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EQUITY (Tables)
 12 Months Ended
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:

 

   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:

 

   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

 

   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