STOCKHOLDERS’ EQUITY (Tables)
|
12 Months Ended |
Dec. 31, 2024 |
| Equity [Abstract] |
|
| SUMMARY OF BLACK-SCHOLES OPTION PRICING MODEL TO STOCK OPTIONS GRANTED ASSUMPTION |
In
applying the Black-Scholes option pricing model to options granted, the Company used the following assumptions:
SUMMARY OF BLACK-SCHOLES OPTION PRICING MODEL TO STOCK OPTIONS GRANTED ASSUMPTION
| | |
For the Years Ended |
|
| | |
December 31, |
|
| | |
2024 | | |
2023 | | |
2022 |
|
| | |
| | |
| | |
|
|
| Risk free interest rate | |
| 3.60%-4.64% | | |
| 3.00%-4.14% | | |
2.47%-3.25% |
|
| Expected term (years) | |
| 6.00 | | |
| 5.00 | | |
1.00-8.00 |
|
| Expected volatility | |
| 110.3%-125.9% | | |
| 115.9%-117.3% | | |
115%-133.4% |
|
| Expected dividends | |
| 0.00 | % | |
| 0.00 | % | |
0.00% |
|
|
| SUMMARY OF OPTIONS ACTIVITY |
A
summary of the option activity during the year ended December 31, 2024 is presented below:
SUMMARY OF OPTIONS ACTIVITY
| | |
| | |
| | |
Weighted | | |
| |
| | |
| | |
Weighted | | |
Average | | |
| |
| | |
| | |
Average | | |
Remaining | | |
Aggregate | |
| | |
Number of | | |
Exercise | | |
Life | | |
Intrinsic | |
| | |
Shares | | |
Price | | |
In Years | | |
Value | |
| Outstanding, January 1, 2024 | |
| 936,245 | | |
$ | 24.68 | | |
| | | |
| | |
| Granted | |
| 128,303 | | |
| 5.37 | | |
| | | |
| | |
| Exercised | |
| - | | |
| - | | |
| | | |
| | |
| Cancelled/forfeited/expired | |
| (78,383 | ) | |
| 8.70 | | |
| | | |
| | |
| Outstanding, December 31, 2024 | |
| 986,165 | | |
$ | 26.27 | | |
| 5.4 | | |
$ | - | |
| | |
| | | |
| | | |
| | | |
| | |
| Exercisable, December 31, 2024 | |
| 916,635 | | |
$ | 27.63 | | |
| 5.1 | | |
$ | - | |
|
| SCHEDULE OF STOCK OPTIONS |
The
following table presents information related to stock options as of December 31, 2024:
SCHEDULE OF STOCK OPTIONS
| | | |
Options Outstanding | | |
Options Exercisable | |
| | | |
Weighted | | |
| | |
Weighted | | |
| |
| Range of | | |
Average | | |
Outstanding | | |
Average | | |
Exercisable | |
| Exercise | | |
Exercise | | |
Number of | | |
Remaining Life | | |
Number of | |
| Price | | |
Price | | |
Options | | |
In Years | | |
Options | |
| $1.73-$9.14 | | |
$ | 2.93 | | |
| 273,640 | | |
| 1.0 | | |
| 229,780 | |
| $15.51-$38.45 | | |
$ | 34.55 | | |
| 671,993 | | |
| 3.4 | | |
| 646,323 | |
| $40.82-$59.22 | | |
$ | 46.50 | | |
| 40,532 | | |
| 0.7 | | |
| 40,532 | |
| | | |
| | | |
| 986,165 | | |
| 5.1 | | |
| 916,635 | |
|
| SUMMARY OF BLACK-SCHOLES OPTION PRICING MODEL TO WARRANTS GRANTED ASSUMPTION |
In
applying the Black-Scholes option pricing model to warrants granted, the Company used the following assumptions:
SUMMARY OF BLACK-SCHOLES OPTION PRICING MODEL TO WARRANTS GRANTED ASSUMPTION
| | |
For the Years Ended | |
| | |
December 31, | |
| | |
2024 | | |
2023 | | |
2022 | |
| | |
| | |
| | |
| |
| Risk free interest rate | |
| N/A | | |
| 3.39%-4.03 | % | |
| N/A | |
| Expected term (years) | |
| N/A | | |
| 5.00 | | |
| N/A | |
| Expected volatility | |
| N/A | | |
| 115.9%-133.4 | % | |
| N/A | |
| Expected dividends | |
| N/A | | |
| 0.00 | % | |
| N/A | |
|
| SCHEDULE OF WARRANT ACTIVITY |
The
following table accounts for the Company’s warrant activity for the year ended December 31, 2024:
SCHEDULE OF WARRANT ACTIVITY
| | |
| | |
| | |
Weighted | | |
| |
| | |
| | |
Weighted | | |
Average | | |
| |
| | |
| | |
Average | | |
Remaining | | |
Aggregate | |
| | |
Number of | | |
Exercise | | |
Life | | |
Intrinsic | |
| | |
Shares | | |
Price | | |
In Years | | |
Value | |
| Outstanding, January 1, 2024 | |
| 1,145,914 | | |
$ | 9.69 | | |
| | | |
| | |
| Issued | |
| - | | |
| - | | |
| | | |
| | |
| Exercised | |
| - | | |
| - | | |
| | | |
| | |
| Outstanding, December 31, 2024 | |
| 1,145,914 | | |
$ | 9.69 | | |
| 3.2 | | |
$ | - | |
| | |
| | | |
| | | |
| | | |
| | |
| Exercisable, December 31, 2024 | |
| 1,145,914 | | |
$ | 9.69 | | |
| 3.2 | | |
$ | - | |
|
| SCHEDULE OF STOCK WARRANTS |
The
following table presents information related to stock warrants as of December 31, 2024:
SCHEDULE OF STOCK WARRANTS
| | | |
Warrants Outstanding | | |
Warrants Exercisable | |
| | | |
Weighted | | |
| | |
Weighted | | |
| |
| Range of | | |
Average | | |
Outstanding | | |
Average | | |
Exercisable | |
| Exercise | | |
Exercise | | |
Number of | | |
Remaining Life | | |
Number of | |
| Price | | |
Price | | |
Warrants | | |
In Years | | |
Warrants | |
| | | |
| | |
| | |
| | |
| |
| $ | 8.82-$11.56 | | |
$ | 9.69 | | |
| 1,145,914 | | |
| 3.2 | | |
| 1,145,914 | |
| | | | |
| | | |
| 1,145,914 | | |
| 3.2 | | |
| 1,145,914 | |
|