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WARRANTS (Tables)
9 Months Ended
Sep. 30, 2022
Warrants  
SCHEDULE OF WARRANTS FAIR VALUE ASSUMPTIONS

 

Risk-free interest rates   2.42%
Expected life in years   3.5 
Expected volatility   73.1%
Expected dividend yield   0%
Fair value common stock  $1.00 
SCHEDULE OF WARRANTS ACTIVITY

The following table summarizes warrant activity through September 30, 2022 (there was no activity for the nine months ended September 30, 2022):

 

   Warrants Issued   Weighted-
Average
Exercise Price
 
         
Warrants outstanding – December 31, 2020   62,500   $1.00 
Granted   150,000    1.10 
Canceled   -    - 
Exercised   (13,500)   1.00 
           
Warrants outstanding – December 31, 2021   199,000   $1.07 
           
Granted   -    - 
Canceled   (12,500)   1.00 
Exercised   (25,000)   1.00 
           
Warrants outstanding – September 30, 2022   161,500   $1.09 
SCHEDULE OF WARRANTS OUTSTANDING

Additional information regarding the warrants outstanding as of September 30, 2022 is as follows:

 

Exercise Price   Number
Outstanding
   Weighted Average
Remaining
Contractual Life
   Number
Exercisable
 
$1.00    11,500    .7 Years    11,500 
$1.10    150,000    5.7 Years    150,000