SHARE-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2024

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

SCHEDULE OF STOCK VALUATION ASSUMPTIONS

	Three Months Ended March 31, 2024			Three Months Ended March 31, 2023
Risk-free interest rate		1.80	%		—
Expected dividend yield		—			—
Expected term		5 years			—
Expected volatility		53.43	%		—

SCHEDULE OF WARRANTS OUTSTANDING

For the three months ended March 31, 2023, warrant activity of the Company are as follows:

	Number of shares		Weighted Average Exercise Price		Weighted average remaining contractual life (in years)		Aggregate Intrinsic Value
Outstanding at January 1, 2023		350,000	$	1.06		9.07	$	—
Issued		—		—		—		—
Exercised		—		—		—		—
Expired/Forfeited		—		—		—		—
Outstanding at March 31, 2023		350,000	$	1.06		8.82	$	—
Vested and exercisable March 31, 2023		—		—		—		—

For the three months ended March 31, 2024, warrant activity of the Company are as follows:

	Number of shares		Weighted Average Exercise Price		Weighted average remaining contractual life (in years)		Aggregate Intrinsic Value
Outstanding at January 1, 2024		350,000	$	1.06		8.07	$	—
Issued		—		—		—		—
Exercised		—		—		—		—
Expired/Forfeited		—		—		—		—
Outstanding at March 31, 2024		350,000	$	1.06		7.82	$	—
Vested and exercisable March 31, 2024		—		—		—		—

Time Based Options [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

SCHEDULE OF STOCK OPTION ACTIVITY

For the three months ended March 31, 2023, stock option activity for time-based options of the Company are as follows:

	Number of Time-Based Share Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (in years)		Aggregate Intrinsic Value
Outstanding at January 1, 2023		416,115	$	1.86		9.13	$	57,207
Issued		—		—		—		—
Exercised		—		—		—		—
Expired/Forfeited		—		—		—		—
Outstanding at March 31, 2023		416,115	$	1.86		8.89	$	32,512
Vested and exercisable March 31, 2023		125,915	$	1.36		8.71	$	32,512

For the three months ended March 31, 2024, stock option activity for time-based options of the Company are as follows:

	Number of Time-Based Share Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (in years)		Aggregate Intrinsic Value
Outstanding at January 1, 2024		366,615		$	1.82		8.14	$	15,686
Issued		201,000			0.49		9.95		—
Exercised		—			—		—		—
Expired/Forfeited		(879	)		0.28		7.33		—
Outstanding at March 31, 2024		566,736		$	1.35		5.10	$	—
Vested and exercisable March 31, 2024		284,611		$	1.78		7.86	$	—

 

Performance Based Options [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

SCHEDULE OF STOCK OPTION ACTIVITY

For the three months ended March 31, 2023, stock option activity for performance-based options of the Company are as follows:

	Number of Performance- Based Share Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (in years)		Aggregate Intrinsic Value
Outstanding at January 1, 2023		944,000	$	1.45		9.11	$	174,000
Issued		—		—		—		—
Exercised		—		—		—		—
Expired/Forfeited		—		—		—		—
Outstanding at March 31, 2023		944,000	$	1.45		8.86	$	—
Vested and exercisable March 31, 2023		—		—		—		—

For the three months ended March 31, 2024, stock option activity for performance-based options of the Company are as follows:

	Number of Performance- Based Share Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (in years)		Aggregate Intrinsic Value
Outstanding at January 1, 2024		894,500	$	1.41		8.11	$	—
Issued		—		—		—		—
Exercised		—		—		—		—
Expired/Forfeited		—		—		—		—
Outstanding at March 31, 2024		894,500	$	1.41		7.86	$	—
Vested and exercisable March 31, 2024		—		—		—		—