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CAPITAL STOCK (Tables)
 9 Months Ended 12 Months Ended
Sep. 30, 2023
Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]    
SCHEDULE OF STOCK OPTION ACTIVITY

The following table summarizes common stock options activity: The following table summarizes common stock options activity:

 

   Options   Weighted Average
Exercise Price		 
December 31, 2021   -   $- 
Granted   1,250,000    1.10 
Exercised   -    - 
Expired   -    - 
Outstanding, December 31, 2022   1,250,000   $1.10 
Exercisable, December 31, 2022   133,333   $1.10 
Outstanding, September 30, 2023   1,250,000   $1.10 
           
Granted   150,000   $1.10 
Exercised   -    - 
Expired   -    - 
Outstanding, September 30, 2023   1,400,000   $1.10 
Exercisable, September 30, 2023   454,167   $1.10 

 

The weighted average exercise prices, remaining lives for options granted, and exercisable as of September 30, 2023 were as follows:

 

    Outstanding Options       Exercisable Options 
Options Exercise
Price Per
Share		   Shares   Life
(Years)		  

Weighted

Average
Exercise Price

   Shares  

Weighted

Average
Exercise Price

 
$1.10    1,400,000    4.53   $1.10    454,167   $1.10 

The following table summarizes common stock options activity:

  

   Options  

Weighted Average

Exercise Price

 
December 31, 2021   -   $- 
Granted   1,250,000    1.10 
Exercised   —    — 
Expired   —    — 
Outstanding, December 31, 2022   1,250,000   $1.10 
Exercisable, December 31, 2022   133,333   $1.10 

 

The weighted average exercise prices, remaining lives for options granted, and exercisable as of December 31, 2022 were as follows:

 

    Outstanding Options   Exercisable Options 

Options Exercise

Price Per Share

   Shares  

Life

(Years)

  

Weighted Average

Exercise Price

   Shares  

Weighted Average

Exercise Price

 
$1.10    1,250,000    4.67   $1.10    133,333   $1.10 
SCHEDULE OF FAIR VALUE ASSUMPTIONS

Fair Value of Common Stock on measurement date  $1.00 
Risk free interest rate   3.64% - 3.30%
Volatility   224.70% 92.54%
Dividend Yield   0%
Expected Term   6.0 - 3.5 

 

  (1) The risk-free interest rate was determined by management using the market yield on U.S. Treasury securities with comparable terms as of the measurement date.
  (2) The trading volatility was determined by calculating the volatility of the Company’s peer group.
  (3) The Company does not expect to pay a dividend in the foreseeable future
  (4) The Company, in accordance with staff accounting bulletin (“SAB”)14-D.2, used the simplified method (plain vanilla) to determine the overall expected term

Fair Value of Common Stock on measurement date  $1.00 
Risk free interest rate   3.30%
Volatility   92.54%
Dividend Yield   0%
Expected Term   3.5 

 

  (1) The risk-free interest rate was determined by management using the market yield on U.S. Treasury securities with comparable terms as of the measurement date.
  (2) The trading volatility was determined by calculating the volatility of the Company’s peer group.
  (3) The Company does not expect to pay a dividend in the foreseeable future.
  (4) The Company, in accordance with Staff Accounting Bulletin (SAB) 14-D.2, used the simplified method (plain vanilla) to determine the overall expected term.
SCHEDULE OF WARRANT ACTIVITY

The following table summarizes common stock warrant activity:

   Warrants  

Weighted

Average
Exercise Price

 
Outstanding, December 31, 2021   -   $- 
Granted   2,210,070    1.00 
Exercised   -    - 
Expired   -    - 
Cancelled   (210,070)   1.00 
Outstanding, December 31, 2022   2,000,000    1.00 
Exercisable, December 31, 2022   2,000,000   $1.00 
           
Granted   87,500    5.00 
Exercised   (1,024,500)   1.00 
Expired   -    - 
Cancelled   -    - 
Outstanding, September 30, 2023   1,063,000    1.30 
Exercisable, September 30, 2023   975,500   $1.00 

 

The weighted average exercise prices, remaining lives for warrants granted, and exercisable as of September 30, 2023, were as follows:

 

    Outstanding and Vested Warrants 
Weighted Average Warrant Exercise Price Per Share   Shares   Life (Years) 
$1.00    1,063,000    3.83 

The following table summarizes common stock warrants activity:

 

   Warrants  

Weighted Average

Exercise Price

 
Outstanding, December 31, 2021   -   $- 
Granted   2,210,070    1.00 
Exercised   —    — 
Expired   -    - 
Cancelled   (210,070)   1.00 
Outstanding, December 31, 2022   2,000,000    1.00 
Exercisable, December 31, 2022   2,000,000   $1.00 

 

 

The weighted average exercise prices, remaining lives for warrants granted, and exercisable as of December 31, 2022, were as follows:

 

Warrants Exercise   Outstanding and Exercisable Warrants 

Price Per Share

   Shares  

Life (Years)

 
$1.00    2,000,000    4.74 
Warrant [Member]    
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]    
SCHEDULE OF FAIR VALUE ASSUMPTIONS

Fair Value of Common Stock on measurement date  $0.37 - $0.72 
Risk-free interest rate   From 2.95% to 4.00%
Volatility   From 88.92% to 92.87%
Dividend Yield   0%
Expected Term   5 years 

 

  (1) The risk-free interest rate was determined by management using the market yield on U.S. Treasury securities with comparable terms as of the measurement date.
  (2) The trading volatility was determined by calculating the volatility of the Company’s peer group.
  (3) The Company does not expect to pay a dividend in the foreseeable future.

 

Fair Value of Common Stock on measurement date  $0.62 - $0.72 
Risk free interest rate   From 2.95% to 4.00% 
Volatility   From 88.92% to 92.87% 
Dividend Yield   0% 
Expected Term   5 years 

 

  (1) The risk-free interest rate was determined by management using the market yield on U.S. Treasury securities with comparable terms as of the measurement date.
  (2) The trading volatility was determined by calculating the volatility of the Company’s peer group.
  (3) The Company does not expect to pay a dividend in the foreseeable future.