Significant Accounting Policies (Tables)
|
12 Months Ended |
Dec. 31, 2021 |
|---|
| Accounting Policies [Abstract] |
|
| Schedule of Marketable Securities |
Marketable
Securities: Valued using quoted prices in active markets for identical assets.
Schedule of Marketable Securities
| |
|
Quoted
Prices in Active
Markets
for
Identical
Assets
or
Liabilities
(Level
1)
|
|
|
Quoted
Prices for Similar Assets or Liabilities in
Active
Markets (Level 2)
|
|
|
Significant
Unobservable
Inputs
(Level
3)
|
|
| Marketable
securities at December 31, 2021 |
|
$ |
11,003,071 |
|
|
$ |
- |
|
|
$ |
- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Marketable
securities at December 31, 2020 |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
| Schedule of Estimated Useful Lives of Property Plant and Equipment |
The
estimated useful lives for the current and comparative periods are as follows:
Schedule
of Estimated Useful Lives of Property Plant and Equipment
| |
|
Useful
Life |
| |
|
(in
years) |
| Plant
and equipment |
|
5-12 |
| Furniture
and fixtures |
|
5-10 |
| Computer
equipment & software |
|
3-5 |
| Leasehold
Improvements |
|
Shorter of the remaining lease or estimated useful life |
|
| Schedule of Condensed Consolidated Balance Sheet Information Related to Operating Lease |
Amortization
is recognized on a straight-line basis over the estimated useful lives of intangible assets, other than goodwill, from the date that
they are available for use. The estimated useful lives for the current and comparative periods are as follows:
Schedule
of Amortization Recognized Estimated Useful Lives of Intangible Assets
| |
|
Useful
Life |
| |
|
(in
years) |
| Patents
and trademarks |
|
12-17 |
|
| Schedule of Condensed Consolidated Balance Sheet Information Related to Operating Lease |
The
Company’s operating leases are comprised of the Supera Aviation, the Hyde Park, the 2020 Wolfe St and the 2021 Wolfe St. leases
on the Consolidated Balance Sheet. The information related to these leases are presented below:
Schedule of Condensed Consolidated Balance Sheet Information Related to Operating Lease
| Location |
|
Aviation |
|
|
Park |
|
|
Street |
|
|
Street |
|
|
Total |
|
|
Aviation |
|
|
Park |
|
|
Street |
|
|
Street |
|
|
Total |
|
| |
|
As
of December 31, 2021 |
|
|
As
of December 31, 2020 |
|
| Balance Sheet |
|
Supera |
|
|
Hyde |
|
|
2020
Wolfe
|
|
|
2021
Wolfe
|
|
|
|
|
|
Supera |
|
|
Hyde |
|
|
2020
Wolfe
|
|
|
2021
Wolfe
|
|
|
|
|
| Location |
|
Aviation |
|
|
Park |
|
|
Street |
|
|
Street |
|
|
Total |
|
|
Aviation |
|
|
Park |
|
|
Street |
|
|
Street |
|
|
Total |
|
| Operating Lease |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Lease Right
of Use |
|
$ |
- |
|
|
$ |
12,156 |
|
|
$ |
- |
|
|
$ |
136,853 |
|
|
$ |
149,009 |
|
|
$ |
431,809 |
|
|
$ |
34,722 |
|
|
$ |
60,664 |
|
|
$ |
- |
|
|
$ |
527,195 |
|
| Lease Payable, current |
|
|
- |
|
|
|
12,164 |
|
|
|
- |
|
|
|
41,076 |
|
|
|
53,240 |
|
|
|
431,809 |
|
|
|
25,120 |
|
|
|
18,887 |
|
|
|
- |
|
|
|
475,816 |
|
| Lease Payable - net of
current |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
95,911 |
|
|
|
95,911 |
|
|
|
- |
|
|
|
9,704 |
|
|
|
41,898 |
|
|
|
- |
|
|
|
51,602 |
|
|
| Schedule of Lease Cost |
The
following provides details of the Company’s lease expense:
Schedule of Lease Cost
| Lease
Expenses |
|
Aviation |
|
|
Park |
|
|
Street |
|
|
Street |
|
|
Total |
|
|
Aviation |
|
|
Park |
|
|
Street |
|
|
Street |
|
|
Total |
|
| |
|
Year
Ended December 31, 2021
|
|
|
Year
Ended December 31, 2020 |
|
| |
|
Supera |
|
|
Hyde |
|
|
2020
Wolfe
|
|
|
2021
Wolfe
|
|
|
|
|
|
Supera |
|
|
Hyde |
|
|
2020
Wolfe
|
|
|
2021
Wolfe
|
|
|
|
|
| Lease
Expenses |
|
Aviation |
|
|
Park |
|
|
Street |
|
|
Street |
|
|
Total |
|
|
Aviation |
|
|
Park |
|
|
Street |
|
|
Street |
|
|
Total |
|
| Operating Leases |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Lease Costs |
|
$ |
150,000 |
|
|
$ |
25,026 |
|
|
$ |
22,667 |
|
|
$ |
4,533 |
|
|
$ |
202,226 |
|
|
$ |
600,000 |
|
|
$ |
25,026 |
|
|
$ |
4,121 |
|
|
$ |
- |
|
|
$ |
629,147 |
|
|
| Schedule of Other Information Related to Leases |
Other
information related to leases is presented below:
Schedule of Other Information Related to Leases
| |
|
As
of December 31, 2021 |
|
| |
|
Supera |
|
|
Hyde |
|
|
2020
Wolfe
|
|
|
2021
Wolfe
|
|
|
|
|
| Other
Information |
|
Aviation |
|
|
Park |
|
|
Street |
|
|
Street |
|
|
Total |
|
| Operating Leases |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating cash
used |
|
$ |
150,000 |
|
|
$ |
25,120 |
|
|
$ |
22,060 |
|
|
$ |
4,400 |
|
|
$ |
201,580 |
|
|
Average
remaining lease term
|
|
|
- |
|
|
|
6 |
|
|
|
- |
|
|
|
35 |
|
|
|
10 |
|
|
Average
discount rate
|
|
|
10.0 |
% |
|
|
10.0 |
% |
|
|
10.0 |
% |
|
|
10.0 |
% |
|
|
10.0 |
% |
|
| Schedule of Operating Lease Minimum Lease Payments |
As
of December 31, 2021, the annual minimum lease payments of the Company’s operating lease liabilities were as follows:
Schedule of Operating Lease Minimum Lease Payments
| |
|
Aviation |
|
|
Park |
|
|
Street |
|
|
Street |
|
|
Total |
|
| |
|
As
of December 31, 2021 |
|
| |
|
Supera |
|
|
Hyde |
|
|
2020
Wolfe
|
|
|
2021
Wolfe
|
|
|
|
|
| |
|
Aviation |
|
|
Park |
|
|
Street |
|
|
Street |
|
|
Total |
|
| For Years Ending December 31, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2022 |
|
$ |
- |
|
|
$ |
12,521 |
|
|
$ |
- |
|
|
$ |
52,932 |
|
|
$ |
65,453 |
|
| 2023 |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
54,520 |
|
|
|
54,520 |
|
| 2024 |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
51,348 |
|
|
|
51,348 |
|
| Total future minimum lease payments, undiscounted |
|
$ |
- |
|
|
$ |
12,521 |
|
|
$ |
- |
|
|
$ |
158,800 |
|
|
$ |
171,321 |
|
| Less:
Imputed interest |
|
|
- |
|
|
|
357 |
|
|
|
- |
|
|
|
21,813 |
|
|
|
22,170 |
|
| Present value of future
minimum lease payments |
|
$ |
- |
|
|
$ |
12,164 |
|
|
$ |
- |
|
|
$ |
136,987 |
|
|
$ |
149,151 |
|
|
| Schedule of Anti-dilutive Securities Excluded from Computation of Earnings Per Share |
The
following securities are excluded from the calculation of weighted average dilutive common shares because their inclusion would have
been anti-dilutive:
Schedule of Anti-dilutive Securities Excluded from Computation of Earnings Per Share
| |
|
2021 |
|
|
2020 |
|
| |
|
For
the Years Ended December 31, |
|
| |
|
2021 |
|
|
2020 |
|
| Stock
Options |
|
|
4,176,739 |
|
|
|
4,188,315 |
|
| Warrants
to purchase Common Stock |
|
|
5,074,489 |
|
|
|
- |
|
| Pre-funded
Warrants to purchase Common Stock |
|
|
520,270 |
|
|
|
- |
|
| Warrants
to purchase Series C Preferred Stock |
|
|
27,500 |
|
|
|
- |
|
| Unvested Restricted Stock Units |
|
|
2,795,000 |
|
|
|
- |
|
| Series
D Convertible Preferred Stock |
|
|
36,496 |
|
|
|
- |
|
| Total
potentially dilutive shares |
|
|
12,630,494 |
|
|
|
4,188,315 |
|
|