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Share based compensation (Tables)

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Fair Value of Options Granted Black-Scholes-Merton Model

The assumptions used to determine the fair value of options granted in the three months ended March 31, 2023, using the Black-Scholes-Merton model are as follows:

 Schedule of Fair Value of Options Granted Black-Scholes-Merton Model

Dividend yield			0	%
Risk-free interest rate			3.62 % to 4.23	%
Expected volatility (weighted-average and range, if applicable)			100	%
Expected term			6 to 6.5 years

Schedule of Stock Option and Related Information

A summary of the Company’s stock option activities and related information for the three months ended March 31, 2023 is as follows:

Schedule of Stock Option and Related Information

Stock Option		No. of Stock Option				Weighted- Average Grant Date Fair Value Per Stock Option				Aggregate Fair Value
December 31, 2022			2,170,000				3.53				7,665,707
Granted			336,730			$	1.03				345,835
Exercised			-				-				-
Expired			-				-				-
Cancelled / Forfeited			(64,875	)			3.13				(202,851	)
March 31, 2023			2,441,855			$	3.20				7,808,691

Schedule of Restricted Stock Units

A summary of the Company’s RSU activities and related information for the three months ended March 31, 2023 is as follows:

 Schedule of Restricted Stock Units

Restricted Stock Units		No. of RSU				Weighted- Average Grant Date Fair Value Per RSU				Aggregate Fair Value
December 31, 2022			-				-				-
Granted			963,528			$	1.31				1,262,222
Exercised			-				-				-
Expired			-				-				-
Cancelled / Forfeited			-				-				-
March 31, 2023			963,528			$	1.31				1,262,222

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

+ References

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-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

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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
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

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-Name Accounting Standards Codification
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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.

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