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COMMON STOCK PURCHASE WARRANTS (Tables)
3 Months Ended
Mar. 31, 2023
Common Stock Purchase Warrants  
SCHEDULE OF WARRANT MODIFICATION

   Original terms at August 19, 2021   Modified terms at August 19, 2021 
Volatility - range   109.3%   104.7%
Risk-free rate   0.78%   0.78%
Dividend   0%   0%
Remaining contractual term   4.5 years    5.1 years 
Exercise price  $65.00   $65.00 
Common stock issuable under the warrants   715,000    715,000 

 

   Terms at
August 23, 2022
 
Volatility - range   103.7%
Risk-free rate   3.17 - 3.36%
Dividend   0%
Remaining contractual term   3.4 - 4.1 years 
Exercise price  $65.00 
Common stock issuable under the warrants   1,215,000 
 
SUMMARY OF WARRANT ACTIVITY

The following table summarizes information about shares issuable under warrants outstanding during the three months ended March 31, 2023:

 

   Warrants  

Weighted

average

exercise price

 
Vested Balance, January 1, 2023   67,459   $60.26 
Granted        
Exercised        
Forfeited/cancelled   (28,333)   (67.20)
Vested Balance, March 31, 2023   39,126   $55.24 
SUMMARY OF RANGE OF EXERCISE PRICES AND WEIGHTED AVERAGE REMAINING CONTRACTUAL LIFE OF WARRANTS

The following table summarizes the range of exercise prices and weighted average remaining contractual life for outstanding and exercisable warrants to purchase shares of common stock as of March 31, 2023:

 

    Outstanding and exercisable warrants
Exercise price   Number of warrants  

Weighted average

remaining contractual life

$52.00    23,286   0.3 years
$60.00    15,840   0.1 years
           
      39,126   0.2 years