Annual report pursuant to Section 13 and 15(d)

STOCK OPTIONS (Tables)

v3.24.1
STOCK OPTIONS (Tables)
 12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
SCHEDULE OF STOCK OPTION ACTIVITY

A summary of option activity for the years ended December 31, 2023 and 2022 is presented below.

 

                Weighted-        
          Weighted-     Average        
          Average     Remaining     Aggregate  
          Exercise     Contractual     Intrinsic  
    Options     Price     Life (Years)     Value  
                         
Outstanding at January 1, 2022     135,106     $ 68.99       2.24     $ 107  
Granted     94,374       33.14       -       -  
Forfeited and other     (82,108 )     66.48       -       -  
Exercised     (8,318 )     45.35       -       -  
Outstanding at December 31, 2022     139,054       52.11       3.37       -  
Granted     2,058,425       0.95       -       -  
Forfeited     (110,597 )     60.48       -       -  
Exercised     -       -       -       -  
Outstanding at December 31, 2023     2,086,882     $ 1.20       4.60     $ -  
                                 
Vested December 31, 2023     320,372     $ 2.20             $ -  
                                 
Exercisable at December 31, 2023     320,372     $ 2.20             $ -  
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:

 

    Years Ended December 31,  
    2023     2022  
             
Risk free interest rate     3.56% - 4.62 %     1.24% - 4.27 %
Average expected term     5 years       5 years  
Expected volatility     127 – 145 %     141 - 150 %
Expected dividend yield     -       -