Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statement of Changes in Shareholders' Equity (Unaudited)

v3.22.2.2
Condensed Consolidated Statement of Changes in Shareholders' Equity (Unaudited) - USD ($)
Preferred Stock [Member]
Series D Convertible Preferred Stock [Member]
Common stock No Par Value [Member]
Common Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
Total
Beginning Balance at Dec. 31, 2020 $ 4,004 $ 43,411,487 $ (48,672,525) $ (5,257,034)
Beginning Balance, shares at Dec. 31, 2020   28,553,307      
Net loss (3,089,704) (3,089,704)
Ending Balance at Mar. 31, 2021 $ 4,004 43,411,487 (51,762,229) (8,346,738)
Ending Balance, shares at Mar. 31, 2021   28,553,307      
Beginning Balance at Dec. 31, 2020 $ 4,004 43,411,487 (48,672,525) (5,257,034)
Beginning Balance, shares at Dec. 31, 2020   28,553,307      
Net loss           (26,649,321)
Ending Balance at Sep. 30, 2021 $ 144,524 101,069,246 (75,321,846) 25,891,924
Ending Balance, shares at Sep. 30, 2021 72,992   37,419,774      
Beginning Balance at Mar. 31, 2021 $ 4,004 43,411,487 (51,762,229) (8,346,738)
Beginning Balance, shares at Mar. 31, 2021   28,553,307      
Exercise of prepaid equity forward contracts for common stock
Exercise of prepaid equity forward contracts for common stock, shares     466,716      
Net loss   (18,092,336) (18,092,336)
Reverse merger with Akers Biosciences Inc effective April 16, 2021 $ 144,524 85,748,325 $ (4,004) (43,411,487) 42,477,358
Reverse merger with Akers Biosciences Inc effective April 16, 2021, shares 72,992   8,335,627      
Modification of the terms of 4,188,315 pre-merger MyMD stock options per the terms of the merger agreement 15,036,051 15,036,051
Ending Balance at Jun. 30, 2021 $ 144,524 100,784,376 (69,854,565) 31,074,335
Ending Balance, shares at Jun. 30, 2021 72,992   37,355,650      
Net loss (5,467,281) (5,467,281)
Stock based compensation for services   90,002       90,002
Stock based compensation for services, shares     16,826      
Exercise of warrants for common stock   194,868       194,868
Exercise of warrants for common stock, shares     47,298      
Ending Balance at Sep. 30, 2021 $ 144,524 101,069,246 (75,321,846) 25,891,924
Ending Balance, shares at Sep. 30, 2021 72,992   37,419,774      
Beginning Balance at Dec. 31, 2021 $ 144,524 $ 102,064,218 (78,561,568) 23,647,174
Beginning Balance, shares at Dec. 31, 2021 72,992   37,673,110      
Exercise of prepaid equity forward contracts for common stock  
Exercise of prepaid equity forward contracts for common stock, shares     385,135      
Stock-based compensation – stock options   $ 81,002 81,002
Stock-based compensation – restricted stock units   15,998 15,998
Net loss (4,122,034) (4,122,034)
Ending Balance at Mar. 31, 2022 $ 144,524 $ 102,161,218 (82,683,602) 19,622,140
Ending Balance, shares at Mar. 31, 2022 72,992   38,058,245      
Beginning Balance at Dec. 31, 2021 $ 144,524 $ 102,064,218 (78,561,568) $ 23,647,174
Beginning Balance, shares at Dec. 31, 2021 72,992   37,673,110      
Exercise of prepaid equity forward contracts for common stock, shares          
Net loss           $ (11,451,818)
Ending Balance at Sep. 30, 2022 $ 144,524 $ 108,195,909 (90,013,386) 18,327,047
Ending Balance, shares at Sep. 30, 2022 72,992   39,470,009      
Beginning Balance at Mar. 31, 2022 $ 144,524 $ 102,161,218 (82,683,602) 19,622,140
Beginning Balance, shares at Mar. 31, 2022 72,992   38,058,245      
Stock-based compensation – stock options   $ 132,246   132,246
Net loss (3,636,043) (3,636,043)
Ending Balance at Jun. 30, 2022 $ 144,524 $ 102,293,464 (86,319,645) 16,118,343
Ending Balance, shares at Jun. 30, 2022 72,992   38,058,245      
Stock-based compensation – stock options   $ 135,620   135,620
Stock-based compensation – restricted stock units   138,587   138,587
Net loss (3,693,741) (3,693,741)
Net proceeds from private placement of 1,411,764 common shares, net of offering costs of $449,500   $ 5,550,028   5,550,028
Net proceeds from private placement of 1,411,764 common shares @ $4.25 per share, shares     1,411,764      
Stock-based compensation – warrants   $ 78,210   78,210
Ending Balance at Sep. 30, 2022 $ 144,524 $ 108,195,909 $ (90,013,386) $ 18,327,047
Ending Balance, shares at Sep. 30, 2022 72,992   39,470,009