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Summary of Significant Accounting Policies (Tables)

9 Months Ended

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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