v3.23.2
STOCK OPTION PLAN AND STOCK-BASED COMPENSATION (Tables)
 6 Months Ended 12 Months Ended
Jun. 30, 2023
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]    
SCHEDULE OF FAIR MARKET VALUE

 

  

Number of

Shares

   Fair Value per Share   Weighted Average Market Value per Share 
Shares Issued as at January 1, 2022   4,505,709   $ 0.001 – 0.55   $0.10 
Shares Issued   —    —    — 
Shares Issued as of June 30, 2022   4,505,709   $0.001 – 0.55   $0.13 
                
Shares Issued as at January 1, 2023   5,139,709   $0.001 – 0.55   $0.088 
Shares Issued   114,000    0.415 – 0.48    0.462 
Shares Issued as of June 30, 2023   5,263,709   $0.001 – 0.55   $0.096 

 

 

  

Number of

Shares

  

Fair Value

per Share

  

Weighted Average

Market Value per

Share

 
Shares Issued as of January 1, 2021   11,002,000   $0.003 – 1.49   $0.099 
Shares Issued   7,704,909    0.001 – 0.55    0.072 
Shares Issued as of December 31, 2021   18,706,909   $0.001 – 1.49   $0.088 
Shares Issued   716,000    0.162 – 0.48    0.250 
Shares Issued as of December 31, 2022   19,422,909   $0.001 – 1.49   $0.094 
SCHEDULE OF STOCK OPTIONS VALUATION ASSUMPTIONS  

The fair value of stock options granted and revaluation of non-employee consultant options for the year ended December 31, 2022 and 2021 was calculated with the following assumptions:

 

 

   2022   2021 
Risk-free interest rate   1.02 – 4.66%   0.16 - 1.00%
Expected dividend yield   0%   0%
Volatility factor (monthly)   155.52%   175.34%
Expected life of option   3 years    3 years 
SCHEDULE OF STOCK OPTIONS ACTIVITY

 

   Number of Options   Exercise Price per Share   Weighted Average Exercise Price per Share 
Outstanding as of January 1, 2022   668,000   $ 0.001 – 1.21   $0.55 
Granted   —    —    — 
Exercised   —    —    — 
Options forfeited/cancelled   (48,000)   1.09 – 1.21    1.20 
Outstanding as of June 30, 2022   620,000   $0.001 – 1.21   $0.50 
                
Outstanding as of January 1, 2023   524,000   $0.001 – 0.95   $0.44 
Granted   —    —    — 
Exercised   —    —    — 
Options forfeited/cancelled   (96,000)   0.001 – 0.20    0.01 
Outstanding as of June 30, 2023   428,000   $0.001 – 0.95   $0.52 

 

 

  

Number of

Options

  

Exercise Price

per Share

  

Weighted Average

Exercise Price per

Share

 
Outstanding as of January 1, 2021   533,000   $0.001 - 1.21   $0.71 
Granted   135,000    0.001 - 0.20    0.20 
Exercised   —    —    — 
Options forfeited/cancelled   —    —    — 
Outstanding as of December 31, 2021   668,000   $0.001 - 1.21   $0.55 
Granted   —    —    — 
Exercised   —    —    — 
Options forfeited/cancelled   (144,000)   0.31 – 1.21    0.81 
Outstanding as of December 31, 2022   524,000   $0.001 – 0.95   $0.44 

 
SCHEDULE OF STOCK OPTION VESTED

The following table summarizes information about stock options that are vested or expected to vest at June 30, 2023:

 

 

            Options Outstanding                 Exercisable Options        
Exercise Price     Number of Options     Weighted Average Exercise Price Per Share     Weighted Average Remaining Contractual Life (Years)     Aggregate Intrinsic Value     Number of Options     Weighted Average Exercise Price Per Share     Weighted Average Remaining Contractual Life (Years)     Aggregate Intrinsic Value  
$ 0.001       45,000     $ 0.001       1.08     $ 8,505       45,000     $ 0.001       1.08     $ 8,505  
  0.05       3,000       0.05       0.25       420       3,000       0.05       0.25       420  
  0.15       45,000       0.15       0.08       1,800       45,000       0.15       0.08       1,800  
  0.18       45,000       0.18       0.33       450       45,000       0.18       0.33       450  
  0.19       45,000       0.19       0.83       —       45,000       0.19       0.83       —  
  0.20       45,000       0.20       0.59       —       45,000       0.20       0.59       —  
  0.95       200,000       0.95       0.76       —       200,000       0.95       0.76       —  
$ 0.001–0.95       428,000     $ 0.52       0.66     $ 11,175       428,000     $ 0.52       0.66     $ 11,175  

The following table summarizes information about stock options that are vested or expected to vest at December 31, 2022:

 

 

        Options Outstanding           Exercisable Options     
Exercise Price   Number of Options   Weighted Average Exercise Price Per Share   Weighted Average Remaining Contractual Life (Years)   Aggregate Intrinsic Value   Number of Options   Weighted Average Exercise Price Per Share   Weighted Average Remaining Contractual Life (Years)   Aggregate Intrinsic Value 
$0.001    90,000   $0.001    0.95   $43,110    90,000   $0.001    0.95   $43,110 
 0.05    3,000    0.05    0.75    1,292    3,000    0.05    0.75    1,292 
 0.15    90,000    0.15    0.33    29,340    90,000    0.15    0.33    29,340 
 0.18    45,000    0.18    0.83    13,680    45,000    0.18    0.83    13,680 
 0.19    45,000    0.19    1.33    13,185    45,000    0.19    1.33    13,185 
 0.20    48,000    0.20    1.04    13,446    48,000    0.20    1.04    13,446 
 0.32    3,000    0.32    0.25    467    3,000    0.32    0.25    467 
 0.95    200,000    0.95    1.26    —    200,000    0.95    1.26    — 
$0.001-0.95    524,000   $0.44    0.99   $114,519    524,000   $0.44    0.99   $114,519