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WARRANT LIABILITY (Tables)
9 Months Ended
Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
SCHEDULE OF ESTIMATED FAIR VALUES OF WARRANT LIABILITIES MEASURED ON A RECURRING BASIS

For the period ended September 30, 2023, the estimated fair values of the warrant liabilities measured on a recurring basis are as follows:

 

   Nine Months Ended 
   September 30, 
   2023 
Expected term   1.71 - 2.50 years 
Expected average volatility   177 - 220%
Expected dividend yield   8.33%
Risk-free interest rate   1.505.46%
SUMMARY OF CHANGES IN WARRANT LIABILITIES

The following table summarizes the changes in the warrant liabilities during the period ended September 30, 2023, and December 31, 2022:

 

Fair Value Measurements Using Significant Unobservable Inputs (Level 3) 
      
Addition of new warrants  $721,275 
Additional day-one loss   (28,043)
Change in fair value of warrant liability   (494,753)
Warrant liability as of December 31, 2022  $198,479 
      
Addition of new warrants  $- 
Additional day-one loss   - 
Change in fair value of warrant liability   (114,984)
Warrant liability as of September 30, 2023  $83,495