XML 53 R42.htm IDEA: XBRL DOCUMENT v3.22.1
STOCKHOLDERS’ EQUITY (DEFICIT) (Tables)
12 Months Ended
Dec. 31, 2021
Equity [Abstract]  
SCHEDULE OF COMMON STOCK WARRANTS

The following schedule summarizes the changes in the Company’s common stock warrants:

SCHEDULE OF COMMON STOCK WARRANTS

       Weighted       Weighted 
   Warrants Outstanding   Average       Average 
   Number   Exercise   Remaining   Aggregate   Exercise 
   Of   Price   Contractual   Intrinsic   Price 
   Shares   Per Share   Life   Value   Per Share 
                     
Balance at December 31, 2019   166,159   $0.008     4.87 years   $-   $0.008 
                          
Warrants granted   -   $-    -        $ 
Warrants exercised   -   $-    -        $ 
Warrants expired/cancelled   -   $-    -        $ 
                          
Balance at December 31, 2020   166,159   $0.008     3.87 years   $2,125,506   $0.008 
                          
Warrants granted   380,323   $0.008-16.00    -        $ 
Warrants exercised/exchanged   (56,400)  $-    -        $ 
Warrants expired/cancelled   (52,391)  $-    -        $ 
                          
Balance at December 31, 2021   437,691   $0.008-16.00     2.69 years   $1,185,798   $5.36 
                          
Exercisable at December 31, 2021   369,189   $0.008-16.00     2.79 years   $830,785   $6.40 
SCHEDULE OF EACH OPTION WARRANT ESTIMATED USING THE BLACK-SCHOLES VALUATION MODEL

Changes to these inputs could produce a significantly higher or lower fair value measurement. The fair value of each option/warrant is estimated using the Black-Scholes valuation model. The following assumptions were used for the years ended December 31, 2021 and 2020:

 

  

Year Ended
December 31, 2021

  

Year Ended

December 31,
2020

 
Expected term   3 years      - 
Expected volatility   164-269%   - 
Expected dividend yield   -    - 
Risk-free interest rate   2.00%   - 
SUMMARY OF STOCK OPTION

The following represents a summary of options:

SUMMARY OF STOCK OPTION

  

Year Ended

December 31, 2021

  

Year Ended

December 31, 2020

 
   Number   Weighted
Average
Exercise Price
   Number   Weighted
Average
Exercise Price
 
Beginning balance   491,250   $0.0416    -   $- 
                     
Granted   -    -    491,250    0.0416 
Exercised   -    -    -    - 
Forfeited   -    -    -    - 
Expired   -    -    -    - 
Ending balance   491,250   $0.0416    491,250   $0.0416 
Intrinsic value of options  $2,533,975        $6,267,475      
                     
Weighted Average Remaining Contractual Life (Years)   8.81         9.81