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STOCKHOLDERS’ DEFICIT (Tables)
12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
SCHEDULE OF OUTSTANDING WARRANTS

At December 31, 2022, the outstanding warrants consisted of the following:

 

Date Issued  Number of Warrants   Exercise Price   Expiration Date
April 1, 2020   2,462,600   $0.125   April 1, 2030
April 1, 2020   462,600   $0.500   April 1, 2030
March 30, 2020   350,000   $1.250   March 30, 2025
August 17, 2020   134,000   $1.250   August 17, 2025
March 15, 2022   250,000   $0.500   March 15, 2027
March 21, 2022   250,000   $0.500   March 21, 2027
March 22, 2022   250,000   $0.500   March 22, 2027
March 24, 2022   600,000   $0.500   March 24, 2027
    4,759,200         
SUMMARY OF WARRANTS ACTIVITY

A summary of the warrant activity during the year ended December 31, 2022 is presented below:

 

 

   Number of Warrants  

Weighted

Average

Exercise Price

  

Weighted

Average Remaining Contractual Term (years)

 
Outstanding at January 1, 2022   3,409,200   $0.34    7.6 
Granted   1,350,000   $0.50    5.0 
Outstanding at December 31, 2022   4,759,200   $0.38    5.9 
                
Exercisable at December 31, 2022   4,759,200   $0.38    5.9 
SUMMARY OF CHANGES IN FAIR VALUE WARRANTS

Stock price per share  $0.370.40 
Term   5.0 years 
Expected volatility   90.00%
Divided yield    
Risk-free interest rate   2.10% – 2.39%
Strike price  $0.50