STOCK-BASED COMPENSATION (Tables)
|
9 Months Ended |
12 Months Ended |
Sep. 30, 2023 |
Dec. 31, 2022 |
| Share-Based Payment Arrangement [Abstract] |
|
|
| SCHEDULE OF STOCK OPTION ACTIVITY |
The
following table summarizes the Company’s stock option activity during the nine months ended September 30, 2023:
SCHEDULE OF STOCK OPTION ACTIVITY
| | |
| | |
Weighted
average | | |
| |
| | |
Options | | |
Exercise
price | | |
Remaining
contractual life | | |
Intrinsic
value | |
| Outstanding at December 31, 2022 | |
| 26,334 | | |
$ | 707.63 | | |
| 6.53 | | |
$ | - | |
| Granted | |
| - | | |
| - | | |
| - | | |
| - | |
| Exercised | |
| - | | |
| - | | |
| - | | |
| - | |
| Expired / Forfeited | |
| (20 | ) | |
| 770.40 | | |
| - | | |
| - | |
| Outstanding at September 30, 2023 | |
| 26,314 | | |
$ | 707.59 | | |
| 4.74 | | |
| - | |
| Exercisable at September 30, 2023 | |
| 24,505 | | |
| 722.84 | | |
| - | | |
| - | |
| Vested and expected to vest | |
| 26,314 | | |
$ | 707.59 | | |
| 4.74 | | |
| - | |
|
The
following table summarizes the Company’s stock option activity during the year ended December 31, 2022:
SCHEDULE OF STOCK OPTION ACTIVITY
| | |
| | |
Weighted average | | |
| |
| | |
Options | | |
Exercise
price | | |
Remaining
contractual
life | | |
Intrinsic
value | |
| Outstanding at December 31, 2021 | |
| 18,505 | | |
$ | 576.70 | | |
| 6.00 | | |
$ | 10,207,306 | |
| Granted | |
| 9,535 | | |
| 928.11 | | |
| 8.34 | | |
| - | |
| Exercised | |
| - | | |
| - | | |
| - | | |
| - | |
| Expired / Forfeited | |
| (1,706 | ) | |
| 519.62 | | |
| - | | |
| - | |
| Outstanding at December 31, 2022 | |
| 26,334 | | |
| 707.63 | | |
| 6.53 | | |
| - | |
| Exercisable at December 31, 2022 | |
| 23,258 | | |
| 738.89 | | |
| 6.19 | | |
| - | |
| Vested and expected to vest | |
| 26,334 | | |
| 707.63 | | |
| 6.53 | | |
| - | |
|
| SCHEDULE OF SHARE-BASED PAYMENT AWARD, STOCK OPTIONS, VALUATION ASSUMPTIONS |
The
fair value of each stock option granted has been determined using the Black-Scholes option-pricing model. The material assumptions used
in the Black-Scholes model in estimating the fair value of the options granted for the periods presented were as follows (there were
no grants issued in 2023):
SCHEDULE OF SHARE-BASED PAYMENT AWARD, STOCK OPTIONS, VALUATION ASSUMPTIONS
| | |
Nine Months Ended
September 30, 2022 | |
| Exercise price | |
$ | 103.20 - 1,507.20 | |
| Expected stock price volatility | |
| 76.61 - 95.87 | % |
| Expected term (years) | |
| 5.19 - 10.00 | |
| Risk-free interest rate | |
| 1.52% - 3.14 | % |
| Expected dividend yield | |
| 0.00 | % |
|
The
fair value of each stock option granted has been determined using the Black-Scholes option-pricing model. The material assumptions used
in the Black-Scholes model in estimating the fair value of the options granted for the periods presented were as follows (there were
no grants issued in 2021):
SCHEDULE OF SHARE-BASED PAYMENT AWARD, STOCK OPTIONS, VALUATION ASSUMPTIONS
| | |
December 31, 2022 | |
| Exercise price | |
$ | 102.00-1,507.20 | |
| Expected stock price volatility | |
| 76.61% - 95.87 | % |
| Expected term (years) | |
| 5.19-10.00 | |
| Risk-free interest rate | |
| 1.52% - 3.14 | % |
| Expected dividend yield | |
| 0 | % |
|
| SCHEDULE OF RESTRICTED STOCK UNITS |
The
following table summarizes the Company’s restricted stock units activity during the nine months ended September 30, 2023:
SCHEDULE OF RESTRICTED STOCK UNITS
| | | |
Restricted Stock
Units | | |
Weighted average fair
value | |
| Outstanding at December 31, 2022 | | |
| 1,003 | | |
$ | 120.02 | |
| Released | | |
| (938 | ) | |
| 101.40 | |
| Cancelled | | |
| (2 | ) | |
| 386.40 | |
| Outstanding at September 30, 2023 | | |
| 63 | | |
$ | 388.80 | |
|
The
following table summarizes the Company’s restricted stock units activity during the year ended December 31, 2022:
SCHEDULE OF RESTRICTED STOCK UNITS
| | |
Restricted
Stock Units | | |
Weighted
average fair
value | |
| Outstanding at December 31, 2021 | |
| - | | |
$ | - | |
| Granted | |
| 5,320 | | |
| 215.22 | |
| Released | |
| (3,485 | ) | |
| 294.29 | |
| Cancelled | |
| (832 | ) | |
| - | |
| Outstanding at December 31, 2022 | |
| 1,003 | | |
$ | 120.02 | |
|
| SCHEDULE OF COMMON STOCK FUTURE ISSUANCE |
The
following shares of common stock are reserved for future issuance:
SCHEDULE OF COMMON STOCK FUTURE ISSUANCE
| | |
September 30, 2023 | |
| Awards outstanding under the 2021 Omnibus Incentive Plan | |
| 26,377 | |
| Awards available for future grant under 2021 Omnibus Incentive Plan | |
| 617,112 | |
| Warrants outstanding | |
| 4,929,996 | |
| Total shares of common stock reserved for future issuance | |
| 5,573,485 | |
|
The
following shares of common stock are reserved for future issuance:
SCHEDULE OF COMMON STOCK FUTURE ISSUANCE
| | |
December 31, 2022 | |
| Awards outstanding under the 2021 Omnibus Incentive Plan | |
| 27,337 | |
| Awards available for future grant under 2021 Omnibus Incentive Plan | |
| 4,569 | |
| 2022 Notes outstanding | |
| 162,232 | |
| Warrants outstanding | |
| 668,970 | |
| Total shares of common stock reserved for future issuance | |
| 863,108 | |
|