Going Concern and Managements Liquidity Plans	12 Months Ended
Dec. 31, 2024
Substantial Doubt About Going Concern [Abstract]
Going Concern and Managements Liquidity Plans	NOTE 4 – GOING CONCERN AND MANAGEMENT’S LIQUIDITY PLANS The Company had negative net working capital of $4,921,151 as of December 31, 2024 and positive working capital of $951,495 as of December 31, 2023, excluding assets and liabilities available for sale. The Company’s liquidity needs up to December 31, 2024 have been satisfied through debt and equity financing. The Company had a net loss from continuing operations of $10,650,464 and $16,205,252 for the years ended December 31, 2024 and 2023, respectively. The Company had negative cash flows from operations of $4,388,948 and $8,348,208 for the years ended December 31, 2024 and 2023, respectively, and an accumulated deficit of $68,871,662 and $58,503,401 as of December 31, 2024 and 2023, respectively. Due to its current and other potential liabilities, the cash available to the Company may not be sufficient to allow the Company to operate for at least 12 months from the date these financial statements are available for issuance. The Company may need to raise additional capital through equity or debt issuances. If the Company is unable to raise additional capital, it may be required to take additional measures to conserve liquidity, which could include, but not necessarily be limited to, curtailing operations and reducing payroll expenses. The Company cannot provide any assurance that any new financing will be available to it on commercially acceptable terms, if at all. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. These financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should the Company be unable to continue as a going concern. As more fully described in Note 17, the Company closed an offering of Common Stock and Common Stock warrants on January 2, 2025, resulting in gross proceeds to the Company of $1,851,849. The Common Stock warrants, if exercised for cash, will result in up to $1,851,849 in additional gross proceeds to the Company. In addition, the Company closed on the acquisition of the operating assets of Elevai Skincare on January 16, 2025, as more fully described in Note 17. Elevai Skincare’s skincare and haircare products generated revenue of approximately $2,500,000 in 2024. In addition, the Company has refocused its research and development efforts on cosmetic skincare products that have near-term commercial potential, reprioritized research and development, and ceased clinical studies of product candidates that will take more than a year to commercialize. The Company is also exploring the out-licensing of certain research and development programs to enhance its liquidity. In the third quarter of 2023 and the first quarter of 2024, the Company significantly reduced its operating expenses going forward by terminating certain executives serving as part-time consultants and full-time employees in non-core areas or overlapping business functions. In addition, the company terminated a lease on redundant facility space in August 2024.

Going Concern and Managements Liquidity Plans

12 Months Ended

Dec. 31, 2024

Substantial Doubt About Going Concern [Abstract]

Going Concern and Managements Liquidity Plans

NOTE 4 – GOING CONCERN AND MANAGEMENT’S LIQUIDITY PLANS

The Company had negative net working capital of $4,921,151 as of December 31, 2024 and positive working capital of $951,495 as of December 31, 2023, excluding assets and liabilities available for sale. The Company’s liquidity needs up to December 31, 2024 have been satisfied through debt and equity financing.

The Company had a net loss from continuing operations of $10,650,464 and $16,205,252 for the years ended December 31, 2024 and 2023, respectively. The Company had negative cash flows from operations of $4,388,948 and $8,348,208 for the years ended December 31, 2024 and 2023, respectively, and an accumulated deficit of $68,871,662 and $58,503,401 as of December 31, 2024 and 2023, respectively.

Due to its current and other potential liabilities, the cash available to the Company may not be sufficient to allow the Company to operate for at least 12 months from the date these financial statements are available for issuance. The Company may need to raise additional capital through equity or debt issuances. If the Company is unable to raise additional capital, it may be required to take additional measures to conserve liquidity, which could include, but not necessarily be limited to, curtailing operations and reducing payroll expenses. The Company cannot provide any assurance that any new financing will be available to it on commercially acceptable terms, if at all.

These conditions raise substantial doubt about the Company’s ability to continue as a going concern. These financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should the Company be unable to continue as a going concern.

As more fully described in Note 17, the Company closed an offering of Common Stock and Common Stock warrants on January 2, 2025, resulting in gross proceeds to the Company of $1,851,849. The Common Stock warrants, if exercised for cash, will result in up to $1,851,849 in additional gross proceeds to the Company. In addition, the Company closed on the acquisition of the operating assets of Elevai Skincare on January 16, 2025, as more fully described in Note 17. Elevai Skincare’s skincare and haircare products generated revenue of approximately $2,500,000 in 2024.

In addition, the Company has refocused its research and development efforts on cosmetic skincare products that have near-term commercial potential, reprioritized research and development, and ceased clinical studies of product candidates that will take more than a year to commercialize. The Company is also exploring the out-licensing of certain research and development programs to enhance its liquidity. In the third quarter of 2023 and the first quarter of 2024, the Company significantly reduced its operating expenses going

forward by terminating certain executives serving as part-time consultants and full-time employees in non-core areas or overlapping business functions. In addition, the company terminated a lease on redundant facility space in August 2024.