Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Changes in Stockholders??? Equity (Deficit)

v3.25.1
Consolidated Statements of Changes in Stockholders’ Equity (Deficit) - USD ($)
Preferred Stock
Series B
Common Stock
Additional Paid-in Capital
Accumulated Other Comprehensive Income
Accumulated Deficit
Total
Balance at Dec. 31, 2022 $ 20 $ 121,637,966 $ (2,885,523) $ (107,408,545) $ 11,343,918
Balance (in Shares) at Dec. 31, 2022 197,209        
Adjustment related to reverse stock split $ 1 (1)
Adjustment related to reverse stock split (in Shares) 37        
Shares issued for professional services to directors 60,624 60,624
Shares issued for professional services to directors (in Shares) 4,763        
Shares issued for professional services to executive chairman $ 1 28,564 28,565
Shares issued for professional services to executive chairman (in Shares) 7,126        
Issuance of April 2023 pre-funded and common warrants, net [1] 2,337,706 2,337,706
Shares issued from exercise of April 2023 pre-funded warrants [1] $ 6 111 117
Shares issued from exercise of April 2023 pre-funded warrants (in Shares) [1] 61,615        
Shares issued in connection with April 2023 Offering [1] $ 2 382,180 382,182
Shares issued in connection with April 2023 Offering (in Shares) [1] 21,053        
Issuance of August 2023 pre-funded and common warrants, net [2] 2,459,282 2,459,282
Shares issued from exercise of August 2023 pre-funded warrants [2] $ 20 375 395
Shares issued from exercise of August 2023 pre-funded warrants (in Shares) [2] 207,814        
Shares issued in connection with August 2023 Offering [2] $ 4 245,344 245,348
Shares issued in connection with August 2023 Offering (in Shares) [2] 35,102        
Issuance of pre-funded and common warrants from Amendment to August 2023 SPA, net 770,923 770,923
Stock based compensation 2,194,135 2,194,135
Comprehensive loss:            
Net loss (19,935,112) (19,935,112)
Other comprehensive loss (15,816) (15,816)
Balance at Dec. 31, 2023 $ 54 130,117,209 (2,901,339) (127,343,657) (127,733)
Balance (in Shares) at Dec. 31, 2023 534,719        
Shares issued from exercise of pre-funded warrants related to Amendment to August 2023 Offering $ 26 463 489
Shares issued from exercise of pre-funded warrants related to Amendment to August 2023 Offering (in Shares) 257,505        
Adjustment related to reverse stock split $ 6 (6)
Adjustment related to reverse stock split (in Shares) 60,848        
Shares issued in connection with December 2024 Offering $ 120 2,572,669 2,572,789
Shares issued in connection with December 2024 Offering (in Shares) 1,200,000        
Shares issued from exercise of warrants $ 95 2,797,841 2,797,936
Shares issued from exercise of warrants (in Shares) 950,069        
Shares issued for settlement of liabilities $ 17 684,654 684,671
Shares issued for settlement of liabilities (in Shares) 174,158        
Shares issued for professional services to directors (in Shares)   734,262        
Stock based compensation 308,169 308,169
Warrants and Series B Convertible Preferred Stock issued for asset acquisition 4,849,346 4,849,346
Reclassification of Series B Convertible Preferred Stock liability $ 100 4,349,900 4,350,000
Reclassification of Series B Convertible Preferred Stock liability (in Shares) 1,000,000        
Deemed dividend from warrant inducement 8,011,510 (8,011,510)
Comprehensive loss:            
Net loss (6,168,177) (6,168,177)
Other comprehensive loss (15,579) (15,579)
Balance at Dec. 31, 2024 $ 100 $ 318 $ 153,691,755 $ (2,916,918) $ (141,523,344) $ 9,251,911
Balance (in Shares) at Dec. 31, 2024 1,000,000 3,176,999        
[1] Consists of $2,999,882 of gross proceeds from the April 2023 Offering (defined below); gross proceeds of $421,527 are related to common shares issued (with related placement agent fees of $39,343), gross proceeds of $1,233,564 are related to pre-funded warrants issued (with related placement agent fees of $115,134) and gross proceeds of $1,344,791 are related to common warrants issued (with related placement agent fees of $125,516). At the end of the current period, all 61,615 April 2023 pre-funded warrants were exercised for proceeds of $117.
[2] Consists of $2,999,605 of gross proceeds from the August 2023 Offering (defined below); gross proceeds of $272,106 are related to common shares issued (with related placement agent fees of $26,758), gross proceeds of $1,449,470 are related to pre-funded warrants issued (with related placement agent fees of $142,538) and gross proceeds of $1,278,029 are related to common warrants issued (with related placement agent fees of $125,679). At the end of the year, 207,814 August 2023 pre-funded warrants were exercised for proceeds of $395.