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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash Flows from Operating Activities    
Net loss $ (2,858,818) $ (2,306,420)
Adjustment to reconcile net loss to net cash used in operating activities:    
Depreciation 58,718 64,543
Unrealized gain on marketable securities (54,266)
Realized loss on marketable securities 106,324  
Loss on extinguishment of notes 934,257
Stock-based compensation 189,905 218,944
Change in fair value of convertible notes 195,962
Non-cash lease expense 100,291
Changes in operating assets and liabilities:    
Accounts receivable, net 1,200 (25)
Other receivables (25,035) 73,851
Prepaid expenses (36,775) (270,150)
Inventory (22,749) (5,704)
Other assets (77,271)
Accounts payable (287,791) (94,674)
Accrued expenses (7,304) 166,445
Net cash used in operating activities (2,913,571) (1,022,971)
Cash Flows from Investing Activities    
Purchases of lab equipment (29,657) (5,250)
Purchases of marketable securities (2,500,517)
Sales of marketable securities 5,882,138
Net cash provided by (used in) investing activities 3,351,964 (5,250)
Cash Flows from Financing Activities    
Proceeds from issuance of units, gross 13,009,621
Proceeds from issuance of common stock to underwriters, gross 801,362
Payment for issuance costs of units and common stock (1,558,193)
Proceeds from issuance of convertible notes 250,000
Settlement of convertible notes (141,884)
Proceeds from loan payable – related party 140,000
Payment of loan payable – related party (166,000)
Net cash provided by financing activities 12,334,906
Net increase (decrease) in cash and cash equivalents 438,393 11,306,685
Cash and cash equivalents, beginning of period 4,015,128
Cash and cash equivalents, end of period 4,453,521 11,306,685
Non-cash investing activities    
Right-of-use asset acquired through operating lease 1,257,495
Leasehold improvements financed through tenant improvement allowance 312,760
Conversion of notes at initial public offering into common stock 3,222,206
Issuance costs in accounts payable 68,982
Fair value of warrants for common stock issued to underwriters 1,647,076
Conversion of preferred stock par value to common stock and additional paid-in capital $ 58