Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Stockholders' Equity (Deficit) (Unaudited)

v3.22.2.2
Condensed Consolidated Statements of Stockholders' Equity (Deficit) (Unaudited) - USD ($)
Preferred Stock [Member]
Convertible Preferred Stock [Member]
Common Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
Total
Beginning balance, value at Dec. 31, 2020 $ 4,044,318 $ 18,724 $ 7,095,355 $ (22,186,942) $ (15,072,863)
Beginning balance, shares at Dec. 31, 2020 756,558 2,674,860      
Stock-based compensation expense   152,837 152,837
Net income (loss) 764,269 764,269
Ending balance, value at Jun. 30, 2021 $ 4,044,318 $ 18,724 7,248,192 (21,422,673) (14,155,757)
Ending balance, shares at Jun. 30, 2021 756,558 2,674,860      
Beginning balance, value at Dec. 31, 2020 $ 4,044,318 $ 18,724 7,095,355 (22,186,942) (15,072,863)
Beginning balance, shares at Dec. 31, 2020 756,558 2,674,860      
Net income (loss)         $ (749,525)
Exercise of stock options, shares         0
Ending balance, value at Sep. 30, 2021 $ 4,044,318 $ 18,730 7,227,880 (22,936,467) $ (15,689,857)
Ending balance, shares at Sep. 30, 2021 756,558 2,675,772      
Beginning balance, value at Jun. 30, 2021 $ 4,044,318 $ 18,724 7,248,192 (21,422,673) (14,155,757)
Beginning balance, shares at Jun. 30, 2021 756,558 2,674,860      
Stock-based compensation expense $ 6 (20,312) (20,306)
Stock-based compensation expense, shares   912      
Net income (loss) (1,513,794) (1,513,794)
Ending balance, value at Sep. 30, 2021 $ 4,044,318 $ 18,730 7,227,880 (22,936,467) (15,689,857)
Ending balance, shares at Sep. 30, 2021 756,558 2,675,772      
Beginning balance, value at Dec. 31, 2021 $ 4,044,318 $ 18,740 12,703,896 (28,513,355) (15,790,719)
Beginning balance, shares at Dec. 31, 2021 756,558 2,677,140      
Stock-based compensation expense $ 121 132,611 132,732
Stock-based compensation expense, shares   17,319      
Beneficial conversion feature for bridge notes 213,942 213,942
Return of capital from stock split (185) (185)
Debt discount for warrants issued 217,973 217,973
Net income (loss) (1,560,072) (1,560,072)
Ending balance, value at Jun. 30, 2022 $ 18,861 13,268,237 (30,073,427) (16,786,329)
Ending balance, shares at Jun. 30, 2022 2,694,459      
Beginning balance, value at Dec. 31, 2021 $ 4,044,318 $ 18,740 12,703,896 (28,513,355) (15,790,719)
Beginning balance, shares at Dec. 31, 2021 756,558 2,677,140      
Net income (loss)         (6,479,530)
Exercise of stock options         $ 75,000
Exercise of stock options, shares         64,848
Ending balance, value at Sep. 30, 2022 $ 58,588 47,532,797 (34,992,885) $ 12,598,500
Ending balance, shares at Sep. 30, 2022 8,369,750      
Beginning balance, value at Jun. 30, 2022 $ 18,861 13,268,237 (30,073,427) (16,786,329)
Beginning balance, shares at Jun. 30, 2022 2,694,459      
Stock-based compensation expense $ 6 79,007 79,013
Stock-based compensation expense, shares   835      
Beneficial conversion feature for bridge notes 134,277 134,277
Debt discount for warrants issued 165,723 165,723
Net income (loss) (4,919,458) (4,919,458)
Common stock issued upon initial public offering, net of underwriters’ commission and offering costs of $1.8 million $ 8,978 6,018,436 6,027,414
Common stock issued upon initial public offering, net of underwriters' commission and offering costs of $1.8 million, shares   1,282,600      
Common stock issued on conversion of convertible preferred stock $ (4,044,318) $ 5,296 4,039,022 4,044,318
Common stock issued on conversion of convertible preferred stock, shares (756,558) 756,558      
Common stock issued on conversion of notes payable $ 17,738 16,047,594 16,065,332
Common stock issued on conversion of notes payable, shares   2,533,964      
Exercise of warrants $ 7,255 7,706,055 7,713,310
Exercise of warrants, shares   1,036,486      
Exercise of stock options $ 454 74,446 74,900
Exercise of stock options, shares   64,848      
Ending balance, value at Sep. 30, 2022 $ 58,588 $ 47,532,797 $ (34,992,885) $ 12,598,500
Ending balance, shares at Sep. 30, 2022 8,369,750