Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations (Unaudited)

v3.22.2.2
Consolidated Statements of Operations (Unaudited) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Income Statement [Abstract]        
Revenues $ 460,216 $ 453,460 $ 1,286,841
Cost of Sales (138,786) (116,602) (553,454)
Gross Profit 321,430 336,858 733,387
Operating Expenses        
Salaries and related costs 221,304 534,752 848,036 1,782,646
Share based compensation 120,448 162,359 535,481 1,024,359
Loss on disposal of property and equipment 9,610 92,804
Acquired in process research and development 1,245,948 1,245,948
Other general and administrative 268,076 851,593 1,172,738 2,470,135
Total Operating Expenses 1,855,776 1,548,704 3,811,813 5,369,944
Operating Loss (1,855,776) (1,227,274) (3,474,955) (4,636,557)
Other Income (Expense)        
Forgiveness of PPP loan 698,820 698,820
Warrant expense (334,238) (334,238)
Inducement expense (3,024,872)
Loss on extinguishment of convertible notes payable (2,196,100)
Interest income 1,756 506,795
Interest expense (91,186) (50,516) (278,665) (110,446)
Other expense (7,641) (4,457) (4,107)
Total Other Income (Expense) (423,668) 640,663 (5,331,537) 584,267
Net Loss (2,279,444) (586,611) (8,806,492) (4,052,290)
Net Loss attributable to common stockholders $ (2,279,444) $ (586,611) $ (8,806,492) $ (4,052,290)
Loss per share - basic and diluted [1] $ (8.04) $ (34.07) $ (30.00)
Weighted average outstanding shares -basic and diluted 283,579 142,408 258,483 140,074
[1] The number of outstanding shares of common stock have been adjusted for all periods presented to reflect a one-for-one thousand reverse stock split that became effective on June 13, 2022. The amounts in common stock and additional paid-in capital were adjusted as of the effective date of the one-for-one thousand reverse stock split. See Note 1 for additional information.