Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited)

v3.23.3
Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($)
Common Stock [Member]
Preferred Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
Total
Balances at Dec. 31, 2021 $ 2,003 $ 2,656,713 $ 195,101,611 $ (171,274,128) $ 26,486,199
Balance, shares at Dec. 31, 2021 2,002,946 16,017,000      
Compensation expense relating to option issuances 90,247 90,247
Net loss (4,590,993) (4,590,993)
Balance at Mar. 31, 2022 $ 2,003 $ 2,656,713 195,191,858 (175,865,121) 21,985,453
Balance, shares at Mar. 31, 2022 2,002,946 16,017,000      
Balances at Dec. 31, 2021 $ 2,003 $ 2,656,713 195,101,611 (171,274,128) 26,486,199
Balance, shares at Dec. 31, 2021 2,002,946 16,017,000      
Net loss         $ (12,050,649)
Compensation expense relating to restricted stock issuances, shares         0
Balance at Sep. 30, 2022 $ 2,913 $ 1,592,723 197,002,471 (183,324,777) $ 15,273,330
Balance, shares at Sep. 30, 2022 2,912,949 9,467,000      
Balances at Mar. 31, 2022 $ 2,003 $ 2,656,713 195,191,858 (175,865,121) 21,985,453
Balance, shares at Mar. 31, 2022 2,002,946 16,017,000      
Compensation expense relating to option issuances 278,988 278,988
Net loss (3,589,543) (3,589,543)
Balance at Jun. 30, 2022 $ 2,003 $ 2,656,713 195,470,846 (179,454,664) 18,674,898
Balance, shares at Jun. 30, 2022 2,002,946 16,017,000      
Compensation expense relating to option issuances 468,545 468,545
Net loss (3,870,113) $ (3,870,113)
Compensation expense relating to restricted stock issuances, shares         0
Conversion of Series A preferred stock to common stock $ 400 $ (415,169) 414,769
Conversion of Series A preferred stock to common stock, shares 400,001 (4,000,000)      
Conversion of Series B preferred stock to common stock $ 510 $ (648,821) 648,311
Conversion of Series B preferred stock to common stock, shares 510,002 (2,550,000)      
Balance at Sep. 30, 2022 $ 2,913 $ 1,592,723 197,002,471 (183,324,777) 15,273,330
Balance, shares at Sep. 30, 2022 2,912,949 9,467,000      
Balances at Dec. 31, 2022 $ 2,025 $ 1,592,723 196,977,071 (185,562,517) 13,009,302
Balance, shares at Dec. 31, 2022 2,024,657 9,467,000      
Compensation expense relating to option issuances 79,966 79,966
Net loss (2,844,837) (2,844,837)
Balance at Mar. 31, 2023 $ 2,025 $ 1,592,723 197,057,037 (188,407,354) 10,244,431
Balance, shares at Mar. 31, 2023 2,024,657 9,467,000      
Balances at Dec. 31, 2022 $ 2,025 $ 1,592,723 196,977,071 (185,562,517) 13,009,302
Balance, shares at Dec. 31, 2022 2,024,657 9,467,000      
Net loss         $ (7,908,308)
Compensation expense relating to restricted stock issuances, shares         404,396
Balance at Sep. 30, 2023 $ 2,549 $ 1,592,723 198,372,874 (193,470,825) $ 6,497,321
Balance, shares at Sep. 30, 2023 2,569,385 9,467,000      
Balances at Mar. 31, 2023 $ 2,025 $ 1,592,723 197,057,037 (188,407,354) 10,244,431
Balance, shares at Mar. 31, 2023 2,024,657 9,467,000      
Compensation expense relating to option issuances 63,628 63,628
Net loss (3,050,586) (3,050,586)
Balance at Jun. 30, 2023 $ 2,025 $ 1,592,723 197,120,665 (191,457,940) 7,257,473
Balance, shares at Jun. 30, 2023 2,024,657 9,467,000      
Compensation expense relating to option issuances (1,591) (1,591)
Net loss (2,012,885) (2,012,885)
Compensation expense relating to restricted stock issuances $ 120   404,396   $ 404,516
Compensation expense relating to restricted stock issuances, shares 140,000       404,396
Common stock issued in private placement $ 404   849,404   $ 849,808
Common stock issued in private placement, shares 404,728        
Balance at Sep. 30, 2023 $ 2,549 $ 1,592,723 $ 198,372,874 $ (193,470,825) $ 6,497,321
Balance, shares at Sep. 30, 2023 2,569,385 9,467,000