Annual report pursuant to Section 13 and 15(d)

FAIR VALUE MEASUREMENT (Tables)

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FAIR VALUE MEASUREMENT (Tables)
 12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
SCHEDULE OF LIABILITIES MEASURED AT FAIR VALUE

The following tables set forth the Company’s financial assets and liabilities measured at fair value by level within the fair value hierarchy as of December 31, 2021 and December 31, 2020. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.

 

  SCHEDULE OF LIABILITIES MEASURED AT FAIR VALUE

    Total     Level 1     Level 2     Level 3  
Convertible Bridge Notes   $       -     $      -     $      -     $       -  
Fair value as of December 31 2021   $ -     $ -     $ -     $ -  

 

    Total     Level 1     Level 2     Level 3  
Convertible Bridge Notes   $ 3,598,000     $     -     $       -     $ 3,598,000  
Fair value as of December 31, 2020   $ 3,598,000     $ -     $ -     $ 3,598,000  
SCHEDULE OF RECONCILIATION OF LEVEL 3 CONVERSION OPTION LIABILITY

The following tables present a reconciliation of the beginning and ending balances of items measured at fair value on a recurring basis that use significant unobservable inputs (Level 3) that has been recorded in the condensed consolidated balance sheets which is as follows:

 

  SCHEDULE OF RECONCILIATION OF LEVEL 3 CONVERSION OPTION LIABILITY

Fair value, December 31, 2020   $ 3,598,000  
Accrued interest     35,983  
Conversion to shares of common stock     (3,633,983 )
Fair value, December 31, 2021   $ -