XML 36 R25.htm IDEA: XBRL DOCUMENT v3.23.1
SHARE CAPITAL AND OTHER EQUITY INSTRUMENTS (Tables)
12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
SCHEDULE OF STOCK OPTION

A summary of activity under the Company’s incentive plan for the years ended December 31, 2022 and 2021 is presented below:

 

   Number of Shares   Weighted Average Exercise Price   Weighted Average Grant Date Fair Value   Weighted Average Remaining Contractual Term (years)   Aggregate Intrinsic Value 
Outstanding at December 31, 2020   18,596   $76.50   $125.00    6.1   $2,537,245 
Granted   2,482   $149.00   $116.00       $ 
Options assumed pursuant to acquisition of MagicMed   19,477   $67.00   $92.00       $ 
Exercised   (2,876)  $11.50   $284.50       $ 
Expired, forfeited, or cancelled   (13,850)  $84.50   $81.00       $ 
Outstanding at December 31, 2021   23,829   $79.00   $103.50    5.3   $34,333 
Granted   25,500   $3.07   $2.58         
Forfeited   (1,000)  $175.00   $140.50         
Outstanding at December 31, 2022   48,329   $37.05   $44.82    4.1   $ 
                          
Exercisable at December 31, 2022   20,774   $74.65   $100.49    3.7   $ 
SCHEDULE OF STOCK OPTION ASSUMPTION

Options granted during the years ended December 31, 2022 and 2021 were valued using the Black Scholes model with the following assumptions:

SCHEDULE OF STOCK OPTION ASSUMPTION 

   December 31, 2022   December 31, 2021 
Term (years)   5.5    2.5 - 7.0 
Stock price  $3.07    $102.00 - $175.00 
Exercise price  $3.07    $102.00 - $175.00 
Dividend yield   %   %
Expected volatility   112%   76% - 79%
Risk free interest rate   3.9%   1.1% - 1.6%
SCHEDULE OF RESTRICTED COMMON STOCK AND AWARDS ACTIVITY

The Company’s activity in restricted common stock was as follows for the years ended December 31, 2022 and 2021:

 

   Number of shares   Weighted average fair value 
Non-vested at December 31, 2020      $ 
Granted   2,516   $178.50 
Vested   (1,485)  $204.50 
Non-vested at December 31, 2021   1,031   $141.50 
Forfeited   (700)  $146.50 
Vested   (331)  $130.40 
Non-vested at December 31, 2022      $ 
SCHEDULE OF RESTRICTED STOCK UNITS AND AWARDS ACTIVITY

The Company’s activity in restricted stock units was as follows for the year ended December 31, 2022:

 

   Number of shares   Weighted average fair value 
Non-vested at December 31, 2020      $ 
Granted   125,169   $172.00 
Forfeited   (7,439)  $152.00 
Vested   (55,717)  $226.00 
Non-vested at December 31, 2021   62,013   $126.00 
Granted   37,445   $33.50 
Forfeited   (26,772)  $79.64 
Vested   (8,633)  $130.55 
Non-vested at December 31, 2022   64,053   $92.57 
SCHEDULE OF STOCK-BASED COMPENSATION FOR RESTRICTED STOCK UNITS

The following table summarizes the Company’s recognition of stock-based compensation for restricted stock units for the following periods:

 

  2022   2021 
   Year ended December 31, 
Stock-based compensation for RSUs  2022   2021 
General and administrative  $1,389,359   $11,463,870 
Research and development   1,026,907    840,644 
Total  $2,416,266   $12,304,514 
SCHEDULE OF WARRANTS OUTSTANDING

The following table summarizes information about shares issuable under warrants outstanding at December 31, 2022 and 2021:

   Warrant shares outstanding   Weighted average exercise price   Weighted average remaining life   Intrinsic value 
Outstanding at December 31, 2020   74,617   $102.50    5.2   $8,923,797 
Issued   82,923   $210.00       $ 
Assumed pursuant to acquisition of MagicMed   118,274   $65.50       $ 
Exercised   (64,988)  $50.50       $ 
Exchanged for common stock   (15,363)  $232.50       $ 
Outstanding at December 31, 2021   195,463   $131.00    3.4   $801,024 
Issued   1,227,500   $10.31       $ 
Exercised   (767,500)  $       $ 
Exchanged for common stock      $       $ 
Outstanding at December 31, 2022   655,463   $58.36    3.6   $5,514 
                     
Exercisable at December 31, 2022   655,463   $58.36    3.6   $5,514 
SCHEDULE OF WARRANTS AND INVESTMENT OPTIONS

The following table summarizes information about investment options outstanding at December 31, 2022 (there were no investment options issued for the year ended December 31, 2021):

 

   Investment options outstanding   Weighted average exercise price   Weighted average remaining life   Intrinsic value 
Outstanding at January 1, 2022      $       $ 
Issued   1,070,000   $7.93         
Outstanding at December 31, 2022   1,070,000   $7.93    5.1   $ 
                     
Exercisable at December 31, 2022   1,070,000   $7.93    5.1   $