SHARE BASED COMPENSATION |
3 Months Ended | 12 Months Ended |
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Mar. 31, 2023 |
Dec. 31, 2022 |
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Share-Based Payment Arrangement [Abstract] | ||
SHARE BASED COMPENSATION |
The Company applied ASC 718 and related interpretations in accounting for measuring the cost of share-based compensation over the period during which the consultants are required to provide services in exchange for the issued shares. The fair value of above award was estimated at the grant date using Black-Scholes model for pricing the share compensation expenses.
On December 22, 2020, the Board of Directors of the Company authorized the issuance of an aggregate of shares and warrants to The Crone Law Group, P.C. or its designees for legal services that had been rendered. The five-year warrants are exercisable at one cent per share.
The shares of were vested on December 22, 2020 and warrants were exercised. The fair value of above award was estimated at the grant date using Black-Scholes model for pricing the share compensation expenses. The fair value of the Black-Scholes model includes the following assumptions: expected life of years, expected dividend rate of , volatility of and an average interest rate of .
On January 1, 2021, the Board of Directors of the Company authorized the issuance of an aggregate of shares and warrants to a third party service provider for consulting services that had been rendered. The five-year warrants are exercisable at one cent per share.
The shares of common stock and warrants were vested on January 1, 2021 and during the year ended December 31, 2022, warrant shares were exercised cashless.
The fair value of above award was estimated at the grant date using Black-Scholes model for pricing the share compensation expenses. The fair value of the Black-Scholes model includes the following assumptions: expected life of years, expected dividend rate of , volatility of and an average interest rate of .
As of March 31, 2023, the Company had 717,217 warrants outstanding related to above mentioned services with i) weighted average exercise price of $ ; ii) weighted average remaining contractual life of years; and iii) aggregate intrinsic value of $ million.
For the three-month periods ended March 31, 2023 and 2022, the Company recognized relevant share-based compensation expense of and for the vested shares, and and for the warrants, respectively.
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The Company applied ASC 718 and related interpretations in accounting for measuring the cost of share-based compensation over the period during which the consultants are required to provide services in exchange for the issued shares. The fair value of above award was estimated at the grant date using Black-Scholes model for pricing the share compensation expenses.
On December 22, 2020, the Board of Directors of the Company authorized the issuance of an aggregate of shares and warrants to The Crone Law Group, P.C. or its designees for legal services that had been rendered. The five-year warrants are exercisable at one cent per share.
The shares of were vested on December 22, 2020 and warrants were exercised. The fair value of above award was estimated at the grant date using Black-Scholes model for pricing the share compensation expenses. The fair value of the Black-Scholes model includes the following assumptions: expected life of years, expected dividend rate of %, volatility of % and an average interest rate of %.
On January 1, 2021, the Board of Directors of the Company authorized the issuance of an aggregate of shares and warrants to a third party service provider for consulting services that had been rendered. The five-year warrants are exercisable at one cent per share.
The shares of common stock and warrants were vested on January 1, 2021 and during the year ended December 31, 2022, shares were exercised.
The fair value of above award was estimated at the grant date using Black-Scholes model for pricing the share compensation expenses. The fair value of the Black-Scholes model includes the following assumptions: expected life of years, expected dividend rate of %, volatility of % and an average interest rate of %.
As of December 31, 2022, the Company had 841,440 warrants outstanding related to above mentioned services with i) weighted average exercise price of $ ; ii) weighted average remaining contractual life of years; and iii) aggregate intrinsic value of $ million.
For the year ended December 31, 2022 and 2021, the Company recognized relevant share-based compensation expense of and $ for the vested shares, and and $ for the warrants, respectively
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