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Summary of Significant Accounting Policies (Tables) | 9 Months Ended
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Sep. 30, 2023
Accounting Policies [Abstract] |
Schedule of Investment Securities | Investment securities are as follows: Schedule of Investment Securities
|  | September 30, 2023 |  |  | December 31, 2022 |
Investment securities, at amortized cost: |  |  |  |  |  |  |  |
U.S Treasury Bills |  | $ | 7,495,988 |  |  | $ | 16,188,920 |
Investment securities, at amortized cost |  | $ | 7,495,988 |  |  | $ | 16,188,920 |
Schedule of Investment Securities Broker Dealer | Broker/Dealer Securities Schedule of Investment Securities Broker Dealer
|  | September 30, 2023 |  |  | December 31, 2022 |
Investment securities, at fair value: |  |  |  |  |  |  |  |
Common stock of publicly traded companies |  | $ | 2,383,141 |  |  | $ | 787,137 |
Warrants of publicly traded companies |  |  | 2,581,584 |  |  |  | 45,440 |
Investment securities, at fair value |  | $ | 4,964,725 |  |  | $ | 832,577 |
Investment securities, at cost less impairment |  |  |  |  |  |  |  |
Preferred stock of private company (not market listed) |  | $ | 50,000 |  |  | $ | 50,000 |
Investment securities, at cost less impairment |  | $ | 50,000 |  |  | $ | 50,000 |
Schedule of Investment Securities Non Broker Dealer | Non-Broker/Dealer Securities Schedule of Investment Securities Non Broker Dealer
|  | September 30, 2023 |  |  | December 31, 2022 |
Investment securities, at cost less impairment |  |  |  |  |  |  |  |
Simple agreement on future equities (not market listed) |  | $ | 300,000 |  |  | $ | 200,000 |
Investment securities, at cost less impairment |  | $ | 300,000 |  |  | $ | 200,000 |
Schedule of Amortized Cost, Unrealized Holding Loss and Fair Value of Held to Maturity Securities | The amortized cost, excluding gross unrealized holding loss and fair value of held to maturity securities on September 30, 2023 and December 31, 2022 are as follows: Schedule of Amortized Cost, Unrealized Holding Loss and Fair Value of Held to Maturity Securities
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Gain |  |  | Fair Value |
|  | Amortized Cost as of September 30, 2023 |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value (Level 1) as of September 30, 2023 |
U.S Treasury Bills maturing 10/05/23 |  | $ | 7,495,988 |  |  | $ | 693 |  |  | $ | - |  |  | $ | 7,496,681 |
Total assets |  | $ | 7,495,988 |  |  | $ | 693 |  |  | $ | - |  |  | $ | 7,496,681 |
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
|  | Amortized Cost as of December 31, 2022 |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value (Level 1) as of December 31, 2022 |
U.S Treasury Bills maturing 05/11/23 and 10/05/23 |  | $ | 16,188,920 |  |  | $ | - |  |  | $ | (51,645 | ) |  | $ | 16,137,275 |
Total assets |  | $ | 16,188,920 |  |  | $ | - |  |  | $ | (51,645 | ) |  | $ | 16,137,275 |
Schedule of Fair Value of Company’s Financial Assets and Liabilities Measured at Fair Value On a Recurring Basis | The following table sets forth the fair value of the Company’s financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2023 except for the Level 3 investment that is recorded at cost: Schedule of Fair Value of Company’s Financial Assets and Liabilities Measured at Fair Value On a Recurring Basis
Assets |  | Classification |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Investment Securities (held by our licensed broker dealer) |  | Equity securities–- common stock |  | $ | 2,383,141 |  |  | $ | - |  |  | $ | - |  |  | $ | 2,383,141 |
Investment Securities (held by our licensed broker dealer) |  | Warrants |  |  | - |  |  |  | 28,222 |  |  |  | 2,553,362 |  |  |  | 2,581,584 |
Total assets measured at fair value (held by our licensed broker dealer) |  |  |  | $ | 2,383,141 |  |  | $ | 28,222 |  |  | $ | 2,553,362 |  |  | $ | 4,964,725 |
During the nine months ended September 30, 2023, the Company did not have any transfers between Level 1, Level 2, or Level 3 of the fair value hierarchy. Reconciliation of fair value measurements categorized within Level 3 of the fair value hierarchy:
December 31, 2022 |  | $ | - |
Beginning Balance |  | $ | - |
Receipt from investment banking fees |  |  | 2,645,620 |
Realized gains |  |  | - |
Unrealized gains |  |  | 72,829 |
Sales or distribution |  |  | (165,087 | )
Purchases |  |  | - |
September 30, 2023 |  | $ | 2,553,362 |
Ending Balance |  | $ | 2,553,362 |
The following table present information about significant unobservable inputs related to material components of Level 3 warrants as of September 30, 2023.
Assets |  | Fair Value |  |  | Valuation Techniques |  | Significant Unobservable Inputs |  | Ranges of Inputs |  |  | Weighted-Average |
Warrants |  | $ | 2,553,362 |  |  | Black Scholes |  | Volatility |  |  | 99.34 | % |  |  | 99.34 | %
The following table sets forth the fair value of the Company’s financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2022, except for the Level 3 investment that is recorded at cost:
Assets |  | Classification |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Investment Securities (held by our licensed broker dealer) |  | Equity securities - common stock |  | $ | 787,137 |  |  | $ | - |  |  | $ | - |  |  | $ | 787,137 |
Investment Securities (held by our licensed broker dealer) |  | Warrants |  |  | - |  |  |  | 45,440 |  |  |  | - |  |  |  | 45,440 |
Total assets measured at fair value (held by our licensed broker dealer) |  |  |  | $ | 787,137 |  |  | $ | 45,440 |  |  | $ | - |  |  | $ | 832,577 |
Schedule of Straight-Line Method Over the Following Estimated Useful Lives | Schedule of Straight-Line Method Over the Following Estimated Useful Lives
Laboratory equipment |  | 5 years
Furniture and fixtures |  | 7 years
Leasehold improvements |  | Lesser of the lease duration or the life of the improvements
Schedule of Property And Equipment | Property and equipment consist of the following as of September 30, 2023 and December 31, 2022, respectively: Schedule of Property And Equipment
|  | September 30, 2023 |  |  | December 31, 2022 |
Laboratory equipment |  | $ | 811,281 |  |  | $ | 803,030 |
Furniture and fixtures |  |  | 49,838 |  |  |  | 10,270 |
Software development |  |  | 104,379 |  |  |  | - |
Leasehold improvements |  |  | 279,161 |  |  |  | 75,725 |
Total property and equipment |  |  | 1,244,659 |  |  |  | 889,025 |
Less: Accumulated depreciation |  |  | (402,353 | ) |  |  | (264,381 | )
Property and equipment, net |  | $ | 842,306 |  |  | $ | 624,644 |
Schedule of contract liabilities | The PatentVest’s contract liabilities which is presented as Deferred revenue, consist of advance payments. The table below shows changes in deferred revenue: Schedule of contract liabilities
Balance as of December 31, 2021 |  | $ | - |
Amounts billed but not recognized |  |  | - |
Revenue recognized |  |  | - |
Balance as of June 30, 2022 |  |  | - |
Amounts billed but not recognized |  |  | - |
Revenue recognized |  |  | - |
Balance as of September 30, 2022 |  |  | - |
Amounts billed but not recognized |  |  | - |
Revenue recognized |  |  | - |
Balance as of December 31, 2022 |  |  | - |
Amounts billed but not recognized |  |  | - |
Revenue recognized |  |  | - |
Balance as of June 30, 2022 |  |  | - |
Amounts billed but not recognized |  |  | 200,000 |
Revenue recognized |  |  | - |
Balance as of September 30, 2023 |  | $ | 200,000 |
Summary of Grants Receivable Activity | Summary of grants receivable activity for the nine months ended September 30, 2023 and 2022, is presented below: Summary of Grants Receivable Activity
|  | 2023 |  |  | 2022 |
Balance at beginning of period |  | $ | 809,532 |  |  | $ | 468,353 |
Grant costs expensed |  |  | 2,180,581 |  |  |  | 1,596,936 |
Grants for equipment purchased |  |  | - |  |  |  | 49,626 |
Grant fees |  |  | 84,827 |  |  |  | 54,725 |
Grant funds received |  |  | (2,398,488 | ) |  |  | (1,330,771 | )
Balance at end of period |  | $ | 676,452 |  |  | $ | 838,869 |

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