Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Equity (Tables)

v3.22.1
Shareholders' Equity (Tables)
3 Months Ended
Mar. 31, 2022
Stockholders' Equity Note [Abstract]  
Schedule of stock options activity
    Total
Options
Outstanding
    Weighted
Average
Remaining
Term
(Years)
    Weighted
Average
Exercise
Price
    Weighted
Average
Fair Value
at Issue
 
Outstanding December 31, 2021     3,585,310       7.80     $ 2.64     $ 2.02  
Issued     561,667               2.00       1.63  
Cancelled    
                         
Outstanding March 31, 2022     4,146,977       7.87     $ 2.56     $ 1.97  
Outstanding March 31, 2022, vested and exercisable     2,465,264       7.25     $ 2.73     $ 2.06  

 

Schedule of black scholes valuation model to determine the fair value of the options issued
    March 31,
2022
 
Fair Value per Share   $ 2.00  
Expected Term     6.5  
Expected Dividend   $
 
Expected Volatility     107.88 %
Risk free rate     1.89 %

 

Schedule of stock-based compensation expense
    Three months ended 
March 31,
 
    2022     2021  
Research and development options expense   $ 76,390     $ 66,631  
Total research and development expenses     76,390       66,631  
General and administrative options and warrants expense     490,799       407,156  
Stock issued to consultants and employees     416,423       850,900  
Total general and administrative expenses     907,222       1,258,056  
Total stock-based compensation expense   $ 983,612     $ 1,324,687  

 

Schedule of activity in warrants
   

Total

Warrants

    Weighted
Average
Remaining
Term
(Years)
   

Weighted

Average

Exercise

Price

    Average
Intrinsic
Value
 
Outstanding December 31, 2021     7,990,271       2.63     $ 4.82       0.14  
Issued     6,042,888             $ 1.74          
Outstanding March 31, 2022     14,033,159       3.07     $ 3.49       0.27