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Stockholders’ Equity (Tables)
3 Months Ended
Mar. 31, 2024
Stockholders’ Equity [Line Items]  
Schedule of Restricted Stock Activity A summary of restricted stock activity during the period January 1, 2023 to March 31, 2024 is as follows:
   Total
restricted
shares*
   Weighted
average
fair market
value per
share*
   Total
unvested
restricted
shares*
   Weighted
average
fair market
value per
share*
   Total vested
restricted
shares*
   Weighted
average
fair market
value per share*
 
Outstanding January 1, 2023   783,167   $1.50    170,792   $1.47    612,375   $1.50 
Granted and issued   
-
    
-
    
-
    
-
    
-
    
-
 
Forfeited/Cancelled   
-
    
-
    
-
    
-
    
-
    
-
 
Vested   
-
    
-
    (170,792)   (1.47)   170,792    1.47 
Outstanding December 31, 2023   783,167   $1.50    
-
   $
-
    783,167   $1.50 
Granted and issued   
-
    
-
    
-
    
-
    
-
    
-
 
Forfeited/Cancelled   
-
    
-
    
-
    
-
    
-
    
-
 
Vested   
-
    
-
    
-
    
-
    
-
    
-
 
Outstanding March 31, 2024   783,167   $1.50    
-
   $
-
    783,167   $1.50 
*After giving effect to a 1 for 30 reverse stock split on August 30, 2023.

 

Schedule of Restricted Stock Granted Issued and Exercisable The restricted stock granted, issued and exercisable at March 31, 2024 is as follows:
    Restricted Stock
Granted and
Vested
 
Grant date Price   Number Granted*   Weighted Average Fair Value per Share* 
$1.47    683,167   $1.47 
$1.50    33,333    1.50 
$1.65    66,667    1.65 
      783,167   $1.50 
*After giving effect to a 1 for 30 reverse stock split on August 30, 2023.
Schedule of Fair Value of the Warrants Granted and Issued The fair value of the warrants granted and issued, as described above, were determined by using a Black Scholes valuation model using the following assumptions:
   Three months ended
March 31,
2024
 
Exercise price  $0.345 
Risk free interest rate   4.15 to 4.21%
Expected life    5 years 
Expected volatility of underlying stock    190.72 to 191.17%
Expected dividend rate   0%
Warrant [Member]  
Stockholders’ Equity [Line Items]  
Schedule of Warrant Activity A summary of warrant activity during the period January 1, 2023 to March 31, 2024 is as follows:
   Shares
Underlying
Warrants*
   Exercise
price per
share*
   Weighted
average
exercise
price*
 
Outstanding January 1, 2023   5,186,376   $0.345 – 5.625   $0.9000 
Granted   6,289,051     0.345 – 1.50    0.3556 
Forfeited   (33,334)   1.50    1.5000 
Cancelled on disposal of investment in Frictionless and Beyond Fintech   (1,000,000)   0.345    0.3450 
Exercised   
-
    
-
    
-
 
Outstanding December 31, 2023   10,442,093   $0.345 – 5.625   $0.6265 
Granted   745,437    0.345    0.345 
Forfeited   
-
    
-
    
-
 
Cancelled on disposal of investment in Frictionless and Beyond Fintech   
-
    
-
    
-
 
Exercised   -    
-
    
-
 
Outstanding March 31, 2024   11,187,530   $0.345 – 5.625   $0.6077 
*After giving effect to a 1 for 30 reverse stock split on August 30, 2023.

 

Schedule of Warrants Outstanding and Exercisable The warrants outstanding and exercisable at March 31, 2024 are as follows:
    Warrants Outstanding*   Warrants Exercisable* 
Exercise Price*   Number
Outstanding*
   Weighted
Average
Remaining
Contractual
life in years
   Weighted
Average
Exercise
Price*
   Number
Exercisable*
   Weighted
Average
Exercise
Price*
   Weighted
Average
Remaining
Contractual
life in years
 
$0.345    9,801,079    3.99         9,801,079         3.99 
$0.450    266,668    4.23         266,668         4.23 
$1.035    500,000    1.27         468,750         1.27 
$1.500    33,334    4.37         33,334         4.37 
$4.50    505,560    1.96         505,560         1.96 
$5.625    80,889    1.96         80,889         1.96 
      11,187,530    3.77   $0.6077    11,156,280   $0.6065    3.78 
*After giving effect to a 1 for 30 reverse stock split on August 30, 2023.
Options [Member]  
Stockholders’ Equity [Line Items]  
Schedule of Warrant Activity A summary of option activity during the period January 1, 2023 to March 31, 2024 is as follows:
    Shares
Underlying
options*
    Exercise
price per
share*
    Weighted
average
exercise
price*
 
Outstanding January 1, 2023     1,543,891     $ 1.20 to 12.00     $ 4.47  
Granted    
-
     
-
     
-
 
Forfeited/Cancelled     (23,889 )   $
1.20 to 12.00
      5.41  
Exercised    
-
     
-
     
-
 
Outstanding December 31, 2023     1,520,002     $ 1.20 to 12.00     $ 4.46  
Granted    
-
     
-
     
-
 
Forfeited/Cancelled    
-
     
-
     
-
 
Exercised    
-
     
-
     
-
 
Outstanding March 31, 2024     1,520,002     $ 1.20 to 12.00     $ 4.46  
*After giving effect to a 1 for 30 reverse stock split on August 30, 2023.
Schedule of Warrants Outstanding and Exercisable The options outstanding and exercisable at March 31, 2024 are as follows:
    Options Outstanding*   Options Exercisable* 
Exercise Price*   Number
Outstanding*
   Weighted
Average
Remaining
Contractual
life in years
   Weighted
Average
Exercise
Price*
   Number
Exercisable*
   Weighted
Average
Exercise
Price*
   Weighted
Average
Remaining
Contractual
life in years
 
$1.20    20,001    5.61         20,001         5.61 
$4.50    1,500,001    7.69                      1,430,557                           7.71 
      1,520,002    7.66   $4.46    1,450,558   $4.45    7.68