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SHARE-BASED COMPENSATION (Tables)
9 Months Ended
Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]  
SCHEDULE OF STOCK OPTION ACTIVITY

A summary of the stock option activity for the nine-month periods ended September 30, 2024 and 2023 is as follows:

 

           Weighted-    
       Weighted-   Average    
  

   Average   Remaining  Aggregate 
  Number of   Exercise Contractual   Intrinsic  
   Options   Price   Term  Value 
                          
Outstanding at January 1, 2023   871,250   $4.62   5.6 years  $- 
Forfeited   (25,000)  $6.00      $- 
Outstanding at March 31, 2023   846,250   $4.63   5.5 years  $- 
Exercisable at March 31, 2023   736,875   $4.43   5.2 years  $- 
Outstanding at June 30, 2023   846,250   $4.63   5.3 years  $- 
Exercisable at June 30, 2023   752,500   $4.46   5.0 years  $- 
Outstanding at September 30, 2023   846,250   $4.63   5.0 years  $- 
Exercisable at September 30, 2023   768,125   $4.49   4.78 years  $- 
                   
Outstanding at January 1, 2024   846,250   $4.63   4.8 years  $- 
Outstanding at March 31, 2024   846,250   $4.63   4.5 years  $- 
Exercisable at March 31, 2024   799,375   $4.55   4.4 years  $- 
Outstanding at June 30, 2024   846,250   $4.63   4.3 years  $- 
Exercisable at June 30, 2024   815,000   $4.58   4.2 years  $- 
Outstanding at September 30, 2024   846,250   $4.63   4.0 years  $- 
Exercisable at September 30, 2024   830,625   $4.61   3.96 years  $- 
SCHEDULE OF ACTIVITY OF UNVESTED RESTRICTED STOCK AWARDS

 

   Weighted-     
   Number of   Weighted- 
   Restricted   Average 
   Stock   Grant Date 
   Awards   Fair Value 
         
Nonvested at January 1, 2024   46,073   $          1.05 
Granted   136,427   $1.05 
Vested   (34,574)  $1.05 
Nonvested at March 31, 2024   147,926      
Vested   (18,500)  $1.05 
Nonvested at June 30, 2024   129,426      
Vested   (54,214)  $1.05 
Nonvested at September 30, 2024   75,212