Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Taxes [Abstract]

Schedule of Company’s Loss Before Income Taxes from Us and Foreign Sources

The Company’s loss before income taxes from US and Foreign sources for the years ended December 31, 2023 and 2022, are as follows:

	2023			2022
United States		(19,417,471	)		(25,424,002	)
Outside United States		12,356			1,208,777
Loss before income taxes		(19,405,115	)		(24,215,225	)

Schedule of the U.S. Federal Statutory Tax Rate and the Company’s Effective Tax Rate

The following table summarizes the significant differences between the U.S. Federal statutory tax rate and the Company’s effective tax rate for financial statement purposes for the years ended December 31, 2023 and 2022:

	2023			2022
US Federal statutory federal income tax		21.00	%		21.00	%
State taxes		1.96	%		-2.52	%
Loss on debt extinguishment		-8.09	%
Other deferred adjustments		-0.53	%		3.03	%
R&D credit		1.75	%		0.00	%
Change in valuation allowance		-16.09	%		-21.57	%
Total income tax provision		0.00	%		-0.06	%

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to deferred tax assets and liabilities as of December 31, 2023 and 2022 are summarized as follows:

	2023			2022
Deferred tax assets
Net operating loss		17,231,979			14,997,873
Stock options		7,529,725			7,450,914
Federal tax credits		676,539			336,475
Basis difference in intangible and fixed assets		1,273,449			963,784
Accrued payroll		136,961			11,203
Accounting reserves		33,599			-
Capital loss		350,418			350,526
Valuation allowance		(27,232,670	)		(24,110,775	)
Deferred tax assets, net		-			-