Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

EQUITY (Tables)

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EQUITY (Tables)
 12 Months Ended
Dec. 31, 2022
Stockholders’ Equity  
SCHEDULE OF STOCK OPTIONS USING THE BLACK-SCHOLES OPTION PRICING MODEL AND USED THE ASSUMPTIONS

The Company values stock options using the Black-Scholes option pricing model and used the following assumptions during the reporting periods:

 SCHEDULE OF STOCK OPTIONS USING THE BLACK-SCHOLES OPTION PRICING MODEL AND USED THE ASSUMPTIONS

    2022     2021  
    Years Ended
December 31,		  
    2022     2021  
Risk-free interest rate     4.41 %     0.73 %
Contractual term (years)     1-3       1-3  
Expected volatility     177.30 %     66.00 %
Expected dividends     0.00 %     0.00 %
SUMMARY OF OPTION ACTIVITY

A summary of the option activity during the year ended December 31, 2022 was as follows:

 

 SUMMARY OF OPTION ACTIVITY

    No of Options     Weighted Average Share Price     Weighted Average Remaining Life     Aggregate Intrinsic Value  
Outstanding as of January 1, 2022     539,760     $ 4.74       1     $ 0  
Granted     560,188       4.22       3       0  
Exercised     (73,428 )     5.81       -       0
Outstanding as of December 31, 2022     1,026,520     $ 4.38       2     $  0  
SCHEDULE OF INFORMATION RELATED TO OPTIONS OUTSTANDING

SCHEDULE OF INFORMATION RELATED TO OPTIONS OUTSTANDING

    Options Outstanding           Options Exercisable  
Year   Exercise Price     Outstanding Number of Options     Underlying Common Stock     Weighted Average Remaining Life in Years     Exercisable Number of Warrants  
                                         
2019 Share Option   $ 3.56     257,478       GNS       1     $ 257,478  
2020 Share Option     5.81       74,640       GNS       1       74,640  
2021 Share Options     5.81       134,214       GNS       3       134,214  
2022 Employee Grants (Options)     4.22       560,188       GNS       3       0  
    $ 4.38     1,026,520               2     $ 466,332