XML 15 R5.htm IDEA: XBRL DOCUMENT v3.23.2
Consolidated Statements of Convertible Preferred Stock and Stockholders' Deficit (Unaudited) - USD ($)
Total
January 2023 PIPE
Arena purchase agreement
Series A Convertible Preferred Stock
Convertible Preferred Stock
Common Stock
Common Stock
January 2023 PIPE
Common Stock
Arena purchase agreement
Additional Paid-in Capital
Additional Paid-in Capital
January 2023 PIPE
Additional Paid-in Capital
Arena purchase agreement
Accumulated Deficit
Beginning Balance at Dec. 31, 2021         $ 20,857,453              
Beginning Balance, Shares at Dec. 31, 2021         13,802,758              
Beginning Balance at Dec. 31, 2021 $ (14,686,247)         $ 31     $ 2,213,547     $ (16,899,825)
Beginning Balance, Shares at Dec. 31, 2021           308,443            
Issuance of common stock upon exercise of stock options 429,430         $ 74     429,356      
Common stock exercised           735,859            
Stock-based compensation expense 42,556               42,556      
Net loss (2,879,395)                     (2,879,395)
Ending Balance at Mar. 31, 2022         $ 20,857,453              
Ending Balance, Shares at Mar. 31, 2022         13,802,758              
Ending Balance at Mar. 31, 2022 (17,093,656)         $ 105     2,685,459     (19,779,220)
Ending Balance, Shares at Mar. 31, 2022           1,044,302            
Beginning Balance at Dec. 31, 2021         $ 20,857,453              
Beginning Balance, Shares at Dec. 31, 2021         13,802,758              
Beginning Balance at Dec. 31, 2021 (14,686,247)         $ 31     2,213,547     (16,899,825)
Beginning Balance, Shares at Dec. 31, 2021           308,443            
Net loss (11,964,663)                      
Ending Balance at Jun. 30, 2022       $ 4,345,022                
Ending Balance, Shares at Jun. 30, 2022       4,305                
Ending Balance at Jun. 30, 2022 (1,792,079)         $ 1,594     27,070,815     (28,864,488)
Ending Balance, Shares at Jun. 30, 2022           15,937,185            
Beginning Balance at Mar. 31, 2022         $ 20,857,453              
Beginning Balance, Shares at Mar. 31, 2022         13,802,758              
Beginning Balance at Mar. 31, 2022 (17,093,656)         $ 105     2,685,459     (19,779,220)
Beginning Balance, Shares at Mar. 31, 2022           1,044,302            
Issuance of common stock upon exercise of stock options, net of shares withheld to settle tax withholding requirements 230,071         $ 68     230,003      
Issuance of common stock upon exercise of stock options, net of shares withheld to settle tax withholding requirements, Shares           679,265            
Conversion of convertible preferred stock, Temporary equity values         $ (20,857,453)              
Conversion of convertible preferred stock, Temporary equity shares         (13,802,758)              
Conversion of convertible preferred stock, Value 20,857,453         $ 1,064     20,856,389      
Conversion of convertible preferred stock, Shares           10,643,403            
Issuance of common stock in connection with the Transaction and Maxim Private Placement, net of redemptions, net tangible assets, and issuance costs, Value 3,443,750         $ 357     3,443,393      
Issuance of common stock in connection with the Transaction and Maxim Private Placement, net of redemptions, net tangible assets, and issuance costs, Shares           3,570,215            
Issuance of convertible preferred stock, net of issuance costs       $ 4,143,854                
Issuance of convertible preferred stock, net of issuance costs, Shares       4,305                
Accretion of convertible preferred stock to redemption value       $ 201,168                
Accretion of convertible preferred stock to redemption value (201,168)               (201,168)      
Stock-based compensation expense 56,739               56,739      
Net loss (9,085,268)                     (9,085,268)
Ending Balance at Jun. 30, 2022       $ 4,345,022                
Ending Balance, Shares at Jun. 30, 2022       4,305                
Ending Balance at Jun. 30, 2022 (1,792,079)         $ 1,594     27,070,815     (28,864,488)
Ending Balance, Shares at Jun. 30, 2022           15,937,185            
Beginning Balance at Dec. 31, 2022       $ 4,517,710                
Beginning Balance, Shares at Dec. 31, 2022       4,305                
Beginning Balance at Dec. 31, 2022 (6,247,088)         $ 1,671     28,655,164     (34,903,923)
Beginning Balance, Shares at Dec. 31, 2022           16,709,221            
Issuance of common stock   $ 3,200,449 $ 49,158       $ 240 $ 4   $ 3,200,209 $ 49,154  
Issuance of common stock, shares             2,406,242 37,230        
Accretion of convertible preferred stock to redemption value       $ 86,816                
Accretion of convertible preferred stock to redemption value (86,816)               (86,816)      
Stock-based compensation expense 300,765               300,765      
Net loss (2,481,312)                     (2,481,312)
Ending Balance at Mar. 31, 2023       $ 4,604,526                
Ending Balance, Shares at Mar. 31, 2023       4,305                
Ending Balance at Mar. 31, 2023 (5,264,844)         $ 1,915     32,118,476     (37,385,235)
Ending Balance, Shares at Mar. 31, 2023           19,152,693            
Beginning Balance at Dec. 31, 2022       $ 4,517,710                
Beginning Balance, Shares at Dec. 31, 2022       4,305                
Beginning Balance at Dec. 31, 2022 $ (6,247,088)         $ 1,671     28,655,164     (34,903,923)
Beginning Balance, Shares at Dec. 31, 2022           16,709,221            
Common stock exercised 2,445                      
Net loss $ (3,892,932)                      
Ending Balance at Jun. 30, 2023       $ 4,690,398                
Ending Balance, Shares at Jun. 30, 2023       4,305                
Ending Balance at Jun. 30, 2023 (6,350,362)         $ 1,915     32,444,578     (38,796,855)
Ending Balance, Shares at Jun. 30, 2023           19,155,138            
Beginning Balance at Mar. 31, 2023       $ 4,604,526                
Beginning Balance, Shares at Mar. 31, 2023       4,305                
Beginning Balance at Mar. 31, 2023 (5,264,844)         $ 1,915     32,118,476     (37,385,235)
Beginning Balance, Shares at Mar. 31, 2023           19,152,693            
Issuance of common stock upon exercise of stock options 1,443               1,443      
Common stock exercised           2,445            
Accretion of convertible preferred stock to redemption value       $ 85,872                
Accretion of convertible preferred stock to redemption value (85,872)               (85,872)      
Conversion of Private Warrants to Public Warrants 131,562               131,562      
Stock-based compensation expense 278,969               278,969      
Net loss (1,411,620)                     (1,411,620)
Ending Balance at Jun. 30, 2023       $ 4,690,398                
Ending Balance, Shares at Jun. 30, 2023       4,305                
Ending Balance at Jun. 30, 2023 $ (6,350,362)         $ 1,915     $ 32,444,578     $ (38,796,855)
Ending Balance, Shares at Jun. 30, 2023           19,155,138