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v3.22.2.2

Significant Accounting Policies (Tables) | 9 Months Ended
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Sep. 30, 2022
Accounting Policies [Abstract] |
Schedule of Marketable Securities | The following is a description of the valuation methodologies used for assets measured at fair value as of September 30, 2022 and December 31, 2021. Schedule of Marketable Securities Marketable Securities: Valued using quoted prices in active markets for identical assets.
|  | Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) |  |  | Quoted Prices for Similar Assets or Liabilities in Active Markets (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Marketable securities at September 30, 2022 |  | $ | 6,774,381 |  |  | $ | - |  |  | $ | - |
Marketable securities at December 31, 2021 |  | $ | 11,003,071 |  |  | $ | - |  |  | $ | - |
Schedule of Estimated Useful Lives of Property Plant and Equipment | The estimated useful lives for the current and comparative periods are as follows: Schedule of Estimated Useful Lives of Property Plant and Equipment
|  | Useful Life
|  | (in years)
Plant and equipment |  | 5-12
Furniture and fixtures |  | 5-10
Computer equipment & software |  | 3-5
Leasehold Improvements |  | Shorter of the remaining lease or estimated useful life
Schedule of Estimated Useful Lives of Intangible Assets | Amortization is recognized on a straight-line basis over the estimated useful lives of intangible assets, other than goodwill, from the date that they are available for use. The estimated useful lives for the current and comparative periods are as follows: Schedule of Estimated Useful Lives of Intangible Assets
|  | Useful Life
|  | (in years)
Patents and trademarks |  | 12-17
Schedule of Condensed Consolidated Balance Sheet Information Related to Operating Lease | The Company’s operating leases are comprised of the Hyde Park Lease, the 2021 Baltimore Lease and the Platt Street Lease on the Condensed Consolidated Balance Sheet. The information related to these leases are presented below: Schedule of Condensed Consolidated Balance Sheet Information Related to Operating Lease
|  | As of September 30, 2022 |  |  | As of December 31, 2021 |
|  | Platt Street |  |  | 2021 Baltimore |  |  |  |  |  | Hyde Park |  |  | 2021 Baltimore |  |  |  |
Balance Sheet Location |  | Lease |  |  | Lease |  |  | Total |  |  | Lease |  |  | Lease |  |  | Total |
Operating Lease |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Lease Right of Use |  | $ | 49,797 |  |  | $ | 105,331 |  |  | $ | 155,128 |  |  | $ | 12,156 |  |  | $ | 136,853 |  |  | $ | 149,009 |
Lease Payable, current |  |  | 18,132 |  |  |  | 45,490 |  |  |  | 63,622 |  |  |  | 12,164 |  |  |  | 41,076 |  |  |  | 53,240 |
Lease Payable - net of current |  |  | 31,970 |  |  |  | 61,174 |  |  |  | 93,144 |  |  |  | - |  |  |  | 95,911 |  |  |  | 95,911 |
Schedule of Lease Expense | The following provides details of the Company’s lease expense: Schedule of Lease Expense
|  | Three Months Ended September 30, 2022 |  |  | Three Months Ended September 30, 2021 |
|  | Platt Street |  |  | 2021 Baltimore |  |  |  |  |  | Supera Aviation |  |  | Hyde Park |  |  | 2020 Baltimore |  |  |  |
Lease Expenses |  | Lease |  |  | Lease |  |  | Total |  |  | Lease |  |  | Lease |  |  | Lease |  |  | Total |
Operating Leases |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Lease Costs |  | $ | 5,660 |  |  | $ | 13,600 |  |  | $ | 19,260 |  |  | $ | - |  |  | $ | 6,257 |  |  | $ | 6,000 |  |  | $ | 12,257 |
|  | Nine Months Ended September 30, 2022 |  |  | Nine Months Ended September 30, 2021 |
|  | Hyde Park |  |  | Platt Street |  |  | 2021 Baltimore |  |  |  |  |  | Supera Aviation |  |  | Hyde Park |  |  | 2020 Baltimore |  |  |  |
Lease Expenses |  | Lease |  |  | Lease |  |  | Lease |  |  | Total |  |  | Lease |  |  | Lease |  |  | Lease |  |  | Total |
Operating Leases |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Lease Costs |  | $ | 6,251 |  |  | $ | 11,321 |  |  | $ | 40,800 |  |  | $ | 58,372 |  |  | $ | 150,000 |  |  | $ | 16,830 |  |  | $ | 19,455 |  |  | $ | 186,285 |
Schedule of Other Information Related to Leases | Other information related to leases is presented below: Schedule of Other Information Related to Leases
|  | As of September 30, 2022 |
|  | Hyde |  |  | Platt |  |  | 2021 Baltimore |  |  |  |
Other Information |  | Park Lease |  |  | Street Lease |  |  | Lease |  |  | Total |
Operating Leases |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating cash used |  | $ | 4,622 |  |  | $ | 13,104 |  |  | $ | 39,666 |  |  | $ | 57,392 |
Average remaining lease term |  |  | - |  |  |  | 30 |  |  |  | 26 |  |  |  | 28 |
Average discount rate |  |  | 10.0 | % |  |  | 10.0 | % |  |  | 10.0 | % |  |  | 10.0 | %
Schedule of Operating Lease Minimum Lease Payments | As of September 30, 2022, the annual minimum lease payments of the Company’s operating lease liabilities were as follows: Schedule of Operating Lease Minimum Lease Payments
|  | Street Lease |  |  | Lease |  |  | Total |
|  | As of September 30, 2022 |
|  | Platt |  |  | 2021 Baltimore |  |  |  |
|  | Street Lease |  |  | Lease |  |  | Total |
For Years Ending September 30, |  |  |  |  |  |  |  |  |
2022 (three months) |  | $ | 5,508 |  |  | $ | 13,332 |  |  | $ | 18,840 |
2023 |  |  | 22,485 |  |  |  | 54,520 |  |  |  | 77,005 |
2024 |  |  | 23,103 |  |  |  | 51,348 |  |  |  | 74,451 |
2025 |  |  | 5,814 |  |  |  | - |  |  |  | 5,814 |
Total future minimum lease payments, undiscounted |  | $ | 56,910 |  |  | $ | 119,200 |  |  | $ | 176,110 |
Less: Imputed interest |  |  | 6,808 |  |  |  | 12,536 |  |  |  | 19,344 |
Present value of future minimum lease payments |  | $ | 50,102 |  |  | $ | 106,664 |  |  | $ | 156,766 |
Schedule of Anti-dilutive Securities Excluded from Computation of Earnings Per Share | As of September 30, 2022 and 2021, the following securities are excluded from the calculation of weighted average dilutive common shares because their inclusion would have been anti-dilutive: Schedule of Anti-dilutive Securities Excluded from Computation of Earnings Per Share
|  | 2022 |  |  | 2021 |
|  | For the Three and Nine Months Ended September 30,
|  | 2022 |  |  | 2021 |
Stock Options |  |  | 4,376,737 |  |  |  | 4,188,315 |
Warrants to purchase common stock |  |  | 6,522,461 |  |  |  | 5,316,249 |
Pre-funded Warrants to purchase common stock |  |  | 135,135 |  |  |  | 520,270 |
Series D Preferred Convertible Stock |  |  | 36,496 |  |  |  | 36,496 |
Warrants to purchase Series C Preferred stock |  |  | 27,500 |  |  |  | 27,500 |
Total potentially dilutive shares |  |  | 11,098,329 |  |  |  | 10,088,830 |

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