Genelux (GNLX) 10-Q 14 Aug 23 2023 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2023	Aug. 09, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2023
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Entity File Number	001-41599
Entity Registrant Name	GENELUX CORPORATION
Entity Central Index Key	0001231457
Entity Tax Identification Number	77-0583529
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	2625 Townsgate Road
Entity Address, Address Line Two	Suite 230
Entity Address, City or Town	Westlake Village
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	91361
City Area Code	(805)
Local Phone Number	267-9889
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	GNLX
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		26,182,892

Condensed Balance Sheets

Condensed Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current Assets
Cash	$ 27,140	$ 397
Prepaid expenses and other current assets	1,543	1,495
Total Current Assets	28,683	1,892
Property and equipment, net	878	644
Right of use asset	1,710	1,335
Deferred offering costs		1,568
Other assets	92	92
Total Other Assets	2,680	3,639
TOTAL ASSETS	31,363	5,531
Current Liabilities
Accounts payable and accrued expenses	4,484	6,775
Accrued compensation	2,684	2,852
Accrued interest payable		1,178
Accrued interest payable - director and shareholders	60	3,817
Deferred revenue		170
Warrant liabilities		169
Lease liability, current portion	585	266
Notes payable - shareholders, net of debt discount of $108 in 2022		992
Convertible notes payable - shareholders, current portion, including $65 and $105 past due, respectively	65	15,407
Total Current Liabilities	7,878	31,626
Long-term Liabilities
Lease liability, long-term portion	1,229	1,164
Convertible notes payable, net of debt discount of $541 in 2022		8,524
Total Long-term Liabilities	1,229	9,688
Total Liabilities	9,107	41,314
Shareholders’ Equity (Deficit)
Preferred stock, Series A through K, par value $0.001, 10,000,000 shares authorized; no shares and 22,094,889 shares issued and outstanding, respectively;		22
Common stock, par value $0.001, 200,000,000 shares authorized; 25,855,511 and 9,126,726 shares issued and outstanding, respectively	26	9
Treasury stock, 433,333 shares, at cost	(433)	(433)
Additional paid-in capital	232,073	154,401
Accumulated other comprehensive income	2	2
Accumulated deficit	(209,412)	(189,784)
Total Shareholders’ Equity (Deficit)	22,256	(35,783)
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIT)	$ 31,363	$ 5,531

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt discount, current		$ 108
Convertible notes payable past due, current	$ 65	105
Debt discount, noncurrent		$ 541
Preferrred stock, par value		$ 22,095
Preferred stock, shares authorized		29,927,994
Preferred stock, shares issued		22,094,889
Preferred stock, shares outstanding		22,094,889
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	25,855,511	9,126,726
Common stock, shares outstanding	25,855,511	9,126,726
Treasury stock, shares	433,333	433,333
Series A Through K Preferred Stock [Member]
Preferrred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	22,094,889
Preferred stock, shares outstanding	0	22,094,889

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Revenues			$ 170
Operating expenses:
Research and development	2,943	1,827	5,788	4,196
General and administrative	2,452	972	6,239	2,067
Total operating expenses	5,395	2,799	12,027	6,263
Loss from operations	(5,395)	(2,799)	(11,857)	(6,263)
Other expenses:
Interest expense	(24)	(285)	(167)	(573)
Debt discount amortization		(50)	(649)	(99)
Financing costs			(3,110)
Debt extinguishment costs	(402)		(402)
Gain on forgiveness of PPP loan payable		314		314
Total other expenses	(426)	(21)	(4,328)	(358)
NET LOSS	$ (5,821)	$ (2,820)	$ (16,185)	$ (6,621)
BASIC LOSS PER COMMON SHARE	$ (0.23)	$ 0.31	$ (0.72)	$ (0.73)
DILUTED LOSS PER COMMON SHARE	$ (0.23)	$ 0.31	$ (0.72)	$ (0.73)
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING -BASIC	25,068,334	9,111,694	22,334,311	9,111,039
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING - DILUTED	25,068,334	9,111,694	22,334,311	9,111,039

Condensed Statements of Shareho

Condensed Statements of Shareholders' Equity (Deficit) (Unaudited) - USD ($) $ in Thousands	Series A Through K Preferred Stock [Member] Preferred Stock [Member]	Common Stock [Member]	Treasury Stock, Common [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance at Dec. 31, 2021	$ 22	$ 9	$ (433)	$ 151,866	$ 2	$ (184,577)	$ (33,111)
Balance, shares at Dec. 31, 2021	22,094,889	9,110,060	(433,333)
Stock compensation				669			669
Shares issued upon exercise of stock warrant
Shares issued upon exercise of stock warrant, shares		3,333
Net loss						(6,621)	(6,621)
Balance at Jun. 30, 2022	$ 22	$ 9	$ (433)	152,535	2	(191,198)	(39,063)
Balance, shares at Jun. 30, 2022	22,094,889	9,113,393	(433,333)
Balance at Dec. 31, 2021	$ 22	$ 9	$ (433)	151,866	2	(184,577)	(33,111)
Balance, shares at Dec. 31, 2021	22,094,889	9,110,060	(433,333)
Net loss							(5,207)
Balance at Dec. 31, 2022	$ 22	$ 9	$ (433)	154,401	2	(189,784)	(35,783)
Balance, shares at Dec. 31, 2022	22,094,889	9,126,726	(433,333)
Balance at Mar. 31, 2022	$ 22	$ 9	$ (433)	152,238	2	(188,378)	(36,540)
Balance, shares at Mar. 31, 2022	22,094,889	9,110,060	(433,333)
Stock compensation				297			297
Shares issued upon exercise of stock warrant
Shares issued upon exercise of stock warrant, shares		3,333
Net loss						(2,820)	(2,820)
Balance at Jun. 30, 2022	$ 22	$ 9	$ (433)	152,535	2	(191,198)	(39,063)
Balance, shares at Jun. 30, 2022	22,094,889	9,113,393	(433,333)
Balance at Dec. 31, 2022	$ 22	$ 9	$ (433)	154,401	2	(189,784)	(35,783)
Balance, shares at Dec. 31, 2022	22,094,889	9,126,726	(433,333)
Stock compensation				467			467
Issuance of common shares upon the closing of private financings, net of offering costs		$ 2		21,640			21,642
Issuance of common shares upon the closing of private financings, net of offering costs, shares		1,117,079
Conversion of notes payable-shareholders and accrued interest				1,865			1,865
Conversion of notes payable-shareholders and accrued interest, shares		73,134
Fair value of vested restricted stock units				627			627
Cost of stock option repricing				2,642			2,642
Shares issued upon exercise of stock warrant				1,174			1,174
Shares issued upon exercise of stock warrant, shares		123,494
Net loss						(16,185)	(16,185)
Issuance of common shares upon the closing of the initial public offering, net of offering costs		$ 3		12,629			12,632
Issuance of common shares upon the closing of the initial public offering, net of offering costs, shares		2,653,000
Issuance of common shares upon conversion of preferred stock	$ (22)	$ 8		14
Issuance of common shares upon conversion of preferred stock, shares	(22,094,889)	8,355,610
Issuance of common shares upon conversion of convertible notes payable, accrued interest and loan fees		$ 4		29,892			29,896
Issuance of common shares upon conversion of convertible notes payable, accrued interest and loan fees, shares		4,134,367
Issuance of common shares upon conversion of preferred stock dividends payable				3,443		(3,443)
Issuance of common shares upon conversion of preferred stock dividends payable, shares		272,101
Reclassification of warrant liabilities upon the closing of the initial public offering				169			169
Fair value of warrants issued in connection with the conversion of convertible notes payable				3,110			3,110
Balance at Jun. 30, 2023		$ 26	$ (433)	232,073	2	(209,412)	22,256
Balance, shares at Jun. 30, 2023		25,855,511	(433,333)
Balance at Mar. 31, 2023		$ 24	$ (433)	206,689	2	(203,591)	2,691
Balance, shares at Mar. 31, 2023		24,553,470	(433,333)
Stock compensation				240			240
Issuance of common shares upon the closing of private financings, net of offering costs		$ 2		21,640			21,642
Issuance of common shares upon the closing of private financings, net of offering costs, shares		1,117,079
Conversion of notes payable-shareholders and accrued interest				1,865			1,865
Conversion of notes payable-shareholders and accrued interest, shares		73,134
Fair value of vested restricted stock units				429			429
Cost of stock option repricing				36			36
Shares issued upon exercise of stock warrant				1,174			1,174
Shares issued upon exercise of stock warrant, shares		111,828
Net loss						(5,821)	(5,821)
Balance at Jun. 30, 2023		$ 26	$ (433)	$ 232,073	$ 2	$ (209,412)	$ 22,256
Balance, shares at Jun. 30, 2023		25,855,511	(433,333)

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Cash Flows from Operating Activities
Net loss	$ (5,821)	$ (2,820)	$ (16,185)	$ (6,621)	$ (5,207)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expense			271	277
Right-of-use asset			274	205
Amortization of debt discount		50	649	99
Stock compensation			467	669
Fair value of restricted stock units			627
Cost of stock option repricing			2,642
Debt extinguishment costs	402		402
Fair value of warrants issued in connection with the conversion of convertible notes payable			3,110
Gain on forgiveness of PPP loan payable		(314)		(314)
(Increase) Decrease in:
Prepaid expenses and other assets			(48)	(514)
(Decrease) Increase in:
Accounts payable and accrued expenses			(1,658)	940
Accrued compensation			(168)	12
Accrued interest payable			44	388
Deferred revenue			(170)	5,460
Lease liability			(265)	(184)
Net cash provided by (used in) operating activities			(10,008)	417	(3,571)
Cash Flows from Investing Activities
Purchases of property and equipment			(505)	(16)
Net cash used in investing activities			(505)	(16)
Cash Flows from Financing Activities
Proceeds from notes payable - shareholders			900
Repayment of notes payable - shareholders			(660)
Repayment of convertible notes payable - shareholders				(130)
Payment of deferred offering costs			(303)	(564)
Proceeds from the exercise of stock warrants			1,174
Proceeds from common stock issued for cash in connection with the closing of the IPO			14,503
Proceeds from common stock issued for cash in connection with the closing of private financings			21,642
Net cash provided by (used in) financing activities			37,256	(694)
Net increase (decrease) in cash			26,743	(293)
Cash beginning of period			397	4,495	4,495
Cash end of period	$ 27,140	$ 4,202	27,140	4,202	$ 397
Supplemental cash flows disclosures:
Interest paid			50	185
Taxes paid
Effect of the extension of right-of-use asset and operating lease			649	686
Reclassification of deferred offering costs to shareholders’ equity			1,871
Reclassification of warrant liabilities to shareholders’ equity			169
Conversion of convertible notes payable, accrued interest and loan fees to shareholders’ equity			29,896
Conversion of preferred stock to common stock			22
Conversion of dividends payable to shareholders’ equity			3,443
Conversion of notes payable-shareholders and accrued interest to shareholders’ equity			$ 1,463

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	NOTE 1 – BASIS OF PRESENTATION Organization and Operations Genelux Corporation (“Genelux” or the “Company”), a Delaware Corporation, incorporated on September 4, 2001, is a biomedical company located in Westlake Village, California. The Company is engaged in the research and development of diagnostic and therapeutic solutions for cancer for which there is no effective treatment today. The Company is focused on the development of therapeutic approaches for cancer that are designed to generate a personalized multi-prong attack to overwhelm a tumor’s sophisticated defense mechanisms. Basis of Presentation of Unaudited Financial Information The accompanying unaudited condensed financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all normal recurring adjustments considered necessary for a fair presentation have been included. Operating results for the six months ended June 30, 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. Liquidity and Capital Resources The accompanying condensed financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. During the year ended December 31, 2022, the Company incurred a net loss of $ 5,207 3,571 35,783 16,185 10,008 During the six months ended June 30, 2023, the Company closed its initial public offering (“IPO”) and the two Private Placements (see Note 9) and received $ 34,274 27,140 27,500 22,256 27,500 The ability to continue as a going concern is dependent on the Company attaining and maintaining profitable operations in the future and raising additional capital to meet its obligations and repay its liabilities arising from normal business operations when they come due. Since inception, the Company has funded its operations primarily through equity and debt financings, and licensing income, and it expects to continue to rely on these sources of capital in the future. No assurance can be given that any future financing will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company is able to obtain additional financing, it may contain undue restrictions on our operations, in the case of debt financing, or cause substantial dilution for our stockholders, in case of equity financing, or grant unfavorable terms in licensing future licensing agreements. Reverse Stock Split In August 2022, the Company effected a 1-for-3 reverse stock split

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use of Estimates The preparation of the financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the financial statement date, and reported amounts of revenue and expenses during the reporting period. Significant estimates are used in the valuation of accruals for potential liabilities, valuations of stock-based compensation, and realization of deferred tax assets, among others. Actual results could differ from these estimates. Income (Loss) Per Share Basic loss per share is computed by dividing net loss applicable to common stockholders by the weighted average number of outstanding common shares during the period. Diluted loss per share is computed by dividing the net loss applicable to common stockholders by the weighted average number of common shares outstanding plus the number of additional common shares that would have been outstanding if all dilutive potential common shares had been issued. For the six months ended June 30, 2023 and 2022, the basic and diluted shares outstanding were the same, as potentially dilutive shares were considered anti-dilutive. The potentially dilutive securities consisted of the following: SCHEDULE OF POTENTIALLY DILUTIVE SECURITIES June 30, June 30, Convertible notes payable - 3,339,752 Common stock equivalent of Series A through K convertible preferred stock - 7,567,630 Stock options 4,201,019 3,962,719 Stock warrants 932,854 751,745 Restricted stock units 113,500 - Stock warrants, issuable in connection with convertible notes payable 105,943 183,852 Total 5,353,316 15,805,698 Revenue Recognition The Company records revenue under the guidance of Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers (Topic 606) The Company determines revenue recognition through the following steps: ● Identification of the contract, or contracts, with a customer ● Identification of the performance obligations in the contract ● Determination of the transaction price ● Allocation of the transaction price to the performance obligations in the contract ● Recognition of revenue when, or as, we satisfy a performance obligation. Under certain of the Company’s licensing, supply and collaboration agreements, it is entitled to receive payment upon the achievement of contingent milestone events or the performance of obligations. The Company recognizes revenue based on guidance in ASC 606. In evaluating revenue recognition under a license agreement, the Company uses a two-step process for determining whether a promised good or service (including a license of intellectual property) is distinct and, therefore, is a performance obligation: (1) consideration of the individual good or service (i.e., whether the good or service is capable of being distinct); and (2) consideration of whether the good or service is separately identifiable from other promises in the contract (i.e., whether the promise to transfer the good or service is distinct in the context of the contract). Amounts received prior to satisfying the revenue recognition criteria are recorded as deferred revenue on the Company’s balance sheet. Amounts expected to be recognized as revenue in the next 12 months following the balance sheet date are classified as current liabilities. During the year ended December 31, 2022, the Company, under its Newsoara agreement, invoiced and collected $170 relating to supplying product for Newsoara to use in their clinical trials. As the product did not ship during the year ended December 31, 2022, the Company recorded the cash received as deferred revenue until the product was shipped. During the six months ended June 30, 2023, the Company shipped the product to Newsoara and thus recognized the revenue. Deferred Offering Costs The Company capitalizes certain legal, professional, accounting and other third-party fees that are directly associated with in-process equity issuances as deferred offering costs until such equity issuances are consummated. After consummation of the equity issuance, these costs are recorded as a reduction in the capitalized amount associated with the equity issuance. Should the equity issuance be delayed or abandoned, the deferred offering costs will be expensed immediately as a charge to operating expenses in the Statement of Operations. As of December 31, 2022, the Company incurred $ 1,568 303 1,871 Fair Value of Financial Instruments The Company determines the fair value of its assets and liabilities based on the exchange price in U.S. dollars that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value maximize the use of observable inputs and minimize the use of unobservable inputs. The Company uses a fair value hierarchy with three levels of inputs, of which the first two are considered observable and the last unobservable, to measure fair value: ● Level 1 — ● Level 2 — ● Level 3 — The carrying amount of the Company’s warrant liabilities of $ 169 Stock-Based Compensation The Company measures all stock options and other stock-based awards granted based on the fair value of the award on the date of the grant and recognizes compensation expense for those awards over the requisite service period, which is generally the vesting period of the respective award. The Company has elected to recognize forfeitures as they occur. The reversal of compensation cost previously recognized for an award that is forfeited because of a failure to satisfy a service or performance condition is recognized in the period of the forfeiture. Generally, the Company issues stock options with only service-based vesting conditions and records the expense for these awards using the straight-line method over the requisite service period. The Company classifies stock-based compensation expense in its statements of operations in the same manner in which the award recipient’s payroll costs are classified or in which the award recipients’ service payments are classified. The Company was a private company until the completion of its IPO on January 30, 2023. In 2022 and prior, the Company estimated the fair value of common stock using an appropriate valuation methodology, in accordance with the framework of the American Institute of Certified Public Accountants’ Technical Practice Aid, Valuation of Privately-Held Company Equity Securities Issued as Compensation. Each valuation methodology includes estimates and assumptions that require the Company’s judgment. These estimates and assumptions include a number of objective and subjective factors, including external market conditions, guideline public company information, the prices at which the Company sold its common stock to third parties in arms’ length transactions, the rights and preferences of securities senior to the Company’s common stock at the time, and the likelihood of achieving a liquidity event such as an initial public offering or sale. Significant changes to the assumptions used in the valuations could result in different fair values of stock options at each valuation date, as applicable. The fair value of each stock option grant is estimated using the Black-Scholes option-pricing model. The Company was a private company and lacked company-specific historical and implied volatility information. Therefore, it estimated its expected stock volatility based on the historical volatility of a publicly traded set of peer companies within the biotechnology industry with characteristics similar to the Company. The expected term of the Company’s stock options has been determined utilizing the “simplified” method for awards that qualify as “plain-vanilla” options. The expected term of stock options granted to non-employees is equal to the contractual term of the option award. The risk-free interest rate is determined by reference to the U.S. Treasury yield curve in effect at the time of grant of the award for time periods approximately equal to the expected term of the award. Expected dividend yield is zero, based on the fact that the Company has never paid cash dividends and does not expect to pay any cash dividends in the foreseeable future. Recent Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Credit Losses—Measurement of Credit Losses on Financial Instruments (“ASC 326”). The standard significantly changes how entities will measure credit losses for most financial assets, including accounts and notes receivables. The standard will replace today’s “incurred loss” approach with an “expected loss” model, under which companies will recognize allowances based on expected rather than incurred losses. Entities will apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The standard is effective for the Company beginning January 1, 2023. The adoption of ASU 2016-13 did not have a material impact on the Company’s financial position, results of operations, and cash flows. In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt—Modifications and Extinguishments (Subtopic 470-50), Compensation—Stock Compensation (Topic 718), and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options. ASU 2021-04 provides clarification and reduces diversity in an issuer’s accounting for modifications or exchanges of freestanding equity-classified written call options (such as warrants) that remain equity classified after modification or exchange. An issuer measures the effect of a modification or exchange as the difference between the fair value of the modified or exchanged warrant and the fair value of that warrant immediately before modification or exchange. ASU 2021-04 introduces a recognition model that comprises four categories of transactions and the corresponding accounting treatment for each category (equity issuance, debt origination, debt modification, and modifications unrelated to equity issuance and debt origination or modification). ASU 2021-04 is effective for all entities for fiscal years beginning after December 15, 2021. The adoption of ASU 2021-04 did not have a material impact on the Company’s financial statements or disclosures. Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company’s present or future consolidated financial statements.

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	6 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	NOTE 3 - PROPERTY AND EQUIPMENT Property and equipment consisted of the following at June 30, 2023 and December 31, 2022: SCHEDULE OF PROPERTY AND EQUIPMENT June 30, December 31, Furniture and office equipment $ 148 $ 148 Laboratory equipment 2,762 2,762 Computer equipment 127 127 Leasehold improvements 557 557 Construction-in-progress 505 - Property and equipment, gross 4,099 3,594 Less: accumulated depreciation and amortization (3,221 ) (2,950 ) Property and equipment, net $ 878 $ 644 Depreciation expense for the six months ended June 30, 2023 and 2022 was $ 271 277

ACCRUED COMPENSATION

ACCRUED COMPENSATION	6 Months Ended
	Jun. 30, 2023
Accrued Compensation
ACCRUED COMPENSATION	NOTE 4 – ACCRUED COMPENSATION As of June 30, 2023 and December 31, 2022, the Company had accrued compensation owed to the Company’s Chief Executive Officer, another employee and two former employees that had accrued over a several year period. During the six months ended June 30, 2023, the Company repaid $ 283 2,684 2,852

LEASE LIABILITIES

LEASE LIABILITIES	6 Months Ended
	Jun. 30, 2023
Lease Liabilities
LEASE LIABILITIES	NOTE 5 – LEASE LIABILITIES Operating Leases The Company accounts for leases in accordance with ASC 842, which requires a lessee to record a right-of-use asset and a corresponding lease liability at the inception of the lease initially measured at the present value of the lease payments. In July 2018, the Company entered into a long-term non-cancellable lease agreement for its manufacturing facility that requires aggregate average monthly payments of $ 10 option to extend for an additional five years 518 519 4.00 the option to extend the lease for an additional five years 174 860 4.00 686 In December 2020, the Company entered into a long-term non-cancellable lease agreement for a laboratory facility that requires aggregate average monthly payments of $ 18 439 4.00 extended the lease through December 2024, with no changes to any of the other terms of the lease 30 12 649 5.5 637 In July 2021, the Company entered into a long-term non-cancellable lease agreement for its new corporate headquarters that requires aggregate average monthly payments of $ 10 656 4.00 During the six months ended June 30, 2023 and 2022, the Company made combined aggregate payments of $ 265 184 1,814 1,430 ASC 842 requires recognition in the statement of operations of a single lease cost, calculated so that the cost of the lease is allocated over the lease term, generally on a straight-line basis. During the six months ended June 30, 2023 and 2022, the Company reflected combined amortization of the right of use assets of $ 274 205 1,710 1,335 Other Leases In November 2019, the Company entered into a short-term lease agreement for one of its office facilities, which was subsequently extended until December 2022 and is currently on a month-to-month basis. Rent expense was $ 18

NOTES PAYABLE _ SHAREHOLDERS

NOTES PAYABLE – SHAREHOLDERS	6 Months Ended
	Jun. 30, 2023
Notes Payable Shareholders
NOTES PAYABLE – SHAREHOLDERS	NOTE 6 – NOTES PAYABLE – SHAREHOLDERS During the year ended December 31, 2022, the Company, in anticipation of closing its IPO, entered into note payable agreements with several shareholders totaling $ 1,100 12 1,100 5 During the six months ended June 30, 2023, the Company extended the due date on the notes until April 30, 2023. During the six months ended June 30, 2023, the Company borrowed an additional $ 900 600 11 1,400 63 73,134 1,865 69 402 In consideration for the notes issued in 2022, the Company issued the note holders stock warrants to purchase up to an aggregate total of 44,441 169 SCHEDULE OF WARRANTS Exercise price $ 6.00 Expected dividends — Expected volatility 96.0 % Risk free interest rate 3.50 % Life of the warrants 3.0 The Company recognized a liability and recorded a debt discount at the date of issuance in 2022 in the amount of $ 169 61 108 108

CONVERTIBLE NOTES PAYABLE _ SHA

CONVERTIBLE NOTES PAYABLE – SHAREHOLDERS	6 Months Ended
	Jun. 30, 2023
Convertible Notes Payable Shareholders
CONVERTIBLE NOTES PAYABLE – SHAREHOLDERS	NOTE 7 – CONVERTIBLE NOTES PAYABLE – SHAREHOLDERS Convertible notes payable to shareholders consisted of the following as of June 30, 2023 and December 31, 2022: SCHEDULE OF CONVERTIBLE NOTES PAYABLE TO SHAREHOLDERS June 30, December 31, Convertible notes payable - shareholders (a) (a) $ 65 $ 7,838 Convertible note payable - shareholder (b) (b) — 1,500 Convertible notes payable – shareholders (c) (c) — 700 Convertible notes payable - shareholders (d) (d) — 5,369 Convertible notes payable - shareholders 65 15,407 Less: current portion (65 ) (15,407 ) Convertible notes payable – shareholders – long - term portion $ — $ — (a) During the years ended December 31, 2011 through 2016, the Company entered into convertible note payable agreements with individuals aggregating to a total amount of $ 7,988 8 25.73 As of December 31, 2022, the principal amount due on the notes aggregated to $ 7,838 2,890 60 36 15 7,778 2,867 Upon the closing of the IPO, all of the principal plus accrued and unpaid interest, except for $ 65 58 1,554,814 6.78 As of June 30, 2023, total principal of $ 65 60 8 (b) In April 2016, the Company entered into a convertible note payable agreement with a shareholder in the amount of $ 2,661 11.51 6.78 10 6.78 As of December 31, 2022, total principal of $ 1,500 560 10 1,500 570 Upon the closing of the IPO, all of the principal plus accrued and unpaid loan fees automatically converted into 303,835 6.78 (c) In April 2018, the Company entered into two convertible note payable agreements with a shareholder under which the Company borrowed an aggregate total of $ 700 5.0 12.00 90 As of December 31, 2022, total principal of $ 700 164 3 700 167 Upon the closing of the IPO, all of the principal plus accrued and unpaid interest automatically converted into 160,563 5.40 90 (d) During the years ended December 31, 2019 through 2021, the Company entered into convertible note payable agreements with several shareholders under which the Company borrowed an aggregate amount of $ 5,369 5.0 12.00 90 As of December 31, 2022, total principal of $ 5,369 758 22 5,369 780 Upon the closing of the IPO, all of the principal plus accrued and unpaid interest automatically converted into 1,134,063 5.40 90 111,828 10.50

CONVERTIBLE NOTES PAYABLE

CONVERTIBLE NOTES PAYABLE	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
CONVERTIBLE NOTES PAYABLE	NOTE 8 – CONVERTIBLE NOTES PAYABLE Convertible notes payable consisted of the following as of June 30, 2023 and December 31, 2022: SCHEDULE OF CONVERTIBLE NOTES PAYABLE June 30, December 31, Convertible note payable $ — $ 9,065 Less: debt discount — (541 ) Convertible notes payable, net $ — $ 8,524 During the years ended December 31, 2020 and 2021, the Company entered into convertible note payable agreements with an investing group under which the Company borrowed an aggregate amount of $ 9,065 6.0 10.50 146,641 10.50 As of December 31, 2022, the Company owed $ 9,065 1,178 45 9,065 1,223 The Company calculated the relative fair value of the warrants issued to the noteholder and recognized a debt discount at the date of issuance. The note discount is being amortized over the term of the note and the unamortized portion is recognized as a reduction to the carrying amount of the note (a valuation debt discount). As of December 31, 2022, the notes had an unamortized debt discount balance of $ 541 541 Upon the closing of the IPO, all of the principal plus accrued and unpaid interest automatically converted into 979,619 10.50

SHAREHOLDERS_ EQUITY

SHAREHOLDERS’ EQUITY	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
SHAREHOLDERS’ EQUITY	NOTE 9 - SHAREHOLDERS’ EQUITY Preferred Stock As of December 31, 2022, authorized shares and shares issued and outstanding of the Company’s preferred stock by series were as follows: SCHEDULE OF PREFERRED STOCK Authorized Issued and Par Series A Preferred Stock 4,500,000 4,500,000 4,500 Series B Preferred Stock 608,000 608,000 608 Series C Preferred Stock 5,000,000 5,000,000 5,000 Series D Preferred Stock 3,000,000 3,000,000 3,000 Series E Preferred Stock 1,591,994 1,591,994 1,592 Series F Preferred Stock 953,000 953,000 953 Series H Preferred Stock 5,000,000 536,000 536 Series I Preferred Stock 2,775,000 2,757,442 2,757 Series J Preferred Stock 2,500,000 1,281,600 1,282 Series K Preferred Stock 4,000,000 1,866,853 1,867 Total 29,927,994 22,094,889 22,095 Upon the closing of the Company’s IPO on January 30, 2023, all of the Company’s 22,094,889 8,355,610 991,172 As of January 30, 2023, earned but undeclared and unpaid Series H dividends were $ 3,443 272,101 In January 2023, the Company’s Certificate of Incorporation with the state of Delaware was amended to change the number of authorized preferred shares from 29,927,994 10,000,000 Common Stock Authorized Shares The Company’s Certificate of Incorporation authorizes the Company to issue up to 200,000,000 25,855,511 9,126,726 In January 2023, the Company’s Certificate of Incorporation with the state of Delaware was amended to change the number of authorized common shares from 75,000,000 200,000,000 Common Stock Issued for Cash Upon Closing of the Company’s IPO On January 30, 2023, the Company completed its underwritten IPO of its common stock, in which the Company issued and sold 2,500,000 6.00 153,000 6.00 15,918 12,632 Common Stock Issued for Cash Upon Closing of the Company’s Private Placements On May 12, 2023, the Company entered into a securities purchase agreement (the “PIPE 1 SPA”) with certain investors (the “PIPE 1 Purchasers”), pursuant to which the Company agreed to sell and issue 1,665,213 20.00 33,300 1,463 17,500 2,500 17,500 2,500 17,500 842,079 16,842 16,342 On June 9, 2023, the Company entered into another securities purchase agreement (the “PIPE 2 SPA”, and, together with the PIPE 1 SPA, the “Purchase Agreements”) with certain investors (the “PIPE 2 Purchasers”), pursuant to which the Company agreed to sell and issue 900,000 20.00 18,000 12,500 275,000 5,500 5,300 As of June 30, 2023, the Company sold 1,117,079 22,342 21,642 Grant of Restricted Stock Units The following table summarizes restricted common stock activity during the six months ended June 30, 2023: SCHEDULE OF RESTRICTED COMMON STOCK ACTIVITY Weighted Number of Average Grant Restricted Date Fair Shares Fair Value Value Non-vested, December 31, 2022 - $ - - Granted 113,500 746 6.57 Vested - (627 ) 6.57 Forfeited - - - Non-vested, June 30, 2023 113,500 $ 119 $ 6.57 On February 17, 2023, the Company’s Board of Directors approved the issuance of a combined total of 113,500 746 During the six months ended June 30, 2023, the Company recorded $ 627 119 Stock Options In August 2009, the Company’s Board of Directors approved the adoption of the 2009 Equity Incentive Plan (“the 2009 Plan”). The 2009 Plan was initiated to encourage and enable employees, directors and consultants of the Company to acquire and retain a proprietary interest in the Company by ownership of its common stock. A total of 6,166,666 In September 2018, the Company’s Board of Directors approved the adoption of the 2019 Equity Incentive Plan (“the 2019 Plan”). The 2019 Plan was initiated to encourage and enable employees, directors and consultants of the Company to acquire and retain a proprietary interest in the Company by ownership of its common stock. The 2019 Plan allows for the following types of awards: (i) Incentive Stock Options; (ii) Nonstatutory Stock Options; (iii) Stock Appreciation Rights; (iv) Restricted Stock Awards; (v) Restricted Stock Unit Awards; (vi) Other Stock Awards. The maximum number of shares of our common stock that may be issued under our 2019 Plan is 2,059,073 3,774,260 5,833,333 1,632,314 2,686,500 Option exercise prices are set forth in the Grant Notice, without commission or other charge, provided however, that the price per share of the shares subject to the option shall not be less than the greater of (i) 100% of the fair market value of a share of stock on the grant date, or (ii) 110% of the fair market value of a share of stock on the grant date in the case of a Participant then owning more than 10% of the total combined voting power of all classes of stock of the Company or any “subsidiary corporation” of the Company or any “parent corporation” of the Company. The Company’s policy is to recognize compensation cost for awards with only service conditions on a straight- line basis over the requisite service period for the entire award. Additionally, the Company’s policy is to issue new shares of common stock to satisfy stock option exercises. The Company applied fair value accounting for all share-based payments awards. The fair value of each option granted is estimated on the date of grant using the Black-Scholes option-pricing model. The table below summarizes the Company’s stock option activities for the six months ended June 30, 2023: SCHEDULE OF STOCK OPTION ACTIVITY Exercise Number of Price Range Weighted Average Option Shares Per Share Exercise Price Balance, December 31, 2022 4,201,019 $ 6.00 10.50 $ 6.09 Granted — — — Cancelled — — — Exercised — — — Expired — — — Balance, June 30, 2023 4,201,019 $ 6.00 10.50 $ 6.09 Vested and exercisable, June 30, 2023 4,005,267 $ 6.00 10.50 $ 6.10 Unvested, June 30, 2023 195,752 $ 6.00 $ 6.00 The following table summarizes information concerning outstanding and exercisable options as of June 30, 2023: SCHEDULE OF OUTSTANDING AND EXERCISABLE OPTIONS Options Outstanding Options Exercisable Average Average Remaining Weighted Remaining Weighted Range of Exercise Number Contractual Life Average Exercise Number Contractual Life Average Exercise Prices Outstanding (in years) Price Exercisable (in years) Price $ 6.00 4,092,887 4.98 $ 6.00 3,897,135 4.81 $ 6.00 9.00 10.50 108,132 2.31 9.67 108,132 2.31 9.67 $ 6.00 10.50 4,201,019 4.91 $ 6.09 4,005,267 4.74 $ 6.10 In September 2022, the Company’s board of directors approved a stock option repricing whereby the exercise prices of previously granted and unexercised options held by certain employees, directors and key advisers with exercise prices between $ 9.00 10.50 4,092,887 9.00 10.50 6.00 2,796,400 2,733 2,642 During the six months ended June 30, 2023, the Company recorded $ 467 1,511 111,765 At the time of the issuances of stock options, the Company believed the Company’s estimates of the fair value for financial reporting purposes of the Company’s common stock were reasonable and consistent with the Company’s understanding of how similarly situated companies in the industry were valued. Stock Warrants The table below summarizes the Company’s warrants activities for the six months ended June 30, 2023: SCHEDULE OF WARRANTS ACTIVITY Exercise Number of Price Range Weighted Average Warrant Shares Per Share Exercise Price Balance, December 31, 2022 725,174 $ 3.00 10.50 $ 8.24 Granted 340,972 5.40 10.50 7.40 Cancelled (36 ) 9.00 9.00 Exercised (128,494 ) 9.00 10.50 10.31 Expired (4,762 ) 10.50 10.50 Balance, June 30, 2023 932,854 $ 3.00 10.50 $ 7.64 Vested and exercisable, June 30, 2023 932,854 $ 3.00 10.50 $ 7.64 The following table summarizes information concerning outstanding and exercisable warrants as of June 30, 2023: SCHEDULE OF OUTSTANDING AND EXERCISABLE WARRANTS Warrants Outstanding Warrants Exercisable Average Average Remaining Weighted Remaining Weighted Range of Exercise Number Contractual Life Average Number Contractual Life Average Exercise Prices Outstanding (in years) Exercise Price Exercisable (in years) Price $ 3.00 133,333 3.67 $ 3.00 133,333 3.67 $ 3.00 3.01 10.49 637,643 3.04 7.85 637,643 3.04 7.85 10.50 161,878 2.08 10.50 161,878 2.08 10.50 $ 3.00 10.50 932,854 2.96 $ 7.64 932,854 2.96 $ 7.64 Upon the closing of the IPO and the overallotment exercises, the Company agreed to issue to the underwriters, warrants entitling them to purchase up to 184,703 6.00 During the six months ended June 30, 2023, the Company granted warrants to certain of its lenders to purchase up to 44,441 5.40 During the six months ended June 30, 2023, the Company granted warrants to certain of its lenders to purchase up to 111,828 10.50 3,110 111,828 1,174 During the six months ended June 30, 2023, a warrant holder completed a cashless exercise of a warrant to purchase 16,666 9.00 11,666 The aggregate intrinsic value for warrant shares outstanding at June 30, 2023 was $ 16,917

LEGAL MATTERS

LEGAL MATTERS	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
LEGAL MATTERS	NOTE 10 - LEGAL MATTERS We are currently involved in one pending litigation. Although the results of the pending legal proceeding in which we currently are involved cannot be predicted with certainty, we do not believe that there is a reasonable possibility that the final outcome of this matter will have a material adverse effect on our business or financial results. Regardless of the final outcome, however, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources, harm to our reputation and brand, and other factors. In the future, we may be involved in additional actual and/or threatened legal proceedings, claims, investigations and government inquiries arising in the ordinary course of our business, including legal proceedings, claims, investigations and government inquiries involving intellectual property, data privacy and data protection, privacy and other torts, illegal or objectionable content, consumer protection, securities, employment, contractual rights, civil rights infringement, false or misleading advertising, or other legal claims relating to our business.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 11 - SUBSEQUENT EVENTS Subsequent to June 30, 2023, the Company received $ 2,500 Subsequent to June 30, 2023, two option holders exercised 71,615 6.00 430 Subsequent to June 30, 2023, several warrant holders completed a cashless exercise of warrants to purchase 168,507 6.00 127,373 Subsequent to June 30, 2023, the Company issued warrants to purchase shares of common stock to two stockholders in connection with their converted convertible notes payable. The total warrant shares issued were 105,943 9.00 10.50

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of the financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the financial statement date, and reported amounts of revenue and expenses during the reporting period. Significant estimates are used in the valuation of accruals for potential liabilities, valuations of stock-based compensation, and realization of deferred tax assets, among others. Actual results could differ from these estimates.
Income (Loss) Per Share	Income (Loss) Per Share Basic loss per share is computed by dividing net loss applicable to common stockholders by the weighted average number of outstanding common shares during the period. Diluted loss per share is computed by dividing the net loss applicable to common stockholders by the weighted average number of common shares outstanding plus the number of additional common shares that would have been outstanding if all dilutive potential common shares had been issued. For the six months ended June 30, 2023 and 2022, the basic and diluted shares outstanding were the same, as potentially dilutive shares were considered anti-dilutive. The potentially dilutive securities consisted of the following: SCHEDULE OF POTENTIALLY DILUTIVE SECURITIES June 30, June 30, Convertible notes payable - 3,339,752 Common stock equivalent of Series A through K convertible preferred stock - 7,567,630 Stock options 4,201,019 3,962,719 Stock warrants 932,854 751,745 Restricted stock units 113,500 - Stock warrants, issuable in connection with convertible notes payable 105,943 183,852 Total 5,353,316 15,805,698
Revenue Recognition	Revenue Recognition The Company records revenue under the guidance of Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers (Topic 606) The Company determines revenue recognition through the following steps: ● Identification of the contract, or contracts, with a customer ● Identification of the performance obligations in the contract ● Determination of the transaction price ● Allocation of the transaction price to the performance obligations in the contract ● Recognition of revenue when, or as, we satisfy a performance obligation. Under certain of the Company’s licensing, supply and collaboration agreements, it is entitled to receive payment upon the achievement of contingent milestone events or the performance of obligations. The Company recognizes revenue based on guidance in ASC 606. In evaluating revenue recognition under a license agreement, the Company uses a two-step process for determining whether a promised good or service (including a license of intellectual property) is distinct and, therefore, is a performance obligation: (1) consideration of the individual good or service (i.e., whether the good or service is capable of being distinct); and (2) consideration of whether the good or service is separately identifiable from other promises in the contract (i.e., whether the promise to transfer the good or service is distinct in the context of the contract). Amounts received prior to satisfying the revenue recognition criteria are recorded as deferred revenue on the Company’s balance sheet. Amounts expected to be recognized as revenue in the next 12 months following the balance sheet date are classified as current liabilities. During the year ended December 31, 2022, the Company, under its Newsoara agreement, invoiced and collected $170 relating to supplying product for Newsoara to use in their clinical trials. As the product did not ship during the year ended December 31, 2022, the Company recorded the cash received as deferred revenue until the product was shipped. During the six months ended June 30, 2023, the Company shipped the product to Newsoara and thus recognized the revenue.
Deferred Offering Costs	Deferred Offering Costs The Company capitalizes certain legal, professional, accounting and other third-party fees that are directly associated with in-process equity issuances as deferred offering costs until such equity issuances are consummated. After consummation of the equity issuance, these costs are recorded as a reduction in the capitalized amount associated with the equity issuance. Should the equity issuance be delayed or abandoned, the deferred offering costs will be expensed immediately as a charge to operating expenses in the Statement of Operations. As of December 31, 2022, the Company incurred $ 1,568 303 1,871
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company determines the fair value of its assets and liabilities based on the exchange price in U.S. dollars that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value maximize the use of observable inputs and minimize the use of unobservable inputs. The Company uses a fair value hierarchy with three levels of inputs, of which the first two are considered observable and the last unobservable, to measure fair value: ● Level 1 — ● Level 2 — ● Level 3 — The carrying amount of the Company’s warrant liabilities of $ 169
Stock-Based Compensation	Stock-Based Compensation The Company measures all stock options and other stock-based awards granted based on the fair value of the award on the date of the grant and recognizes compensation expense for those awards over the requisite service period, which is generally the vesting period of the respective award. The Company has elected to recognize forfeitures as they occur. The reversal of compensation cost previously recognized for an award that is forfeited because of a failure to satisfy a service or performance condition is recognized in the period of the forfeiture. Generally, the Company issues stock options with only service-based vesting conditions and records the expense for these awards using the straight-line method over the requisite service period. The Company classifies stock-based compensation expense in its statements of operations in the same manner in which the award recipient’s payroll costs are classified or in which the award recipients’ service payments are classified. The Company was a private company until the completion of its IPO on January 30, 2023. In 2022 and prior, the Company estimated the fair value of common stock using an appropriate valuation methodology, in accordance with the framework of the American Institute of Certified Public Accountants’ Technical Practice Aid, Valuation of Privately-Held Company Equity Securities Issued as Compensation. Each valuation methodology includes estimates and assumptions that require the Company’s judgment. These estimates and assumptions include a number of objective and subjective factors, including external market conditions, guideline public company information, the prices at which the Company sold its common stock to third parties in arms’ length transactions, the rights and preferences of securities senior to the Company’s common stock at the time, and the likelihood of achieving a liquidity event such as an initial public offering or sale. Significant changes to the assumptions used in the valuations could result in different fair values of stock options at each valuation date, as applicable. The fair value of each stock option grant is estimated using the Black-Scholes option-pricing model. The Company was a private company and lacked company-specific historical and implied volatility information. Therefore, it estimated its expected stock volatility based on the historical volatility of a publicly traded set of peer companies within the biotechnology industry with characteristics similar to the Company. The expected term of the Company’s stock options has been determined utilizing the “simplified” method for awards that qualify as “plain-vanilla” options. The expected term of stock options granted to non-employees is equal to the contractual term of the option award. The risk-free interest rate is determined by reference to the U.S. Treasury yield curve in effect at the time of grant of the award for time periods approximately equal to the expected term of the award. Expected dividend yield is zero, based on the fact that the Company has never paid cash dividends and does not expect to pay any cash dividends in the foreseeable future.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Credit Losses—Measurement of Credit Losses on Financial Instruments (“ASC 326”). The standard significantly changes how entities will measure credit losses for most financial assets, including accounts and notes receivables. The standard will replace today’s “incurred loss” approach with an “expected loss” model, under which companies will recognize allowances based on expected rather than incurred losses. Entities will apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The standard is effective for the Company beginning January 1, 2023. The adoption of ASU 2016-13 did not have a material impact on the Company’s financial position, results of operations, and cash flows. In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt—Modifications and Extinguishments (Subtopic 470-50), Compensation—Stock Compensation (Topic 718), and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options. ASU 2021-04 provides clarification and reduces diversity in an issuer’s accounting for modifications or exchanges of freestanding equity-classified written call options (such as warrants) that remain equity classified after modification or exchange. An issuer measures the effect of a modification or exchange as the difference between the fair value of the modified or exchanged warrant and the fair value of that warrant immediately before modification or exchange. ASU 2021-04 introduces a recognition model that comprises four categories of transactions and the corresponding accounting treatment for each category (equity issuance, debt origination, debt modification, and modifications unrelated to equity issuance and debt origination or modification). ASU 2021-04 is effective for all entities for fiscal years beginning after December 15, 2021. The adoption of ASU 2021-04 did not have a material impact on the Company’s financial statements or disclosures. Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company’s present or future consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
SCHEDULE OF POTENTIALLY DILUTIVE SECURITIES	SCHEDULE OF POTENTIALLY DILUTIVE SECURITIES June 30, June 30, Convertible notes payable - 3,339,752 Common stock equivalent of Series A through K convertible preferred stock - 7,567,630 Stock options 4,201,019 3,962,719 Stock warrants 932,854 751,745 Restricted stock units 113,500 - Stock warrants, issuable in connection with convertible notes payable 105,943 183,852 Total 5,353,316 15,805,698

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	6 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
SCHEDULE OF PROPERTY AND EQUIPMENT	Property and equipment consisted of the following at June 30, 2023 and December 31, 2022: SCHEDULE OF PROPERTY AND EQUIPMENT June 30, December 31, Furniture and office equipment $ 148 $ 148 Laboratory equipment 2,762 2,762 Computer equipment 127 127 Leasehold improvements 557 557 Construction-in-progress 505 - Property and equipment, gross 4,099 3,594 Less: accumulated depreciation and amortization (3,221 ) (2,950 ) Property and equipment, net $ 878 $ 644

NOTES PAYABLE _ SHAREHOLDERS (T

NOTES PAYABLE – SHAREHOLDERS (Tables)	6 Months Ended
	Jun. 30, 2023
Notes Payable Shareholders
SCHEDULE OF WARRANTS	SCHEDULE OF WARRANTS Exercise price $ 6.00 Expected dividends — Expected volatility 96.0 % Risk free interest rate 3.50 % Life of the warrants 3.0

CONVERTIBLE NOTES PAYABLE _ S_2

CONVERTIBLE NOTES PAYABLE – SHAREHOLDERS (Tables)	6 Months Ended
	Jun. 30, 2023
Convertible Notes Payable Shareholders
SCHEDULE OF CONVERTIBLE NOTES PAYABLE TO SHAREHOLDERS	Convertible notes payable to shareholders consisted of the following as of June 30, 2023 and December 31, 2022: SCHEDULE OF CONVERTIBLE NOTES PAYABLE TO SHAREHOLDERS June 30, December 31, Convertible notes payable - shareholders (a) (a) $ 65 $ 7,838 Convertible note payable - shareholder (b) (b) — 1,500 Convertible notes payable – shareholders (c) (c) — 700 Convertible notes payable - shareholders (d) (d) — 5,369 Convertible notes payable - shareholders 65 15,407 Less: current portion (65 ) (15,407 ) Convertible notes payable – shareholders – long - term portion $ — $ — (a) During the years ended December 31, 2011 through 2016, the Company entered into convertible note payable agreements with individuals aggregating to a total amount of $ 7,988 8 25.73 As of December 31, 2022, the principal amount due on the notes aggregated to $ 7,838 2,890 60 36 15 7,778 2,867 Upon the closing of the IPO, all of the principal plus accrued and unpaid interest, except for $ 65 58 1,554,814 6.78 As of June 30, 2023, total principal of $ 65 60 8 (b) In April 2016, the Company entered into a convertible note payable agreement with a shareholder in the amount of $ 2,661 11.51 6.78 10 6.78 As of December 31, 2022, total principal of $ 1,500 560 10 1,500 570 Upon the closing of the IPO, all of the principal plus accrued and unpaid loan fees automatically converted into 303,835 6.78 (c) In April 2018, the Company entered into two convertible note payable agreements with a shareholder under which the Company borrowed an aggregate total of $ 700 5.0 12.00 90 As of December 31, 2022, total principal of $ 700 164 3 700 167 Upon the closing of the IPO, all of the principal plus accrued and unpaid interest automatically converted into 160,563 5.40 90 (d) During the years ended December 31, 2019 through 2021, the Company entered into convertible note payable agreements with several shareholders under which the Company borrowed an aggregate amount of $ 5,369 5.0 12.00 90 As of December 31, 2022, total principal of $ 5,369 758 22 5,369 780 Upon the closing of the IPO, all of the principal plus accrued and unpaid interest automatically converted into 1,134,063 5.40 90 111,828 10.50

CONVERTIBLE NOTES PAYABLE (Tabl

CONVERTIBLE NOTES PAYABLE (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
SCHEDULE OF CONVERTIBLE NOTES PAYABLE	Convertible notes payable consisted of the following as of June 30, 2023 and December 31, 2022: SCHEDULE OF CONVERTIBLE NOTES PAYABLE June 30, December 31, Convertible note payable $ — $ 9,065 Less: debt discount — (541 ) Convertible notes payable, net $ — $ 8,524

SHAREHOLDERS_ EQUITY (Tables)

SHAREHOLDERS’ EQUITY (Tables)	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
SCHEDULE OF PREFERRED STOCK	As of December 31, 2022, authorized shares and shares issued and outstanding of the Company’s preferred stock by series were as follows: SCHEDULE OF PREFERRED STOCK Authorized Issued and Par Series A Preferred Stock 4,500,000 4,500,000 4,500 Series B Preferred Stock 608,000 608,000 608 Series C Preferred Stock 5,000,000 5,000,000 5,000 Series D Preferred Stock 3,000,000 3,000,000 3,000 Series E Preferred Stock 1,591,994 1,591,994 1,592 Series F Preferred Stock 953,000 953,000 953 Series H Preferred Stock 5,000,000 536,000 536 Series I Preferred Stock 2,775,000 2,757,442 2,757 Series J Preferred Stock 2,500,000 1,281,600 1,282 Series K Preferred Stock 4,000,000 1,866,853 1,867 Total 29,927,994 22,094,889 22,095
SCHEDULE OF RESTRICTED COMMON STOCK ACTIVITY	The following table summarizes restricted common stock activity during the six months ended June 30, 2023: SCHEDULE OF RESTRICTED COMMON STOCK ACTIVITY Weighted Number of Average Grant Restricted Date Fair Shares Fair Value Value Non-vested, December 31, 2022 - $ - - Granted 113,500 746 6.57 Vested - (627 ) 6.57 Forfeited - - - Non-vested, June 30, 2023 113,500 $ 119 $ 6.57
SCHEDULE OF STOCK OPTION ACTIVITY	The table below summarizes the Company’s stock option activities for the six months ended June 30, 2023: SCHEDULE OF STOCK OPTION ACTIVITY Exercise Number of Price Range Weighted Average Option Shares Per Share Exercise Price Balance, December 31, 2022 4,201,019 $ 6.00 10.50 $ 6.09 Granted — — — Cancelled — — — Exercised — — — Expired — — — Balance, June 30, 2023 4,201,019 $ 6.00 10.50 $ 6.09 Vested and exercisable, June 30, 2023 4,005,267 $ 6.00 10.50 $ 6.10 Unvested, June 30, 2023 195,752 $ 6.00 $ 6.00
SCHEDULE OF OUTSTANDING AND EXERCISABLE OPTIONS	The following table summarizes information concerning outstanding and exercisable options as of June 30, 2023: SCHEDULE OF OUTSTANDING AND EXERCISABLE OPTIONS Options Outstanding Options Exercisable Average Average Remaining Weighted Remaining Weighted Range of Exercise Number Contractual Life Average Exercise Number Contractual Life Average Exercise Prices Outstanding (in years) Price Exercisable (in years) Price $ 6.00 4,092,887 4.98 $ 6.00 3,897,135 4.81 $ 6.00 9.00 10.50 108,132 2.31 9.67 108,132 2.31 9.67 $ 6.00 10.50 4,201,019 4.91 $ 6.09 4,005,267 4.74 $ 6.10
SCHEDULE OF WARRANTS ACTIVITY	The table below summarizes the Company’s warrants activities for the six months ended June 30, 2023: SCHEDULE OF WARRANTS ACTIVITY Exercise Number of Price Range Weighted Average Warrant Shares Per Share Exercise Price Balance, December 31, 2022 725,174 $ 3.00 10.50 $ 8.24 Granted 340,972 5.40 10.50 7.40 Cancelled (36 ) 9.00 9.00 Exercised (128,494 ) 9.00 10.50 10.31 Expired (4,762 ) 10.50 10.50 Balance, June 30, 2023 932,854 $ 3.00 10.50 $ 7.64 Vested and exercisable, June 30, 2023 932,854 $ 3.00 10.50 $ 7.64
SCHEDULE OF OUTSTANDING AND EXERCISABLE WARRANTS	The following table summarizes information concerning outstanding and exercisable warrants as of June 30, 2023: SCHEDULE OF OUTSTANDING AND EXERCISABLE WARRANTS Warrants Outstanding Warrants Exercisable Average Average Remaining Weighted Remaining Weighted Range of Exercise Number Contractual Life Average Number Contractual Life Average Exercise Prices Outstanding (in years) Exercise Price Exercisable (in years) Price $ 3.00 133,333 3.67 $ 3.00 133,333 3.67 $ 3.00 3.01 10.49 637,643 3.04 7.85 637,643 3.04 7.85 10.50 161,878 2.08 10.50 161,878 2.08 10.50 $ 3.00 10.50 932,854 2.96 $ 7.64 932,854 2.96 $ 7.64

BASIS OF PRESENTATION (Details

BASIS OF PRESENTATION (Details Narrative) - USD ($)	1 Months Ended		3 Months Ended		6 Months Ended		12 Months Ended
	Feb. 28, 2023	Aug. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2021
Subsidiary, Sale of Stock [Line Items]
Net income (loss)			$ 5,821,000	$ 2,820,000	$ 16,185,000	$ 6,621,000	$ 5,207,000
Cash used in operations					10,008,000	(417,000)	3,571,000
Shareholders' deficit			(22,256,000)	39,063,000	(22,256,000)	39,063,000	35,783,000	$ (2,691,000)	$ 36,540,000	$ 33,111,000
Proceeds from initial public offerings					14,503,000
Cash			27,140,000		27,140,000		397,000
Additional commitments received			27,500,000		27,500,000
Shareholders' deficit			22,256,000	$ (39,063,000)	22,256,000	$ (39,063,000)	$ (35,783,000)	$ 2,691,000	$ (36,540,000)	$ (33,111,000)
Cash			$ 27,500		27,500
Reverse stock split		1-for-3 reverse stock split
IPO [Member]
Subsidiary, Sale of Stock [Line Items]
Proceeds from initial public offerings	$ 15,918,000				$ 34,274,000

SCHEDULE OF POTENTIALLY DILUTIV

SCHEDULE OF POTENTIALLY DILUTIVE SECURITIES (Details) - shares	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	5,353,316	15,805,698
Convertible Debt Securities [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total		3,339,752
Common Stock Equivalent Of Series A Through K Convertible Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total		7,567,630
Share-Based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	4,201,019	3,962,719
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	932,854	751,745
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	113,500
Stock Warrants Issuable Upon Conversion Of Notes Payable [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	105,943	183,852

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Subsidiary, Sale of Stock [Line Items]
Deferred offering costs	$ 303
Fair Value, Inputs, Level 3 [Member]
Subsidiary, Sale of Stock [Line Items]
Warrant liabilities		$ 169
IPO [Member]
Subsidiary, Sale of Stock [Line Items]
Deferred offering costs	$ 1,871	$ 1,568

SCHEDULE OF PROPERTY AND EQUIPM

SCHEDULE OF PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 4,099	$ 3,594
Less: accumulated depreciation and amortization	(3,221)	(2,950)
Property and equipment, net	878	644
Furniture and Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	148	148
Laboratory Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	2,762	2,762
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	127	127
Leaseholds and Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	557	557
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 505

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details Narrative) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 271	$ 277

ACCRUED COMPENSATION (Details N

ACCRUED COMPENSATION (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Accrued Compensation
Accured repaid	$ 283
Accrued compensation	$ 2,684,000	$ 2,852,000

LEASE LIABILITIES (Details Narr

LEASE LIABILITIES (Details Narrative) - USD ($) $ in Thousands	1 Months Ended					6 Months Ended
	Feb. 28, 2023	Apr. 30, 2022	Jul. 31, 2021	Dec. 31, 2020	Jul. 31, 2018	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Aggregate average monthly payments	$ 30		$ 10	$ 18	$ 10
Option to extend lease	extended the lease through December 2024, with no changes to any of the other terms of the lease	the option to extend the lease for an additional five years			option to extend for an additional five years
Operating lease right of use asset	$ 649	$ 860				$ 1,710	$ 1,335	$ 1,335
Operating lease liability	$ 649	$ 860	$ 656	$ 12	$ 174	1,814		$ 1,430
Operating lease discount rate	5.50%	4%	4%	4%	4%
Increase in lease liability	$ 637	$ 686				(265)	(184)
Payment for operating lease						265	184
Amortization of right of use assets						274	205
Rent expense						$ 18	$ 18
Accounting Standards Update 2016-02 [Member]
Operating lease right of use asset					$ 518
Operating lease liability				$ 439	$ 519

SCHEDULE OF WARRANTS (Details)

SCHEDULE OF WARRANTS (Details) - Warrant [Member]	6 Months Ended
	Jun. 30, 2023 $ / shares
Exercise price	$ 6
Expected dividends
Expected volatility	96%
Risk free interest rate	3.50%
Life of the warrants	3 years

NOTES PAYABLE _ SHAREHOLDERS (D

NOTES PAYABLE – SHAREHOLDERS (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Outstanding principal amount					$ 1,100,000
Accrued and unpaid interest					5,000
Borrowings	$ 900,000		$ 900,000
Repayment of debt			600,000
Accrued interest	11,000		11,000
Borrowed principal			1,400
Debt accrued interest			$ 63,000
Conversion of convertible shares			73,134
Fair value on conversion of convertible			$ 1,865,000
Notes accrued interest			69,000
Gain (Loss) on Extinguishment of Debt	402,000		$ 402,000
Description of warrants			Company issued the note holders stock warrants to purchase up to an aggregate total of 44,441 shares of its common stock with an exercise price per share equal to 90% of the IPO price, or $5.40 per share, based on the IPO closing price
Fair value of warrants			$ 3,110,000
Debt discount of issuance amount	$ 169,000		169,000
Amortized debt discount			108,000		61,000
Unamortized debt discount					108,000
Note Holders [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Fair value of warrants			$ 169,000
IPO [Member] | Common Stock [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Warrants issued	44,441		44,441
Note Payable Agreements [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Note payable					$ 1,100,000
Notes accrued interest					12%

SCHEDULE OF CONVERTIBLE NOTES P

SCHEDULE OF CONVERTIBLE NOTES PAYABLE TO SHAREHOLDERS (Details) - USD ($) $ in Thousands	Jun. 30, 2023		Jan. 30, 2023	Dec. 31, 2022		Dec. 31, 2021	Apr. 30, 2018	Dec. 31, 2016	Apr. 30, 2016
Short-Term Debt [Line Items]
Convertible notes payable - shareholders	$ 65			$ 15,407
Less: current portion	(65)			(15,407)
Convertible notes payable – shareholders – long - term portion
Convertible Notes Payable Shareholder One [Member]
Short-Term Debt [Line Items]
Convertible notes payable - shareholders	65	[1]	$ 7,778	7,838	[1]			$ 7,988
Convertible Notes Payable Shareholder Two [Member]
Short-Term Debt [Line Items]
Convertible notes payable - shareholders		[2]	1,500	1,500	[2]				$ 2,661
Convertible Notes Payable Shareholder Three [Member]
Short-Term Debt [Line Items]
Convertible notes payable - shareholders		[3]	700	700	[3]		$ 700
Convertible Notes Payable Shareholder Four [Member]
Short-Term Debt [Line Items]
Convertible notes payable - shareholders		[4]	$ 5,369	$ 5,369	[4]	$ 5,369
[1]During the years ended December 31, 2011 through 2016, the Company entered into convertible note payable agreements with individuals aggregating to a total amount of $ 7,988 8 25.73 2,661 11.51 6.78 10 6.78 700 5.0 12.00 90 5,369 5.0 12.00 90

SCHEDULE OF CONVERTIBLE NOTES_2

SCHEDULE OF CONVERTIBLE NOTES PAYABLE TO SHAREHOLDERS (Details) (Parenthetical) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended	6 Months Ended
	Jan. 30, 2023	May 31, 2018	Jun. 30, 2023		Dec. 31, 2022		Dec. 31, 2021	Dec. 31, 2019	Apr. 30, 2018	Dec. 31, 2016	Apr. 30, 2016
Short-Term Debt [Line Items]
Principal amount owed on notes			$ 65		$ 15,407
Accrued and unpaid interest			11
Accrued interest			$ 69
Conversion of common stock			73,134
Warrants to purchase shares			111,828
Convertible Notes Payable Shareholder One [Member]
Short-Term Debt [Line Items]
Principal amount owed on notes	$ 7,778		$ 65	[1]	7,838	[1]				$ 7,988
Accrued interest percentage			8%							8%
Conversion price	$ 6.78
Accrued and unpaid interest	$ 2,867		$ 60		2,890
Repayment of debt			60
Payment on accrued and unpaid interest			36
Accrued interest			15
Notes payable	65
Nonconvertible accrued and unpaid interest	$ 58
Conversion of common stock	1,554,814
Convertible Notes Payable Shareholder One [Member] | Series K Preferred Stock [Member]
Short-Term Debt [Line Items]
Conversion price										$ 25.73
Convertible Notes Payable Shareholder Two [Member]
Short-Term Debt [Line Items]
Principal amount owed on notes	$ 1,500			[2]	1,500	[2]					$ 2,661
Accrued interest percentage											11.51%
Conversion price	$ 6.78	$ 6.78									$ 6.78
Conversion of common stock	303,835
Accrued loan fees		$ 10	10
Accrued and unpaid loan fees owed on notes	$ 570				560
Convertible Notes Payable Shareholder Three [Member]
Short-Term Debt [Line Items]
Principal amount owed on notes	$ 700			[3]	700	[3]			$ 700
Accrued interest percentage									5%
Conversion price	$ 5.40								$ 12
Accrued and unpaid interest	$ 167				164
Accrued interest			3
Conversion of common stock	160,563
Initial public offering closing price									90%
Convertible Notes Payable Shareholder Four [Member]
Short-Term Debt [Line Items]
Principal amount owed on notes	$ 5,369			[4]	5,369	[4]	$ 5,369
Accrued interest percentage							5%
Conversion price	$ 5.40						$ 12
Accrued and unpaid interest	$ 780				$ 758
Accrued interest			$ 22
Conversion of common stock	1,134,063
Initial public offering closing price	90%							90%
Warrants to purchase shares			111,828
Warrants exercise price			$ 10.50
[1]During the years ended December 31, 2011 through 2016, the Company entered into convertible note payable agreements with individuals aggregating to a total amount of $ 7,988 8 25.73 2,661 11.51 6.78 10 6.78 700 5.0 12.00 90 5,369 5.0 12.00 90

SCHEDULE OF CONVERTIBLE NOTES_3

SCHEDULE OF CONVERTIBLE NOTES PAYABLE (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Short-Term Debt [Line Items]
Convertible notes payable, net		$ 8,524
Less: debt discount		(541)
Convertible Notes Payable [Member]
Short-Term Debt [Line Items]
Convertible notes payable, net		$ 9,065

CONVERTIBLE NOTES PAYABLE (Deta

CONVERTIBLE NOTES PAYABLE (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended
	Jan. 30, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021
Short-Term Debt [Line Items]
Principal amount owed on notes		$ 65		$ 65		$ 15,407
Warrants to purchase shares		111,828		111,828
Accrued and unpaid interest		$ 11		$ 11
Accrued interest				69
Unamortized debt discount						108
Amortized debt discount			$ 50	$ 649	$ 99
Debt conversion shares issued				73,134
Convertible Notes Payable [Member]
Short-Term Debt [Line Items]
Principal amount owed on notes	$ 9,065					9,065
Conversion price	$ 10.50
Accrued and unpaid interest	$ 1,223					1,178
Accrued interest				$ 45
Unamortized debt discount						$ 541
Amortized debt discount				$ 541
Debt conversion shares issued	979,619
Convertible Note Payable Agreements [Member]
Short-Term Debt [Line Items]
Principal amount owed on notes							$ 9,065
Accrued interest percentage							6%
Conversion price							$ 10.50
Warrants to purchase shares							146,641
Warrants exercise price							$ 10.50

SCHEDULE OF PREFERRED STOCK (De

SCHEDULE OF PREFERRED STOCK (Details)	Dec. 31, 2022 $ / shares shares
Class of Stock [Line Items]
Preferred Stock, Shares Authorized	29,927,994
Preferred Stock, Par or Stated Value Per Share | $ / shares	$ 22,095
Preferred stock, shares issued	22,094,889
Preferred stock, shares outstanding	22,094,889
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Authorized	4,500,000
Preferred Stock, Par or Stated Value Per Share | $ / shares	$ 4,500
Preferred stock, shares issued	4,500,000
Preferred stock, shares outstanding	4,500,000
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Authorized	608,000
Preferred Stock, Par or Stated Value Per Share | $ / shares	$ 608
Preferred stock, shares issued	608,000
Preferred stock, shares outstanding	608,000
Series C Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Authorized	5,000,000
Preferred Stock, Par or Stated Value Per Share | $ / shares	$ 5,000
Preferred stock, shares issued	5,000,000
Preferred stock, shares outstanding	5,000,000
Series D Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Authorized	3,000,000
Preferred Stock, Par or Stated Value Per Share | $ / shares	$ 3,000
Preferred stock, shares issued	3,000,000
Preferred stock, shares outstanding	3,000,000
Series E Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Authorized	1,591,994
Preferred Stock, Par or Stated Value Per Share | $ / shares	$ 1,592
Preferred stock, shares issued	1,591,994
Preferred stock, shares outstanding	1,591,994
Series F Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Authorized	953,000
Preferred Stock, Par or Stated Value Per Share | $ / shares	$ 953
Preferred stock, shares issued	953,000
Preferred stock, shares outstanding	953,000
Series H Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Authorized	5,000,000
Preferred Stock, Par or Stated Value Per Share | $ / shares	$ 536
Preferred stock, shares issued	536,000
Preferred stock, shares outstanding	536,000
Series I Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Authorized	2,775,000
Preferred Stock, Par or Stated Value Per Share | $ / shares	$ 2,757
Preferred stock, shares issued	2,757,442
Preferred stock, shares outstanding	2,757,442
Series J Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Authorized	2,500,000
Preferred Stock, Par or Stated Value Per Share | $ / shares	$ 1,282
Preferred stock, shares issued	1,281,600
Preferred stock, shares outstanding	1,281,600
Series K Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Authorized	4,000,000
Preferred Stock, Par or Stated Value Per Share | $ / shares	$ 1,867
Preferred stock, shares issued	1,866,853
Preferred stock, shares outstanding	1,866,853

SCHEDULE OF RESTRICTED COMMON S

SCHEDULE OF RESTRICTED COMMON STOCK ACTIVITY (Details) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($) $ / shares shares
Equity [Abstract]
Number of restricted shares, beginning | shares
Fair value, beginning | $
Weighted average grant date fair value, beginning | $ / shares
Number of restricted shares, granted | shares	113,500
Fair value, granted | $	$ 746
Weighted average grant date fair value, granted | $ / shares	$ 6.57
Number of restricted shares, vested | shares
Fair value, vested | $	$ (627)
Weighted average grant date fair value, vested | $ / shares	$ 6.57
Number of restricted shares, forfeited | shares
Fair value, forfeited | $
Weighted average grant date fair value, forfeited | $ / shares
Number of restricted shares, ending | shares	113,500
Fair value, ending | $	$ 119
Weighted average grant date fair value, ending | $ / shares	$ 6.57

SCHEDULE OF STOCK OPTION ACTIVI

SCHEDULE OF STOCK OPTION ACTIVITY (Details)	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Number of options shares, beginning | shares	4,201,019
Weighted average exercise price, beginning	$ 6.09
Number of options shares, granted | shares
Weighted average exercise price, granted
Number of options shares, cancelled | shares
Weighted average exercise price, cancelled
Number of options shares, exercised | shares
Weighted average exercise price, exercised
Number of options shares, expired | shares
Weighted average exercise price, expired
Number of options shares, ending | shares	4,201,019
Weighted average exercise price, ending	$ 6.09
Number of options shares, vested and exercisable | shares	4,005,267
Weighted average exercise price, vested and exercisable ending	$ 6.10
Number of options shares, unvested, ending | shares	195,752
Exercise price range, unvested ending	$ 6
Weighted average exercise price, unvested ending	6
Minimum [Member]
Exercise price range, beginning	6
Exercise price range, ending	6
Exercise price range, vested and exercisable ending	6
Maximum [Member]
Exercise price range, beginning	10.50
Exercise price range, ending	10.50
Exercise price range, vested and exercisable ending	$ 10.50

SCHEDULE OF OUTSTANDING AND EXE

SCHEDULE OF OUTSTANDING AND EXERCISABLE OPTIONS (Details)	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Exercise Price Range One [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Range of exercise prices, upper limit	$ 6
Options outstanding number of outstanding | shares	4,092,887
Options outstanding average remaining contractual life	4 years 11 months 23 days
Options outstaning weighted average exercise price	$ 6
Options exercisable number of outstanding | shares	3,897,135
Options exercisable average remaining contractual life	4 years 9 months 21 days
Options exercisable weighted average exercise price	$ 6
Exercise Price Range Two [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Range of exercise prices, upper limit	$ 10.50
Options outstanding number of outstanding | shares	108,132
Options outstanding average remaining contractual life	2 years 3 months 21 days
Options outstaning weighted average exercise price	$ 9.67
Options exercisable number of outstanding | shares	108,132
Options exercisable average remaining contractual life	2 years 3 months 21 days
Options exercisable weighted average exercise price	$ 9.67
Range of exercise prices, lower limit	9
Exercise Price Range Three [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Range of exercise prices, upper limit	$ 10.50
Options outstanding number of outstanding | shares	4,201,019
Options outstanding average remaining contractual life	4 years 10 months 28 days
Options outstaning weighted average exercise price	$ 6.09
Options exercisable number of outstanding | shares	4,005,267
Options exercisable average remaining contractual life	4 years 8 months 26 days
Options exercisable weighted average exercise price	$ 6.10
Range of exercise prices, lower limit	$ 6

SCHEDULE OF WARRANTS ACTIVITY (

SCHEDULE OF WARRANTS ACTIVITY (Details)	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Number of warrant shares, beginning | shares	725,174
Weighted average exercise price, beginning	$ 8.24
Number of warrant shares, granted | shares	340,972
Weighted average exercise price, granted	$ 7.40
Number of warrant shares, cancelled | shares	(36)
Exercise price range range per share, cancelled	$ 9
Weighted average exercise price, cancelled	$ 9
Number of warrant shares, exercised | shares	(128,494)
Weighted average exercise price, exercised	$ 10.31
Number of warrant shares, expired | shares	(4,762)
Exercise price range range per share, expired	$ 10.50
Weighted average exercise price, expired	$ 10.50
Number of warrant shares, ending | shares	932,854
Weighted average exercise price, ending	$ 7.64
Number of warrant shares, exercisable | shares	932,854
Weighted average exercise price, exercisable	$ 7.64
Minimum [Member]
Exercise price range range per share, beginning	3
Exercise price range range per share, granted	5.40
Exercise price range range per share, exercised	9
Exercise price range range per share, ending	3
Exercise price range range per share, exercisable	3
Maximum [Member]
Exercise price range range per share, beginning	10.50
Exercise price range range per share, granted	10.50
Exercise price range range per share, exercised	10.50
Exercise price range range per share, ending	10.50
Exercise price range range per share, exercisable	$ 10.50

SCHEDULE OF OUTSTANDING AND E_2

SCHEDULE OF OUTSTANDING AND EXERCISABLE WARRANTS (Details) - $ / shares	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Warrants Outstanding number of outstanding	932,854	725,174
Warrants outstaning weighted average exercise price	$ 7.64	$ 8.24
Warrants exercisable number of outstanding	932,854
Warrants exercisable weighted average exercise price	$ 7.64
Exercise Price Range One [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Range of exercise prices, upper limit	$ 3
Warrants Outstanding number of outstanding	133,333
Warrants outstanding average remaining contractual life	3 years 8 months 1 day
Warrants outstaning weighted average exercise price	$ 3
Warrants exercisable number of outstanding	133,333
Warrants exercisable average remaining contractual life	3 years 8 months 1 day
Warrants exercisable weighted average exercise price	$ 3
Exercise Price Range Two [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Range of exercise prices, upper limit	$ 10.49
Warrants Outstanding number of outstanding	637,643
Warrants outstanding average remaining contractual life	3 years 14 days
Warrants outstaning weighted average exercise price	$ 7.85
Warrants exercisable number of outstanding	637,643
Warrants exercisable average remaining contractual life	3 years 14 days
Warrants exercisable weighted average exercise price	$ 7.85
Range of exercise prices, lower limit	3.01
Exercise Price Range Three [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Range of exercise prices, upper limit	$ 10.50
Warrants Outstanding number of outstanding	161,878
Warrants outstanding average remaining contractual life	2 years 29 days
Warrants outstaning weighted average exercise price	$ 10.50
Warrants exercisable number of outstanding	161,878
Warrants exercisable average remaining contractual life	2 years 29 days
Warrants exercisable weighted average exercise price	$ 10.50
Exercise Price Range Four [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Range of exercise prices, upper limit	$ 10.50
Warrants Outstanding number of outstanding	932,854
Warrants outstanding average remaining contractual life	2 years 11 months 15 days
Warrants outstaning weighted average exercise price	$ 7.64
Warrants exercisable number of outstanding	932,854
Warrants exercisable average remaining contractual life	2 years 11 months 15 days
Warrants exercisable weighted average exercise price	$ 7.64
Range of exercise prices, lower limit	$ 3

SHAREHOLDERS_ EQUITY (Details N

SHAREHOLDERS’ EQUITY (Details Narrative) - USD ($)

1 Months Ended

6 Months Ended

Jun. 09, 2023

Jun. 09, 2023

May 12, 2023

May 12, 2023

Feb. 17, 2023

Jan. 30, 2023

Sep. 30, 2018

Aug. 11, 2023

Feb. 28, 2023

Sep. 30, 2022

Sep. 30, 2018

Jun. 30, 2023

Jun. 30, 2022

Mar. 31, 2023

Jan. 31, 2023

Dec. 31, 2022

Aug. 31, 2009

Class of Stock [Line Items]

Preferred stock, shares outstanding

22,094,889

Conversion of common stock

8,355,610

Conversion price adjustment

991,172

Preferred stock, shares authorized

29,927,994

Common stock, shares authorized

200,000,000

200,000,000

200,000,000

Common stock, shares outstanding

25,855,511

9,126,726

Gross proceeds of the IPO

$ 14,503,000

Gross proceeds from common stock

$ 21,642,000

Issuance of restricted shares

113,500

Fair value granted

$ 746,000

Stock compensation

627,000

Unamortized compensation

$ 119,000

Fair market value of shares percentage, description

(i) 100% of the fair market value of a share of stock on the grant date, or (ii) 110% of the fair market value of a share of stock on the grant date in the case of a Participant then owning more than 10% of the total combined voting power of all classes of stock of the Company or any “subsidiary corporation” of the Company or any “parent corporation” of the Company.

Repricing costs

$ 2,733,000

$ 2,642,000

Share compensation

467,000

Unvested compensation

1,511,000

Aggregate intrinsic value outstanding

$ 111,765,000

Exercise of warrants shares

111,828

Fair value of warrants

$ 3,110,000

Proceeds from warrant exercises

1,174,000

Aggregate intrinsic value of warrants

16,917,000

Warrant [Member]

Class of Stock [Line Items]

Fair value of warrants

$ 3,110,000

Exercise Price Range Two [Member]

Class of Stock [Line Items]

Range of exercise prices, lower limit

$ 9

Range of exercise prices, upper limit

$ 10.50

Options outstanding number of outstanding

108,132

Exercise Price Range One [Member]

Class of Stock [Line Items]

Range of exercise prices, upper limit

$ 6

Options outstanding number of outstanding

4,092,887

2009 Equity Incentive Plan [Member]

Class of Stock [Line Items]

Common stock shares authorized

6,166,666

Additional shares authorized

3,774,260

2019 Equity Incentive Plan [Member]

Class of Stock [Line Items]

Shares of common stock issued

2,059,073

Shares available for grant

1,632,314

2022 Plan [Member]

Class of Stock [Line Items]

Shares available for grant

2,686,500

Director [Member]

Class of Stock [Line Items]

Issuance of restricted shares

113,500

Fair value granted

$ 746,000

Executive Officers and Directors [Member] | Exercise Price Range One [Member]

Class of Stock [Line Items]

Options outstanding number of outstanding

2,796,400

Lender [Member]

Class of Stock [Line Items]

Exercise of warrants shares

111,828

Exercise price

$ 10.50

Lender [Member] | Warrant [Member]

Class of Stock [Line Items]

Exercise of warrants shares

44,441

Exercise price

$ 5.40

Warrant Holder [Member] | Warrant [Member]

Class of Stock [Line Items]

Exercise of warrants shares

16,666

Exercise price

$ 9

Common stock issued

11,666

Subsequent Event [Member] | Warrant [Member]

Class of Stock [Line Items]

Exercise of warrants shares

105,943

Subsequent Event [Member] | Warrant Holder [Member] | Warrant [Member]

Class of Stock [Line Items]

Exercise of warrants shares

168,507

Exercise price

$ 6

Common stock issued

127,373

IPO [Member]

Class of Stock [Line Items]

Sale of stock, shares

2,500,000

153,000

Sale of share price

$ 6

$ 6

Gross proceeds of the IPO

$ 15,918,000

$ 34,274,000

Proceeds after deducting underwriting discounts and commissions and offering expenses payable

$ 12,632,000

IPO [Member] | Warrant [Member]

Class of Stock [Line Items]

Exercise of warrants shares

184,703

Exercise price

$ 6

Private Placement [Member]

Class of Stock [Line Items]

Sale of stock, shares

1,665,213

Gross proceeds from common stock

$ 22,342

Shares, Issued

1,117,079

Net proceeds from common stock

$ 21,642

Private Placement [Member] | Subsequent Event [Member]

Class of Stock [Line Items]

Received amount on investment

$ 2,500

Private Placement [Member] | May 12 2023 [Member]

Class of Stock [Line Items]

Sale of stock, shares

842,079

Sale of share price

$ 20

$ 20

Gross proceeds from common stock

$ 33,300

Cancellation of bridge loan and accrued interest

$ 1,463,000

1,463,000

Contractual obligation

$ 17,500

17,500

Received amount on investment

$ 2,500

Committed amount

$ 17,500

Gross proceeds from common stock

16,842

Net proceeds from common stock

$ 16,342

Private Placement [Member] | May 12 2023 [Member] | Subsequent Event [Member]

Class of Stock [Line Items]

Received amount on investment

2,500

Committed amount

$ 17,500

Private Placement [Member] | June 9 2023 [Member]

Class of Stock [Line Items]

Sale of stock, shares

900,000

275,000

Sale of share price

$ 20

$ 20

Gross proceeds from common stock

$ 18,000

Contractual obligation

$ 12,500

$ 12,500

Gross proceeds from common stock

$ 5,500

Net proceeds from common stock

$ 5,300

Minimum [Member]

Class of Stock [Line Items]

Preferred stock, shares authorized

29,927,994

Common stock, shares authorized

75,000,000

Minimum [Member] | Subsequent Event [Member] | Warrant [Member]

Class of Stock [Line Items]

Exercise price

$ 9

Maximum [Member]

Class of Stock [Line Items]

Preferred stock, shares authorized

10,000,000

Common stock, shares authorized

200,000,000

Maximum [Member] | 2019 Equity Incentive Plan [Member]

Class of Stock [Line Items]

Shares of common stock issued

5,833,333

Maximum [Member] | Subsequent Event [Member] | Warrant [Member]

Class of Stock [Line Items]

Exercise price

$ 10.50

Series A Through K Preferred Stock [Member]

Class of Stock [Line Items]

Preferred stock, shares outstanding

22,094,889

0

22,094,889

Preferred stock, shares authorized

10,000,000

10,000,000

Series H Preferred Stock [Member]

Class of Stock [Line Items]

Preferred stock, shares outstanding

536,000

Conversion price adjustment

272,101

Undeclared and unpaid shares earned

$ 3,443,000

Preferred stock, shares authorized

5,000,000

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	1 Months Ended	6 Months Ended
	Aug. 11, 2023	Jun. 30, 2023
Subsequent Event [Line Items]
Proceeds from warrant exercises		$ 1,174,000
Exercise of warrants shares		111,828
Warrant Holder [Member] | Warrant [Member]
Subsequent Event [Line Items]
Exercise of warrants shares		16,666
Exercise price		$ 9
Common stock issued		11,666
Subsequent Event [Member] | Warrant [Member]
Subsequent Event [Line Items]
Exercise of warrants shares	105,943
Subsequent Event [Member] | Warrant [Member] | Minimum [Member]
Subsequent Event [Line Items]
Exercise price	$ 9
Subsequent Event [Member] | Warrant [Member] | Maximum [Member]
Subsequent Event [Line Items]
Exercise price	$ 10.50
Subsequent Event [Member] | Two Option Holders [Member]
Subsequent Event [Line Items]
Share-based payment arrangement, option, exercise price range, shares exercisable	71,615,000
Stock option, exercise price, increase	$ 6
Proceeds from warrant exercises	$ 430,000
Subsequent Event [Member] | Warrant Holder [Member] | Warrant [Member]
Subsequent Event [Line Items]
Exercise of warrants shares	168,507
Exercise price	$ 6
Common stock issued	127,373
Private Placement [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Proceeds from private placement	$ 2,500