Condensed Consolidated Statements of Operations (Unaudited) - USD ($) |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2023 |
Sep. 30, 2022 |
Sep. 30, 2023 |
Sep. 30, 2022 |
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Income Statement [Abstract] | ||||
Revenue | $ 181,535 | $ 76,012 | $ 495,248 | $ 137,821 |
Direct cost of revenue | 50,989 | 15,503 | 139,875 | 26,528 |
Gross profit | 130,546 | 60,509 | 355,373 | 111,293 |
Operating expenses: | ||||
Professional fees (includes related party amounts of $72,000, $163,200, $216,000 and $266,400 respectively) | 921,552 | 303,574 | 1,818,202 | 1,721,479 |
Salary expenses | 329,564 | 330,221 | 931,536 | 2,147,967 |
Research and development | 492,235 | 708,220 | 1,789,625 | 3,297,986 |
Stock-based compensation | 86,132 | 271,517 | 457,860 | 1,664,191 |
Depreciation and amortization | 210,293 | 210,361 | 630,924 | 631,083 |
Royalty expense | 13,014 | 211,262 | ||
Other general and administrative expenses | 2,934,966 | 469,656 | 6,310,039 | 1,478,726 |
Total operating expenses | 4,987,756 | 2,293,549 | 12,149,448 | 10,941,432 |
Total operating loss | (4,857,210) | (2,233,040) | (11,794,075) | (10,830,139) |
Other income (expense) | ||||
Interest and accretion expenses | (7,405,668) | (810,598) | (22,527,538) | (1,640,368) |
Change in fair value of contingent liabilities | (1,678,000) | 1,491,000 | 312,000 | (2,131,000) |
Change in fair value of derivative liabilities | (14,454,397) | (14,454,397) | ||
Loss on debt extinguishment | (80,001) | (764,683) | ||
Loss on issuance of debt | (3,974,993) | (6,352,562) | ||
Total other income (expense) | (27,593,059) | 680,402 | (43,787,180) | (3,771,368) |
Net loss | $ (32,450,269) | $ (1,552,638) | $ (55,581,255) | $ (14,601,507) |
Loss per share - basic | $ (0.71) | $ (0.04) | $ (1.28) | $ (0.36) |
Loss per share - diluted | $ (0.71) | $ (0.04) | $ (1.28) | $ (0.36) |
Weighted average number of shares of common stock outstanding - basic | 45,812,412 | 40,828,188 | 43,270,975 | 40,762,254 |
Weighted average number of shares of common stock outstanding - diluted | 45,812,412 | 40,828,188 | 43,270,975 | 40,762,254 |
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- Definition Gain loss on fair value of contingent liabilities. No definition available.
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- Definition Interest and accretion expenses other. No definition available.
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- Definition Loss on issuance of debt. No definition available.
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- Definition The aggregate cost of goods produced and sold and services rendered during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of increase (decrease) in the fair value of derivatives recognized in the income statement. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of noncash expense (reversal of expense) for employee benefits and share-based payment arrangement. Includes, but is not limited to, pension, other postretirement, postemployment and termination benefits. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of general and administrative expense classified as other. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of expense related to royalty payments under a contractual arrangement such as payment for mineral and drilling rights and use of technology or intellectual property. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of expense for salary and wage arising from service rendered by nonofficer employee. Excludes allocated cost, labor-related nonsalary expense, and direct and overhead labor cost included in cost of good and service sold. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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