XML 53 R22.htm IDEA: XBRL DOCUMENT v3.22.1
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2021
Accounting Policies [Abstract]  
Schedule of Cash and Cash Equivalents The following table presents the Company’s cash, cash equivalents, and restricted cash as of December 31, 2021 and 2020:
December 31,
20212020
Cash and cash equivalents$49,635,197 $290,670 
Restricted cash50,389 50,367 
Total cash, cash equivalents and restricted cash$49,685,586 $341,037 
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share The following potentially dilutive securities have been excluded from the computation of diluted weighted-average shares of common stock outstanding for the years ended December 31, 2021 and 2020, as they would be anti-dilutive:
December 31,
20212020
Stock options506,691 24,830 
Unvested restricted stock units— 45 
Warrants5,500,000 160,108 
6,006,691 184,983 
Schedule of Basic and Diluted Earnings Per Share The two-class method was more dilutive for the year ended December 31, 2020.
Years Ended
December 31, 2021December 31, 2020
Basic net (loss) income per common share calculation:
Net (loss) income attributable to common shareholders
$(10,456,870)$6,644,465 
Less: undistributed earnings to participating securities
— (5,573,558)
Net (loss) income attributable to common shareholders - basic
$(10,456,870)$1,070,907 
Weighted average common shares outstanding - basic
2,833,674 348,368 
Net (loss) income per share - basic
$(3.69)$3.07 
Diluted net (loss) income per common share calculation:
Net (loss) income attributable to common shareholders
$(10,456,870)$6,644,465 
Less: undistributed earnings to participating securities
— (5,573,558)
Less: change in fair value of convertible promissory notes and interest expense
— (9,216,633)
Net (loss) income attributable to common shareholders – diluted
$(10,456,870)$(8,145,726)
Weighted average common shares outstanding - basic
2,833,674 348,368 
Convertible securities
— 1,706,507 
Weighted average common shares outstanding - diluted
2,833,674 2,054,875 
Net (loss) income per share - diluted
$(3.69)$(3.96)