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STOCKHOLDERS’ EQUITY (Tables)

3 Months Ended

Mar. 31, 2024

Equity [Abstract]

SCHEDULE OF WARRANT ACTIVITY

A summary of the Company’s warrant activity and related information follows:

 SCHEDULE OF WARRANT ACTIVITY 

										Weighted
						Weighted				Average
						Average				Remaining
		Number of				Exercise				Life
		Warrants				Price				In Years
Outstanding, January 1, 2024			4,791,019			$	10.57
Granted			2,513,686				2.43
Exercised			(3,351,580	)			2.33
Expired			(285	)			3,211
Outstanding, March 31, 2024			3,952,840			$	4.10				4.1
Exercisable, March 31, 2024			3,952,840			$	4.10				4.1

SCHEDULE OF WARRANT ACTIVITY

A summary of the Company’s warrant activity and related information follows:

 SCHEDULE OF WARRANT ACTIVITY 

										Weighted
						Weighted				Average
						Average				Remaining
		Number of				Exercise				Life
		Warrants				Price				In Years
Outstanding, January 1, 2024			4,791,019			$	10.57
Granted			2,513,686				2.43
Exercised			(3,351,580	)			2.33
Expired			(285	)			3,211
Outstanding, March 31, 2024			3,952,840			$	4.10				4.1
Exercisable, March 31, 2024			3,952,840			$	4.10				4.1

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 Three Months Ended
		March 31,
		2024				2023
Risk free interest rate			4.14 – 4.30	%			4.22	%
Expected term (years)			2.77 – 5.27				3.5
Expected volatility			101 - 102	%			175	%
Expected dividends			0.00	%			0.00	%

SCHEDULE OF STOCK OPTION ACTIVITY

A summary of the stock option activity during the three months ended March 31, 2024 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, 2024			1,466,892			$	4.11
Granted			1,934,716				1.45
Exercised			-				-
Forfeited			-				-
Outstanding, March 31, 2024			3,401,608			$	2.60				8.3			$	-
Exercisable, March 31, 2024			2,028,811			$	3.22				7.9			$	-

SCHEDULE OF UNVESTED RESTRICTED STOCK UNITS

A summary of the Company’s unvested RSUs as of March 31, 2024 is as follows:

SCHEDULE OF UNVESTED RESTRICTED STOCK UNITS 

		Number of Shares
Non-vested at January 1, 2024			97,827
Granted			-
Vested			(97,827	)
Forfeited			-
Non-vested at March 31, 2024			-

SCHEDULE OF STOCK OPTION EXPENSE

The following table presents information related to stock-based compensation expense:

SCHEDULE OF STOCK OPTION EXPENSE 

		For the Three Months Ended								Unrecognized at				Weighted Average Remaining
		March 31,								March 31,				Amortization Period
		2024				2023				2024				(Years)
General and administrative		$	2,028,374			$	3,378,495			$	1,668,697				2.04
Total		$	2,028,374			$	3,378,495			$	1,668,697				2.04

SCHEDULE OF STOCK COMPENSATION BY AWARD TYPE

The following table presents stock-based compensation by award type:

SCHEDULE OF STOCK COMPENSATION BY AWARD TYPE

		For the Three Months Ended
		March 31,
		2024				2023
Options		$	1,043,336			$	2,190,428
RSUs			985,038				1,188,067
Total		$	2,028,374			$	3,378,495

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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.

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