Stockholders’ Equity (Tables)
|
9 Months Ended |
12 Months Ended |
Sep. 30, 2023 |
Dec. 31, 2022 |
| Stockholders’ Equity [Abstract] |
|
|
| Schedule of Analysis of the Stock Option Grant Activity under the Plan |
The following is an analysis of the stock option
grant activity under the Plan:
| Vested and Nonvested Stock Options | |
Number | | |
Weighted
Average
Exercise
Price | | |
Weighted
Average
Remaining
Life | |
| Outstanding December 31, 2022 | |
| 1,127 | | |
$ | 6,802.93 | | |
| 5.74 | |
| Granted | |
| - | | |
| - | | |
| - | |
| Exercised | |
| - | | |
| - | | |
| - | |
| Expired or forfeited | |
| - | | |
| - | | |
| - | |
| Outstanding September 30, 2023 | |
| 1,127 | | |
$ | 6,802.93 | | |
| 5.00 | |
A summary of warrant issuances are as follows:
| Vested and Nonvested Warrants | |
Number | | |
Weighted
Average
Exercise
Price | | |
Weighted
Average
Remaining
Life | |
| Outstanding December 31, 2022 | |
| 127,281 | | |
$ | 514.97 | | |
| 4.54 | |
| Granted | |
| 2,190,367 | | |
| 6.36 | | |
| 5.20 | |
| Exercised | |
| (184,374 | ) | |
| 1.35 | | |
| - | |
| Expired or forfeited | |
| (392 | ) | |
| 8,250.00 | | |
| - | |
| Outstanding September 30, 2023 | |
| 2,132,882 | | |
$ | 35.22 | | |
| 5.10 | |
|
The following is an analysis of the stock option
grant activity under the Plan:
| Vested and Nonvested Stock Options | |
Number | | |
Weighted
Average
Exercise
Price | | |
Weighted
Average
Remaining
Life | |
| Outstanding December 31, 2021 | |
| 1,127 | | |
$ | 6,802.93 | | |
| 6.74 | |
| Granted | |
| - | | |
| - | | |
| - | |
| Exercised | |
| - | | |
| - | | |
| - | |
| Expired or forfeited | |
| - | | |
| - | | |
| - | |
| Outstanding December 31, 2022 | |
| 1,127 | | |
$ | 6,802.93 | | |
| 5.74 | |
A summary of warrant issuances are as follows:
| Vested and Nonvested Warrants | |
Number | | |
Weighted
Average
Exercise
Price | | |
Weighted
Average
Remaining
Life | |
| Outstanding December 31, 2021 | |
| 15,035 | | |
$ | 3,340.00 | | |
| 4.38 | |
| Granted | |
| 162,439 | | |
| 188.40 | | |
| 4.66 | |
| Exercised | |
| (48,661 | ) | |
| 27.60 | | |
| - | |
| Expired or forfeited | |
| (1,563 | ) | |
| 1,824.80 | | |
| - | |
| Rounding for Reverse Split | |
| 31 | | |
| - | | |
| - | |
| Outstanding December 31, 2022 | |
| 127,281 | | |
$ | 514.97 | | |
| 4.54 | |
| Nonvested RSUs | |
Number | | |
Weighted
Average
Price | |
| Nonvested December 31, 2021 | |
| 390 | | |
$ | 3,840.00 | |
| Granted | |
| 292 | | |
| 909.60 | |
| Vested | |
| (463 | ) | |
| 2,826.00 | |
| Forfeited | |
| (38 | ) | |
| 3,100.00 | |
| Rounding for Reverse Split | |
| 6 | | |
| - | |
| Nonvested December 31, 2022 | |
| 187 | | |
$ | 1,856.21 | |
|
| Schedule of Warranty Issuance |
| Nonvested Stock Options | |
Number | | |
Weighted-
Average
Exercise
Price | |
| Nonvested on December 31, 2022 | |
| 55 | | |
$ | 3,840 | |
| Granted | |
| - | | |
| - | |
| Vested | |
| (55 | ) | |
| 3,840 | |
| Forfeited | |
| - | | |
| - | |
| Nonvested on September 30, 2023 | |
| - | | |
$ | - | |
| Nonvested Warrants | |
Number | | |
Weighted-
Average
Exercise
Price | |
| Nonvested on December 31, 2022 | |
| 2,500 | | |
$ | 300.00 | |
| Granted | |
| 2,190,367 | | |
| 6.36 | |
| Vested | |
| (2,192,867 | ) | |
| 6.70 | |
| Forfeited | |
| - | | |
| - | |
| Nonvested on September 30, 2023 | |
| - | | |
$ | - | |
A summary of Restricted Stock Units (“RSUs”)
issuances are as follows:
| Nonvested RSUs | |
Number | | |
Weighted
Average
Price | |
| Nonvested December 31, 2022 | |
| 187 | | |
$ | 1,856.21 | |
| Granted | |
| - | | |
| - | |
| Vested | |
| (170 | ) | |
| 2,714.15 | |
| Forfeited | |
| (35 | ) | |
| 1,345.77 | |
| Rounding for Reverse Split | |
| 18 | | |
| - | |
| Nonvested September 30, 2023 | |
| - | | |
$ | - | |
|
| Nonvested Stock Options | |
Number | | |
Weighted-
Average
Exercise
Price | |
| Nonvested on December 31, 2021 | |
| 227 | | |
$ | 4,340.00 | |
| Granted | |
| - | | |
| - | |
| Vested | |
| (172 | ) | |
| 4,496.40 | |
| Forfeited | |
| - | | |
| - | |
| Nonvested on December 31, 2022 | |
| 55 | | |
$ | 3,840 | |
| Nonvested Warrants | |
Number | | |
Weighted-
Average
Exercise
Price | |
| Nonvested on December 31, 2021 | |
| 2,315 | | |
$ | 3,020.00 | |
| Granted | |
| 162,439 | | |
| 188.40 | |
| Vested | |
| (160,879 | ) | |
| 222.00 | |
| Forfeited | |
| (1,375 | ) | |
| 800.00 | |
| Nonvested on December 31, 2022 | |
| 2,500 | | |
$ | 300.00 | |
|
| Schedule of Fair Value Warrant Granted |
For the
nine months ended September 30, 2023, the fair value of each warrant granted was estimated using the assumption and/or factors in the
Black-Scholes Model as follows:
| Exercise price |
|
$ |
10.00-12.50 |
|
| Expected dividend yield |
|
|
0 |
% |
| Risk free interest rate |
|
|
4.44 |
% |
| Expected life in years |
|
|
5.50 |
|
| Expected volatility |
|
|
171 |
% |
|
For the year ended December 31, 2022, the fair
value of each warrant granted was estimated using the assumption and/or factors in the Black-Scholes Model as follows:
| Exercise price | |
$ | 300.00-800.00 | |
| Expected dividend yield | |
| 0 | % |
| Risk free interest rate | |
| 2.55%-3.47% | |
| Expected life in years | |
| 5.00-5.50 | |
| Expected volatility | |
| 147%-165% | |
For the year ended December 31, 2021, the fair
value of each warrant issued was estimated using the assumption ranges and/or factors in the Black-Scholes Model as follows:
| Exercise price | |
$ | 8,000.00 | |
| Expected dividend yield | |
| 0 | % |
| Risk free interest rate | |
| 0.17%-0.42% | |
| Expected life in years | |
| 3.00-5.00 | |
| Expected volatility | |
| 154%-159% | |
|