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STOCKHOLDERS’ EQUITY (Tables) | 12 Months Ended
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Dec. 31, 2023
Equity [Abstract] |
SCHEDULE OF WARRANT ACTIVITY | A summary of the warrant activity during the year ended December 31, 2023 is presented below: SCHEDULE OF WARRANT ACTIVITY
|  |  |  |  |  |  |  | Weighted |
|  |  |  |  | Weighted |  |  | Average |
|  |  |  |  | Average |  |  | Remaining |
|  | Number of |  |  | Exercise |  |  | Life |
|  | Warrants |  |  | Price |  |  | In Years |
Outstanding, January 1, 2023 |  |  | 4,791,082 |  |  | $ | 10.71 |  |  |  |  |
Granted |  |  | - |  |  |  |  |  |  |  |  |
Exercised |  |  | - |  |  |  |  |  |  |  |  |
Expired |  |  | (63 | ) |  |  | 10,397 |  |  |  |  |
Outstanding, December 31, 2023 |  |  | 4,791,019 |  |  | $ | 10.57 |  |  |  | 2.9 |
Exercisable, December 31, 2023 |  |  | 4,791,019 |  |  | $ | 10.57 |  |  |  | 2.9 |
SCHEDULE OF WARRANTS GRANTED ASSUMPTIONS | In applying the Black-Scholes option pricing model to warrants granted during 2022, the Company used the following assumptions: SCHEDULE OF WARRANTS GRANTED ASSUMPTIONS
|  | For the Year Ended |
|  | December 31, 2022 |
Risk free interest rate |  |  | 4.40 | %
Expected term (years) |  |  | 5.00 |
Expected volatility |  |  | 313.55 | %
Expected dividends |  |  | 0.00 | %
SCHEDULE OF STOCK WARRANTS | The following table presents information related to stock warrants at December 31, 2023: SCHEDULE OF STOCK WARRANTS
Warrants Outstanding |  |  | Warrants Exercisable |
|  |  |  |  |  | Weighted |  |  |  |
|  |  | Outstanding |  |  | Average |  |  | Exercisable |
Exercise |  |  | Number of |  |  | Remaining Life |  |  | Number of |
Price |  |  | Warrants |  |  | In Years |  |  | Warrants |
$ | 2.92 |  |  |  | 51,370 |  |  |  | 3.9 |  |  |  | 51,370 |
$ | 10.00 |  |  |  | 4,501,938 |  |  |  | 2.9 |  |  |  | 4,501,938 |
$ | 12.00 |  |  |  | 235,970 |  |  |  | 2.9 |  |  |  | 235,970 |
$ | 60.00 |  |  |  | 250 |  |  |  | 1.0 |  |  |  | 250 |
$ | 800.00 |  |  |  | 869 |  |  |  | 0.8 |  |  |  | 869 |
$ | 2,240.00 |  |  |  | 39 |  |  |  | 0.5 |  |  |  | 39 |
$ | 2,800.00 |  |  |  | 264 |  |  |  | 0.3 |  |  |  | 264 |
$ | 3,400.00 |  |  |  | 264 |  |  |  | 0.3 |  |  |  | 264 |
$ | 4,000.00 |  |  |  | 55 |  |  |  | 0.1 |  |  |  | 55 |
|  |  |  |  | 4,791,019 |  |  |  |  |  |  |  | 4,791,019 |
SCHEDULE OF STOCK OPTION ACTIVITY | A summary of the option activity during the year ended December 31, 2023 is presented below: SCHEDULE OF STOCK OPTION ACTIVITY
|  |  |  |  |  |  |  | Weighted |  |  |  |
|  |  |  |  | Weighted |  |  | Average |  |  |  |
|  |  |  |  | Average |  |  | Remaining |  |  |  |
|  | Number of |  |  | Exercise |  |  | Life |  |  | Intrinsic |
|  | Options |  |  | Price |  |  | In Years |  |  | Value |
Outstanding, January 1, 2023 |  |  | 864,639 |  |  | $ | 5.08 |  |  |  |  |  |  |  |  |
Granted |  |  | 629,017 |  |  |  | 2.91 |  |  |  |  |  |  |  |  |
Exercised |  |  | - |  |  |  |  |  |  |  |  |  |  |  |  |
Forfeited |  |  | (26,764 | ) |  |  | 4.87 |  |  |  |  |  |  |  |  |
Outstanding, December 31, 2023 |  |  | 1,466,892 |  |  | $ | 4.11 |  |  |  | 7.4 |  |  | $ | - |
Exercisable, December 31, 2023 |  |  | 1,201,526 |  |  | $ | 4.33 |  |  |  | 7.1 |  |  | $ | - |
SCHEDULE OF INFORMATION RELATED TO STOCK OPTIONS | The following table presents information related to stock options at December 31, 2023: SCHEDULE OF INFORMATION RELATED TO STOCK OPTIONS
Options Outstanding |  |  | Options Exercisable |
|  |  |  |  |  | Weighted |  |  |  |
|  |  | Outstanding |  |  | Average |  |  | Exercisable |
Exercise |  |  | Number of |  |  | Remaining Life |  |  | Number of |
Price |  |  | Options |  |  | In Years |  |  | Options |
$ | 2.91 |  |  |  | 654,017 |  |  |  | 7.5 |  |  |  | 412,604 |
$ | 5.08 |  |  |  | 812,875 |  |  |  | 6.9 |  |  |  | 788,922 |
|  |  |  |  | 1,466,892 |  |  |  |  |  |  |  | 1,201,526 |
SCHEDULE OF STOCK OPTION GRANTED ASSUMPTIONS | In applying the Black-Scholes option pricing model to stock options granted, the Company used the following assumptions: SCHEDULE OF STOCK OPTION GRANTED ASSUMPTIONS
|  | For the Years Ended |
|  | December 31, |
|  | 2023 |  |  | 2022 |
Risk free interest rate |  |  | 4.22 | % |  |  | 2.42 | %
Expected term (years) |  |  | 3.50 |  |  |  | 3.50 |
Expected volatility |  |  | 175.00 | % |  |  | 285.91 | %
Expected dividends |  |  | 0.00 | % |  |  | 0.00 | %
SCHEDULE OF UNVESTED RESTRICTED STOCK UNITS | A summary of the unvested RSUs as of December 31, 2023 is as follows: SCHEDULE OF UNVESTED RESTRICTED STOCK UNITS
|  | Number of Shares |
Non-vested at January 1, 2023 |  |  | 201,870 |
Granted |  |  | - |
Vested |  |  | (104,043 | )
Forfeited |  |  | - |
Non-vested at December 31, 2023 |  |  | 97,827 |
SCHEDULE OF STOCK OPTION EXPENSE | The following table presents information related to stock-based compensation expense: SCHEDULE OF STOCK OPTION EXPENSE
|  | For the Years Ended |  |  | Unrecognized at |  |  | Weighted Average Remaining Amortization |
|  | December 31, |  |  | December 31, |  |  | Period |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | (Years) |
General and administrative |  | $ | 7,782,967 |  |  | $ | 12,612,862 |  |  | $ | 1,557,071 |  |  |  | 0.83 |
Total |  | $ | 7,782,967 |  |  | $ | 12,612,862 |  |  | $ | 1,557,071 |  |  |  | 0.83 |

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-1 + Details
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