EQUITY (Tables)
|
6 Months Ended |
12 Months Ended |
Jun. 30, 2023 |
Dec. 31, 2022 |
| Notes and other explanatory information [abstract] |
|
|
| 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
| |
|
June 30, 2023 |
|
|
June 30, 2022 |
|
| |
|
For the period ended |
|
| |
|
June 30, 2023 |
|
|
June 30, 2022 |
|
| Risk-free interest rate |
|
|
4.88 |
% |
|
|
4.41 |
% |
| Contractual term (years) |
|
|
2-4 |
|
|
|
1-3 |
|
| Expected volatility |
|
|
177.30 |
% |
|
|
66.00 |
% |
| Expected dividends |
|
|
0.00 |
% |
|
|
0.00 |
% |
|
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 period ended June 30, 2023 was as follows:
SUMMARY OF OPTION ACTIVITY
| |
|
No of Options |
|
|
Weighted Average Share Price |
|
|
Weighted
Average
Remaining
Life
|
|
|
Aggregate
Intrinsic
Value
|
|
| Outstanding as of December 31, 2022 |
|
|
1,026,520 |
|
|
$ |
4.38
|
|
|
|
2 |
|
|
$ |
0 |
|
| Granted |
|
|
842,127 |
|
|
|
0.83 |
|
|
|
4 |
|
|
|
0 |
|
| Exercised / Cancelled |
|
|
(200,000 |
) |
|
|
2.21 |
|
|
|
- |
|
|
|
0 |
|
| Outstanding as of June 30, 2023 |
|
|
1,668,647 |
|
|
$ |
2.85 |
|
|
|
3
|
|
|
$ |
0 |
|
|
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 |
|
|
|
360,188 |
|
|
GNS |
|
|
3 |
|
|
|
0 |
|
| 2023 Employee Grants (Options) |
|
|
0.83 |
|
|
|
842,127 |
|
|
GNS |
|
|
3
|
|
|
|
0 |
|
| |
|
$ |
2.85 |
|
|
|
1,668,647 |
|
|
|
|
|
2 |
|
|
$ |
466,332 |
|
|
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 |
|
|