Quarterly report pursuant to Section 13 or 15(d)

STOCK OPTIONS (Tables)

v3.23.1
STOCK OPTIONS (Tables)
 3 Months Ended
Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]  
SCHEDULE OF STOCK OPTION ACTIVITY

A summary of option activity for the three months ended March 31, 2023 is presented below.

                Weighted-        
          Weighted-     Average        
          Average     Remaining     Aggregate  
          Exercise     Contractual     Intrinsic  
    Options     Price     Life (Years)     Value  
                         
Outstanding at January 1, 2023     139,054     $ 52.11       3.37     $        -  
Granted     8,090       9.20       -       -  
Forfeited     (16,070 )     52.46       -       -  
Exercised     -       -       -       -  
Outstanding at March 31, 2023     131,074     $ 49.42       3.17     $ -  
                                 
Vested March 31, 2023     80,690     $ 52.40             $ -  
                                 
Exercisable at March 31, 2023     80,690     $ 52.40             $ -  
SCHEDULE OF FAIR VALUE ASSUMPTIONS USING BLACK-SCHOLES METHOD

The fair value of share option award is estimated using the Black-Scholes option pricing method based on the following weighted-average assumptions:

 

    Three Months Ended March 31,  
    2023     2022  
Risk-free interest rate     1.24%$ - 4.27 %       1.24% - 2.10 %
Average expected term       5 years         5 years  
Expected volatility     155.85 %     149.53 %
Expected dividend yield     -       -