Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Details Narrative)

v3.22.1
Stock-Based Compensation (Details Narrative) - USD ($)
1 Months Ended 3 Months Ended
Jun. 30, 2021
May 11, 2021
Apr. 09, 2021
Jan. 06, 2021
Aug. 12, 2020
Aug. 01, 2020
Jul. 15, 2020
Jul. 14, 2020
Jun. 30, 2021
Mar. 31, 2022
Mar. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                      
Number of fully vested option exercisable                   2,097,917  
Stock options requiring assessment of value                   0  
Stock option vested exercisable term                   15 months  
Stock based compensation                   $ 339,672 $ 656,032
Total deferred compensation expense for outstanding value of unvested stock options                   1,757,000  
Intrinsic value of exercisable but unexercised in-the-money stock options                   $ 11,000  
Fair market value, per share                   $ 1.23  
Outstanding stock options to acquire shares of common stock not vested                   568,750  
Dr. Winson Sze Chun Ho [Member]                      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                      
Number of fully vested option issued       50,000              
Dr. Yun Yen [Member]                      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                      
Number of fully vested option issued       50,000              
Dr. Stephen Forman [Member]                      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                      
Number of fully vested option issued       50,000              
Philip Palmedo [Member]                      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                      
Number of fully vested option issued       50,000              
Eric J. Forman [Member] | Employment Agreement [Member]                      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                      
Stock options description             On July 15, 2020, as amended on August 12, 2020, in connection with the employment agreement entered into with Eric J. Forman, Mr. Forman was granted options for 58,333 shares of the Company’s common stock. The options can be exercised on a cashless basis. The options have a term of five years and an exercise price of $7.14 per share, which was equal to the closing market price of the Company’s common stock on the grant date. The options vested as to 25% on August 12, 2020 and August 12, 2021, and will vest 25% on each of the second and third anniversaries of the grant date. The fair value of these stock options, as calculated pursuant to the Black-Scholes option-pricing model, was determined to be $400,855 ($6.8718 per share), of which $100,214 was attributable to the stock options fully-vested on August 12, 2020 and was therefore charged to operations on that date. The remaining unvested portion of the fair value of the stock options is being charged to operations ratably from August 12, 2020 through August 12, 2023. During the three months ended March 31, 2022 and 2021, the Company recorded charges to general and administrative costs in the consolidated statement of operations of $24,710 and $24,710, respectively, with respect to these stock options        
Stock options granted to purchase common stock, issued             58,333        
Stock option vested exercisable term             5 years        
Stock options are exercisable price per share             $ 7.14        
Fair value of stock options             $ 400,855        
Stock price per share             $ 6.8718        
Stock options fully vested amount, fair value         $ 100,214            
Stock based compensation                   $ 24,710 24,710
Dr. James Miser [Member] | Employment Agreement [Member]                      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                      
Stock options description           Dr. James S. Miser, M.D., Dr. Miser was granted options for 83,334 shares of the Company’s common stock. The options can be exercised on a cashless basis. The options have a term of five years and an exercise price of $7.14 per share, which was equal to the closing market price of the Company’s common stock on the effective date of the employment agreement. The options vested as to 25% on August 1, 2020 and August 1, 2021, and will vest 25% on each of the second and third anniversaries of the effective date. The fair value of these stock options, as calculated pursuant to the Black-Scholes option-pricing model, was determined to be $572,650 ($6.8718 per share), of which $143,163 was attributable to the stock options fully-vested on August 1, 2020 and was therefore charged to operations on that date. The remaining unvested portion of the fair value of the stock options is being charged to operations ratably from August 1, 2020 through August 1, 2023. During the three months ended March 31, 2022 and 2021, the Company recorded charges to general and administrative costs in the consolidated statement of operations of $35,300 and $35,300, respectively, with respect to these stock options          
Stock options granted to purchase common stock, issued           83,334          
Stock option vested exercisable term           5 years          
Stock options are exercisable price per share           $ 7.14          
Fair value of stock options           $ 572,650          
Stock price per share           $ 6.8718          
Stock options fully vested amount, fair value           $ 143,163          
Stock based compensation                   35,300 35,300
Robert N. Weingarten [Member] | Employment Agreement [Member]                      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                      
Stock options description         On August 12, 2020, in connection with the employment agreement entered into with Robert N. Weingarten, Mr. Weingarten was granted options for 58,333 shares of the Company’s common stock. The options can be exercised on a cashless basis. The options have a term of five years and an exercise price of $7.14 per share, which was equal to the closing market price of the Company’s common stock on the grant date. The options vested as to 25% on August 12, 2020 and August 12, 2021, and will vest 25% on each of the second and third anniversaries of the grant date. The fair value of these stock options, as calculated pursuant to the Black-Scholes option-pricing model, was determined to be $400,855 ($6.8718 per share), of which $100,214 was attributable to the stock options fully-vested on August 12, 2020 and was therefore charged to operations on that date. The remaining unvested portion of the fair value of the stock options is being charged to operations ratably from August 12, 2020 through August 12, 2023. During the three months ended March 31, 2022 and 2021, the Company recorded charges to general and administrative costs in the consolidated statement of operations of $24,710 and $24,710, respectively, with respect to these stock options            
Stock options granted to purchase common stock, issued         58,333            
Stock option vested exercisable term         5 years            
Stock options are exercisable price per share         $ 7.14            
Fair value of stock options         $ 400,855            
Stock price per share         $ 6.8718            
Stock options fully vested amount, fair value         $ 100,214            
Stock based compensation                   24,710 $ 24,710
Non Officer Directors [Member]                      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                      
Stock vesting description     Stock-based features of the compensation package consisted of the annual granting of stock options to each non-officer director to purchase 100,000 shares of common stock at the closing market price on the earlier of the date of the annual meeting of shareholders or the last business day of the month ending June 30, vesting 12.5% on the last day of each subsequent calendar quarter-end until fully vested                
Number of fully vested option exercisable 500,000   100,000           500,000    
Stock options description the Board of Directors, in accordance with the recently adopted cash and equity compensation package for the members of the Board of Directors, granted to each of the five non-officer directors of the Company stock options exercisable for a period of five years to purchase 100,000 shares (a total of 500,000 shares) of the Company’s common stock at an exercise price of $3.03 per share (the closing market price on the grant date), vesting 12.5% on the last day of each subsequent calendar quarter-end until fully vested. The total fair value of the 500,000 stock options, as calculated pursuant to the Black-Scholes option-pricing model, was determined to be $1,421,095 ($2.84225 per share), which is being charged to operations ratably from July 1, 2021 through June 30, 2023. During the three months ended March 31, 2022, the Company recorded a charge to general and administrative costs in the consolidated statement of operations of $175,205 with respect to these stock options.                    
Stock option vested exercisable term 5 years                    
Stock options are exercisable price per share $ 3.03               $ 3.03    
Fair value of stock options                 $ 1,421,095    
Stock price per share $ 2.84225               $ 2.84225    
Stock based compensation                   175,205  
Stock options granted to purchase common stock, issued                 500,000    
New Director [Member]                      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                      
Stock vesting description     the granting of stock options to a new director to purchase 250,000 shares of common stock, exercisable at the closing market price on the grant date for a period of five years, vesting 50% on the grant date and the remainder vesting 12.5% on the last day of each subsequent calendar quarter-end until fully vested                
Number of fully vested option exercisable     250,000                
Director [Member]                      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                      
Stock option vested exercisable term       5 years              
Stock options are exercisable price per share       $ 3.21              
Fair value of stock options       $ 571,312              
Stock price per share       $ 2.8566              
Number of fully vested option issued       200,000              
Director [Member] | Dr. Winson Sze Chun Ho [Member]                      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                      
Number of fully vested option exercisable     250,000                
Stock options description     Winson Sze Chun Ho resigned from the Company’s Board of Directors to focus on clinical and pre-clinical cancer research in academic medicine. Concurrent with his resignation, the Board of Directors appointed Gil Schwartzberg to fill the vacancy created by Dr. Ho’s resignation. In connection with his appointment to the Board of Directors, and in accordance with the Company’s cash and equity compensation package for members of the Board of Directors, Mr. Schwartzberg was granted options exercisable for a period of five years to purchase 250,000 shares of the Company’s common stock at an exercise price of $3.20 per share (the closing market price on the grant date), vesting 50% on the grant date and the remainder vesting 12.5% on the last day of each subsequent calendar quarter-end until fully vested. The fair value of these stock options, as calculated pursuant to the Black-Scholes option-pricing model, was determined to be $753,611 ($3.0144 per share), of which $376,800 was attributable to the stock options fully-vested on April 9, 2021 and was therefore charged to operations on that date. The remaining unvested portion of the fair value of the stock options is being charged to operations ratably from April 9, 2021 through June 30, 2023. During the three months ended March 31, 2022, the Company recorded a charge to general and administrative costs in the consolidated statement of operations of $41,764 with respect to these stock options.                
Stock option vested exercisable term     5 years                
Stock options are exercisable price per share     $ 3.20                
Fair value of stock options     $ 753,611                
Stock price per share     $ 3.0144                
Stock options fully vested amount, fair value     $ 376,800                
Stock based compensation                   41,764  
Director [Member] | Ms.Regina Brown [Member]                      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                      
Number of fully vested option exercisable   250,000                  
Stock options description   the Board of Directors appointed Regina Brown to the Board of Directors. In connection with her appointment to the Board of Directors, and in accordance with the Company’s cash and equity compensation package for members of the Board of Directors, Ms. Brown was granted options exercisable for a period of five years to purchase 250,000 shares of the Company’s common stock at an exercise price of $2.80 per share (the closing market price on the grant date), vesting 50% on the grant date and the remainder vesting 12.5% on the last day of each subsequent calendar quarter-end until fully vested. The fair value of these stock options, as calculated pursuant to the Black-Scholes option-pricing model, was determined to be $658,363 ($2.6335 per share), of which $329,188 was attributable to the stock options fully-vested on May 11, 2021 and was therefore charged to operations on that date. The remaining unvested portion of the fair value of the stock options is being charged to operations ratably from May 11, 2021 through June 30, 2023. During the three months ended March 31, 2022, the Company recorded a charge to general and administrative costs in the consolidated statement of operations of $37,983 with respect to these stock options.                  
Stock option vested exercisable term   5 years                  
Stock options are exercisable price per share   $ 2.80                  
Fair value of stock options   $ 658,363                  
Stock price per share   $ 2.6335                  
Stock options fully vested amount, fair value   $ 329,188                  
Stock based compensation                   $ 37,983  
Five Non Officer Directors [Member]                      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                      
Number of fully vested option exercisable 100,000               100,000    
2020 Stock Incentive Plan [Member]                      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                      
Shares issued                   1,400,000  
Shares outstanding                   1,400,000  
Shares were available for issuance                   933,333  
2020 Stock Incentive Plan [Member] | Maximum [Member]                      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                      
Number of restricted stock issued               2,333,333