Quarterly report pursuant to Section 13 or 15(d)

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

v3.23.3
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)
Total
Common Stock
Additional Paid-In Capital
Accumulated Deficit
Accumulated Other Comprehensive Income (Loss)
IPO
IPO
Common Stock
IPO
Additional Paid-In Capital
Ratchet
Ratchet
Common Stock
Ratchet
Additional Paid-In Capital
Follow-on Offering
Follow-on Offering
Common Stock
Follow-on Offering
Additional Paid-In Capital
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 (11,623,541)                          
Balance at Sep. 30, 2022 12,110,667 $ 1,095 52,222,752 (40,061,534) (51,646)                  
Balance, Shares at Sep. 30, 2022   10,945,904                        
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                        
Issuance of common shares upon exercise of stock options 18,000 $ 1 17,999                      
Issuance of common shares upon exercise of stock options, Shares   10,000                        
Issuance of common shares           $ 8,750,095 $ 230 $ 8,749,865 $ 1,099,360 $ 22 $ 1,099,338      
Issuance of common shares, Shares             2,300,000     219,872        
Stock-based compensation expense 532,438   532,438                      
Foreign currency translation adjustment (47,501)       (47,501)                  
Net loss (4,903,813)     (4,903,813)                    
Balance at Sep. 30, 2022 12,110,667 $ 1,095 52,222,752 (40,061,534) (51,646)                  
Balance, Shares at Sep. 30, 2022   10,945,904                        
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                        
Issuance of common shares upon exercise of stock options, Shares 750                          
Net loss $ (13,516,243)                          
Balance at Sep. 30, 2023 2,747,712 $ 1,377 60,513,616 (57,723,515) (43,766)                  
Balance, Shares at Sep. 30, 2023   13,761,123                        
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                       $ 4,156,859 $ 256 $ 4,156,603
Issuance of common shares, 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                        
Issuance of restricted stock 194,630 $ 11 194,619                      
Issuance of restricted stock, Shares   111,948                        
Issuance of common shares upon exercise of stock options 1,433 $ 1 1,432                      
Issuance of common shares upon exercise of stock options, Shares   750                        
Stock-based compensation expense 570,916   570,916                      
Foreign currency translation adjustment (17,858)       (17,858)                  
Net loss (4,875,743)     (4,875,743)                    
Balance at Sep. 30, 2023 $ 2,747,712 $ 1,377 $ 60,513,616 $ (57,723,515) $ (43,766)                  
Balance, Shares at Sep. 30, 2023   13,761,123