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STOCK AWARDS, WARRANTS AND OPTIONS (Tables)
6 Months Ended
Jun. 30, 2022
Warrant [Member]  
Summary of warrant activity

The following table summarizes all warrant activity for the six months ended June 30, 2022:

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​

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Weighted Average

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Warrants

    

Exercise Price

Outstanding at December 31, 2021

 

105,782

​

$

1.37

Granted

​

—

​

​

—

Exercised

​

—

​

​

—

Outstanding at June 30, 2022

 

105,782

​

$

1.37

​

Schedule of outstanding warrants

The following table summarizes all outstanding warrants to purchase shares of the Company’s common stock:

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​

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​

​

​

​

​

​

​

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Warrants Outstanding

​

​

​

​

​

​

​

​

​

June 30, 

​

December 31, 

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Exercise Price

​

Expiration

Type

    

Grant Date

    

2022

    

2021

    

per Share

    

Date

​

​

​

​

​

​

​

​

​

​

​

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Common Warrants

​

12/19/2019

​

40,782

 

40,782

​

$

1.10

​

12/19/2024

Common Warrants

​

3/27/2020

​

65,000

 

65,000

​

$

1.5313

​

3/27/2025

​

​

​

​

105,782

​

105,782

​

​

​

​

​

Stock Option [Member]  
Schedule of fair value of option using Black-Scholes option

The Company estimates the fair value of each option award using the Black-Scholes option-pricing model. The Company used the following assumptions to estimate the fair value of stock options issued in the six months ended June 30, 2022 and 2021:

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​

​

​

​

    

June 30, 2022

    

June 30, 2021

 

Expected volatility

 

123 - 124

%  

123 - 124

%

Expected term

 

6 - 7 years

 

6 years

​

Dividend yield

 

0

%  

0

%

Risk-free interest rates

 

1.5 - 2.9

%  

0.5 - 1.1

%

Schedule of employee and non-employee stock based compensation expense

Employee and non-employee stock-based compensation expense was as follows:

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​

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​

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Three months ended June 30, 

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Six months ended June 30, 

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​

    

2022

    

2021

    

2022

    

2021

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

General and administrative

​

$

910,638

​

$

625,141

​

$

1,768,221

​

$

1,258,261

​

Research and development

​

 

247,266

​

 

87,158

​

 

455,012

​

 

207,000

​

Total

​

$

1,157,904

​

$

712,299

​

$

2,223,233

​

$

1,465,261

​

Schedule of employee and non-employee stock option

The following is a schedule summarizing employee and non-employee stock option activity for the six months ended June 30, 2022:

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Number of

​

Weighted Average

​

Aggregate

​

    

Options

    

Exercise Price

    

Intrinsic Value

Outstanding at December 31, 2021

 

3,793,824

​

$

2.68

 

$

3,104,631

Granted

 

2,563,370

​

 

3.31

 

​

  

Exercised

 

(235,112)

​

 

1.39

 

$

454,156

Expired/Cancelled

 

(85,661)

​

 

3.92

 

​

  

Outstanding at June 30, 2022

 

6,036,421

​

$

2.98

​

$

4,381,251

Exercisable at June 30, 2022

 

1,931,479

​

$

2.31

​

$

2,587,286