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STOCK OPTIONS (Tables) | 12 Months Ended
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Dec. 31, 2023
Share-Based Payment Arrangement [Abstract] |
SCHEDULE OF STOCK OPTION ACTIVITY | The following table presents the Company’s stock option activity for employees and directors of the Company for the year ended December 31, 2023 and 2022: SCHEDULE OF STOCK OPTION ACTIVITY
|  | Number of Options |  |  | Weighted Average Exercise Price |
Outstanding at January 1, 2022 |  |  | 27,518 |  |  |  | 23.69 |
Granted |  |  | 6,015 |  |  |  | 8.75 |
Exercised |  |  | - |  |  |  | - |
Forfeited |  |  | - |  |  |  | - |
Expired |  |  | - |  |  |  | - |
Outstanding at January 1, 2023 |  |  | 33,533 |  |  |  | 21.00 |
Granted |  |  | - |  |  |  | - |
Exercised |  |  | - |  |  |  | - |
Forfeited |  |  | (6,015 | ) |  |  | 8.75 |
Expired |  |  | - |  |  |  | - |
Outstanding at December 31, 2023 |  |  | 27,518 |  |  |  | 23.69 |
Number of options exercisable at December 31, 2023 |  |  | 27,518 |  |  |  | 23.69 |
SCHEDULE OF ESTIMATED FAIR VALUE OF OPTIONS GRANTED | The fair value of options granted during 2022 was estimated at the dates of grant using the Black-Scholes option pricing model. The following are the data and assumptions used: SCHEDULE OF ESTIMATED FAIR VALUE OF OPTIONS GRANTED
|  | 2022 |
Dividend yield |  |  | 0 |
Expected volatility (%) (*) |  |  | 55.37-64.89 | %
Risk-free interest rate (%) (**) |  |  | 3.46-3.48 | %
Expected term of options (years) (***) |  |  | 5.31-6.31 |
Exercise price (US dollars) |  |  | 7-10.5 |
Share price (US dollars) |  |  | 20.09 |
Fair value (US dollars) |  |  | 2.1-2.2 |
| (*) | Due to the low trading volume of the Company’s common stock and lack of historical information, the expected volatility was based on the historical volatility of the share price of other public companies that operate in the same industry sector as the Company (agricultural chemical industry).
| (**) | The risk-free interest rate represented the risk-free rate of $ zero – coupon US Government Loans.
| (***) | Due to the fact that the Company does not have sufficient historical exercise data, the expected term was determined based on the “simplified method”.

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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 -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + 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 -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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