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Stockholders’ Equity (Tables)
6 Months Ended
Jun. 30, 2024
Equity [Abstract]  
Schedule of Equity Compensation Plan Information

Equity Compensation Plan Information as of June 30, 2024:

 

  

Number of securities

to be issued upon exercise of outstanding options, warrants and

rights (a)

  

Weighted – average exercise price of outstanding options,

warrants and rights (b)

  

Number of securities remaining available for future issuances under equity

compensation plans (excluding securities reflected in column (a) (c)

 
Equity Compensation Plans Approved by Security Holders   3,150,000   $0.0399    21,680,882 
Equity Compensation Plans Not Approved by Security Holders   64,164,637    0.0293     
Total   67,314,637   $0.0298    21,680,882 
Schedule of Valuation Assumptions of Options

The Company uses the Black-Scholes option-pricing model to estimate the fair value of its stock option awards and warrant issuances. The calculation of the fair value of the awards using the Black-Scholes option-pricing model is affected by the Company’s stock price on the date of grant as well as assumptions regarding the following:

 

   Six Months ended June 30, 
   2024   2023 
Expected volatility   172.0% - 346.4 %    172.0346.4 % 
Expected term   1.55.0 Years    1.55.0 Years 
Risk-free interest rate   0.16% - 4.64 %    0.16% - 4.64 % 
Forfeiture rate   0.17%   0.17%
Schedule of Outstanding Stock Option Activity

A summary of the status of the Company’s outstanding stock options as of June 30, 2024 and December 31, 2023 and changes during the periods ending on such dates is as follows: 

 

   Number of  

Weighted

Average

Exercise

  

Weighted

Average

Remaining

Contractual

  

Aggregate

Intrinsic

 
   Options   Price   Life in Years   Value 
Outstanding at December 31, 2022   238,439,167   $0.0362    1.43      
Granted   -    -           
Forfeited   (170,999,530)   0.0379           
Exercised   -    -           
Cancelled   -     -           
Outstanding – December 31, 2023   67,439,637   $0.0360    1.43      
Exercisable – December 31, 2023   41,057,753   $0.0211    0.81   $- 
                     
Granted   -    -           
Forfeited   125,000    0.0440           
Exercised   -    -           
Cancelled   -    -           
Outstanding – June 30, 2024   67,314,637   $0.0298    1.26      
Exercisable – June 30, 2024   42,198,387   $0.0216    0.37   $- 
Summary of Exercise Price of Employee Stock Options Outstanding

The following table summarizes information about employee stock options outstanding at June 30, 2024. 

 

Range of Exercise Price 

Number

outstanding

at June 30, 2024

  

Weighted

average

remaining

Life

  

Weighted

average

exercise

price

  

Number

exercisable

at June 30,2024

  

Weighted

average

exercise

price

  

Weighted

average

remaining

life

 
$ 0.0180 - $0.0225   35,295,237    0.08   $0.0180    35,295,237   $0.0180    0.08 
$ 0.0229 - $0.0325   1,050,000    1.89   $0.0324    1,043,750   $0.0324    1.89 
$ 0.0360 - $0.0425   23,009,400    2.04   $0.0398    5,009,400   $0.0393    1.86 
$ 0.0440 - $0.0531   7,960,000    2.11   $0.0531    850,000   $0.0529    1.53 
Outstanding options   67,314,637    1.02    0.0298    42,198,387    0.02176    0.37 
Schedule of Warrants Activity

A summary of the Company’s warrants as of December 31, 2023 and changes during the six months ended June 30, 2024 is presented below:

 

   Number of  

Weighted

Average

Exercise

  

Weighted

Average

Remaining

Contractual

  

Aggregate

Intrinsic

 
   Warrants   Price   Life in Years   Value 
Outstanding – December 31, 2023   25,684,521   $0.0247    0.93   $24,000 
Granted   -                
Exercised   -                
Forfeited or Expired   -                
Outstanding – June 30, 2024   25,684,521   $0.0247    0.43      
Exercisable – June 30, 2024   25,684,521   $0.0247    0.43   $-