Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited)

v3.23.2
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)
Total
Common Stock
Additional Paid-In Capital
Accumulated Deficit
Accumulated Other Comprehensive Income (Loss)
Balance at Dec. 31, 2021 $ 9,181,203 $ 758 $ 37,618,438 $ (28,437,993)  
Balance, Shares at Dec. 31, 2021   7,584,980      
Issuance of common shares upon exercise of stock options 47,700 $ 3 47,697    
Issuance of common shares upon exercise of stock options, Shares   26,500      
Issuance of common shares upon exercise of warrants 110,000 $ 6 109,994    
Issuance of common shares upon exercise of warrants, Shares   61,111      
Issuance of common shares in connection with Equity Financing 2,373,561 $ 27 2,373,534    
Issuance of common shares in connection with Equity Financing, Shares   263,729      
Stock-based compensation expense 713,330   713,330    
Modification of warrant in equity     450,478    
Deemed dividend on modification of warrant     (450,478)    
Foreign currency translation adjustment 1,721       $ 1,721
Net loss (3,413,845)     (3,413,845)  
Balance at Mar. 31, 2022 9,013,670 $ 794 40,862,993 (31,851,838) 1,721
Balance, Shares at Mar. 31, 2022   7,936,320      
Balance at Dec. 31, 2021 9,181,203 $ 758 37,618,438 (28,437,993)  
Balance, Shares at Dec. 31, 2021   7,584,980      
Net loss (6,719,728)        
Balance at Jun. 30, 2022 6,662,088 $ 842 41,823,112 (35,157,721) (4,145)
Balance, Shares at Jun. 30, 2022   8,416,032      
Balance at Mar. 31, 2022 9,013,670 $ 794 40,862,993 (31,851,838) 1,721
Balance, Shares at Mar. 31, 2022   7,936,320      
Issuance of common shares upon exercise of warrants 275,400 $ 47 275,353    
Issuance of common shares upon exercise of warrants, Shares   468,601      
Issuance of common shares in connection with Equity Financing 99,999 $ 1 99,998    
Issuance of common shares in connection with Equity Financing, Shares   11,111      
Stock-based compensation expense 584,768   584,768    
Foreign currency translation adjustment (5,866)       (5,866)
Net loss (3,305,883)     (3,305,883)  
Balance at Jun. 30, 2022 6,662,088 $ 842 41,823,112 (35,157,721) (4,145)
Balance, Shares at Jun. 30, 2022   8,416,032      
Balance at Dec. 31, 2022 8,507,793 $ 1,096 52,729,942 (44,207,272) (15,973)
Balance, Shares at Dec. 31, 2022   10,955,904      
Issuance of restricted stock 164,070 $ 4 164,066    
Issuance of restricted stock, Shares   40,500      
Stock-based compensation expense 537,522   537,522    
Foreign currency translation adjustment (9,301)       (9,301)
Net loss (4,116,876)     (4,116,876)  
Balance at Mar. 31, 2023 5,083,208 $ 1,100 53,431,530 48,324,148 (25,274)
Balance, Shares at Mar. 31, 2023   10,996,404      
Balance at Dec. 31, 2022 8,507,793 $ 1,096 52,729,942 (44,207,272) (15,973)
Balance, Shares at Dec. 31, 2022   10,955,904      
Net loss (8,640,500)        
Balance at Jun. 30, 2023 6,874,334 $ 1,365 59,746,649 (52,847,772) (25,908)
Balance, Shares at Jun. 30, 2023   13,648,425      
Balance at Mar. 31, 2023 5,083,208 $ 1,100 53,431,530 48,324,148 (25,274)
Balance, Shares at Mar. 31, 2023   10,996,404      
Issuance of restricted stock 324,260 $ 9 324,251    
Issuance of restricted stock, Shares   96,521      
Issuance of warrants to underwriter in connection with follow-on offering 241,109   241,109    
Issuance of common shares in connection with follow-on offering, net of issuance costs 4,156,859 $ 256 4,156,603    
Issuance of common shares in connection with follow-on offering, net of issuance costs, Shares   2,555,500      
Issuance of stock options to satisfy accrued bonus 974,224   974,224    
Stock-based compensation expense 618,932   618,932    
Foreign currency translation adjustment (634)       (634)
Net loss (4,523,624)     (4,523,624)  
Balance at Jun. 30, 2023 $ 6,874,334 $ 1,365 $ 59,746,649 $ (52,847,772) $ (25,908)
Balance, Shares at Jun. 30, 2023   13,648,425