Quarterly report pursuant to Section 13 or 15(d)

Schedule of Effect of Restatement on Financial Statements (Details)

v3.23.1
Schedule of Effect of Restatement on Financial Statements (Details) - USD ($)
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
Dec. 31, 2020
Current assets:        
Cash and cash equivalents $ 21,372,463   $ 27,265,703  
 Other receivables   6,987  
Prepaid expenses and other current assets 1,721,874   434,699  
Total current assets 23,094,337   27,707,389  
Property and equipment, net 121,845   45,708  
Operating lease right-of-use assets 431,961   477,882  
Total assets 23,648,143   28,230,979  
Current liabilities:        
Accounts payable and accrued expenses 1,094,052   947,574  
Short-term notes payable 122,175   303,416  
Operating lease liabilities 192,535   194,270  
Total current liabilities 1,408,762   1,445,260  
Long-term liabilities:        
Operating lease liabilities 253,928   299,520  
Total long-term liabilities 253,928   299,520  
Shareholders’ equity:        
Preferred stock, no par value; 50,000,000 shares authorized; 9,417,000 Series A shares, 6,600,000 Series B shares, issued and outstanding at March 31, 2022 and December 31, 2021, respectively 2,656,713   2,656,713  
Common stock, $0.001 par value; 250,000,000 and 200,000,000 shares authorized at March 31, 2022 and December 31, 2021, respectively, 116,394,806 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively 116,395   116,395  
Additional paid-in capital 195,077,466   194,987,219  
Accumulated deficit (175,865,121)   (171,274,128)  
Total shareholders’ equity 21,985,453 $ 36,050,467 26,486,199 $ 16,844,595
Total liabilities and shareholders’ equity 23,648,143   $ 28,230,979  
Grant revenue 15,083    
Operating expenses:        
Research and development 3,293,661 3,260,904    
General and administrative 1,331,549 1,976,576    
Total operating expenses 4,625,210 5,237,480    
Loss from operations (4,610,127) (5,237,480)    
Other income (expense):        
Interest income 11,906 20,033    
Interest expense (3,246) (2,568)    
Local business tax (490) (600)    
Miscellaneous income 10,964 670    
Total other income, net 19,134 17,535    
Loss before income taxes (4,590,993) (5,219,945)    
Income tax benefit    
Net loss $ (4,590,993) $ (5,219,945)    
Basic and diluted net loss per share $ (0.04) $ (0.05)    
Shares used to compute basic and diluted net loss per share 116,394,806 102,973,369    
Cash flows from operating activities:        
Net loss $ (4,590,993) $ (5,219,945)    
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation and amortization 8,468 12,725    
Gain on sale of property and equipment (10,964)    
Stock-based compensation expense 90,247 1,123,761    
Changes in operating assets and liabilities:        
Other receivables 6,987    
Prepaid expenses and other current assets (1,287,175) 120,311    
Accounts payable and accrued expenses 146,478 (364,281)    
Net cash used in operating activities (5,636,952) (4,327,429)    
Cash flows from investing activities:        
Proceeds from sale of property and equipment 12,000    
Purchase of property and equipment (87,047)    
Net cash used in investing activities (75,047)    
Cash flows from financing activities:        
Payments on short-term notes payable (181,241) (113,346)    
Redemption of Series C Preferred stock (5,635,672)    
Proceeds from issuance of common stock for warrant exercise 2,261,336    
Net proceeds from issuance of common stock 26,676,392    
Net cash provided by (used in) financing activities (181,241) 23,188,710    
Net increase (decrease) in cash and cash equivalents (5,893,240) 18,861,281    
Cash and cash equivalents at beginning of period 27,265,703 17,639,575    
Cash and cash equivalents at end of period 21,372,463 36,500,856    
Supplemental disclosure of cash flow information:        
Interest paid 3,246 2,568    
Non-cash investing and financing activities:        
Stock dividend on Series C Preferred stock $ 1,117,531    
Series B Preferred Stock [Member]        
Shareholders’ equity:        
Preferred stock, shares outstanding 6,600,000   6,600,000  
Preferred stock, shares issued 6,600,000   6,600,000  
Previously Reported [Member]        
Current assets:        
Cash and cash equivalents $ 21,372,463      
 Other receivables      
Prepaid expenses and other current assets 277,473      
Total current assets 21,649,936      
Property and equipment, net 121,845      
Operating lease right-of-use assets 431,961      
Total assets 22,203,742      
Current liabilities:        
Accounts payable and accrued expenses 1,094,052      
Short-term notes payable 122,175      
Operating lease liabilities 192,535      
Total current liabilities 1,408,762      
Long-term liabilities:        
Operating lease liabilities 253,928      
Total long-term liabilities 253,928      
Shareholders’ equity:        
Preferred stock, no par value; 50,000,000 shares authorized; 9,417,000 Series A shares, 6,600,000 Series B shares, issued and outstanding at March 31, 2022 and December 31, 2021, respectively 2,656,713      
Common stock, $0.001 par value; 250,000,000 and 200,000,000 shares authorized at March 31, 2022 and December 31, 2021, respectively, 116,394,806 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively 116,395      
Additional paid-in capital 195,077,466      
Accumulated deficit (177,309,522)      
Total shareholders’ equity 20,541,052      
Total liabilities and shareholders’ equity 22,203,742      
Grant revenue 15,083      
Operating expenses:        
Research and development 4,738,062      
General and administrative 1,331,549      
Total operating expenses 6,069,611      
Loss from operations (6,054,528)      
Other income (expense):        
Interest income 11,906      
Interest expense (3,246)      
Local business tax (490)      
Miscellaneous income 10,964      
Total other income, net 19,134      
Loss before income taxes (6,035,394)      
Income tax benefit      
Net loss $ (6,035,394)      
Basic and diluted net loss per share $ (0.05)      
Shares used to compute basic and diluted net loss per share 116,394,806      
Cash flows from operating activities:        
Net loss $ (6,035,394)      
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation and amortization 8,468      
Gain on sale of property and equipment (10,964)      
Stock-based compensation expense 90,247      
Changes in operating assets and liabilities:        
Other receivables 6,987      
Prepaid expenses and other current assets 157,226      
Accounts payable and accrued expenses 146,478      
Net cash used in operating activities (5,636,952)      
Cash flows from investing activities:        
Proceeds from sale of property and equipment 12,000      
Purchase of property and equipment (87,047)      
Net cash used in investing activities (75,047)      
Cash flows from financing activities:        
Payments on short-term notes payable (181,241)      
Redemption of Series C Preferred stock      
Proceeds from issuance of common stock for warrant exercise      
Net proceeds from issuance of common stock      
Net cash provided by (used in) financing activities (181,241)      
Net increase (decrease) in cash and cash equivalents (5,893,240)      
Cash and cash equivalents at beginning of period 27,265,703      
Cash and cash equivalents at end of period 21,372,463      
Supplemental disclosure of cash flow information:        
Interest paid 3,246      
Non-cash investing and financing activities:        
Stock dividend on Series C Preferred stock      
Revision of Prior Period, Adjustment [Member]        
Current assets:        
Cash and cash equivalents      
 Other receivables      
Prepaid expenses and other current assets 1,444,401      
Shareholders’ equity:        
Accumulated deficit 1,444,401      
Grant revenue      
Operating expenses:        
Research and development (1,444,401)      
Other income (expense):        
Net loss 1,444,401      
Cash flows from operating activities:        
Net loss 1,444,401      
Changes in operating assets and liabilities:        
Prepaid expenses and other current assets (1,444,401)      
Cash flows from financing activities:        
Cash and cash equivalents at beginning of period      
Cash and cash equivalents at end of period