Annual report pursuant to Section 13 and 15(d)

CONVERTIBLE DEBENTURE PAYABLE (Details Narrative)

v3.23.1
CONVERTIBLE DEBENTURE PAYABLE (Details Narrative) - USD ($)
1 Months Ended 12 Months Ended
Sep. 28, 2022
Dec. 31, 2022
Dec. 31, 2021
Oct. 12, 2022
Aug. 03, 2022
May 19, 2022
Debt face amount   $ 3,048,781       $ 3,048,781
Warrant to purchase shares   406,504        
Debenture conversion description   The Debenture is convertible voluntarily by the Purchaser at any time into shares of our common stock, at the lesser of $7.50, representing 100% of the closing price of our common stock on the trading day immediately prior to the Closing Date, or 75% of the average VWAP of our common stock during the 5 trading day period immediately prior to the conversion date (the “Conversion Price”), or automatically upon the occurrence of a single public offering of our common stock which results in the listing of our common stock on a national securities exchange as defined in the Exchange Act (the “Qualified Offering”) into shares of our common stock at the lesser of the Conversion Price, or 75% of the offering price of the securities offered in the Qualified Offering        
Proceeds from financing transition   $ 2,500,000        
OID percentage   18.00%        
Exercise price   $ 6        
Adjusted exercise price   $ 3        
Partial liquidated damages description   Company shall pay to the Purchaser as partial liquidated damages equal to the product of 2% of the principal amount not to exceed 24% of the aggregate principal. If the Company fails to pay the liquidated damages within seven days after the date payable, the Company will pay interest at 18% until such amounts are paid in full        
Unamortized discount and issuance costs   $ 0 $ 402,465      
Outstanding warrants   2,258,355 406,504      
Fair market value of stock warrants   $ 4,359,583 $ 847,048      
Conversion feature debt discount   980,000 980,000      
Interest expense related to debt issuance costs   5,443 5,443      
Interest expense   402,465 444,583      
Debt issuance cost   0 0      
Accrued expenses   189,700 189,700      
General and administrative expenses   $ 7,606,218 3,882,706      
Outstanding principal amount of debenture, percentage   130.00%        
Accrued and unpaid interest, percentage   100.00%        
Default penalties included in general and administrative expense   $ 915,000        
Warrant to purchase additional shares of common stock   101,626        
Warrant to purchase additional shares of common stock, expiry date   Mar. 29, 2029        
Gain on extinguishment   $ 1,109,105        
Debt issuance costs   $ 275,000        
Warrant issued   4,054,055   60,000 10,000  
Amortization Of Interest   $ 465,635 514,365      
Interest Expense Related To The Original Issue Discount And Debt Issuance Costs   $ 423,782 $ 399,999      
Registration Rights Agreement [Member] | Securities Purchase Agreement [Member]            
Warrant exercisable per share $ 1.35          
Armistice Warrants [Member]            
Warrant issued 1,750,225          
Original Warrant 1,400,180          
New Warrants 350,045