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Condensed Balance Sheets - USD ($)
Jun. 30, 2023
Dec. 31, 2022
Current assets    
Cash $ 9,222,647 $ 25,752,659
Inventories 1,171,900
Prepaid expenses and other current assets 685,413 469,232
Receivable from related parties, net 325,052 35,850
Total current assets 11,405,012 26,257,741
Prepaid expenses, long-term 55,499 38,617
Property and equipment, net 14,120 14,089
Deferred offering costs 366,113
Intangible asset 17,906,771
Total assets 29,747,515 26,310,447
Current liabilities    
Accounts payable 2,076,706 1,499,296
Accrued expenses 1,419,809 2,409,128
Notes payable, net of debt discount of $376,487 8,623,513
Contingent warrant liability 14,080 14,021
Total current liabilities 12,134,108 3,922,445
Note payable, net of current maturities and debt discount of $462,518 4,537,482
Total liabilities 16,671,590 3,922,445
Commitments and Contingencies (see Note 9)
Stockholders’ equity    
Preferred stock, $0.00001 par value, 10,000,000 shares authorized at June 30, 2023 and December 31, 2022; 0 shares issued and outstanding at June 30, 2023 and December 31, 2022
Common stock, $0.00001 par value, 250,000,000 shares authorized at June 30, 2023 and December 31, 2022; 16,930,457 and 15,724,957 shares issued at June 30, 2023 and December 31, 2022, respectively; 16,413,058 and 15,265,228 shares outstanding at June 30, 2023 and December 31, 2022, respectively 169 157
Additional paid-in-capital 42,789,961 42,331,155
Treasury stock, at cost; 517,399 and 459,729 shares of common stock at June 30, 2023 and December 31, 2022, respectively (625,791) (566,810)
Accumulated deficit (29,088,414) (19,376,500)
Total stockholders’ equity 13,075,925 22,388,002
Total liabilities and stockholders’ equity $ 29,747,515 $ 26,310,447