XML 30 R18.htm IDEA: XBRL DOCUMENT
v3.25.1

Accrued Expenses | 12 Months Ended
--- | ---
Dec. 31, 2024
Payables and Accruals [Abstract] |
Accrued Expenses | Note 8 – Accrued Expenses As of December 31, 2024 and 2023, the Company had accrued expenses consisting of the following: Schedule of Accrued Expenses
|  | December 31, 2024 |  |  | December 31, 2023 |
Accrued compensation |  | $ | 3,907,091 |  |  | $ | 712,092 |
Accounts payable and accrued expenses |  |  | 70,444 |  |  |  | 55,058 |
Accrued Expenses |  | $ | 3,977,535 |  |  | $ | 767,150 |
Accrued compensation and related expenses include approximately $3,907,000 and $710,000 related to performance bonus accruals as of December 31, 2024 and 2023, respectively. The accrued compensation balance for 2024 reflects stock-based compensation expenses associated with the performance bonuses approved by the Board on January 1, 2025 as well as discretionary bonuses accrued for non-officer employees. While the total bonus amounts for officers approved for fiscal year 2024 were $1,916,909 (as disclosed in Note 7 – Executive Compensation), the portion allocated to incentive stock options was recognized at a higher expense for accounting purposes, as required under U.S. GAAP. The stock-based compensation charges for the options component were determined using the Black-Scholes valuation model, resulting in a higher accrued amount.

X
- Definition The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(20)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(24)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 720 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483384/720-30-45-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(19)(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
Name: | us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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