Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

The following table summarizes the differences between the statutory federal income tax rate and the Company's effective income tax rate (percent data):

Rate Reconciliation	2022					2023
Net Loss Before Taxes	$	(14,900,703	)			$	(24,994,277	)
Benefit at statutory rate		(3,129,148	)	21.00	%		(5,248,798	)	21.00	%
State tax benefit net of federal benefit		(655,142	)	4.40	%		(1,027,320	)	4.11	%
Permanent book/tax differences		64,106		(0.43	%)		31,046		(0.12	%)
Other adjustments		8,545		(0.06	%)		—		0.00	%
R&D credit carryforward		(512,967	)	3.44	%		(540,777	)	2.16	%
Change in valuation allowance		4,224,606		(28.35	%)		6,785,849		(27.15	%)
Income tax expense/(benefit)	$	—		0.00	%	$	—		0.00	%

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2022 and 2023 are presented below:

	2022			2023
Deferred tax assets:
Federal net operating loss carryforward	$	6,569,874		$	8,403,928
State net operating loss carryforward		1,411,041			1,738,257
Capitalized section 174 R&D expenses		2,121,015			3,872,297
Reserve for credit losses		-			1,330,613
R&D credit		720,165			1,260,942
Accrued expenses		151,255			123,408
Capitalized legal fees for patents		177,405			1,235,488
Stock-based compensation		341,038			566,396
Charitable contributions		65			65
Unrealized gain/loss		59,314			—
ROA asset		530			106
Depreciable assets		47,037			—
Total deferred tax assets		11,598,739			18,531,500
Deferred tax Liabilities:
Unrealized gain/loss	$	—		$	(5,238	)
Depreciable assets		—			(127,474	)
Deferred revenue/costs		—			(14,202	)
Total deferred tax liability		—			(146,914	)
Net deferred tax asset		11,598,739			18,384,586
Less: valuation allowance		(11,598,739	)		(18,384,586	)
Net deferred tax asset (after valuation allowance)	$	—		$	—