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Stock Compensation Plan (Tables)
6 Months Ended
Jun. 30, 2023
Stock Compensation Plan  
Schedule of company's stock options

 

 

Number of

Options

 

 

Weighted-

Average

Exercise Price

per Share

 

 

Weighted

Average

Remaining

Contractual

Term (in Years)

 

 

Aggregate

Intrinsic

Value

 

Outstanding as of December 31, 2022

 

 

2,901,000

 

 

$1.91

 

 

 

9.4

 

 

$199,500

 

Granted

 

 

-

 

 

$-

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(50,000 )

 

$0.25

 

 

 

 

 

 

 

 

 

Outstanding as of June 30, 2023

 

 

2,851,000

 

 

$1.91

 

 

 

8.9

 

 

$47,700

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable as of June 30, 2023

 

 

1,285,025

 

 

$1.89

 

 

 

8.8

 

 

$26,500

 

Vested or expected to vest as of June 30, 2023

 

 

2,851,000

 

 

$1.91

 

 

 

8.9

 

 

$47,700

 

Schedule of summarizes vesting of restricted common stock

 

 

Number of

Shares

 

 

Weighted

Average Grant

Date Fair Value

Per Share

 

Unvested as of December 31, 2022

 

 

7,000,000

 

 

$1.75

 

Granted

 

 

1,256,750

 

 

$1.80

 

Vested

 

 

(1,389,188 )

 

$1.72

 

Unvested as of June 30, 2023

 

 

6,867,562

 

 

$1.66

 

Schedule of stock-based compensation expense

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

General and administrative

 

$2,281,277

 

 

$187,057

 

 

$4,332,985

 

 

$207,860

 

Research and development

 

 

93,409

 

 

 

23,688

 

 

 

185,800

 

 

 

23,688

 

Total

 

$2,374,686

 

 

$210,745

 

 

$4,518,785

 

 

$231,548