Condensed Consolidated Statements of Operations and Comprehensive Loss (unaudited) - USD ($) |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
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Operating expenses: | ||||
Research and development | $ 252,880 | $ 153,389 | $ 460,214 | $ 446,440 |
General and administrative | 4,094,664 | 674,570 | 7,612,154 | 1,239,772 |
Total operating expenses | 4,347,544 | 827,959 | 8,072,368 | 1,686,212 |
Loss from operations | (4,347,544) | (827,959) | (8,072,368) | (1,686,212) |
Other income (expense): | ||||
Foreign exchange transaction loss | 0 | 0 | (935) | 0 |
Change in fair value of share liability | 60,100 | 0 | 170,385 | 0 |
Interest income | 1,098 | 789 | 1,494 | 1,454 |
Total other income | 61,198 | 789 | 170,944 | 1,454 |
Net loss | $ (4,286,346) | $ (827,170) | $ (7,901,424) | $ (1,684,758) |
Net loss per share, basic and diluted | $ (0.14) | $ (0.03) | $ (0.27) | $ (0.07) |
Weighted average shares of common stock outstanding, basic and diluted | 29,796,065 | 27,109,754 | 29,535,060 | 25,798,098 |
Other comprehensive loss: | ||||
Net loss | $ (4,286,346) | $ (827,170) | $ (7,901,424) | $ (1,684,758) |
Foreign currency translation | (472,673) | 354,528 | (1,476,526) | 125,271 |
Total comprehensive loss | $ (4,759,019) | $ (472,642) | $ (9,377,950) | $ (1,559,487) |
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- Definition To record your fair value adjustment, you will need to make a journal entry that affects the balance sheet account of the asset and your income. If the fair value has increased, you would debit the valuation account and credit your income. For losses, you should credit the valuation account and debit your income. No definition available.
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, before tax, of realized and unrealized gain (loss) from foreign currency transaction. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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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://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 aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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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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- References 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/disclosureRef
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- Definition Amount after tax, before reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount before tax, after reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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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/2003/role/disclosureRef
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