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STOCKHOLDERS’ EQUITY (DEFICIT) (Tables)
12 Months Ended
Dec. 31, 2023
Equity [Abstract]  
SUMMARY OF WARRANTS ACTIVITY

A summary of activity during the period ended December 31, 2023, and 2022 follows:

 

   Warrants Outstanding 
   Number of   Weighted Average  

Weighted Average

Remaining life

 
   Warrants   Exercise Price   (years) 
             
Outstanding, December 31, 2021      $     
Granted   2,538,101    0.32    4.27 
Exercised            
Forfeited/canceled            
Outstanding, December 31, 2022   2,538,101    0.32    4.27 
Granted            
Exercised            
Forfeited/canceled            
Outstanding, December 31, 2023   2,538,101   $0.32    4.27 
SUMMARY OF INFORMATION RELATING TO OUTSTANDING AND EXERCISABLE WARRANTS

The following table summarizes information relating to outstanding and exercisable warrants as of December 31, 2023:

 

 

Warrants Outstanding   Warrants Exercisable 

Number of

Warrants

  

Weighted Average

Remaining Contractual

life  (in years)

  

Weighted Average

Exercise Price

  

Number of

Shares

  

Weighted Average

Exercise Price

 
 941,599    3.18   $0.34    941,599   $0.34 
 472,205    3.19    0.34    472,205    0.34 
 562,149    3.32    0.35    562,149    0.35 
 281,074    3.40    0.22    281,074    0.22 
 281,074    3.48    0.22    281,074    0.22 
 2,538,101    3.27   $0.32    2,538,101   $0.32 
SUMMARY OF STOCK OPTION ACTIVITY

The following table summarizes the stock options activity for the year ended December 31, 2023:

 

 

 

  

Number of

Shares

  

Weighted-Average

Exercise Price

(per share)

 
         
Outstanding as of December 31, 2022   -   $- 
Granted   14,400,000    0.1560 
Exercised   -    - 
Forfeited or expired   -    - 
Outstanding at December 31, 2023   14,400,000   $0.1560 
Exercisable at December 31, 2023   10,032,000      
Weighted-average fair value of options granted in the period       $0.1518 
SCHEDULE OF THE WEIGHTED AVERAGE FAIR VALUE OF STOCK OPTIONS

 

   Year Ended 
   December 31, 2023 
Expected life in years   9.25 
Risk-free interest rate   3.88%
Annual forfeiture rate       0%
Volatility   199%
Expected dividend yield   0%
SCHEDULE OF NON-VESTED SHARES

The following table summarizes certain information regarding the Company’s non-vested shares as of the year ended December 31, 2023:

 

 

   Number of Shares  

Weighted-Average

Grant Date

Fair Value

 
         
Non-vested as of December 31, 2022   -   $- 
Granted   14,400,000    0.1560 
Forfeited or expired   -    - 
Vested   (10,032,000)   0.1560 
Non-vested as of December 31, 2023   4,368,000   $0.1560 
SUMMARY OF STOCK OPTION ACTIVITY

The following table summarizes the stock options exercisable for the year ended December 31, 2023:

 

 

   Options   Options 
   Outstanding   Exercisable 
         
Number of shares   14,400,000    10,032,000 
Weighted-average contractual life in years   9.25    9.25 
Weighted-average exercise price  $0.1560   $0.1618 
Intrinsic value  $0.00   $0.00