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CAPITAL STOCK (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
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: SCHEDULE OF STOCK OPTION 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, December 31, 2023 |  |  | 1,250,000 |  |  | $ | 1.10 |
Granted |  |  | 1,400,000 |  |  | $ | 0.40 |
Exercised |  |  | - |  |  |  | - |
Expired |  |  | - |  |  |  | - |
Outstanding, December 31, 2023 |  |  | 2,650,000 |  |  | $ | 0.73 |
Exercisable, December 31, 2023 |  |  | 1,812,500 |  |  | $ | 0.73 |
The weighted average exercise prices, remaining lives for options granted, and exercisable as of December 31, 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 |  |  |  | 4.28 |  |  | $ | 1.10 |  |  |  | 562,500 |  |  | $ | 1.10 |
$ | 0.32 |  |  |  | 1,250,000 |  |  |  | 5.00 |  |  | $ | 0.32 |  |  |  | 1,250,000 |  |  | $ | 0.32 |
SCHEDULE OF FAIR VALUE ASSUMPTIONS | SCHEDULE OF FAIR VALUE ASSUMPTIONS
Fair Value of Common Stock on measurement date |  | $ | 1.00 – 0.32 |
Risk free interest rate |  |  | 3.83% - 3.30 | %
Volatility |  |  | 232.05% 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
SCHEDULE OF WARRANT ACTIVITY | The following table summarizes common stock warrants activity: SCHEDULE OF 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 |  |  | 367,500 |  |  |  | 1.22 |
Exercised |  |  | (1,024,500 | ) |  |  | 1.00 |
Expired |  |  | - |  |  |  | - |
Cancelled |  |  | - |  |  |  | - |
Outstanding, December 31, 2023 |  |  | 1,343,000 |  |  |  | 1.43 |
Exercisable, December 31, 2023 |  |  | 1,343,000 |  |  | $ | 1.43 |
The weighted average exercise prices, remaining lives for warrants granted, and exercisable as of December 31, 2023, were as follows:
|  |  | Outstanding and Vested Warrants |
Weighted Average Warrant Exercise Price Per Share |  |  | Shares |  |  | Life (Years) |
$ | 1.43 |  |  |  | 1,343,000 |  |  |  | 2.07 |
Warrant [Member] |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
SCHEDULE OF FAIR VALUE ASSUMPTIONS | SCHEDULE OF FAIR VALUE ASSUMPTIONS
Fair Value of Common Stock on measurement date |  | $ | 0.37 - $0.97 |
Risk-free interest rate |  |  | From 2.95% to 4.00 | %
Volatility |  |  | From 81.92% to 169.22 | %
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.

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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 -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + 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 -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-1 + Details
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- Definition Line items represent financial concepts included in a table. 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