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Note 12 - Restatement of Previously Issued (Unaudited) Interim Financial Statements (Tables)

6 Months Ended

Jun. 30, 2024

Notes Tables

Schedule of Error Corrections and Prior Period Adjustments [Table Text Block]

		June 30, 2023
		As reported				Adjusted				As restated
Deferred offering costs		$	-			$	1,059,768			$	1,059,768
Accumulated deficit		$	(55,288,521	)		$	1,059,768			$	(54,228,753	)
Total assets		$	2,304,448			$	1,059,768			$	3,364,216
Total liabilities		$	14,188,409			$	—			$	14,188,409
Total convertible preferred stock		$	24,287,211			$	—			$	24,287,211
Total stockholders’ equity (deficit)		$	(36,171,172	)		$	1,059,768			$	(35,111,404	)

		Six Months Ended June 30, 2023
		As reported				Adjusted				As restated
General and administrative expense		$	3,053,234			$	(1,059,768	)		$	1,993,466
Total operating expenses		$	6,844,896			$	(1,059,768	)		$	5,785,128
Loss from operations		$	(3,717,084	)		$	1,059,768			$	(2,657,316	)
Net loss		$	(3,019,605	)		$	1,059,768			$	(1,959,837	)
Net loss per share of common stock, basic and diluted		$	(5.83	)		$	2.05			$	(3.78	)

		Three Months Ended June 30, 2023
		As reported				Adjusted				As restated
General and administrative expense		$	1,414,303			$	(421,750	)		$	992,553
Total operating expenses		$	3,372,691			$	(421,750	)		$	2,950,941
Loss from operations		$	(1,652,747	)		$	421,750			$	(1,230,997	)
Net loss		$	(1,847,251	)		$	421,750			$	(1,425,501	)
Net loss per share of common stock, basic and diluted		$	(3.57	)		$	0.82			$	(2.75	)

X

- Definition

Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-7

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

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X

- References

No definition available.

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