STOCK OPTIONS (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

SCHEDULE OF STOCK OPTION ACTIVITIES

The following table summarizes the Company’s stock option activities for the years ended December 31, 2021 and 2020:

	Number of shares			Exercise price per share		Weighted average exercise price
Balance, December 31, 2019		635,000		$	0.75 – 1.75	$	1.35
Granted		172,000		$	2.44	$	2.44
Cancelled or expired		(13,000	)	$	2.44 – 3.46	$	2.75
Exercised		(45,000	)	$	0.75 – 1.05	$	0.88
Balance, December 31, 2020		749,000		$	0.75 – 4.13	$	2.42
Granted		170,000		$	3.61	$	3.61
Cancelled or expired		(34,799	)	$	1.42 – 3.46	$	2.30
Exercised		(94,701	)	$	0.75 – 3.46	$	1.58
Balance, December 31, 2021		789,500		$	1.42 – 4.13	$	2.78
Exercisable, December 31, 2021		564,500		$	1.42 – 4.13	$	2.63

SCHEDULE OF STOCK OPTION FAIR VALUE ASSUMPTIONS

The fair value of each option grant is calculated using the following weighted average assumptions:

	2021			2020
Expected life – years		3.0			3.0
Interest rate		1.23	%		0.37	%
Volatility		63.28	%		70.14	%
Weighted average fair value of options granted	$	1.23		$	1.12