STOCK OPTIONS (Tables)

12 Months Ended

Dec. 31, 2023

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, 2023 and 2022:

	Number of shares			Exercise price per share		Weighted average exercise price
Balance, December 31, 2021		789,500		$	1.42 – 4.13	$	2.78
Granted		981,000		$	3.55 – 3.61	$	3.55
Cancelled or expired		(13,486	)	$	1.70 – 3.61	$	2.32
Exercised		(71,014	)	$	1.42 – 2.44	$	1.98
Balance, December 31, 2022		1,686,000		$	1.70 – 4.13	$	3.26
Cancelled or expired		(564,000	)	$	3.46 – 4.13	$	3.55
Exercised		(8,000	)	$	1.70	$	1.70
Balance, December 31, 2023		1,114,000		$	1.75 – 3.61	$	3.13
Exercisable, December 31, 2023		754,000		$	1.75 – 3.61	$	2.93

SCHEDULE OF STOCK OPTION FAIR VALUE ASSUMPTIONS

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

	2022
Expected life – years		3.0
Interest rate		1.76 – 3.64	%
Volatility		66.01 - 69.66	%
Weighted average fair value of options granted	$	1.46 – 1.65