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EQUITY (Tables) | 12 Months Ended
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Dec. 31, 2023
Notes and other explanatory information [abstract] |
SCHEDULE OF STOCK OPTIONS USING THE BLACK-SCHOLES OPTION PRICING MODEL AND USED THE ASSUMPTIONS | The Company values stock options using the Black-Scholes option pricing model and used the following assumptions during the reporting periods: SCHEDULE OF STOCK OPTIONS USING THE BLACK-SCHOLES OPTION PRICING MODEL AND USED THE ASSUMPTIONS
|  | 2023 |  |  | 2022 |
|  | Year ended December 31, |
|  | 2023 |  |  | 2022 |
Risk-free interest rate |  |  | 4.25 | % |  |  | 4.41 | %
Contractual term (years) |  |  | 1-4 |  |  |  | 1-3 |
Expected volatility |  |  | 207.20 | % |  |  | 177.30 | %
Expected dividends |  |  | 0.00 | % |  |  | 0.00 | %
SUMMARY OF OPTION ACTIVITY | A summary of the option activity during the year ended December 31, 2022 was as follows: SUMMARY OF OPTION ACTIVITY
|  | No of Options |  |  | Weighted Average Share Price |  |  | Weighted Average Remaining Life |  |  | Aggregate Intrinsic Value |
Outstanding as of January 1, 2022 |  |  | 539,760 |  |  | $ | 4.74 |  |  |  | 1 |  |  | $ | 0 |
Granted |  |  | 560,188 |  |  |  | 4.22 |  |  |  | 3 |  |  |  | 0 |
Exercised |  |  | (73.428 | ) |  |  | 5.81 |  |  |  | - |  |  |  | 0 |
Outstanding as of December 31, 2022 |  |  | 1,026,520 |  |  | $ | 4.40 |  |  |  | 2 |  |  | $ | 0 |
A summary of the option activity during the year ended December 31, 2023 was as follows:
|  | No of Options |  |  | Weighted Average Share Price |  |  | Weighted Average Remaining Life |  |  | Aggregate Intrinsic Value |
Outstanding as of January 1, 2023 |  |  | 1,026,520 |  |  | $ | 4.40 |  |  |  | 2 |  |  | $ | 4,517,330 |
Granted |  |  | 873,429 |  |  |  | 0.77 |  |  |  | 4 |  |  |  | 674,704 |
Exercised |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 0 |
Expired |  |  | (375,000 | ) |  |  |  |  |  |  |  |  |  |  | (1,320,933 | )
Outstanding as of December 31, 2023 |  |  | 1,524,949 |  |  | $ | 2.54 |  |  |  | 2 |  |  | $ | 3,871,101 |
SCHEDULE OF INFORMATION RELATED TO OPTIONS OUTSTANDING | SCHEDULE OF INFORMATION RELATED TO OPTIONS OUTSTANDING
|  | Options Outstanding |  |  |  |  | Options Exercisable |
Year |  | Exercise Price |  |  | Outstanding Number of Options |  |  | Underlying Common Stock |  | Weighted Average Remaining Life in Years |  |  | Exercisable Number of Warrants |
2019 Share Option |  | $ | 3.56 |  |  |  | 257,478 |  |  | GNS |  |  | 1 |  |  | $ | 257,478 |
2020 Share Option |  |  | 5.81 |  |  |  | 74,640 |  |  | GNS |  |  | 1 |  |  |  | 74,640 |
2021 Share Options |  |  | 5.81 |  |  |  | 134,214 |  |  | GNS |  |  | 3 |  |  |  | 134,214 |
2022 Employee Grants (Options) |  |  | 5.62 |  |  |  | 185,188 |  |  | GNS |  |  | 3 |  |  |  | - |
2023 Employee Grants (Options) |  |  | 0.77 |  |  |  | 873,429 |  |  | GNS |  |  | 4 |  |  |  | 0 |
|  | $ | 2.54 |  |  |  | 1,524,949 |  |  |  |  |  | 2.4 |  |  | $ | 466,332 |

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