Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2022 |
Jun. 30, 2021 |
Jun. 30, 2022 |
Jun. 30, 2021 |
|
| Operating expenses: | ||||
| Research and development | $ 3,229,584 | $ 754,302 | $ 5,132,416 | $ 973,893 |
| General and administrative | 1,635,065 | 351,114 | 3,670,751 | 699,492 |
| Total operating expenses | 4,864,649 | 1,105,416 | 8,803,167 | 1,673,385 |
| Loss from operations | (4,864,649) | (1,105,416) | (8,803,167) | (1,673,385) |
| Other income (expense): | ||||
| Interest expense, net | 134,291 | 133,686 | 282,064 | 135,405 |
| Change in fair value of financial instruments | 930,193 | 1,013,880 | 2,910,865 | (4,523,685) |
| Gain on extinguishment of convertible debt and derivative liability | 1,307,421 | 1,307,421 | ||
| Other income/(expense) | 16,288 | (321) | 27,062 | (2,379) |
| Total other income (expense), net | 2,119,611 | 879,873 | 3,963,284 | (4,661,469) |
| Net loss | (2,745,038) | (225,543) | (4,839,883) | (6,334,854) |
| Other comprehensive gain/(loss): | ||||
| Gain/(loss) on foreign currency translation | 1,636 | (91,842) | 49,477 | (145,217) |
| Comprehensive loss | $ (2,743,402) | $ (317,385) | $ (4,790,406) | $ (6,480,071) |
| Net loss per Common Share, basic | $ (0.38) | $ (0.06) | $ (0.67) | $ (1.30) |
| Net loss per Common Share, diluted | $ (0.38) | $ (0.06) | $ (0.67) | $ (1.30) |
| Weighted-average Common Shares, basic | 7,195,529 | 5,099,172 | 7,195,529 | 5,000,935 |
| Weighted-average Common Shares, diluted | 7,195,529 | 5,099,172 | 7,195,529 | 5,000,935 |
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- Definition Amount of gain (loss) from change in fair value of financial instruments. No definition available.
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- Definition Difference between the fair value of payments made and the carrying amount of debt and derivative liability which is extinguished prior to maturity. No definition available.
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount after tax and reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature, attributable to parent entity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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