Quarterly report pursuant to Section 13 or 15(d)

STOCK OPTIONS (Tables)

v3.23.2
STOCK OPTIONS (Tables)
 6 Months Ended
Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]  
SCHEDULE OF STOCK OPTION ACTIVITY

A summary of option activity for the six months ended June 30, 2023 is presented below.

 

SCHEDULE OF STOCK OPTION ACTIVITY

                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     1,005,685       1.18       -       -  
Forfeited     (45,216 )     48.11       -       -  
Exercised     -       -       -       -  
Outstanding at June 30, 2023     1,099,523     $ 5.69       4.78     $ -  
                                           
Vested June 30, 2023     77,304     $ 50.47             $ -  
                                 
Exercisable at June 30, 2023     77,304     $ 50.47             $ -  
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:

 

SCHEDULE OF FAIR VALUE ASSUMPTIONS USING BLACK-SCHOLES METHOD

    Six Months Ended June 30,  
    2023     2022  
Risk-free interest rate     3.95 %     1.24% - 3.01 %
Average expected term     5 years       5 years  
Expected volatility     127.5 %     147.8-149.5 %
Expected dividend yield     -       -