XML 57 R34.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Income Taxes [Abstract] |
Schedule of Domestic and International Pre-Tax Loss | Domestic and international pre-tax loss consists of the following:
|  | December 31, |
|  | 2024 |  |  | 2023 |
United States |  |  | (29,252,284 | ) |  |  | (22,812,381 | )
International |  |  | - |  |  |  | 1,150 |
Loss before income taxes |  |  | (29,252,284 | ) |  |  | (22,811,231 | )
Schedule of Federal Statutory Income Tax Rate | Income tax expense differed from the amount computed by applying the federal statutory income tax rate of 21% to pretax income for the years ended December 31, 2024 and 2023 as a result of the following:
|  | December 31, |
|  | 2024 |  |  | 2023 |
Federal tax at statutory rate |  | $ | (6,142,980 | ) |  | $ | (4,790,600 | )
State income taxes |  |  | (218,456 | ) |  |  | (815,249 | )
Stock based compensation |  |  | 180,319 |  |  |  | 276,371 |
Foreign taxes |  |  | - |  |  |  | - |
Tax credits |  |  | (1,039,015 | ) |  |  | (1,071,338 | )
Nondeductible items |  |  | 26,970 |  |  |  | (142,058 | )
Valuation allowance |  |  | 5,327,801 |  |  |  | 5,517,860 |
Deferred true up |  |  | 1,165,581 |  |  |  | 1,320,182 |
Rate change |  |  | 717,809 |  |  |  | (247,773 | )
Other items |  |  | (18,029 | ) |  |  | (47,395 | )
Total |  | $ | - |  |  | $ | - |
Schedule of Deferred Tax Assets and Liabilities | Significant components of our deferred tax assets and liabilities as of December 31, 2024 and 2023 are as following:
|  | December 31, |
|  | 2024 |  |  | 2023 |
Deferred tax assets: |  |  |  |  |  |
Net operating loss carryforwards |  | $ | 36,178,997 |  |  | $ | 32,935,845 |
Research and development credits |  |  | 7,006,591 |  |  |  | 5,938,775 |
Intangibles |  |  | 880,481 |  |  |  | 1,192,900 |
Fixed assets |  |  | (181,103 | ) |  |  | 67,200 |
Stock based compensation |  |  | 452,339 |  |  |  | 410,323 |
Accruals and reserves |  |  | 281,367 |  |  |  | 146,482 |
Deferred revenue |  |  | 21,751 |  |  |  | - |
Lease liability |  |  | 69,025 |  |  |  | 245,790 |
Capitalized research costs |  |  | 5,280,797 |  |  |  | 3,905,973 |
Other |  |  | 8,639 |  |  |  | 6,876 |
Gross deferred tax assets |  |  | 49,998,884 |  |  |  | 44,850,164 |
Valuation allowance |  |  | (49,934,084 | ) |  |  | (44,606,284 | )
Total deferred tax assets |  |  | 64,800 |  |  |  | 243,880 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Right of use asset |  |  | (64,800 | ) |  |  | (243,880 | )
Deferred project costs |  |  | - |  |  |  | - |
Total deferred tax liabilities |  |  | (64,800 | ) |  |  | (243,880 | )
Net deferred tax assets |  | $ | - |  |  |  | - |
Schedule of Reflects Changes in Gross Unrecognized Tax Benefits | The following table reflects changes in gross unrecognized tax benefits:
|  | December 31, |
|  | 2024 |  |  | 2023 |
Balance at beginning of year |  | $ | 2,545,189 |  |  | $ | 2,086,044 |
Increase in balance related to tax positions taken during the current year |  |  | 445,293 |  |  |  | 459,145 |
Increase in balance related to tax positions taken during prior years |  |  | 12,343 |  |  |  | - |
Decrease in balance related to prior year tax positions |  |  | - |  |  |  | - |
Decrease in balance related to settlement with tax authorities |  |  | - |  |  |  | - |
Balance at end of year |  | $ | 3,002,825 |  |  | $ | 2,545,189 |

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

X
- 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://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 217 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-217 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration