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Income Taxes (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2024

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Reconciliation of Income Tax Benefit

Schedule of Reconciliation of Income Tax Benefit

Schedule of Components of Deferred Tax Assets

Schedule of Effective Income Tax Rate Reconciliation  

The reconciliation of income tax benefit at the U.S. statutory rate of 21% to the Company’s tax expense is as follows:

Schedule of Reconciliation of Income Tax Benefit

		2023				2022
		December 31,				December 31
		2023				2022 (as restated)
Federal tax benefit at statutory rate		$	(1,384,472	)		$	(1,049,174	)
State income taxes, net of federal tax effect			(452,682	)			(351,022	)
Rate change			(5,710	)			(409	)
R & D tax credits			(240,000	)			(69,461	)
Return to provision adjustments			286,015				201,235
Permanent differences
Derivative Debt Discount Amortization			562,568				—
Change in FMV of Warrant Liability			(617,655	)			217,926
Loss on convertible note conversion			132,984				503,249
Other			126,012				169,946
Change in valuation allowance			1,535,466				377,709
Shortfall of stock compensation expense			40,674				—
Other adjustments			16,800				1
Income tax expense		$	—			$	—

Schedule of Components of Deferred Tax Assets

Schedule of Components of Deferred Tax Assets

Schedule of Effective Income Tax Rate Reconciliation  

The principal components of deferred tax assets consist of the following:

Schedule of Components of Deferred Tax Assets

		December 31,				December 31,
		2023				2022 (as restated)
Deferred tax asset:
Net operating loss carryforwards		$	1,727,566			$	751,844
Fixed assets			—				804
Intangibles (includes Section 174 capitalization)			1,197,938				405,172
R&D tax credits			423,915				200,715
Equity based compensation			1,251				11,626
Interest & other accrued expenses			72,140				29,336
Lease asset/(liability)			6,326				1,889
Total		$	3,429,136			$	1,401,386

		December 31,				December 31,
Deferred tax liabilities:		2023				2022 (as restated)
Change in fair market value of securities		$	(19,943	)		$	—
Prepaid expenses			(30,544	)			(46,718	)
State income tax deferred			—				(60,196	)
Fixed assets			(2,746	)			—
Total		$	(53,233	)		$	(106,914	)
Total deferred tax asset		$	3,375,903			$	1,294,472
Less: valuation allowance			(3,375,903	)			(1,294,472	)
Net deferred tax asset		$	—			$	—

Schedule of Effective Income Tax Rate Reconciliation

Schedule of Effective Income Tax Rate Reconciliation  

A reconciliation of the U.S. federal income tax rate to the Company’s effective tax rate is as follows:

Schedule of Effective Income Tax Rate Reconciliation  

		December 31,				December 31,
		2023				2022
Federal income tax benefit at statutory rate			21.0	%			21.0	%
State income tax benefit, net of federal tax effect			6.9	%			7.0	%
Change in tax rate			0.1	%			—	%
R&D tax credits			3.6	%			1.4	%
Return to provision adjustments			(4.3	)%			(4.0	)%
Permanent differences
Derivative Debt Discount Amortization			(8.6	)%			—	%
Change in FMV of Warrant Liability			9.4	%			(4.3	)%
Loss on convertible note conversion			(2.0	)%			(10.1	)%
Other			(1.9	)%			(3.4	)%
Change in valuation allowance			(23.2	)%			(7.6	)%
Shortfall of stock compensation expense			(0.6	)%			—	%
Other adjustments			(0.4	)%			—	%
Total income tax expense			—	%			—	%

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Schedule Of Pretax Income From Continuing Operations [Table Text Block]

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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

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
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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.

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Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

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