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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
12 Months Ended
Dec. 31, 2021
Accounting Policies [Abstract]  
SCHEDULE OF FAIR VALUE ASSETS AND LIABILITIES MEASURED ON RECURRING BASIC

The assets or liability’s fair value measurement within the fair value hierarchy is based upon the lowest level of any input that is significant to the fair value measurement. The following table provides a summary of financial instruments that are measured at fair value on a recurring basis as of December 31, 2021.

 

   Carrying   Fair Value Measurement Using 
   Value   Level 1   Level 2   Level 3   Total 
Marketable securities  $9,830,085   $9,830,085   $   $   $9,830,085 
Derivative warrants liabilities  $   $   $   $   $ 

 

The following table provides a summary of financial instruments that are measured at fair value on a recurring basis as of December 31, 2020.

 

   Carrying   Fair Value Measurement Using 
   Value   Level 1   Level 2   Level 3   Total 
Marketable securities  $   $   $   $   $ 
Derivative warrants liabilities  $83,670   $   $   $83,670   $83,670 
SCHEDULE OF FAIR VALUE, LIABILITIES MEASURED ON RECURRING BASIS, UNOBSERVABLE INPUT RECONCILIATION

The table below provides a summary of the changes in fair value, including net transfers in and/or out, of all financial assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the year ended December 31, 2021:

 

   Fair Value Measurement Using Level 3 
   Inputs Total 
Balance, December 31, 2020  $83,670 
Change in fair value of derivative warrants liabilities   (83,670)
Balance, December 31, 2021  $- 
SCHEDULE OF FAIR VALUE MEASUREMENTS, RECURRING AND NONRECURRING, VALUATION TECHNIQUES

 

   December 31, 2020 
Exercise price   1.25 
Risk free interest rate   0.09%
Dividend yield   0.00%
Expected volatility   169%
Contractual term   0.14 Years 
SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE

 

   Potentially Outstanding
Dilutive Common Shares
 
   For the Year Ended December 31, 2021   For the Year Ended December 31, 2020 
         
Conversion Feature Shares          
           
Common shares issuable under the conversion feature of preferred shares   -    872,766 
           
Stock Options   5,520,861    5,597,861 
           
Warrants   6,132,630    4,007,058 
           
Convertible Notes   412,000    1,598,000 
           
Total potentially outstanding dilutive common shares   12,065,491    12,075,685