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STOCKHOLDERS’ EQUITY (Tables)
 6 Months Ended
Jun. 30, 2023
Equity [Abstract]  
SCHEDULE OF STOCK OPTIONS GRANTED ASSUMPTIONS

In applying the Black-Scholes option pricing model to stock options granted during the six months ended June 30, 2023, the Company used the following assumptions:

 

   For the
Six Months Ended		   For the
Six Months Ended		 
   June 30,   June 30, 
   2023   2022 
Risk free interest rate   4.22%   2.42%
Expected term (years)   3.50    3.50 
Expected volatility   175%   286%
Expected dividends   0.00%   0.00%
SCHEDULE OF STOCK OPTION ACTIVITY

A summary of the stock option activity during the six months ended June 30, 2023 is presented below:

 

  

Number of

Options

  

Weighted Average

Exercise Price

 
Outstanding, January 1, 2023   864,639   $5.08 
Granted   629,017    2.91 
Expired   -     — 
Forfeited   (26,766)   5.08 
Outstanding, June 30, 2023   1,466,890   $4.17 
           
Exercisable, June 30, 2023   1,041,062   $4.66 
SCHEDULE OF UNVESTED RESTRICTED STOCK UNITS

A summary of the Company’s unvested RSUs as of June 30, 2023 is as follows:

 

    Number of Shares 
Outstanding, December 31, 2022    201,870 
Granted    - 
Forfeited    - 
Vested    (104,043)
Outstanding, June 30, 2023    97,827 
SCHEDULE OF STOCK COMPENSATION BY AWARD TYPE

The following table presents stock compensation by award type:

 

   For the Three Months Ended June 30, 
   2023   2022 
Options  $321,534   $1,865,297 
RSUs   1,164,135    1,190,349 
Shares issued for services   -    48,504 
   $1,485,669   $3,104,150 

 

   For the Six Months Ended June 30, 
   2023   2022 
Options  $2,511,962   $4,004,246 
RSUs   2,312,885    2,354,474 
Shares issued for services   -    121,322 
   $4,824,847   $6,480,042