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Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenue        
Total revenue $ 699,022 $ 196,149 $ 2,348,601
Operating expenses        
Cost of products sold 618,796 31,636 1,925,566
Cost of services 73,174 1,575 405,582
Research and development, net 488 1,201,865 49,308 4,403,488
General and administrative 768,551 2,034,628 4,021,321 6,883,588
Sales and marketing 14,846 336,184 168,819 2,522,471
Total operating expenses 783,885 4,264,647 4,272,659 16,140,695
Operating loss (783,885) (3,565,625) (4,076,510) (13,792,094)
Other income (expense)        
Interest and other income 92,131 24,977 242,799 86,301
Interest expense (3,238) (396,768) (4,317) (1,698,564)
Gain on impairment adjustment 2,079,575
Gain on extinguishment of debt 9,738,487 9,738,487
Gain on settlement of compensation expenses 570,785 570,785
Foreign currency transaction (losses) gains (2) (135,930) 463 (288,326)
Change in fair value of derivative financial instruments 10,389 65,800
Change in fair value of EIB loan guaranty (683,200) (908,586)
Total other income (expense) 9,714,963 (497,332) 11,719,206 (1,834,789)
Income (loss) before income taxes 8,931,078 (4,062,957) 7,642,696 (15,626,883)
Provision for income taxes
Net income (loss) 8,931,078 (4,062,957) 7,642,696 (15,626,883)
Net income (loss) allocated to preferred stockholders – basic (690,467) (519,161)
Net income (loss) available to common stockholders – basic 8,240,611 (4,062,957) 7,123,535 (15,626,883)
Net income (loss) 8,931,078 (4,062,957) 7,642,696 (15,626,883)
Net income (loss) allocated to preferred stockholders – diluted
Net income (loss) available to common stockholders – diluted $ 8,931,078 $ (4,062,957) $ 7,642,696 $ (15,626,883)
Earnings (loss) per share attributable to common stockholders        
Basic $ 1.43 $ (4.63) $ 2.51 $ (23.80)
Diluted $ 1.35 $ (4.63) $ 2.14 $ (23.80)
Weighted average shares outstanding        
Basic 5,760,214 877,815 2,837,744 656,585
Diluted 6,603,804 877,815 3,571,505 656,585
Other comprehensive income – foreign currency translation $ 78,815 $ 118,178
Comprehensive income (loss) 8,931,078 (3,984,142) 7,642,696 (15,508,705)
Product [Member]        
Revenue        
Total revenue 558,965 169,373 1,409,534
Service [Member]        
Revenue        
Total revenue 47,135 26,776 112,810
Collaborations Revenue [Member]        
Revenue        
Total revenue $ 92,922 $ 826,257