Protagenic Therapeutics (PTIX) 10-K 7 Apr 22 2021 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2021	Mar. 31, 2022	Mar. 29, 2021
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2021
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--12-31
Entity File Number	000-51353
Entity Registrant Name	Protagenic Therapeutics, Inc.\new
Entity Central Index Key	0001022899
Entity Tax Identification Number	06-1390025
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	149 Fifth Avenue
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10010
City Area Code	(212)
Local Phone Number	994-8200
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 66,316,269
Entity Common Stock, Shares Outstanding		17,253,278
Documents Incorporated by Reference	None
ICFR Auditor Attestation Flag	false
Auditor Firm ID	206
Auditor Name	MaloneBailey, LLP
Auditor Location	Houston, Texas
Common Stock [Member]
Title of 12(b) Security	Common Stock, par value $0.0001
Trading Symbol	PTIX
Security Exchange Name	NASDAQ
Warrant [Member]
Title of 12(b) Security	Common Stock Purchase Warrant
Trading Symbol	PTIXW
Security Exchange Name	NASDAQ

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2021	Dec. 31, 2020
CURRENT ASSETS
Cash	$ 541,171	$ 671,091
Marketable securities	9,830,085
Prepaid expenses and other current assets	688,667	208,156
TOTAL CURRENT ASSETS	11,059,923	879,247
TOTAL ASSETS	11,059,923	879,247
CURRENT LIABILITIES
Accounts payable and accrued expenses	499,535	571,517
Accounts payable and accrued expenses – related party	300,000
Derivative liability		83,670
TOTAL CURRENT LIABILITIES	799,535	655,187
PIK convertible notes payable, net of debt discount	132,284	1,081,384
PIK convertible notes payable, net of debt discount - related parties	186,149	292,412
TOTAL LIABILITIES	1,117,968	2,028,983
STOCKHOLDERS’ EQUITY (DEFICIT)
Common stock, $.0001 par value, 100,000,000 shares authorized, 17,209,612 and 10,360,480 shares issued and outstanding at December 31, 2021, and December 31, 2020	1,722	1,036
Additional paid-in-capital	32,410,452	16,719,749
Accumulated deficit	(22,221,870)	(17,698,936)
Accumulated other comprehensive loss	(248,349)	(171,586)
TOTAL STOCKHOLDERS’ EQUITY (DEFICIT)	9,941,955	(1,149,736)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)	11,059,923	879,247
Preferred Stock [Member]
STOCKHOLDERS’ EQUITY (DEFICIT)
Preferred stock
Series B Convertible Preferred Stock [Member]
STOCKHOLDERS’ EQUITY (DEFICIT)
Preferred stock		$ 1

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Preferred stock, par value	$ 0.000001	$ 0.000001
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, shares issued	872,766	872,766
Preferred stock, shares outstanding	872,766	872,766
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	17,209,612	10,360,480
Common stock, shares outstanding	17,209,612	10,360,480
Series B Convertible Preferred Stock [Member]
Preferred stock, par value	$ 0.000001	$ 0.000001
Preferred stock, shares authorized	18,000,000	18,000,000
Preferred stock, shares issued	0	872,766
Preferred stock, shares outstanding	0	872,766
Preferred Stock [Member]
Preferred stock, par value	$ 0.000001	$ 0.000001
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
OPERATING AND ADMINISTRATIVE EXPENSES
Research and development	$ 1,136,790	$ 699,797
General and administrative	3,003,623	1,851,814
TOTAL OPERATING AND ADMINISTRATIVE EXPENSES	4,140,413	2,551,611
LOSS FROM OPERATIONS	(4,140,413)	(2,551,611)
OTHER (EXPENSE) INCOME
Interest income	33,207	502
Interest expense	(496,912)	(246,178)
Realized loss on marketable securities	(2,486)
Change in fair value of derivative liability	83,670	248,552
TOTAL OTHER INCOME (EXPENSES)	(382,521)	2,876
LOSS BEFORE TAX	(4,522,934)	(2,548,735)
INCOME TAX EXPENSE
NET LOSS	(4,522,934)	(2,548,735)
Other Comprehensive Loss - net of tax
Net unrealized loss on marketable securities	(77,029)
Foreign exchange translation income (loss)	266	778
TOTAL COMPREHENSIVE LOSS	$ (4,599,697)	$ (2,547,957)
Net loss per common share - Basic and Diluted	$ (0.31)	$ (0.25)
Weighted average common shares - Basic and Diluted	14,740,825	10,339,071

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Deficit - USD ($)	Series B Convertible Preferred Stock [Member]Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
BALANCE -December 31, 2020 at Dec. 31, 2019	$ 1	$ 1,026	$ 14,687,172	$ (15,150,201)	$ (172,364)	$ (634,366)
Beginning balance, shares at Dec. 31, 2019	872,766	10,261,419
Foreign currency translation gain					778	778
Stock compensation - stock options			1,427,084			1,427,084
Stock compensation - warrants			107,670			107,670
Debt discount from beneficial conversion feature			104,204			104,204
Issuance of options for settlement of accrued payroll			93,950			93,950
Stock issued for services		$ 10	119,990			120,000
Stock issued for services, shares		99,061
Debt discount from warrants issued to placement agents			179,679			179,679
Net loss				(2,548,735)		(2,548,735)
BALANCE -December 31, 2021 at Dec. 31, 2020	$ 1	$ 1,036	16,719,749	(17,698,936)	(171,586)	(1,149,736)
Ending balance, shares at Dec. 31, 2020	872,766	10,360,480
Foreign currency translation gain					266	266
Stock compensation - stock options			1,518,756			1,518,756
Net loss				(4,522,934)		(4,522,934)
Unrealized gain on marketable securities					(77,029)	(77,029)
Exercise of options		$ 37	542,463			$ 542,500
Exercise of options, shares		370,000				370,000
Exercise of warrants		$ 108	327,017			$ 327,125
Exercise of warrants, shares		1,076,681
Issuance of shares and warrants from offering, net of offering costs		$ 318	11,707,721			11,708,039
Issuance of shares and warrants from offering, net of offering costs, shares		3,180,000
Conversion of preferred stock	$ (1)	$ 88	(87)
Conversion of preferred stock,Shares	(872,766)	872,766
Conversion of notes and interest		$ 127	1,594,841			1,594,968
Conversion of notes and interest, shares		1,270,185
Stock issued for underwriter		$ 8	(8)
Shares issued to underwriter as stock issuance costs, shares		79,500
BALANCE -December 31, 2021 at Dec. 31, 2021		$ 1,722	$ 32,410,452	$ (22,221,870)	$ (248,349)	$ 9,941,955
Ending balance, shares at Dec. 31, 2021		17,209,612

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES
Net Loss	$ (4,522,934)	$ (2,548,735)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation expense		286
Stock based compensation	1,518,756	1,654,754
Change in fair value of the derivative liability	(83,670)	(248,552)
Gain on sale of marketable securities	2,486
Amortization of debt discount	427,137	154,899
Changes in operating assets and liabilities
Prepaid expenses and other current assets	(480,510)	(164,802)
Accounts payable and accrued expenses	340,121	(196,629)
NET CASH USED IN OPERATING ACTIVITIES	(2,798,614)	(1,348,779)
CASH FLOWS FROM INVESTING ACTIVITIES
Sale of marketable securities	485,946
Purchase of marketable securities	(10,395,547)
NET CASH USED IN INVESTING ACTIVITIES	(9,909,601)
CASH FLOWS FROM FINANCING ACTIVITIES
Exercise of warrants for cash	327,125
Exercise of options for cash	542,500
Issuance of shares and warrants from offering, net of offering costs	11,708,039
Proceeds from notes payable	100,000
Repayment of notes payable	(100,000)
Debt discount from issuance costs paid on PIK convertible notes		(104,090)
Proceeds from PIK convertible notes		1,177,500
Proceeds from PIK convertible notes - related party		150,000
NET CASH PROVIDED BY FINANCING ACTIVITIES	12,577,664	1,223,410
Effect of exchange rate on cash	631	(2,163)
NET DECREASE IN CASH	(129,920)	(127,532)
CASH, BEGINNING OF THE YEAR	671,091	798,623
CASH, END OF THE YEAR	541,171	671,091
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid for interest expense
Cash paid for income taxes
NONCASH FINANCING AND INVESTING TRANSACTIONS
Shares issued for conversion of notes and interest	1,594,968
Debt discount from beneficial conversion feature		104,204
Debt discount from warrants issued to placement agents		179,679
Issuance of options for settlement of accrued payroll		93,950
Unrealized loss on marketable securities	$ 77,029

ORGANIZATION AND NATURE OF BUSI

ORGANIZATION AND NATURE OF BUSINESS	12 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND NATURE OF BUSINESS	NOTE 1 – ORGANIZATION AND NATURE OF BUSINESS Company Background Protagenic Therapeutics, Inc. (“we,” “our,” “Protagenic” or “the Company”), is a Delaware corporation with one subsidiary named Protagenic Therapeutics Canada (2006) Inc. (“PTI Canada”), a corporation formed in 2006 under the laws of the Province of Ontario, Canada. The Company was previously known as Atrinsic, Inc., a company that was once a reporting company under the Securities Exchange Act of 1934, but that, in 2012 and 2013, reorganized under Chapter 11 of the United States Bankruptcy Code and emerged from bankruptcy. On February 12, 2016, the Company acquired Protagenic Therapeutics, Inc. (“Prior Protagenic”) through a reverse merger. On February 12, 2016, Protagenic Acquisition Corp., a wholly-owned subsidiary of the Company, merged (the “Merger”) with and into Prior Protagenic. Prior Protagenic was the surviving corporation of the Merger. As a result of the Merger, the Company acquired the business of Prior Protagenic and has continued the existing business operations of Prior Protagenic as a wholly-owned subsidiary. On June 17, 2016, Prior Protagenic merged with and into the Company with the Company as the surviving corporation in the merger. Immediately thereafter, the Company changed its name from Atrinsic, Inc. to Protagenic Therapeutics, Inc.

LIQUIDITY

LIQUIDITY	12 Months Ended
	Dec. 31, 2021
Liquidity
LIQUIDITY	NOTE 2 - LIQUIDITY As shown in the accompanying consolidated financial statements, the Company has incurred significant recurring losses resulting in an accumulated deficit. The Company anticipates further losses in the development of its business. The Company also had negative cash flows used in operations. These factors raise substantial doubt about the Company’s ability to continue as a going concern. Based on its cash resources and positive working capital as of December 31, 2021, the Company has sufficient resources to fund its operations at least until the end of the third quarter of 2023. The positive working capital as of December 31, 2021 was due to funds raised by the Company from its equity offering during the year ended December 31, 2021. Absent generation of sufficient revenue from the execution of the Company’s business plan and sales revenue is not anticipated before 2024, the Company will need to obtain debt or equity financing by the third quarter of 2023. Because of these factors, the Company believes that this alleviates the substantial doubt in connection with the Company’s ability to continue as a going concern.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”). Principles of consolidation The condensed consolidated financial statements include the accounts of Protagenic Therapeutics, Inc., and its wholly owned Canadian subsidiary, PTI Canada. All significant intercompany balances and transactions have been eliminated in the condensed consolidated financial statements. Reclassifications Reclassifications of prior periods have been made to conform with current year presentation Use of estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expense during the reporting period. Actual results could differ from those estimates. Significant estimates underlying the condensed consolidated financial statements include income tax provisions, valuation of stock options and warrants and assessment of deferred tax asset valuation allowance. Concentrations of Credit Risk The Company maintains its cash accounts at financial institutions which are insured by the Federal Deposit Insurance Corporation. At times, the Company may have deposits in excess of federally insured limits. As of December 31, 2021, the Company has bank balances that exceeds the federally insured limits. The Company has not experienced losses on these accounts and management believes, based upon the quality of the financial institutions, that the credit risk with regard to these deposits is not significant. Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. As of December 31, 2021 and December 31, 2020, the Company did not have any cash equivalents. Marketable Securities The Company accounts for marketable debt securities, the only type of securities it owns, in accordance with the FASB Accounting Standards Codification 320, Investments – Debt and Equity Securities (“ASC 320”). Pursuant to ASC 320-10-35-1, investments in debt securities that are classified as available for sale shall be measured subsequently at fair value in the condensed consolidated balance sheets at each balance sheet date. Unrealized holding gains and losses for available-for-sale securities (including those classified as current assets) shall be excluded from earnings and reported in other comprehensive income until realized. During the year ended December 31, 2021 the Company purchased $ 10,395,547 and sold $ 485,946 in marketable securities with a realized loss of $ 2,486 and an unrealized loss of $ 77,029 . As of December 31, 2021 and December 31, 2020, the Company owned marketable securities with a total value of $ 9,830,085 and $ 0 , respectively. Fair Value Measurements ASC 820, “Fair Value Measurements and Disclosure,” defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, not adjusted for transaction costs. ASC 820 also establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels giving the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels are described below: Level 1 Inputs – Unadjusted quoted prices in active markets for identical assets or liabilities that is accessible by the Company; Level 2 Inputs – Quoted prices in markets that are not active or financial instruments for which all significant inputs are observable, either directly or indirectly; Level 3 Inputs – Unobservable inputs for the asset or liability including significant assumptions of the Company and other market participants. The carrying amount of the Company’s financial assets and liabilities, such as cash, accounts payable and accrued expenses approximate their fair value because of the short term maturity of those instruments. The carrying value of long-term debt approximates fair value since the related rates of interest approximate current market rates. Transactions involving related parties cannot be presumed to be carried out on an arm’s-length basis, as the requisite conditions of competitive, free-market dealings may not exist. Representations about transactions with related parties, if made, shall not imply that the related party transactions were consummated on terms equivalent to those that prevail in arm’s-length transactions unless such representations can be substantiated. The assets or liability’s fair value measurement within the fair value hierarchy is based upon the lowest level of any input that is significant to the fair value measurement. The following table provides a summary of financial instruments that are measured at fair value on a recurring basis as of December 31, 2021. SCHEDULE OF FAIR VALUE ASSETS AND LIABILITIES MEASURED ON RECURRING BASIC Carrying Fair Value Measurement Using Value Level 1 Level 2 Level 3 Total Marketable securities $ 9,830,085 $ 9,830,085 $ — $ — $ 9,830,085 Derivative warrants liabilities $ — $ — $ — $ — $ — The following table provides a summary of financial instruments that are measured at fair value on a recurring basis as of December 31, 2020. Carrying Fair Value Measurement Using Value Level 1 Level 2 Level 3 Total Marketable securities $ — $ — $ — $ — $ — Derivative warrants liabilities $ 83,670 $ — $ — $ 83,670 $ 83,670 The table below provides a summary of the changes in fair value, including net transfers in and/or out, of all financial assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the year ended December 31, 2021: SCHEDULE OF FAIR VALUE, LIABILITIES MEASURED ON RECURRING BASIS, UNOBSERVABLE INPUT RECONCILIATION Fair Value Measurement Using Level 3 Inputs Total Balance, December 31, 2020 $ 83,670 Change in fair value of derivative warrants liabilities (83,670 ) Balance, December 31, 2021 $ - The fair value of the derivative feature of the 127,346 295,945 SCHEDULE OF FAIR VALUE MEASUREMENTS, RECURRING AND NONRECURRING, VALUATION TECHNIQUES December 31, 2020 Exercise price 1.25 Risk free interest rate 0.09 % Dividend yield 0.00 % Expected volatility 169 % Contractual term 0.14 Risk-free interest rate: The Company uses the risk-free interest rate of a U.S. Treasury Note with a similar expected term on the date of measurement. Dividend yield: The Company uses a 0 Volatility: The Company calculates the expected volatility of the stock price based on the corresponding volatility of the Company’s peer group stock price for a period consistent with the warrants’ expected term. Expected term: The Company’s expected term is based on the remaining contractual maturity of the warrants. During the years ended December 31, 2021 and 2020, the Company marked the derivative feature of the warrants to fair value and recorded a gain of $ 83,670 248,552 Derivative Liability The Company evaluates its options, warrants or other contracts, if any, to determine if those contracts or embedded components of those contracts qualify as derivatives to be separately accounted for in accordance with ASC 815-10-05-4 and 815-40-25. The result of this accounting treatment is that the fair value of the embedded derivative is marked-to-market each balance sheet date and recorded as either an asset or a liability. In the event that the fair value is recorded as a liability, the change in fair value is recorded in the condensed consolidated statements of operations as other income or expense. Upon conversion, exercise or cancellation of a derivative instrument, the instrument is marked to fair value at the date of conversion, exercise or cancellation and then the related fair value is reclassified to equity. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is re-assessed at the end of each reporting period. Equity instruments that are initially classified as equity that become subject to reclassification are reclassified to liability at the fair value of the instrument on the reclassification date. Derivative instrument liabilities will be classified in the balance sheet as current or non-current based on whether or not net-cash settlement of the derivative instrument is expected within 12 months of the balance sheet date. Stock-Based Compensation The Company accounts for stock based compensation costs under the provisions of ASC 718, “Compensation—Stock Compensation”, which requires the measurement and recognition of compensation expense related to the fair value of stock based compensation awards that are ultimately expected to vest. Stock based compensation expense recognized includes the compensation cost for all stock based payments granted to employees, officers, non-employees, and directors based on the grant date fair value estimated in accordance with the provisions of ASC 718. ASC. 718 is also applied to awards modified, repurchased, or canceled during the periods reported. If any award granted under the Company’s 2016 Equity Compensation Plan (the “2016 Plan”) payable in shares of common stock is forfeited, cancelled, or returned for failure to satisfy vesting requirements, otherwise terminates without payment being made, or if shares of common stock are withheld to cover withholding taxes on options or other awards, the number of shares of common stock as to which such option or award was forfeited, or which were withheld, will be available for future grants under the 2016 Plan. The Company recognizes the impact of forfeitures when they occur. Basic and Diluted Net (Loss) per Common Share Basic (loss) per common share is computed by dividing the net (loss) by the weighted average number of shares of common stock outstanding for each period. Diluted (loss) per share is computed by dividing the net (loss) by the weighted average number of shares of common stock outstanding plus the dilutive effect of shares issuable through the common stock equivalents. The effect of dilution on net loss becomes anti-dilutive and therefore is not reflected on the consolidated statements of operations and comprehensive loss. SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE Potentially Outstanding For the Year Ended December 31, 2021 For the Year Ended December 31, 2020 Conversion Feature Shares Common shares issuable under the conversion feature of preferred shares - 872,766 Stock Options 5,520,861 5,597,861 Warrants 6,132,630 4,007,058 Convertible Notes 412,000 1,598,000 Total potentially outstanding dilutive common shares 12,065,491 12,075,685 Research and Development Research and development expenses are charged to operations as incurred. Foreign Currency Translation The Company follows ASC 830, Foreign Currency Matters The functional currency of each foreign subsidiary is determined based on management’s judgment and involves consideration of all relevant economic facts and circumstances affecting the subsidiary. Generally, the currency in which the subsidiary transacts a majority of its transactions, including billings, financing, payroll and other expenditures, would be considered the functional currency, but any dependency upon the parent and the nature of the subsidiary’s operations must also be considered. If a subsidiary’s functional currency is deemed to be the local currency, then any gain or loss associated with the translation of that subsidiary’s financial statements is included in accumulated other comprehensive income. However, if the functional currency is deemed to be the U.S. Dollar, then any gain or loss associated with the re-measurement of these financial statements from the local currency to the functional currency would be included in the condensed consolidated statements of operations and comprehensive income (loss). If the Company disposes of foreign subsidiaries, then any cumulative translation gains or losses would be recorded into the condensed consolidated statements of operations and comprehensive income (loss). If the Company determines that there has been a change in the functional currency of a subsidiary to the U.S. Dollar, any translation gains or losses arising after the date of change would be included within the condensed consolidated statements of operations and comprehensive loss. Based on an assessment of the factors discussed above, the management of the Company determined its subsidiary’s local currency (i.e. the Canadian dollar) to be the functional currency for its foreign subsidiary. Recent Accounting Pronouncements Management does not believe that any recently issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial statements.

ACCOUNTS PAYABLE AND ACCRUED EX

ACCOUNTS PAYABLE AND ACCRUED EXPENSES	12 Months Ended
	Dec. 31, 2021
Payables and Accruals [Abstract]
ACCOUNTS PAYABLE AND ACCRUED EXPENSES	NOTE 4 - ACCOUNTS PAYABLE AND ACCRUED EXPENSES Accounts payable and accrued expenses consist of the following at: SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES December 31, December 31, Accounting $ 68,151 $ 36,161 Research and development 375,427 393,496 Legal 77,000 - Other 278,947 141,860 Total $ 799,535 $ 571,517 On October 1, 2019, the Company entered into an agreement with a consultant for toxicology studies. The consultant quoted a commitment of approximately $ 988,000 as an estimate for the study. 50% of the total price was paid upon the signing of the agreement, 35% of the total price is to be paid upon completion of the in-life study, and the remaining 15% of the total price is to be paid upon the issuance of the report. If the Company cancels the study the Company will be required to pay a cancelation fee. If the cancelation happens prior to the arrival of the test animals then the Company will need to pay between 20% and 50% of the animal fees depending on when the cancellation happens. If the cancellation occurs after the animals arrive but before the study begins then the Company will be responsible for paying 50% of the protocol price plus a fee of $ 7,000 per room/week for animal husbandry until the animals can be relocated or disposed of. If the Company cancels the study after it has begun then the Company will need to pay any fees for procured items for the study and any nonrecoverable expenses incurred by the consultant . For the years ended December 31, 2021 and 2020, the Company made payments of $ 7,697 594,134 0 On February 13, 2020, the Company issued 187,497 93,950 1.75, 10 years

NOTE PAYABLE AND CONVERTIBLE NO

NOTE PAYABLE AND CONVERTIBLE NOTE PAYABLE (PIK NOTES)	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
NOTE PAYABLE AND CONVERTIBLE NOTE PAYABLE (PIK NOTES)	NOTE 5 – NOTE PAYABLE AND CONVERTIBLE NOTE PAYABLE (PIK NOTES) Note Payable On March 1, 2021, the Company entered into a $ 100,000 February 28, 2026 5 7.5 7.5 25,000 110 As of December 31, 2021 and December 31, 2020, the Company owes $ 0 0 Convertible Notes Payable During the years ended December 31, 2021 and 2020, the Company amortized $ 333,400 117,036 182,716 516,116 During the year ended December 31, 2021, a total of 1,093,519 shares of the Company’s common stock was issued for the conversion of notes and interest. A total of $ 1,282,500 in principal and $ 91,593 in accrued interest was converted. As part of this conversion, the Company also expensed $ 186,785 in unamortized debt discount related to these converted notes, which is included in the $ 333,400 As of December 31, 2021 and December 31, 2020, the Company owes $ 315,000 1,597,500 SCHEDULE OF MATURITY DATE OF NOTES Maturity Date of Notes for Year Ending December 31, 2021, Amount due 2022 $ - 2023 315,000 2024 - 2025 - 2026 - Total $ 315,000 Convertible Notes Payable – Related Parties During the year ended December 31, 2021 and 2020, the Company amortized $ 93,737 and $ 28,345 of the debt discount, respectively. At December 31, 2021 and December 31, 2020, the Company had an unamortized debt discount of $ 13,851 and $ 107,588 , respectively. During year ended December 31, 2021, a total of 176,666 shares of the Company’s common stock was issued for the conversion of notes and interest. A total of $ 200,000 in principal and $ 20,875 in accrued interest was converted. As part of this conversion, the Company also expensed $ 63,607 in unamortized debt discount related to these converted notes, which is included in the $ 93,737 As of December 31, 2021 and December 31, 2020, the Company owes $ 200,000 400,000 SCHEDULE OF MATURITY DATE OF NOTES Maturity Date of Notes for Year Ending December 31, 2021, Amount due 2022 $ - 2023 200,000 2024 - 2025 - 2026 - Total $ 200,000

STOCKHOLDERS_ DEFICIT

STOCKHOLDERS’ DEFICIT	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
STOCKHOLDERS’ DEFICIT	NOTE 6 - STOCKHOLDERS’ DEFICIT Common Stock On April, 29, 2021, the Company completed a public offering (“the Offering”) to sell an aggregate of 3,180,000 3,180,000 477,000 11.7 79,500 During the year ended December 31, 2021, a total of 872,766 872,766 Stock-Based Compensation In connection with the consummation of the Merger completed on February 12, 2016, we adopted Prior Protagenic’s 2006 Employee, Director and Consultant Stock Plan (the “2006 Plan”). On June 17, 2016, our stockholders adopted the 2016 Plan and, as a result, we terminated the 2006 Plan. We will not grant any further awards under the 2006 Plan. All outstanding grants under the 2006 Plan will continue in effect in accordance with the terms of the particular grant and the 2006 Plan. Pursuant to the 2016 Plan, the Company’s Compensation Committee may grant awards to any employee, officer, director, consultant, advisor or other individual service provider of the Company or any subsidiary. On each of January 1, 2017, January 1, 2019 and January 1, 2020, pursuant to an annual “evergreen” provision contained in the 2016 Plan, the number of shares reserved for future grants was increased by 564,378 1,693,134 569,826 5,438,449 4,868,623 There were 5,520,861 SCHEDULE OF SHARE-BASED PAYMENT AWARD, STOCK OPTIONS, VALUATION ASSUMPTIONS Exercise price $ 1.96 5.60 Expected dividend yield 0 % Risk free interest rate 0.81 1.58 % Expected life in years 5 10 Expected volatility 147 158 % There were 5,597,861 Exercise price $ 1.75 Expected dividend yield 0 % Risk free interest rate 0.64 1.61 % Expected life in years 10 Expected volatility 140 146 % The following is an analysis of the stock option grant activity under the Plan: SCHEDULE OF SHARE-BASED COMPENSATION, STOCK OPTIONS, ACTIVITY Weighted Average Weighted Average Number Exercise Price Remaining Life Stock Options Outstanding December 31, 2020 5,597,861 $ 1.47 6.48 Granted 583,000 $ 4.77 9.12 Expired (290,000 ) $ 1.00 - Exercised (370,000 ) $ 1.48 - Outstanding December 31, 2021 5,520,861 $ 1.84 6.32 A summary of the status of the Company’s nonvested options as of December 31, 2021, and changes during the year ended December 31, 2021, is presented below: SCHEDULE OF SHARE-BASED COMPENSATION NONVESTED SHARES Nonvested Options Options Weighted- Average Nonvested at December 31, 2020 862,833 $ 1.75 Granted 583,000 $ 4.77 Vested (635,500 ) $ 3.07 Forfeited - $ - Nonvested at December 31, 2021 810,333 $ 3.08 As of December 31, 2021, the Company had 5,520,861 1.84 430,174 The total number of options granted during the year ended December 31, 2021 and 2020 was 583,000 1,762,495 1.96 5.60 The Company recognized compensation expense related to options issued of $ 1,518,756 1,427,084 1,513,835 1,354,750 4,921 72,334 769,479 749,277 As of December 31, 2021, the unamortized stock option expense was $ 2,187,130 255,277 1,931,853 3.23 On February 25, 2021, the Company issued a total of 366,000 350,000 2,009,063 5.60 10 5 16,000 350,000 On May 26, 2021, the Company issued a total of 180,000 474,231 3.65 10 On July 26, 2021, the Company issued a total of 32,000 65,626 2.09 10 On August 10, 2021, the Company issued a total of 5,000 9,615 1.96 10 During the three months ended March 31, 2021, 10,000 10,000 1.00 During the three months ended June 30, 2021, the Company issued 360,000 360,000 532,500 Warrants: A summary of warrant issuances are as follows: SUMMARY OF WARRANT ISSUANCES Weighted Average Weighted Average Number Exercise Price Remaining Life Warrants Outstanding December 31, 2020 4,007,058 $ 1.06 1.86 Granted 3,657,000 4.98 4.83 Expired (150,249 ) 1.25 - Exercised (1,381,179 ) 1.13 - Outstanding December 31, 2021 6,132,630 $ 3.38 3.15 As of December 31, 2021, the Company had 6,132,630 3.38 928,802 During the three months ended March 31, 2021, 373,042 240,123 27,125 During the three months ended June 30, 2021, the Company issued 836,558 1,008,137 231,277 300,000

COLLABORATIVE AGREEMENTS

COLLABORATIVE AGREEMENTS	12 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
COLLABORATIVE AGREEMENTS	NOTE 7 - COLLABORATIVE AGREEMENTS The Company and the University of Toronto (the “University”) entered into an agreement effective April 1, 2014 (the “New Research Agreement”) for the performance of a research project titled “Teneurin C-terminal Associated Peptide (“TCAP”) mediated stress attenuation in vertebrates: Establishing the role of organismal and intracellular energy and glucose regulation and metabolism” (the “New Project”). The New Project is to perform research related to work done by Dr. David A. Lovejoy, a professor at the University and stockholder of the Company, in regard to TCAP mediated stress attenuation in vertebrates: Establishing the role of organismal and intracellular energy and glucose regulation and metabolism. In addition to the New Research Agreement, Dr. Lovejoy entered into an agreement with the University in order to commercialize certain technologies. The New Research Agreement expired on March 30, 2016. In February 2017, the New Research Agreement was extended to December 31, 2017. The extension allowed for further development of the technologies and use of their applications. On April 10, 2018, the agreement was amended and the research agreement has been further extended to December 31, 2023. Prior to January 1, 2016, the University has been granted 25,000 1.00 ten year 553,299 441,623 100,000 These have an exercise price of $1.00, $1.25 or 1.75 and are exercisable over ten or thirteen year periods which end either on March 30, 2021, December 1, 2022, April 15, 2026, March 1, 2027, October 16, 2027 or on February 13, 2030 The sponsorship research and development expenses pertaining to the Research Agreements were $ 0 0

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 8 - COMMITMENTS AND CONTINGENCIES Licensing Agreements On July 31, 2005, the Company had entered into a Technology License Agreement (“License Agreement”) with the University pursuant to which the University agreed to license to the Company patent rights and other intellectual property, among other things (the “Technologies”). The Technology License Agreement was amended on February 18, 2015 and currently does not provide for an expiration date. Pursuant to the License Agreement and its amendment, the Company obtained an exclusive worldwide license to make, have made, use, sell and import products based upon the Technologies, or to sublicense the Technologies in accordance with the terms of the License Agreement and amendment. In consideration, the Company agreed to pay to the University a royalty payment of 2.5 10 2.5 no In the event the Company fails to provide the University with semi-annual reports on the progress or fails to continue to make reasonable commercial efforts towards obtaining regulatory approval for products based on the Technologies, the University may convert our exclusive license into a non-exclusive arrangement. Interest on any amounts owed under the License Agreement and amendment will be at 3 2.5 The patent applications were made in the name of Dr. Lovejoy and other inventors, but the Company’s exclusive, worldwide rights to such patent applications are included in the License Agreement and its amendment with the University. The Company maintains exclusive licensing agreements and it currently controls the five intellectual patent properties. Legal Proceedings From time to time we may be named in claims arising in the ordinary course of business. Currently, no legal proceedings, government actions, administrative actions, investigations or claims are pending against us or involve us that, in the opinion of our management, could reasonably be expected to have a material adverse effect on our business and financial condition.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 9 – RELATED PARTY TRANSACTIONS The Company is provided free office space consisting of a conference room by the Company Executive Chairman, Dr. Armen. The Company does not pay any rent for the use of this space. This space is used for quarterly board meetings and our annual shareholder meeting. During the year ended December 31, 2021, the Company engaged Agenus Inc., a related party, to perform research and development services. Agenus Inc. is a related party due to the Company’s Director and Chairman of the Board being the CEO and Chairman of the Board for Agenus Inc. The Company accrued $ 300,000

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 10 – INCOME TAXES The components of loss before income taxes are as follows: SCHEDULE OF LOSS BEFORE INCOME TAX 2020 2020 Domestic (4,522,862 ) (2,542,428 ) Foreign (72 ) (6,307 ) Loss before income taxes (4,522,934 ) (2,548,735 ) The Company had no income tax expense due to operating losses incurred for the years ended December 31, 2021 and 2020. For the years ended December 31, 2021 and 2020, a reconciliation of the Company’s effective tax rate to the statutory U.S. Federal rate is as follows: SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION 2021 2020 Income taxes at Federal statutory rate (21.0 )% (21.0 )% State income taxes, net of Federal income tax effect (8.9 )% (8.6 )% Perm difference 0.0 % 0.0 )% Foreign tax rate differential 0.0 % (0.4 )% Change in valuation allowance 29.9 % 30.0 % Other 0.0 % 0.0 % Income tax provision 0.0 % 0.0 % The tax effects of temporary differences that give rise to the Company’s deferred tax assets and liabilities are as follows: SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES 2021 2020 U.S. net operating loss carryforwards 3,779,000 2,907,000 Stock compensation 1,672,000 1,217,000 Canadian Provincial income tax losses (3,000 ) 7,000 Canadian Provincial scientific investment tax credits (27,000 ) (10,000 ) Deferred tax assets, gross 5,421,000 4,121,000 Valuation allowance (5,421,000 ) (4,121,000 ) Net deferred tax assets - - As of December 31, 2021 and 2020, the Company had federal net operating loss carryforwards (“NOL”) of approximately $ 10,935,000 7,550,000 80 100 The federal net operating losses generated prior to 2018 of $0.1 million will expire at various dates through 2037 10,927,000 7,540,000 state tax liabilities also through 2035 As of December 31, 2021 and 2020, the Company had Canadian NOL of approximately $ 1,446,000 and $ 1,115,000 , respectively. The Canadian losses expire in stages beginning in 2026 . As of December 31, 2021 and 2020, the Company also has unclaimed Canadian federal scientific research and development investment tax credits, which are available to reduce future federal taxes payable of approximately $ 0 and $ 0 respectively. As a result of losses and uncertainty of future profit, the net deferred tax asset has been fully reserved. The net change in the valuation allowance during the years ended December 31, 2021 and 2020 was an increase of $ 1,300,000 418,000 Foreign earnings are assumed to be permanently reinvested. U.S. Federal income taxes have not been provided on undistributed earnings of our foreign subsidiary. The Company recognizes interest and penalties related to uncertain tax positions in selling, general and administrative expenses. The Company has not identified any uncertain tax positions requiring a reserve as of December 31, 2021 and 2020. The Company is required to file U.S. federal and state income tax returns. These returns are subject to audit by tax authorities beginning with the year ended December 31, 2017.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 11 - SUBSEQUENT EVENTS On January 6, 2022, the Company cancelled 16,000 16,000 5 1.25 On January 19, 2022, the Company issued 50,000 10 1.21 On February 17, 2022, $ 50,000 43,666

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”).
Principles of consolidation	Principles of consolidation The condensed consolidated financial statements include the accounts of Protagenic Therapeutics, Inc., and its wholly owned Canadian subsidiary, PTI Canada. All significant intercompany balances and transactions have been eliminated in the condensed consolidated financial statements.
Reclassifications	Reclassifications Reclassifications of prior periods have been made to conform with current year presentation
Use of estimates	Use of estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expense during the reporting period. Actual results could differ from those estimates. Significant estimates underlying the condensed consolidated financial statements include income tax provisions, valuation of stock options and warrants and assessment of deferred tax asset valuation allowance.
Concentrations of Credit Risk	Concentrations of Credit Risk The Company maintains its cash accounts at financial institutions which are insured by the Federal Deposit Insurance Corporation. At times, the Company may have deposits in excess of federally insured limits. As of December 31, 2021, the Company has bank balances that exceeds the federally insured limits. The Company has not experienced losses on these accounts and management believes, based upon the quality of the financial institutions, that the credit risk with regard to these deposits is not significant.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. As of December 31, 2021 and December 31, 2020, the Company did not have any cash equivalents.
Marketable Securities	Marketable Securities The Company accounts for marketable debt securities, the only type of securities it owns, in accordance with the FASB Accounting Standards Codification 320, Investments – Debt and Equity Securities (“ASC 320”). Pursuant to ASC 320-10-35-1, investments in debt securities that are classified as available for sale shall be measured subsequently at fair value in the condensed consolidated balance sheets at each balance sheet date. Unrealized holding gains and losses for available-for-sale securities (including those classified as current assets) shall be excluded from earnings and reported in other comprehensive income until realized. During the year ended December 31, 2021 the Company purchased $ 10,395,547 and sold $ 485,946 in marketable securities with a realized loss of $ 2,486 and an unrealized loss of $ 77,029 . As of December 31, 2021 and December 31, 2020, the Company owned marketable securities with a total value of $ 9,830,085 and $ 0 , respectively.
Fair Value Measurements	Fair Value Measurements ASC 820, “Fair Value Measurements and Disclosure,” defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, not adjusted for transaction costs. ASC 820 also establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels giving the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels are described below: Level 1 Inputs – Unadjusted quoted prices in active markets for identical assets or liabilities that is accessible by the Company; Level 2 Inputs – Quoted prices in markets that are not active or financial instruments for which all significant inputs are observable, either directly or indirectly; Level 3 Inputs – Unobservable inputs for the asset or liability including significant assumptions of the Company and other market participants. The carrying amount of the Company’s financial assets and liabilities, such as cash, accounts payable and accrued expenses approximate their fair value because of the short term maturity of those instruments. The carrying value of long-term debt approximates fair value since the related rates of interest approximate current market rates. Transactions involving related parties cannot be presumed to be carried out on an arm’s-length basis, as the requisite conditions of competitive, free-market dealings may not exist. Representations about transactions with related parties, if made, shall not imply that the related party transactions were consummated on terms equivalent to those that prevail in arm’s-length transactions unless such representations can be substantiated. The assets or liability’s fair value measurement within the fair value hierarchy is based upon the lowest level of any input that is significant to the fair value measurement. The following table provides a summary of financial instruments that are measured at fair value on a recurring basis as of December 31, 2021. SCHEDULE OF FAIR VALUE ASSETS AND LIABILITIES MEASURED ON RECURRING BASIC Carrying Fair Value Measurement Using Value Level 1 Level 2 Level 3 Total Marketable securities $ 9,830,085 $ 9,830,085 $ — $ — $ 9,830,085 Derivative warrants liabilities $ — $ — $ — $ — $ — The following table provides a summary of financial instruments that are measured at fair value on a recurring basis as of December 31, 2020. Carrying Fair Value Measurement Using Value Level 1 Level 2 Level 3 Total Marketable securities $ — $ — $ — $ — $ — Derivative warrants liabilities $ 83,670 $ — $ — $ 83,670 $ 83,670 The table below provides a summary of the changes in fair value, including net transfers in and/or out, of all financial assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the year ended December 31, 2021: SCHEDULE OF FAIR VALUE, LIABILITIES MEASURED ON RECURRING BASIS, UNOBSERVABLE INPUT RECONCILIATION Fair Value Measurement Using Level 3 Inputs Total Balance, December 31, 2020 $ 83,670 Change in fair value of derivative warrants liabilities (83,670 ) Balance, December 31, 2021 $ - The fair value of the derivative feature of the 127,346 295,945 SCHEDULE OF FAIR VALUE MEASUREMENTS, RECURRING AND NONRECURRING, VALUATION TECHNIQUES December 31, 2020 Exercise price 1.25 Risk free interest rate 0.09 % Dividend yield 0.00 % Expected volatility 169 % Contractual term 0.14 Risk-free interest rate: The Company uses the risk-free interest rate of a U.S. Treasury Note with a similar expected term on the date of measurement. Dividend yield: The Company uses a 0 Volatility: The Company calculates the expected volatility of the stock price based on the corresponding volatility of the Company’s peer group stock price for a period consistent with the warrants’ expected term. Expected term: The Company’s expected term is based on the remaining contractual maturity of the warrants. During the years ended December 31, 2021 and 2020, the Company marked the derivative feature of the warrants to fair value and recorded a gain of $ 83,670 248,552
Derivative Liability	Derivative Liability The Company evaluates its options, warrants or other contracts, if any, to determine if those contracts or embedded components of those contracts qualify as derivatives to be separately accounted for in accordance with ASC 815-10-05-4 and 815-40-25. The result of this accounting treatment is that the fair value of the embedded derivative is marked-to-market each balance sheet date and recorded as either an asset or a liability. In the event that the fair value is recorded as a liability, the change in fair value is recorded in the condensed consolidated statements of operations as other income or expense. Upon conversion, exercise or cancellation of a derivative instrument, the instrument is marked to fair value at the date of conversion, exercise or cancellation and then the related fair value is reclassified to equity. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is re-assessed at the end of each reporting period. Equity instruments that are initially classified as equity that become subject to reclassification are reclassified to liability at the fair value of the instrument on the reclassification date. Derivative instrument liabilities will be classified in the balance sheet as current or non-current based on whether or not net-cash settlement of the derivative instrument is expected within 12 months of the balance sheet date.
Stock-Based Compensation	Stock-Based Compensation The Company accounts for stock based compensation costs under the provisions of ASC 718, “Compensation—Stock Compensation”, which requires the measurement and recognition of compensation expense related to the fair value of stock based compensation awards that are ultimately expected to vest. Stock based compensation expense recognized includes the compensation cost for all stock based payments granted to employees, officers, non-employees, and directors based on the grant date fair value estimated in accordance with the provisions of ASC 718. ASC. 718 is also applied to awards modified, repurchased, or canceled during the periods reported. If any award granted under the Company’s 2016 Equity Compensation Plan (the “2016 Plan”) payable in shares of common stock is forfeited, cancelled, or returned for failure to satisfy vesting requirements, otherwise terminates without payment being made, or if shares of common stock are withheld to cover withholding taxes on options or other awards, the number of shares of common stock as to which such option or award was forfeited, or which were withheld, will be available for future grants under the 2016 Plan. The Company recognizes the impact of forfeitures when they occur.
Basic and Diluted Net (Loss) per Common Share	Basic and Diluted Net (Loss) per Common Share Basic (loss) per common share is computed by dividing the net (loss) by the weighted average number of shares of common stock outstanding for each period. Diluted (loss) per share is computed by dividing the net (loss) by the weighted average number of shares of common stock outstanding plus the dilutive effect of shares issuable through the common stock equivalents. The effect of dilution on net loss becomes anti-dilutive and therefore is not reflected on the consolidated statements of operations and comprehensive loss. SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE Potentially Outstanding For the Year Ended December 31, 2021 For the Year Ended December 31, 2020 Conversion Feature Shares Common shares issuable under the conversion feature of preferred shares - 872,766 Stock Options 5,520,861 5,597,861 Warrants 6,132,630 4,007,058 Convertible Notes 412,000 1,598,000 Total potentially outstanding dilutive common shares 12,065,491 12,075,685
Research and Development	Research and Development Research and development expenses are charged to operations as incurred.
Foreign Currency Translation	Foreign Currency Translation The Company follows ASC 830, Foreign Currency Matters The functional currency of each foreign subsidiary is determined based on management’s judgment and involves consideration of all relevant economic facts and circumstances affecting the subsidiary. Generally, the currency in which the subsidiary transacts a majority of its transactions, including billings, financing, payroll and other expenditures, would be considered the functional currency, but any dependency upon the parent and the nature of the subsidiary’s operations must also be considered. If a subsidiary’s functional currency is deemed to be the local currency, then any gain or loss associated with the translation of that subsidiary’s financial statements is included in accumulated other comprehensive income. However, if the functional currency is deemed to be the U.S. Dollar, then any gain or loss associated with the re-measurement of these financial statements from the local currency to the functional currency would be included in the condensed consolidated statements of operations and comprehensive income (loss). If the Company disposes of foreign subsidiaries, then any cumulative translation gains or losses would be recorded into the condensed consolidated statements of operations and comprehensive income (loss). If the Company determines that there has been a change in the functional currency of a subsidiary to the U.S. Dollar, any translation gains or losses arising after the date of change would be included within the condensed consolidated statements of operations and comprehensive loss. Based on an assessment of the factors discussed above, the management of the Company determined its subsidiary’s local currency (i.e. the Canadian dollar) to be the functional currency for its foreign subsidiary.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Management does not believe that any recently issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
SCHEDULE OF FAIR VALUE ASSETS AND LIABILITIES MEASURED ON RECURRING BASIC	The assets or liability’s fair value measurement within the fair value hierarchy is based upon the lowest level of any input that is significant to the fair value measurement. The following table provides a summary of financial instruments that are measured at fair value on a recurring basis as of December 31, 2021. SCHEDULE OF FAIR VALUE ASSETS AND LIABILITIES MEASURED ON RECURRING BASIC Carrying Fair Value Measurement Using Value Level 1 Level 2 Level 3 Total Marketable securities $ 9,830,085 $ 9,830,085 $ — $ — $ 9,830,085 Derivative warrants liabilities $ — $ — $ — $ — $ — The following table provides a summary of financial instruments that are measured at fair value on a recurring basis as of December 31, 2020. Carrying Fair Value Measurement Using Value Level 1 Level 2 Level 3 Total Marketable securities $ — $ — $ — $ — $ — Derivative warrants liabilities $ 83,670 $ — $ — $ 83,670 $ 83,670
SCHEDULE OF FAIR VALUE, LIABILITIES MEASURED ON RECURRING BASIS, UNOBSERVABLE INPUT RECONCILIATION	The table below provides a summary of the changes in fair value, including net transfers in and/or out, of all financial assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the year ended December 31, 2021: SCHEDULE OF FAIR VALUE, LIABILITIES MEASURED ON RECURRING BASIS, UNOBSERVABLE INPUT RECONCILIATION Fair Value Measurement Using Level 3 Inputs Total Balance, December 31, 2020 $ 83,670 Change in fair value of derivative warrants liabilities (83,670 ) Balance, December 31, 2021 $ -
SCHEDULE OF FAIR VALUE MEASUREMENTS, RECURRING AND NONRECURRING, VALUATION TECHNIQUES	SCHEDULE OF FAIR VALUE MEASUREMENTS, RECURRING AND NONRECURRING, VALUATION TECHNIQUES December 31, 2020 Exercise price 1.25 Risk free interest rate 0.09 % Dividend yield 0.00 % Expected volatility 169 % Contractual term 0.14
SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE	SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE Potentially Outstanding For the Year Ended December 31, 2021 For the Year Ended December 31, 2020 Conversion Feature Shares Common shares issuable under the conversion feature of preferred shares - 872,766 Stock Options 5,520,861 5,597,861 Warrants 6,132,630 4,007,058 Convertible Notes 412,000 1,598,000 Total potentially outstanding dilutive common shares 12,065,491 12,075,685

ACCOUNTS PAYABLE AND ACCRUED _2

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)	12 Months Ended
	Dec. 31, 2021
Payables and Accruals [Abstract]
SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES	Accounts payable and accrued expenses consist of the following at: SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES December 31, December 31, Accounting $ 68,151 $ 36,161 Research and development 375,427 393,496 Legal 77,000 - Other 278,947 141,860 Total $ 799,535 $ 571,517

NOTE PAYABLE AND CONVERTIBLE _2

NOTE PAYABLE AND CONVERTIBLE NOTE PAYABLE (PIK NOTES) (Tables)	12 Months Ended
	Dec. 31, 2021
Convertible Notes Payable [Member]
Short-term Debt [Line Items]
SCHEDULE OF MATURITY DATE OF NOTES	As of December 31, 2021 and December 31, 2020, the Company owes $ 315,000 1,597,500 SCHEDULE OF MATURITY DATE OF NOTES Maturity Date of Notes for Year Ending December 31, 2021, Amount due 2022 $ - 2023 315,000 2024 - 2025 - 2026 - Total $ 315,000
Convertible Notes Payable Related Party [Member]
Short-term Debt [Line Items]
SCHEDULE OF MATURITY DATE OF NOTES	As of December 31, 2021 and December 31, 2020, the Company owes $ 200,000 400,000 SCHEDULE OF MATURITY DATE OF NOTES Maturity Date of Notes for Year Ending December 31, 2021, Amount due 2022 $ - 2023 200,000 2024 - 2025 - 2026 - Total $ 200,000

STOCKHOLDERS_ DEFICIT (Tables)

STOCKHOLDERS’ DEFICIT (Tables)	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
SCHEDULE OF SHARE-BASED PAYMENT AWARD, STOCK OPTIONS, VALUATION ASSUMPTIONS	There were 5,520,861 SCHEDULE OF SHARE-BASED PAYMENT AWARD, STOCK OPTIONS, VALUATION ASSUMPTIONS Exercise price $ 1.96 5.60 Expected dividend yield 0 % Risk free interest rate 0.81 1.58 % Expected life in years 5 10 Expected volatility 147 158 % There were 5,597,861 Exercise price $ 1.75 Expected dividend yield 0 % Risk free interest rate 0.64 1.61 % Expected life in years 10 Expected volatility 140 146 %
SCHEDULE OF SHARE-BASED COMPENSATION, STOCK OPTIONS, ACTIVITY	The following is an analysis of the stock option grant activity under the Plan: SCHEDULE OF SHARE-BASED COMPENSATION, STOCK OPTIONS, ACTIVITY Weighted Average Weighted Average Number Exercise Price Remaining Life Stock Options Outstanding December 31, 2020 5,597,861 $ 1.47 6.48 Granted 583,000 $ 4.77 9.12 Expired (290,000 ) $ 1.00 - Exercised (370,000 ) $ 1.48 - Outstanding December 31, 2021 5,520,861 $ 1.84 6.32
SCHEDULE OF SHARE-BASED COMPENSATION NONVESTED SHARES	A summary of the status of the Company’s nonvested options as of December 31, 2021, and changes during the year ended December 31, 2021, is presented below: SCHEDULE OF SHARE-BASED COMPENSATION NONVESTED SHARES Nonvested Options Options Weighted- Average Nonvested at December 31, 2020 862,833 $ 1.75 Granted 583,000 $ 4.77 Vested (635,500 ) $ 3.07 Forfeited - $ - Nonvested at December 31, 2021 810,333 $ 3.08
SUMMARY OF WARRANT ISSUANCES	A summary of warrant issuances are as follows: SUMMARY OF WARRANT ISSUANCES Weighted Average Weighted Average Number Exercise Price Remaining Life Warrants Outstanding December 31, 2020 4,007,058 $ 1.06 1.86 Granted 3,657,000 4.98 4.83 Expired (150,249 ) 1.25 - Exercised (1,381,179 ) 1.13 - Outstanding December 31, 2021 6,132,630 $ 3.38 3.15

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
SCHEDULE OF LOSS BEFORE INCOME TAX	The components of loss before income taxes are as follows: SCHEDULE OF LOSS BEFORE INCOME TAX 2020 2020 Domestic (4,522,862 ) (2,542,428 ) Foreign (72 ) (6,307 ) Loss before income taxes (4,522,934 ) (2,548,735 )
SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION	For the years ended December 31, 2021 and 2020, a reconciliation of the Company’s effective tax rate to the statutory U.S. Federal rate is as follows: SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION 2021 2020 Income taxes at Federal statutory rate (21.0 )% (21.0 )% State income taxes, net of Federal income tax effect (8.9 )% (8.6 )% Perm difference 0.0 % 0.0 )% Foreign tax rate differential 0.0 % (0.4 )% Change in valuation allowance 29.9 % 30.0 % Other 0.0 % 0.0 % Income tax provision 0.0 % 0.0 %
SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES	The tax effects of temporary differences that give rise to the Company’s deferred tax assets and liabilities are as follows: SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES 2021 2020 U.S. net operating loss carryforwards 3,779,000 2,907,000 Stock compensation 1,672,000 1,217,000 Canadian Provincial income tax losses (3,000 ) 7,000 Canadian Provincial scientific investment tax credits (27,000 ) (10,000 ) Deferred tax assets, gross 5,421,000 4,121,000 Valuation allowance (5,421,000 ) (4,121,000 ) Net deferred tax assets - -

SCHEDULE OF FAIR VALUE ASSETS A

SCHEDULE OF FAIR VALUE ASSETS AND LIABILITIES MEASURED ON RECURRING BASIC (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, current	$ 9,830,085
Derivative liability, current		83,670
Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, fair value disclosure	9,830,085
Derivative liability		83,670
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, fair value disclosure	9,830,085
Derivative liability
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, fair value disclosure
Derivative liability
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, fair value disclosure
Derivative liability		$ 83,670

SCHEDULE OF FAIR VALUE, LIABILI

SCHEDULE OF FAIR VALUE, LIABILITIES MEASURED ON RECURRING BASIS, UNOBSERVABLE INPUT RECONCILIATION (Details)	12 Months Ended
	Dec. 31, 2021USD ($)
Accounting Policies [Abstract]
Balance at beginning	$ 83,670
Change in fair value of derivative warrants liabilities	(83,670)
Balance at end

SCHEDULE OF FAIR VALUE MEASUREM

SCHEDULE OF FAIR VALUE MEASUREMENTS, RECURRING AND NONRECURRING, VALUATION TECHNIQUES (Details)	12 Months Ended
	Dec. 31, 2020$ / shares	Dec. 31, 2021
Measurement Input, Exercise Price [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Share price	$ 1.25
Measurement Input, Risk Free Interest Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative liability measurement input	0.0009
Measurement Input, Expected Dividend Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative liability measurement input	0	0
Measurement Input, Price Volatility [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative liability measurement input	1.69
Measurement Input, Expected Term [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative liability measurement input, contractual term	1 month 20 days

SCHEDULE OF ANTIDILUTIVE SECURI

SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE (Details) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially outstanding dilutive common shares	12,065,491	12,075,685
Conversion Feature Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially outstanding dilutive common shares		872,766
Equity Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially outstanding dilutive common shares	5,520,861	5,597,861
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially outstanding dilutive common shares	6,132,630	4,007,058
Convertible Notes [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially outstanding dilutive common shares	412,000	1,598,000

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	12 Months Ended
	Dec. 31, 2021USD ($)shares	Dec. 31, 2020USD ($)
Subsidiary, Sale of Stock [Line Items]
Payments to Acquire Marketable Securities	$ 10,395,547
Proceeds from Sale and Maturity of Marketable Securities	485,946
Realized loss on marketable securities	2,486
Unrealized loss on marketable securities	77,029
Marketable Securities	9,830,085	0
Derivative, gain (loss) on derivative, net	$ 83,670	$ 248,552
Measurement Input, Expected Dividend Rate [Member]
Subsidiary, Sale of Stock [Line Items]
Derivative liability measurement input	0	0
Private Placement [Member]
Subsidiary, Sale of Stock [Line Items]
Fair value of derivative feature	$ 127,346
Class of warrant or right, issued | shares	295,945

SCHEDULE OF ACCOUNTS PAYABLE AN

SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Accounting	$ 68,151	$ 36,161
Research and development	375,427	393,496
Other	278,947	141,860
Total	$ 799,535	$ 571,517

ACCOUNTS PAYABLE AND ACCRUED _3

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details Narrative) - USD ($)	Feb. 13, 2020	Oct. 01, 2019	Dec. 31, 2021	Dec. 31, 2020	Oct. 02, 2019
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Registration Payment Arrangement, Event to Transfer Consideration		On October 1, 2019, the Company entered into an agreement with a consultant for toxicology studies. The consultant quoted a commitment of approximately $
[custom:ProtocolPricePlusFee]		$ 7,000
Payments for consultant			$ 7,697	$ 594,134
Due to consultant			$ 0
Number of option shares issued			583,000
Options exercise price			$ 1.48
Consultant [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Estimate commitment amount					$ 988,000
CFO [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Number of option shares issued	187,497
Number of option shares issued, value	$ 93,950
Options exercise price	$ 1.75
Option expired term	10 years

SCHEDULE OF MATURITY DATE OF NO

SCHEDULE OF MATURITY DATE OF NOTES (Details)	Dec. 31, 2021USD ($)
Convertible Notes Payable [Member]
Short-term Debt [Line Items]
2022
2023	315,000
2024
2025
2026
Total	315,000
Convertible Notes Payable Related Party [Member]
Short-term Debt [Line Items]
2022
2023	200,000
2024
2025
2026
Total	$ 200,000

NOTE PAYABLE AND CONVERTIBLE _3

NOTE PAYABLE AND CONVERTIBLE NOTE PAYABLE (PIK NOTES) (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	May 01, 2021	Mar. 01, 2021
Short-term Debt [Line Items]
Amortized debt discount	$ 427,137	$ 154,899
Debt unamortized debt discount	$ 182,716	516,116
Debt Conversion, Converted Instrument, Shares Issued	1,093,519
Debt Conversion, Converted Instrument, Amount	$ 1,282,500
Promissory Note [Member]
Short-term Debt [Line Items]
Notes payable	$ 7,500,000			$ 100,000
Maturity date	Feb. 28, 2026
Interest rate, stated percentage	110.00%		7.50%
Derivative, fair value, net	$ 25,000
Promissory Note [Member] | Prime Rate [Member]
Short-term Debt [Line Items]
Interest rate, stated percentage				5.00%
Unsecured Convertible Notes [Member]
Short-term Debt [Line Items]
Convertible notes payable outstanding	0	0
Amortized debt discount	333,400	117,036
Interest Receivable	91,593
[custom:DebtInstrumentUnamortizedConvertedDiscount-0]	186,785
Unsecured Convertible Notes With Related Parties [Member]
Short-term Debt [Line Items]
Amortized debt discount	93,737	28,345
Debt unamortized debt discount	13,851	$ 107,588
Unsecured Convertible Notes With Related Parties [Member] | Common Stock [Member]
Short-term Debt [Line Items]
Amortized debt discount	93,737
Debt unamortized debt discount	$ 63,607
Debt Conversion, Converted Instrument, Shares Issued	176,666
Debt Conversion, Converted Instrument, Amount	$ 200,000
Interest Receivable	$ 20,875

SCHEDULE OF SHARE-BASED PAYMENT

SCHEDULE OF SHARE-BASED PAYMENT AWARD, STOCK OPTIONS, VALUATION ASSUMPTIONS (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Exercise price		$ 1.75
Expected dividend yield	0.00%	0.00%
Expected life in years		10 years
Minimum [Member]
Exercise price	$ 1.96
Risk free interest rate	81.00%	0.64%
Expected life in years	5 years
Expected volatility	147.00%	140.00%
Maximum [Member]
Exercise price	$ 5.60
Risk free interest rate	158.00%	1.61%
Expected life in years	10 years
Expected volatility	158.00%	146.00%

SCHEDULE OF SHARE-BASED COMPENS

SCHEDULE OF SHARE-BASED COMPENSATION, STOCK OPTIONS, ACTIVITY (Details)	12 Months Ended
	Dec. 31, 2021$ / sharesshares
Equity [Abstract]
Stock Options Outstanding, Beginning | shares	5,597,861
Weighted Average Exercisable Price, Stock Options Outstanding, Beginning | $ / shares	$ 1.47
Weighted Average Remaining Life, Stock Options Outstanding, Beginning	6 years 5 months 23 days
Stock Options, Granted | shares	583,000
Weighted Average Exercisable Price, Stock Options Outstanding, Granted | $ / shares	$ 4.77
Weighted average remaining contractual term	9 years 1 month 13 days
Stock Options, Expired | shares	(290,000)
Weighted Average Exercisable Price, Stock Options Outstanding, Expired | $ / shares	$ 1
Stock Option, Exercised | shares	(370,000)
Weighted Average Exercisable Price, Stock Options Outstanding, Exercised | $ / shares	$ 1.48
Stock Options Outstanding, Ending | shares	5,520,861
Weighted Average Exercisable Price, Stock Options Outstanding, Ending | $ / shares	$ 1.84
Weighted average remaining life, stock options outstanding, ending	6 years 3 months 25 days

SCHEDULE OF SHARE-BASED COMPE_2

SCHEDULE OF SHARE-BASED COMPENSATION NONVESTED SHARES (Details)	12 Months Ended
	Dec. 31, 2021$ / sharesshares
Equity [Abstract]
Nonvested Options, Ending Balance | shares	862,833
Weighted Average Exercise Price, Ending Balance | $ / shares	$ 1.75
Nonvested Options, Granted | shares	583,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares	$ 4.77
Nonvested Options, Vested | shares	(635,500)
Weighted Average Exercise Price, Vested | $ / shares	$ 3.07
Nonvested Options, Forfeited | shares
Weighted Average Exercise Price, Forfeited | $ / shares
Nonvested Options, Ending Balance | shares	810,333
Weighted Average Exercise Price, Ending Balance | $ / shares	$ 3.08

SUMMARY OF WARRANT ISSUANCES (D

SUMMARY OF WARRANT ISSUANCES (Details)	12 Months Ended
	Dec. 31, 2021$ / sharesshares
Equity [Abstract]
Number of Warrants Outstanding, Beginning | shares	4,007,058
Number of Warrants Outstanding, Weighted Average Exercise Price, Beginning | $ / shares	$ 1.06
Number of Warrants Outstanding, Weighted Average Remaining Life	1 year 10 months 9 days
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted | shares	3,657,000
Number of Warrants Outstanding, Weighted Average Exercise Price, Granted | $ / shares	$ 4.98
Number of warrants outstanding weighted average remaining life granted	4 years 9 months 29 days
Number of Warrants Outstanding, Expired | shares	(150,249)
Number of Warrants Outstanding, Weighted Average Exercise Price, Expired | $ / shares	$ 1.25
Number of Warrants Outstanding, Exercised | shares	(1,381,179)
Number of Warrants Outstanding, Weighted Average Exercise Price, Exercised | $ / shares	$ 1.13
Number of Warrants Outstanding, Ending | shares	6,132,630
Number of Warrants Outstanding, Weighted Average Exercise Price, Ending | $ / shares	$ 3.38
Number of Warrants Outstanding, Weighted Average Remaining Life	3 years 1 month 24 days

STOCKHOLDERS_ DEFICIT (Details

STOCKHOLDERS’ DEFICIT (Details Narrative) - USD ($)

Aug. 10, 2021

Jul. 26, 2021

May 26, 2021

Apr. 29, 2021

Feb. 25, 2021

Jan. 02, 2021

Feb. 25, 2020

Jan. 02, 2017

Jun. 30, 2021

Mar. 31, 2021

Dec. 31, 2021

Dec. 31, 2020

Subsidiary, Sale of Stock [Line Items]

Proceeds from Issuance Initial Public Offering

$ 11,700,000

Stock options outstanding

5,520,861

5,597,861

Stock options outstanding weighted average exercise price

$ 1.84

$ 1.47

Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value

$ 430,174

Number of option shares issued

583,000

Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price

$ 4.77

Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term

6 years 5 months 23 days

Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares

635,500

Stock issued during the period exercised

370,000

Commom stock issued

360,000

17,209,612

10,360,480

Proceeds from Stock Options Exercised

$ 532,500

Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number

6,132,630

4,007,058

Warrants outstanding

836,558

240,123

Proceeds from warrants exercised

$ 300,000

Options To Related Party [Member]

Subsidiary, Sale of Stock [Line Items]

Stock options outstanding

10,000

Stock options outstanding weighted average exercise price

$ 1

Stock issued during the period exercised

10,000

Warrants outstanding

231,277

2016 Plan [Member]

Subsidiary, Sale of Stock [Line Items]

Number of additional shares grants for issuance

569,826

564,378

Number of shares available for grant

1,693,134

5,438,449

4,868,623

Series B Prefered Stock [Member]

Subsidiary, Sale of Stock [Line Items]

Preferred Stock, Convertible, Shares Issuable

872,766

Common Stock [Member]

Subsidiary, Sale of Stock [Line Items]

Preferred Stock, Convertible, Shares Issuable

872,766

Employees [Member]

Subsidiary, Sale of Stock [Line Items]

Share-based Payment Arrangement, Expense

$ 769,479

Unamortized stock option expense

255,277

Non-Employees [Member]

Subsidiary, Sale of Stock [Line Items]

Share-based Payment Arrangement, Expense

$ 749,277

Unamortized stock option expense

$ 1,931,853

Unamortized stock compensation term

3 years 2 months 23 days

Share-based Payment Arrangement, Option [Member]

Subsidiary, Sale of Stock [Line Items]

Number of option shares issued

583,000

1,762,495

Share-based Payment Arrangement, Expense

$ 1,518,756

$ 1,427,084

Share-based Payment Arrangement, Option [Member] | Settlement of Accrued Compensation [Member]

Subsidiary, Sale of Stock [Line Items]

Number of option shares issued

5,000

32,000

180,000

Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price

$ 1.96

$ 2.09

$ 3.65

$ 5.60

Share-based Payment Award, Options, Vested in Period, Fair Value

$ 9,615

$ 65,626

$ 474,231

$ 2,009,063

Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term

10 years

10 years

10 years

Share-based Payment Arrangement, Option [Member] | Options Vested Over 48 Months [Member]

Subsidiary, Sale of Stock [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares

16,000

Option vest monthly

350,000

Share-based Payment Arrangement, Option [Member] | General and Administrative Expense [Member]

Subsidiary, Sale of Stock [Line Items]

Share-based Payment Arrangement, Expense

1,513,835

1,354,750

Share-based Payment Arrangement, Option [Member] | Research and Development Expense [Member]

Subsidiary, Sale of Stock [Line Items]

Share-based Payment Arrangement, Expense

4,921

$ 72,334

Share-based Payment Arrangement, Option [Member] | Minimum [Member]

Subsidiary, Sale of Stock [Line Items]

Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price

$ 1.96

Share-based Payment Arrangement, Option [Member] | Minimum [Member] | Settlement of Accrued Compensation [Member]

Subsidiary, Sale of Stock [Line Items]

Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term

5 years

Share-based Payment Arrangement, Option [Member] | Maximum [Member]

Subsidiary, Sale of Stock [Line Items]

Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price

$ 5.60

Share-based Payment Arrangement, Option [Member] | Maximum [Member] | Settlement of Accrued Compensation [Member]

Subsidiary, Sale of Stock [Line Items]

Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term

10 years

Share-based Payment Arrangement, Option [Member] | 5 Individuals [Member]

Subsidiary, Sale of Stock [Line Items]

Number of option shares issued

366,000

Share-based Payment Arrangement, Option [Member] | Related Parties [Member]

Subsidiary, Sale of Stock [Line Items]

Number of option shares issued

350,000

Equity Option [Member]

Subsidiary, Sale of Stock [Line Items]

Unamortized stock option expense

$ 2,187,130

Warrant [Member]

Subsidiary, Sale of Stock [Line Items]

Stock issued during the period exercised

1,008,137

Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number

6,132,630

Class of warrant or right, outstanding, weighted average exercise price

$ 3.38

Class of warrant or right, outstanding, intrinsic value

$ 928,802

Warrants outstanding

373,042

Proceeds from warrants exercised

$ 27,125

IPO [Member]

Subsidiary, Sale of Stock [Line Items]

Stock Issued During Period, Shares, New Issues

3,180,000

Number of Securities Called by Warrants or Rights

3,180,000

IPO [Member] | Underwriter [Member]

Subsidiary, Sale of Stock [Line Items]

Stock Issued During Period, Shares, New Issues

79,500

IPO [Member] | 45-day Option [Member]

Subsidiary, Sale of Stock [Line Items]

Number of Securities Called by Warrants or Rights

477,000

COLLABORATIVE AGREEMENTS (Detai

COLLABORATIVE AGREEMENTS (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2015
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Number of stock options vested	635,500
Research and development expense	$ 1,136,790	$ 699,797
Research Agreements [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development expense	$ 0	$ 0
University of Toronto [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Share-based compensation stock options, grants			25,000
Share-based compensation weighted average exercise price			$ 1
Share-based payment award, expiration period			10 years
Dr. David Lovejoy [Member] | Share-based Payment Arrangement, Option [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Share-based compensation stock options, grants	553,299
Number of stock options vested	441,623
Number of stock options expired	100,000
Options expiration date, description	These have an exercise price of $1.00, $1.25 or 1.75 and are exercisable over ten or thirteen year periods which end either on March 30, 2021, December 1, 2022, April 15, 2026, March 1, 2027, October 16, 2027 or on February 13, 2030

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Sep. 30, 2021
Finite-Lived Intangible Assets [Line Items]
Royalty Payment on behalf of sublicensee percentage			2.50%
Sales revenue	$ 0	$ 0
Licensing Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Royalty payment, percentage	2.50%
Up-front sub-license fees, percentage	10.00%
Interest owed percentage	3.00%
Proceeds settlement percentage	2.50%

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative)	12 Months Ended
	Dec. 31, 2021USD ($)
Related Party Transactions [Abstract]
Accrued expense related to services	$ 300,000

SCHEDULE OF LOSS BEFORE INCOME

SCHEDULE OF LOSS BEFORE INCOME TAX (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Domestic	$ (4,522,862)	$ (2,542,428)
Foreign	(72)	(6,307)
Loss before income taxes	$ (4,522,934)	$ (2,548,735)

SCHEDULE OF EFFECTIVE INCOME TA

SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income taxes at Federal statutory rate	(21.00%)	(21.00%)
State income taxes, net of Federal income tax effect	(8.90%)	(8.60%)
Perm difference	0.00%	0.00%
Foreign tax rate differential	0.00%	(0.40%)
Change in valuation allowance	29.90%	30.00%
Other	0.00%	0.00%
Income tax provision	0.00%	0.00%

SCHEDULE OF DEFERRED TAX ASSETS

SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
U.S. net operating loss carryforwards	$ 3,779,000	$ 2,907,000
Stock compensation	1,672,000	1,217,000
Canadian Provincial income tax losses	(3,000)	7,000
Canadian Provincial scientific investment tax credits	(27,000)	(10,000)
Deferred tax assets, gross	5,421,000	4,121,000
Valuation allowance	(5,421,000)	(4,121,000)
Net deferred tax assets

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards expiration description	The federal net operating losses generated prior to 2018 of $0.1 million will expire at various dates through 2037
Effective Income Tax Rate Reconciliation, Tax Credit, Research, Amount	$ 0	$ 0
No change in valuation allowance	$ 1,300,000	418,000
Losses Incurred After 2017 [Member]
Operating Loss Carryforwards [Line Items]
Percentage of corporations taxable income	80.00%
Losses Incurred Prior To 2018 [Member]
Operating Loss Carryforwards [Line Items]
Percentage of corporations taxable income	100.00%
Federal [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 10,935,000	7,550,000
State And Local [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 10,927,000	7,540,000
Operating loss carryforwards expiration description	state tax liabilities also through 2035
CANADA
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 1,446,000	$ 1,115,000
Operating loss carryforwards expiration description	The Canadian losses expire in stages beginning in 2026

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	Jan. 06, 2022	Feb. 17, 2022	Jan. 19, 2022	Dec. 31, 2021
Subsequent Event [Line Items]
Number of option shares issued				583,000
Option exercise price				$ 1.48
Subsequent Event [Member]
Subsequent Event [Line Items]
Number of option shares issued	16,000		50,000
Warrants to purchase common stock	16,000
Option term	5 years		10 years
Option exercise price	$ 1.25		$ 1.21
Convertible Notes Payable		$ 50,000
Stock Issued During Period, Shares, New Issues		43,666