RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS - RESTATED CONSOLIDATED STATEMENTS OF CASH FLOWS (Details) - USD ($) |
3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2023 |
Jun. 30, 2023 |
Mar. 31, 2023 |
Sep. 30, 2022 |
Jun. 30, 2022 |
Mar. 31, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
Sep. 30, 2023 |
Sep. 30, 2022 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||||||
| Net Income (Loss) | $ (17,520,378) | $ (10,178,640) | $ (7,190,470) | $ (7,511,322) | $ (5,635,043) | $ (6,239,797) | $ (17,369,110) | $ (11,874,840) | $ (34,889,488) | $ (19,386,162) | $ (42,770,610) | $ (31,792,618) |
| Adjustments to reconcile net loss to cash used in operating activities: | ||||||||||||
| Depreciation and amortization | 42,557 | 43,417 | 81,207 | 77,316 | 122,415 | 110,276 | 192,375 | 148,435 | ||||
| Stock-based compensation | 408,206 | 303,805 | 827,963 | 723,758 | 1,325,841 | 1,091,517 | 2,410,288 | 1,452,964 | ||||
| Loss on disposal of asset | 3,386 | 3,386 | 3,386 | |||||||||
| Costs to issue warrants | 470,000 | 470,000 | 6,824,605 | |||||||||
| Change in fair value of warrants | 7,688,028 | 1,957,418 | (1,390,797) | (300,000) | (1,800,000) | 100,000 | 566,621 | (1,700,000) | 8,254,649 | (2,000,000) | 3,787,114 | (3,633,241) |
| Change in operating lease right-of-use asset | 13,829 | 21,358 | 28,034 | 43,533 | 42,768 | 66,547 | 58,051 | 90,432 | ||||
| Changes in: | ||||||||||||
| Prepaid expenses and other assets | (488,719) | 107,065 | 257,998 | 387,817 | (408,790) | (108,451) | (173,548) | 204,242 | ||||
| Accounts payable and accrued liabilities | 1,426,102 | 656,802 | 913,230 | 1,607,353 | 2,336,146 | 2,512,121 | 3,700,202 | 1,623,529 | ||||
| Lease liability | (4,378) | (32,433) | (19,332) | (65,684) | (34,815) | (99,772) | (50,846) | (144,035) | ||||
| Cash used in operating activities | (7,183,670) | (5,039,783) | (14,713,389) | (10,797,361) | (22,781,274) | (17,810,538) | (32,376,974) | (25,222,301) | ||||
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||||||
| Purchases of property, plant & equipment | (30,070) | (101,049) | (597,282) | (108,115) | (864,038) | (225,971) | ||||||
| Cash used in investing activities | (30,070) | (101,049) | (597,282) | (108,115) | (864,038) | (225,971) | ||||||
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||||||
| Proceeds from issuance of stock and warrants, net of issuance costs | 22,150,000 | 22,150,000 | 9,610,655 | |||||||||
| Proceeds from exercise of warrants | 3 | 3 | 348,641 | 789,642 | ||||||||
| Cash provided by financing activities | 3 | 3 | 22,498,641 | 22,939,642 | 9,610,655 | |||||||
| DECREASE IN CASH AND CASH EQUIVALENTS | (7,183,667) | (5,069,853) | (14,713,386) | (10,898,410) | (879,915) | (17,918,653) | (10,301,370) | (15,837,617) | ||||
| CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 5,152,972 | 12,682,691 | 19,866,358 | 24,805,565 | 30,634,122 | 35,703,975 | 19,866,358 | 35,703,975 | 19,866,358 | 35,703,975 | 19,866,358 | 35,703,975 |
| CASH AND CASH EQUIVALENTS AT END OF PERIOD | 18,986,443 | 5,152,972 | 12,682,691 | 17,785,322 | 24,805,565 | 30,634,122 | 5,152,972 | 24,805,565 | 18,986,443 | 17,785,322 | 9,564,988 | 19,866,358 |
| SUPPLEMENTAL DISCLOSURE OF NON-CASH INFORMATION | ||||||||||||
| Conversion of preferred stock to common stock | 13,242,368 | |||||||||||
| Conversion of mezzanine equity to permanent equity (Note 6) | 17,820,000 | |||||||||||
| Conversion of pre-funded warrants to liability | 3,239,112 | |||||||||||
| As previously reported | ||||||||||||
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||||||
| Net Income (Loss) | (13,732,350) | (8,221,222) | (8,581,267) | (7,811,322) | (7,435,043) | (6,139,797) | (16,802,489) | (13,574,840) | (30,534,839) | (21,386,162) | (37,983,496) | (28,601,254) |
| Adjustments to reconcile net loss to cash used in operating activities: | ||||||||||||
| Depreciation and amortization | 42,557 | 43,417 | 81,207 | 77,316 | 122,415 | 110,276 | 192,375 | 148,435 | ||||
| Stock-based compensation | 408,206 | 303,805 | 827,963 | 723,758 | 1,325,841 | 1,091,517 | 2,410,288 | 1,452,964 | ||||
| Loss on disposal of asset | 3,386 | 3,386 | 3,386 | |||||||||
| Costs to issue warrants | 470,000 | 470,000 | ||||||||||
| Change in fair value of warrants | 3,900,000 | 3,900,000 | (1,000,000) | |||||||||
| Change in operating lease right-of-use asset | 13,829 | 21,358 | 28,034 | 43,533 | 42,768 | 66,547 | 58,051 | 90,432 | ||||
| Changes in: | ||||||||||||
| Prepaid expenses and other assets | (488,719) | 107,065 | 257,998 | 387,817 | (408,790) | (108,451) | (173,548) | 204,242 | ||||
| Accounts payable and accrued liabilities | 1,426,102 | 656,802 | 913,230 | 1,607,353 | 2,336,146 | 2,512,121 | 3,700,202 | 1,623,529 | ||||
| Lease liability | (4,378) | (32,433) | (19,332) | (65,684) | (34,815) | (99,772) | (50,846) | (144,035) | ||||
| Cash used in operating activities | (7,183,670) | (5,039,783) | (14,713,389) | (10,797,361) | (22,781,274) | (17,810,538) | (32,376,974) | (25,222,301) | ||||
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||||||
| Purchases of property, plant & equipment | (30,070) | (101,049) | (597,282) | (108,115) | (864,038) | (225,971) | ||||||
| Cash used in investing activities | (30,070) | (101,049) | (597,282) | (108,115) | (864,038) | (225,971) | ||||||
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||||||
| Proceeds from issuance of stock and warrants, net of issuance costs | 22,150,000 | 22,150,000 | 9,610,655 | |||||||||
| Proceeds from exercise of warrants | 3 | 3 | 348,641 | 789,642 | ||||||||
| Cash provided by financing activities | 3 | 3 | 22,498,641 | 22,939,642 | 9,610,655 | |||||||
| DECREASE IN CASH AND CASH EQUIVALENTS | (7,183,667) | (5,069,853) | (14,713,386) | (10,898,410) | (879,915) | (17,918,653) | (10,301,370) | (15,837,617) | ||||
| CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 5,152,972 | 12,682,691 | 19,866,358 | 24,805,565 | 30,634,122 | 35,703,975 | 19,866,358 | 35,703,975 | 19,866,358 | 35,703,975 | 19,866,358 | 35,703,975 |
| CASH AND CASH EQUIVALENTS AT END OF PERIOD | 18,986,443 | 5,152,972 | 12,682,691 | 17,785,322 | 24,805,565 | 30,634,122 | 5,152,972 | 24,805,565 | 18,986,443 | 17,785,322 | 9,564,988 | 19,866,358 |
| SUPPLEMENTAL DISCLOSURE OF NON-CASH INFORMATION | ||||||||||||
| Conversion of preferred stock to common stock | 13,242,368 | |||||||||||
| Conversion of mezzanine equity to permanent equity (Note 6) | 17,920,000 | |||||||||||
| Restatement adjustments | ||||||||||||
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||||||
| Net Income (Loss) | (3,788,028) | (1,957,418) | 1,390,797 | 300,000 | 1,800,000 | (100,000) | (566,621) | 1,700,000 | (4,354,649) | 2,000,000 | (4,787,114) | (3,191,364) |
| Adjustments to reconcile net loss to cash used in operating activities: | ||||||||||||
| Costs to issue warrants | 6,824,605 | |||||||||||
| Change in fair value of warrants | $ 3,788,028 | $ 1,957,418 | $ (1,390,797) | $ (300,000) | $ (1,800,000) | $ 100,000 | $ 566,621 | $ (1,700,000) | $ 4,354,649 | $ (2,000,000) | 4,787,114 | $ (3,633,241) |
| SUPPLEMENTAL DISCLOSURE OF NON-CASH INFORMATION | ||||||||||||
| Conversion of mezzanine equity to permanent equity (Note 6) | (100,000) | |||||||||||
| Conversion of pre-funded warrants to liability | $ 3,239,112 | |||||||||||