Income Taxes (Tables)

6 Months Ended

Jun. 30, 2023

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

Income tax expense differed from the expected expense computed by applying the U.S. Federal income tax rate as follows:

	Three Months Ended June 30, 2023						Six Months Ended June 30, 2023
Federal income tax benefit at statutory rate	$	(1,389,425	)	$	(848,475	)	$	(2,230,451	)	$	(1,888,057	)
State income tax benefit		(365,882	)		(223,432	)		(587,352	)		(497,189	)
Permanent differences		4,634			3,098			8,303			8,763
Change in valuation allowance		1,780,851			1,077,408			2,871,687			2,439,294
Other		(30,178	)		(8,599	)		(62,187	)		(62,811	)
Total income tax expense	$	-		$	-		$	-		$	-

Schedule of Deferred Tax Assets and Liabilities

	June 30, 2023			December 31, 2022
Deferred income tax assets:
Current:
Research and development costs	$	620,738		$	343,087
Other		59,018			59,018
Non-current:
Net operating losses		5,223,238			3,381,215
Research and development costs		2,900,375			1,762,716
Research and development tax credit		131,681			-
Unvested stock options		341,951			204,380
Patents		86,617			92,417
Right-of-use assets		51,807			63,563
Gross deferred income tax assets		9,415,425			5,906,396
Less: valuation allowance		(8,770,634	)		(5,580,595	)
Net deferred income tax asset		644,791			325,801
Deferred income tax liabilities:
Current:
Accrual to cash		(7,694	)		(11,228	)
Non-current
Property and equipment		(637,097	)		(314,573	)
Gross deferred income tax liabilities		(644,791	)		(325,801	)
Net deferred tax asset (liability)	$	-		$	-