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Note 8 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

		2022				2021
Deferred tax assets:
Net operating loss carryforward		$	19,764,569			$	18,449,694
Research and development tax credit carryforward			2,202,603				1,566,293
Stock-based compensation expense			330,553				129,475
Accrued expenses			663,211				69,940
Total deferred tax assets			22,960,936				20,215,402
Deferred tax liabilities
Depreciation			51,466				30,945
Net deferred tax assets			22,909,470				20,184,457
Valuation allowance			(22,909,470	)			(20,184,457	)
Net deferred tax asset after reduction for valuation allowance		$	-0-			$	-0-

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

		2022				2021
U.S. federal statutory rate applied to pretax loss			21.0	%			21.0	%
State income tax (benefit)			3.9				4.0
Permanent differences			(0.0	)			0.2
NOL carryforward expiration			(15.6	)			(5.3	)
R&D tax credits, net of expiration			4.6				2.0
Change in valuation allowance and other adjustments			(13.9	)			(21.9	)
Effective tax rate			0.0	%			0.0	%

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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319

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- 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://fasb.org/us-gaap/role/ref/legacyRef
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-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
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