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STOCKHOLDERS’ EQUITY (Tables)
 3 Months Ended
Mar. 31, 2024
Equity [Abstract]  
SUMMARY OF WARRANTS ACTIVITY

A summary of activity during the three-month period ended March 31, 2024, follows:

 

   Warrants Outstanding   Weighted Average 
   Number of   Weighted Average   Remaining life 
   Warrants   Exercise Price   (years) 
             
Outstanding, December 31, 2023   2,538,101   $0.32    4.27 
Granted   -    -    - 
Exercised   -    -    - 
Forfeited/canceled   -    -    - 
Outstanding, March 31, 2024   2,538,101   $0.32    3.52 
                
Exercisable Warrants, March 31, 2024   2,538,101   $0.32    3.52 
SUMMARY OF INFORMATION RELATING TO OUTSTANDING AND EXERCISABLE WARRANTS

The following table summarizes information relating to outstanding and exercisable warrants as of March 31, 2024:

 

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    3.43   $0.34    941,599   $0.34 
472,205    3.44    0.34    472,205    0.34 
562,149    3.57    0.35    562,149    0.35 
281,074    3.65    0.22    281,074    0.22 
281,074    3.74    0.22    281,074    0.22 
2,538,101    3.52   $0.32    2,538,101   $0.32 
SUMMARY OF STOCK OPTION ACTIVITY

The following table summarizes the stock options activity for the three months ended March 31, 2024:

 

  

Number of

Shares

  

Weighted-Average

Exercise Price

(per share)

 
         
Outstanding as of December 31, 2023   14,400,000   $0.1560 
Granted   -    - 
Exercised   -    - 
Forfeited or expired   -    - 
Outstanding at March 31, 2023   14,400,000   $0.1560 
Exercisable at March 31, 2024   10,788,000      
Weighted-average fair value of options granted in the period       $0.1560 
SCHEDULE OF THE WEIGHTED AVERAGE FAIR VALUE OF STOCK OPTIONS

The weighted average fair value of stock options granted is based on the Black-Scholes option pricing model using the following weighted average assumptions.

 

   Three Month 
   March 31, 2024 
Expected life in years   9.01 
Risk-free interest rate   4.20%
Annual forfeiture rate   0%
Volatility   221%
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 three-month period ended March 31, 2024:

 

   Number of Shares  

Weighted-Average
Grant Date Fair Value

 
         
Non-vested as of December 31, 2023   14,400,000   $0.1560 
Granted   -    - 
Forfeited or expired   -    - 
Vested   (10,788,000)   0.1560 
Non-vested as of March 31, 2024   3,612,000   $0.1560 
SUMMARY OF STOCK OPTION ACTIVITY OUTSTANDING AND EXERCISABLE

The following table summarizes the stock options exercisable for the three-month period ended March 31, 2024:

 

   Options   Options 
   Outstanding   Exercisable 
         
Number of shares   14,400,000    10,788,000 
Weighted-average contractual life in years   9.01    9.01 
Weighted-average exercise price  $0.1560   $0.1614 
Intrinsic value  $0.00   $0.00