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WARRANTS (Tables)
 12 Months Ended
Dec. 31, 2021
SUMMARY OF WARRANT ACTIVITY

The following is a summary of the warrant activity for the year ended December 31, 2021:

 

   Number of Warrants  

Average

Exercise Price

   Weighted Average Remaining Contractual Term in Years 
Outstanding at January 1, 2021   -    -    - 
Exercisable at January 1, 2021   -    -    - 
Granted   650,000    0.001    5.00 
Exercised/surrendered   (499,751)   0.001    4.75 
Forfeited   -    -    - 
Expired   -    -    - 
Outstanding at December 31, 2021   150,249   $0.001    4.74 
Exercisable at December 31, 2021   150,249   $0.001    4.74 
Freight App Inc [Member]  
SUMMARY OF FAIR VALUE AT GRANT DATE

The following assumptions were used when calculating the issuance date fair value:

 

Exercise price of the warrants  $0.25 
Expected life of the warrants   7 years 
Current value of the underlying share  $1.45 
Expected volatility   101.70%
Expected dividend yield   0.00%
Risk-free interest rates   0.22%
SUMMARY OF WARRANT ACTIVITY

The table below summarizes the Company’s warrant activities:

 

   Number of Common Shares Warrants   Number of Series Seed Shares Warrants   Number of Series A Shares Warrants   Exercise Price Range Per Share   Weighted Average Exercise Price 
Balance at December 31, 2019   9,050    7,224    -   $5.00 to 10.38   $7.39 
Granted   -    -    1,573,362    0.00001 to 0.60    0.40 
Forfeited   -    -    -    -    - 
Exercised   -    -    (807,500)   0.00001 to 0.60    0.54 
Balance at December 31, 2020   9,050    7,224    765,862    0.00001 to 10.38      0.40 
Forfeited   -    -    -    -    - 
Exercised   -    -    (765,862)   0.25    0.25 
Balance at December 31, 2021   9,050    7,224    -   $0.00001 to 10.38   $7.39 
Freight App Inc [Member] | September Promissory Note [Member]  
SUMMARY OF FAIR VALUE AT GRANT DATE

The following assumptions were used when calculating the fair value of the A3 Warrants:

 

Exercise price of the warrants   $0.01-$1.125 
Expected life of the warrants   0.3-7 years 
Current value of the underlying Series A3 Preferred Stock   $0.75-$0.82 
Expected volatility   58.5%-71.3% 
Expected dividend yield   0.00%
Risk-free interest rates   0.02%-1.44% 
Freight App Inc [Member] | December Promissory Note [Member]  
SUMMARY OF FAIR VALUE AT GRANT DATE

The following assumptions were used when calculating the fair value of the A3 Warrants:

 

Exercise price of the warrants  $0.01-1.125 
Contractual life of the warrants   0.3-7 years 
Current value of the underlying Series A3 Preferred Stock  $0.80 
Expected volatility   66.6%-71.3% 
Expected dividend yield   0.00%
Risk-free interest rates   0.02%-1.44%