Annual report pursuant to Section 13 and 15(d)

TEMPORARY EQUITY, PREFERRED STOCK, COMMON STOCK, AND WARRANTS (Tables)

v3.23.1
TEMPORARY EQUITY, PREFERRED STOCK, COMMON STOCK, AND WARRANTS (Tables)
12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
SCHEDULE OF ISSUED SHARES OF COMMON STOCK

In 2022 and 2021, the Company issued 626,917 and 1,167,423 shares of common stock, respectively, as follows:

 

 

    2022     2021  
    For the Years Ended December 31,  
    2022     2021  
Adjustment for 40:1 Reverse Stock Split     266       -  
Conversion of bridge notes and accrued interest to common stock     -       165,692  
Conversion of debentures     5,469       15,825  
Conversion of accrued salary to management     168,611       -  
Conversion of Series A Stock to common stock     -       18,750  
Conversion of Series B Stock to common stock     -       163,134  
Exercise of Series B Warrants to common stock     -       46,786  
Exchange of Series E-1 Stock to common stock     -       720,986  
Conversion of convertible debt to common stock     22,155       -  
Issuance of common stock for cash     311,666       -  
Stock based compensation for services     118,750       36,250  
Total Common Shares issued     626,917       1,167,423  
SCHEDULE OF WARRANT ACTIVITY

A summary of warrant activity and related information during the years ended December 31, 2022 and 2021 is as follows:

 

 

    Warrants     Weighted
Average
Exercise
Price
    Aggregate
Intrinsic Value
 
Outstanding as of December 31, 2020     1,154     $ 8.80     $                -  
Issued     212,548       11.55       -  
Exercised     46,786       10.00       -  
Expired     129,832       9.82       -  
Outstanding as of December 31, 2021     37,083     $ 19.52     $ -  
Issued     311,668       6.00       -  
Expired     25,208       24.00       -  
Outstanding as of December 31, 2022     323,543     $ 6.15     $ -  
SCHEDULE OF STOCKHOLDERS' EQUITY NOTE, WARRANTS OR RIGHTS

The following is a summary of the outstanding common stock warrants as of December 31, 2022:

 

    Number of
Warrants
    Exercise price
per share
    Expiration
Date
Warrants issued in connection with issuance of Series B Stock to lead investor     11,875     $ 10.00     January 15, 2023
Warrants issued in connection with common stock     311,668     $ 6.00     Sept. 30 – Dec. 31, 2024
Total Outstanding as of December 31, 2022     323,543