XML 25 R2.htm IDEA: XBRL DOCUMENT v3.24.0.1
Balance Sheets - USD ($)
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 1,885,628 $ 1,853,362
Accounts receivable (including amounts of related party of nil and $177,595 as of December 31 2023 and 2022, respectively) 455 201,546
Inventory, net 167,593 595,222
Other current assets 419,521 195,787
Total current assets 2,473,197 2,845,917
Intangible assets, net 28,283,208 32,806,738
Property and equipment, net 876,572 1,375,676
Other assets 208,827 80,683
Total assets 31,841,804 37,109,014
Contract liabilities 112,555 0
Convertible notes payable, related party 0 376,526
Other notes payable, related party 42,000 884,000
Accrued expenses and other current liabilities 1,182,283 1,212,386
Total current liabilities 1,336,838 2,472,912
Senior secured convertible notes measured at fair value 2,651,556 0
Convertible notes payable - noncurrent (including amounts of related party of $2,000,000 and nil as of December 31, 2023 and 2022, respectively) 3,000,000 0
Other notes payable, related party - noncurrent 270,000 0
Other long-term liabilities 135,829 8,096
Total liabilities 7,394,223 2,481,008
Stockholders' equity:    
Preferred stock, $0.01 par value; 50,000,000 shares and 10,000,000 shares authorized as of December 31, 2023 and 2022, respectively; none issued and outstanding 0 0
Common stock, $0.01 par value; 300,000,000 shares authorized as of December 31, 2023 and 2022; 4,677,787 shares and 4,002,320 shares issued and outstanding as of December 31, 2023 and 2022, respectively 46,778 40,023
Common stock to be issued, 162,337 shares and nil as of December 31, 2023 and 2022, respectively 1,623 0
Additional paid-in capital 62,555,808 58,905,242
Accumulated deficit (37,886,155) (24,115,606)
Accumulated other comprehensive loss - translation adjustment (270,473) (201,653)
Total stockholders' equity 24,447,581 34,628,006
Total liabilities and stockholders' equity $ 31,841,804 $ 37,109,014