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

 

      
Exercise of issued and future grants of stock options   755,715 
Conversion of convertible debt   1,943,729 
Exercise of stock warrants   3,081,717 
Total   5,781,161 
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 December 31, 2023, and changes during the twelve months 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   (209,088)   34.71    5.14 - 51.30    — 
Total outstanding – December 31, 2023   398,924   $35.21    $5.14 — $51.30    7.06 
Exercisable (vested)   320,918   $41.97    $5.14 — $51.30    6.77 
Non-Exercisable (non-vested)   78,006   $7.36    $5.14 - $32.90    8.36 

 

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 December 31, 2022, and changes during the twelve months 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   134,469    5.24    5.14 — 10.50    5.99 
Expired   (9,379)   932.75    57.50 - 14,657.50    — 
Forfeited   (1,264)   22.64    5.14 - 49.70    — 
Total outstanding – December 31, 2022   608,012   $35.02    $5.14 — $51.30    8.09 
Exercisable (vested)   288,704   $46.32    $12.40 — $51.30    7.59 
Non-Exercisable (non-vested)   319,308   $24.80    $5.14 — $10.50    8.59 
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 Years Ended December 31,

   2023   2022
Expected dividend yield   n/a   0.00%
Expected stock-price volatility   n/a   103%
Risk-free interest rate   n/a   1.58% — 3.77%
Expected average term of options (in years)   n/a   5.99
Stock price   n/a   5.14 - 10.50
SCHEDULE OF SHARE-BASED COMPENSATION EXPENSE

The Company recorded stock-based compensation expense and classified it in the Consolidated Statements of Operations as follows:

 

   2023   2022 
   For the Years Ended December 31, 
   2023   2022 
General and administrative  $939,228   $4,649,649 
Research and development   159,305    834,395 
Total  $1,098,533   $5,484,044 
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 year ended December 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   (60,000)   6.00    6.00      
Forfeited   —    —           
Total outstanding – December 31, 2023   119,046   $10.69    $0.73 — $25.40    1.25 
Exercisable   119,046   $10.69    $0.73 — $25.40    1.25 
Non-Exercisable   —   $—   $—    — 

 

The following table summarizes the equity classified compensatory warrant activity for the year ended December 31, 2022:

 

   Common Stock 
   Shares  

Weighted– Average

Exercise

Price

  

Range of

Exercise Price

  

Weighted–Average Remaining

Life (Years)

 
Total outstanding – December 31, 2021   179,046   $15.20    $11.10 — $25.40    2.64 
Granted to advisor and its designees   —    —           
Exercised   —    —           
Expired   —    —           
Forfeited   —    —           
Total outstanding – December 31, 2022   179,046   $9.12    $1.32 — $25.40    1.73 
Exercisable   179,046   $9.12    $1.32- $25.40    1.73 
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 year ended December 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   —    —           
Reclassification of Alpha Warrant from warrant liabilities to equity   2,500,000    0.73    0.73      
Exercised   —    —           
Expired   (539,953)   20.00    20.00      
Forfeited   —    —           
Total outstanding – December 31, 2023   2,507,050   $0.73           
Exercisable   2,507,050   $0.73    0.73    4.47 
Non-Exercisable   —   $—   $—    — 

 

 

The following table summarizes the noncompensatory equity classified warrant activity for the year ended December 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    11.10— 37.78    1.32 
Legacy Ritter warrants   —    —           
Granted   331,464    0.01    0.01      
Exercised   (331,464)   0.01    0.01      
Expired   (7,911)   37.78    37.78      
Forfeited   —    —    0      
Total outstanding – December 31, 2022   547,003   $19.76    1.32 - 20.00    0.33 
Exercisable   547,003   $19.76    1.32 - 20.00    0.33 
Non-Exercisable   —   $—   $—    —