Annual report pursuant to Section 13 and 15(d)

STOCK-BASED COMPENSATION AND EMPLOYEE BENEFIT PLAN (Tables)

STOCK-BASED COMPENSATION AND EMPLOYEE BENEFIT PLAN (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

SCHEDULE OF WEIGHTED AVERAGE ESTIMATED FAIR VALUE OF STOCK OPTION GRANTS

The weighted average estimated fair value of stock option grants and the weighted average assumptions that were used in calculating such values for the years ended December 31, 2021, and 2020 are as follows:

	Year Ended
	December 31,
	2021		2020

Expected volatility		-		133.92% - 133.97	%
Expected dividend yield		-		-
Risk-free interest rates		-		0.29% - 0.30	%
Expected term (in years)		-		3.0

SCHEDULE OF STOCK OPTION ACTIVITY

A summary of stock option activity for the year ended December 31, 2021, and 2020 is presented as follows:

SCHEDULE OF STOCK OPTION ACTIVITY

						Weighted		Weighted
	Weighted					Average		Average
	Average		Number of			Remaining		Optioned		Aggregate
	Exercise		Optioned			Contractual		Grant Date		Intrinsic
	Price		Shares			Term in Years		Fair Value		Value

Balance as of December 31, 2019	$	0.69		1,575,000			3.82	$	0.04	$	-

Granted		0.10		90,000					0.06
Exercised		-		-					-
Cancelled/expired		0.54		(25,000	)				0.19

Balance as of December 31, 2020	$	0.66		1,640,000			2.83	$	0.04	$	-

Granted		-		-					-
Exercised		-		-					-
Cancelled/expired		0.60		(50,000	)				0.19

Balance as of December 31, 2021	$	0.67		1,590,000			1.91	$	0.04	$	-

Vested and exercisable as of December 31, 2021	$	0.67		1,590,000			1.91	$	0.04	$	-