Quarterly report pursuant to Section 13 or 15(d)

STOCKHOLDERS??? EQUITY (Tables)

v3.22.2.2
STOCKHOLDERS’ EQUITY (Tables)
6 Months Ended
Jun. 30, 2022
Equity [Abstract]  
SCHEDULE OF OUTSTANDING WARRANTS

At June 30, 2022, the outstanding warrants consisted of the following:

 

Date Issued   Number of Warrants     Exercise Price     Expiration Date
April 1, 2020     2,462,600     $ 0.125     April 1, 2030
April 1, 2020     462,600     $ 0.500     April 1, 2030
March 30, 2020     350,000     $ 1.250     March 30, 2025
August 17, 2020     134,000     $ 1.250     August 17, 2025
March 15, 2022     250,000     $ 0.500     March 15, 2027
March 21, 2022     250,000     $ 0.500     March 21, 2027
March 22, 2022     250,000     $ 0.500     March 22, 2027
March 24, 2022     600,000     $ 0.500     March 24, 2027
      4,759,200              
SUMMARY OF WARRANTS ACTIVITY

A summary of the warrant activity during the six months ended June 30, 2022 is presented below:

   

Number of

Warrants

   

Weighted

Average

Exercise Price

   

Weighted

Average

Remaining

Contractual

Term (years)

 
Outstanding at January 1, 2022     3,409,200     $ 0.34       7.6  
Granted     1,350,000     $ 0.50       5.0  
Outstanding at June 30, 2022     4,759,200     $ 0.38       6.4  
                         
Exercisable at June 30, 2022     4,759,200     $ 0.38       6.4  
SUMMARY OF CHANGES IN FAIR VALUE WARRANTS

 

Stock price per share     $ 0.370.40  
Term     5.0 years  
Expected volatility     90.00 %
Divided yield      
Risk-free interest rate     2.10% – 2.39 %
SCHEDULE OF SHARE BASED AWARDS

The following table summarizes the share-based awards as of June 30, 2022:

 

   

Number of

Options

   

Weighted

Average

Exercise Price

    Weighted
Average
Remaining
Contractual
Term (years)
 
Outstanding at June 30, 2022     450,000     $ 1.38       4.1  
                         
Exercisable at June 30, 2022     250,000     $ 1.72       4.1