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SHARE CAPITAL AND OTHER EQUITY INSTRUMENTS (Tables) | 12 Months Ended
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Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
SCHEDULE OF STOCK OPTIONS | SCHEDULE OF STOCK OPTIONS
|  | Number of Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Grant Date Fair Value |  |  | Weighted Average Remaining Contractual Term (years) |  | Aggregate Intrinsic Value |
Outstanding – January 1, 2020 |  |  | 797,373 |  |  | $ | 1.99 |  |  | $ | 0.72 |  |  |  | 5.0 |  | $ | — |
Granted |  |  | 378,800 |  |  | $ | 0.94 |  |  |  | 5.22 |  |  |  |  |  |  |  |
Expired forfeited, or cancelled |  |  | (246,408 | ) |  | $ | 1.94 |  |  |  | 0.88 |  |  |  |  |  |  |  |
Outstanding – December 31, 2020 |  |  | 929,765 |  |  | $ | 1.53 |  |  | $ | 2.50 |  |  |  | 6.1 |  | $ | 2,537,245 |
Granted |  |  | 124,100 |  |  | $ | 2.98 |  |  | $ | 2.32 |  |  |  |  |  |  |  |
Options assumed pursuant to acquisition of MagicMed |  |  | 973,840 |  |  | $ | 1.34 |  |  | $ | 1.84 |  |  |  |  |  |  |  |
Exercised |  |  | (143,796 | ) |  | $ | 0.23 |  |  | $ | 5.69 |  |  |  |  |  |  |  |
Expired forfeited, or cancelled |  |  | (692,475 | ) |  | $ | 1.69 |  |  | $ | 1.62 |  |  |  |  |  |  |  |
Outstanding – December 31, 2021 |  |  | 1,191,434 |  |  | $ | 1.58 |  |  | $ | 2.07 |  |  |  | 5.3 |  | $ | 34,333 |
Exercisable at December 31, 2021 |  |  | 958,915 |  |  | $ | 1.50 |  |  | $ | 2.01 |  |  |  | 4.5 |  | $ | 13,733 |
SCHEDULE OF STOCK OPTION ASSUMPTION | Options granted during the years ended December 31, 2021 and 2020 were valued using the Black Scholes model with the following assumptions: SCHEDULE OF STOCK OPTION ASSUMPTION
|  | December 31, 2021 |  |  | December 31, 2020 |
Term (years) |  | $ | 2.5 to 7.0 |  |  | $ | 1.5 to 4.2 |
Stock price |  | $ | 2.04 to 3.50 |  |  | $ | 5.92 |
Exercise price |  | $ | 2.04 to 3.50 |  |  | $ | 0.23 to 2.71 |
Dividend yield |  |  | 0 | % |  |  | 0 | %
Expected volatility |  |  | 76% to 79 | % |  |  | 84.7 | %
Risk free interest rate |  |  | 1.1% to 1.6% | % |  |  | 0.37 | %
SCHEDULE OF WARRANTS | The following table summarizes information about shares issuable under warrants outstanding at December 31, 2021: SCHEDULE OF WARRANTS
|  | Warrant shares outstanding |  |  | Weighted average exercise price |  |  | Weighted average remaining life |  |  | Intrinsic value |
Outstanding at January 1, 2021 |  |  | 3,730,805 |  |  | $ | 2.05 |  |  |  | 5.2 |  |  | $ | 8,923,797 |
Granted |  |  | 4,146,146 |  |  | $ | 4.20 |  |  |  |  |  |  |  |  |
Assumed pursuant to acquisition of MagicMed |  |  | 5,913,672 |  |  | $ | 1.31 |  |  |  |  |  |  |  |  |
Exercised |  |  | (3,253,714 | ) |  | $ | 1.01 |  |  |  |  |  |  |  |  |
Exchanged for common stock |  |  | (768,143 | ) |  | $ | 4.65 |  |  |  |  |  |  |  |  |
Outstanding at December 31, 2021 |  |  | 9,768,766 |  |  | $ | 2.62 |  |  |  | 3.4 |  |  | $ | 801,024 |
The warrants assumed pursuant to the acquisition of MagicMed contain certain down round features, which were not triggered by the February 2022 public offering, that would require adjustment to the exercise price upon certain events when the offering price is less than the stated exercise price. All outstanding warrants are exercisable. Warrants exchanged for Common Stock consist of an aggregate of 221,653 shares of Common Stock being issued in exchange for an aggregate of 109,372 warrants issued by Ameri and containing put rights that were exercised by the Holder and an aggregate of 973,190 shares of Common Stock being issued in exchange for an aggregate of 658,771 warrants containing certain terms wherein management determined it to be beneficial to the Company to exchange Common Shares for these warrants. The aggregate of 221,653 Common Shares issued in exchange for the aggregate of 109,372 warrants issued by Ameri and containing put rights were issued in lieu of cash payments, in accordance with the terms of the put rights contained in the warrants. The aggregate of 973,190 shares of common stock issued in exchange for certain outstanding warrants to purchase an aggregate of 658,771 shares of the Company’s common stock at an exercise price of $4.66 were issued pursuant to exchange agreements with the holders of such warrants. The Company believes that these exchanges are beneficial to the Company because the reacquired warrants contained provisions that required the Company to repurchase the warrants for cash at the holder’s option and/or “full ratchet” anti-dilution adjustments that may result in a reduction in the exercise price of such warrants and an increase in the number of shares issuable upon exercise thereof under certain circumstances. The Company has cancelled all of the warrants reacquired in such exchanges and they will not be reissued. In connection with this exchange, the Company recognized $826,577 in inducement expense related to the increase in fair value of the new awards over the old awards, which is included in other expenses on the Company’s consolidated statement of operations and comprehensive loss. The following table summarizes information about shares issuable under warrants outstanding at December 31, 2020:
|  | Number of Shares |  |  | Weighted Average Exercise Price (USD) |  |  | Weighted Average Remaining Contractual Term (years) |  |  | Aggregate Intrinsic Value (USD) |
Outstanding – January 1, 2020 |  |  | 303,891 |  |  | $ | 1.99 |  |  |  | 1.06 |  |  |  | — |
Granted |  |  | 3,701,730 |  |  | $ | 0.94 |  |  |  |  |  |  |  |  |
Expired forfeited, or cancelled |  |  | (274,816 | ) |  | $ | 1.94 |  |  |  |  |  |  |  |  |
Outstanding – December 31, 2020 |  |  | 3,730,805 |  |  | $ | 2.05 |  |  |  | 5.2 |  |  | $ | 8,923,797 |
Exercisable at December 31, 2020 |  |  | 3,730,805 |  |  | $ | 2.05 |  |  |  | 5.2 |  |  | $ | 8,923,797 |
Restricted Stock [Member] |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
SCHEDULE OF RESTRICTED STOCK UNITS AND AWARDS ACTIVITY | The Company’s activity in restricted common stock was as follows for the year ended December 31, 2021 (there was no restricted common stock issued for the year ended December 31, 2020): SCHEDULE OF RESTRICTED STOCK UNITS AND AWARDS ACTIVITY
|  | Number of shares |  |  | Weighted average fair value |
Non–vested at January 1, 2021 |  |  | — |  |  | $ | — |
Granted |  |  | 125,733 |  |  | $ | 3.57 |
Vested |  |  | (74,224 | ) |  | $ | 4.09 |
Non–vested at December 31, 2021 |  |  | 51,509 |  |  | $ | 2.83 |
Restricted Stock Units (RSUs) [Member] |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
SCHEDULE OF RESTRICTED STOCK UNITS AND AWARDS ACTIVITY | The Company’s activity in restricted stock units was as follows for the year ended December 31, 2021 (there were no restricted stock units issued for the year ended December 31, 2020): SCHEDULE OF RESTRICTED STOCK UNITS AND AWARDS ACTIVITY
|  | Number of shares |  |  | Weighted average fair value |
Non–vested at January 1, 2021 |  |  | — |  |  | $ | — |
Granted |  |  | 6,258,377 |  |  | $ | 3.44 |
Forfeited |  |  | (371,944 | ) |  | $ | 3.04 |
Vested |  |  | (2,785,820 | ) |  | $ | 4.52 |
Non–vested at December 31, 2021 |  |  | 3,100,613 |  |  | $ | 2.52 |

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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775 + Details
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