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STOCK OPTIONS (Tables) | 6 Months Ended
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Jun. 30, 2021
Share-based Payment Arrangement [Abstract] |
SCHEDULE OF STOCK OPTION ACTIVITIES | The following table summarizes the Company’s stock option activities for the year ended December 31, 2020 and the six month period ended June 30, 2021: SCHEDULE OF STOCK OPTION ACTIVITIES
|  | Number of shares |  |  | Exercise price per share |  | Weighted average exercise price |
Balance, December 31, 2019 |  |  | 635,000 |  |  | $ | 0.75 | – | 1.75 |  | $ | 1.35 |
Granted |  |  | 172,000 |  |  | $ |  |  | 2.44 |  | $ | 2.44 |
Cancelled or expired |  |  | (13,000 | ) |  | $ | 2.44 | – | 3.46 |  | $ | 2.75 |
Exercised |  |  | (45,000 | ) |  | $ | 0.75 | – | 1.05 |  | $ | 0.88 |
Balance, December 31, 2020 |  |  | 749,000 |  |  | $ | 0.75 | – | 4.13 |  | $ | 2.42 |
Balance, December 31, 2020 |  |  | 749,000 |  |  | $ | 0.75 | – | 4.13 |  | $ | 2.42 |
Cancelled or expired |  |  | (29,799 | ) |  | $ | 1.42 | – | 3.46 |  | $ | 2.45 |
Exercised |  |  | (55,201 | ) |  | $ | 0.75 | – | 3.46 |  | $ | 1.55 |
Balance, June 30, 2021 |  |  | 664,000 |  |  | $ | 1.42 | – | 4.13 |  | $ | 2.49 |
Exercisable, June 30, 2021 |  |  | 423,000 |  |  | $ | 1.42 | – | 4.13 |  | $ | 2.63 |
SCHEDULE OF STOCK OPTION FAIR VALUE ASSUMPTIONS | The fair value of each option grant is calculated using the following weighted average assumptions: SCHEDULE OF STOCK OPTION FAIR VALUE ASSUMPTIONS
|  | 2020 |
Expected life – years |  |  | 3.0 |
Interest rate |  |  | 0.37 | %
Volatility |  |  | 70.14 | %
Weighted average fair value of options granted |  | $ | 1.12 |

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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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