Quarterly report pursuant to Section 13 or 15(d)

STOCK OPTIONS (Tables)

v3.22.2.2
STOCK OPTIONS (Tables)
 9 Months Ended
Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]  
SCHEDULE OF STOCK OPTION ACTIVITY

A summary of option activity for the nine months ended September 30, 2022, is presented below.

 

                Weighted-        
          Weighted-     Average        
          Average     Remaining     Aggregate  
          Exercise     Contractual     Intrinsic  
    Options     Price     Life (Years)     Value  
                         
Outstanding as of January 1, 2022     5,404,223     $ 1.72       2.24     $ 107  
Granted     2,741,555       1.06       -       -  
Forfeited     (2,560,929 )     1.70       -       -  
Exercised     (332,730 )     1.13       -       -  
Outstanding as of September 30, 2022     5,252,119     $ 1.55       2.00     $ 19  
                                 
Vested as of September 30, 2022     2,707,084     $ 1.81             $ -  
                                 
Exercisable as of September 30, 2022     1,686,439     $ 2.22             $ -  
SCHEDULE OF FAIR VALUE ASSUMPTIONS USING BLACK-SCHOLES METHOD

The grant date fair value of option awards is estimated using the Black-Scholes option pricing model based on the following assumptions:

 

    Nine Months Ended September 30,  
    2022     2021  
Risk-free interest rate     1.24% - 3.37 %     0.10% - 0.92 %
Average expected term     5 years       5 years  
Expected volatility     143.6 – 149.5 %     232.8 - 240.0 %
Expected dividend yield     -       -