v3.22.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Income Statement [Abstract]        
REVENUES
OPERATING EXPENSES        
Payroll and related expenses 791,721 2,552,199 1,548,120 5,015,020
Professional fees 218,006 151,858 857,411 954,686
General and administrative 49,300 51,794 168,768 46,048
Research and development expenses 204,216 147,453 459,053 221,407
Total Operating Expenses 1,263,243 2,903,304 3,033,352 6,237,161
LOSS FROM OPERATIONS (1,263,243) (2,903,304) (3,033,352) (6,237,161)
OTHER INCOME (EXPENSE)        
Financing costs including interest (20,203) (899) (38,340) (38,528)
Gain on sale of equity method investment 100,000
Loss on debentures and accrued expenses converted to common stock (390,068)
Loss on conversion of bridge notes and accrued interest (744,505)
Total Other Expense, net (20,203) (899) (38,340) (1,073,101)
Loss from operations before income taxes (1,283,446) (2,904,203) (3,071,692) (7,310,262)
INCOME TAXES
NET LOSS (1,283,446) (2,904,203) (3,071,692) (7,310,262)
PREFERRED STOCK        
Series A preferred contractual dividends (6,018) (162,819) (13,220) (170,717)
Series B preferred contractual dividends (38,035) (75,241)
Deemed dividend on conversion of Series A preferred stock to shares of common stock (542,500)
Deemed dividend on warrant modification (41,225)
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (1,327,499) $ (3,067,022) $ (3,201,378) $ (8,023,479)
Earnings Per Share, Basic [Abstract]        
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS: BASIC AND DILUTED: $ (0.79) $ (4.42) $ (1.91) $ (12.72)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING: BASIC AND DILUTED 1,677,681 693,323 1,677,681 630,645