Quarterly report pursuant to Section 13 or 15(d)

STOCK OPTIONS (Tables)

v3.23.3
STOCK OPTIONS (Tables)
9 Months Ended
Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]  
SCHEDULE OF STOCK OPTION ACTIVITY

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

 

    Options     Weighted- Average Exercise Price     Weighted- Average Remaining Contractual Life (Years)     Aggregate Intrinsic Value  
                         
Outstanding at January 1, 2023     139,054     $ 52.11       3.37     $                   -  
Granted     2,028,425       0.95       -       -  
Forfeited     (110,597 )     60.48       -       -  
Exercised     -       -       -       -  
Outstanding at September 30, 2023     2,056,882     $ 1.21       4.85     $ -  
                                 
Vested September 30, 2023     319,434     $ 1.99             $ -  
                                 
Exercisable at September 30, 2023     319,434     $ 1.99             $ -  
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:

 

   

Nine Months Ended September 30,

 
    2023     2022  
Risk-free interest rate     4.29 %     1.24% - 3.37 %
Average expected term     5 years       5 years  
Expected volatility     136.2 %     143.6-149.5 %
Expected dividend yield     -       -