Annual report pursuant to Section 13 and 15(d)

Share-Based Expense (Tables)

v3.24.1
Share-Based Expense (Tables)
 12 Months Ended
Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Schedule of Share-Based Compensation Expense
           
    Year Ended December 31,  
    2023     2022  
Research and development expenses   $ 56,112     $ 86,305  
General and administrative expenses     226,973       425,175  
    $ 283,085     $ 511,480  
Schedule of assumptions used
           
    Year Ended December 31,  
    2023     2022  
Weighted-average expected dividend yield (%)     –       –  
Weighted-average expected volatility (%)     121.50       126.51  
Weighted-average risk-free interest rate (%)     4.21       2.90  
Weighted-average expected life of option (years)     5.76       5.72  
Weighted-average exercise price ($)     4.00       8.27  
Schedule of option activity
                       
    Number of
shares		     Weighted-
average
exercise
price		     Weighted-
average
remaining
life
(years)		     Aggregate
intrinsic
value		  
Outstanding as of January 1, 2022   108,888     $ 62.66       8.22     $ 23,750  
Granted   35,000       8.27                  
Expired   –       –                  
Outstanding as of December 31, 2022   143,888     $ 49.43       7.78     $ –  
Granted   57,500       4.00                  
Expired   –       –                  
Outstanding as of December 31, 2023   201,388     $ 36.46       7.69     $ –  
                               
Vested or expected to vest as of December 31, 2023   201,388     $ 36.46       7.69     $ –  
                               
Exercisable as of December 31, 2022   100,555     $ 65.70       7.14     $ –  
Exercisable as of December 31, 2023   133,888     $ 52.10       6.69     $ –  
Schedule of non-vested options
           
    Number of
shares		     Weighted-
average
grant date
fair value		  
Balance as of January 1, 2023     43,334     $ 10.39  
Granted     57,500       3.49  
Forfeited     –       –  
Vested     (33,333 )     9.86  
Balance as of December 31, 2023     67,501     $ 4.77  
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, 2022     2,009     $ 120.83       2.83     $ 3,255  
Granted     –       –                  
Expired     –       –                  
Outstanding as of December 31, 2022     2,009       120.83       1.83       –  
Granted     –       –                  
Expired     (84 )     231.60                  
Outstanding as of December 31, 2023     1,925     $ 115.99       0.91     $ –  
                                 
Vested or expected to vest as of December 31, 2023     1,925     $ 115.99       0.91     $ –  
                                 
Exercisable as of December 31, 2022     2,009     $ 120.83       1.83     $ –  
Exercisable as of December 31, 2023     1,925     $ 115.99       0.91     $ –