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STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2022
SCHEDULE OF COMPENSATION BASED STOCK OPTION ACTIVITY

Compensation based stock option activity for qualified and unqualified stock options are summarized as follows:

 

       Weighted 
For the year ended December 31, 2022      Average 
   Shares   Exercise Price 
Outstanding at January 1, 2022   16,592,620   $0.30 
Expired or cancelled   (2,359)   11.88 
Granted and vested during the year*   9,100,000    0.10 
Outstanding and exercisable at December 31, 2022   25,690,261   $0.23 

 

*Includes 7,280,000 options that have been considered as vested, pending approval by the Board of Directors of the Company.

 

       Weighted 
For the year ended December 31, 2021      Average 
   Shares   Exercise Price 
Outstanding at January 1, 2021   3,941,301   $0.78 
Granted during the year, fully vested   12,652,761    0.15 
Expired or cancelled   (1,442)   19.80 
Outstanding at December 31, 2021   16,592,620   $0.30 
SCHEDULE OF OPTIONS TO PURCHASE SHARES OF COMMON STOCK OUTSTANDING AND EXERCISABLE

The following table summarizes information about options to purchase shares of the Company’s Common Stock outstanding and exercisable at December 31, 2022:

 

            Weighted-     Weighted-        
            Average     Average        
      Outstanding     Remaining Life     Exercise     Number  
Exercise prices     Options     In Years     Price     Exercisable  
                           
$ 0.01 to 0.15       16,250,000       9.16     $ 0.12       6,057,500  
  0.16       5,502,761       8.5       0.16       5,502,761  
  0.22       1,750,000       3.3       0.22       1,750,000  
  0.38       900,000       2.6       0.38       900,000  
  0.73       762,500       2.3       0.73       762,500  
  1.37       150,000       0.5       1.37       150,000  
  1.43       300,000       2.4       1.43       300,000  
  15.00       75,000       2.4       15.00       75,000  
          25,690,261       8.0     $ 0.30       15,497,761  
SCHEDULE OF WARRANTS ACTIVITY

The issuance of warrants to purchase shares of the Company’s Common Stock, including those attributed to debt issuances, for the years ended December 31, 2022 and 2021, respectively are summarized as follows:

 

   Shares  

Weighted

Exercise Price

 
Outstanding at January 1, 2022   53,314,424   $0.20 
Issued during the year ended December 31, 2022   38,623,816    0.15-0.20 
Exercised / cancelled during the year ended December 31, 2022   (10,865,385)   0.13-0.20 
Outstanding at December 31, 2022   81,072,855   $0.18 

 

          Weighted-  
For the year ended December 31, 2021         Average  
    Shares     Exercise Price  
Outstanding at January 1, 2021     18,702,500     $ 0.20  
Issued during the year ended December 31, 2021     34,611,924       0.13-0.20  
Outstanding at December 31, 2021     53,314,424     $ 0.20  
SCHEDULE OF WARRANTS OUTSTANDING AND EXERCISABLE

The following table summarizes information about warrants outstanding and exercisable at December 31, 2022:

 

      Outstanding and exercisable  
            Weighted-     Weighted-        
            Average     Average        
      Number     Remaining Life     Exercise     Number  
Exercise Price     Outstanding     in Years     Price     Exercisable  
$ 0.20       42,737,500       0.25     $ 0.20       42,737,500  
  0.13       961,539       3.90       0.13       961,539  
  0.15       33,000,066       1.25       0.15       33,000,066  
  0.20       4,373,750       4.24-4.48       0.20       4,373,750  
          81,072,855       0.92     $ 0.18       81,072,855  
Stock Options [Member]  
SCHEDULE OF ASSUMPTIONS TO ESTIMATE FAIR VALUE OF THE WARRANTS

SCHEDULE OF ASSUMPTIONS TO ESTIMATE FAIR VALUE OF THE WARRANTS 

Strike price  $0.10 
Expected Term   1 year 
Expected volatility   95.5%
Risk-free interest rates   3.12%
Dividend yields   0.00%