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SHAREHOLDERS’ DEFICIT (Tables)
12 Months Ended
Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of warrants issued and outstanding
               
   Warrants  Weighted average exercise price  Weighted
average
remaining
contractual life
(in years)
Outstanding as of December 31, 2019 (a)   21,000   $0.0001    1.3 
Issued (b)   4,094   $420    0.9 
Exercised   (21,838)  $(6.34)   1 
Expired   (1,209)  $(420)   (0.6)
Outstanding as of December 31, 2020 (b)   2,047   $420    0.6 
Issued (b)   2,120   $420    0.5 
Issued (a)   144,445   $9.90    5.0 
Exercised (b)   (307)  $(420)   —   
Expired        $      —   
Outstanding as of December 31, 2021   148,305   $20.57    4.88 

(a) Common stock will be issued if those warrants exercise The 144,445 warrants having intrinsic value of $73,667 as of December 31, 2021.

 

(b) Preferred stock series C-1 will be issued if those warrants exercise. Further, those preferred stock series C-1 will automatically convert into the 1,158,000 and 614,400 common stock with the intrinsic value of $10,433,580 and nil as of December 31, 2021 and 2020, respectively.
Schedule of Stock Award
                
   Share option  Weighted average exercise price  Weighted
average
remaining
contractual life
(in years)
Outstanding as of December 31, 2019          $      —   
Granted                —   
Exercised                —   
Expired                —   
Outstanding as of December 31, 2020                —   
Granted    1,945,270    6.49    10 
Exercised                 —   
Expired                —   
Outstanding as of December 31, 2021    1,945,270   $6.49    10 
Warrant [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Stock option assumptions
          
   Before modification  After Modification
Dividend rate   0%   0%
Risk-free rate   0.06%   0.12%
Weighted average expected life (years)   9 months    18 months 
Expected volatility   25%   25%
Exercise price  $1.4   $1.4 

 

(a) The Company considered 25% volatility as from inception through the date of the Company common stocks.
Equity Option [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Stock option assumptions
     
   December 31, 2021
Dividend rate   0%
Risk-free rate   1.52%
Weighted average expected life (years)   10 years 
Expected volatility   130%
Share price  $6.49 
Stock Awards Axis [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Stock Award
               
Unvested as of December 31, 2019         $      —   
Issued               —   
Vested               —   
Cancelled               —   
Unvested as of December 31, 2020                —   
Issued   814,950    7.65    2 years 
Vested    (162,990)   7.65    —   
Cancelled               —   
Unvested as of December 31, 2021   651,960   $7.65    1.67 years 

 

Shares Unvested at period-end   651,960   $7.65