v3.22.2.2
WARRANTS (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2022
Dec. 31, 2021
Warrants    
SCHEDULE OF OUTSTANDING AND EXERCISABLE WARRANTS

The Company’s outstanding and exercisable warrants as of September 30, 2022, are presented below:

   Number Outstanding  

Weighted Average
Exercise
Price

   Contractual Life In Years     
Warrants outstanding as of December 31, 2021   44,535   $0.32    0.95   $208,078 
Warrants granted   -    -    -    - 
Warrants forfeited, expired, cancelled   (3,027)   3.90    -    - 
Warrants exercised   (14,584)   0.06    -    - 
Warrants outstanding as of September 30, 2022   26,924   $0.06    0.75   $28,809 
Warrants exercisable as of September 30, 2022   26,924   $0.06    0.75   $28,809 

The Company’s outstanding and exercisable warrants as of December 31, 2021 and 2020 are presented below:

 

  

Number

Outstanding

  

Weighted

Average

Exercise

Price

  

Contractual

Life in

Years

  

Intrinsic

Value

 
Warrants Outstanding as of December 31, 2019   524,480   $0.42    2.39   $3,273,897 
Warrants granted   5,000   $0.06    5.00    - 
Warrants forfeited   (33,336)  $2.30    -    - 
Warrants exercised   (413,393)  $0.09    -    - 
                     
Warrants Outstanding as of December 31, 2020   82,751   $1.33    2.73   $352,951 
Warrants granted   5,000   $3.00    1.48    - 
Warrants forfeited   (38,216)  $2.51    -    - 
Warrants exercised   (5,000)  $3.00    -    - 
                     
Warrants Outstanding as of December 31, 2021   44,535   $0.32    0.95   $208,078 
Warrants Exercisable as of December 31, 2021   44,535   $0.32    0.95   $208,078 
SUMMARY OF ASSUMPTIONS USED TO ESTIMATE FAIR VALUE OF WARRANTS GRANTED  

The following table summarizes the assumptions used to estimate the fair value of the warrants granted during the years ended December 31, 2021 and 2020.

 

   2021   2020 
Expected dividend yield   0%   0%
Weighted-average expected volatility   217%   217%
Weighted-average risk-free interest rate   2.75%   2.75%
Expected life of warrants   5 years    5 years