Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Equity (Tables)

v3.22.2.2
Shareholders' Equity (Tables)
9 Months Ended
Sep. 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     731,667               1.70       1.39  
Cancelled    
                         
Outstanding September 30, 2022     4,316,977       7.47     $ 2.48     $ 1.91  
Outstanding September 30, 2022, vested and exercisable     2,987,820       6.95     $ 2.63     $ 1.99  

 

Schedule of black scholes valuation model to determine the fair value of the options issued
    September 30,
2022
 
Fair Value per Share   $ 0.59-2.00  
Expected Term (years)     6.0  
Expected Dividend   $  
Expected Volatility     107.88-116.54 %
Risk free rate     1.89-3.26 %

 

Schedule of stock-based compensation expense
    Three months ended
September 30,
    Nine months ended
September 30,
 
    2022     2021     2022     2021  
Research and development options expense     51,799       79,604       180,627       223,413  
Total research and development expenses     51,799       79,604       180,627       223,413  
General and administrative options expense     426,069       468,281       1,490,246       1,289,192  
Stock and warrants issued to consultants and employees     79,147       640,992       969,476       1,844,254  
Total general and administrative expenses     505,216       1,109,273       2,459,722       3,133,446  
Total stock-based compensation expense   $ 557,015     $ 1,188,877     $ 2,640,349     $ 3,356,859  

 

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 September 30, 2022     12,168,159       3.29     $ 4.03       0.01