UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2022 |
Jun. 30, 2021 |
Jun. 30, 2022 |
Jun. 30, 2021 |
|
| UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||
| Revenue | $ 0 | $ 0 | $ 0 | $ 0 |
| Operating Expenses | ||||
| General and administrative | 1,439,684 | 1,515,899 | 3,353,249 | 3,298,759 |
| Research and development | 165,476 | 273,314 | 428,299 | 642,764 |
| Total Operating Expenses | 1,605,160 | 1,789,213 | 3,781,547 | 3,941,523 |
| Other Operating Income | ||||
| Distribution from joint venture | 0 | 110,000 | 0 | 110,000 |
| Contributed services - research and development | 83,501 | 67,794 | 206,854 | 171,113 |
| Total Other Operating Income | 83,501 | 177,794 | 206,854 | 281,113 |
| Operating Loss | (1,521,659) | (1,611,419) | (3,574,693) | (3,660,410) |
| Other Income | ||||
| Interest income | 19,017 | 1,322 | 22,522 | 4,631 |
| Foreign currency transaction gain | 0 | 0 | 0 | 33,694 |
| Total Other Income | 19,017 | 1,322 | 22,522 | 38,325 |
| Net Loss Before Income Taxes | (1,502,642) | (1,610,097) | (3,552,171) | (3,622,085) |
| Income taxes | 0 | 0 | 0 | 0 |
| Net Loss | (1,502,642) | (1,610,097) | (3,552,171) | (3,622,085) |
| Accumulated preferred stock dividend | 0 | (133,313) | 0 | (264,747) |
| Additional deemed dividend on preferred stock due to the beneficial conversion feature | 0 | (58,408) | 0 | (115,897) |
| Net Loss Attributable to Common Stockholders | $ (1,502,642) | $ (1,801,818) | $ (3,552,171) | $ (4,002,729) |
| Net Loss Per Common Share | ||||
| Net Loss Per Common Share-Basic and Diluted | $ (0.14) | $ (0.27) | $ (0.34) | $ (0.61) |
| Weighted Average Number of Common Shares Outstanding | ||||
| Basic and Diluted | 10,523,238 | 6,595,483 | 10,403,922 | 6,592,454 |
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- Definition The amount of the original debt being converted in a noncash (or part noncash) transaction. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The net amount of operating interest income (expense). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The net amount of other operating income and expenses, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operations. No definition available.
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- Definition The aggregate value of preferred stock dividends and other adjustments necessary to derive net income apportioned to common stockholders. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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