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SHARE CAPITAL (Tables)
 12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
SUMMARY OF STOCK OPTION ACTIVITY

A summary of the Company’s option activity related to options to employees and directors, and related information is as follows:

 

   For the Year Ended December 31, 2022 
   Number of stock options   Weighted average exercise price 
         
Outstanding as of December 31, 2021   997,148   $8.48 
Granted   530,822    5.14 
Cancelled   (20,833)   8.16 
Outstanding as of December 31, 2022   1,507,137   $7.31 
           
Vested as of December 31, 2022   899,609   $8.52 

 

   For the Year Ended December 31, 2021 
   Number of stock options   Weighted average exercise price 
         
Outstanding as of December 31, 2020   575,722   $9.14 
Granted   421,426    7.60 
Outstanding as of December 31, 2021   997,148   $8.48 
           
Vested as of December 31, 2021   568,053   $9.08 
SCHEDULE OF STOCK OPTIONS OUTSTANDING

The stock options outstanding as of December 31, 2022 and December 31, 2021, summarized by exercise prices, are as follows:

 

Exercise price $  Stock options outstanding as of December 31, 2022   Stock options outstanding as of December 31, 2021   Weighted average remaining contractual life – years as of December 31, 2022   Weighted average remaining contractual life – years as of December 31, 2021  Stock options exercisable as of December 31, 2022   Stock options exercisable as of December 31, 2021 
3.73   211,000    -    10    -    -    - 
4.20   77,846    77,846    2.0    3.0    77,846    77,846 
4.80   32,500    -    9.6    -    -    - 
5.06   15,808    15,808    6.8    7.8    15,808    11,064 
5.71   99,823    -    9.7    -    -    - 
5.95   17,503    17,503    6.6    7.6    17,503    13,564 
6.16   31,492    31,492    7.5    8.5    26,282    16,834 
6.48   182,500    -    9.1    -    59,312    - 
6.72   117,500    125,000    8.4    9.4    64,624    31,249 
7.00   81,426    81,426    8.8    9.8    38,676    - 
7.22   11,084    11,084    7.9    8.9    7,756    4,432 
7.26   20,000    25,000    8.8    9.8    8,000    - 
8.16   4,902    4,902    7.6    8.6    3,799    2,328 
8.48   190,000    190,000    8.1    9.1    166,250    - 
8.60   9,304    9,304    6.1    7.1    9,304    9,304 
9.00   10,000    10,000    5.6    6.6    10,000    10,000 
9.64   166,666    166,666    7.2    8.2    166,666    166,666 
15.30   35,199    38,533    5.0    6.0    35,199    38,533 
15.75   131,007    131,007      4.7      5.7    131,007    124,656 
(*)    61,577    61,577    3.3    4.3    61,577    61,577 
    1,507,137    997,148    7.6    7.6    899,609    568,053 

 

(*) Less than $0.01.
SCHEDULE OF STOCK OPTIONS VALUATION ASSUMPTIONS

The grant date fair values of stock options granted in the years ended December 31, 2022 and 2021 were estimated using the Black-Scholes valuation model with the following: 

 

   For the Years Ended December 31, 
   2022   2021 
Expected volatility   

111.2%-161.7%

    118.3%-134.3% 
Risk-free interest   1.7%- 3.7%    0.4%-1.2% 
Dividend yield   -%   -%
Expected terms (years)   6.2    5.3 
SCHEDULE OF WARRANTS OUTSTANDING

The remaining outstanding warrants and terms as of December 31, 2022 and 2021 are as follows:

 

Issuance date  Outstanding and exercisable as of December 31, 2022   Outstanding and exercisable as of December 31, 2021   Exercise Price   Exercisable Through
Series A (2013)   183    183   $2,754.00   April 9, 2023
Series B (2016)   -    2,770   $40.50   March 14, 2022
Warrant to underwriters 1.2019   -    8,082   $8.13   July 14, 2022
Warrant to underwriters 1.2019   -    29,500   $12.50   July 15, 2022
Warrant to underwriters 12.2019   45,643    45,643   $13.13   June 25, 2023
Warrant to underwriters 12.2019   47,619    47,619   $13.13   June 27, 2023
Warrant to underwriters 12.2019   45,045    45,045   $13.88   June 30, 2023
Series A 10.2022   1,022,495    -   $4.64   October 25, 2027
Series B 10.2022   1,022,495    -   $4.64   October 25, 2024
Warrant to underwriters 10.2022   51,125    -   $6.11   October 21, 2027