Lightwave Logic (LWLG) 10-K 29 Feb 24 2023 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2023	Feb. 29, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Entity File Number	001-40766
Entity Registrant Name	Lightwave Logic, Inc.
Entity Central Index Key	0001325964
Entity Tax Identification Number	82-0497368
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	369 Inverness Parkway
Entity Address, Address Line Two	Suite 350
Entity Address, City or Town	Englewood
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80112
City Area Code	720
Local Phone Number	340-4949
Title of 12(b) Security	Common Stock, $0.001 par value per share
Trading Symbol	LWLG
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 805,311,165
Entity Common Stock, Shares Outstanding		119,184,778
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Auditor Firm ID	536
Auditor Name	Morison Cogen LLP
Auditor Location	Blue Bell, Pennsylvania

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Dec. 31, 2023	Dec. 31, 2022
CURRENT ASSETS
Cash and cash equivalents	$ 31,432,087	$ 24,102,151
Accounts Receivable	30,376
Prepaid expenses and other current assets	1,237,621	611,345
Loan receivable		642,120
TOTAL CURRENT ASSETS	32,700,084	25,355,616
PROPERTY AND EQUIPMENT - NET	4,990,790	2,519,267
OTHER ASSETS
Intangible assets - net	1,254,501	1,030,335
Operating Lease - Right of Use - Building	2,838,210	358,254
TOTAL OTHER ASSETS	4,092,711	1,388,589
TOTAL ASSETS	41,783,585	29,263,472
CURRENT LIABILITIES
Accounts payable	1,447,596	791,671
Accrued bonuses and accrued expenses	599,430	380,280
Accounts payable and accrued expenses - related parties	313,483	100,169
Deferred revenue	39,875
Deferred lease liability	38,297	41,778
Operating lease liability	144,120	190,125
TOTAL CURRENT LIABILITIES	2,582,801	1,504,023
LONG TERM LIABILITIES
Deferred lease liability		38,297
Operating lease liability	2,766,970	168,129
TOTAL LONG TERM LIABILITIES	2,766,970	206,426
TOTAL LIABILITIES	5,349,771	1,710,449
STOCKHOLDERS' EQUITY
Preferred stock, $0.001 par value, 1,000,000 authorized,  no shares issued or outstanding
Common stock $0.001 par value, 250,000,000 authorized,118,137,309 and 112,882,793 issued and outstanding at December 31, 2023 and December 31, 2022	118,137	112,883
Additional paid-in-capital	164,619,363	134,406,825
Deferred compensation	(432,293)	(133,324)
Accumulated deficit	(127,871,393)	(106,833,361)
TOTAL STOCKHOLDERS' EQUITY	36,433,814	27,553,023
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 41,783,585	$ 29,263,472

BALANCE SHEETS (Parenthetical)

BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares issued	118,137,309	112,882,793
Common stock, shares outstanding	118,137,309	112,882,793

STATEMENTS OF COMPREHENSIVE LOS

STATEMENTS OF COMPREHENSIVE LOSS - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
NET SALES	$ 40,502
COST AND EXPENSE
Cost of sales	2,513
Research and development	15,903,689	12,805,374	12,476,040
General and administrative	5,359,565	4,334,290	4,520,403
TOTAL COST AND EXPENSE	21,265,767	17,139,664	16,996,443
LOSS FROM OPERATIONS	(21,225,265)	(17,139,664)	(16,996,443)
OTHER INCOME (EXPENSE)
Paycheck Protection Program loan forgiveness			410,700
Interest income	657,546	91,659	13,826
Commitment fee	(673,578)	(209,709)	(2,059,464)
Gain on disposal of property and equipment	215,509
Other (expense) income	(12,244)	27,234
NET LOSS	$ (21,038,032)	$ (17,230,480)	$ (18,631,381)
LOSS PER SHARE
Basic	$ (0.18)	$ (0.15)	$ (0.18)
Diluted	$ (0.18)	$ (0.15)	$ (0.18)
WEIGHTED AVERAGE NUMBER OF SHARES
Basic	115,467,300	111,814,926	105,223,959
Diluted	115,467,300	111,814,926	105,223,959

STATEMENT OF STOCKHOLDERS' EQUI

STATEMENT OF STOCKHOLDERS' EQUITY - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Deferred Compensation, Share-Based Payments [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Dec. 31, 2020	$ 97,776	$ 76,649,170		$ (70,971,500)	$ 5,775,446
Beginning balance, shares at Dec. 31, 2020	97,775,789
Common stock issued to institutional investor	$ 9,291	30,341,383			30,350,674
Common stock issued to institutional investor, shares	9,290,011
Common stock issued for commitment shares	$ 514	2,058,950			2,059,464
Common stock issued for commitment shares, shares	514,536
Exercise of options	$ 2,046	1,948,829			1,950,875
Exercise of options, shares	2,046,250
Cashless exercise of 445,252 options	$ 252	2,236,606			2,236,858
Cashless exercise of 445,252 options, shares	251,873
Exercise of warrants	$ 677	427,673			428,350
Exercise of warrants, shares	677,000
Options issued for services		1,022,985			1,022,985
Warrants issued for services		11,001			11,001
Net loss				(18,631,381)	(18,631,381)
Ending balance, value at Dec. 31, 2021	$ 110,556	114,696,597		(89,602,881)	25,204,272
Ending balance, shares at Dec. 31, 2021	110,555,459
Common stock issued to institutional investor	$ 1,625	12,773,643			12,775,268
Common stock issued to institutional investor, shares	1,625,000
Common stock issued for commitment shares	$ 22	209,687			209,709
Common stock issued for commitment shares, shares	23,468
Exercise of options	$ 303	257,592			257,895
Exercise of options, shares	302,950
Cashless exercise of 445,252 options	$ 3	35,015			35,018
Cashless exercise of 445,252 options, shares	2,596
Exercise of warrants	$ 350	395,650			396,000
Exercise of warrants, shares	350,000
Options issued for services		5,813,628			5,813,628
Restricted stock awards issued for future services	$ 29	274,995	(275,024)
Restricted stock awards issued for future services, shares	28,500
Forfeiture restricted stock awards issued for future services	$ (5)	(49,982)	49,987
Forfeiture restricted stock awards issued for future services, shares	(5,180)
Deferred compensation			91,713		91,713
Net loss				(17,230,480)	(17,230,480)
Ending balance, value at Dec. 31, 2022	$ 112,883	134,406,825	(133,324)	(106,833,361)	27,553,023
Ending balance, shares at Dec. 31, 2022	112,882,793
Common stock issued to institutional investor	$ 3,650	19,989,709			19,993,359
Common stock issued to institutional investor, shares	3,650,400
Common stock issued for commitment shares	$ 113	673,465			673,578
Common stock issued for commitment shares, shares	112,739
Common stock sales at the market by investment banking company	$ 202	1,515,676			1,515,878
Common stock sales at the market by investment banking company, shares	202,115
Exercise of options	$ 914	776,760			777,674
Exercise of options, shares	914,408
Exercise of warrants	$ 269	235,981			236,250
Exercise of warrants, shares	269,000
Options issued for services		6,459,387			6,459,387
Restricted stock awards issued for future services	$ 106	561,560	(561,666)
Restricted stock awards issued for future services, shares	105,854
Deferred compensation			262,697		262,697
Net loss				(21,038,032)	(21,038,032)
Ending balance, value at Dec. 31, 2023	$ 118,137	$ 164,619,363	$ (432,293)	$ (127,871,393)	$ 36,433,814
Ending balance, shares at Dec. 31, 2023	118,137,309

STATEMENT OF STOCKHOLDERS' EQ_2

STATEMENT OF STOCKHOLDERS' EQUITY (Parenthetical) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Cashless exercise of options	4,375	445,252

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (21,038,032)	$ (17,230,480)	$ (18,631,381)
Adjustments to reconcile net loss to net cash used in operating activities
Warrants issued for services			11,001
Stock options issued for services	6,459,387	5,813,628	1,022,985
Amortization of deferred compensation	262,697	91,713
Cashless option exercise		53,219	3,407,444
Common stock issued for services and fees	673,578	209,709	2,059,464
Depreciation and amortization of patents	1,119,141	1,045,208	878,520
Amortization of right of use asset	184,835	178,192	167,007
Gain on disposal of property and equipment	(215,509)
Paycheck Protection Program loan forgiveness			(410,700)
Decrease (increase) in assets
Accounts receivable	(30,376)
Prepaid expenses and other current assets	(587,540)	(379,037)	334,877
Increase (decrease) in liabilities
Accounts payable	655,925	575,937	46,487
Accrued bonuses and accrued expenses	219,150	(737,800)	1,036,684
Accounts payable and accrued expenses-related parties	213,314	67,980	(17,608)
Deferred revenue	39,875
Deferred lease liability	(41,778)	(41,778)	(41,778)
Operating lease liability	(150,691)	(178,192)	(167,007)
Net cash used in operating activities	(12,236,024)	(10,531,701)	(10,304,005)
CASH FLOWS FROM INVESTING ACTIVITIES
Cost of intangibles	(307,687)	(260,415)	(18,649)
Purchase of property and equipment	(3,292,224)	(1,307,187)	(1,097,530)
Repayment (issuance) of loan	642,120	(642,120)
Sale of property and equipment	590
Net cash used in investing activities	(2,957,201)	(2,209,722)	(1,116,179)
CASH FLOWS FROM FINANCING ACTIVITIES
Exercise of options and warrants	1,013,924	653,895	2,379,225
Cashless option exercise tax payments		(18,201)	(1,170,586)
Issuance of common stock, institutional investor	19,993,359	12,775,268	30,350,674
At the market sale by investment banking company	1,515,878
Repayment of equipment purchase payable			(13,107)
Net cash provided by financing activities	22,523,161	13,410,962	31,546,206
NET INCREASE IN CASH AND CASH EQUIVALENTS	7,329,936	669,539	20,126,022
CASH AND CASH EQUIVALENTS - BEGINNING OF YEAR	24,102,151	23,432,612	3,306,590
CASH AND CASH EQUIVALENTS - END OF YEAR	31,432,087	24,102,151	23,432,612
Supplemental Disclosure of Non-cash investing and financing activities:
Amended Operating Lease - Right of Use - Building and Operating lease liability	$ 2,703,527

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure [Table]
Net Income (Loss) Attributable to Parent	$ (21,038,032)	$ (17,230,480)	$ (18,631,381)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	12 Months Ended
	Dec. 31, 2023 shares	Dec. 31, 2023 shares
Ronald Bucchi [Member]
Trading Arrangements, by Individual [Table]
Material Terms of Trading Arrangement		On December 6, 2023 Ronald Bucchi Board of Directors adopted 27,000 terminated adopted
Name	Ronald Bucchi
Title	Board of Directors
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	true
Adoption Date	December 6, 2023
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	true
Aggregate Available	27,000	27,000
Fred Leonberger [Member]
Trading Arrangements, by Individual [Table]
Material Terms of Trading Arrangement		On December 13, 2023 Fred Leonberger Board of Directors adopted 75,000 terminated adopted
Name	Fred Leonberger
Title	Board of Directors
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	true
Adoption Date	December 13, 2023
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	true
Aggregate Available	75,000	75,000

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES History and Nature of Business Lightwave Logic, Inc. (the “Company”) is a technology company focused on the development of next generation photonic devices and electro-optic polymer materials systems for applications in high speed fiber-optic data communications, telecommunications and optical computing markets. The Company's first revenue stream is from a technology material supply and licensing agreement that incorporates the Company's patented electro-optic polymer materials for use in manufacturing photonic devices. Currently, the Company is in various stages of photonic device and materials development and evaluation with potential customers and strategic partners. The Company expects to obtain additional revenue from material supply and licensing agreements, technology transfer agreements and the production and direct sale of its own photonic devices. The Company’s current development activities are subject to significant risks and uncertainties, including failing to secure additional funding to operationalize the Company’s technology now under development. Lightwave Logic, Inc. was organized under the laws of the State of Nevada in 1997, and it commenced with its current business plan in 2004. Basis of Presentation The accompanying financial statements are presented in accordance with accounting principles generally accepted in the United States of America. Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying disclosures. Although these estimates are based on management’s best knowledge of current events and actions the Company may undertake in the future, actual results could differ from the estimates. Cash Equivalents For the purposes of the statement of cash flows, the Company considers all highly liquid instruments with maturities of three months or less at the time of purchase to be cash equivalents. Concentration of Credit Risk Certain financial instruments potentially subject the Company to concentrations of credit risk. These financial instruments consist primarily of cash. At December 31, 2023, the Company did have deposits with a financial institution that exceed the Federal Depository Insurance coverage. Property and Equipment Equipment is stated at cost. Depreciation is principally provided by use of straight-line methods for financial and tax reporting purposes over the estimated useful lives of the assets, generally 5 Intangible Assets Definite-lived intangible assets are stated at cost. Patents are amortized over their estimated useful lives, commencing from the date of grant for the remaining legal lives of the patents. The patents generally have a term of up to 20 Fair Value of Financial Instruments The carrying value of the Company’s short-term financial instruments such as cash, accounts payable and accrued expenses approximate their fair values because of their short maturities. Revenue Recognition and Deferred Revenue The rights and benefits to the Company’s patented electro-optic polymer materials are conveyed to the customer through technology license and material supply agreements where the Company provides the licensee a supply of its proprietary polymers for use in the licensee’s manufacturing of photonic devices (the “Licensed Product”) as well as non-exclusive, royalty-bearing license to intellectual property rights in the Company’s patented polymer technology. The Company receives license and royalty payments under such commercial agreements, some of which are nonrefundable upfront payments for license fees. These advances are initially recorded as deferred revenue on the Company’s balance sheets. The Company believes that the licenses provided and materials transferred under such agreements are not distinct from each other for financial reporting purposes and as such, they are accounted for as a single performance obligation. Advance payments for license fees and minimum annual royalties are recognized on a pro-rata basis over the related contract term. Royalties from licensee’s sale of the Licensed Product that exceed the minimum annual royalty are recognized when cumulative royalties exceed the minimum royalty. Milestone license fees are recognized when the licensee reaches the milestone of selling a contractually specified number of units of the Licensed Product. Revenue associated with the sale of the Company’s patented electro-optic polymer materials for incorporation into the customers’ commercial photonic devices or for their device development and evaluation activities will be recognized at the time title passes, which is typically at the time of shipment or at the time of delivery, depending upon the contractual agreement between the parties. Cost of Sales Cost of sales consists of labor costs, material costs and manufacturing overhead costs associated with the production of materials transferred to the customer under the technology license and material supply agreement at the Company’s facility. Income Taxes The Company follows Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 740, “Income Taxes,” which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed annually for temporary differences between the financial statement and tax bases of assets and liabilities that will result in taxable or deductible amounts in the future based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Income tax expense is the tax payable or refundable for the period plus or minus the change during the period in deferred tax assets and liabilities. Stock-based Payments The Company accounts for stock-based compensation under which requires the measurement and recognition of compensation expense for all stock-based awards made to employees and directors based on estimated fair values on the grant date. The fair value of restricted stock awards is estimated by the market price of the Company’s common stock at the date of grant. Restricted stock awards are being amortized to expense over the vesting period. The Company estimates the fair value of option and warrant awards on the date of grant using the Black-Scholes model. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods using the straight-line method. In June 2018, the FASB issued ASU No. 2018-07, Compensation – Stock Compensation (Topic 718), Improvements to Nonemployee Share-Based Payment Accounting (the “2018 Update). The amendments in the 2018 Update expand the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from non-employees. Prior to the 2018 Update, Topic 718 applied only to share- based transactions to employees. Consistent with the accounting requirement for employee share-based payment awards, nonemployee share-based payment awards within the scope of Topic 718 are measured at grant-date fair value of the equity instruments that an entity is obligated to issue when the good has been delivered or the service has been rendered and any other conditions necessary to earn the right to benefit from the instruments have been satisfied. The Company has elected to account for forfeiture of stock-based awards as they occur. Loss Per Share The Company follows FASB ASC 260, “Earnings per Share”, resulting in the presentation of basic and diluted earnings per share. Because the Company reported a net loss in 2023, 2022 and 2021, common stock equivalents, including stock options and warrants were anti-dilutive; therefore, the amounts reported for basic and dilutive loss per share were the same. Recoverability of Long-Lived Assets The Company follows FASB ASC 360, “Property, Plant, and Equipment”. Long-lived assets to be held and used are reviewed for impairment whenever events or changes in circumstances indicate that the related carrying amount may not be recoverable. When required, impairment losses on assets to be held and used are recognized based on the excess of the asset’s carrying amount. Comprehensive Income (Loss) The Company follows FASB ASC 220.10, “Reporting Comprehensive Income (Loss).” Comprehensive income (loss) is a more inclusive financial reporting methodology that includes disclosure of certain financial information that historically has not been recognized in the calculation of net income (loss). Since the Company has no items of other comprehensive income (loss), comprehensive income (loss) is equal to net income (loss). Recently Adopted Accounting Pronouncements As of December 31, 2023 and for the period then ended, there are no recently adopted accounting standards that have a material effect on the Company’s financial statements. Recently Issued Accounting Pronouncements Not Yet Adopted As of December 31, 2023, there are no recently issued accounting standards not yet adopted which would have a material effect on the Company’s financial statements. Reclassifications Certain reclassifications have been made to the 2022 financial statement in order to conform to the 2023 financial statement presentation.

MANAGEMENT_S PLANS

MANAGEMENT’S PLANS	12 Months Ended
	Dec. 31, 2023
Managements Plans
MANAGEMENT’S PLANS	NOTE 2 – MANAGEMENT’S PLANS Our future expenditures and capital requirements will depend on numerous factors, including: the progress of our research and development efforts; the rate at which we can, directly or through arrangements with original equipment manufacturers, introduce and sell products incorporating our polymer materials technology; the costs of filing, prosecuting, defending and enforcing any patent claims and other intellectual property rights; market acceptance of our products and competing technological developments; and our ability to establish cooperative development, joint venture and licensing arrangements. We expect that we will incur approximately $ 1,830,000 30,000,000 3,335,300 10,518,648 35,000,000 52,669 33,382,897 incorporates the Company's patented electro-optic polymer materials for use in manufacturing photonic devices ). For the year ended December 31, 2023, we recognized $ 40,502

REVENUE

REVENUE	12 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
REVENUE	NOTE 3 – REVENUE The Company recognizes revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers (Topic 606). The standard establishes the principles that an entity shall apply to report useful information to users of financial statements about the nature, amount, timing, and uncertainty of revenue and cash flows from a contract with a customer. The Company's first commercial agreement occurred in May 2023, in the form of a four-year material supply and license agreement (the “License Agreement”) that incorporates the Company's patented electro-optic polymer materials for use in manufacturing of photonic devices (the “Licensed Product”). The licensee shall pay the Company a running royalty with a minimum royalty paid on an annual basis over the term of the License Agreement. Additional future revenue will be generated from royalties from the licensee’s sale of Licensed Product that exceed the minimum royalty payments and milestone license fees. The License Agreement is a non-exclusive material supply and license agreement. Timing of Revenue Recognition and Contract Balances Revenues related to the initial license fee and a minimum annual royalty are recognized over time commencing with the License Agreement in May 2023. An up-front license fee in the amount of $ 50,000 39,875 For the year ended December 31, 2023, the Company recognized $ 40,502 Contract balances are as follows: Schedule of contract balances December 31, 2023 Accounts receivable, net $ 30,376 Short-term contract assets $ — Long-term contract assets $ — Short-term liability deferred revenue $ 39,875 Long-term liability deferred revenue $ — A roll forward of contract balances is not disclosed since there were no Assets Recognized for the Costs to Obtain a Contract There are no assets recognized for the costs to obtain the License Agreement.

PREPAID EXPENSES AND OTHER CURR

PREPAID EXPENSES AND OTHER CURRENT ASSETS	12 Months Ended
	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
PREPAID EXPENSES AND OTHER CURRENT ASSETS	NOTE 4 – PREPAID EXPENSES AND OTHER CURRENT ASSETS Prepaid expenses and other current assets consist of the following: Schedule of prepaid expenses and other current assets December 31, 2023 December 31, 2022 Materials fabrication $ 475,936 $ — License 241,936 94,195 Insurance 237,791 218,767 Prototype devices 161,267 40,473 Other 53,373 45,675 Rent 36,525 36,525 Deposit for equipment 20,000 59,850 Investor relations 6,313 18,250 Lease incentive receivable 4,480 — Legal — 83,941 Loan interest receivable — 13,669 prepaid expenses and other current $ 1,237,621 $ 611,345

LOAN RECEIVABLE

LOAN RECEIVABLE	12 Months Ended
	Dec. 31, 2023
Credit Loss [Abstract]
LOAN RECEIVABLE	NOTE 5 – LOAN RECEIVABLE On September 7, 2022, the Company entered into a convertible loan agreement (the “Loan”) with an entity and issued a loan on September 12, 2022 in the amount of EUR 600,000 7 March 31, 2023 13,375 642,120 13,669 11,125

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	NOTE 6 – PROPERTY AND EQUIPMENT Property and equipment consist of the following: schedule of property and equipment December 31, 2023 December 31, 2022 Office equipment $ 146,196 $ 119,404 Lab equipment 8,937,847 6,234,777 Furniture 74,119 33,128 Leasehold improvements 396,111 184,843 Software 111,077 — 9,665,350 6,572,152 Less: Accumulated depreciation 4,674,560 4,052,885 $ 4,990,790 $ 2,519,267 Depreciation expense for the years ending December 31, 2023, 2022 and 2021 was $ 1,035,620 966,995 792,004 590 216,090 215,509 70,963 no

INTANGIBLE ASSETS

INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	NOTE 7 – INTANGIBLE ASSETS This represents legal fees and patent fees associated with the prosecution of patent applications. The Company has recorded amortization expense on patents granted, which are amortized over the remaining legal life. Maintenance patent fees are paid to a government patent authority to maintain a granted patent in force. Some countries require the payment of maintenance fees for pending patent applications. Maintenance fees paid after a patent is granted are expensed, as these are considered ongoing costs to “maintain a patent”. Maintenance fees paid prior to a patent grant date are capitalized to patent costs, as these are considered “patent application costs”. No amortization expense has been recorded on the remaining patent applications since patents on these applications have yet to be granted. Intangible assets consist of the following: Schedule of intangible assets December 31, 2023 December 31, 2022 Patents $ 1,913,751 $ 1,606,064 Less: Accumulated amortization 659,250 575,729 Intangible assets - net $ 1,254,501 $ 1,030,335 Amortization expense for the years ending December 31, 2023, 2022 and 2021 was $ 83,521 78,213 86,516 no

COMMITMENTS

COMMITMENTS	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS	NOTE 8 – COMMITMENTS On October 30, 2017, the Company entered into a lease agreement (the “Lease”) to lease approximately 13,420 square feet of office, chemistry, clean room and research and development space located in Colorado for the Company’s principal executive offices and research and development facility. The term of the lease is sixty- one ( 61 November 1, 2017 November 30, 2022 24 168,824 3 347,045 186,293 36,525 260,000 Due to the adoption of the new lease standard, the Company has capitalized the present value of the minimum lease payments commencing November 1, 2019, including the additional option period using an estimated incremental borrowing rate of 6.5 As of January 1, 2019 the operating lease right-of-use asset and operating lease liability amounted to $ 885,094 On November 22, 2022, the Company entered into an amendment to the Lease (“the Amended Lease”) to lease an additional approximately 9,684 square feet of adjacent office and warehouse space. The term of the Amended Lease is one hundred twenty ( 128 June 1, 2023 30,517 377,288 3 43,216 2,945,322 The Company has elected not to recognize right-of-use assets and lease liabilities arising from short-term leases. There are no other material operating leases. The Company is obligated under the Amended Lease for office, chemistry, clean room and research and development space. The aggregate minimum future lease payments under the Amended Lease, including the extended term are as follows: Schedule of future lease payments of operating leases YEARS ENDING DECEMBER 31, AMOUNT 2024 $ 376,364 2025 387,666 2026 399,199 2027 411,174 2028 423,612 Thereafter 2,357,570 4,355,585 Less discounted interest (1,444,495 ) TOTAL $ 2,911,090 Rent expense totaling $ 236,170 78,724 138,394 46,132 134,243 44,747

PAYCHECK PROTECTION PROGRAM ADV

PAYCHECK PROTECTION PROGRAM ADVANCE	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
PAYCHECK PROTECTION PROGRAM ADVANCE	NOTE 9 – PAYCHECK PROTECTION PROGRAM ADVANCE On April 24, 2020, the Company received $ 410,700 410,700

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 10 – INCOME TAXES As discussed in Note 1, the Company utilizes the asset and liability method of accounting for income taxes in accordance with FASB ASC 740. The income tax (benefit) provision consists of the following: Schedule of income tax benefit provision 2023 2022 2021 Current $ — $ — $ — Deferred (6,526,000 ) (5,071,000 ) (3,692,000 ) Change in valuation allowance 6,526,000 5,071,000 3,692,000 Total $ — $ — $ — The reconciliation of the statutory federal rate to the Company’s effective income tax rate is as follows: Schedule of reconciliation of statutory federal rate to effective income tax ate 2023 2022 2021 Amount % Amount % Amount % Income tax benefit at U.S. federal income tax rate $ (4,418,000 ) ( 21 ) $ (3,618,000 ) ( 21 ) $ (3,913,000 ) ( 21 ) State tax benefit, net of federal tax effect (957,000 ) ( 5 ) (784,000 ) ( 4 ) (838,000 ) ( 4 ) Federal deduction net of tax 44,000 — 35,000 — 38,000 — Tax exempt income — — — — (111,000 ) ( 1 ) Non-deductible share-based compensation 1,653,000 8 1,430,000 8 899,000 5 Exercised share based compensation (2,850,000 ) ( 13 ) (2,981,000 ) ( 17 ) — — Other 2,000 — 847,000 5 233,000 1 Change in valuation allowance 6,526,000 31 5,071,000 29 3,692,000 20 $ — — $ — — $ — — The components of deferred tax assets as of December 31, 2023, 2022 and 2021 are as follows: Schedule of components of deferred tax assets 2023 2022 2021 Deferred tax asset for NOL carryforwards $ 29,018,000 $ 23,930,000 $ 19,966,000 Share-based compensation 3,889,000 2,451,000 1,242,000 Other (102,000 ) (102,000 ) — Valuation allowance (32,805,000 ) (26,279,000 ) (21,208,000 ) Total $ — $ — $ — The valuation allowance for deferred tax assets as of December 31, 2023, 2022 and 2021 was $ 32,805,000 26,279,000 21,208,000 6,526,000 5,071,000 3,692,000 As of December 31, 2023, the Company had net operating loss carry forwards of approximately $ 117,985,000 38,275,000 December 31, 2038 79,710,000 The timing and manner in which the Company can utilize operating loss carryforwards in any year may be limited by provisions of the Internal Revenue Code regarding changes in ownership of corporations. Such limitation may have an impact on the ultimate realization of its carryforwards and future tax deductions. The Company follows FASB ASC 740-10, which provides guidance for the recognition and measurement of certain tax positions in an enterprise’s financial statements. Recognition involves a determination of whether it is more likely than not that a tax position will be sustained upon examination with the presumption that the tax position will be examined by the appropriate taxing authority having full knowledge of all relevant information. The adoption of FASB ASC 740-10 did not require an adjustment to the Company’s financial statements. The Company’s policy is to record interest and penalties associated with unrecognized tax benefits as additional income taxes in the statement of operations. As of January 1, 2023, the Company had no unrecognized tax benefits and no charge during 2023, and accordingly, the Company did not recognize any interest or penalties during 2023 related to unrecognized tax benefits. There is no accrual for uncertain tax positions as of December 31, 2023. The Company files U.S. income tax returns and a state income tax return. With few exceptions, the U.S. and state income tax returns filed for the tax years ending on December 31, 2020 and thereafter are subject to examination by the relevant taxing authorities.

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
STOCKHOLDERS’ EQUITY	NOTE 11 – STOCKHOLDERS’ EQUITY Preferred Stock Pursuant to the Company’s Articles of Incorporation, the Company’s board of directors is empowered, without stockholder approval, to issue series of preferred stock with any designations, rights and preferences as they may from time to time determine. The rights and preferences of this preferred stock may be superior to the rights and preferences of the Company’s common stock; consequently, preferred stock, if issued could have dividend, liquidation, conversion, voting or other rights that could adversely affect the voting power or other rights of the common stock. Additionally, preferred stock, if issued, could be utilized, under special circumstances, as a method of discouraging, delaying or preventing a change in control of the Company’s business or a takeover from a third party. Common Stock Options and Warrants In January 2019, the Company signed a purchase agreement with the institutional investor to sell up to $ 25,000,000 9,500,000 350,000 258,125 812,500 6,000,000 8,000,000 22,337,500 23,773,924 772,666 1,575,509 39,834 On July 2, 2021, the Company filed a $100,000,000 universal shelf registration statement with the U.S. Securities and Exchange Commission which became effective on July 9, 2021. On October 4, 2021, the Company entered into a purchase agreement with the institutional investor to sell up to $ 33,000,000 30,312 279,174 60,623 3,632,456 33,000,000 60,623 694,531 779,945 3,847,307 7,069 38,161 On February 28, 2023, the Company entered into a purchase agreement with an institutional investor to sell up to $ 30,000,000 50,891 279,391 101,781 2,870,455 16,146,052 54,779 356,026 800,000 3,335,300 11,319 50,841 35,683 On December 9, 2022, the Company entered into a sales agreement with an investment banking company. In accordance with the terms of this sales agreement, the Company may offer and sell shares of its common stock having an aggregate offering price of up to $ 35,000,000 3 202,115 1,515,878 46,884 12,150 52,669 1,629 Restricted Stock Awards On March 16, 2023, the Compensation Committee of the Board of Directors approved grants totaling 99,616 5.22 8,338 2,766 On August 1, 2023, the Compensation Committee of the Board of Directors approved a grant totaling 6,238 6.68 218 215 Upon the occurrence of a Change in Control, 100% of the unvested Restricted Stock shall vest as of the date of the Change in Control. Upon vesting, the restrictions on the shares lapse.

STOCK BASED COMPENSATION

STOCK BASED COMPENSATION	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
STOCK BASED COMPENSATION	NOTE 12 – STOCK BASED COMPENSATION During 2007, the Board of Directors of the Company adopted the 2007 Employee Stock Plan (“2007 Plan”) that was approved by the shareholders. Under the 2007 Plan, the Company is authorized to grant options to purchase up to 10,000,000 Effective June 24, 2016, the 2007 Plan was terminated. As of December 31, 2023, options to purchase 2,063,000 During 2016, the Board of Directors of the Company adopted the 2016 Plan that was approved by the shareholders at the 2016 annual meeting of shareholders on May 20, 2016. Under the 2016 Plan, the Company is authorized to grant awards of incentive and non-qualified stock options and restricted stock to purchase up to 3,000,000 3,000,000 8,000,000 8,000,000 13,000,000 6,227,807 129,174 5,291,784 Both plans are administered by the Company’s Board of Directors or its compensation committee which determines the persons to whom awards will be granted, the number of awards to be granted, and the specific terms of each grant. Subject to the provisions regarding Ten Percent Shareholders, (as defined in the 2016 Plan), the exercise price per share of each option cannot be less than 100% of the fair market value of a share of common stock on the date of grant. Options granted under the 2016 Plan are generally exercisable for a period of 10 The Company uses the Black-Scholes no 73.7 77.2 3.37 4.82 10 The Black-Scholes option pricing model assumptions for 2022 are as follows: no 74.7 76.4 1.87 3.84 10 The Black-Scholes option pricing model assumptions for 2021 are as follows: no 70.4 77.1 1.15 1.73 10 As of December 31, 2023, there was $ 3,295,335 Share-based compensation was recognized as follows: Schedule of share-based compensation 2023 2022 2021 2007 Employee Stock Option Plan $ — $ — $ — 2016 Equity Incentive Plan 6,459,387 5,813,628 1,022,985 2016 Equity Incentive Plan restricted stock awards 262,697 91,713 — Warrants — — 11,001 Total share-based compensation $ 6,722,084 $ 5,905,341 $ 1,033,986 The following tables summarize all stock option and warrant activity of the Company during the years ended December 31, 2023, 2022 and 2021: Schedule of stock option and warrant activity Non-Qualified Stock Options and Warrants Outstanding and Exercisable Number of Exercise Weighted Average Exercise Shares Price Price Outstanding, December 31, 2020 10,022,500 $ 0.51 1.69 $ 0.85 Granted 1,061,000 $ 1.27 16.81 $ 2.32 Forfeited (28,750 ) $ 0.64 0.86 $ 0.82 Exercised (3,168,502 ) $ 0.60 1.50 $ 0.88 Outstanding, December 31, 2021 7,886,248 $ 0.51 16.81 $ 1.02 Granted 884,500 $ 5.81 10.86 $ 9.18 Expired (25,000 ) $ 1.69 $ 1.69 Forfeited (15,250 ) $ 1.46 7.53 $ 5.71 Exercised (657,325 ) $ 0.64 5.81 $ 1.00 Outstanding, December 31, 2022 8,073,173 $ 0.51 16.81 $ 1.91 Granted 1,959,667 $ 4.28 7.67 $ 5.24 Forfeited (39,625 ) $ 6.25 8.93 $ 7.12 Exercised (1,183,408 ) $ 0.67 5.22 $ 0.86 Outstanding, December 31, 2023 8,809,807 $ 0.51 16.81 $ 2.76 Exercisable, December 31, 2023 7,967,605 $ 0.51 16.81 $ 2.49 The aggregate intrinsic value of options and warrants outstanding and exercisable as of December 31, 2023 was $ 24,308,723 24,214,724 4.98 914,408 4,698,996 777,674 269,000 1,162,230 236,250 302,950 2,920,861 257,895 4,375 53,219 350,000 2,555,750 396,000 2,046,250 22,351,788 1,950,875 677,000 6,796,400 428,350 445,252 3,406,530 Schedule of non-qualified stock options and warrants outstanding Non-Qualified Stock Options and Warrants Outstanding Range of Exercise Prices Number Outstanding Currently Exercisable at December 31, 2023 Weighted Average Remaining Contractual Life Weighted Average Exercise Price of Options and Warrants Currently Exercisable $ 0.51 16.81 7,967,605 5.4 $2.49 The fair value of restricted stock awards is estimated by the market price of the Company’s common stock at the date of grant. Restricted stock activity during the year ending December 31, 2023, 2022 and 2021 are as follows: Schedule of fair value of restricted stock awards Restricted Stock Awards Year ended December 31, 2023 December 31, 2022 December 31, 2021 Weighted Average Weighted Average Weighted Average Number of Shares Grant Date Fair Value per Share Number of Shares Grant Date Fair Value per Share Number of Shares Grant Date Fair Value per Share Non-vested, beginning of period 13,816 $ 9.65 — $ — — $ — Granted 105,854 5.31 28,500 9.65 — — Vested (41,218 ) 6.00 (9,504 ) 9.65 — — Cancelled and forfeited — — (5,180 ) 9.65 — — Non-vested, end of period 78,452 $ 5.71 13,816 $ 9.65 — $ — Restricted stock awards are being amortized to expense over the vesting period. As of December 31, 2023 and 2022, the unamortized value of the restricted stock awards was $ 432,292 133,324

RELATED PARTY

RELATED PARTY	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
RELATED PARTY	NOTE 13 – RELATED PARTY At December 31, 2023 the Company had a legal accrual to a related party of $ 115,160 102,351 53,776 33,746 8,450 60,577 18,000 13,500 4,859 3,233

RETIREMENT PLAN

RETIREMENT PLAN	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
RETIREMENT PLAN	NOTE 14 – RETIREMENT PLAN The Company established a 401(k) retirement plan covering all eligible employees beginning November 15, 2013. A contribution of $ 72,570 57,126 53,035

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
History and Nature of Business	History and Nature of Business Lightwave Logic, Inc. (the “Company”) is a technology company focused on the development of next generation photonic devices and electro-optic polymer materials systems for applications in high speed fiber-optic data communications, telecommunications and optical computing markets. The Company's first revenue stream is from a technology material supply and licensing agreement that incorporates the Company's patented electro-optic polymer materials for use in manufacturing photonic devices. Currently, the Company is in various stages of photonic device and materials development and evaluation with potential customers and strategic partners. The Company expects to obtain additional revenue from material supply and licensing agreements, technology transfer agreements and the production and direct sale of its own photonic devices. The Company’s current development activities are subject to significant risks and uncertainties, including failing to secure additional funding to operationalize the Company’s technology now under development. Lightwave Logic, Inc. was organized under the laws of the State of Nevada in 1997, and it commenced with its current business plan in 2004.
Basis of Presentation	Basis of Presentation The accompanying financial statements are presented in accordance with accounting principles generally accepted in the United States of America.
Estimates	Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying disclosures. Although these estimates are based on management’s best knowledge of current events and actions the Company may undertake in the future, actual results could differ from the estimates.
Cash Equivalents	Cash Equivalents For the purposes of the statement of cash flows, the Company considers all highly liquid instruments with maturities of three months or less at the time of purchase to be cash equivalents.
Concentration of Credit Risk	Concentration of Credit Risk Certain financial instruments potentially subject the Company to concentrations of credit risk. These financial instruments consist primarily of cash. At December 31, 2023, the Company did have deposits with a financial institution that exceed the Federal Depository Insurance coverage.
Property and Equipment	Property and Equipment Equipment is stated at cost. Depreciation is principally provided by use of straight-line methods for financial and tax reporting purposes over the estimated useful lives of the assets, generally 5
Intangible Assets	Intangible Assets Definite-lived intangible assets are stated at cost. Patents are amortized over their estimated useful lives, commencing from the date of grant for the remaining legal lives of the patents. The patents generally have a term of up to 20
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying value of the Company’s short-term financial instruments such as cash, accounts payable and accrued expenses approximate their fair values because of their short maturities.
Revenue Recognition and Deferred Revenue	Revenue Recognition and Deferred Revenue The rights and benefits to the Company’s patented electro-optic polymer materials are conveyed to the customer through technology license and material supply agreements where the Company provides the licensee a supply of its proprietary polymers for use in the licensee’s manufacturing of photonic devices (the “Licensed Product”) as well as non-exclusive, royalty-bearing license to intellectual property rights in the Company’s patented polymer technology. The Company receives license and royalty payments under such commercial agreements, some of which are nonrefundable upfront payments for license fees. These advances are initially recorded as deferred revenue on the Company’s balance sheets. The Company believes that the licenses provided and materials transferred under such agreements are not distinct from each other for financial reporting purposes and as such, they are accounted for as a single performance obligation. Advance payments for license fees and minimum annual royalties are recognized on a pro-rata basis over the related contract term. Royalties from licensee’s sale of the Licensed Product that exceed the minimum annual royalty are recognized when cumulative royalties exceed the minimum royalty. Milestone license fees are recognized when the licensee reaches the milestone of selling a contractually specified number of units of the Licensed Product. Revenue associated with the sale of the Company’s patented electro-optic polymer materials for incorporation into the customers’ commercial photonic devices or for their device development and evaluation activities will be recognized at the time title passes, which is typically at the time of shipment or at the time of delivery, depending upon the contractual agreement between the parties.
Cost of Sales	Cost of Sales Cost of sales consists of labor costs, material costs and manufacturing overhead costs associated with the production of materials transferred to the customer under the technology license and material supply agreement at the Company’s facility.
Income Taxes	Income Taxes The Company follows Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 740, “Income Taxes,” which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed annually for temporary differences between the financial statement and tax bases of assets and liabilities that will result in taxable or deductible amounts in the future based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Income tax expense is the tax payable or refundable for the period plus or minus the change during the period in deferred tax assets and liabilities.
Stock-based Payments	Stock-based Payments The Company accounts for stock-based compensation under which requires the measurement and recognition of compensation expense for all stock-based awards made to employees and directors based on estimated fair values on the grant date. The fair value of restricted stock awards is estimated by the market price of the Company’s common stock at the date of grant. Restricted stock awards are being amortized to expense over the vesting period. The Company estimates the fair value of option and warrant awards on the date of grant using the Black-Scholes model. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods using the straight-line method. In June 2018, the FASB issued ASU No. 2018-07, Compensation – Stock Compensation (Topic 718), Improvements to Nonemployee Share-Based Payment Accounting (the “2018 Update). The amendments in the 2018 Update expand the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from non-employees. Prior to the 2018 Update, Topic 718 applied only to share- based transactions to employees. Consistent with the accounting requirement for employee share-based payment awards, nonemployee share-based payment awards within the scope of Topic 718 are measured at grant-date fair value of the equity instruments that an entity is obligated to issue when the good has been delivered or the service has been rendered and any other conditions necessary to earn the right to benefit from the instruments have been satisfied. The Company has elected to account for forfeiture of stock-based awards as they occur.
Loss Per Share	Loss Per Share The Company follows FASB ASC 260, “Earnings per Share”, resulting in the presentation of basic and diluted earnings per share. Because the Company reported a net loss in 2023, 2022 and 2021, common stock equivalents, including stock options and warrants were anti-dilutive; therefore, the amounts reported for basic and dilutive loss per share were the same.
Recoverability of Long-Lived Assets	Recoverability of Long-Lived Assets The Company follows FASB ASC 360, “Property, Plant, and Equipment”. Long-lived assets to be held and used are reviewed for impairment whenever events or changes in circumstances indicate that the related carrying amount may not be recoverable. When required, impairment losses on assets to be held and used are recognized based on the excess of the asset’s carrying amount.
Comprehensive Income (Loss)	Comprehensive Income (Loss) The Company follows FASB ASC 220.10, “Reporting Comprehensive Income (Loss).” Comprehensive income (loss) is a more inclusive financial reporting methodology that includes disclosure of certain financial information that historically has not been recognized in the calculation of net income (loss). Since the Company has no items of other comprehensive income (loss), comprehensive income (loss) is equal to net income (loss).
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements As of December 31, 2023 and for the period then ended, there are no recently adopted accounting standards that have a material effect on the Company’s financial statements.
Recently Issued Accounting Pronouncements Not Yet Adopted	Recently Issued Accounting Pronouncements Not Yet Adopted As of December 31, 2023, there are no recently issued accounting standards not yet adopted which would have a material effect on the Company’s financial statements.
Reclassifications	Reclassifications Certain reclassifications have been made to the 2022 financial statement in order to conform to the 2023 financial statement presentation.

REVENUE (Tables)

REVENUE (Tables)	12 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Schedule of contract balances	Schedule of contract balances December 31, 2023 Accounts receivable, net $ 30,376 Short-term contract assets $ — Long-term contract assets $ — Short-term liability deferred revenue $ 39,875 Long-term liability deferred revenue $ —

PREPAID EXPENSES AND OTHER CU_2

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)	12 Months Ended
	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of prepaid expenses and other current assets	Schedule of prepaid expenses and other current assets December 31, 2023 December 31, 2022 Materials fabrication $ 475,936 $ — License 241,936 94,195 Insurance 237,791 218,767 Prototype devices 161,267 40,473 Other 53,373 45,675 Rent 36,525 36,525 Deposit for equipment 20,000 59,850 Investor relations 6,313 18,250 Lease incentive receivable 4,480 — Legal — 83,941 Loan interest receivable — 13,669 prepaid expenses and other current $ 1,237,621 $ 611,345

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
schedule of property and equipment	schedule of property and equipment December 31, 2023 December 31, 2022 Office equipment $ 146,196 $ 119,404 Lab equipment 8,937,847 6,234,777 Furniture 74,119 33,128 Leasehold improvements 396,111 184,843 Software 111,077 — 9,665,350 6,572,152 Less: Accumulated depreciation 4,674,560 4,052,885 $ 4,990,790 $ 2,519,267

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets	Schedule of intangible assets December 31, 2023 December 31, 2022 Patents $ 1,913,751 $ 1,606,064 Less: Accumulated amortization 659,250 575,729 Intangible assets - net $ 1,254,501 $ 1,030,335

COMMITMENTS (Tables)

COMMITMENTS (Tables)	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of future lease payments of operating leases	Schedule of future lease payments of operating leases YEARS ENDING DECEMBER 31, AMOUNT 2024 $ 376,364 2025 387,666 2026 399,199 2027 411,174 2028 423,612 Thereafter 2,357,570 4,355,585 Less discounted interest (1,444,495 ) TOTAL $ 2,911,090

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of income tax benefit provision	Schedule of income tax benefit provision 2023 2022 2021 Current $ — $ — $ — Deferred (6,526,000 ) (5,071,000 ) (3,692,000 ) Change in valuation allowance 6,526,000 5,071,000 3,692,000 Total $ — $ — $ —
Schedule of reconciliation of statutory federal rate to effective income tax ate	Schedule of reconciliation of statutory federal rate to effective income tax ate 2023 2022 2021 Amount % Amount % Amount % Income tax benefit at U.S. federal income tax rate $ (4,418,000 ) ( 21 ) $ (3,618,000 ) ( 21 ) $ (3,913,000 ) ( 21 ) State tax benefit, net of federal tax effect (957,000 ) ( 5 ) (784,000 ) ( 4 ) (838,000 ) ( 4 ) Federal deduction net of tax 44,000 — 35,000 — 38,000 — Tax exempt income — — — — (111,000 ) ( 1 ) Non-deductible share-based compensation 1,653,000 8 1,430,000 8 899,000 5 Exercised share based compensation (2,850,000 ) ( 13 ) (2,981,000 ) ( 17 ) — — Other 2,000 — 847,000 5 233,000 1 Change in valuation allowance 6,526,000 31 5,071,000 29 3,692,000 20 $ — — $ — — $ — —
Schedule of components of deferred tax assets	Schedule of components of deferred tax assets 2023 2022 2021 Deferred tax asset for NOL carryforwards $ 29,018,000 $ 23,930,000 $ 19,966,000 Share-based compensation 3,889,000 2,451,000 1,242,000 Other (102,000 ) (102,000 ) — Valuation allowance (32,805,000 ) (26,279,000 ) (21,208,000 ) Total $ — $ — $ —

STOCK BASED COMPENSATION (Table

STOCK BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of share-based compensation	Schedule of share-based compensation 2023 2022 2021 2007 Employee Stock Option Plan $ — $ — $ — 2016 Equity Incentive Plan 6,459,387 5,813,628 1,022,985 2016 Equity Incentive Plan restricted stock awards 262,697 91,713 — Warrants — — 11,001 Total share-based compensation $ 6,722,084 $ 5,905,341 $ 1,033,986
Schedule of stock option and warrant activity	Schedule of stock option and warrant activity Non-Qualified Stock Options and Warrants Outstanding and Exercisable Number of Exercise Weighted Average Exercise Shares Price Price Outstanding, December 31, 2020 10,022,500 $ 0.51 1.69 $ 0.85 Granted 1,061,000 $ 1.27 16.81 $ 2.32 Forfeited (28,750 ) $ 0.64 0.86 $ 0.82 Exercised (3,168,502 ) $ 0.60 1.50 $ 0.88 Outstanding, December 31, 2021 7,886,248 $ 0.51 16.81 $ 1.02 Granted 884,500 $ 5.81 10.86 $ 9.18 Expired (25,000 ) $ 1.69 $ 1.69 Forfeited (15,250 ) $ 1.46 7.53 $ 5.71 Exercised (657,325 ) $ 0.64 5.81 $ 1.00 Outstanding, December 31, 2022 8,073,173 $ 0.51 16.81 $ 1.91 Granted 1,959,667 $ 4.28 7.67 $ 5.24 Forfeited (39,625 ) $ 6.25 8.93 $ 7.12 Exercised (1,183,408 ) $ 0.67 5.22 $ 0.86 Outstanding, December 31, 2023 8,809,807 $ 0.51 16.81 $ 2.76 Exercisable, December 31, 2023 7,967,605 $ 0.51 16.81 $ 2.49
Schedule of non-qualified stock options and warrants outstanding	Schedule of non-qualified stock options and warrants outstanding Non-Qualified Stock Options and Warrants Outstanding Range of Exercise Prices Number Outstanding Currently Exercisable at December 31, 2023 Weighted Average Remaining Contractual Life Weighted Average Exercise Price of Options and Warrants Currently Exercisable $ 0.51 16.81 7,967,605 5.4 $2.49
Schedule of fair value of restricted stock awards	Schedule of fair value of restricted stock awards Restricted Stock Awards Year ended December 31, 2023 December 31, 2022 December 31, 2021 Weighted Average Weighted Average Weighted Average Number of Shares Grant Date Fair Value per Share Number of Shares Grant Date Fair Value per Share Number of Shares Grant Date Fair Value per Share Non-vested, beginning of period 13,816 $ 9.65 — $ — — $ — Granted 105,854 5.31 28,500 9.65 — — Vested (41,218 ) 6.00 (9,504 ) 9.65 — — Cancelled and forfeited — — (5,180 ) 9.65 — — Non-vested, end of period 78,452 $ 5.71 13,816 $ 9.65 — $ —

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	Dec. 31, 2023
Accounting Policies [Abstract]
Estimated useful lives of assets	5 years
Estimated useful life of patents	20 years

MANAGEMENT_S PLANS (Details Nar

MANAGEMENT’S PLANS (Details Narrative) - USD ($)		1 Months Ended	12 Months Ended
	Dec. 09, 2022	Feb. 29, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Feb. 28, 2023
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Expected expenditures per month			$ 1,830,000
Revenue			40,502
Purchase Agreement [Member] | Forecast [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Purchase agreement amount received		$ 3,335,300
Agreement to sell invest common stock value remaining amount available		10,518,648
Sales Agreement [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Revenue			$ 40,502
Sales Agreement [Member] | Forecast [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Agreement to sell invest common stock value remaining amount available		33,382,897
Sales agreement amount received		$ 52,669
Institutional Investor [Member] | Purchase Agreement [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Agreement to sell invest common stock value upper limit instutional investor						$ 30,000,000
Institutional Investor [Member] | Sales Agreement [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Aggregate offering price	$ 35,000,000

REVENUE (Details - Contract bal

REVENUE (Details - Contract balances) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Accounts receivable, net	$ 30,376
Short-term contract assets
Long-term contract assets
Short-term liability deferred revenue	39,875
Long-term liability deferred revenue

REVENUE (Details Narrative)

REVENUE (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
License paid	$ 50,000
Deferred revenue	39,875
Revenues	40,502
Contract balances		$ 0
Sales Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenues	$ 40,502

PREPAID EXPENSES AND OTHER CU_3

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Details - Prepaid expenses and other current assets) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Materials fabrication	$ 475,936
License	241,936	94,195
Insurance	237,791	218,767
Prototype devices	161,267	40,473
Other	53,373	45,675
Rent	36,525	36,525
Deposit for equipment	20,000	59,850
Investor relations	6,313	18,250
Lease incentive receivable	4,480
Legal		83,941
Loan interest receivable		13,669
prepaid expenses and other current	$ 1,237,621	$ 611,345

LOAN RECEIVABLE (Details Narrat

LOAN RECEIVABLE (Details Narrative) - Convertible Loan Agreement [Member]		12 Months Ended
	Sep. 12, 2022 EUR (€)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Principal amount	€ 600,000	$ 642,120
Interest rate	7%
Maturity date	Mar. 31, 2023
Interest income		11,125	$ 13,375
Interest receivable		$ 13,669

PROPERTY AND EQUIPMENT (Propert

PROPERTY AND EQUIPMENT (Property and equipment) (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property and equipment gross	$ 9,665,350	$ 6,572,152
Less: Accumulated depreciation	4,674,560	4,052,885
Property and equipment net	4,990,790	2,519,267
Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment gross	146,196	119,404
Other Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment gross	8,937,847	6,234,777
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property and equipment gross	74,119	33,128
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment gross	396,111	184,843
Software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment gross	$ 111,077

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 1,035,620	$ 966,995	$ 792,004
Proceeds from equipment	590
Trade in credit	216,090
Gain on disposal of property and equipment	$ 215,509
Leasehold improvements		$ 70,963
Retire property and equipment			$ 0

INTANGIBLE ASSETS (Schedule of

INTANGIBLE ASSETS (Schedule of Patents) (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Patents	$ 1,913,751	$ 1,606,064
Less: Accumulated amortization	659,250	575,729
Intangible assets - net	$ 1,254,501	$ 1,030,335

INTANGIBLE ASSETS (Details Narr

INTANGIBLE ASSETS (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 83,521	$ 78,213	$ 86,516
Patent costs written off	$ 0	$ 0	$ 0

COMMITMENTS (Schedule of Future

COMMITMENTS (Schedule of Future Lease Payments of Operating Leases) (Details)	Dec. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2024	$ 376,364
2025	387,666
2026	399,199
2027	411,174
2027	423,612
Thereafter	2,357,570
Lessee operating lease liability to be paid	4,355,585
Less discounted interest	(1,444,495)
Total	$ 2,911,090

COMMITMENTS (Details Narrative)

COMMITMENTS (Details Narrative) - USD ($)		1 Months Ended			12 Months Ended
	Nov. 02, 2019	Nov. 22, 2022	Nov. 30, 2017	Oct. 30, 2017	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Jun. 01, 2023	Jan. 02, 2019
Loss Contingencies [Line Items]
Lease term		128 months		61 months
Lease date				Nov. 01, 2017
Lease effective date		Jun. 01, 2023		Nov. 30, 2022
Extended lease term				24 months
Lease rent for next ful year		$ 377,288		$ 168,824
Percentage of rent increase annual base rent		3%		3%
Prepaid Rents				$ 347,045
Operating lease expenses				186,293
Security deposit				$ 36,525
Lease consideration received			$ 260,000
Percentage of estimated incremental borrowing rate	6.50%
Operating lease right of use asset					$ 2,838,210	$ 358,254		$ 2,945,322	$ 885,094
Base rent		$ 30,517
Lease allowance		$ 43,216
Research and Development Expense [Member]
Loss Contingencies [Line Items]
Rent expense					236,170	138,394	$ 134,243
General and Administrative Expense [Member]
Loss Contingencies [Line Items]
Rent expense					$ 78,724	$ 46,132	$ 44,747

PAYCHECK PROTECTION PROGRAM A_2

PAYCHECK PROTECTION PROGRAM ADVANCE (Details Narrative) - Paycheck Protection Program [Member] - USD ($)	1 Months Ended
	Apr. 24, 2020	Apr. 23, 2020
Short-Term Debt [Line Items]
Proceeds from issuance of debt	$ 410,700
Principal amount		$ 410,700

INCOME TAXES (Schedule of Incom

INCOME TAXES (Schedule of Income Tax (Benefit) Provision) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Current
Deferred	(6,526,000)	(5,071,000)	(3,692,000)
Change in valuation allowance	6,526,000	5,071,000	3,692,000
Total

INCOME TAXES (Schedule of Recon

INCOME TAXES (Schedule of Reconciliation of Statutory Federal Rate to Effective Income Tax Rate) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income tax benefit at U.S. federal income tax rate	$ (4,418,000)	$ (3,618,000)	$ (3,913,000)
Income tax benefit at U.S. federal income tax rate, percentage	21%	21%	21%
State tax benefit, net of federal tax effect	$ (957,000)	$ (784,000)	$ (838,000)
State tax benefit, net of federal tax effect, percentage	5%	4%	4%
Federal deduction net of tax	$ 44,000	$ 35,000	$ 38,000
Federal deduction net of tax, percentage
Tax exempt income			$ (111,000)
Tax exempt income, percentage			1%
Non-deductible share-based compensation	$ 1,653,000	$ 1,430,000	$ 899,000
Non-deductible share-based compensation, percentage	8%	8%	5%
Exercised share based compensation	$ (2,850,000)	$ (2,981,000)
Exercised share based compensation, percentage	13%	17%
Other	$ 2,000	$ 847,000	$ 233,000
Other, percentage		5%	1%
Change in valuation allowance	$ 6,526,000	$ 5,071,000	$ 3,692,000
Change in valuation allowance, percentage	31%	29%	20%
Total
Total percentage

INCOME TAXES (Schedule of Compo

INCOME TAXES (Schedule of Components of Deferred Tax Assets) (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Deferred tax asset for NOL carryforwards	$ 29,018,000	$ 23,930,000		$ 19,966,000
Share-based compensation	3,889,000	2,451,000		1,242,000
Other	(102,000)	(102,000)
Valuation allowance	(32,805,000)	(26,279,000)	$ (21,208,000)	(21,208,000)
Total

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jan. 02, 2018	Jan. 01, 2018
Income Tax Disclosure [Abstract]
Valuation allowance	$ 32,805,000	$ 26,279,000	$ 21,208,000	$ 21,208,000
Increase (decrease) in valuation allowance	6,526,000	$ 5,071,000	$ 3,692,000
Operating loss carry forwards	$ 117,985,000				$ 79,710,000	$ 38,275,000
Carry forwards expiration date	Dec. 31, 2038

STOCKHOLDERS_ EQUITY (Details N

STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($)						1 Months Ended			10 Months Ended	12 Months Ended	27 Months Ended	60 Months Ended
	Aug. 01, 2023	Mar. 16, 2023	Feb. 28, 2023	Dec. 09, 2022	Oct. 04, 2021	Feb. 29, 2024	Jan. 31, 2024	Jan. 31, 2019	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2023	Nov. 20, 2020	Feb. 04, 2020	Feb. 13, 2019
Sales Agreement [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Common stock shares sold						12,150	12,150			202,115
Proceeds from commissions						$ 52,669	$ 52,669			$ 1,515,878
Payment for commission to investment banking						$ 1,629	$ 1,629			$ 46,884
Restricted Stock Units (RSUs) [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Option granted	6,238	99,616
Grant date fair value	$ 6.68	$ 5.22
Restricted Stock Units (RSUs) [Member] | 2016 Equity Incentive Plan [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Vested due next twelve months	218	8,338
Remaining vested due next twelve months	215	2,766
Institutional Investor [Member] | Sales Agreement [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Aggregate offering price				$ 35,000,000
Commission rate				3%
Institutional Investor [Member] | 2019 Purchase Agreement [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Agreement with an institutional investor to sell common stock and investor								$ 25,000,000
Registering shares of common stock													8,000,000	6,000,000	9,500,000
Common stock issued to institutional investor as commitment fee, shares								350,000
Common stock issued to institutional investor as commitment fee								$ 258,125
Common stock reserved for additional commitment fees to the institutional investor								812,500				39,834
Common stock issued for commitment shares												22,337,500
Proceeds from common stock												$ 23,773,924
Additional shares issued												772,666
Additional shares issued amount												$ 1,575,509
Institutional Investor [Member] | 2021 Purchase Agreement [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Common stock reserved for additional commitment fees to the institutional investor					60,623
Common stock issued for commitment shares										779,945	3,632,456
Proceeds from common stock										$ 3,847,307	$ 33,000,000
Additional shares issued					30,312					7,069	60,623
Additional shares issued amount					$ 279,174					$ 38,161
Agreement to sell invest common stock value upper limit institutional investor					$ 33,000,000
Additional value issued amount											$ 694,531
Institutional Investor [Member] | 2023 Purchase Agreement [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Common stock reserved for additional commitment fees to the institutional investor			101,781			35,683	35,683
Common stock issued for commitment shares						800,000	800,000		2,870,455
Proceeds from common stock						$ 3,335,300	$ 3,335,300		$ 16,146,052
Additional shares issued			50,891			11,319	11,319		54,779
Additional shares issued amount			$ 279,391			$ 50,841	$ 50,841		$ 356,026
Agreement to sell invest common stock value upper limit institutional investor			$ 30,000,000

STOCK BASED COMPENSATION (Stock

STOCK BASED COMPENSATION (Stock based compensation plans) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total share-based compensation	$ 6,722,084	$ 5,905,341	$ 1,033,986
2007 Employee Stock Option Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total share-based compensation
2016 Equity Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total share-based compensation	6,459,387	5,813,628	1,022,985
2016 Equity Incentive Plan Restricted Stock Awards [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total share-based compensation	262,697	91,713
Warrants [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total share-based compensation			$ 11,001

STOCK BASED COMPENSATION (Stoc

STOCK BASED COMPENSATION (Stock option and warrant outstanding and exercisable) (Details) - Non Qualified Stock Options And Warrants [Member] - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares outstanding, beginning balance	8,073,173	7,886,248	10,022,500
Exercise price beginning balance, minimum	$ 0.51	$ 0.51	$ 0.51
Exercise price beginning balance, maximum	16.81	16.81	1.69
Weighted average exercise price beginning balance	$ 1.91	$ 1.02	$ 0.85
Number of shares, granted	1,959,667	884,500	1,061,000
Exercise price granted, minimum	$ 4.28	$ 5.81	$ 1.27
Exercise price granted, maximum	7.67	10.86	16.81
Weighted average exercise price granted	$ 5.24	$ 9.18	$ 2.32
Number of shares, forfeited	(39,625)	(15,250)	(28,750)
Exercise price forfeited, minimum	$ 6.25	$ 1.46	$ 0.64
Exercise price forfeited, maximum	8.93	7.53	0.86
Weighted average exercise price, forfeited	$ 7.12	$ 5.71	$ 0.82
Number of shares, exercised	(1,183,408)	(657,325)	(3,168,502)
Exercise price exercised, minimum	$ 0.67	$ 0.64	$ 0.60
Exercise price exercised, maximum	5.22	5.81	1.50
Weighted average exercise price, exercised	$ 0.86	$ 1	$ 0.88
Number of shares, expired		(25,000)
Expired price expired		$ 1.69
Weighted average exercise price expired		$ 1.69
Number of shares outstanding, ending balance	8,809,807	8,073,173	7,886,248
Weighted average exercise price, ending balance	$ 2.76	$ 1.91	$ 1.02
Number of shares, exercisable	7,967,605
Exercise price exercisable, minimum	$ 0.51
Exercise price exercisable, maximum	16.81
Weighted average exercise price, exercisable	$ 2.49

STOCK BASED COMPENSATION (Summa

STOCK BASED COMPENSATION (Summary of Stock Option and Warrant Outstanding) (Details) - Non Qualified Stock Options And Warrants [Member] - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Exercise prices, minimum	$ 0.51	$ 0.51	$ 0.51
Exercise prices, maximum	16.81	$ 16.81	$ 1.69
Exercise Price $0.51-$16.81 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Exercise prices, minimum	0.51
Exercise prices, maximum	$ 16.81
Number outstanding currently exercisable	7,967,605
Weighted average remaining contractual life	5 years 4 months 24 days
Weighted average exercise price of options and warrants currently exercisable	$ 2.49

STOCK BASED COMPENSATION (Restr

STOCK BASED COMPENSATION (Restricted Stock activity) (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares non vested outstanding, beginning balance	13,816
Weighted average fair value per share, beginning balance	$ 9.65
Number of shares, granted	105,854	28,500
Weighted average fair value per share, granted	$ 5.31	$ 9.65
Number of shares, vested	(41,218)	(9,504)
Weighted average fair value per share, vested	$ 6	$ 9.65
Number of shares, cancelled and forfeited		(5,180)
Weighted average fair value per share, cancelled and forfeited		$ 9.65
Number of shares non vested outstanding, ending balance	78,452	13,816
Weighted average fair value per share, ending balance	$ 5.71	$ 9.65

STOCK BASED COMPENSATION (Detai

STOCK BASED COMPENSATION (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	May 25, 2023	May 16, 2019
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock remaining for grants	5,291,784
Pricing model used in calculation of grant-date fair value	Black-Scholes
Expected dividend yield	0%	0%	0%
Expected option life	10 years	10 years	10 years
Unrecognized compensation expense related to non-vested market-based share awards	$ 3,295,335
Aggregate intrinsic value of options and warrants outstanding	24,308,723
Aggregate intrinsic value of options and warrants exercisable	$ 24,214,724	$ 2,920,861
Share Price	$ 4.98
Options exercised	914,408	302,950	2,046,250
Aggregate intrinsic value	$ 4,698,996
Proceeds from options exercised	$ 777,674	$ 257,895	$ 1,950,875
Warrants exercised	269,000	350,000	677,000
Warrants exercised value	$ 1,162,230
Proceed from warrants exercised	236,250	$ 396,000	$ 428,350
Cashless options exercised		4,375	445,252
Cashless options exercised aggregate intrinsic value		$ 53,219	$ 3,406,530
Warrants exercised aggregate intrinsic value		2,555,750	6,796,400
Options exercised aggregate intrinsic value			$ 22,351,788
Unamortized value	$ 432,292	$ 133,324
Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected volatility	73.70%	74.70%	70.40%
Risk-free interest rate	3.37%	1.87%	1.15%
Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected volatility	77.20%	76.40%	77.10%
Risk-free interest rate	4.82%	3.84%	1.73%
2007 Employee Stock Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares authorized under plan	10,000,000
Number of common shares available to be purchased through options issued and outstanding	2,063,000
2016 Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares authorized under plan	3,000,000
Number of common shares available to be purchased through options issued and outstanding	6,227,807
Common stock remaining for grants	129,174
Exercisable period	10 years
2016 Plan [Member] | Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares authorized under plan				8,000,000	3,000,000
2016 Plan [Member] | Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares authorized under plan				13,000,000	8,000,000

RELATED PARTY (Details Narrativ

RELATED PARTY (Details Narrative) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Related Party [Member]
Related Party Transaction [Line Items]
Legal accrual to related party	$ 115,160	$ 60,577
Accounting service fee accrual	102,351	3,233
Director [Member]
Related Party Transaction [Line Items]
Director fees	53,776
Director committee fees		13,500
Advisory Board [Member]
Related Party Transaction [Line Items]
Fees and consulting expense	33,746	18,000
Travel expense accruals	33,746
Officer [Member]
Related Party Transaction [Line Items]
Travel and office expense accruals	$ 8,450	$ 4,859

RETIREMENT PLAN (Details Narrat

RETIREMENT PLAN (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
Contributions to 401k plan	$ 72,570	$ 57,126	$ 53,035