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OTHER ASSETS | 12 Months Ended
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Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] |
OTHER ASSETS | NOTE 10 – OTHER ASSETS On April 9, 2020, pursuant to a licensing agreement entered into in March 2020, the Company received 10-year warrants to purchase 127,000 shares of Sanuwave Health, Inc. at a price of $0.19 per share. The fair value for warrants received is estimated at the date of grant using a Black-Scholes-Merton pricing model with the following underlying assumptions: SCHEDULE OF WARRANTS ASSUMPTIONS
|  | 2023 |  |  | 2022 |
Price at valuation |  | $ | 0.01 |  |  | $ | 0.02 |
Exercise price |  | $ | 0.19 |  |  | $ | 0.19 |
Risk free interest |  |  | 3.88 | % |  |  | 3.96 | %
Expected term (in years) |  |  | 7 |  |  |  | 8 |
Volatility |  |  | 147.8 | % |  |  | 155.6 | %
The Company considers this to be Level 3 inputs and is valued at each reporting period. The fair value of these warrants for the years ended December 31, 2023 and 2022 was $1,000 and $3,000, respectively. There was a net $2,000 and $16,000 change in fair value during the year ended December 31, 2023 and 2022, respectively. Financial Liabilities Measured at Fair Value on a Recurring Basis The fair value accounting standards define fair value as the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is determined based upon assumptions that market participants would use in pricing an asset or liability. Fair value measurements are rated on a three-tier hierarchy as follows:
● | Level 1 inputs: Quoted prices (unadjusted) for identical assets or liabilities in active markets;
● | Level 2 inputs: Inputs, other than quoted prices included in Level 1, that are observable either directly or indirectly; and
● | Level 3 inputs: Unobservable inputs for which there is little or no market data, which require the reporting entity to develop its own assumptions.
There were no transfers between Level 3 during the years ended December 31, 2023 and 2022. The following table presents changes in Level 3 asset and liability measured at fair value for the years ended December 31, 2023 and 2022: SCHEDULE OF CHANGES IN LEVEL 3 AND LIABILITY MEASURED AT FAIR VALUE
|  | As of December 31, 2023 |
|  | Asset |  |  | Liability |
Balance – December 31, 2021 |  | $ | 19,000 |  |  | $ | - |
Fair value adjustments – Sanuwave warrants |  |  | (16,000 | ) |  |  | - |
Balance – December 31, 2022 |  | $ | 3,000 |  |  | $ | - |
Fair value adjustments – Sanuwave warrants |  |  | (2,000 | ) |  |  | - |
Balance – December 31, 2023 |  | $ | 1,000 |  |  | $ | - |
The following table sets forth the Company’s assets and liabilities which are measured at fair value on a recurring basis by level within the fair value hierarchy: SCHEDULE OF ASSETS AND LIABILITIES MEASURED AT FAIR VALUE
|  | Level I |  |  | Level II |  |  | Level III |  |  | Total |
|  | Fair Value Measurements as of December 31, 2023 |
|  | Level I |  |  | Level II |  |  | Level III |  |  | Total |
Asset: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other assets |  | $ | - |  |  | $ | - |  |  | $ | 1,000 |  |  | $ | 1,000 |
|  | Level I |  |  | Level II |  |  | Level III |  |  | Total |
|  | Fair Value Measurements as of December 31, 2022 |
|  | Level I |  |  | Level II |  |  | Level III |  |  | Total |
Asset: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other assets |  | $ | - |  |  | $ | - |  |  | $ | 3,000 |  |  | $ | 3,000 |

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- Definition The entire disclosure for other assets. This disclosure includes other current assets and other noncurrent assets. + References No definition available. + Details
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