Quarterly report pursuant to Section 13 or 15(d)

Significant Accounting Policies (Policies)

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Significant Accounting Policies (Policies)
 3 Months Ended
Mar. 31, 2022
Accounting Policies [Abstract]  
Basis of Presentation

Basis of Presentation

 

The accompanying unaudited interim financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission and should be read in conjunction with the audited financial statements and notes thereto of the Company contained elsewhere herein.

 

In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements that would substantially duplicate the disclosures contained in the audited financial statements of the Company for the years ended December 31, 2021 and 2020 as reported in the Company’s Form 10-K have been omitted.

 
Basic and Diluted Loss per Share

Basic and Diluted Loss per Share

 

As of March 31, 2022 and 2021, the Company had common stock equivalents related to warrants outstanding to acquire 20,174 and 100,870 shares of the Company’s common stock, respectively.

 

As of March 31, 2022 and 2021, the Company has no common stock equivalents related to convertible preferred stock issued and outstanding.

 

The following table sets forth the computation of basic and diluted net loss per common share for the periods indicated:

 

    2022     2021  
    Three Months Ended
March 31,		  
    2022     2021  
Basic and diluted net loss per share calculation:                
Net loss, basic     (1,969,628 )     (597,008 )
Change in fair value of warrants     —       —  
Net loss, diluted     (1,969,628 )     (597,008 )
Weighted average common shares outstanding, basic and diluted     13,063,710       12,800,667  
Net loss per common share, basic and diluted   $ (0.15 )   $ (0.05 )