Common Stock Purchase Warrants (Tables)

12 Months Ended

Dec. 31, 2021

Common Stock Purchase Warrants

Summary of Outstanding Warrants

The following table summarizes the Company’s outstanding warrants as of December 31, 2021:

					Grant Date		Grant Date
	Number of		Exercise		Fair Value		Fair Value
	Warrants		Price		per Warrant		Total
Balance- December 31, 2020
Underwritten public offering		4,791,665	$	6.00	$	4.77	$	22,856,242
Issuance of underwriter warrants		208,333	$	7.50	$	4.64		966,665
Balance- December 31, 2021		4,999,998					$	23,822,907

Schedule of Fair Value of Warrants to Additional Paid in Capital

			Percent
	Fair		of Total			Amount
	Value		Fair Value			Allocated
Common Stock	$	25,000,000		51.2	%	$	12,800,000
Common Stock Purchase Warrants		23,822,907		48.8	%		12,200,000
Total	$	48,822,907		100	%	$	25,000,000