| Schedule of Warrants Activity |
A
summary of activity regarding all warrants issued for the nine months ended September 30, 2024 were as follows:
Schedule of Warrants Activity
| | |
Number of | | |
Weighted Average | | |
Average | |
| | |
warrants | | |
Exercise Price | | |
Life (years) | |
| Outstanding, December 31, 2023 | |
| 184,000 | | |
$ | 23.20 | | |
| 2.77 | |
| Granted | |
| - | | |
| - | | |
| - | |
| Outstanding, September 30, 2024 | |
| 184,000 | | |
$ | 11.54 | | |
| 2.04 | |
|
A
summary of activity regarding all warrants issued for the year ended December 31, 2023 and 2022 were as follows:
Schedule of Warrants Activity
| | |
Number of | | |
Weighted Average | | |
Weighted Average | |
| | |
Warrants | | |
Exercise Price | | |
Life (years) | |
| | |
(as restated) | | |
(as restated) | | |
(as restated) | |
| Outstanding, December 31, 2021 | |
| 62,500 | | |
$ | 8.00 | | |
| 4.99 | |
| Granted(1) | |
| 270,910 | | |
| 14.57 | | |
| 4.68 | |
| Exercised(2) | |
| (285,579 | ) | |
| 9.58 | | |
| — | |
| Outstanding, December 31, 2022 | |
| 47,831 | | |
| 35.77 | | |
| 2.78 | |
| Granted - Boustead | |
| 8,909 | | |
| 18.80 | | |
| 5.00 | |
| Granted - Ayrton | |
| 127,260 | | |
| 18.80 | | |
| 4.00 | |
| Outstanding, December 31, 2023 | |
| 184,000 | | |
| 23.21 | | |
| 2.77 | |
| |
(1) |
Granted
warrants include those granted on the issuance of the August 2022 Promissory Notes (3,750 warrants); Notes Payable – Related
Parties (2,500 warrants); upon conversion of the
Series A Preferred Shares (42,114 warrants);
automatic conversion of the 2022 Convertible Notes (18,447 warrants); issued during the IPO, including overallotment option (176,222 warrants) and issued to Boustead Securities LLC (27,877 warrants). |
| |
(2) |
Exercised warrants include the exercise of the warrants
issued with the December 2021 Notes (62,500
warrants); the exercise of the warrants issued with the August 2022 Notes (3,750
warrants); the exercise of the warrants issued upon conversion of the Convertible Notes (18,447
warrants); and the exercise of the warrants issued during the IPO, including overallotment option (176,222
warrants), and warrants exercised on a cashless basis (24,660
warrants). |
|
| Schedule of Restricted Stock Units (RSUs) |
A
summary of activity regarding the Restricted Stock Units issued follows:
Schedule of Restricted Stock Units (RSUs)
| | |
Number of RSU | | |
Weighted Average Fair Value Per RSU | |
| Outstanding, December 31, 2023 | |
| 24,731 | | |
$ | 11.76 | |
| Granted | |
| 53,455 | | |
| 2.65 | |
| Forfeiture | |
| (12,500 | ) | |
| - | |
| Vested | |
| (24,348 | ) | |
| 9.06 | |
| Outstanding, September 30, 2024 | |
| 41,338 | | |
$ | 5.14 | |
|
A
summary of activity regarding the Restricted Stock Units issued follows:
Schedule of Restricted Stock Units (RSUs)
| | |
Number of Shares | | |
Weighted Average Grant Date Fair Value Per Share | |
| Outstanding, December 31, 2021 (as restated) | |
| 2,017 | | |
$ | 185.60 | |
| Granted | |
| 4,449 | | |
| 22.48 | |
| Vested (as restated) | |
| (3,500 | ) | |
| 116.48 | |
| Outstanding, December 31, 2022 (as restated) | |
| 2,966 | | |
$ | 22.48 | |
| Granted | |
| 32,415 | | |
| 10.88 | |
Vested (as restated) | |
| (10,650 | ) | |
| 12.00 | |
| Outstanding, December 31, 2023 | |
| 24,731 | | |
$ | 11.76 | |
|
| Schedule of Compensation Expense of Restricted Stock Units |
|
Schedule
of Compensation Expense of Restricted Stock Units
| | |
2023 | |
2022 |
| | |
Year ended December 31, |
| | |
2023 | |
2022 |
| | |
| |
(as restated) |
| Recognized in general and administrative expense | |
$ | 115,000 | | |
$ | 105,582 | |
| Recognized in research and development expense | |
| 66,960 | | |
| 131,965 | |
| Total | |
$ | 181,960 | | |
$ | 237,547 | |
|