XML 15 R5.htm IDEA: XBRL DOCUMENT v3.25.2
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)
Preferred Stock [Member]
Series B Convertible Preferred Stock [Member]
Common Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
Total
Balance at Dec. 31, 2023 $ 13,982 $ 471 $ 156,689,256 $ (146,699,334) $ 10,004,375
Balance, shares at Dec. 31, 2023 1,398,158 4,706,917      
Stock-based compensation:          
Restricted share units $ 10 985,028 985,038
Restricted share units, shares   97,827      
Options 1,043,336 1,043,336
Net loss (2,223,255) (2,223,255)
Common stock issued in connection with warrant exchange [1] $ 200 4,742,043   4,742,243
Common stock issued in connection with warrant exchange, shares [1]   2,000,000      
Return and cancellation of shares in lieu of payroll tax withholding $ (4) (48,406) (48,410)
Return and cancellation of shares in lieu of payroll tax withholding, shares   (34,825)      
Balance at Mar. 31, 2024 $ 13,982 $ 677 163,411,257 (148,922,589) 14,503,327
Balance, shares at Mar. 31, 2024 1,398,158 6,769,919      
Balance at Dec. 31, 2023 $ 13,982 $ 471 156,689,256 (146,699,334) 10,004,375
Balance, shares at Dec. 31, 2023 1,398,158 4,706,917      
Stock-based compensation:          
Net loss         (6,251,817)
Balance at Jun. 30, 2024 $ 13,982 $ 692 163,735,564 (152,951,151) 10,799,087
Balance, shares at Jun. 30, 2024 1,398,158 6,919,919      
Balance at Mar. 31, 2024 $ 13,982 $ 677 163,411,257 (148,922,589) 14,503,327
Balance, shares at Mar. 31, 2024 1,398,158 6,769,919      
Common stock issued in connection with abeyance shares $ 15 (15)  
Common stock issued in connection with abeyance shares, shares   150,000      
Stock-based compensation:          
Options 324,322 324,322
Net loss (4,028,562) (4,028,562)
Balance at Jun. 30, 2024 $ 13,982 $ 692 163,735,564 (152,951,151) 10,799,087
Balance, shares at Jun. 30, 2024 1,398,158 6,919,919      
Balance at Dec. 31, 2024 $ 13,982 $ 692 164,195,434 (155,678,715) 8,531,393
Balance, shares at Dec. 31, 2024 1,398,158 6,919,919      
Exercise of stock options $ 3 42,408 42,411
Exercise of stock options, shares   29,249      
Issuance and sale of common stock, net of issuance costs [2] $ 49 901,561 901,610
Issuance and sale of common stock, net of issuance costs, shares [2]   492,087      
Common stock issued in connection with abeyance shares $ 6 (6)
Common stock issued in connection with abeyance shares, shares   63,525      
Stock-based compensation:          
Options 2,009,126 2,009,126
Net loss (5,339,799) (5,339,799)
Balance at Mar. 31, 2025 $ 13,982 $ 750 167,148,523 (161,018,514) 6,144,741
Balance, shares at Mar. 31, 2025 1,398,158 7,504,780      
Balance at Dec. 31, 2024 $ 13,982 $ 692 164,195,434 (155,678,715) 8,531,393
Balance, shares at Dec. 31, 2024 1,398,158 6,919,919      
Stock-based compensation:          
Net loss         (7,996,062)
Balance at Jun. 30, 2025 $ 13,982 $ 797 168,505,322 (163,674,777) 4,845,324
Balance, shares at Jun. 30, 2025 1,398,158 7,978,117      
Balance at Mar. 31, 2025 $ 13,982 $ 750 167,148,523 (161,018,514) 6,144,741
Balance, shares at Mar. 31, 2025 1,398,158 7,504,780      
Issuance and sale of common stock, net of issuance costs [3] $ 47 888,091 888,138
Issuance and sale of common stock, net of issuance costs, shares [3]   473,337      
Stock-based compensation:          
Options 468,708 468,708
Net loss (2,656,263) (2,656,263)
Balance at Jun. 30, 2025 $ 13,982 $ 797 $ 168,505,322 $ (163,674,777) $ 4,845,324
Balance, shares at Jun. 30, 2025 1,398,158 7,978,117      
[1] Represents the aggregate fair value of 3,351,580 shares of common stock, which includes 2,000,000 shares that were issued at the time of the warrant exchange and 1,351,580 shares that were held in abeyance at the time of the warrant exchange. See Note 4 - Stockholders’ Equity - Warrant Exercise and Issuance and Note 5 - Fair Value Measurement for additional details.
[2] Represents the gross proceeds of $1,083,915, less issuance costs of $182,305, resulting in net proceeds of $901,610. See Note 4 - Stockholders’ Equity - ATM Sales for additional details.
[3] Represents the gross proceeds of $927,335, less issuance costs of $39,197, resulting in net proceeds of $888,138. See Note 4 - Stockholders’ Equity - ATM Sales for additional details.