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STOCK-BASED COMPENSATION EXPENSE (Tables) | 9 Months Ended
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Sep. 30, 2023
Share-Based Payment Arrangement [Abstract] |
SCHEDULE OF STOCK BASED COMPENSATION | The Company recorded stock-based compensation for the three and nine months ended September 30, 2023 and 2022, respectively, that were included in the following line items in our condensed consolidated statements of operations (in thousands): SCHEDULE OF STOCK BASED COMPENSATION
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
|  | Three months ended September 30, |  |  | Nine months ended September 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Cost of revenue |  | $ | 22 |  |  | $ | 9 |  |  | $ | 82 |  |  | $ | 26 |
Research and development |  |  | 47 |  |  |  | 16 |  |  |  | 113 |  |  |  | 43 |
Selling |  |  | 30 |  |  |  | 8 |  |  |  | 72 |  |  |  | 18 |
General and administrative |  |  | 150 |  |  |  | 86 |  |  |  | 380 |  |  |  | 220 |
Total |  | $ | 249 |  |  | $ | 119 |  |  | $ | 647 |  |  | $ | 307 |
SCHEDULE OF RESTRICTED STOCK AWARDS | The following table summarizes restricted stock awards through September 30, 2023: SCHEDULE OF RESTRICTED STOCK AWARDS
|  |  |  |  | Weighted |
|  | Restricted |  |  | Average |
|  | Awards |  |  | Exercise |
|  | (in shares) |  |  | Price |
Unvested restricted stock awards at January 1, 2023 |  |  | - |  |  | $ | - |
Granted |  |  | 29,660 |  |  |  | 6.57 |
Exercised |  |  | (6,699 | ) |  |  | 6.68 |
Forfeited |  |  | - |  |  |  | - |
Unvested restricted stock awards at September 30, 2023 |  |  | 22,961 |  |  |  | 6.53 |
SCHEDULE OF WEIGHTED AVERAGE ASSUMPTIONS | SCHEDULE OF WEIGHTED AVERAGE ASSUMPTIONS
Stock price |  | $ | 14.02 |
Exercise price |  | $ | 14.02 |
Dividend yield |  |  | 0 | %
Expected volatility |  |  | 72 | %
Risk-free interest rate |  |  | 3.39 | %
Expected life (in years) |  |  | 6.00 |
SCHEDULE OF STOCK OPTIONS AWARDS | The following table summarizes stock options awards through September 30, 2023: SCHEDULE OF STOCK OPTIONS AWARDS
|  |  |  |  | Weighted |
|  | Stock Option |  |  | Average |
|  | Awards |  |  | Exercise |
|  | (in shares) |  |  | Price |
Outstanding at January 1, 2023 |  |  | 673,000 |  |  | $ | 5.70 |
Granted |  |  | 254,000 |  |  |  | 14.02 |
Exercised |  |  | (20,625 | ) |  |  | 4.18 |
Forfeited |  |  | (32,500 | ) |  |  | 6.57 |
Outstanding at September 30, 2023 |  |  | 873,875 |  |  |  | 8.12 |
SCHEDULE OF OUTSTANDING AND EXERCISABLE OPTIONS RANGES OF EXERCISE PRICES | The following table summarizes information about the outstanding and exercisable options at September 30, 2023 by ranges of exercise prices: SCHEDULE OF OUTSTANDING AND EXERCISABLE OPTIONS RANGES OF EXERCISE PRICES
|  |  | Options Outstanding |  |  | Options Exercisable |
|  |  |  |  | Weighted |  | Weighted |  |  |  |  |  |  |  | Weighted |  |  |  |
|  |  |  |  | Average |  | Average |  |  |  |  |  |  |  | Average |  |  |  |
Exercise |  |  | Number |  | Remaining |  | Exercise |  |  | Intrinsic |  |  | Number |  | Exercise |  |  | Intrinsic |
Price Range |  |  | Outstanding |  | Contractual |  | Price |  |  | Value |  |  | Exercisable |  | Price |  |  | Value |
$ | 4.00-7.00 |  |  | 487,375 |  | 8.1 |  | $ | 4.56 |  |  | $ | 1,020,173 |  |  | 209,375 |  | $ | 4.49 |  |  | $ | 451,941 |
$ | 7.01-10.00 |  |  | 20,000 |  | 4.6 |  | $ | 8.07 |  |  | $ | - |  |  | 20,000 |  | $ | 8.07 |  |  | $ | - |
$ | 10.01-13.00 |  |  | 130,000 |  | 4.3 |  | $ | 11.51 |  |  | $ | - |  |  | 120,000 |  | $ | 10.52 |  |  | $ | - |
$ | 13.01-16.00 |  |  | 236,500 |  | 9.5 |  | $ | 14.11 |  |  | $ | - |  |  | - |  |  | - |  |  | $ | - |

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