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STOCKHOLDERS’ EQUITY (Tables)
 3 Months Ended
Mar. 31, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]  
SCHEDULE OF RESERVED SHARES

 

      
Exercise of issued and future grants of stock options   552,561 
Exercise of stock warrants   4,254,766 
Total   4,807,327 
SCHEDULE OF STOCK OPTION ACTIVITY

The following represents a summary of the options granted to employees and non-employee service providers that were outstanding at March 31, 2023, and changes during the three-month period then ended:

 

   Shares   Weighted–
Average
Exercise
Price		   Range of
Exercise
Price		   Weighted–
Average
Remaining
Life (Years)		 
Total outstanding – December 31, 2022   608,012   $35.02   $5.14 - $51.30    8.09 
Granted   —    —    —    — 
Expired   —    —    —    — 
Forfeited   (55,451)   33.05    5.14 - 51.30    — 
Total outstanding – March 31, 2023   552,561   $35.22   $5.14 — $51.30    7.82 
Exercisable (vested)   290,438   $46.17   $10.50 — $51.30    7.35 
Non-Exercisable (non-vested)   262,123   $23.08   $5.14 - $51.30    8.40 

 

The following represents a summary of the options granted (under the 2020 Plan and otherwise) to employees and non-employee service providers that were outstanding at March 31, 2022, and changes during the three-month period then ended:

 

   Shares   Weighted–
Average
Exercise
Price		   Range of
Exercise
Price		   Weighted–
Average
Remaining
Life (Years)		 
Total outstanding – December 31, 2021   484,186   $60.70   $12.40 — $14,657.50    8.52 
Granted   2,500    10.50    10.50    9.79 
Expired   —    —    —    — 
Forfeited   (283)   30.00    12.40 - 49.70    — 
Total outstanding – March 31, 2022   486,403   $60.50   $10.50 — $14,657.50    8.28 
Exercisable (vested)   141,720   $108.30   $32.90 — $14,657.50    7.69 
Non-Exercisable (non-vested)   344,683   $40.80   $10.50 — $51.30    8.57 
SCHEDULE OF ASSUMPTION USED IN BLACK-SCHOLES OPTION-PRICING METHOD

The material factors incorporated in the Black-Scholes model in estimating the fair value of the options granted for the periods presented were as follows:

 

   For the Three Months Ended
March 31,		 
   2023   2022 
Expected dividend yield   0.00%   0.00%
Expected stock-price volatility   —    102%
Risk-free interest rate   —    1.58% — 1.67 %
Expected average term of options (in years)   —    6.00 
Stock price  $—   $1.05 
SCHEDULE OF SHARE-BASED COMPENSATION EXPENSE

The Company recorded share-based compensation expense and classified it in the condensed consolidated statements of operations as follows:

 

   2023   2022 
   For the Three Months
Ended
March 31,		 
   2023   2022 
General and administrative  $203,722   $1,113,384 
Research and development   48,504    153,782 
Total  $252,226   $1,267,166 
Compensatory Warrant Activity [Member]  
Accumulated Other Comprehensive Income (Loss) [Line Items]  
SCHEDULE OF WARRANT ACTIVITY

The following table summarizes the equity classified compensatory warrant activity for the three months ended March 31, 2023:

 

   Common Stock 
   Shares   Weighted– Average
Exercise
Price		   Range of
Exercise Price		   Weighted–
Average
Remaining
Life (Years)		 
Total outstanding – December 31, 2022   179,046   $9.12    $1.32 — $25.40    1.73 
Granted to advisor and its designees   —    —           
Exercised   —    —           
Expired   —    —           
Forfeited   —    —           
Total outstanding – March 31, 2023   179,046   $9.12    $1.32 — $25.40    1.48 
Exercisable   179,046   $9.12    $1.32 — $25.40    1.48 
Non-Exercisable   —   $—   $—    — 

 

The following table summarizes the equity classified compensatory warrant activity for the three months ended March 31, 2022:

 

   Common Stock 
   Shares   Weighted– Average
Exercise
Price		   Range of
Exercise Price		   Weighted–
Average
Remaining
Life (Years)		 
Total outstanding – December 31, 2021   179,065   $15.20    $11.10 — $25.40    2.64 
Granted to advisor and its designees   —    —           
Exercised   —    —           
Expired   —    —           
Forfeited   —    —           
Total outstanding – March 31, 2022   179,065   $15.20    $11.10 — $25.40    2.39 
Exercisable   179,065   $15.20    $11.10 — $25.40    2.39 
Non-Exercisable   —   $—   $—    — 
Non Compensatory Warrant Activity [Member]  
Accumulated Other Comprehensive Income (Loss) [Line Items]  
SCHEDULE OF WARRANT ACTIVITY

The following table summarizes the noncompensatory equity classified warrant activity for the three months ended March 31, 2023:

 

   Common Stock 
   Shares   Weighted–
Average
Exercise
Price		   Range of
Exercise Price		   Weighted–
Average
Remaining
Life (Years)		 
Total outstanding – December 31, 2022   547,003   $19.76    1.32 - 20.00    0.33 
Legacy Ritter warrants   —    —    -      
Granted   —    —    -      
Exercised   —    —           
Expired   (320,853)   20.00    20.00      
Forfeited   —    —    -      
Total outstanding – March 31, 2023   226,150   $19.42    -     
Exercisable   226,150   $19.42    $1.32 — $20.00    0.46 
Non-Exercisable   —   $—   $—    — 

 


 

The following table summarizes the noncompensatory equity classified warrant activity for the three months ended March 31, 2022:

 

   Common Stock 
   Shares   Weighted–
Average
Exercise
Price		   Range of
Exercise Price		   Weighted–
Average
Remaining
Life (Years)		 
Total outstanding – December 31, 2021   554,914   $20.10    -      
Legacy Ritter warrants   —    —    -      
Granted   —    —           
Exercised   —    —           
Expired   —    —           
Forfeited   —    —           
Total outstanding – March 31, 2022   554,914   $20.10           
Exercisable   554,914   $20.10    $11.10 — $37.70    1.07 
Non-Exercisable   —   $—   $—    —