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STOCKHOLDERS’ EQUITY (Tables)

9 Months Ended

Sep. 30, 2023

Equity [Abstract]

SCHEDULE OF STOCK OPTION GRANTED ASSUMPTIONS

In applying the Black-Scholes option pricing model to stock options granted during the nine months ended September 30, 2023 and 2022, the Company used the following assumptions:

SCHEDULE OF STOCK OPTION GRANTED ASSUMPTIONS 

		For the Nine Months Ended				For the Nine Months Ended
		September 30,				September 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 nine months ended September 30, 2023 is presented below:

SCHEDULE OF STOCK OPTION ACTIVITY

		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, September 30, 2023			1,466,890			$	4.17
Exercisable, September 30, 2023			1,122,671			$	4.69

SCHEDULE OF UNVESTED RESTRICTED STOCK UNITS

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

SCHEDULE OF UNVESTED RESTRICTED STOCK UNITS

		Number of Shares
Outstanding, December 31, 2022			201,870
Granted			-
Forfeited			-
Vested			(104,043	)
Outstanding, September 30, 2023			97,827

SCHEDULE OF STOCK COMPENSATION BY AWARD TYPE

The following table presents stock compensation by award type:

SCHEDULE OF STOCK COMPENSATION BY AWARD TYPE

		For the Three Months Ended September 30,
		2023				2022
Options		$	329,571			$	1,865,297
RSUs			1,164,135				1,190,349
Shares issued for services			-				18,923
		$	1,493,706			$	3,074,528

		For the Nine Months Ended September 30,
		2023				2022
Options		$	2,841,533			$	5,869,543
RSUs			3,477,020				3,544,782
Shares issued for services			-				140,245
		$	6,318,553			$	9,554,570

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