Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Equity (Tables)

v3.22.2
Shareholders' Equity (Tables)
6 Months Ended
Jun. 30, 2022
Stockholders' Equity Note [Abstract]  
Schedule of stock option 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     596,667               1.95       1.59  
Cancelled    
                         
Outstanding June 30, 2022     4,181,977       7.62     $ 2.53     $ 1.95  
Outstanding June 30, 2022, vested and exercisable     2,722,514       7.10     $ 2.68     $ 2.02  

 

Schedule of black scholes valuation model to determine the fair value of the options issued
    June 30,
2022
 
Fair Value per Share   $ 1.23-2.00  
Expected Term (years)     6.0  
Expected Dividend   $  
Expected Volatility     107.88-108.84 %
Risk free rate     1.89-3.24 %

 

Schedule of stock-based compensation expense
    Three months ended 
June 30,
    Six months ended 
June 30,
 
    2022     2021     2022     2021  
Research and development options expense     52,438       77,177       128,828       143,809  
Total research and development expenses     52,438       77,177       128,828       143,809  
General and administrative options expense     573,378       491,118       1,064,177       898,273  
Stock and warrants issued to consultants and employees     473,906       275,000       890,329       1,125,900  
Total general and administrative expenses     1,047,284       766,118       1,954,506       2,024,173  
Total stock-based compensation expense   $ 1,099,722     $ 843,295     $ 2,083,334     $ 2,167,982  

 

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             
Exercised     (1,865,000 )           $ 0.001          
Outstanding June 30, 2022     12,168,159       3.54     $ 4.03       0.01