SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2023

SCHEDULE OF POTENTIALLY DILUTIVE SECURITIES

Potentially dilutive securities outlined in the table below have been excluded from the computation of diluted net loss per share the three and nine months ended September 30, 2023 and 2022 because the effect of their inclusion would have been anti-dilutive.

	For the three and nine months ended September 30, 2023		For the three and nine months ended September 30, 2022
Warrants to purchase shares of common stock		609,893		655,463
Restricted stock units - vested and unissued		20,847		61,428
Restricted stock units - unvested		148,251		65,117
Restricted stock awards - vested and unissued		—		974
Investment options to purchase shares of common stock		1,070,000		1,070,000
Options to purchase shares of common stock		31,852		22,829
Total potentially dilutive securities		1,880,843		1,875,811

SCHEDULE OF FAIR VALUE HIERARCHY OF VALUATION INPUTS ON RECURRING BASIS

The following table provides the financial liabilities measured on a recurring basis and reported at fair value on the balance sheet as of September 30, 2023, and December 31, 2022, and indicates the fair value of the valuation inputs the Company utilized to determine such fair value of warrant liabilities, derivative liability, and investment options:

	Level	September 30, 2023		December 31, 2022
Warrant liabilities - January 2021 Warrants	3	$	18	$	81
Warrant liabilities - February 2021 Warrants	3		59		79
Warrant liabilities - February 2022 Warrants	3		300,480		185,055
Fair value of warrant liability		$	300,557	$	185,215

ENVERIC BIOSCIENCES, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

	Level	September 30, 2023		December 31, 2022
Derivative liability - May 2022	3	$	—	$	727,000
Fair value of derivative liability		$	—	$	727,000

	Level	September 30, 2023		December 31, 2022
H.C. Wainwright & Co., LLC investment options	3	$	70,521	$	44,904
RD investment options	3		442,653		302,289
PIPE investment options	3		737,755		503,815
Fair value of investment option liability		$	1,250,929	$	851,008

Subsequent Measurement [Member]

SCHEDULE OF FAIR VALUE OF WARRANT LIABILITIES AND DERIVATIVE LIABILITY AND INVESTMENT OPTIONS

The following table presents the changes in fair value of the warrant liabilities, derivative liability, and investment options that are classified as Level 3:

	Total Warrant Liabilities
Fair value as of December 31, 2022	$	185,215
Change in fair value		115,342
Fair value as of September 30, 2023	$	300,557

	Total Derivative Liability
Fair value as of December 31, 2022	$	727,000
Change in fair value arising from redemption of Akos Series A Preferred Stock - See Note 8		(727,000	)
Fair value of derivative liability as of September 30, 2023	$	—

	Total Investment Option Liability
Fair value as of December 31, 2022	$	851,008
Change in fair value		399,921
Fair value of investment option liability as of September 30, 2023	$	1,250,929

SCHEDULE OF BLACK SCHOLES VALUATION MODELS OF WARRANT LIABILITIES AND INVESTMENT OPTIONS

The key inputs into the Black Scholes valuation model for the Level 3 valuations of the warrant liabilities as of September 30, 2023 are below:

	January 2021 Warrants			February 2021 Warrants			February 2022 Warrants			February 2022 Post-Modification Warrants
Term (years)		2.3			2.4			3.4			4.3
Stock price	$	2.38		$	2.38		$	2.38		$	2.38
Exercise price	$	247.50		$	245.00		$	27.50		$	7.78
Dividend yield		—	%		—	%		—	%		—	%
Expected volatility		80.0	%		85.0	%		96.0	%		94.0	%
Risk free interest rate		5.00	%		4.90	%		4.80	%		4.70	%
Number of warrants		36,429			34,281			338,000			122,000
Value (per share)	$	—		$	—		$	0.46		$	1.18

The key inputs into the Black Scholes valuation model for the Level 3 valuations of the investment options as of September 30, 2023 are below:

	H.C. Wainwright & Co., LLC Options			RD Offering Options			PIPE Offering Options
Term (years)		3.8			4.3			4.3
Stock price	$	2.38		$	2.38		$	2.38
Exercise price	$	10.00		$	7.78		$	7.78
Dividend yield		—	%		—	%		—	%
Expected volatility		97.0	%		94.0	%		94.0	%
Risk free interest rate		4.70	%		4.70	%		4.70	%
Number of investment options		70,000			375,000			625,000
Value (per share)	$	1.01		$	1.18		$	1.18

The key inputs into the Weighted Expected Return valuation model for the Level 3 valuations of the derivative liability as of redemption, are below:

		May 2022 Derivative Liability
Principal	$	—
Dividend rate		—	%
Market rate		—	%