Significant Accounting Policies (Tables)
|
3 Months Ended |
Mar. 31, 2022 |
|---|
| 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 March 31, 2022 |
|
$ |
7,998,891 |
|
|
$ |
- |
|
|
$ |
- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Marketable
securities at December 31, 2021 |
|
$ |
11,003,071 |
|
|
$ |
- |
|
|
$ |
- |
|
|
| 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 Condensed Consolidated Balance Sheet Information Related to Operating Lease
| |
|
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 Condensed Consolidated Balance Sheet. The information related to these leases are presented below:
Schedule
of Condensed Consolidated Balance Sheet Information Related to Operating Lease
| |
|
As
of March 31, 2022 |
|
|
As
of December 31, 2021 |
|
| Balance
Sheet |
|
Hyde |
|
|
2021
Wolfe |
|
|
|
|
|
Hyde |
|
|
2021
Wolfe |
|
|
|
|
| Location |
|
Park |
|
|
Street |
|
|
Total |
|
|
Park |
|
|
Street |
|
|
Total |
|
| Operating
Lease |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Lease
Right of Use |
|
$ |
6,154 |
|
|
$ |
126,596 |
|
|
$ |
132,750 |
|
|
$ |
12,156 |
|
|
$ |
136,853 |
|
|
$ |
149,009 |
|
| Lease
Payable, current |
|
|
6,158 |
|
|
|
42,511 |
|
|
|
48,669 |
|
|
|
12,164 |
|
|
|
41,076 |
|
|
|
53,240 |
|
| Lease
Payable - net of current |
|
|
- |
|
|
|
84,619 |
|
|
|
84,619 |
|
|
|
- |
|
|
|
95,911 |
|
|
|
95,911 |
|
|
| Schedule of Lease Cost |
The
following provides details of the Company’s lease expense:
Schedule
of Lease Cost
| |
|
Three
Months Ended March 31, 2022 |
|
|
Three
Months Ended March 31, 2021 |
|
| |
|
Hyde |
|
|
2021
Wolfe |
|
|
|
|
|
Supera |
|
|
Hyde |
|
|
2020
Wolfe |
|
|
|
|
| Lease
Expenses |
|
Park |
|
|
Street |
|
|
Total |
|
|
Aviation |
|
|
Park |
|
|
Street |
|
|
Total |
|
| Operating
Leases |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Lease
Costs |
|
$ |
6,261 |
|
|
$ |
13,200 |
|
|
$ |
19,461 |
|
|
$ |
150,000 |
|
|
$ |
6,319 |
|
|
$ |
6,000 |
|
|
$ |
162,319 |
|
|
| Schedule of Other Information Related to Leases |
Other
information related to leases is presented below:
Schedule
of Other Information Related to Leases
| |
|
As
of March 31, 2022 |
|
| |
|
Hyde |
|
|
2021
Wolfe |
|
|
|
|
| Other
Information |
|
Park |
|
|
Street |
|
|
Total |
|
| Operating
Leases |
|
|
|
|
|
|
|
|
|
|
|
|
| Operating
cash used |
|
$ |
4,622 |
|
|
$ |
11,804 |
|
|
$ |
16,426 |
|
| Average
remaining lease term |
|
|
3 |
|
|
|
32 |
|
|
|
18 |
|
| Average
discount rate |
|
|
10.0 |
% |
|
|
10.0 |
% |
|
|
10.0 |
% |
|
| Schedule of Operating Lease Minimum Lease Payments |
As
of March 31, 2022, the annual minimum lease payments of the Company’s operating lease liabilities were as follows:
Schedule
of Operating Lease Minimum Lease Payments
| |
|
As
of March 31, 2022 |
|
| |
|
Hyde |
|
|
2021
Wolfe |
|
|
|
|
| |
|
Park |
|
|
Street |
|
|
Total |
|
| For
Years Ending March 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 |
|
|
8 |
|
|
|
25,072 |
|
|
|
25,080 |
|
| Present
value of future minimum lease payments |
|
$ |
12,513 |
|
|
$ |
133,728 |
|
|
$ |
146,241 |
|
|
| 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
| |
|
2022 |
|
|
2021 |
|
| |
|
For the Three Months Ended
March 31,
|
|
| |
|
2022 |
|
|
2021 |
|
| Stock Options |
|
|
4,376,737 |
|
|
|
4,188,315 |
|
| Restricted Stock Units |
|
|
2,795,000 |
|
|
|
- |
|
| Warrants to purchase common stock |
|
|
5,072,432 |
|
|
|
- |
|
| Pre-funded Warrants to purchase common stock |
|
|
135,135 |
|
|
|
- |
|
| Series D Preferred Convertible Stock |
|
|
36,496 |
|
|
|
- |
|
| Warrants to purchase Series C Preferred stock |
|
|
27,500 |
|
|
|
- |
|
| Total potentially dilutive shares |
|
|
12,443,300 |
|
|
|
4,188,315 |
|
|