Annual report pursuant to Section 13 and 15(d)

EQUITY (Tables)

v3.22.2.2
EQUITY (Tables)
 12 Months Ended
Dec. 31, 2021
Equity [Abstract]  
SCHEDULE OF COMMON STOCK PURCHASE WARRANTS ISSUED AND OUTSTANDING

Continuity of the Company’s common stock purchase warrants issued and outstanding is as follows:

 

    Warrants     Weighted average exercise price  
Outstanding at year ended December 31, 2019     57,043,836     $ 0.14  
Granted     18,650,000       0.15  
Exercised     (1,650,000 )     0.08  
Expired     (33,279,170 )     0.19  
Outstanding at year ended December 31, 2020     40,764,666     $ 0.13  
Granted     9,400,000       0.09  
Expired     (20,464,666 )     0.11  
Outstanding at year ended December 31, 2021     29,700,000       0.13  
SCHEDULE OF WARRANTS ISSUANCE DURING PERIOD

The table below summarizes warrant issuances during the years ended December 31, 2020, and 2020:

 

   

Year ended

December 31,

  
    2021     2020  
Warrants granted:                
Board of directors and advisory board service     3,000,000       5,250,000  
Pursuant to employment agreements     —       1,000,000  
Pursuant to financing arrangements     1,000,000       1,000,000  
Pursuant to consulting agreements     —       250,000  
Pursuant to loan agreements     5,400,000       11,150,000  
Total     9,400,000       18,650,000  
SCHEDULE OF FAIR VALUE OF ASSUMPTION

Warrants granted in the years ended December 31, 2021, and 2020 were valued using the Black Scholes Option Pricing Model with the range of assumptions outlined below. Expected life was determined based on historical exercise data of the Company.

 

    December 31, 2021     December 31, 2020  
Risk-free interest rate     0.16% to 0.97 %     1.65% to 2.38 %
Expected life     2.0 - 3.0 years       1.0 - 3.0 years  
Expected dividend rate     0 %     0 %
Expected volatility     277% to 356 %     240% - 274 %