STOCK OPTIONS (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

SCHEDULE OF STOCK OPTION ACTIVITY

The following table presents the Company’s stock option activity for employees and directors of the Company for the year ended December 31, 2023 and 2022:

	Number of Options			Weighted Average Exercise Price
Outstanding at January 1, 2022		27,518			23.69
Granted		6,015			8.75
Exercised		-			-
Forfeited		-			-
Expired		-			-
Outstanding at January 1, 2023		33,533			21.00
Granted		-			-
Exercised		-			-
Forfeited		(6,015	)		8.75
Expired		-			-
Outstanding at December 31, 2023		27,518			23.69
Number of options exercisable at December 31, 2023		27,518			23.69

SCHEDULE OF ESTIMATED FAIR VALUE OF OPTIONS GRANTED

The fair value of options granted during 2022 was estimated at the dates of grant using the Black-Scholes option pricing model. The following are the data and assumptions used:

	2022
Dividend yield		0
Expected volatility (%) (*)		55.37-64.89	%
Risk-free interest rate (%) (**)		3.46-3.48	%
Expected term of options (years) (***)		5.31-6.31
Exercise price (US dollars)		7-10.5
Share price (US dollars)		20.09
Fair value (US dollars)		2.1-2.2

(*)	Due to the low trading volume of the Company’s common stock and lack of historical information, the expected volatility was based on the historical volatility of the share price of other public companies that operate in the same industry sector as the Company (agricultural chemical industry).
(**)	The risk-free interest rate represented the risk-free rate of $ zero – coupon US Government Loans.
(***)	Due to the fact that the Company does not have sufficient historical exercise data, the expected term was determined based on the “simplified method”.