Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.24.1.1.u2
Summary of Significant Accounting Policies (Tables)
 3 Months Ended
Mar. 31, 2024
Summary of Significant Accounting Policies [Abstract]  
Schedule of Measured at Fair Value on a Recurring Basis The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:
    Fair value measurements at reporting date using:  
    Fair value     Quoted
prices in
active
markets for
identical liabilities
(Level 1)		     Significant other
observable inputs
(Level 2)		     Significant unobservable
inputs
(Level 3)		  
Assets:                        
Cash equivalents, March 31, 2024   $ 10,573,078     $ 10,573,078     $
         -
     $
     -
  
                                 
Assets:                                
Cash equivalents, December 31, 2023   $ 13,419,860     $ 13,419,860     $
-
     $
-
  
                                 
Liabilities:                                
Public warrant liabilities, March 31, 2024   $ 54,120     $ 54,120     $
-
     $
-
  
Representative warrant liabilities, March 31, 2024   $ 3,530     $
-
     $
-
     $ 3,530  
                                 
Liabilities:                                
Public warrant liabilities, December 31, 2023   $ 79,200     $ 79,200     $
-
     $
-
  
Representative warrant liabilities, December 31, 2023   $ 5,166     $
-
     $
-
     $ 5,166  
Schedule of Reconciliation of the Level 3 Representative Warrant Liabilities The following table presents a reconciliation of the Level 3 Representative Warrants liabilities:
    Three months ended
March 31,		  
    2024     2023  
Representative warrant liabilities, January 1   $ 5,166     $ 8,611  
Issuances    
-
      
-
  
Exercises    
-
      
-
  
Change in fair value     (1,636 )     2,870  
Representative warrant liabilities, March 31   $ 3,530     $ 11,482  

 
Schedule of Net Loss Per Share The following outstanding shares issuable upon exercise of stock options and warrants and vesting of restricted stock units were excluded from the computation of diluted net loss per share for the periods presented because including them would have had an anti-dilutive effect:
    Three months ended
March 31,		  
    2024     2023  
Stock options     203,433       109,000  
Warrants     769,300       767,800  
Restricted stock units     2,502       5,833  
Schedule of Relevant Translation Rates The relevant translation rates are as follows:
    As of
March 31,
2024		     As of
December 31,
2023		  
Closing rate, British Pound (GBP) to $USD at period end     1.2632       1.2747  
Average rate, GBP to $USD for the period ended     1.2680       1.2434  
Closing rate, Euro (EUR) to $USD at period end     0.9258       0.9052  
Average rate, EUR to $USD for the period ended     0.9214       0.9251