XML 25 R15.htm IDEA: XBRL DOCUMENT
v3.23.2

Subsequent Events | 6 Months Ended
--- | ---
Jun. 30, 2023
Subsequent Events [Abstract] |
Subsequent Events |
| 9. | SUBSEQUENT EVENTS
Initial Public Offering On July 24, 2023, the Company’s registration statement on Form S-1 relating to its initial public offering of its common stock (“the IPO”) was declared effective by the Securities and Exchange Commission (“SEC”). In the IPO, which closed on July 27, 202 3 , the Company issued and sold 1,412,500 shares of common stock at a public offering price of $4.00 per share. The aggregate net proceeds to the Company from the IPO were approximately $5.0 million after deducting underwriting discounts and commissions of $0.4 million and estimated offering expenses of approximately $0.3 million. Upon the IPO , all outstanding SAFEs were converted into 164,852 shares of common stock. Upon the IPO, all shares of Series B Preferred Stock were converted into 500,000 shares of common stock. Upon the IPO, an aggregate of 852,628 shares of common stock were issued pursuant to option exercises and new common stock issuances to employees and advisors. On the effective date of the IPO, the Company issued an aggregate of 180,000 options to purchase common stock to the board of directors with an exercise price of $4.00 per share. Furthermore, in consideration for serving as a member of the board of directors, each director shall be paid a cash fee of $8,000 per fiscal quarter with the chairmen of the Audit Committee, Compensation Committee, and Nominating and Corporate Governance Committee to receive an additional $9,000, $3,500, and $1,500, respectively, each fiscal quarter, which begins accruing upon the IPO.

X
- References No definition available. + Details
Name: | us-gaap_SubsequentEventsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483399/855-10-50-2 + Details
Name: | us-gaap_SubsequentEventsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration