v3.22.2.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 8 Months Ended 9 Months Ended 12 Months Ended
Dec. 31, 2020
Sep. 30, 2022
Sep. 30, 2021
Dec. 31, 2021
Cash flows from operating activities:        
Net loss $ (2,530,462) $ (9,621,963) $ (8,126,451) $ (11,986,837)
Adjustments to reconcile net loss to net cash used in operating activities:        
Stock-based compensation expense 29,232 268,755 364,966 470,878
Depreciation expense 18,786 10,520 16,782
Non-cash lease expense 14,960 37,736 52,384
Changes in operating assets and liabilities:        
Prepaid expenses (128,000)     (509,342)
Prepaid expenses and other current assets   332,548 (1,436,642)  
Accounts payable 865,901 (736,246) 165,200 (269,640)
Accrued payroll and related expenses 266,852     489,877
Accrued expenses 76,023 (568,937) 807,324 695,917
Operating lease liability (16,752) (34,319) (50,592)
Accrued interest on Promissory Notes Payable & Convertible Note   36,920  
Net cash used in operating activities (1,420,454) (10,271,929) (8,211,666) (11,090,573)
Cash flows from investing activities:        
Purchase of property and equipment (148,116) (131,963)
Net cash used in investing activities (148,116) (131,963)
Cash flows from financing activities:        
Proceeds from the Convertible Note   2,500,000  
Repayment of the Convertible Note   (2,500,000)  
Proceeds from the Business Combination, net   11,923,499  
Proceeds from the PIPE Investment, net   7,262,219  
Proceeds from Rollover Warrant exercise   5,074  
Repurchase for the Forward Share Purchase Agreement exercise   (7,652,325)  
Repayments of Promissory Notes Payable, including interest   (796,882)  
Proceeds from Pre-Funded Warrants exercise   13  
Proceeds from the July 2022 Public Offering, net   4,451,048  
Proceeds from issuance of common stock, net 5,509,121 599,996 599,996
Proceeds from issuance of Series A Preferred Stock, net 403,733 3,499,997 3,499,997
Proceeds from issuance of Series A-1 Preferred Stock, net 3,904,872 3,904,872
Net cash provided by financing activities 5,912,854 15,192,646 8,004,865 8,004,865
Net increase (decrease) in cash and cash equivalents   4,920,717 (354,917)  
Net (decrease) increase in cash and cash equivalents 4,492,400     (3,217,671)
Cash and cash equivalents at beginning of period 1,274,729 4,492,400 4,492,400
Cash and cash equivalents at end of period 4,492,400 6,195,446 4,137,483 1,274,729
Supplemental disclosure of non-cash investing and financing activities:        
Current liabilities assumed in the Business Combination   2,149,432  
Deferred underwriting commissions assumed in the Business Combination   2,911,260  
Conversion of Series A Preferred Stock to common stock   3,903,730  
Conversion of Series A-1 Preferred Stock to common stock   3,578,197  
Equity Issuance for fees in connection with the Business Combination   300  
Issuance of Common Warrants in connection with the PIPE Investment   3,634,262  
Issuance of Placement Agent Warrants in connection with the PIPE Investment   508,797  
Premium Financing Agreement - D&O Insurance   513,333  
Conversion of Accrued Expenses to Equity in connection with the Business Combination   749,700  
Issuance of New Common Stock Warrants in connection with the July 2022 Public Offering   4,490,457  
Issuance of New Placement Agent Warrants in connection with the July 2022 Public Offering   310,137  
Acquisition of right-of-use asset through operating lease obligation 67,344 67,344
Issuance of warrants in connection with Series A-1 Preferred Stock $ 326,675 $ 326,675