SHARE CAPITAL AND OTHER EQUITY INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

SCHEDULE OF STOCK OPTION

A summary of the stock option activity under the Company’s incentive plan for the years ended December 31, 2023 and 2022 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 January 1, 2022		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	$	—
Granted		—		$	—	$	—				—
Forfeited		(18,000	)	$	3.07	$	2.58				—
Outstanding at December 31, 2023		30,329		$	57.17	$	77.22		3.4	$	—
Exercisable at December 31, 2023		25,677		$	64.45	$	88.72		2.9	$	—

SCHEDULE OF STOCK OPTION ASSUMPTION

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

	December 31, 2022
Term (years)		5.5
Stock price	$	3.07
Exercise price	$	3.07
Dividend yield		—
Expected volatility		112.0	%
Risk free interest rate		3.9	%

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, 2023:

	Number of shares			Weighted average fair value
Non-vested at January 1, 2022		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
Granted		182,500		$	2.73
Forfeited		(43,426	)	$	25.72
Vested		(62,636	)	$	19.80
Non-vested at December 31, 2023		140,491		$	28.97

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:

	Year ended December 31,
	2023		2022
Stock-based compensation expense for RSUs:
General and administrative	$	1,085,791	$	1,389,359
Research and development		908,294		1,026,907
Total	$	1,994,085	$	2,416,266

SCHEDULE OF WARRANTS OUTSTANDING

The following table summarizes information about shares issuable under warrants outstanding at December 31, 2023 and 2022:

	Warrant shares outstanding			Weighted average exercise price		Weighted average remaining life		Intrinsic value
Outstanding at January 1, 2022		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
Issued		2,311,320		$	1.37			$	—
Exercised		(122,000	)	$	1.37			$	—
Forfeited		(45,570	)	$	111.50			$	—
Outstanding at December 31, 2023		2,799,213		$	11.79		4.6	$	—
Exercisable at December 31, 2023		2,799,213		$	11.79		4.6	$	—

SCHEDULE OF WARRANTS AND INVESTMENT OPTIONS

The following table summarizes information about investment options outstanding at December 31, 2023 and 2022:

	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	$	—
Exercised		(1,000,000	)	$	1.37		—		—
Outstanding at December 31, 2023		70,000		$	10.00		4.1	$	—
Exercisable at December 31, 2023		70,000		$	10.00		4.1	$	—

SCHEDULE OF BLACK SCHOLES VALUATION MODEL FOR VALUATION OF WARRANTS

The Company established the initial fair value of its equity classified Inducement Warrants at the date of issuance on December 28, 2023. The Company used a Black Scholes valuation model in order to determine their value. The key inputs into the Black Scholes valuation model for the valuation of the warrants are below:

	Roth and Inducement Warrants
	December 28, 2023
Term (years)		5.0
Stock price	$	1.56
Exercise price	$	1.37
Dividend yield		—	%
Expected volatility		92.0	%
Risk free interest rate		3.80	%
Number of warrants		2,311,320
Value (per share)	$	1.16