Annual report pursuant to Section 13 and 15(d)

Share-Based Expense (Tables)

v3.23.1
Share-Based Expense (Tables)
 12 Months Ended
Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Schedule of Share-Based Compensation Expense
             
    Year Ended December 31,  
    2022     2021  
Research and development expenses   $ 86,305     $ 68,208  
General and administrative expenses     425,175       342,229  
    $ 511,480     $ 410,437  
Assumptions used
               
    Year Ended December 31,  
    2022     2021  
Weighted-average expected dividend yield (%)     –       –  
Weighted-average expected volatility (%)     126.51       132.64  
Weighted-average risk-free interest rate (%)     2.90       1.16  
Weighted-average expected life of option (years)     5.72       5.73  
Weighted-average exercise price ($)     0.83       2.15  
Schedule of option activity
                         
    Number of
shares		     Weighted-
average
exercise
price		     Weighted-
average
remaining
life
(years)		     Aggregate
intrinsic
value		  
Outstanding as of January 1, 2021   763,722     $ 8.01       8.68     $ 498,625  
Granted   325,000       2.15                  
Expired   –       –                  
Outstanding as of December 31, 2021   1,088,722     $ 6.26       8.22     $ 23,750  
Granted   350,000       0.83                  
Expired   –       –                  
Outstanding as of December 31, 2022   1,438,722     $ 4.94       7.78     $ –  
                               
Vested or expected to vest as of December 31, 2022   1,438,722     $ 4.94       7.78     $ –  
                               
Exercisable as of December 31, 2021   630,357     $ 9.42       7.63     $ 23,750  
Exercisable as of December 31, 2022   1,005,384     $ 6.56       7.14     $ –  
Schedule of non-vested options
             
    Number of
shares		     Weighted-
average
grant date
fair value		  
Balance as of January 1, 2022   458,365     $ 1.73  
Granted   350,000     $ 0.73  
Forfeited   –     $ –  
Vested   (375,027 )   $ 1.59  
Balance as of December 31, 2022   433,338     $ 1.04  
Common stock awards granted and issued
       
    Number of shares  
Balance as of January 1, 2021   7,406  
Granted   –  
Issued   (7,153 )
Balance as of December 31, 2021   253  
Granted   –  
Issued   –  
Balance as of December 31, 2022   253  
Non Employee Stock Options [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Schedule of option activity
                         
    Number of
shares		     Weighted-
average
exercise
price		     Weighted-
average
remaining
life
(years)		     Aggregate
intrinsic
value		  
Outstanding as of January 1, 2021   20,318     $ 14.61       3.79     $ 14,880  
Granted   –       –                  
Expired   (243 )     225.72                  
Outstanding as of December 31, 2021   20,075       12.06       2.83     $ 3,255  
Granted   –       –                  
Expired   –       –                  
Outstanding as of December 31, 2022   20,075     $ 12.06       1.83     $ –  
                               
Vested or expected to vest as of December 31, 2022   20,075     $ 12.06       1.83     $ –  
                               
Exercisable as of December 31, 2021   20,075     $ 12.06       2.83     $ 3,255  
Exercisable as of December 31, 2022   20,075     $ 12.06       1.83     $ –