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Consolidated Balance Sheets - USD ($)
Dec. 31, 2023
Dec. 31, 2022
Current Assets    
Cash and cash equivalents $ 12,508,251 $ 18,637,114
Accounts receivable, net 18,655 2,649
Contract assets, net 224,414
Inventory, net 296,404 348,411
Prepaid expenses and other 313,115 1,489,921
Total Current Assets 13,360,839 20,478,095
Noncurrent Assets    
Property and equipment, net 38,558 68,513
Intangible assets, net 1,830 1,830
Deposits 14,747 14,747
Operating lease right-of-use asset 356,109 462,874
Total Noncurrent Assets 411,244 547,964
TOTAL ASSETS 13,772,083 21,026,059
Current Liabilities    
Accounts payable and accrued liabilities 624,724 1,207,258
Deferred revenue 499,800 4,338,570
Accrued equity compensation 89,970
Current portion of operating lease liability 126,724 118,235
Total Current Liabilities 1,251,248 5,754,033
Noncurrent Liabilities    
Operating lease liability, net of current portion 259,627 376,851
Total Noncurrent Liabilities 259,627 376,851
TOTAL LIABILITIES 1,510,875 6,130,884
Commitments and Contingencies (Note 10)
SHAREHOLDERS’ EQUITY    
Preferred stock, $0.00001 par value; 25,000,000 shares authorized; 0 shares issued and outstanding
Common stock, $0.00001 par value; 200,000,000 authorized; 8,076,372 and 7,953,974 shares issued and outstanding, respectively 81 80
Additional paid in capital 49,451,419 49,173,836
Accumulated deficit (37,190,292) (34,278,741)
Total Shareholders’ Equity 12,261,208 14,895,175
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 13,772,083 $ 21,026,059