Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Stockholders' Equity (Unaudited)

v3.23.2
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($)
Preferred Stock [Member]
Series A Convertible Preferred Stock [Member]
Common Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
Total
Balance at Dec. 31, 2021 $ 3,500,000 $ 137 $ 38,372,365 $ (37,082,164) $ 4,790,338
Balance, shares at Dec. 31, 2021 350,000 1,374,706      
Stock-based compensation expense 763,766 763,766
Net loss (3,203,222) (3,203,222)
Proceeds from sale of common stock in registered direct offering, net of offering costs $ 29 5,141,355 5,141,384
Proceeds from sale of common stock in direct equity offering, net of offering costs, shares   290,000      
Balance at Jun. 30, 2022 $ 3,500,000 $ 166 44,277,486 (40,285,386) 7,492,266
Balance, shares at Jun. 30, 2022 350,000 1,664,706      
Balance at Mar. 31, 2022 $ 3,500,000 $ 137 38,712,037 (38,739,082) 3,473,092
Balance, shares at Mar. 31, 2022 350,000 1,374,706      
Stock-based compensation expense 424,094 424,094
Net loss (1,546,304) (1,546,304)
Proceeds from sale of common stock in registered direct offering, net of offering costs $ 29 5,141,355 5,141,384
Proceeds from sale of common stock in direct equity offering, net of offering costs, shares   290,000      
Balance at Jun. 30, 2022 $ 3,500,000 $ 166 44,277,486 (40,285,386) 7,492,266
Balance, shares at Jun. 30, 2022 350,000 1,664,706      
Balance at Dec. 31, 2022 $ 3,500,000 $ 166 45,059,760 (43,394,699) 5,165,227
Balance, shares at Dec. 31, 2022 350,000 1,664,706      
Stock-based compensation expense 557,040 557,040
Net loss (3,036,014) (3,036,014)
Exercise of options 6,281 $ 6,281
Exercise of stock options, shares   1,250     1,250
Balance at Jun. 30, 2023 $ 3,500,000 $ 166 45,623,081 (46,430,713) $ 2,692,534
Balance, shares at Jun. 30, 2023 350,000 1,665,956      
Balance at Mar. 31, 2023 $ 3,500,000 $ 166 45,343,021 (44,762,358) 4,080,829
Balance, shares at Mar. 31, 2023 350,000 1,665,956      
Stock-based compensation expense 280,060 280,060
Net loss (1,668,355) (1,668,355)
Balance at Jun. 30, 2023 $ 3,500,000 $ 166 $ 45,623,081 $ (46,430,713) $ 2,692,534
Balance, shares at Jun. 30, 2023 350,000 1,665,956