XML 39 R27.htm IDEA: XBRL DOCUMENT v3.24.2.u1
STOCKHOLDERS’ EQUITY (Tables)
 6 Months Ended
Jun. 30, 2024
Equity [Abstract]  
SUMMARY OF WARRANTS ACTIVITY

A summary of activity during the six months ended June 30, 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    3.23 
Granted   -    -    - 
Exercised   -    -    - 
Forfeited/canceled   -    -    - 
Outstanding, June 30, 2024   2,538,101   $0.32    2.73 
                
Exercisable Warrants, June 30, 2024   2,538,101   $0.32    2.73 
SUMMARY OF INFORMATION RELATING TO OUTSTANDING AND EXERCISABLE WARRANTS

The following table summarizes information relating to outstanding and exercisable warrants as of June 30, 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    0.99   $0.34    941,599   $0.34 
 472,205    0.50    0.34    472,205    0.34 
 562,149    0.61    0.35    562,149    0.35 
 281,074    0.31    0.22    281,074    0.22 
 281,074    0.32    0.22    281,074    0.22 
 2,538,101    2.73   $0.32    2,538,101   $0.32 
SUMMARY OF STOCK OPTION ACTIVITY

The following table summarizes the stock options activity:

  

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 on June 30, 2023   14,400,000   $0.1560 
           
Exercisable at June 30, 2024   11,544,000      
           
Weighted-average fair value of options granted in the period       $- 
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, which uses the following weighted average assumptions.

 

   Three Months Ended 
   June 30, 2024 
Expected life (years)   0.58 – 3.0 
Risk-free interest rate   4.30%
Expected forfeiture rate   0%
Volatility   1.90% - 2.43%
Expected dividend yield   0%
SCHEDULE OF NON-VESTED SHARES

The following table summarizes certain information regarding the Company’s non-vested shares:

   Number of Shares 
     
Non-vested as of December 31, 2023   4,368,000 
Granted   - 
Forfeited or expired   - 
Vested   (1,512,000)
      
Non-vested as of June 30, 2024   2,856,000 
SUMMARY OF STOCK OPTION ACTIVITY OUTSTANDING AND EXERCISABLE

The following table summarizes the stock options exercisable:

 

   Options   Options 
   Outstanding   Exercisable 
         
Number of shares   14,400,000    11,544,000 
Weighted-average contractual life in years   8.53    8.53 
Weighted-average exercise price       $0.1518 
Intrinsic value       $-