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SCHEDULE OF WARRANT OUTSTANDING (Details)
shares in Thousands
3 Months Ended
Mar. 31, 2023
$ / shares
shares
Consultants For Services [Member]  
Grants of warrants 2,100 [1]
Warrant Exercised (4,667) [1]
Grants of warrants (10) [1]
Private Placement [Member]  
Grants of warrants 11,333 [1]
Warrant [Member]  
Warrants outstanding, beginning balance 3,616
Warrant price, beginning balance | $ / shares $ 5.80 [2]
Weighted average remaining contractual life, beginning 2 years 6 months [3]
Warrants outstanding, Ending balance 12,372
Warrant price, beginning balance | $ / shares $ 2.40 [2]
Weighted average remaining contractual life, ending 6 years 4 months 24 days [3]
Warrants outstanding, exercisable ending balance 10,537 [4]
Warrant price, exercisable ending balance | $ / shares $ 2.53 [2]
Weighted average remaining contractual life, exercisable ending 4 years 4 months 24 days [3]
[1] In February 2023, the Company granted warrants to consultants in exchange for business development, investor relations and product development. Warrants issued in February 2023 provide for the purchase of an aggregate of 2,100,000 shares of common stock at an exercise price of $0.91 and $0.61 per share with a fair value of approximately $1.3 million which will be recognized upon the achievement of performance metrics and milestones. For the three months ended March 31, 2023, the Company recognized expense of $0.5 million.
[2] Represents the weighted average exercise price.
[3] Represents the weighted average remaining contractual term until the warrants expire.
[4] In March 2023, the Company issued an aggregate of 4,666,667 shares of common stock from the exercise of warrants previously issued in January 2023.