v3.22.2.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Income Statement [Abstract]        
REVENUES
OPERATING EXPENSES        
Payroll and related expenses 773,387 540,450 2,321,508 5,555,471
Professional fees 108,841 473,017 966,251 1,427,703
General and administrative 86,916 18,839 255,687 64,887
Research and development expenses 245,853 164,378 704,902 385,785
Total Operating Expenses 1,214,997 1,196,684 4,248,348 7,433,846
LOSS FROM OPERATIONS (1,214,997) (1,196,684) (4,248,348) (7,433,846)
OTHER INCOME (EXPENSE)        
Financing costs including interest (18,744) (450) (57,084) (38,978)
Gain on sale of equity method investment 100,000
Loss on debentures and accrued expenses converted to common stock (390,068)
Gain on forgiveness of debt from Paycheck Protection Program 142,942 142,942
Loss on conversion of bridge notes and accrued interest (744,505)
Total Other Expense, net (18,744) (142,492) (57,084) (930,609)
Loss from operations before income taxes (1,233,741) (1,054,192) (4,305,432) (8,364,455)
INCOME TAXES
NET LOSS (1,233,741) (1,054,192) (4,305,432) (8,364,455)
Series A preferred contractual dividends (7,200) (7,259) (20,420) (22,338)
Series B preferred contractual dividends (38,034) (168,370) (113,276) (168,370)
Deemed dividend on conversion of Series A preferred stock to common stock (542,500)
Deemed dividend on warrant modification (694,575) (41,225) (850,213)
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (1,278,975) $ (1,924,396) $ (4,480,353) $ (9,947,876)
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS: BASIC AND DILUTED: $ (0.75) $ (2.45) $ (2.66) $ (14.57)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING: BASIC AND DILUTED 1,699,444 786,321 1,685,074 682,960