Annual report pursuant to Section 13 and 15(d)

STOCKHOLDERS??? EQUITY (Tables)

v3.22.4
STOCKHOLDERS’ EQUITY (Tables)
12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
SUMMARY OF BLACK-SCHOLES OPTION PRICING MODEL TO STOCK OPTIONS GRANTED ASSUMPTION

In applying the Black-Scholes option pricing model to options granted, the Company used the following assumptions:

  

    For the Years Ended  
    December 31,  
    2022     2021     2020  
                   
Risk free interest rate     2.47%-3.25 %     0.09%-1.539 %     0.33%-1.44 %
Expected term (years)     1.00-8.00       1.00-8.00       5.00-8.00  
Expected volatility     115%-133.4 %     115.3%-140.7 %     121.8%-139.9 %
Expected dividends     0.00 %     0.00 %     0.00 %
SUMMARY OF OPTIONS ACTIVITY

A summary of the option activity during the year ended December 31, 2022 is presented below:

  

                Weighted        
          Weighted     Average        
          Average     Remaining     Aggregate  
    Number of     Exercise     Life     Intrinsic  
    Shares     Price     In Years     Value  
Outstanding, January 1, 2022     983,505     $ 25.25                  
Granted     84,052       16.35                  
Exercised     (6,032 )     1.73                  
Cancelled/forfeited/expired     (990 )     15.70                  
Outstanding, December 31, 2022     1,060,535     $ 24.68            3.5     $ 3,015,160  
                                 
Exercisable, December 31, 2022     778,065     $ 27.14       2.8     $ 2,015,805  
SCHEDULE OF STOCK OPTIONS

The following table presents information related to stock options at December 31, 2022:

 

      Options Outstanding     Options Exercisable  
      Weighted           Weighted        
Range of     Average     Outstanding     Average     Exercisable  
Exercise     Exercise     Number of     Remaining Life     Number of  
Price     Price     Options     In Years     Options  
$ 1.73-$9.14       2.25       345,621       1.0       233,644  
$ 15.70-$38.45       34.87       674,382       1.7       524,889  
$ 40.82-$59.22       46.50       40,532       0.1       19,532  
                  1,060,535       2.8       778,065  
SCHEDULE OF WARRANT ACTIVITY

The following table accounts for the Company’s warrant activity for the year ended December 31, 2022:

  

                Weighted        
          Weighted     Average        
          Average     Remaining     Aggregate  
    Number of     Exercise     Life     Intrinsic  
    Shares     Price     In Years     Value  
Outstanding, January 1, 2022     3,270,562     $ 5.06              
Issued     -       -                  
Exercised     (82,936 )     13.64              
Cancelled/forfeited/expired     (1,599,661 )     5.41                  
Outstanding, December 31, 2022     1,587,965     $ 4.25        0.2     $

10,671,125

 
                                 
Exercisable, December 31, 2022     1,587,965     $ 4.25       0.2     $ 10,671,125  
SCHEDULE OF STOCK WARRANTS

The following table presents information related to stock warrants at December 31, 2022:

  

      Warrants Outstanding     Warrants Exercisable  
      Weighted           Weighted        
Range of     Average     Outstanding     Average     Exercisable  
Exercise     Exercise     Number of     Remaining Life     Number of  
Price     Price     Warrants     In Years     Warrants  
$ 4.25     $ 4.25       1,587,965       0.2       1,587,965  
                  1,587,965       0.2       1,587,965