Quarterly report pursuant to Section 13 or 15(d)

EQUITY (Tables)

v3.23.1
EQUITY (Tables)
3 Months Ended
Mar. 31, 2023
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, 2021     29,700,000       0.13  
Granted     1,000,000       0.10  
Expired     (6,730,000 )     0.11  
Outstanding at year ended December 31, 2022     23,970,000       0.13  
Granted     250,000       0.10  
Expired     (6,000,000 )     0.12  
Outstanding at March 31, 2023     18,220,000     $ 0.14  
SCHEDULE OF WARRANTS ISSUANCE DURING PERIOD

The table below summarizes warrant issuances during the three months ended March 31, 2023, and year ended December 31, 2022:

 

   

March 31, 2023

   

December 31, 2022

 
Warrants granted:                
Pursuant to financing arrangements     250,000       1,000,000  
Total     250,000       1,000,000  
SCHEDULE OF FAIR VALUE OF ASSUMPTION OF WARRANTS

The warrants were valued using the Black Scholes Option Pricing Model with the range of assumptions outlined below. Expected life was determined based on historical data of the Company.

 

   

March 31, 2023

   

December 31, 2022

 
Risk-free interest rate     3.81 %     2.49% – 4.22 %
Expected life     3.0 years       3.0 years  
Expected dividend rate     0 %     0 %
Expected volatility     253 %     267% to 299 %