XML 26 R16.htm IDEA: XBRL DOCUMENT v3.22.1
Schedule of Stock Options, Valuation Assumptions (Details)
3 Months Ended
Mar. 31, 2022
$ / shares
Stock Options Plan  
Dividend yields 0.00% [1]
Share price $ 0.26 [2]
Expected volatility minimum 82.77% [3]
Expected volatility maximum 142.57% [3]
Risk free interest rate minimum 18.00% [4]
Risk free interest rate maximum 170.00% [4]
Expected life (in years) 10 years
[1] The Company used 0% as its expected dividend yield, based on historic policies and future plans.
[2] The -Company’s common stock is quoted on the Over the Counter (“OTC”), QB tier. However, the Company considers its share price as it is traded on OTC to not be an appropriate representation of fair value, since it is not traded on an active market. The Group determined that the market is inactive due to low level of activity of the Company’s Common Stock, stale or non-current price quotes and price quotes that vary substantially either over time or among market makers. Consequently, the price of the Company’s Common Stock has been determined based on the April 2021 Private placement units of Common Stock and Warrants at a per unit purchase price of $0.64. In order to evaluate the price per share, the Warrant value has been deducted from the total unit price.
[3] As the Company is at its early stage of operation, there is not sufficient historical volatility for the expected term of the stock options. Therefore, the Company uses an average historical share price volatility based on an analysis of reported data for a peer group of comparable publicly traded companies which were selected based upon industry similarities.
[4] The Company determined the risk-free interest rate by using a weighted-average equivalent to the expected term based on the U.S. Treasury yield curve in effect as of the date of grant.