INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2022

INCOME TAXES

Schedule of components of net deferred income tax asset

	December 31, 2022		December 31, 2021
Deferred tax assets
Net operating loss carry forwards	$	3,359,183	$	1,594,650
Share-based compensation		2,262,381		1,149,720
Research and development credit carryforwards		141,671		105,881
Capitalized research and development		1,347,028		—
Gross deferred tax assets		7,110,263		2,850,251
Less valuation allowance		(7,110,263)		(2,850,251)
Net deferred tax asset	$	—	$	—

Summary of reconciliation of income tax expense (benefit)

	December 31, 2022		December 31, 2021
Federal income tax expense at statutory rate	21.0	%	21.0	%
State income tax, net of federal benefit	14.4		5.1
Permanent differences	(0.5)		—
Research and development tax credit	0.3		1.0
Change in valuation allowance	(35.2)		(27.1)
Effective income tax rate	—	%	—	%