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CONVERTIBLE PROMISSORY NOTES PAYABLE (Tables)
 3 Months Ended
Mar. 31, 2023
Debt Disclosure [Abstract]  
SUMMARY OF OUTSTANDING PROMISSORY NOTES

The following table summarizes the outstanding promissory notes as of March 31, 2023 and December 31, 2022 (dollars in thousands):

 

       March 31, 2023   December 31, 2022 
   Interest rate   Principal Amount   Carrying Amount   Principal Amount   Carrying Amount 
Convertible Note - Talos Victory (Note 9 (b))   8%  $-   $-   $-    - 
Convertible Note - Mast Hill (Note 9 (b))   8%   725,000    639,400    740,000    635,535 
Convertible Note - First Fire (Note 9 (b))   8%   176,250    156,466    181,250    156,594 
Convertible Note - LGH Note 9 (b))   8%   202,500    188,949    207,500    188,987 
Convertible Note - Fourth Man (Note 9 (b))   8%   152,000    129,322    157,000    128,703 
Convertible Note - Jeffery Street Note 9 (b))   8%   165,000    136,809    170,000    142,554 
Convertible Note - Blue Lake Note 9 (b))Total   8%   -    -    -    - 
Total       $1,420,750   $1,250,946   $1,455,750   $1,252,373 
Amortization of discounts for the three months ended March 31, 2023
             (5,186)          
Convertible promissory notes payable as of March 31, 2023            $1,245,760           
SCHEDULE OF FAIR VALUE OF WARRANTS

The fair values of these warrants as of March 31, 2023 were calculated using the Black-Scholes option-pricing model with the following assumptions:

 

           March 31, 2023 
   Volatility (%)   Expected dividends yield (%)   Weighted average expected life (year)   Risk-free interest rate (%) (per annum)   Common stock purchase warrants liability as of December 31, 2022(US$)   Changes of fair value of common stock purchase warrants liability
(+ (loss)/(- (gain)(US$)		   Common stock purchase warrants liability as of March 31, 2023 (US$) 
Convertible Note - Talos Victory (Note 9 (a))   337.7%  $0.0%  $1.6    4.35%   14,803    5,663    20,466 
Convertible Note - Mast Hill (Note 9 (a))   337.7%   0.0%   1.6    4.35%   101,293    38,623    139,916 
Convertible Note - First Fire (Note 9 (a))   337.7%   0.0%   1.6    4.35%   33,919    12,883    46,802 
Convertible Note - LGH Note 9 (a))   337.7%   0.0%   1.7    4.35%   34,028    12,888    46,916 
Convertible Note - Fourth Man (Note 9 (ab))   337.7%   0.0%   1.7    4.35%   14,398    5,444    19,842 
Convertible Note - Jeffery Street Note 9 (a))3,054   337.7%   0.0%   1.7    4.35%   34,134    12,892    47,026 
Convertible Note - Blue Lake Note 9 (a))   337.7%   0.0%   1.7    4.35%   24,382    9,209    33,591 
Total                  Total    256,957    97,602    354,559