Quarterly report pursuant to Section 13 or 15(d)

Organization and Description of Business (Details Narrative)

v3.24.2.u1
Organization and Description of Business (Details Narrative)
3 Months Ended 6 Months Ended
Jul. 25, 2024
USD ($)
shares
Jul. 17, 2024
USD ($)
Jun. 14, 2024
USD ($)
May 20, 2024
USD ($)
$ / shares
shares
May 14, 2024
USD ($)
Apr. 05, 2024
USD ($)
$ / shares
Mar. 31, 2024
USD ($)
Feb. 23, 2024
Feb. 14, 2024
shares
Feb. 13, 2024
shares
Nov. 13, 2023
USD ($)
Feb. 21, 2023
USD ($)
$ / shares
shares
Jun. 30, 2024
USD ($)
$ / shares
shares
Jun. 30, 2023
USD ($)
Mar. 31, 2023
USD ($)
shares
Jun. 30, 2024
USD ($)
$ / shares
shares
Jun. 30, 2023
USD ($)
Jul. 24, 2024
shares
Jun. 17, 2024
shares
Mar. 04, 2024
$ / shares
Dec. 31, 2023
USD ($)
$ / shares
shares
Feb. 28, 2023
$ / shares
shares
Common stock, par value | $ / shares                         $ 0.001     $ 0.001       $ 0.001 $ 0.001  
Reverse Stock Split               1-for-30 1-for-30                          
Common stock issued | shares                 16,666,666 500,000,000                        
Common stock, shares authorized | shares                 66,666,666 550,000,000     250,000,000     250,000,000         250,000,000  
Preferred stock, par value | $ / shares                         $ 0.001     $ 0.001         $ 0.001  
Issuance of preferred shares   $ 5,100,000                                    
Preferred stock dividends                         625,382 $ 373,796   $ 1,827,249 $ 532,129          
Derivative fair value                       $ 3,149,800 0     0            
Stock issuance costs                             314,311              
Fair value of the warrants                             $ 10,623,000              
Change in fair value of derivative liability                         $ (72,000) (1,490,200)   $ (11,000) (315,200)          
Probability of default                         1.5     1.5            
Fair value of the warrants                               10,623,000          
Issuance of warrants                               762,834            
Warrants at fair value                         $ (2,701,000) (2,930,700)   $ 4,393,000 (2,810,000)          
Preferred Stock, Shares Authorized | shares                         50,000,000     50,000,000         50,000,000  
Employment agreement description                     Effective November 13, 2023, the Company entered into an amendment to the employment agreement of Dr. Chris Chapman, its President and Chief Medical Officer, providing for Dr. Chapman’s annual base salary to be adjusted from five hundred thousand dollars ($500,000) (the “Full Base Salary”) to two hundred fifty thousand dollars ($250,000) in cash per annum, until payment of his Full Base Salary would no longer jeopardize the Company’s ability to continue as a going concern, as determined by the Company in its sole discretion. The amendment further provides that the remaining $250,000 of base salary per annum (the “Deferral Amount”) shall be deferred until payment of the Deferral Amount would no longer jeopardize the Company’s ability to continue as a going concern, as determined by the Company in its sole discretion, at which time the Deferral Amount may be paid, at Dr. Chapman’s election, in shares of Common Stock or in cash. As of June 30, 2024 and December 31, 2023, the Company had recognized a salary deferral of $120,192 and $28,846, respectively, which was paid to Dr. Chapman upon his separation from the Company.                      
Officers compensation                               $ 345,056 559,224          
Implementation of directors agreement description                     In connection with an overall reduction in compensation paid to the Company’s directors implemented in November 2023, effective November 13, 2023, the Company entered into an amendment to the employment agreement of Christopher C. Schreiber, a Director and the Company’s former Executive Chairman, providing for Mr. Schreiber’s annual fee to be adjusted from three hundred thousand dollars ($300,000) (the “Full Fee”) to sixty thousand dollars ($60,000) in cash per annum, until payment of his Full Fee would no longer jeopardize the Company’s ability to continue as a going concern, as determined by the Company in its sole discretion. The amendment further provides that the remaining $240,000 of the fees per annum (the “Fee Deferral Amount”) shall be deferred until payment of the Fee Deferral Amount would no longer jeopardize the Company’s ability to continue as a going concern, as determined by the Company in its sole discretion, at which time the Fee Deferral Amount may be paid, at Mr. Schreiber’s election, in shares of Common Stock or in cash. The amendment also clarified that Mr. Schreiber’s title is “Director.” As of June 30, 2024 and December 31, 2023, the Company had recognized a salary deferral of $120,000 and $27,692, respectively, which is included in Deferred Compensation Payable on the Condensed Consolidated Balance Sheets.                      
Board fee deferral                         $ 331,992     331,992          
Deferred Compensation Payable [Member]                                            
Board fee deferral                         $ 140,800     $ 140,800         $ 44,000  
Series F-1 Short Term Warrants [Member]                                            
Warrant exercise price | $ / shares                         $ 1.816     $ 1.816            
Warrants to purchase common stock | shares                         2,780,839     2,780,839            
Series F-1 Long Term Warrants [Member]                                            
Warrant exercise price | $ / shares                         $ 1.816     $ 1.816            
Warrants to purchase common stock | shares                         2,780,839     2,780,839            
Series F-1 Long Term Warrants [Member] | Subsequent Event [Member]                                            
Warrants at fair value $ 6,965,000                                          
Change in fair value as a non-cash loss 16,000                                          
Series G Short Term Warrants [Member] | Subsequent Event [Member]                                            
Warrants at fair value 12,343,000                                          
Change in fair value as a non-cash loss $ 11,000                                          
Fair Value, Recurring [Member]                                            
Fair value of the warrants                               $ 21,992,000            
Change in fair value of derivative liability                               11,000            
Warrants at fair value                               4,393,000            
Reclassification of warrant liability to equit upon warrant modification                               (7,961,000)            
Other Operating Income (Expense) [Member]                                            
Change in fair value of derivative liability                         $ 0 194,500   $ 0 315,200          
Fair value of common stock on valuation date | $ / shares                         $ 2.39     $ 2.39            
Common Stock [Member]                                            
Common stock issued | shares                             65,960              
Issuance of preferred shares                                        
Exercise price | $ / shares                         $ 1.84     $ 1.84         $ 7.77  
Preferred Stock [Member]                                            
Issuance of preferred shares                             14,087,111              
Derivative fair value                             3,149,800              
Contra Preferred Stock [Member]                                            
Issuance of preferred shares   9,000,000.0                                        
Measurement Input, Expected Dividend Rate [Member]                                            
Derivative measurement input                       10.0 10.0     10.0            
Estimated equity volatility                               95.00%            
Discounted market interest rate                               6.20%            
Penalty dividend rate                         15.0     15.0            
Measurement Input, Exercise Price [Member] | Common Stock [Member]                                            
Exercise price | $ / shares                       $ 1.90                    
Measurement Input, Option Volatility [Member]                                            
Derivative measurement input                       120.0                    
Measurement Input, Price Volatility [Member]                                            
Derivative measurement input                       190.0                    
Measurement Input, Maturity [Member]                                            
Time of maturity                       1 year 4 months 6 days                    
Measurement Input, Maturity [Member] | Other Operating Income (Expense) [Member]                                            
Time of maturity                               3 months            
Measurement Input, Discount Rate [Member]                                            
Derivative measurement input                       6.8                    
Measurement Input, Lapse Rate [Member]                                            
Derivative measurement input                       15.0                    
Measurement Input, Default Rate [Member]                                            
Derivative measurement input                       0.5                    
Measurement Input Volume Volatility [Member]                                            
Estimated traded volume volatility                         175.0     175.0            
Series F Convertible Preferred Stock [Member]                                            
Conversion price | $ / shares                       $ 2.255                    
Share issued price, per share | $ / shares           $ 6.765                                
Issuance of preferred shares           $ 3,000,000                                
Preferred shares dividend rate                       10.00%                    
Preferred stock conversion ratio percentage                         19.99     19.99            
Series F Convertible Preferred Stock [Member] | Preferred Stock [Member]                                            
Issuance of preferred shares                           912,889              
Series F Convertible Preferred Stock [Member] | Measurement Input, Expected Dividend Rate [Member]                                            
Preferred shares dividend rate                       15.00%                    
Series F-1 Preferred Stock [Member]                                            
Warrant exercise price | $ / shares                         $ 1.816     $ 1.816            
Debt description                               The amortization payments due upon such redemption are payable, at the Company’s election, in cash, or subject to certain limitations, in shares of Common Stock valued at the lower of (i) the Series F Conversion Price then in effect and (ii) the greater of (A) 80% of the average of the three lowest closing prices of the Company’s Series F Common Stock during the thirty trading day period immediately prior to the date the amortization payment is due or (B) a “Floor Price” of $6.60 on a post-split basis (subject to adjustment for stock splits, stock dividends, stock combinations, recapitalizations or other similar events) or, in any case, such lower amount as permitted, from time to time, by the Nasdaq Stock Market.            
Preferred shares dividend rate                               10.00%            
Preferred stock dividends                         $ 54,813 0   $ 54,813 0          
Warrants at fair value                               7,900,000            
Fair value, preferred stock                               9,300,000            
Derivative liability                         900,000     900,000            
Stock discount                               $ 5,100,000            
Preferred stock stock description                               (i) approximately $4.2 million related to the difference between the gross proceeds and the allocated residual fair value of the Series F-1 Preferred Stock (i.e., $0), and (ii) approximately $0.9 million related to the stock derivative at issuance, is accounted for as a reduction to the carrying value of the Series F Preferred Stock and will be accreted from the issuance date to maturity in accordance with ASC 480-10-S99-3A as redemption is deemed probable pursuant to the Installment Redemption terms of the Series F-1 Certificate of Designations.            
Series F-1 Preferred Stock [Member] | Measurement Input, Expected Dividend Rate [Member]                                            
Preferred shares dividend rate                               15.00%            
Series G Preferred Stock [Member]                                            
Preferred shares dividend rate                               10.00%            
Preferred stock dividends                         97,145 0   $ 97,145 0          
Series G Preferred Stock [Member] | Preferred Stock [Member]                                            
Warrants at fair value   14,100,000                                        
Fair value, preferred stock   $ 22,300,000                                        
Series G Preferred Stock [Member] | Measurement Input, Expected Dividend Rate [Member]                                            
Preferred shares dividend rate                               15.00%            
Series F Common Stock Warrants [Member]                                            
Fair value of the warrants                             $ 10,623,000              
Series F Common Stock Warrants [Member] | Warrant [Member]                                            
Warrants term                             5 years              
Series F Common Stock Warrants [Member] | Measurement Input, Option Volatility [Member]                                            
Stock price per share                             125.0              
Series F Common Stock Warrants [Member] | Measurement Input, Expected Dividend Payment [Member]                                            
Stock price per share                             0              
Series F Common Stock Warrants [Member] | Measurement Input, Risk Free Interest Rate [Member]                                            
Stock price per share                             4.09              
Series F Warrants [Member]                                            
Fair value of the warrants                               $ 7,961,000            
Series F Warrants [Member] | Fair Value, Recurring [Member]                                            
Warrant liability         $ 7,961,000   $ 7,094,000                              
Reclassification of warrant liability to equit upon warrant modification             $ 7,961,000                              
Series F Warrants [Member] | Other Operating Income (Expense) [Member]                                            
Warrants at fair value                         $ 0 $ 1,635,000   $ 7,094,000 $ 315,200          
Series F Warrants [Member] | Warrant [Member]                                            
Warrants term                         3 years 10 months 24 days     3 years 10 months 24 days            
Series F Warrants [Member] | Measurement Input, Option Volatility [Member]                                            
Stock price per share                         110.0     110.0            
Series F Warrants [Member] | Measurement Input, Expected Dividend Payment [Member]                                            
Stock price per share                         0     0            
Series F Warrants [Member] | Measurement Input, Risk Free Interest Rate [Member]                                            
Stock price per share                         4.31     4.31            
Series F One Preferreds Stock [Member]                                            
Debt description                               The amortization payments due upon such redemption are payable, at the Company’s election, in cash at 105% of the applicable Installment Redemption Amount (as defined in the Series F-1 Certificate of Designations), or subject to certain limitations, in shares of Common Stock valued at the lower of (i) the Series F-1 Conversion Price then in effect and (ii) the greater of (A) 80% of the average of the three lowest closing prices of the Company’s Common Stock during the thirty consecutive trading day period ending and including the trading day immediately prior to the date the amortization payment is due or (B) $0.364, which is 20% of the “Minimum Price” (as defined in Nasdaq Stock Market Rule 5635) on the date in which the Series F-1 Stockholder Approval (as defined herein) was obtained or, in any case, such lower amount as permitted, from time to time, by the Nasdaq Capital Market, and, in each case, subject to adjustment for stock splits, stock dividends, stock combinations, recapitalizations or other similar events, which amortization amounts are subject to certain adjustments as set forth in the Series F-1 Certificate of Designations (the “Series F-1 Floor Price”).            
Series G Convertible Preferred Stock [Member] | Preferred Stock [Member]                                            
Issuance of preferred shares                                        
Investors [Member] | Warrant [Member] | Series G Short Term Warrants [Member]                                            
Warrant exercise price | $ / shares                         $ 1.816     $ 1.816            
Warrants to purchase common stock | shares                         4,928,416     4,928,416            
Investors [Member] | Warrant [Member] | Series G Warrants [Member]                                            
Warrant exercise price | $ / shares                         $ 1.816     $ 1.816            
Warrants to purchase common stock | shares                         4,928,416     4,928,416            
Director [Member]                                            
Deferral excess payment                     $ 156,000                      
Eagle Uzonwanne [Member]                                            
Deferral excess payment                     36,000                      
Securities Purchase Agreement [Member]                                            
shares issued | shares       5,050                                    
Convertable preferred stock | shares       2,780,839                                    
Warrant exercise price | $ / shares       $ 1.816                                    
Preferred stock, stated value | $ / shares       $ 1,000                                    
Securities Purchase Agreement [Member] | Series F-1 Short Term Warrants [Member]                                            
Issuance of warrants       $ 2,780,839                                    
Warrant exercise price | $ / shares       $ 1.816                                    
Securities Purchase Agreement [Member] | Series F-1 Long Term Warrants [Member]                                            
Issuance of warrants       $ 2,780,839                                    
Warrant exercise price | $ / shares       $ 1.816                                    
Securities Purchase Agreement [Member] | Series F-1 Preferred Stock [Member]                                            
Preferred stock, par value | $ / shares       0.001                                    
Securities Purchase Agreement [Member] | Series G Preferred Stock [Member]                                            
Preferred stock, par value | $ / shares       $ 0.001                                    
Securities Purchase Agreement [Member] | Investors [Member]                                            
shares issued | shares                       15,000                    
Preferred stock stated value                       $ 1,000                    
Convertable preferred stock | shares                       6,651,885                    
Warrant exercise price | $ / shares                       $ 2.255                   $ 3.18
Issuance of warrants                       $ 6,651,885                    
Preferred stock, par value | $ / shares                       $ 3.18                    
Warrant exercise price | $ / shares                       $ 3.18                    
Warrants to purchase common stock | shares                       4,716,904                   4,716,904
Stock issuable | shares                       8,259,911                   8,259,911
Conversion price | $ / shares                       $ 1.816                    
Warrants term                         5 years     5 years           5 years
Securities Purchase Agreement [Member] | Investors [Member] | Series G Short Term Warrants [Member]                                            
Issuance of warrants       $ 4,928,416                                    
Warrant exercise price | $ / shares       $ 1.816                                    
Securities Purchase Agreement [Member] | Investors [Member] | Series G Long Term Warrants [Member]                                            
Warrant exercise price | $ / shares       $ 1.816                                    
Issuance of warrants       $ 4,928,416                                    
Issuance of warrants       $ 4,928,416                                    
Securities Purchase Agreement [Member] | Investors [Member] | Common Stock [Member]                                            
Warrants to purchase common stock | shares                                           4,716,904
Securities Purchase Agreement [Member] | Investors [Member] | Series F Preferred Stock [Member]                                            
Warrant exercise price | $ / shares                       1.816                    
Preferred stock, par value | $ / shares                       1.816                    
Securities Purchase Agreement [Member] | Investors [Member] | Series G Preferred Stock [Member]                                            
shares issued | shares       8,950                                    
Convertable preferred stock | shares       4,928,416                                    
Warrant exercise price | $ / shares                       1.816                    
Conversion price | $ / shares                         $ 1.816     $ 1.816            
Securities Purchase Agreement [Member] | Investors [Member] | Series F Common Stock Warrants [Member]                                            
Warrant exercise price | $ / shares                                           $ 1.816
Series G Preferred Stock [Member]                                            
Preferred stock, stated value | $ / shares       $ 1,000                                    
Series F-1 Registration Rights Agreement [Member]                                            
Series F-1 registration rights description                               the Company entered into a Registration Rights Agreement with the Series F-1 Investors (the “Series F-1 Registration Rights Agreement,”), pursuant to which the Company agreed to file a resale registration statement (the “Series F-1 Registration Statement”) with the SEC to register for resale 200% of the Series F-1 Conversion Shares and (B) 200% of the Series F-1 Warrant Shares promptly following the Closing Date, but in no event later than 30 calendar days after the Closing Date, and to have such Series F-1 Registration Statement declared effective by the Effectiveness Deadline (as defined in the Series F-1 Registration Rights Agreement).            
Series G Registration Rights Agreement [Member]                                            
Series F-1 registration rights description                               the Company entered into a Registration Rights Agreement with the Series G Investors (the “Series G Registration Rights Agreement” and, together with the Series F-1 Registration Rights Agreement, the “Registration Rights Agreements”) pursuant to which the Company agreed to file a resale registration statement (the “Series G Registration Statement”) with the SEC to register for resale 200% of the Series G Conversion Shares, (B) 200% of the shares of Common Stock issuable upon conversion of the PIK Shares, and (C) 200% of the Series G Warrant Shares promptly following the Closing Date, but in no event later than 30 calendar days after the Closing Date, and to have such Series G Registration Statement declared effective by the Effectiveness Deadline (as defined in the Series G Registration Rights Agreement)            
Gpn agreement [Member] | Series F Warrants [Member]                                            
Private Placement Warrants Description                               In connection with the Private Placements, pursuant to (A) an engagement letter (the “GPN Agreement”) with GP Nurmenkari Inc. (“GPN”) and (B) an engagement letter (the “Palladium Agreement,” and collectively with the GPN Agreement, the “Engagement Letters”) with Palladium Capital Group, LLC (“Palladium,” and collectively with GPN, the “Placement Agents”), the Company engaged the Placement Agents to act as non-exclusive placement agents in connection with each Private Placement, pursuant to which, the Company agreed to (i) pay the Placement Agents a cash fee equal to 3% of the gross proceeds of each Private Placement (including any cash proceeds realized by the Company from the exercise of the Series F Warrants), (ii) reimbursement and payment of certain expenses, and (iii) issue to the Placement Agents on the Closing Date, warrants to purchase up to an aggregate of 693,833 of shares of Common Stock to each Placement Agent, which is equal to 3% of the aggregate number of shares of Common Stock underlying the securities issued in each Private Placement, including upon exercise of any Series F Warrants, with terms identical to the Series G Long-Term Warrants and Series F-1 Long-Term Warrants.            
Separation Agreement [Member]                                            
Officers compensation     $ 125,000                                      
Payments to officer     25,000                                      
Salaries     150,000                                      
Share based compensation     $ 197,427                                      
Minimum [Member]                                            
Common stock, shares authorized | shares 16,666,666                                          
Minimum [Member] | Subsequent Event [Member]                                            
Common stock, shares authorized | shares                                   16,666,666        
Minimum [Member] | Series F Convertible Preferred Stock [Member]                                            
Conversion price | $ / shares                       $ 60.21 60.21     $ 60.21            
Minimum [Member] | Series F-1 Preferred Stock [Member]                                            
Conversion price | $ / shares                         2.253     2.253            
Minimum [Member] | Series G Preferred Stock [Member]                                            
Common stock, shares authorized | shares                                     8,950      
Conversion price | $ / shares                         $ 2.253     $ 2.253            
Minimum [Member] | Director [Member]                                            
Director fees                     60,000                      
Minimum [Member] | Eagle Uzonwanne [Member]                                            
Director fees                     60,000                      
Minimum [Member] | Amendment Agreement [Member] | Series G Convertible Preferred Stock [Member]                                            
Preferred Stock, Shares Authorized | shares                                     8,950      
Maximum [Member]                                            
Common stock, shares authorized | shares                 250,000,000                          
Maximum [Member] | Subsequent Event [Member]                                            
Common stock, shares authorized | shares                                   250,000,000        
Maximum [Member] | Common Stock [Member]                                            
Preferred stock conversion ratio percentage                         19.99     19.99            
Maximum [Member] | Series G Preferred Stock [Member]                                            
Common stock, shares authorized | shares                                     12,826,273      
Maximum [Member] | Director [Member]                                            
Director fees                     216,000                      
Maximum [Member] | Eagle Uzonwanne [Member]                                            
Director fees                     $ 96,000                      
Maximum [Member] | Amendment Agreement [Member] | Series G Convertible Preferred Stock [Member]                                            
Preferred Stock, Shares Authorized | shares                                     12,826,273