CAPITAL STRUCTURE (Tables)

9 Months Ended

Sep. 30, 2023

Equity [Abstract]

Schedule of option activity

	Shares Underlying Options		Weighted Average Exercise Price		Weighted Average Contractual Life (Years)		Intrinsic Value
Outstanding at December 31, 2022		–		–
Granted		1,457,500	$	2.20		8.53	$	–
Forfeited		–		–
Exercised		–		–
Outstanding at September 30, 2023		1,457,500	$	2.20		7.86	$	–

Schedule of options assumptions

	For the nine months ended September 30, 2023
Expected term, in years	5.38
Expected volatility	79.35%
Risk-free interest rate	3.66%
Dividend yield	–

Schedule of warrant outstanding

Warrant

$

0.0001

$

1.00

$

1.25

$

1.50

$

1.65

$

1.90

$

2.00

$

2.50

$

3.00

$

5.00

contract

# Shares

$

2.97

$

4.45

$

5.94

$

8.91

$

14.84

Coral Investment Partners Warrants

1,000,000

–

–

–

–

–

–

500,000

–

–

500,000

Coral Investment Partners Warrants, as converted

336,869

–

–

–

–

–

–

168,434

–

–

168,434

Warrant Holder 1

1,500,000

–

500,000

–

–

–

–

500,000

–

–

500,000

July 28, 2022

(2,500

)

–

(2,500

)

–

–

–

–

–

–

–

–

1,497,500

–

497,500

–

–

–

–

500,000

–

–

500,000

Warrant Holder 1, as converted

504,461

–

167,592

–

–

–

–

168,434

–

–

168,434

Warrant Holder 2

400,000

–

200,000

–

–

–

–

100,000

–

–

100,000

March 1, 2022

(5,000

)

–

(5,000

)

–

–

–

–

–

–

–

–

June 27, 2022

(270,000

)

–

(195,000

)

–

–

–

–

(75,000

)

–

–

–

Expired – September 13, 2022

(25,000

)

–

–

–

–

–

–

(25,000

)

–

–

–

100,000

–

–

–

–

–

–

–

–

–

100,000

Warrant Holder 2, as converted

33,687

–

–

–

–

–

–

–

–

–

33,687

Purple BioTech

300,000

–

–

–

–

–

–

–

–

–

300,000

Purple BioTech, as converted

101,061

–

–

–

–

–

–

–

–

–

101,061

Warrant Holder 3

600,000

–

600,000

–

–

–

–

–

–

–

–

Transfer to Warrant Holder 4

(300,000

)

–

(300,000

)

–

–

–

–

–

–

–

–

Transfer to Warrant Holder 5

(175,000

)

–

(175,000

)

–

–

–

–

–

–

–

–

August 19, 2022

(115,000

)

–

(115,000

)

–

–

–

–

–

–

–

–

Expired – September 13, 2022

(10,000

)

–

(10,000

)

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

Warrant Holder 3, as converted

–

–

–

–

–

–

–

–

–

–

–

Warrant Holder 4

Transfer from Warrant Holder 3

300,000

–

300,000

–

–

–

–

–

–

–

–

August 19, 2022

(300,000

)

–

(300,000

)

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

Warrant Holder 4, as converted

–

–

–

–

–

–

–

–

–

–

–

Warrant

$

0.0001

$

1.00

$

1.25

$

1.50

$

1.65

$

1.90

$

2.00

$

2.50

$

3.00

$

5.00

contract

# Shares

$

2.97

$

4.45

$

5.94

$

8.91

$

14.84

Warrant Holder 5

Transfer from Warrant Holder 3

175,000

–

175,000

–

–

–

–

–

–

–

–

Transfer from Warrant Holder 9

200,000

–

–

–

200,000

–

–

–

–

–

–

375,000

–

175,000

–

200,000

–

–

–

–

–

–

Warrant Holder 5, as converted

126,326

–

58,952

–

67,374

–

–

–

–

–

–

Warrant Holder 6

250,000

–

–

–

250,000

–

–

–

–

–

–

Warrant Holder 6, as converted

84,217

–

–

–

84,217

–

–

–

–

–

–

Warrant Holder 7

400,000

–

–

–

400,000

–

–

–

–

–

–

Warrant Holder 7, as converted

134,747

–

–

–

134,747

–

–

–

–

–

–

Warrant Holder 8

775,000

–

–

–

775,000

–

–

–

–

–

–

September 14, 2022

(775,000

)

–

–

–

(775,000

)

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

Warrant Holder 8, as converted

–

–

–

–

–

–

–

–

–

–

–

Warrant Holder 9

200,000

–

–

–

200,000

–

–

–

–

–

–

Transfer to Warrant Holder 5

(200,000

)

–

–

–

(200,000

)

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

Warrant Holder 9, as converted

–

–

–

–

–

–

–

–

–

–

–

Warrant Holder 10

350,000

–

–

–

350,000

–

–

–

–

–

–

March 1, 2022

(53,334

)

–

–

–

(53,334

)

–

–

–

–

–

–

August 19, 2022

(50,000

)

–

–

–

(50,000

)

–

–

–

–

–

–

September 14, 2022

(246,666

)

–

–

–

(246,666

)

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

Warrant Holder 10, as converted

–

–

–

–

–

–

–

–

–

–

–

Warrant Holder 11

300,000

–

150,000

–

–

–

–

150,000

–

–

–

April 14, 2022

170,000

–

–

–

170,000

–

–

–

–

–

–

470,000

–

150,000

–

170,000

–

–

150,000

–

–

–

Warrant Holder 11, as converted

158,328

–

50,530

–

57,268

–

–

50,530

–

–

–

Warrant

$

0.0001

$

1.00

$

1.25

$

1.50

$

1.65

$

1.90

$

2.00

$

2.50

$

3.00

$

5.00

contract

# Shares

$

2.97

$

4.45

$

5.94

$

8.91

$

14.84

Warrant Holder 12

1,018,050

–

–

–

1,018,050

–

–

–

–

–

–

August 19, 2022

(100,000

)

–

–

–

(100,000

)

–

–

–

–

–

–

September 14, 2022

(918,050

)

–

–

–

(918,050

)

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

Warrant Holder 12, as converted

–

–

–

–

–

–

–

–

–

–

–

Warrant Holder 13

225,000

–

–

–

225,000

–

–

–

–

–

–

March 1, 2022

(15,000

)

–

–

–

(15,000

)

–

–

–

–

–

–

September 14, 2022

(210,000

)

–

–

–

(210,000

)

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

Warrant Holder 13, as converted

–

–

–

–

–

–

–

–

–

–

–

Warrant Holder 14

100,000

–

100,000

–

–

–

–

–

–

–

–

August 19, 2022

(100,000

)

–

(100,000

)

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

Warrant Holder 14, as converted

–

–

–

–

–

–

–

–

–

–

–

Warrant Holder 15

100,000

–

–

–

100,000

–

–

–

–

–

–

September 14, 2022

(100,000

)

–

–

–

(100,000

)

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

Warrant Holder 15, as converted

–

–

–

–

–

–

–

–

–

–

–

Warrant Holder 16

100,000

–

–

–

100,000

–

–

–

–

–

–

June 27, 2022

(25,000

)

–

–

–

(25,000

)

–

–

–

–

–

–

September 14, 2022

(75,000

)

–

–

–

(75,000

)

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

Warrant Holder 16, as converted

–

–

–

–

–

–

–

–

–

–

–

Warrant Holder 17

52,050

–

–

–

52,050

–

–

–

–

–

–

September 14, 2022

(52,050

)

–

–

–

(52,050

)

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

Warrant Holder 17, as converted

–

–

–

–

–

–

–

–

–

–

–

Warrant

$

0.0001

$

1.00

$

1.25

$

1.50

$

1.65

$

1.90

$

2.00

$

2.50

$

3.00

$

5.00

contract

# Shares

$

2.97

$

4.45

$

5.94

$

8.91

$

14.84

Warrant Holder 18

250,000

–

–

–

–

–

–

–

–

250,000

–

Warrant Holder 18, as converted

84,217

–

–

–

–

–

–

–

–

84,217

–

Warrant Holder 19

300,000

–

–

–

300,000

–

–

–

–

–

–

(300,000

)

–

–

–

(300,000

)

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

Warrant Holder 19, as converted

–

–

–

–

–

–

–

–

–

–

–

Warrant Holder 20

–

–

–

–

–

–

–

–

–

–

–

January 3, 2023

100,000

–

–

–

–

–

–

–

100,000

–

–

Warrant Holder 20

100,000

–

–

–

–

–

–

–

100,000

–

–

Warrant Holder 21

–

–

–

–

–

–

–

–

–

–

–

January 20, 2023

250,000

–

–

–

–

–

250,000

–

–

–

–

Warrant Holder 21

250,000

–

–

–

–

–

250,000

–

–

–

–

Pre-Funded Warrant

1,350,000

1,350,000

–

–

–

–

–

–

–

–

–

June 21, 2023

(605,000

)

(605,000

)

–

–

–

–

–

–

–

–

–

Pre-Funded Warrant

745,000

745,000

–

–

–

–

–

–

–

–

–

Series A – Warrant

–

–

–

–

–

–

–

–

–

–

–

June 16, 2023

3,062,500

–

–

–

–

3,062,500

–

–

–

–

–

Series A – Warrant

3,062,500

–

–

–

–

3,062,500

–

–

–

–

–

Series B – Warrant

–

–

–

–

–

–

–

–

–

–

–

June 16, 2023

3,062,500

–

–

–

–

3,062,500

–

–

–

–

–

Series B – Warrant

3,062,500

–

–

–

–

3,062,500

–

–

–

–

–

Warrant Holder 25

–

–

–

–

–

–

–

–

–

–

–

June 16, 2023

126,000

–

–

126,000

–

–

250,000

–

–

–

–

Warrant Holder 22

126,000

–

–

126,000

–

–

250,000

–

–

–

–

Warrant		$	0.0001	$	1.00	$	1.25	$	1.50	$	1.65	$	1.90	$	2.00	$	2.50	$	3.00	$	5.00
contract	# Shares			$	2.97			$	4.45					$	5.94			$	8.91	$	14.84
Warrant Holder 26	–		–		–		–		–		–		–		–		–		–		–
June 16, 2023	84,000		–		–		84,000		–		–		250,000		–		–		–		–
Warrant Holder 23	84,000		–		–		84,000		–		–		250,000		–		–		–		–
Total warrants outstanding for purchase of shares:	12,072,500		745,000		822,500		210,000		1,020,000		6,125,000		250,000		1,150,000		100,000		250,000		1,400,000
Total warrants outstanding for purchase of shares, as converted:	8,993,912		745,000		277,074		210,000		343,606		6,125,000		250,000		387,399		100,000		84,217		471,616