Annual report pursuant to Section 13 and 15(d)

STOCKHOLDERS??? EQUITY (Tables)

v3.22.0.1
STOCKHOLDERS’ EQUITY (Tables)
12 Months Ended
Dec. 31, 2021
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,  
    2021     2020     2020  
                   
Risk free interest rate     0.09%-1.539 %     0.33%-1.44 %     1.52%-1.71 %
Expected term (years)     1.00-8.00       5.00-8.00       5.00-6.00  
Expected volatility     115.3%-140.7 %     121.8%-139.9 %     131.10%-138.40 %
Expected dividends     0.00 %     0.00 %     0.00 %

SUMMARY OF OPTIONS ACTIVITY

A summary of the option activity during the year ended December 31, 2021 is presented below:

 

                Weighted        
          Weighted     Average        
          Average     Remaining     Aggregate  
    Number of     Exercise     Life     Intrinsic  
    Shares     Price     In Years     Value  
Outstanding, December 31, 2020     572,838     $ 4.38                  
                                 
Granted      616,312       38.15                  
Exercised     (183,594 )     4.08                  
Cancelled/forfeited/expired     (22,051 )     1.38                  
Outstanding, December 31, 2021     983,505     $ 25.25       4.6     $ 9,416,509  
                                 
Exercisable, December 31, 2021     171,531     $ 5.59       3.6     $ 3,720,132  

SCHEDULE OF STOCK OPTIONS

The following table presents information related to stock options at December 31, 2021:

      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       2.24       351,653       3.4       155,191  
$ 25.59-$38.45       37.47       591,320       0.2       15,640  
$ 40.82-$59.22       46.50       40,532       0.0       700  
                  983,505       3.6       171,531  
SCHEDULE OF WARRANT ACTIVITY

The following table accounts for the Company’s warrant activity for the year ended December 31, 2021:

 

                Weighted        
          Weighted     Average        
          Average     Remaining     Aggregate  
    Number of     Exercise     Life     Intrinsic  
    Shares     Price     In Years     Value  
Outstanding, January 1, 2021     3,893,223     $ 4.93                  
Issued     -       -                  
Exercised     (622,661 )     4.25                  
Cancelled/forfeited/expired     -       -                  
Outstanding, December 31, 2021     3,270,562     $ 5.06       1.1     $ 77,877,434  
                                 
Exercisable, December 31, 2021     3,270,562     $ 5.06       1.1     $ 77,877,434  
SCHEDULE OF STOCK WARRANTS

The following table presents information related to stock warrants at December 31, 2021:

 

    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-$35.00   $ 4.79       3,253,903       1.1       3,253,903  
$ 50.00-$150.00   $ 57.99       16,659       0.0       16,659  
                3,270,562       1.1       3,270,562