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Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Gross sales $ 58,915 $ 0 $ 71,235 $ 0
Discounts and allowances (38,396)   (38,396)  
Net sales 20,519 0 32,839 0
Cost of Goods Sold 4,840 0 5,132 0
Gross Profit 15,679 0 27,707 0
Operating expenses:        
Selling and marketing 120,062 0 131,107 0
Research and development 331,806 1,590,899 865,292 3,154,881
General and administrative 965,622 507,948 2,957,890 1,655,846
Depreciation and amortization of intangible assets 17,978 23,158 65,039 73,533
Restructuring charges 0 726,280 0 726,280
Total operating expenses 1,435,468 2,848,285 4,019,328 5,610,540
Loss from operations (1,419,789) (2,848,285) (3,991,621) (5,610,540)
Other income (expense):        
Other income (expense) 13,145 13,247 41,970 47,327
Interest expense (7,123) (314,124) (21,953) (845,158)
Amortization of debt discount 0 (14,179) (19,549) (22,479)
Loss on forward purchase agreement (1,420,137) (10,592,442) (5,700,451) (10,592,442)
Loss on lease termination (44,577) 0 (44,577) 0
Change in fair value of derivative liabilities 0 4,697,138 0 826,980
Total other income (expense) (1,458,692) (6,210,360) (5,744,560) (10,585,772)
Loss from continuing operations before provision for income taxes (2,878,481) (9,058,645) (9,736,181) (16,196,312)
Provision for income taxes 0 0 0 0
Loss from continuing operations (2,878,481) (9,058,645) (9,736,181) (16,196,312)
Loss from discontinued operations attributable to common shareholders 0 (2,406,124) (1,252,276) (2,406,124)
Gain on sale of discontinued operations attributable to common shareholders 0 0 1,534,479 0
Net loss (2,878,481) (11,464,769) (9,453,978) (18,602,436)
Dividends on Legacy Series A, Legacy Series C-1, and Legacy C-2 preferred stock 0 (49,378) 0 (676,023)
Net loss attributable to common stockholders $ (2,878,481) $ (11,514,147) $ (9,453,978) $ (19,278,459)
Basic        
Net loss from continuing operations - basic $ (0.14) $ (0.49) $ (0.45) $ (2.46)
Discontinued operations, net of tax - basic 0 (0.13) 0.01 (0.35)
Net loss per common share - basic (0.14) (0.62) (0.44) (2.81)
Diluted        
Net loss from continuing operations - diluted (0.14) (0.49) (0.45) (2.46)
Discontinued operations, net of tax - diluted 0 (0.13) 0.01 (0.35)
Net loss per common share - diluted $ (0.14) $ (0.62) $ (0.44) $ (2.81)
Weighted average of shares outstanding , Basic 20,905,407 18,629,730 21,516,291 6,871,258
Weighted average of shares outstanding , Diluted 20,905,407 18,629,730 21,516,291 6,871,258