STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2024

Share-Based Payment Arrangement [Abstract]

SCHEDULE OF STOCK OPTION ACTIVITY

The following table summarizes the stock options activity and related information for the nine months ended September 30, 2024 and 2023:

	Number of Options			Weighted Average Exercise Price		Weighted Average Remaining Term (Years)		Intrinsic Value
As of January 1, 2023		1,466,500		$	2.50		8.94	$	-
Granted		102,000			1.17		9.36		-
Exercised		-			-		-		-
Forfeited		(9,500	)		2.50		-		-
As of September 30, 2023		1,559,000		$	2.41		8.27	$	-
As of January 1, 2024		1,547,000		$	2.41		8.01	$	-
Granted		-			-		-		-
Exercised		-			-		-		-
Forfeited		(35,000	)		2.42		-		-
As of September 30, 2024		1,512,000		$	2.41		7.26	$	-
Vested and exercisable as of September 30, 2024		813,250		$	2.34		7.28	$	-

SCHEDULE OF RESTRICTED STOCK UNITS

The following table summarizes the RSUs activity for the nine months ended September 30, 2024 and 2023:

	Number of RSUs			Weighted Average Grant Date Fair Value Per Share
Unvested as of January 1, 2023		85,820		$	4.95
Granted		671,350			1.03
Vested		(692,804	)		1.15
Forfeited		-			-
Unvested as of September 30, 2023		64,366		$	4.95
Unvested as of January 1, 2024		64,366		$	4.95
Granted		-			-
Vested		(21,454	)		4.95
Forfeited		-			-
Unvested as of September 30, 2024		42,912		$	4.95