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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Schedule of tax effects of temporary differences that give rise to the deferred tax assets and liabilities | The tax effects of temporary differences that gave rise to significant portions of the deferred tax assets and liabilities were as follows:
| December 31,
| 2021 |  | 2020
Deferred tax assets: |  |  |
Net operating loss carryforwards | $ | 4,983,415 |  |  | $ | 3,199,412 |
Research and development credits | 421,880 |  |  | 326,551 |
Share-based compensation | 249,874 |  |  | 43,526 |
Other accruals | 147,659 |  |  | — |
Gross deferred tax assets | 5,802,828 |  |  | 3,569,489 |
Deferred tax liabilities: |  |  |
Prepaid expenses | (527,181) |  |  | — |
Net deferred tax assets | 5,275,647 |  |  | 3,569,489 |
Less: valuation allowance | (5,275,647) |  |  | (3,569,489) |
| $ | — |  |  | $ | — |
Schedule of effective income tax rate reconciliation | A reconciliation of the federal income tax rate to the Company’s effective tax rate is as follows:
| Year ended December 31,
| 2021 |  | 2020
Federal tax expense/(benefit) at statutory rate | 21.0 | % |  | 21.0 | %
State tax, net of federal benefit | 2.5 |  |  | 11.8 |
Non-taxable partnership income | (7.5) |  |  | (25.5) |
Permanent differences | (0.5) |  |  | (9.2) |
Research and development | 0.9 |  |  | (1.2) |
Other | (0.1) |  |  | — |
Change in valuation allowance | (16.3) |  |  | 3.1 |
| — | % |  | — | %
Summary of operating loss carryforwards | The following table summarizes carryforwards of federal, state and local net operating losses (“NOL”) and research tax credits:
| December 31,
| 2021 |  | 2020
NOL carryforwards—Federal | $ | 14,887,383 |  |  | $ | 8,030,123 |
NOL carryforwards—State | 14,887,383 |  |  | 8,030,123 |
NOL carryforwards—Local | 13,926,879 |  |  | 15,399,777 |
Research tax credits—Federal | 421,880 |  |  | 326,551 |

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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
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- Definition Tabular disclosure of pertinent information, such as tax authority, amounts, and expiration dates, of net operating loss carryforwards, including an assessment of the likelihood of utilization. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32559-109319 + Details
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