Qualigen Therapeutics (QLGN) 10-K 31 Mar 22 2021 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2021	Mar. 25, 2022	Jun. 30, 2021
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2021
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--12-31
Entity File Number	001-37428
Entity Registrant Name	Qualigen Therapeutics, Inc.
Entity Central Index Key	0001460702
Entity Tax Identification Number	26-3474527
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	2042 Corte Del Nogal
Entity Address, City or Town	Carlsbad
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92011
City Area Code	(760)
Local Phone Number	918-9165
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	QLGN
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	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 57,063,765
Entity Common Stock, Shares Outstanding		35,295,541
Documents Incorporated by Reference [Text Block]	Portions of the registrant’s definitive Proxy Statement for the 2022 Annual Meeting of Stockholders, to be filed with the Securities and Exchange Commission pursuant to Regulation 14A not later than 120 days after the end of the period covered by this Annual Report on Form 10-K, are incorporated by reference in Part III, Items 10 to 14 of this Annual Report on Form 10-K. Except for the portions of the Proxy Statement specifically incorporated by reference in this Form 10-K, the Proxy Statement shall not be deemed to be filed as part hereof.
ICFR Auditor Attestation Flag	false
Auditor Name	BAKER TILLY US, LLP
Auditor Location	San Diego, California
Auditor Firm ID	23

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Current assets
Cash	$ 17,538,272	$ 23,976,570
Accounts receivable, net	822,351	615,757
Inventory, net	1,055,878	953,458
Prepaid expenses and other current assets	1,379,896	2,678,894
Total current assets	20,796,397	28,224,679
Right-of-use assets	1,645,568	430,795
Property and equipment, net	203,920	247,323
Equipment held for lease, net	296	17,947
Intangible assets, net	171,190	187,694
Other assets	18,334	18,334
Total Assets	22,835,705	29,126,772
Current liabilities
Accounts payable	886,224	500,768
Accrued expenses and other current liabilities	1,793,901	746,738
Notes payable, current portion		131,766
Deferred revenue, current portion	135,063	486,031
Operating lease liability, current portion	134,091	254,739
Warrant liabilities	1,686,200	8,310,100
Total current liabilities	4,635,479	10,430,142
Notes payable, net of current portion		6,973
Operating lease liability, net of current portion	1,542,564	236,826
Deferred revenue, net of current portion	92,928	158,271
Total liabilities	6,270,971	10,832,212
Commitments and contingencies (Note 9)
Stockholders’ equity
Series Alpha convertible preferred stock, $0.001 par value; 7,000 shares authorized; 0 and 180 shares issued and outstanding as of December 31, 2021 and December 31, 2020		1
Common stock, $0.001 par value; 225,000,000 shares authorized; 35,290,178 and 27,296,061 shares issued and outstanding as of December 31, 2021 and December 31, 2020, respectively	35,290	27,296
Additional paid-in capital	101,274,073	85,114,755
Accumulated deficit	(84,744,629)	(66,847,492)
Total stockholders’ equity	16,564,734	18,294,560
Total Liabilities & Stockholders’ Equity	$ 22,835,705	$ 29,126,772

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Series Alpha convertible preferred stock, par value	$ 0.001	$ 0.001
Series Alpha convertible preferred stock, shares authorized	7,000	7,000
Series Alpha convertible preferred stock, shares issued	0	180
Series Alpha convertible preferred stock, shares outstanding	0	180
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	225,000,000	225,000,000
Common stock, shares issued	35,290,178	27,296,061
Common stock, shares outstanding	35,290,178	27,296,061

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	9 Months Ended	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2021
REVENUES
Total revenues	$ 2,849,561	$ 5,653,725
EXPENSES
Cost of product sales	2,640,148	4,332,485
General and administrative	7,105,337	11,724,964
Research and development	3,316,099	11,716,718
Sales and marketing	307,903	542,594
Impairment loss on construction in progress	1,376,000
Total expenses	14,745,487	28,316,761
LOSS FROM OPERATIONS	(11,895,926)	(22,663,036)
OTHER (INCOME) EXPENSE, NET
(Gain) loss on change in fair value of warrant liabilities	8,310,100	(4,723,187)
Gain on loan extinguishment	(451,345)
Interest (income) expense, net	48,039	(42,693)
Other income, net	(256,354)	(5,446)
Total other (income) expense, net	7,650,440	(4,771,326)
LOSS BEFORE PROVISION FOR INCOME TAXES	(19,546,366)	(17,891,710)
PROVISION FOR INCOME TAXES		5,427
NET LOSS	$ (19,546,366)	$ (17,897,137)
Net loss per common share, basic and diluted	$ (1.12)	$ (0.61)
Weighted—average number of shares outstanding, basic and diluted	17,431,714	29,334,865
Net Product Sales [Member]
REVENUES
Total revenues	$ 2,849,561	$ 5,021,721
License Revenue [Member]
REVENUES
Total revenues		$ 632,004

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($)	Series A Convertible Preferred Stock [Member]Preferred Stock [Member]	Series B Convertible Preferred Stock [Member]Preferred Stock [Member]	Series C Convertible Preferred Stock [Member]Preferred Stock [Member]	Series D Convertible Preferred Stock [Member]Preferred Stock [Member]	Series D-1 Convertible Preferred Stock [Member]Preferred Stock [Member]	Series Alpha Convertible Preferred Stock [Member]Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Mar. 31, 2020	$ 24,129	$ 77,077	$ 33,007	$ 15,083	$ 6,435		$ 56,026	$ 45,161,599	$ (47,301,126)	$ (1,927,770)
Beginning balance, shares at Mar. 31, 2020	2,412,887	7,707,736	3,300,715	1,508,305	643,511		5,602,214
Issuance of Series Alpha preferred shares upon closing of private placement						$ 5		4,009,995		4,010,000
Issuance of Series Alpha preferred shares upon closing of private placement, shares						5,010
Issuance of Series Alpha preferred stock for conversion of notes payable								350,000		350,000
Issuance of Series Alpha preferred stock for conversion of notes payable, shares						350
Issuance of common stock for conversion of preferred stock	$ (24,129)	$ (77,077)	$ (33,007)	$ (15,083)	$ (6,435)	$ (4)	$ 13,046	142,690
Issuance of common stock for conversion of preferred stock, shares	(2,412,887)	(7,707,736)	(3,300,715)	(1,508,305)	(643,511)	(5,180)	13,046,931
Issuance of common stock for conversion of notes payable and accrued interest							$ 1,775	1,582,633		1,584,408
Issuance of common stock for conversion of notes payable and accrued interest, shares							1,775,096
Effect of reverse recapitalization							$ (52,519)	863,405		810,886
Effect of reverse recapitalization, shares							(2,095,826)
Shares and warrants issued to advisor upon closing of private placement							$ 1,217	1,103,891		1,105,108
Shares and warrants issued to advisor upon closing of private placement, shares							1,217,147
Fair value of shares issued to advisor upon closing of private placement								(902,250)		(902,250)
Fair value of warrants issued to advisor upon closing of private placement								(202,858)		(202,858)
Shares and warrants issued pursuant to Securities Purchase Agreements							$ 6,009	29,994,771		30,000,781
Shares and warrants issued pursuant to Securities Purchase Agreements, shares							6,008,660
Commission and offering costs of Securities Purchase Agreements								(1,360,800)		(1,360,800)
Stock issued for professional services							$ 47	239,953		240,000
Stock issued for professional services, shares							46,967
Warrants exercised							$ 1,695	1,330,875		1,332,570
Warrants exercised, shares							1,694,872
Stock-based compensation								2,800,851		2,800,851
Net Loss									(19,546,366)	(19,546,366)
Ending balance, value at Dec. 31, 2020						$ 1	$ 27,296	85,114,755	(66,847,492)	18,294,560
Ending balance, shares at Dec. 31, 2020						180	27,296,061
Stock issued upon cash-exercise of warrants							$ 1,619	2,358,570		2,360,189
Stock issued upon cash-exercise of warrants, shares							1,618,297
Stock issued upon net-exercise of warrants							$ 227	(227)
Stock issued upon net-exercise of warrants, shares							227,404
Issuance of common stock for conversion of preferred stock						$ (1)	$ 243	(243)		(1)
Issuance of common stock for conversion of preferred stock, shares						(180)	243,416
Fair value of warrants issued for professional services								298,651		298,651
Shares issued pursuant to Securities Purchase Agreements							$ 5,880	8,814,120		8,820,000
Shares issued pursuant to Securities Purchase Agreements, shares							5,880,000
Commission and offering costs of Securities Purchase Agreements								(2,960,465)		(2,960,465)
Fair value of warrant modifications pursuant to Securities Purchase Agreements								2,253,536		2,253,536
Stock issued for professional services							$ 25	101,725		101,750
Stock issued for professional services, shares							25,000
Stock-based compensation								5,293,651		5,293,651
Net Loss									(17,897,137)	(17,897,137)
Ending balance, value at Dec. 31, 2021							$ 35,290	$ 101,274,073	$ (84,744,629)	$ 16,564,734
Ending balance, shares at Dec. 31, 2021							35,290,178

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	9 Months Ended	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (19,546,366)	$ (17,897,137)	$ (20,421,979)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	88,383	113,218
Amortization of right-of-use assets	154,717	225,059
Impairment loss on construction in progress	1,376,000
Gain on CARES Act loan extinguishment	(449,050)
Accounts receivable reserves and allowances	(12,669)	(247,845)
Inventory reserves	10,060	(108,138)
Common stock issued for professional services		101,750
Warrants issued for professional services		298,651
Stock-based compensation	2,800,851	5,293,651
(Gain) loss on change in fair value of warrant liabilities	8,310,100	(4,723,187)
Write off of patents and licenses	374,618
Changes in operating assets and liabilities:
Accounts receivable	104,214	41,250
Inventory and equipment held for lease	(297,637)	111,422
Prepaid expenses and other assets	(1,531,056)	1,298,998
Accounts payable	(378,496)	385,455
Accrued expenses and other current liabilities	(333,665)	1,047,163
Due to related party	(926,385)
Operating lease liability	(171,545)	(254,740)
Deferred revenue	264,991	(416,312)
Net cash used in operating activities	(10,162,935)	(14,730,742)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(208,464)	(134,471)
Payments for patents and licenses	(6,455)	(6,893)
Cash and cash equivalents acquired in reverse recapitalization	149,825
Net cash used in investing activities	(65,094)	(141,364)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of Series Alpha preferred shares upon closing of private placement	4,010,000
Net proceeds from warrant exercises	1,332,570	459,476
Net proceeds from the issuance of notes payable	1,392,463
Proceeds from issuance of shares and warrants pursuant to Securities Purchase Agreements	30,000,781	8,820,000
Offering costs of Securities Purchase Agreements	(1,360,800)	(706,929)
Principal payments on notes payable	(1,323,536)	(138,739)
Net cash provided by financing activities	34,051,478	8,433,808
Net change in cash	23,823,449	(6,438,298)
CASH - beginning of period	153,121	23,976,570
CASH - end of period	23,976,570	17,538,272	$ 23,976,570
Cash paid during the year for:
Interest	32,692	1,233
Taxes	4,774	5,133
NONCASH FINANCING AND INVESTING ACTIVITIES:
Issuance of common stock for professional services	240,000
Issuance of common stock for conversion of debt and accrued interest	1,584,408
Issuance of common stock for conversion of preferred stock before closing of reverse recapitalization	148,690
Issuance of preferred stock for conversion of debt	350,000
Fair value of shares issued to advisor upon closing of private placement	902,250
Fair value of warrants issued to advisor upon closing of private placement	202,858
Effect of reverse recapitalization	810,886
Issuance of common stock for conversion of preferred stock after closing of reverse recapitalization	6,000	243
Right-of-use assets obtained in exchange for operating lease liabilities	663,110	1,439,830
CARES Act loan interest forgiven	2,295
Fair value of shares issued for cashless warrant exercises	101,187	764,657
Net transfers to inventory from equipment held for lease	5,743	1,304
Warrant modifications pursuant to Securities Purchase Agreements		2,253,536
Fair value of warrant liabilities on date of exercise		$ 1,900,713

ORGANIZATION AND SUMMARY OF SIG

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ESTIMATES	12 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ESTIMATES	NOTE 1 — ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ESTIMATES Organization Qualigen, Inc., now a subsidiary of Qualigen Therapeutics, Inc., was incorporated in Minnesota in 1996 to design, develop, manufacture and sell point-of-care quantitative immunoassay diagnostic products for use in physician offices and other point-of-care settings worldwide, and was reincorporated in Delaware in 1999. Qualigen Therapeutics, Inc. (the “Company”) operates in one business segment. In May 2020, Qualigen, Inc. completed a reverse recapitalization transaction with Ritter Pharmaceuticals, Inc. (“Ritter”) and Ritter was renamed Qualigen Therapeutics, Inc., recognized as a reverse recapitalization. All shares of Qualigen, Inc.’s capital stock were exchanged for Qualigen Therapeutics, Inc.’s capital stock in the merger. Ritter/Qualigen Therapeutics common stock, which was previously traded on the Nasdaq Capital Market under the ticker symbol “RTTR,” commenced trading on the Nasdaq Capital Market, on a post-reverse-stock-split adjusted basis, under the trading symbol “QLGN” on May 26, 2020. Qualigen, Inc. was determined to be the accounting acquirer in a reverse recapitalization based upon the terms of the merger and other factors. All references to financial figures of the Company presented in the accompanying consolidated financial statements and in these Notes through May 22, 2020 are to those of Qualigen, Inc. All references to financial figures after May 22, 2020 are to those of Qualigen Therapeutics, Inc. and Qualigen, Inc. Basis of Presentation The accompanying consolidated financial statements of the Company have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”), Regulation S-X and rules and regulations of the Securities and Exchange Commission (“SEC”). Accounting Periods During 2020, the Company changed its fiscal year end from March 31st to December 31st. In this annual report we show the twelve-month year ended December 31, 2021 (“Fiscal 2021”) and nine months ended December 31, 2020 (the “Transition Period”). All references in this report to the Transition Period are to the nine months ended December 31, 2020; and references to Fiscal 2021 are to the calendar 12-month fiscal year ending December 31, 2021. Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiary. All intercompany balances and transactions have been eliminated in consolidation. Any reference in these notes to applicable guidance is meant to refer to U.S. GAAP. The Company views its operations and manages its business in one operating segment. All long-lived assets of the Company reside in the US. Accounting Estimates Management uses estimates and assumptions in preparing its consolidated financial statements in accordance with U.S. GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. The most significant estimates relate to the estimated fair value of warrant liabilities, stock-based compensation, write-off of patents and licenses, amortization and depreciation, inventory reserves, allowances for doubtful accounts and returns, and warranty costs. Actual results could vary from the estimates that were used. Cash The Company considers all highly liquid investments purchased with an initial maturity of 90 days or less and money market funds to be cash equivalents. The Company maintains its cash in bank deposits which exceed federally insured limits and could potentially be subject to significant concentrations of credit risk on cash. The Company reviews the financial stability of its depository institutions on a regular basis, and has not experienced any losses in such accounts Inventory, Net Inventory is recorded at the lower of cost or net realizable value. Cost is determined using the first-in, first-out method. The Company reviews the components of its inventory on a periodic basis for excess or obsolete inventory, and records reserves for inventory components identified as excess or obsolete. Long-Lived Assets The Company assesses potential impairments to its long-lived assets when there is evidence that events or changes in circumstances indicate that assets may not be recoverable. An impairment loss would be recognized when the sum of the expected future undiscounted cash flows is less than the carrying amount of the assets. The amount of impairment loss, if any, will generally be measured as the difference between the net book value of the assets and their estimated fair values. During the nine months ended December 31, 2020, the Company recognized $ 1.4 no Accounts Receivable, Net The Company grants credit to domestic physicians, clinics, and distributors. The Company performs ongoing credit evaluations of its customers and generally requires no collateral. Customers can purchase certain products through a financing agreement that the Company has with an outside leasing company. Under the agreement, the leasing company evaluates the credit worthiness of the customer. Upon acceptance of the product by the customer, the leasing company remits payment to the Company at a discount. This financing arrangement is without recourse to the Company. The Company records an allowance for doubtful accounts and returns equal to the estimated uncollectible amounts or expected returns. The Company’s estimates are based on historical collections and returns and a review of the current status of trade accounts receivable. Accounts receivable is comprised of the following at: SCHEDULE OF ACCOUNTS RECEIVABLE December 31, 2021 December 31, 2020 Accounts Receivable $ 958,448 $ 629,630 Less Allowances (136,097 ) (13,873 ) Accounts receivable, net $ 822,351 $ 615,757 Research and Development The Company expenses research and development costs as incurred including therapeutics license costs. Shipping and Handling Costs The Company includes shipping and handling fees billed to customers in net sales. Shipping and handling costs associated with inbound and outbound freight are generally recorded in cost of sales; such shipping and handling costs totaled approximately $ 113,000 84,000 December 31, 2020 12,000 9,000 December 31, 2020 Revenue from Contracts with Customers We apply the following five-step model in accordance with ASC 606, Revenue from Contracts with Customers Product Sales The Company generates revenue from selling FastPack System analyzers, accessories and disposable products used with the FastPack System. Disposable products include reagent packs which are diagnostic tests for PSA, testosterone, thyroid disorders, pregnancy, and Vitamin D. The Company provides disposable products and equipment in exchange for consideration, which occurs when a customer submits a purchase order and the Company provides disposable products and equipment at the agreed upon prices in the invoice. Generally, customers purchase disposable products using separate purchase orders after the equipment (“analyzer”) has been provided to the customer. The initial delivery of the equipment and reagent packs represents a single performance obligation and is completed upon receipt by the customer. The delivery of each subsequent individual reagent pack represents a separate performance obligation because the reagent packs are standardized, are not interrelated in any way, and the customer can benefit from each reagent pack without any other product. There are no significant discounts, rebates, returns or other forms of variable consideration. Customers are generally required to pay within 30 days. The performance obligation arising from the delivery of the equipment is satisfied upon the delivery of the equipment to the customer. The disposable products are shipped Free on Board (“FOB”) shipping point. For disposable products that are shipped FOB shipping point, the customer has the significant risks and rewards of ownership and legal title to the assets when the disposable products leave the Company’s shipping facilities, thus the customer obtains control and revenue is recognized at that point in time. The Company has elected the practical expedient and accounting policy election to account for the shipping and handling as activities to fulfill the promise to transfer the disposable products and not as a separate performance obligation. The Company’s contracts with customers generally have an expected duration of one year or less, and therefore the Company has elected the practical expedient in ASC 606 to not disclose information about its remaining performance obligations. Any incremental costs to obtain contracts are recorded as selling, general and administrative expense as incurred due to the short duration of the Company’s contracts. License Revenue The Company enters into out-license agreements with counterparties to develop and/or commercialize its products in exchange for nonrefundable upfront license fees and/or sales-based royalties. If the license to the Company’s intellectual property is determined to be distinct from the other performance obligations identified in the arrangement, the Company recognizes revenue from nonrefundable upfront fees allocated to the license when the license is transferred to the customer and the customer can benefit from the license. For licenses that are bundled with other performance obligations, management uses judgment to assess the nature of the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time and, if over time, the appropriate method of measuring progress for purposes of recognizing revenue from nonrefundable upfront fees. The Company evaluates the measure of progress each reporting period and, if necessary, adjusts the measure of progress and related revenue recognition. During the year ended December 31, 2021 and the nine months ended December 30, 2020, the Company recognized license revenue of approximately $ 632,004 and $ 0 , respectively. Contract Asset and Liability Balances The timing of the Company’s revenue recognition may differ from the timing of payment by the Company’s customers. The Company records a receivable when revenue is recognized prior to payment and there is an unconditional right to payment. Alternatively, when payment precedes the provision of the related services, the Company records deferred revenue until the performance obligations are satisfied. Multiple element arrangements included contracts that combined both the Company’s analyzer and a customer’s future reagent purchases under a single contract. In some sales contracts, the Company provided analyzers at no charge to customers. Title to the analyzer was maintained by the Company and the analyzer was returned by the customer to the Company at the end of the purchase agreement. During the year ended December 31, 2021 and nine months ended December 31, 2020 150,000 18,300 Deferred Revenue Payments received in advance from customers pursuant to certain collaborative research license agreements, deposits against future product sales, multiple element arrangements and extended warranties are recorded as a current or non-current deferred revenue liability based on the time from the Consolidated Balance Sheet date to the future date of revenue recognition. Research and Development The Company expenses research and development costs as incurred. Operating Leases Effective April 1, 2020, the Company adopted Accounting Standard Update (“ASU”) No. 2018-11, Leases (Topic 842) Targeted Improvements The Company’s leases typically contain rent escalations over the lease term. The Company recognizes rent expense for these leases on a straight-line basis over the lease term. Additionally, tenant incentives used to fund leasehold improvements are recognized when received and reduce the Company’s right-of-use (“ROU”) asset related to the lease. These are amortized through the ROU asset as reductions of expense over the lease term. The Company’s office/manufacturing/warehouse/laboratory lease agreement does not contain any material residual value guarantees or material restrictive covenants. Related to the adoption of Topic 842, the Company’s policy elections were as follows: ● The Company has used the practical expedients under U.S. GAAP which allow it to not reassess whether any expired or existing contracts are considered a lease, along with grandfathering lease classifications, and treatment of indirect costs; ● The Company has elected to exclude short-term leases having initial terms of 12 months or less; ● The Company has elected not to separate non-lease components from its leases to account for them separately; ● The Company has elected not to avail itself of the practical expedient of using hindsight to determine the lease term; and ● The Company has elected the alternative transition option, by recognizing a cumulative effect adjustment to the opening balance of accumulated deficit in the period of adoption (as of April 1, 2020, the adoption of Topic 842 did not have a material effect on retained earnings). Property and Equipment, Net Property and equipment are stated at cost and are presented net of accumulated depreciation. Depreciation is provided for on a straight-line basis over the estimated useful lives of the related assets as follows: SCHEDULE OF USEFUL LIVES OF PROPERTY AND EQUIPMENT Machinery and equipment 5 Computer equipment 3 Molds and tooling 5 Furniture and fixtures 5 Leasehold improvements are amortized on a straight-line basis over the shorter of the lease term or their estimated useful lives. The Company occasionally designs and builds its own machinery. The costs of these projects, which includes the cost of construction and other direct costs attributable to the construction, are capitalized as construction in progress. No provision for depreciation is made on construction in progress until the relevant assets are completed and placed in service. The Company’s policy is to evaluate the remaining lives and recoverability of long-term assets on at least an annual basis or when conditions are present that indicate impairment. Intangible Assets, Net Intangibles consist of patent-related costs and costs for license agreements. Management reviews the carrying value of intangible assets that are being amortized on an annual basis or sooner when there is evidence that events or changes in circumstances may indicate that impairment exists. The Company considers relevant cash flow and profitability information, including estimated future operating results, trends and other available information, in assessing whether the carrying value of intangible assets being amortized can be recovered. If the Company determines that the carrying value of intangible assets will not be recovered from the undiscounted future cash flows expected to result from the use and eventual disposition of the underlying assets, the Company considers the carrying value of such intangible assets as impaired and reduces them by a charge to operations in the amount of the impairment. Costs related to acquiring patents and licenses are capitalized and amortized over their estimated useful lives, which is generally 5 17 The carrying value of the patents of approximately $ 159,000 169,000 December 31, 2020 320,000 303,000 December 31, 2020 17,000 10,000 19,000 18,000 15,000 14,000 79,000 The carrying value of the licenses of approximately $ 12,000 19,000 December 31, 2020 407,000 400,000 December 31, 2020 7,000 5,000 7,000 5,000 Derivative Financial Instruments and Warrant Liabilities The Company does not use derivative instruments to hedge exposures to cash flow, market, or foreign currency risks. The Company evaluates all of its financial instruments, including issued stock purchase warrants, to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the Consolidated Statements of Operations. Depending on the features of the derivative financial instrument, the Company uses either the Black-Scholes option-pricing model or a Monte-Carlo simulation to value the derivative instruments at inception and subsequent valuation dates. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is re-assessed at the end of each reporting period (See Note 7). Fair value measurements The Company determines the fair value measurements of applicable assets and liabilities based on a three-tier fair value hierarchy established by accounting guidance and prioritizes the inputs used in measuring fair value. The Company discloses and recognizes the fair value of its assets and liabilities using a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to valuations based upon unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to valuations based upon unobservable inputs that are significant to the valuation (Level 3 measurements). The guidance establishes three levels of the fair value hierarchy as follows: ● Level 1 - Inputs that reflect unadjusted quoted prices in active markets for identical assets or liabilities that we have the ability to access at the measurement date; ● Level 2 - Inputs other than quoted prices that are observable for the assets or liabilities either directly or indirectly, including inputs in markets that are not considered to be active; and ● Level 3 - Inputs that are unobservable. Fair Value of Financial Instruments Cash, accounts receivable, accounts payable, accrued liabilities, and debt are carried at amortized cost, which management believes approximates fair value due to the short-term nature of these instruments. Stock-Based Compensation Stock-based compensation cost for equity awards granted to employees and non-employees is measured at the grant date based on the calculated fair value of the award using the Black-Scholes option-pricing model, and is recognized as an expense, under the straight-line method, over the requisite service period (generally the vesting period of the equity grant). If the Company determines that other methods are more reasonable, or other methods for calculating these assumptions are prescribed by regulators, the fair value calculated for the Company’s stock options could change significantly. Higher volatility, lower risk free interest rates, and longer expected lives would result in an increase to stock-based compensation expense to employees and non-employees determined at the date of grant. Income Taxes Deferred income taxes are recognized for temporary differences in the basis of assets and liabilities for financial statement and income tax reporting that arise due to net operating loss carry forwards, research and development credit carry forwards and from using different methods and periods to calculate depreciation and amortization, allowance for doubtful accounts, accrued vacation, research and development expenses, and state taxes. A provision has been made for income taxes due on taxable income and for the deferred taxes on the temporary differences. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. Realization of the deferred income tax asset is dependent on generating sufficient taxable income in future years. Sales and Excise Taxes Sales and other taxes collected from customers and subsequently remitted to government authorities are recorded as accounts receivable with corresponding tax payable. These balances are removed from the balance Consolidated Balance Sheet as cash is collected from customers and remitted to the tax authority. Warranty Costs The Company’s warranty policy generally provides for one year of coverage against defects and nonperformance within published specifications for sold analyzers and for the term of the contract for equipment held for lease. The Company accrues for estimated warranty costs in the period in which the revenue is recognized based on historical data and the Company’s best estimates of analyzer failure rates and costs to repair. Accrued warranty liabilities were approximately $ 60,000 25,000 December 31, 2020 57,000 54,000 December 31, 2020 Recent Accounting Pronouncements In May 2021, the FASB issued ASU No. 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)” In August 2020, the FASB issued ASU No. 2020-06, “ Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity The Company early adopted ASU No. 2020-06 on January 1, 2021. In August 2018, the FASB issued ASU No. 2018-13, “ Fair Value Measurement (Topic 820): Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement, In July 2018, the FASB issued ASU No. 2018-11, Leases (Topic 842) Targeted Improvements In June 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments Financial Instruments – Credit Losses (Topic 326), Derivatives and Hedging (Topic 815) Leases (Topic 842) Impact of the COVID-19 Pandemic Events surrounding the SARS-CoV-2 virus that emerged in late 2019 and the ensuing global pandemic has had a dramatic impact on businesses globally and our business as well. The severity and duration of the pandemic and economic repercussions of the virus and government actions taken in response to the pandemic remain uncertain and will ultimately depend on many factors, including the speed of global dissemination and effectiveness of the vaccination and containment efforts throughout the world, the duration and spread of the virus, as well as seasonality, variants or new outbreaks. In the United States, federal, state, and local government directives and policies have been put in place to manage public health concerns and address the economic impacts, including reduced business activity and overall uncertainty presented by this new healthcare challenge. Similar actions have been taken by governments around the world. Our facilities could be required to temporarily curtail production levels or temporarily cease operations based on government mandates or as a result of the pandemic. To mitigate risks, we continue to evaluate the extent to which COVID-19 may impact our business and operations and adjust risk mitigation planning and business continuity activities as needed. Other accounting standard updates are either not applicable to the Company or are not expected to have a material impact on the Company’s consolidated financial statements.

LIQUIDITY

LIQUIDITY	12 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
LIQUIDITY	NOTE 2 — LIQUIDITY The Company has incurred recurring losses from operations and has an accumulated deficit at December 31, 2021. The Company expects to continue to incur losses subsequent to the Consolidated Balance Sheet date of December 31, 2021. The Company’s reverse recapitalization transaction with Ritter closed in May 2020 together with an associated new equity capital raise of approximately $ 4.0 1.9 30.0 8.82

INVENTORY, NET

INVENTORY, NET	12 Months Ended
	Dec. 31, 2021
Inventory Disclosure [Abstract]
INVENTORY, NET	NOTE 3 — INVENTORY, NET Inventory, net consisted of the following at December 31, 2021 and December 31, 2020 SCHEDULE OF INVENTORY December 31, 2021 December 31, 2020 Raw materials $ 823,315 $ 579,765 Work in process 188,135 309,826 Finished goods 44,428 63,867 Total inventory $ 1,055,878 $ 953,458

PREPAID EXPENSES

PREPAID EXPENSES	12 Months Ended
	Dec. 31, 2021
Prepaid Expenses
PREPAID EXPENSES	NOTE 4 — PREPAID EXPENSES Prepaid expenses consisted of the following at December 31, 2021 and December 31, 2020 SCHEDULE OF PREPAID EXPENSES December 31, 2021 December 31, 2020 Prepaid insurance $ 1,197,726 $ 1,307,864 Prepaid manufacturing expenses 67,410 1,181,029 Prepaid investor relations expenses — 150,000 Other prepaid expenses 114,760 40,001 Prepaid expenses $ 1,379,896 $ 2,678,894

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT, NET	NOTE 5 — PROPERTY AND EQUIPMENT, NET Property and equipment, net consisted of the following at December 31, 2021 and December 31, 2020 SCHEDULE OF PROPERTY AND EQUIPMENT December 31, 2021 December 31, 2020 Machinery and equipment $ 2,482,841 $ 2,401,470 Construction in progress–equipment — 104,400 Computer equipment 345,117 443,865 Leasehold improvements 333,271 321,033 Molds and tooling 260,002 260,002 Furniture and fixtures 143,013 138,699 3,564,244 3,669,469 Less Accumulated depreciation (3,360,324 ) (3,422,146 ) $ 203,920 $ 247,323 Depreciation expense relating to property and equipment was approximately $ 73,000 33,000 December 31, 2020

ACCRUED EXPENSES AND OTHER CURR

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	12 Months Ended
	Dec. 31, 2021
Payables and Accruals [Abstract]
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	NOTE 6 — ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES Accrued expenses and other current liabilities consisted of the following at December 31, 2021 and December 31, 2020 SCHEDULE OF ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES December 31, 2021 December 31, 2020 Board compensation $ 17,500 $ 15,091 Franchise, sales and use taxes 14,090 30,353 Income taxes 3,620 3,326 Patent and license fees — 7,204 Payroll 682,036 4,566 Professional fees 225,308 58,261 Research and development 232,712 237,504 Royalties 10,152 491 Vacation 282,910 230,457 Warranty liability 60,281 24,871 Other 265,292 134,614 Accrued liabilities $ 1,793,901 $ 746,738

WARRANT LIABILITIES

WARRANT LIABILITIES	12 Months Ended
	Dec. 31, 2021
Warrant Liabilities
WARRANT LIABILITIES	NOTE 7 – WARRANT LIABILITIES In 2004, the Company issued warrants to various investors and brokers for the purchase of Series C preferred stock in connection with a private placement (the “Series C Warrants”). The Series C Warrants were subsequently extended and, upon closing of the reverse recapitalization transaction with Ritter, exchanged for warrants to purchase common stock of the Company, pursuant to the Series C Warrant terms as adjusted. In exchange for the Series C Warrants, upon closing of the merger with Ritter, the holders received warrants to purchase an aggregate of 4,713,490 0.72 1.9 2.5 The following table summarizes the activity in the Common Stock Warrants received in exchange for the Series C Warrants for the year ended December 31, 2021: SCHEDULE OF WARRANTS ACTIVITY Common Stock Warrants (received in exchange for the Series C Warrants) Shares Weighted– Average Exercise Price Range of Exercise Price Weighted– Average Remaining Life (Years) Total outstanding – December 31, 2020 3,378,596 $ 0.72 Series C preferred stock warrants exchanged for common stock warrants upon reverse recapitalization — — Exercised (807,311 ) 0.72 Forfeited (89,671 ) 0.72 Expired — — Granted — — Total outstanding – December 31, 2021 2,481,614 $ 0.72 Exercisable 2,481,614 $ 0.72 $ 0.72 2.00 Non-Exercisable — $ — $ — — The following table presents the Company’s fair value hierarchy for its Common Stock Warrant liabilities (all of which arise under the warrants received in exchange for the Series C Warrants) measured at fair value on a recurring basis as of December 31, 2021: SCHEDULE OF FAIR VALUE HIERARCHY FOR WARRANT LIABILITIES Quoted Market Significant Prices for Other Significant Identical Observable Unobservable Assets Inputs Inputs Common Stock Warrant liabilities (Level 1) (Level 2) (Level 3) Total Balance as of December 31, 2020 $ — $ — $ 8,310,100 $ 8,310,100 Exercises — — (1,900,713 ) (1,900,713 ) Gain on change in fair value of warrant liabilities — — (4,723,187 ) (4,723,187 ) Balance as of December 31, 2021 $ — $ — $ 1,686,200 $ 1,686,200 There were no transfers of financial assets or liabilities between category levels for the year ended December 31, 2021. The value of the warrant liabilities was based on a valuation received from an independent valuation firm determined using a Monte-Carlo simulation. For volatility, the Company considers comparable public companies as a basis for its expected volatility to calculate the fair value of common stock warrants and transitions to its own volatility as the Company develops sufficient appropriate history as a public company. The risk-free interest rate is based on U.S. Treasury notes with a term approximating the expected term of the common stock warrant. The Company uses an expected dividend yield of zero based on the fact that the Company has never paid cash dividends and does not expect to pay cash dividends in the foreseeable future. Any significant changes in the inputs may result in significantly higher or lower fair value measurements. The following are the weighted average and the range of assumptions used in estimating the fair value of warrant liabilities (weighted average calculated based on the number of outstanding warrants on each issuance) as of December 31, 2021: SCHEDULE OF ASSUMPTIONS OF WARRANT LIABILITIES December 31, 2021 Range Weighted Risk-free interest rate 0.69 0.84 % 0.72 % Expected volatility (peer group) 84 87 % 84.6 % Term of warrants (in years) 1.9 2.5 2.01 Expected dividend yield 0.00 % 0.00 % The value of the warrant liabilities is based on a valuation received from an independent valuation firm determined using a Monte-Carlo simulation.

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
EARNINGS (LOSS) PER SHARE	NOTE 8 — EARNINGS (LOSS) PER SHARE Basic earnings (loss) per share (“EPS”) is computed by dividing net income (loss) by the weighted-average number of common shares outstanding. Diluted EPS is computed based on the sum of the weighted-average number of common shares and potentially dilutive common shares outstanding during the period. Potentially dilutive common shares consist of shares issuable from stock options and warrants. The following table reconciles net loss and the weighted-average shares used in computing basic and diluted EPS in the respective periods: SCHEDULE OF EARNINGS PER SHARE BASIC AND DILUTED For the Year Ended December 31, For the Nine Months Ended December 31, 2021 2020 Net loss used for basic earnings per share $ (17,897,137 ) $ (19,546,366 ) Basic weighted-average common shares outstanding 29,334,865 17,431,714 Dilutive potential shares issuable from stock options and warrants — — Diluted weighted-average common shares outstanding 29,334,865 17,431,714 Potentially dilutive common shares excluded from the calculation above represent stock options and warrants because their effect is anti-dilutive.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 9 — COMMITMENTS AND CONTINGENCIES Leases The Company leases its facilities under a long-term operating lease agreement. On December 15, 2021, our wholly-owned subsidiary Qualigen, Inc. entered into a Second Amendment to Lease with Bond Ranch LP. This Amendment extended the Company’s triple-net leasehold on the Company’s existing 22,624 -square-feet headquarters/manufacturing facility at 2042 Corte del Nogal, Carlsbad, California for the 61 -month period of November 1, 2022 to November 30, 2027 . Over the 61 months, the base rent payable by Qualigen, Inc. will total $ 1,950,710 ; however, the base rent for the first 12 months of the 61-month period will be only $ 335,966 . Additionally, under the Second Amendment to Lease Qualigen, Inc. is entitled to a $ 339,360 tenant improvement allowance. The tables below show the operating lease right-of-use assets and operating lease liabilities as of initial measurement at April 1, 2020 and the balances as of December 31, 2021 SCHEDULE OF OPERATING LEASE RIGHT OF USE ASSETS AND OPERATING LEASE LIABILITIES Operating lease right-of-use assets Net right-of-use assets at December 31, 2020 $ 430,795 Additional operating lease right-of-use assets at December 31, 2021 1,439,830 Less amortization of operating lease right-of-use assets (225,057 ) Operating lease right-of-use assets at December 31, 2021 $ 1,645,568 Operating lease liabilities Lease liabilities arising from obtaining right-of-use assets at April 1, 2020: $ 491,565 Additional operating lease liabilities at December 31, 2021 1,439,830 Less principal payments on operating lease liabilities (254,740 ) Lease liabilities at December 31, 2021 1,676,655 Less non-current portion (1,542,564 ) Current portion at December 31, 2021 $ 134,091 As of December 31, 2021, the Company’s operating leases have a weighted-average remaining lease term of 5.8 8.8 As of December 31, 2021, the maturities of operating lease liabilities are as follows: SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES Year Ending December 31, Amount 2022 $ 277,192 2023 368,341 2024 379,392 2025 390,773 2026 402,497 2027 379,165 Total 2,197,360 Less present value discount (520,705 ) Operating lease liabilities $ 1,676,655 Total lease expense was approximately $ 342,000 259,000 December 31, 2020 Litigation and Other Legal Proceedings On November 9th, 2021, the Company was named as a defendant in an action brought by Mediant Communications Inc. (“Mediant”) in the U.S. District Court for the Southern District of New York . The complaint alleges that Qualigen entered into an implied contract with Mediant, whereby Qualigen retained Mediant to distribute proxy materials and subsequently conduct shareholder vote tabulations. The Company believes that the claims from Mediant are without merit and intends to vigorously defend the case. The Company filed a Motion to Dismiss with the District Court and on March 14, 2022 a hearing was held during which the presiding judge ruled in favor of the Motion to Dismiss. The Company and Mediant are currently conducting settlement negotiations.

RESEARCH AND LICENSE AGREEMENTS

RESEARCH AND LICENSE AGREEMENTS	12 Months Ended
	Dec. 31, 2021
Research And License Agreements
RESEARCH AND LICENSE AGREEMENTS	NOTE 10 — RESEARCH AND LICENSE AGREEMENTS The University of Louisville Research Foundation Between June 2018 and September 2020, the Company entered into license and sponsored research agreements with the University of Louisville Research Foundation (“ULRF”) for QN-247, a novel aptamer-based compound that has shown promise as an anticancer drug. Under the agreements, the Company will take over development, regulatory approval and commercialization of the compound from ULRF and is responsible for maintenance of the related intellectual property portfolio. In return, ULRF received a $ 50,000 805,000 200,000 In addition, the Company agreed to pay ULRF (i) royalties, on patent-covered net sales associated with the commercialization of anti-nucleolin agent-conjugated nanoparticles, of 4% (on net sales up to a cumulative $250,000,000) or 5% (on net sales above a cumulative $250,000,000), until expiration of the last to expire of the licensed patents, (ii) 30% to 50% of any non-royalty sublicensee income received (50% for sublicenses granted in the first two years of the ULRF license agreement, 40% for sublicenses granted in the third or fourth years of the ULRF license agreement, and 30% for sublicenses granted in the fifth year of the ULRF license agreement or thereafter), (iii) reimbursements for ongoing costs associated with the preparation, filing, prosecution and maintenance of licensed patents, incurred prior to June 2018, and (iv) payments ranging from $ 100,000 5,000,000 100,000 200,000 350,000 500,000 5,000,000 500,000,000 500,000 10,000 50,000 Sponsored research expenses related to these agreements for the year ended December 31, 2021 and nine months ended December 31, 2020 were approximately 325,000 14,000 0 10,000 December 31, 2020 118,000 470,000 December 31, 2020 In March 2019, the Company entered into a sponsored research agreement and an option for a license agreement with ULRF for development of several small-molecule RAS interaction inhibitor drug candidates. Under the terms of this agreement, the Company will reimburse ULRF for sponsored research expenses of up to $ 693,000 693,000 1.8 In July 2020, the Company entered into an exclusive license agreement with ULRF for RAS interaction inhibitor drug candidates. Under the agreement, the Company will take over development, regulatory approval and commercialization of the candidates from ULRF and is responsible for maintenance of the related intellectual property portfolio. In return, ULRF received approximately $112,000 for an upfront license fee and reimbursement of prior patent costs. In addition, the Company has agreed to pay ULRF (i) royalties, on patent-covered net sales associated with the commercialization, of 4% (on net sales up to a cumulative $250,000,000) or 5% (on net sales above a cumulative $250,000,000), until expiration of the licensed patent, and 2.5% (on net sales for any sales not covered by Licensed Patents), (ii) 30% to 50% of any non-royalty sublicensee income received (50% for sublicenses granted in the first two years of the ULRF license agreement, 40% for sublicenses granted in the third or fourth years of the ULRF license agreement, and 30% for sublicenses granted in the fifth year of the ULRF license agreement or thereafter), (iii) reimbursements for ongoing costs associated with the preparation, filing, prosecution and maintenance of licensed patents, incurred prior to July 2020, and (iv) payments ranging from $ 50,000 5,000,000 50,000 100,000 150,000 300,000 5,000,000 500,000,000 20,000 100,000 Sponsored research expenses related to these agreements for the year ended December 31, 2021 and nine months ended December 31, 2020 646,000 283,000 December 31, 2020 60,000 160,000 In June 2020, the Company entered into an exclusive license agreement with ULRF for its intellectual property in the use of QN-165 as a treatment for COVID-19. Under the agreement, the Company will take over development, regulatory approval and commercialization of the compound (for such use) from ULRF and is responsible for maintenance of the related intellectual property portfolio. In return, ULRF received approximately $ 24,000 250,000 430,000 In addition, the Company has agreed to pay ULRF (i) royalties, on patent-covered net sales associated with the commercialization of QN-165 as a treatment for COVID-19, of 4% (on net sales up to a cumulative $250,000,000) or 5% (on net sales above a cumulative $250,000,000), until expiration of the licensed patents, and 2.5% (on net sales for any sales not covered by Licensed Patents), (ii) 30% to 50% of any non-royalty sublicensee income received (50% for sublicenses granted in the first two years of the ULRF license agreement, 40% for sublicenses granted in the third or fourth years of the ULRF license agreement, and 30% for sublicenses granted in the fifth year of the ULRF license agreement or thereafter), (iii) reimbursements for ongoing costs associated with the preparation, filing, prosecution and maintenance of licensed patents, incurred prior to June 2020, and (iv) payments ranging from $ 50,000 5,000,000 50,000 100,000 150,000 300,000 5,000,000 500,000,000 5,000 50,000 Sponsored research expenses related to these agreements for the year ended December 31, 2021 and nine months ended December 31, 2020 243,000 14,000 December 31, 2020 28,000 24,000 Advanced Cancer Therapeutics In December 2018, the Company entered into a license agreement with Advanced Cancer Therapeutics, LLC (“ACT”), granting the Company exclusive rights to develop and commercialize QN-165, an aptamer-based drug candidate. In return, ACT received 25,000 3,000,000 3,000,000 100,000 2,000,000 100,000 500,000 3,000,000 2,000 $ 285,000 Prediction Biosciences In November 2015, the Company entered into a long-term development and supply agreement with Prediction Biosciences SAS to develop and manufacture diagnostic tests for use in the stroke point-of-care market. The Company recognizes development revenue and product sales over the performance period of the contract. For both the year ended December 31, 2021 and nine months ended December 31, 2020, there was no Sekisui Diagnostics In March 2018, the Company extended a strategic partnership entered into in May 2016 with Sekisui Diagnostics, LLC (“Sekisui”). The Company appointed Sekisui as its diagnostics commercial partner and exclusive worldwide distributor with the exception of certain customer accounts retained by Qualigen; Sekisui’s distribution arrangement is currently set to expire on March 31, 2022. The agreement contains a right of first refusal for Sekisui against any potential acquisition of the Company; the right of first refusal is currently set to expire on March 31, 2022. There were product sales to Sekisui of approximately $ 3.5 1.6 December 31, 2020 Yi Xin In October 2020, the Company entered into a Technology Transfer Agreement with Yi Xin Zhen Duan Jishu (Suzhou) Ltd. (“Yi Xin”), of Suzhou, China, for Yi Xin to develop, manufacture and sell new generations of diagnostic test systems based on the Company’s core FastPack technology. In addition, the Technology Transfer Agreement authorized Yi Xin to manufacture and sell the Company’s current generations of FastPack System diagnostic products (1.0, IP and PRO) in China. Under the Technology Transfer Agreement, we received net cash payments of $ 250,000 420,000 38,000 632,000 The Company gave Yi Xin the exclusive rights for China – which is a market the Company has not otherwise entered – both for Yi Xin’s new generations of FastPack-based products and for Yi Xin-manufactured versions of the Company’s existing FastPack product lines. Yi Xin will also have the right to sell its new generations of FastPack-based diagnostic test systems throughout the world (but not to or toward current customers of the Company’s existing generations of FastPack products); any such non-China sales would, until March 31, 2022, need to be through Sekisui. In addition, after March 31, 2022, Yi Xin will have the right to sell Yi Xin-manufactured versions of existing FastPack 1.0, IP and PRO product lines worldwide (other than in the United States and other than to or toward current non-U.S. customers of those products). Also, after March 31, 2022, Yi Xin will have the right to buy Company-manufactured FastPack 1.0, IP and PRO products from the Company at distributor prices for resale in and for the United States (but not to or toward current U.S. customers of those products); the Company did not license Yi Xin to sell in the United States market any Yi Xin-manufactured versions of those legacy FastPack 1.0, IP and PRO product lines, even after March 31, 2022. In the Technology Transfer Agreement, the Company confirmed that it would not, after March 31, 2022, seek new FastPack customers outside the United States. All of the March 31, 2022 dates in this paragraph are as established by an August 2021 amendment of the Technology Transfer Agreement. STA Pharmaceutical In November 2020, the Company entered into a contract with STA Pharmaceutical Co., Ltd., a subsidiary of WuXi AppTec, for GMP production of QN-165, which was the Company’s lead drug candidate for the treatment of COVID-19 and other viral diseases. In connection with this agreement, the Company paid an upfront deposit of approximately $ 1.1 Research and development expenses related to this agreement for the year ended December 31, 2021 and the nine months ended 2020 were approximately $ 3.2 0

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
STOCKHOLDERS’ EQUITY	NOTE 11 — STOCKHOLDERS’ EQUITY As of December 31, 2021, and 2020 the Company had two classes of capital stock: common stock and Series Alpha convertible preferred stock. As of April 1, 2020 the Company had two classes of capital stock with one being divided into five series: common stock and preferred stock (Series A convertible preferred stock, Series B convertible preferred stock, Series C convertible preferred stock, Series D convertible preferred stock and Series D-1 convertible preferred stock). Common Stock Holders of common stock generally vote as a class with the holders of the preferred stock and are entitled to one vote for each share held. Subject to the rights of the holders of the preferred stock to receive preferential dividends, the holders of common stock are entitled to receive dividends when and if declared by the Board of Directors. Following payment of the liquidation preference of the preferred stock, as of March 31, 2020 any remaining assets would be distributed ratably among the holders of the common stock and, on an as-if-converted basis, the holders of Series C convertible preferred stock, Series D convertible preferred stock and Series D-1 convertible preferred stock) upon liquidation, dissolution or winding up of the affairs of the Company. Following payment of the liquidation preference of the preferred stock, as of December 31, 2021 any remaining assets would be distributed ratably among the holders of the common stock and, on an as-if-converted basis, the holders of Series Alpha convertible preferred stock upon liquidation, dissolution or winding up of the affairs of the Company. The holders of common stock have no preemptive, subscription or conversion rights and there are no redemption or sinking fund provisions. On December 1, 2021, the Company closed a Securities Purchase Agreement (dated November 29, 2021) with several institutional investors for the purchase and sale of 5,880,000 1.50 8.82 At December 31, 2021, the Company has reserved 14,663,251 14,663,251 SCHEDULE OF RESERVED SHARES Exercise of issued and future grants of stock options 4,841,856 Exercise of stock warrants 9,821,395 Total 14,663,251 Series A, B, C, D, D-1, Alpha Convertible Preferred Stock At December 31, 2021 and 2020, there were no shares of Series A, B, C, D, D-1 convertible preferred stock outstanding. All shares of Series A, B, C, D, D-1 convertible preferred stock were converted into common stock at the time of the May 2020 reverse recapitalization transaction. At December 31, 2021, there were no 180 243,416 December 31, 2020 5,180 7,004,983 180 December 31, 2020 Alpha Securities Purchase Agreements On July 10, 2020, the Company closed a Securities Purchase Agreement (dated July 8, 2020) with a single institutional investor for the purchase and sale for $ 8.0 million of (i) 1,140,570 shares of Company common stock, (ii) 780,198 pre-funded warrants ( i.e. 1,920,768 two-year warrants to purchase shares of Company common stock for an exercise price of $ 5.25 per share. Both sets of warrants included a 9.99 % beneficial-ownership blocker provision. The 780,198 pre-funded warrants were then exercised on July 21 and 22, 2020. On August 4, 2020, the Company closed a Securities Purchase Agreement (dated August 2, 2020) with a single institutional investor for the purchase and sale for $ 10.0 1,717,106 1,287,829 6.00 9.99 On December 18, 2020, the Company closed a Securities Purchase Agreement (dated December 16, 2020) with a single institutional investor for the purchase and sale for $ 12.0 million of (i) 2,370,786 shares of Company common stock, (ii) 1,000,000 pre-funded warrants ( i.e. 1,348,314 two-year warrants to purchase shares of Company common stock for an exercise price of $ 4.07 per share, and (iv) 842,696 warrants (first exercisable 6 months after issuance, and with an expiration date 30 months after issuance) to purchase shares of Company common stock for an exercise price of $ 4.07 per share. The warrants included a 9.99 % beneficial-ownership blocker provision. Stock Options and Equity Classified Warrants Stock Options The Company recognizes all compensatory stock-based payments as compensation expense over the service period, which is generally the vesting period. In April 2020, the Company adopted the 2020 Stock Incentive Plan (the “2020 Plan”) which provides for the granting of incentive or non-statutory common stock options to qualified employees, officers, directors, consultants and other service providers. At December 31, 2021 and December 31, 2020 4,748,000 and 3,917,500 outstanding options, respectively, under the 2020 Plan and there were 2,809,157 and 139,657 of Plan shares available, respectively, for future grant. The shares available for future grant at December 31, 2021 reflect a 2020 Plan amendment approved by the Company’s stockholders on August 9, 2021 where the number of shares of common stock available for issuance under the 2020 Plan was increased by 3,500,000 shares. The following represents a summary of the options granted to employees and non-employee service providers that were outstanding at December 31, 2021 , and changes during the twelve months then ended: SCHEDULE OF STOCK OPTION ACTIVITY Shares Weighted– Average Exercise Price Range of Exercise Price Weighted– Average Remaining Life (Years) Total outstanding – December 31, 2020 4,011,356 $ 7.05 $ 3.52 1,465.75 9.29 Legacy Ritter options 95,124 92.80 $ 5.75 1,465.75 1.39 Granted 835,000 1.37 $ 1.24 3.29 9.79 Expired — — — Forfeited (4,500 ) 3.68 $ 3.52 4.97 Total outstanding – December 31, 2021 4,841,856 $ 6.07 $ 1.24 1,465.75 8.52 Exercisable (vested) 1,408,195 $ 10.88 $ 3.52 1,465.75 7.94 Non-Exercisable (non-vested) 3,433,661 $ 4.10 $ 1.24 5.13 8.81 The following represents a summary of the options granted (under the 2020 Plan and otherwise) to employees and non-employee service providers that were outstanding at December 30, 2020, and changes during the nine-month period then ended: Shares Weighted– Average Exercise Price Range of Exercise Price Weighted– Average Remaining Life (Years) Total outstanding – March 31, 2020 — $ — $ — Legacy Ritter options 95,124 92.80 $ 5.75 1,465.75 1.39 Granted 3,917,500 4.97 $ 3.52 5.13 9.46 Expired (1,268) 35 $ 15.00 562.50 Forfeited — — Total outstanding – December 31, 2020 4,011,356 $ 7.05 $ 3.52 1,465.75 9.29 Exercisable (vested) 108,856 $ 81.38 $ 3.52 1,465.75 2.50 Non-Exercisable (non-vested) 3,902,500 $ 4.97 $ 3.52 5.13 9.47 There was approximately $ 5.3 2.8 December 31, 2020 8.2 1.58 No The exercise price for an option issued under the 2020 Plan is determined by the Board of Directors, but will be (i) in the case of an incentive stock option (A) granted to an employee who, at the time of grant of such option, is a 10% stockholder, for no less than 110% of the fair market value per share on the date of grant; or (B) granted to any other employee, for no less than 100% of the fair market value per share on the date of grant; and (ii) in the case of a non-statutory stock option, for no less than 100% of the fair market value per share on the date of grant 1.10 during the nine months ended December 31, 2020 was $ 4.97 Fair Value of Equity Awards The Company utilizes the Black-Scholes option pricing model to value awards under the 2020 Plan, and for equity classified compensatory warrants. Key valuation assumptions include: ● Expected dividend yield. ● Expected stock-price volatility. ● Risk-free interest rate. ● Expected term. The material factors incorporated in the Black-Scholes model in estimating the fair value of the options granted for the periods presented were as follows: SCHEDULE OF ASSUMPTIONS USED IN BLACK-SCHOLES OPTION-PRICING METHOD For the Year Ended December 31, 2021 Expected dividend yield 0.00 % Expected stock-price volatility 102 % Risk-free interest rate 0.84 1.51 % Expected average term of options (in years) 6.27 Stock price 1.24 3.29 The Company recorded stock-based compensation expense and classified it in the Consolidated Statements of Operations as follows: SCHEDULE OF SHARE-BASED COMPENSATION EXPENSE For the Year Ended December 31, 2021 For the Nine Months Ended December 31, 2020 General and administrative $ 4,465,911 $ 2,388,380 Research and development 827,740 412,471 Total $ 5,293,651 $ 2,800,851 Equity Classified Compensatory Warrants During the year ended December 31, 2021, the Company issued equity classified compensatory warrants to a service provider for the purchase of 600,000 shares of Company common stock at an exercise price of $ 1.32 per share. The fair value issuance cost of approximately $ 0.3 million using the Black-Scholes options pricing model for these warrants was charged to general and administrative expenses in the Company’s Consolidated Statements of Operations. During the nine months ended December 31, 2020, in connection with the $ 4.0 811,431 1.11 In addition, various service providers hold equity classified compensatory warrants issued in 2017 and earlier (originally exercisable to purchase Series C convertible preferred stock, and now instead exercisable to purchase common stock) for the purchase of shares 514,451 2.30 no The following table summarizes the equity classified compensatory warrant activity for the year ended December 31, 2021: SCHEDULE OF WARRANT ACTIVITY Common Stock Shares Weighted– Average Exercise Price Range of Exercise Price Weighted– Average Remaining Life (Years) Total outstanding – December 31, 2020 1,294,217 $ 1.67 Series C preferred stock compensatory warrants exchanged for common stock warrants upon reverse recapitalization 668,024 2.25 Legacy Ritter warrants — — Granted to advisor and its designees 600,000 1.32 Exercised (38,390 ) 2.09 Expired — — Forfeited (65,179 ) 2.07 Total outstanding – December 31, 2021 1,790,648 1.52 1.11 2.54 2.64 Exercisable 1,790,648 1.52 1.11 2.54 2.64 Non-Exercisable — $ — $ — — The following table summarizes the compensatory warrant activity for nine months ended December 31, 2020 Common Stock Shares Weighted– Average Exercise Price Range of Exercise Price Weighted– Average Remaining Life (Years) Total outstanding – March 31, 2020 — $ — Series C preferred stock compensatory warrants exchanged for common stock warrants upon reverse recapitalization 668,024 2.25 Granted to advisor and its designees 811,431 1.11 Exercised (159,978 ) 1.26 Expired — — Forfeited (25,260 ) 2.07 Total outstanding – December 31, 2020 1,294,217 $ 1.6670 Exercisable 1,290,621 $ 1.66 $ 1.11 2.54 4.17 Non-Exercisable 3,596 $ 2.54 $ 2.54 5.72 There was a total of approximately $ 0.3 million of compensation costs related to outstanding warrants for the year ended December 31, 2021 and $ 0 for the nine months ended December 31, 2020 December 31, 2020 no unrecognized compensation cost related to nonvested warrants. Noncompensatory Equity Classified Warrants No new noncompensatory equity classified warrants were issued during the twelve months ended December 31, 2021. During the nine months ended December 31, 2020, as a commitment fee, the Company issued noncompensatory equity classified warrants to an investor for the purchase of 270,478 1.11 2,700,966 5.25 1,287,829 6.00 1,000,000 0.01 2,191,000 4.07 1,000,000 0.01 During the year ended December 31, 2021, with the exception of the warrants to purchase 270,478 1.11 5,399,517 2.00 2.3 The following table summarizes the noncompensatory equity classified warrant activity for the year ended December 31, 2021: SCHEDULE OF WARRANT ACTIVITY Common Stock Shares Weighted– Average Exercise Price Range of Exercise Price Weighted– Average Remaining Life (Years) Total outstanding – December 31, 2020 6,549,777 $ 4.36 Legacy Ritter warrants — — Granted — — Exercised (1,000,000 ) 0.01 Expired (640 ) 2,325 Forfeited — — Total outstanding – December 31, 2021 5,549,137 2.01 Exercisable 5,549,137 2.01 1.11 3.77 1.32 Non-Exercisable — $ — $ — — The following table summarizes the noncompensatory equity classified warrant activity for the nine months ended December 31, 2020: Common Stock Shares Weighted– Average Exercise Price Range of Exercise Price Weighted– Average Remaining Life (Years) Total outstanding – March 31, 2020 — $ — Legacy Ritter warrants 81,455 21.94 Granted 7,450,193 4.18 Exercised (980,198 ) 1.11 Expired (1,673 ) 1,562.50 Forfeited — — Total outstanding – December 31, 2020 6,549,777 4.36 Exercisable 5,707,081 4.40 0.01 2,325.00 1.43 Non-Exercisable 842,696 $ 4.07 $ 4.07 $ 3.00

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 12 — INCOME TAXES A reconciliation of the statutory income tax rates and the Company’s effective tax rate is as follows: SCHEDULE OF RECONCILIATION OF STATUTORY INCOME TAX RATE December 31, 2021 December 31, 2020 Statutory federal income tax rate 21.00 % 21.0 % State taxes, net of federal tax benefit 6.63 % 2.5 % Non-deductible expenses (1.19 )% (0.5 )% NOL Expiration (2.71 )% 0.0 % Tax Credit 0.86 % (2.8 )% Change in fair value of warrant liability 5.54 % (8.9 )% True-up (2.72 )% (1.1 )% Change in valuation allowance (27.44 )% (10.3 )% Income taxes provision (0.03 )% (0.1 )% Income tax expense for the year ended December 31, 2021 and nine months ended December 31, 2020 SCHEDULE OF PROVISION FOR INCOME TAXES December 31, 2021 December 31, 2020 Current Federal $ — $ — State 5,000 1,000 Total current provision 5,000 1,000 Deferred Federal (1,268,000 ) (1,634,000 ) State (3,641,000 ) (384,000 ) Total deferred benefit (4,909,000 ) (2,018,000 ) Change in valuation allowance 4,909,000 2,017,000 Total provision for income taxes $ 5,000 $ — The components of deferred tax assets and liabilities are as follows: SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES December 31, 2021 December 31, 2020 Deferred tax assets: Net operating loss $ 33,362,000 $ 28,914,000 Research and development credits 6,185,000 5,464,000 Accrued expenses 757,000 292,000 Patent 262,000 422,000 Impairment loss — 361,000 Stock compensation 2,747,000 2,654,000 Other — 84,000 Fixed assets 282,000 44,000 Total deferred income tax assets 43,595,000 38,235,000 Deferred tax liabilities: Intangible assets (34,000 ) (18,000 ) Right-of-use asset (436,000 ) — Total deferred income tax liabilities (470,000 ) (18,000 ) Net deferred income tax assets 43,125,000 38,217,000 Valuation allowance (43,125,000 ) (38,217,000 ) Deferred tax asset, net of allowance $ — $ — Based on the available objective evidence, including the Company’s history of cumulative losses, management believes it is likely that the net deferred tax assets will not be realizable. Accordingly, the Company provided for a full valuation allowance against its net deferred tax assets at December 31, 2021 and December 31, 2020 At December 31, 2021, the Company has federal and state net operating loss carryforwards of approximately $ 126,225,000 and $ 100,290,000 , respectively, which are available to offset future taxable income. Federal and State carryovers began to expire in 2020. As a result of the May 2020 reverse recapitalization an ownership change has occurred. The Company has not completed an Internal Revenue Code Section 382 analysis. As a result, there could be substantial limitations on the Company’s ability to utilize its pre-ownership change net operating loss and tax credit carryforwards. These substantial limitations may result in both a permanent loss of certain tax benefits related to net operating loss carryforwards and federal research and development credits, and an annual utilization limitation. Due to the full valuation allowance already in place, the Company does not anticipate any change in the Company’s effective tax rate. The Company also has research and development credit carryforwards for federal and state tax purposes of approximately $ 4,508,000 1,677,000 The research and development credit carryforwards began to expire in 2020 for federal tax purposes and have an indefinite life for state tax purposes. The Company files income tax returns in the U.S. federal jurisdiction and in various states. The Company’s federal income tax returns for the years 2016 and beyond remain subject to examination by the Internal Revenue Service. The Company’s California income tax returns for the years 2015 and beyond remain subject to examination by the California Franchise Tax Board. In addition, all of the net operating losses, research and development credit and other tax credit carryforwards that may be used in future years are still subject to adjustment. Generally accepted accounting principles clarify the accounting for uncertainty in income taxes recognized in the Company’s financial statements and prescribe thresholds for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return, and also provide guidance on de-recognition and measurement of a tax position taken or expected to be taken in a tax return. The Company adopted these provisions effective April 1, 2009. The Company did no December 31, 2020 no

TRANSITION PERIOD COMPARATIVE D

TRANSITION PERIOD COMPARATIVE DATA	12 Months Ended
	Dec. 31, 2021
Transition Period Comparative Data
TRANSITION PERIOD COMPARATIVE DATA	NOTE 13 — TRANSITION PERIOD COMPARATIVE DATA The following table presents certain comparative transition period financial information for the year ended December 31, 2021 and the twelve months ended December 31, 2020, respectively TRANSITION PERIOD COMPARATIVE DATA For the Twelve Months Ended December 31, 2021 For the Twelve Months Ended December 31, 2020 (unaudited) Revenues $ 5,653,725 $ 4,306,316 Gross profit on product sales $ 689,236 $ 629,517 Net loss before income taxes $ (17,891,710 ) $ (20,419,561 ) Net loss $ (17,897,137 ) $ (20,421,979 ) Net loss per share – basic and fully diluted $ (0.61 ) $ (1.17 ) Weighted average shares used in computing basic and diluted net loss per share 29,334,865 17,431,714

QUARTERLY FINANCIAL DATA (UNAUD

QUARTERLY FINANCIAL DATA (UNAUDITED)	12 Months Ended
	Dec. 31, 2021
Quarterly Financial Information Disclosure [Abstract]
QUARTERLY FINANCIAL DATA (UNAUDITED)	NOTE 14 - QUARTERLY FINANCIAL DATA (UNAUDITED) In connection with our year-end financial close process and related preparation of our 2021 Annual Report on Form 10-K, our management identified an error in the previously issued March 31, 2021, June 30, 2021, and September 30, 2021 unaudited interim condensed consolidated financial statements in which the fair value of its exercised liability classified warrants had been inadvertently excluded from reclassification into shareholders’ equity. This error resulted in a $ 1.9 SCHEDULE OF ERROR CORRECTIONS AND PRIOR PERIOD ADJUSTMENTS For the Quarter As reported Corrected Gain on change in fair value of warrant liabilities $ (2,122,900 ) $ (552,808 ) Net loss $ (3,672,627 ) $ (5,242,719 ) Net loss per common share $ (0.13 ) $ (0.19 ) For the Quarter For the Six Months As reported Corrected As reported Corrected Gain on change in fair value of warrant liabilities $ (2,075,100 ) $ (1,982,256 ) $ (4,198,000 ) $ (2,535,064 ) Net loss $ (5,305,233 ) $ (5,398,077 ) $ (8,977,860 ) $ (10,640,796 ) Net loss per common share $ (0.18 ) $ (0.19 ) $ (0.31 ) $ (0.37 ) For the Quarter For the Nine Months As reported Corrected As reported Corrected Gain on change in fair value of warrant liabilities $ (1,942,900 ) $ (1,763,936 ) $ (6,140,900 ) $ (4,299,000 ) Net loss $ (2,858,518 ) $ (3,037,482 ) $ (11,836,378 ) $ (13,678,278 ) Net loss per common share $ (0.10 ) $ (0.10 ) $ (0.41 ) $ (0.48 )

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 15 — SUBSEQUENT EVENTS On January 13, 2022, we entered into a License Agreement with UCL Business Limited to obtain an exclusive worldwide in-license of a genomic quadruplex (G4)-selective transcription inhibitor drug development program which had been developed at University College London, including lead and back-up compounds, preclinical data and a patent estate. (UCL Business Limited is the commercialization company for University College London.) The program’s lead compound will be further developed at Qualigen under the name QN-302 as a candidate for treatment for pancreatic ductal adenocarcinoma (PDAC), which represents the vast majority of pancreatic cancers. The Agreement requires a $ 150,000 upfront payment, reimbursement of past patent prosecution expenses (approximately $ 160,000 ), and (if and when applicable) tiered royalty payments in the low to mid-single digits, clinical/regulatory/sales milestone payments and a percentage of any non-royalty sublicensing consideration paid to Qualigen. On March 4, 2022, the Company received a letter (the “Notice”) from The Nasdaq Stock Market notifying the Company that, because the closing bid price for its common stock has been below $ 1.00 1.00 The Notice has no immediate effect on the listing of the Company’s common stock on The Nasdaq Capital Market. Pursuant to Nasdaq Marketplace Rule 5810(c)(3)(A), the Company has been provided an initial compliance period of 180 calendar days, or until August 31, 2022 to regain compliance with the Minimum Bid Price Requirement. During the compliance period, the Company’s shares of common stock will continue to be listed and traded on The Nasdaq Capital Market. To regain compliance, the closing bid price of the Company’s common stock must meet or exceed $ 1.00 In the event the Company is not in compliance with the Minimum Bid Price Requirement by August 31, 2022, the Company may be afforded a second 180 calendar day grace period. To qualify, the Company would be required to meet the continued listing requirements for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the Minimum Bid Price Requirement. In addition, the Company would be required to provide written notice of its intention to cure the minimum bid price deficiency during this second 180-day compliance period by effecting a reverse stock split, if necessary. The Company intends to actively monitor the bid price for its common stock between now and August 31, 2022 and will consider available options to regain compliance with the Minimum Bid Price Requirement. On March 7, 2022, the Company extended an amendment to its sponsored research agreement with ULRF for development of several small-molecule RAS interaction inhibitor drug candidates and increased the amount that the Company will reimburse ULRF for sponsored research expenses from $ 1.8 2.7

ORGANIZATION AND SUMMARY OF S_2

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ESTIMATES (Policies)	12 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Qualigen, Inc., now a subsidiary of Qualigen Therapeutics, Inc., was incorporated in Minnesota in 1996 to design, develop, manufacture and sell point-of-care quantitative immunoassay diagnostic products for use in physician offices and other point-of-care settings worldwide, and was reincorporated in Delaware in 1999. Qualigen Therapeutics, Inc. (the “Company”) operates in one business segment. In May 2020, Qualigen, Inc. completed a reverse recapitalization transaction with Ritter Pharmaceuticals, Inc. (“Ritter”) and Ritter was renamed Qualigen Therapeutics, Inc., recognized as a reverse recapitalization. All shares of Qualigen, Inc.’s capital stock were exchanged for Qualigen Therapeutics, Inc.’s capital stock in the merger. Ritter/Qualigen Therapeutics common stock, which was previously traded on the Nasdaq Capital Market under the ticker symbol “RTTR,” commenced trading on the Nasdaq Capital Market, on a post-reverse-stock-split adjusted basis, under the trading symbol “QLGN” on May 26, 2020. Qualigen, Inc. was determined to be the accounting acquirer in a reverse recapitalization based upon the terms of the merger and other factors. All references to financial figures of the Company presented in the accompanying consolidated financial statements and in these Notes through May 22, 2020 are to those of Qualigen, Inc. All references to financial figures after May 22, 2020 are to those of Qualigen Therapeutics, Inc. and Qualigen, Inc.
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements of the Company have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”), Regulation S-X and rules and regulations of the Securities and Exchange Commission (“SEC”).
Accounting Periods	Accounting Periods During 2020, the Company changed its fiscal year end from March 31st to December 31st. In this annual report we show the twelve-month year ended December 31, 2021 (“Fiscal 2021”) and nine months ended December 31, 2020 (the “Transition Period”). All references in this report to the Transition Period are to the nine months ended December 31, 2020; and references to Fiscal 2021 are to the calendar 12-month fiscal year ending December 31, 2021.
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiary. All intercompany balances and transactions have been eliminated in consolidation. Any reference in these notes to applicable guidance is meant to refer to U.S. GAAP. The Company views its operations and manages its business in one operating segment. All long-lived assets of the Company reside in the US.
Accounting Estimates	Accounting Estimates Management uses estimates and assumptions in preparing its consolidated financial statements in accordance with U.S. GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. The most significant estimates relate to the estimated fair value of warrant liabilities, stock-based compensation, write-off of patents and licenses, amortization and depreciation, inventory reserves, allowances for doubtful accounts and returns, and warranty costs. Actual results could vary from the estimates that were used.
Cash	Cash The Company considers all highly liquid investments purchased with an initial maturity of 90 days or less and money market funds to be cash equivalents. The Company maintains its cash in bank deposits which exceed federally insured limits and could potentially be subject to significant concentrations of credit risk on cash. The Company reviews the financial stability of its depository institutions on a regular basis, and has not experienced any losses in such accounts
Inventory, Net	Inventory, Net Inventory is recorded at the lower of cost or net realizable value. Cost is determined using the first-in, first-out method. The Company reviews the components of its inventory on a periodic basis for excess or obsolete inventory, and records reserves for inventory components identified as excess or obsolete.
Long-Lived Assets	Long-Lived Assets The Company assesses potential impairments to its long-lived assets when there is evidence that events or changes in circumstances indicate that assets may not be recoverable. An impairment loss would be recognized when the sum of the expected future undiscounted cash flows is less than the carrying amount of the assets. The amount of impairment loss, if any, will generally be measured as the difference between the net book value of the assets and their estimated fair values. During the nine months ended December 31, 2020, the Company recognized $ 1.4 no
Accounts Receivable, Net	Accounts Receivable, Net The Company grants credit to domestic physicians, clinics, and distributors. The Company performs ongoing credit evaluations of its customers and generally requires no collateral. Customers can purchase certain products through a financing agreement that the Company has with an outside leasing company. Under the agreement, the leasing company evaluates the credit worthiness of the customer. Upon acceptance of the product by the customer, the leasing company remits payment to the Company at a discount. This financing arrangement is without recourse to the Company. The Company records an allowance for doubtful accounts and returns equal to the estimated uncollectible amounts or expected returns. The Company’s estimates are based on historical collections and returns and a review of the current status of trade accounts receivable. Accounts receivable is comprised of the following at: SCHEDULE OF ACCOUNTS RECEIVABLE December 31, 2021 December 31, 2020 Accounts Receivable $ 958,448 $ 629,630 Less Allowances (136,097 ) (13,873 ) Accounts receivable, net $ 822,351 $ 615,757
Research and Development	Research and Development The Company expenses research and development costs as incurred including therapeutics license costs.
Shipping and Handling Costs	Shipping and Handling Costs The Company includes shipping and handling fees billed to customers in net sales. Shipping and handling costs associated with inbound and outbound freight are generally recorded in cost of sales; such shipping and handling costs totaled approximately $ 113,000 84,000 December 31, 2020 12,000 9,000 December 31, 2020
Revenue from Contracts with Customers	Revenue from Contracts with Customers We apply the following five-step model in accordance with ASC 606, Revenue from Contracts with Customers Product Sales The Company generates revenue from selling FastPack System analyzers, accessories and disposable products used with the FastPack System. Disposable products include reagent packs which are diagnostic tests for PSA, testosterone, thyroid disorders, pregnancy, and Vitamin D. The Company provides disposable products and equipment in exchange for consideration, which occurs when a customer submits a purchase order and the Company provides disposable products and equipment at the agreed upon prices in the invoice. Generally, customers purchase disposable products using separate purchase orders after the equipment (“analyzer”) has been provided to the customer. The initial delivery of the equipment and reagent packs represents a single performance obligation and is completed upon receipt by the customer. The delivery of each subsequent individual reagent pack represents a separate performance obligation because the reagent packs are standardized, are not interrelated in any way, and the customer can benefit from each reagent pack without any other product. There are no significant discounts, rebates, returns or other forms of variable consideration. Customers are generally required to pay within 30 days. The performance obligation arising from the delivery of the equipment is satisfied upon the delivery of the equipment to the customer. The disposable products are shipped Free on Board (“FOB”) shipping point. For disposable products that are shipped FOB shipping point, the customer has the significant risks and rewards of ownership and legal title to the assets when the disposable products leave the Company’s shipping facilities, thus the customer obtains control and revenue is recognized at that point in time. The Company has elected the practical expedient and accounting policy election to account for the shipping and handling as activities to fulfill the promise to transfer the disposable products and not as a separate performance obligation. The Company’s contracts with customers generally have an expected duration of one year or less, and therefore the Company has elected the practical expedient in ASC 606 to not disclose information about its remaining performance obligations. Any incremental costs to obtain contracts are recorded as selling, general and administrative expense as incurred due to the short duration of the Company’s contracts. License Revenue The Company enters into out-license agreements with counterparties to develop and/or commercialize its products in exchange for nonrefundable upfront license fees and/or sales-based royalties. If the license to the Company’s intellectual property is determined to be distinct from the other performance obligations identified in the arrangement, the Company recognizes revenue from nonrefundable upfront fees allocated to the license when the license is transferred to the customer and the customer can benefit from the license. For licenses that are bundled with other performance obligations, management uses judgment to assess the nature of the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time and, if over time, the appropriate method of measuring progress for purposes of recognizing revenue from nonrefundable upfront fees. The Company evaluates the measure of progress each reporting period and, if necessary, adjusts the measure of progress and related revenue recognition. During the year ended December 31, 2021 and the nine months ended December 30, 2020, the Company recognized license revenue of approximately $ 632,004 and $ 0 , respectively. Contract Asset and Liability Balances The timing of the Company’s revenue recognition may differ from the timing of payment by the Company’s customers. The Company records a receivable when revenue is recognized prior to payment and there is an unconditional right to payment. Alternatively, when payment precedes the provision of the related services, the Company records deferred revenue until the performance obligations are satisfied. Multiple element arrangements included contracts that combined both the Company’s analyzer and a customer’s future reagent purchases under a single contract. In some sales contracts, the Company provided analyzers at no charge to customers. Title to the analyzer was maintained by the Company and the analyzer was returned by the customer to the Company at the end of the purchase agreement. During the year ended December 31, 2021 and nine months ended December 31, 2020 150,000 18,300 Deferred Revenue Payments received in advance from customers pursuant to certain collaborative research license agreements, deposits against future product sales, multiple element arrangements and extended warranties are recorded as a current or non-current deferred revenue liability based on the time from the Consolidated Balance Sheet date to the future date of revenue recognition. Research and Development The Company expenses research and development costs as incurred.
Operating Leases	Operating Leases Effective April 1, 2020, the Company adopted Accounting Standard Update (“ASU”) No. 2018-11, Leases (Topic 842) Targeted Improvements The Company’s leases typically contain rent escalations over the lease term. The Company recognizes rent expense for these leases on a straight-line basis over the lease term. Additionally, tenant incentives used to fund leasehold improvements are recognized when received and reduce the Company’s right-of-use (“ROU”) asset related to the lease. These are amortized through the ROU asset as reductions of expense over the lease term. The Company’s office/manufacturing/warehouse/laboratory lease agreement does not contain any material residual value guarantees or material restrictive covenants. Related to the adoption of Topic 842, the Company’s policy elections were as follows: ● The Company has used the practical expedients under U.S. GAAP which allow it to not reassess whether any expired or existing contracts are considered a lease, along with grandfathering lease classifications, and treatment of indirect costs; ● The Company has elected to exclude short-term leases having initial terms of 12 months or less; ● The Company has elected not to separate non-lease components from its leases to account for them separately; ● The Company has elected not to avail itself of the practical expedient of using hindsight to determine the lease term; and ● The Company has elected the alternative transition option, by recognizing a cumulative effect adjustment to the opening balance of accumulated deficit in the period of adoption (as of April 1, 2020, the adoption of Topic 842 did not have a material effect on retained earnings).
Property and Equipment, Net	Property and Equipment, Net Property and equipment are stated at cost and are presented net of accumulated depreciation. Depreciation is provided for on a straight-line basis over the estimated useful lives of the related assets as follows: SCHEDULE OF USEFUL LIVES OF PROPERTY AND EQUIPMENT Machinery and equipment 5 Computer equipment 3 Molds and tooling 5 Furniture and fixtures 5 Leasehold improvements are amortized on a straight-line basis over the shorter of the lease term or their estimated useful lives. The Company occasionally designs and builds its own machinery. The costs of these projects, which includes the cost of construction and other direct costs attributable to the construction, are capitalized as construction in progress. No provision for depreciation is made on construction in progress until the relevant assets are completed and placed in service. The Company’s policy is to evaluate the remaining lives and recoverability of long-term assets on at least an annual basis or when conditions are present that indicate impairment.
Intangible Assets, Net	Intangible Assets, Net Intangibles consist of patent-related costs and costs for license agreements. Management reviews the carrying value of intangible assets that are being amortized on an annual basis or sooner when there is evidence that events or changes in circumstances may indicate that impairment exists. The Company considers relevant cash flow and profitability information, including estimated future operating results, trends and other available information, in assessing whether the carrying value of intangible assets being amortized can be recovered. If the Company determines that the carrying value of intangible assets will not be recovered from the undiscounted future cash flows expected to result from the use and eventual disposition of the underlying assets, the Company considers the carrying value of such intangible assets as impaired and reduces them by a charge to operations in the amount of the impairment. Costs related to acquiring patents and licenses are capitalized and amortized over their estimated useful lives, which is generally 5 17 The carrying value of the patents of approximately $ 159,000 169,000 December 31, 2020 320,000 303,000 December 31, 2020 17,000 10,000 19,000 18,000 15,000 14,000 79,000 The carrying value of the licenses of approximately $ 12,000 19,000 December 31, 2020 407,000 400,000 December 31, 2020 7,000 5,000 7,000 5,000
Derivative Financial Instruments and Warrant Liabilities	Derivative Financial Instruments and Warrant Liabilities The Company does not use derivative instruments to hedge exposures to cash flow, market, or foreign currency risks. The Company evaluates all of its financial instruments, including issued stock purchase warrants, to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the Consolidated Statements of Operations. Depending on the features of the derivative financial instrument, the Company uses either the Black-Scholes option-pricing model or a Monte-Carlo simulation to value the derivative instruments at inception and subsequent valuation dates. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is re-assessed at the end of each reporting period (See Note 7).
Fair value measurements	Fair value measurements The Company determines the fair value measurements of applicable assets and liabilities based on a three-tier fair value hierarchy established by accounting guidance and prioritizes the inputs used in measuring fair value. The Company discloses and recognizes the fair value of its assets and liabilities using a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to valuations based upon unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to valuations based upon unobservable inputs that are significant to the valuation (Level 3 measurements). The guidance establishes three levels of the fair value hierarchy as follows: ● Level 1 - Inputs that reflect unadjusted quoted prices in active markets for identical assets or liabilities that we have the ability to access at the measurement date; ● Level 2 - Inputs other than quoted prices that are observable for the assets or liabilities either directly or indirectly, including inputs in markets that are not considered to be active; and ● Level 3 - Inputs that are unobservable.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Cash, accounts receivable, accounts payable, accrued liabilities, and debt are carried at amortized cost, which management believes approximates fair value due to the short-term nature of these instruments.
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation cost for equity awards granted to employees and non-employees is measured at the grant date based on the calculated fair value of the award using the Black-Scholes option-pricing model, and is recognized as an expense, under the straight-line method, over the requisite service period (generally the vesting period of the equity grant). If the Company determines that other methods are more reasonable, or other methods for calculating these assumptions are prescribed by regulators, the fair value calculated for the Company’s stock options could change significantly. Higher volatility, lower risk free interest rates, and longer expected lives would result in an increase to stock-based compensation expense to employees and non-employees determined at the date of grant.
Income Taxes	Income Taxes Deferred income taxes are recognized for temporary differences in the basis of assets and liabilities for financial statement and income tax reporting that arise due to net operating loss carry forwards, research and development credit carry forwards and from using different methods and periods to calculate depreciation and amortization, allowance for doubtful accounts, accrued vacation, research and development expenses, and state taxes. A provision has been made for income taxes due on taxable income and for the deferred taxes on the temporary differences. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. Realization of the deferred income tax asset is dependent on generating sufficient taxable income in future years.
Sales and Excise Taxes	Sales and Excise Taxes Sales and other taxes collected from customers and subsequently remitted to government authorities are recorded as accounts receivable with corresponding tax payable. These balances are removed from the balance Consolidated Balance Sheet as cash is collected from customers and remitted to the tax authority.
Warranty Costs	Warranty Costs The Company’s warranty policy generally provides for one year of coverage against defects and nonperformance within published specifications for sold analyzers and for the term of the contract for equipment held for lease. The Company accrues for estimated warranty costs in the period in which the revenue is recognized based on historical data and the Company’s best estimates of analyzer failure rates and costs to repair. Accrued warranty liabilities were approximately $ 60,000 25,000 December 31, 2020 57,000 54,000 December 31, 2020
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2021, the FASB issued ASU No. 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)” In August 2020, the FASB issued ASU No. 2020-06, “ Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity The Company early adopted ASU No. 2020-06 on January 1, 2021. In August 2018, the FASB issued ASU No. 2018-13, “ Fair Value Measurement (Topic 820): Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement, In July 2018, the FASB issued ASU No. 2018-11, Leases (Topic 842) Targeted Improvements In June 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments Financial Instruments – Credit Losses (Topic 326), Derivatives and Hedging (Topic 815) Leases (Topic 842)
Impact of the COVID-19 Pandemic	Impact of the COVID-19 Pandemic Events surrounding the SARS-CoV-2 virus that emerged in late 2019 and the ensuing global pandemic has had a dramatic impact on businesses globally and our business as well. The severity and duration of the pandemic and economic repercussions of the virus and government actions taken in response to the pandemic remain uncertain and will ultimately depend on many factors, including the speed of global dissemination and effectiveness of the vaccination and containment efforts throughout the world, the duration and spread of the virus, as well as seasonality, variants or new outbreaks. In the United States, federal, state, and local government directives and policies have been put in place to manage public health concerns and address the economic impacts, including reduced business activity and overall uncertainty presented by this new healthcare challenge. Similar actions have been taken by governments around the world. Our facilities could be required to temporarily curtail production levels or temporarily cease operations based on government mandates or as a result of the pandemic. To mitigate risks, we continue to evaluate the extent to which COVID-19 may impact our business and operations and adjust risk mitigation planning and business continuity activities as needed. Other accounting standard updates are either not applicable to the Company or are not expected to have a material impact on the Company’s consolidated financial statements.

ORGANIZATION AND SUMMARY OF S_3

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ESTIMATES (Tables)	12 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SCHEDULE OF ACCOUNTS RECEIVABLE	Accounts receivable is comprised of the following at: SCHEDULE OF ACCOUNTS RECEIVABLE December 31, 2021 December 31, 2020 Accounts Receivable $ 958,448 $ 629,630 Less Allowances (136,097 ) (13,873 ) Accounts receivable, net $ 822,351 $ 615,757
SCHEDULE OF USEFUL LIVES OF PROPERTY AND EQUIPMENT	Property and equipment are stated at cost and are presented net of accumulated depreciation. Depreciation is provided for on a straight-line basis over the estimated useful lives of the related assets as follows: SCHEDULE OF USEFUL LIVES OF PROPERTY AND EQUIPMENT Machinery and equipment 5 Computer equipment 3 Molds and tooling 5 Furniture and fixtures 5

INVENTORY, NET (Tables)

INVENTORY, NET (Tables)	12 Months Ended
	Dec. 31, 2021
Inventory Disclosure [Abstract]
SCHEDULE OF INVENTORY	Inventory, net consisted of the following at December 31, 2021 and December 31, 2020 SCHEDULE OF INVENTORY December 31, 2021 December 31, 2020 Raw materials $ 823,315 $ 579,765 Work in process 188,135 309,826 Finished goods 44,428 63,867 Total inventory $ 1,055,878 $ 953,458

PREPAID EXPENSES (Tables)

PREPAID EXPENSES (Tables)	12 Months Ended
	Dec. 31, 2021
Prepaid Expenses
SCHEDULE OF PREPAID EXPENSES	Prepaid expenses consisted of the following at December 31, 2021 and December 31, 2020 SCHEDULE OF PREPAID EXPENSES December 31, 2021 December 31, 2020 Prepaid insurance $ 1,197,726 $ 1,307,864 Prepaid manufacturing expenses 67,410 1,181,029 Prepaid investor relations expenses — 150,000 Other prepaid expenses 114,760 40,001 Prepaid expenses $ 1,379,896 $ 2,678,894

PROPERTY AND EQUIPMENT, NET (Ta

PROPERTY AND EQUIPMENT, NET (Tables)	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
SCHEDULE OF PROPERTY AND EQUIPMENT	Property and equipment, net consisted of the following at December 31, 2021 and December 31, 2020 SCHEDULE OF PROPERTY AND EQUIPMENT December 31, 2021 December 31, 2020 Machinery and equipment $ 2,482,841 $ 2,401,470 Construction in progress–equipment — 104,400 Computer equipment 345,117 443,865 Leasehold improvements 333,271 321,033 Molds and tooling 260,002 260,002 Furniture and fixtures 143,013 138,699 3,564,244 3,669,469 Less Accumulated depreciation (3,360,324 ) (3,422,146 ) $ 203,920 $ 247,323

ACCRUED EXPENSES AND OTHER CU_2

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2021
Payables and Accruals [Abstract]
SCHEDULE OF ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	Accrued expenses and other current liabilities consisted of the following at December 31, 2021 and December 31, 2020 SCHEDULE OF ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES December 31, 2021 December 31, 2020 Board compensation $ 17,500 $ 15,091 Franchise, sales and use taxes 14,090 30,353 Income taxes 3,620 3,326 Patent and license fees — 7,204 Payroll 682,036 4,566 Professional fees 225,308 58,261 Research and development 232,712 237,504 Royalties 10,152 491 Vacation 282,910 230,457 Warranty liability 60,281 24,871 Other 265,292 134,614 Accrued liabilities $ 1,793,901 $ 746,738

WARRANT LIABILITIES (Tables)

WARRANT LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2021
Warrant Liabilities
SCHEDULE OF WARRANTS ACTIVITY	The following table summarizes the activity in the Common Stock Warrants received in exchange for the Series C Warrants for the year ended December 31, 2021: SCHEDULE OF WARRANTS ACTIVITY Common Stock Warrants (received in exchange for the Series C Warrants) Shares Weighted– Average Exercise Price Range of Exercise Price Weighted– Average Remaining Life (Years) Total outstanding – December 31, 2020 3,378,596 $ 0.72 Series C preferred stock warrants exchanged for common stock warrants upon reverse recapitalization — — Exercised (807,311 ) 0.72 Forfeited (89,671 ) 0.72 Expired — — Granted — — Total outstanding – December 31, 2021 2,481,614 $ 0.72 Exercisable 2,481,614 $ 0.72 $ 0.72 2.00 Non-Exercisable — $ — $ — —
SCHEDULE OF FAIR VALUE HIERARCHY FOR WARRANT LIABILITIES	The following table presents the Company’s fair value hierarchy for its Common Stock Warrant liabilities (all of which arise under the warrants received in exchange for the Series C Warrants) measured at fair value on a recurring basis as of December 31, 2021: SCHEDULE OF FAIR VALUE HIERARCHY FOR WARRANT LIABILITIES Quoted Market Significant Prices for Other Significant Identical Observable Unobservable Assets Inputs Inputs Common Stock Warrant liabilities (Level 1) (Level 2) (Level 3) Total Balance as of December 31, 2020 $ — $ — $ 8,310,100 $ 8,310,100 Exercises — — (1,900,713 ) (1,900,713 ) Gain on change in fair value of warrant liabilities — — (4,723,187 ) (4,723,187 ) Balance as of December 31, 2021 $ — $ — $ 1,686,200 $ 1,686,200
SCHEDULE OF ASSUMPTIONS OF WARRANT LIABILITIES	The following are the weighted average and the range of assumptions used in estimating the fair value of warrant liabilities (weighted average calculated based on the number of outstanding warrants on each issuance) as of December 31, 2021: SCHEDULE OF ASSUMPTIONS OF WARRANT LIABILITIES December 31, 2021 Range Weighted Risk-free interest rate 0.69 0.84 % 0.72 % Expected volatility (peer group) 84 87 % 84.6 % Term of warrants (in years) 1.9 2.5 2.01 Expected dividend yield 0.00 % 0.00 %

EARNINGS (LOSS) PER SHARE (Tabl

EARNINGS (LOSS) PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
SCHEDULE OF EARNINGS PER SHARE BASIC AND DILUTED	The following table reconciles net loss and the weighted-average shares used in computing basic and diluted EPS in the respective periods: SCHEDULE OF EARNINGS PER SHARE BASIC AND DILUTED For the Year Ended December 31, For the Nine Months Ended December 31, 2021 2020 Net loss used for basic earnings per share $ (17,897,137 ) $ (19,546,366 ) Basic weighted-average common shares outstanding 29,334,865 17,431,714 Dilutive potential shares issuable from stock options and warrants — — Diluted weighted-average common shares outstanding 29,334,865 17,431,714

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
SCHEDULE OF OPERATING LEASE RIGHT OF USE ASSETS AND OPERATING LEASE LIABILITIES	SCHEDULE OF OPERATING LEASE RIGHT OF USE ASSETS AND OPERATING LEASE LIABILITIES Operating lease right-of-use assets Net right-of-use assets at December 31, 2020 $ 430,795 Additional operating lease right-of-use assets at December 31, 2021 1,439,830 Less amortization of operating lease right-of-use assets (225,057 ) Operating lease right-of-use assets at December 31, 2021 $ 1,645,568 Operating lease liabilities Lease liabilities arising from obtaining right-of-use assets at April 1, 2020: $ 491,565 Additional operating lease liabilities at December 31, 2021 1,439,830 Less principal payments on operating lease liabilities (254,740 ) Lease liabilities at December 31, 2021 1,676,655 Less non-current portion (1,542,564 ) Current portion at December 31, 2021 $ 134,091
SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES	As of December 31, 2021, the maturities of operating lease liabilities are as follows: SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES Year Ending December 31, Amount 2022 $ 277,192 2023 368,341 2024 379,392 2025 390,773 2026 402,497 2027 379,165 Total 2,197,360 Less present value discount (520,705 ) Operating lease liabilities $ 1,676,655

STOCKHOLDERS_ EQUITY (Tables)

STOCKHOLDERS’ EQUITY (Tables)	12 Months Ended
	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
SCHEDULE OF RESERVED SHARES	SCHEDULE OF RESERVED SHARES Exercise of issued and future grants of stock options 4,841,856 Exercise of stock warrants 9,821,395 Total 14,663,251
SCHEDULE OF STOCK OPTION ACTIVITY	The following represents a summary of the options granted to employees and non-employee service providers that were outstanding at December 31, 2021 , and changes during the twelve months then ended: SCHEDULE OF STOCK OPTION ACTIVITY Shares Weighted– Average Exercise Price Range of Exercise Price Weighted– Average Remaining Life (Years) Total outstanding – December 31, 2020 4,011,356 $ 7.05 $ 3.52 1,465.75 9.29 Legacy Ritter options 95,124 92.80 $ 5.75 1,465.75 1.39 Granted 835,000 1.37 $ 1.24 3.29 9.79 Expired — — — Forfeited (4,500 ) 3.68 $ 3.52 4.97 Total outstanding – December 31, 2021 4,841,856 $ 6.07 $ 1.24 1,465.75 8.52 Exercisable (vested) 1,408,195 $ 10.88 $ 3.52 1,465.75 7.94 Non-Exercisable (non-vested) 3,433,661 $ 4.10 $ 1.24 5.13 8.81 The following represents a summary of the options granted (under the 2020 Plan and otherwise) to employees and non-employee service providers that were outstanding at December 30, 2020, and changes during the nine-month period then ended: Shares Weighted– Average Exercise Price Range of Exercise Price Weighted– Average Remaining Life (Years) Total outstanding – March 31, 2020 — $ — $ — Legacy Ritter options 95,124 92.80 $ 5.75 1,465.75 1.39 Granted 3,917,500 4.97 $ 3.52 5.13 9.46 Expired (1,268) 35 $ 15.00 562.50 Forfeited — — Total outstanding – December 31, 2020 4,011,356 $ 7.05 $ 3.52 1,465.75 9.29 Exercisable (vested) 108,856 $ 81.38 $ 3.52 1,465.75 2.50 Non-Exercisable (non-vested) 3,902,500 $ 4.97 $ 3.52 5.13 9.47
SCHEDULE OF ASSUMPTIONS USED IN BLACK-SCHOLES OPTION-PRICING METHOD	The material factors incorporated in the Black-Scholes model in estimating the fair value of the options granted for the periods presented were as follows: SCHEDULE OF ASSUMPTIONS USED IN BLACK-SCHOLES OPTION-PRICING METHOD For the Year Ended December 31, 2021 Expected dividend yield 0.00 % Expected stock-price volatility 102 % Risk-free interest rate 0.84 1.51 % Expected average term of options (in years) 6.27 Stock price 1.24 3.29
SCHEDULE OF SHARE-BASED COMPENSATION EXPENSE	The Company recorded stock-based compensation expense and classified it in the Consolidated Statements of Operations as follows: SCHEDULE OF SHARE-BASED COMPENSATION EXPENSE For the Year Ended December 31, 2021 For the Nine Months Ended December 31, 2020 General and administrative $ 4,465,911 $ 2,388,380 Research and development 827,740 412,471 Total $ 5,293,651 $ 2,800,851
SCHEDULE OF WARRANT ACTIVITY	The following table summarizes the noncompensatory equity classified warrant activity for the year ended December 31, 2021: SCHEDULE OF WARRANT ACTIVITY Common Stock Shares Weighted– Average Exercise Price Range of Exercise Price Weighted– Average Remaining Life (Years) Total outstanding – December 31, 2020 6,549,777 $ 4.36 Legacy Ritter warrants — — Granted — — Exercised (1,000,000 ) 0.01 Expired (640 ) 2,325 Forfeited — — Total outstanding – December 31, 2021 5,549,137 2.01 Exercisable 5,549,137 2.01 1.11 3.77 1.32 Non-Exercisable — $ — $ — — The following table summarizes the noncompensatory equity classified warrant activity for the nine months ended December 31, 2020: Common Stock Shares Weighted– Average Exercise Price Range of Exercise Price Weighted– Average Remaining Life (Years) Total outstanding – March 31, 2020 — $ — Legacy Ritter warrants 81,455 21.94 Granted 7,450,193 4.18 Exercised (980,198 ) 1.11 Expired (1,673 ) 1,562.50 Forfeited — — Total outstanding – December 31, 2020 6,549,777 4.36 Exercisable 5,707,081 4.40 0.01 2,325.00 1.43 Non-Exercisable 842,696 $ 4.07 $ 4.07 $ 3.00
Compensatory Warrant Activity [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
SCHEDULE OF WARRANT ACTIVITY	The following table summarizes the equity classified compensatory warrant activity for the year ended December 31, 2021: SCHEDULE OF WARRANT ACTIVITY Common Stock Shares Weighted– Average Exercise Price Range of Exercise Price Weighted– Average Remaining Life (Years) Total outstanding – December 31, 2020 1,294,217 $ 1.67 Series C preferred stock compensatory warrants exchanged for common stock warrants upon reverse recapitalization 668,024 2.25 Legacy Ritter warrants — — Granted to advisor and its designees 600,000 1.32 Exercised (38,390 ) 2.09 Expired — — Forfeited (65,179 ) 2.07 Total outstanding – December 31, 2021 1,790,648 1.52 1.11 2.54 2.64 Exercisable 1,790,648 1.52 1.11 2.54 2.64 Non-Exercisable — $ — $ — — The following table summarizes the compensatory warrant activity for nine months ended December 31, 2020 Common Stock Shares Weighted– Average Exercise Price Range of Exercise Price Weighted– Average Remaining Life (Years) Total outstanding – March 31, 2020 — $ — Series C preferred stock compensatory warrants exchanged for common stock warrants upon reverse recapitalization 668,024 2.25 Granted to advisor and its designees 811,431 1.11 Exercised (159,978 ) 1.26 Expired — — Forfeited (25,260 ) 2.07 Total outstanding – December 31, 2020 1,294,217 $ 1.6670 Exercisable 1,290,621 $ 1.66 $ 1.11 2.54 4.17 Non-Exercisable 3,596 $ 2.54 $ 2.54 5.72

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
SCHEDULE OF RECONCILIATION OF STATUTORY INCOME TAX RATE	A reconciliation of the statutory income tax rates and the Company’s effective tax rate is as follows: SCHEDULE OF RECONCILIATION OF STATUTORY INCOME TAX RATE December 31, 2021 December 31, 2020 Statutory federal income tax rate 21.00 % 21.0 % State taxes, net of federal tax benefit 6.63 % 2.5 % Non-deductible expenses (1.19 )% (0.5 )% NOL Expiration (2.71 )% 0.0 % Tax Credit 0.86 % (2.8 )% Change in fair value of warrant liability 5.54 % (8.9 )% True-up (2.72 )% (1.1 )% Change in valuation allowance (27.44 )% (10.3 )% Income taxes provision (0.03 )% (0.1 )%
SCHEDULE OF PROVISION FOR INCOME TAXES	Income tax expense for the year ended December 31, 2021 and nine months ended December 31, 2020 SCHEDULE OF PROVISION FOR INCOME TAXES December 31, 2021 December 31, 2020 Current Federal $ — $ — State 5,000 1,000 Total current provision 5,000 1,000 Deferred Federal (1,268,000 ) (1,634,000 ) State (3,641,000 ) (384,000 ) Total deferred benefit (4,909,000 ) (2,018,000 ) Change in valuation allowance 4,909,000 2,017,000 Total provision for income taxes $ 5,000 $ —
SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES	The components of deferred tax assets and liabilities are as follows: SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES December 31, 2021 December 31, 2020 Deferred tax assets: Net operating loss $ 33,362,000 $ 28,914,000 Research and development credits 6,185,000 5,464,000 Accrued expenses 757,000 292,000 Patent 262,000 422,000 Impairment loss — 361,000 Stock compensation 2,747,000 2,654,000 Other — 84,000 Fixed assets 282,000 44,000 Total deferred income tax assets 43,595,000 38,235,000 Deferred tax liabilities: Intangible assets (34,000 ) (18,000 ) Right-of-use asset (436,000 ) — Total deferred income tax liabilities (470,000 ) (18,000 ) Net deferred income tax assets 43,125,000 38,217,000 Valuation allowance (43,125,000 ) (38,217,000 ) Deferred tax asset, net of allowance $ — $ —

TRANSITION PERIOD COMPARATIVE_2

TRANSITION PERIOD COMPARATIVE DATA (Tables)	12 Months Ended
	Dec. 31, 2021
Transition Period Comparative Data
TRANSITION PERIOD COMPARATIVE DATA	The following table presents certain comparative transition period financial information for the year ended December 31, 2021 and the twelve months ended December 31, 2020, respectively TRANSITION PERIOD COMPARATIVE DATA For the Twelve Months Ended December 31, 2021 For the Twelve Months Ended December 31, 2020 (unaudited) Revenues $ 5,653,725 $ 4,306,316 Gross profit on product sales $ 689,236 $ 629,517 Net loss before income taxes $ (17,891,710 ) $ (20,419,561 ) Net loss $ (17,897,137 ) $ (20,421,979 ) Net loss per share – basic and fully diluted $ (0.61 ) $ (1.17 ) Weighted average shares used in computing basic and diluted net loss per share 29,334,865 17,431,714

QUARTERLY FINANCIAL DATA (UNA_2

QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2021
Quarterly Financial Information Disclosure [Abstract]
SCHEDULE OF ERROR CORRECTIONS AND PRIOR PERIOD ADJUSTMENTS	SCHEDULE OF ERROR CORRECTIONS AND PRIOR PERIOD ADJUSTMENTS For the Quarter As reported Corrected Gain on change in fair value of warrant liabilities $ (2,122,900 ) $ (552,808 ) Net loss $ (3,672,627 ) $ (5,242,719 ) Net loss per common share $ (0.13 ) $ (0.19 ) For the Quarter For the Six Months As reported Corrected As reported Corrected Gain on change in fair value of warrant liabilities $ (2,075,100 ) $ (1,982,256 ) $ (4,198,000 ) $ (2,535,064 ) Net loss $ (5,305,233 ) $ (5,398,077 ) $ (8,977,860 ) $ (10,640,796 ) Net loss per common share $ (0.18 ) $ (0.19 ) $ (0.31 ) $ (0.37 ) For the Quarter For the Nine Months As reported Corrected As reported Corrected Gain on change in fair value of warrant liabilities $ (1,942,900 ) $ (1,763,936 ) $ (6,140,900 ) $ (4,299,000 ) Net loss $ (2,858,518 ) $ (3,037,482 ) $ (11,836,378 ) $ (13,678,278 ) Net loss per common share $ (0.10 ) $ (0.10 ) $ (0.41 ) $ (0.48 )

SCHEDULE OF ACCOUNTS RECEIVABLE

SCHEDULE OF ACCOUNTS RECEIVABLE (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounts Receivable	$ 958,448	$ 629,630
Less Allowances	(136,097)	(13,873)
Accounts receivable, net	$ 822,351	$ 615,757

SCHEDULE OF USEFUL LIVES OF PRO

SCHEDULE OF USEFUL LIVES OF PROPERTY AND EQUIPMENT (Details)	12 Months Ended
	Dec. 31, 2021
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	3 years
Molds and Tooling [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years

ORGANIZATION AND SUMMARY OF S_4

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ESTIMATES (Details Narrative) - USD ($)	9 Months Ended	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Impairment losses on construction-in-progress	$ 1,400,000	$ 0
Other shipping and handling costs	84,000	113,000
Revenue from Contract with Customer, Excluding Assessed Tax	2,849,561	5,653,725	$ 4,306,316
Allowance for estimated returns	18,300	150,000
Amortization of intangible assets	10,000	17,000
Accrued warranty liabilities	24,871	60,281	24,871
Accrued warranty liabilities	746,738	1,793,901	746,738
Warranty costs	54,000	57,000
Warrant [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Accrued warranty liabilities		60,000
Accrued warranty liabilities	25,000		25,000
Patents [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Carrying value	169,000	159,000	169,000
Accumulated amortization	303,000	320,000	303,000
Future estimated amortization, December 31, 2022		19,000
Future estimated amortization, December 31, 2023		18,000
Future estimated amortization, December 31, 2024		15,000
Future estimated amortization, December 31, 2024 and 2025		14,000
Future estimated amortization, Thereafter		79,000
License [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Carrying value	19,000	12,000	19,000
Accumulated amortization	400,000	407,000	$ 400,000
Amortization of intangible assets	5,000	7,000
Future estimated amortization, December 31, 2022		7,000
Future estimated amortization, December 31, 2023		$ 5,000
Minimum [Member] | Patents and Licenses [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Estimated useful lives		5 years
Maximum [Member] | Patents and Licenses [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Estimated useful lives		17 years
License Revenue [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		$ 632,004
General Administrative Research and Development Expenses [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Other shipping and handling costs	$ 9,000	$ 12,000

LIQUIDITY (Details Narrative)

LIQUIDITY (Details Narrative) - USD ($) $ in Thousands	1 Months Ended				12 Months Ended
	Dec. 31, 2020	Aug. 31, 2020	Jul. 31, 2020	May 31, 2020	Dec. 31, 2021
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Converted notes payable, amount				$ 1,900
Investor [Member] | Securities Purchase Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Proceeds from sale of equity	$ 30,000	$ 30,000	$ 30,000		$ 8,820
Ritter Pharmaceuticals Inc [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Proceeds from sale of equity				$ 4,000

SCHEDULE OF INVENTORY (Details)

SCHEDULE OF INVENTORY (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 823,315	$ 579,765
Work in process	188,135	309,826
Finished goods	44,428	63,867
Total inventory	$ 1,055,878	$ 953,458

SCHEDULE OF PREPAID EXPENSES (D

SCHEDULE OF PREPAID EXPENSES (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Prepaid Expenses
Prepaid insurance	$ 1,197,726	$ 1,307,864
Prepaid manufacturing expenses	67,410	1,181,029
Prepaid investor relations expenses		150,000
Other prepaid expenses	114,760	40,001
Prepaid expenses	$ 1,379,896	$ 2,678,894

SCHEDULE OF PROPERTY AND EQUIPM

SCHEDULE OF PROPERTY AND EQUIPMENT (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 3,564,244	$ 3,669,469
Less Accumulated depreciation	(3,360,324)	(3,422,146)
Property and equipment, net	203,920	247,323
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	2,482,841	2,401,470
Construction In Progress Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross		104,400
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	345,117	443,865
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	333,271	321,033
Molds and Tooling [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	260,002	260,002
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 143,013	$ 138,699

PROPERTY AND EQUIPMENT, NET (De

PROPERTY AND EQUIPMENT, NET (Details Narrative) - USD ($)	9 Months Ended	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 33,000	$ 73,000

SCHEDULE OF ACCRUED EXPENSES AN

SCHEDULE OF ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Board compensation	$ 17,500	$ 15,091
Franchise, sales and use taxes	14,090	30,353
Income taxes	3,620	3,326
Patent and license fees		7,204
Payroll	682,036	4,566
Professional fees	225,308	58,261
Research and development	232,712	237,504
Royalties	10,152	491
Vacation	282,910	230,457
Warranty liability	60,281	24,871
Other	265,292	134,614
Accrued liabilities	$ 1,793,901	$ 746,738

SCHEDULE OF WARRANTS ACTIVITY (

SCHEDULE OF WARRANTS ACTIVITY (Details) - Series C Warrants [Member] - Common Stock Warrants [Member]	12 Months Ended
	Dec. 31, 2021$ / sharesshares
Number of Shares, Warrants Outstanding Beginning | shares	3,378,596
Weighted Average Exercise Price Per Share Warrants Outstanding Beginning	$ 0.72
Common stock warrants reverse recapitalization, shares | shares
Weighted Average common stock warrants reverse recapitalization
Number of Shares, Warrants Exercised | shares	(807,311)
Weighted Average Exercise Price Per Share Warrants Exercised	$ 0.72
Number of Shares, Warrants Forfeited | shares	(89,671)
Weighted Average Exercise Price Per Share Warrants Forfeited	$ 0.72
Number of Shares, Warrants Expired | shares
Weighted Average Exercise Price Per Share Warrants Expired
Number of Shares, Warrants Granted | shares
Weighted Average Exercise Price Per Share Warrants Granted
Number of Shares, Warrants Outstanding Ending | shares	2,481,614
Weighted Average Exercise Price Per Share Warrants Outstanding Ending	$ 0.72
Number of Shares, Warrants Exercisable | shares	2,481,614
Weighted Average Exercise Price Per Share Exercisable	$ 0.72
Range of Exercise Price, Exercisable	$ 0.72
[custom:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingExercisableWeightedAveragRemainingContractualTerm1]	2 years
Number of Shares, Warrants Non Exercisable | shares
Weighted Average Exercise Price Per Share Non Exercisable
Range of Exercise Price, Non Exercisable
[custom:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNonExercisableWeightedAverageRemainingContractualTerm1]

SCHEDULE OF FAIR VALUE HIERARCH

SCHEDULE OF FAIR VALUE HIERARCHY FOR WARRANT LIABILITIES (Details) - USD ($)	9 Months Ended	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Fair value for warrant liabilities		$ 8,310,100
Common Stock Warrant liabilities, Exercises		1,900,713
[custom:FairValueOfWarrantLiabilitiesOnDateOfExercise]		(1,900,713)
Change in fair value of warrant liabilities		(4,723,187)
Fair value for warrant liabilities	8,310,100	1,686,200
Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value for warrant liabilities
Change in fair value of warrant liabilities
Fair value for warrant liabilities
Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value for warrant liabilities
Change in fair value of warrant liabilities
Fair value for warrant liabilities
Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value for warrant liabilities		8,310,100
Common Stock Warrant liabilities, Exercises		(1,900,713)
[custom:FairValueOfWarrantLiabilitiesOnDateOfExercise]		1,900,713
Change in fair value of warrant liabilities		(4,723,187)
Fair value for warrant liabilities	$ 8,310,100	$ 1,686,200

SCHEDULE OF ASSUMPTIONS OF WARR

SCHEDULE OF ASSUMPTIONS OF WARRANT LIABILITIES (Details)	Dec. 31, 2021
Measurement Input, Expected Dividend Rate [Member]
Fair value assumptions, measurement input, percentages	0
Minimum [Member] | Measurement Input, Risk Free Interest Rate [Member]
Fair value assumptions, measurement input, percentages	0.69
Minimum [Member] | Measurement Input, Price Volatility [Member]
Fair value assumptions, measurement input, percentages	84
Minimum [Member] | Measurement Input, Expected Term [Member]
Fair value assumptions, measurement input, term	1 year 10 months 24 days
Maximum [Member] | Measurement Input, Risk Free Interest Rate [Member]
Fair value assumptions, measurement input, percentages	0.84
Maximum [Member] | Measurement Input, Price Volatility [Member]
Fair value assumptions, measurement input, percentages	87
Maximum [Member] | Measurement Input, Expected Term [Member]
Fair value assumptions, measurement input, term	2 years 6 months
Weighted Average [Member] | Measurement Input, Risk Free Interest Rate [Member]
Fair value assumptions, measurement input, percentages	0.72
Weighted Average [Member] | Measurement Input, Price Volatility [Member]
Fair value assumptions, measurement input, percentages	84.6
Weighted Average [Member] | Measurement Input, Expected Term [Member]
Fair value assumptions, measurement input, term	2 years 3 days
Weighted Average [Member] | Measurement Input, Expected Dividend Rate [Member]
Fair value assumptions, measurement input, percentages	0

WARRANT LIABILITIES (Details Na

WARRANT LIABILITIES (Details Narrative) - Series C Warrants [Member]	Dec. 31, 2021$ / sharesshares
Number of securities called by Each warrant or right | shares	4,713,490
Class of warrant or right, exercise price of warrants or rights | $ / shares	$ 0.72
Minimum [Member]
Warrants and rights outstanding, term	1 year 10 months 24 days
Maximum [Member]
Warrants and rights outstanding, term	2 years 6 months

SCHEDULE OF EARNINGS PER SHARE

SCHEDULE OF EARNINGS PER SHARE BASIC AND DILUTED (Details) - $ / shares	9 Months Ended	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2021
Earnings Per Share [Abstract]
Net loss used for basic earnings per share	$ (19,546,366)	$ (17,897,137)
Basic weighted-average common shares outstanding	17,431,714	29,334,865
Dilutive potential shares issuable from stock options and warrants
Diluted weighted-average common shares outstanding	17,431,714	29,334,865

SCHEDULE OF OPERATING LEASE RIG

SCHEDULE OF OPERATING LEASE RIGHT OF USE ASSETS AND OPERATING LEASE LIABILITIES (Details) - USD ($)	9 Months Ended	12 Months Ended	21 Months Ended
	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2021
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Operating lease right-of-use assets		$ 430,795
Less amortization of operating lease right-of-use assets	$ (154,717)	(225,059)
Operating lease right-of-use assets	430,795	1,645,568	$ 1,645,568
Operating lease liabilities, ending balance		1,676,655	1,676,655
Less non-current portion	(236,826)	(1,542,564)	(1,542,564)
Current portion at December 31, 2021	254,739	134,091	134,091
Long term Operating Lease Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Operating lease right-of-use assets		430,795
Additional operating lease right of use assets		1,439,830
Less amortization of operating lease right-of-use assets		(225,057)
Operating lease right-of-use assets	430,795	1,645,568	1,645,568
Operating lease liabilities, beginning balance	$ 491,565		491,565
Additional operating lease liabilities			1,439,830
Less principal payments on operating lease liabilities			(254,740)
Operating lease liabilities, ending balance		1,676,655	1,676,655
Less non-current portion		(1,542,564)	(1,542,564)
Current portion at December 31, 2021		$ 134,091	$ 134,091

SCHEDULE OF MATURITIES OF OPERA

SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES (Details)	Dec. 31, 2021USD ($)
Commitments and Contingencies Disclosure [Abstract]
2022	$ 277,192
2023	368,341
2024	379,392
2025	390,773
2026	402,497
2027	379,165
Total	2,197,360
Less present value discount	(520,705)
Operating lease liabilities	$ 1,676,655

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details Narrative)	Dec. 15, 2021USD ($)ft²	Dec. 31, 2020USD ($)	Dec. 31, 2021USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Area of Land | ft²	22,624
Lessee, Operating Lease, Term of Contract	61 months
Lessee, Operating Lease, Description	November 1, 2022 to November 30, 2027
Payments for Rent	$ 1,950,710
[custom:TenantImprovementAllowance]	339,360
Weighted-average remaining lease term			5 years 9 months 18 days
Discount rate operating lease			8.80%
Lease expense		$ 259,000	$ 342,000
First Twelve Months [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payments for Rent	$ 335,966

RESEARCH AND LICENSE AGREEMEN_2

RESEARCH AND LICENSE AGREEMENTS (Details Narrative) - USD ($)	1 Months Ended								9 Months Ended	12 Months Ended
	Feb. 28, 2021	Nov. 30, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2019	Feb. 28, 2019	Dec. 31, 2018	Jun. 30, 2018	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Mar. 31, 2021
Research and development									$ 3,316,099	$ 11,716,718
License cost									160,000	60,000
Product sales									2,849,561	5,653,725	$ 4,306,316
License Revenue [Member]
Product sales										632,004
University of Louisville Research Foundation [Member]
Research and development									14,000	243,000
Prediction Biosciences SAS [Member] | Collaborative Research Revenue [Member]
Product sales									0	0
Sekisui Diagnostics, LLC [Member]
Product sales									1,600,000	3,500,000
Yi Xin Zhen Duan Jishu Ltd [Member]
Product sales										38,000
Deferred revenue									250,000		250,000	$ 420,000
Yi Xin Zhen Duan Jishu Ltd [Member] | License Revenue [Member]
Product sales										632,000
STA Pharmaceutical Co Ltd [Member]
Research and development									0	3,200,000
Upfront deposit									1,100,000		$ 1,100,000
License and Sponsored Research Agreements [Member] | University of Louisville Research Foundation [Member]
Proceeds from convertible debt			$ 50,000
Reimbursement of research expenses			805,000
Patent costs			$ 200,000
Agreement term payment, description			In addition, the Company agreed to pay ULRF (i) royalties, on patent-covered net sales associated with the commercialization of anti-nucleolin agent-conjugated nanoparticles, of 4% (on net sales up to a cumulative $250,000,000) or 5% (on net sales above a cumulative $250,000,000), until expiration of the last to expire of the licensed patents, (ii) 30% to 50% of any non-royalty sublicensee income received (50% for sublicenses granted in the first two years of the ULRF license agreement, 40% for sublicenses granted in the third or fourth years of the ULRF license agreement, and 30% for sublicenses granted in the fifth year of the ULRF license agreement or thereafter), (iii) reimbursements for ongoing costs associated with the preparation, filing, prosecution and maintenance of licensed patents, incurred prior to June 2018, and (iv) payments ranging from $100,000 to $5,000,000 upon the achievement of certain regulatory and commercial milestones
Regulatory marketing approval, expenses								$ 500,000
Cumulative sales				$ 5,000,000
Research and development									283,000	646,000
License cost									24,000	28,000
Licensed product net sale				500,000,000
License and Sponsored Research Agreements [Member] | University of Louisville Research Foundation [Member] | Licensed Product Sales [Member]
Regulatory marketing approval, expenses								5,000,000
Cumulative sales					$ 5,000,000
Regulatory marketing approval, expenses								500,000
License and Sponsored Research Agreements [Member] | University of Louisville Research Foundation [Member] | Phase 1 Clinical Trial [Member]
Milestone payment				50,000	50,000			100,000
License and Sponsored Research Agreements [Member] | University of Louisville Research Foundation [Member] | Phase 2 Clinical Trial [Member]
Milestone payment				100,000	100,000			200,000
License and Sponsored Research Agreements [Member] | University of Louisville Research Foundation [Member] | Phase 3 Clinical Trial [Member]
Milestone payment				150,000	150,000			350,000
License and Sponsored Research Agreements [Member] | University of Louisville Research Foundation [Member] | Regulatory Marketing Approval [Member]
Licensed product net sale				300,000
License and Sponsored Research Agreements [Member] | University of Louisville Research Foundation [Member] | Minimum [Member]
Milestone payment				50,000	50,000			100,000
Shortfall payments			$ 10,000	5,000
License and Sponsored Research Agreements [Member] | University of Louisville Research Foundation [Member] | Maximum [Member]
Milestone payment				5,000,000	5,000,000			5,000,000
Shortfall payments			$ 50,000	$ 50,000
Sponsored Research and License Agreement [Member]
Research and development									14,000	325,000
Minimum annual royalties									10,000	0
License cost									470,000	118,000
Sponsored Research and License Agreement [Member] | University of Louisville Research Foundation [Member]
Reimbursement of research expenses	$ 1,800,000				$ 693,000	$ 693,000
Agreement term payment, description				In addition, the Company has agreed to pay ULRF (i) royalties, on patent-covered net sales associated with the commercialization of QN-165 as a treatment for COVID-19, of 4% (on net sales up to a cumulative $250,000,000) or 5% (on net sales above a cumulative $250,000,000), until expiration of the licensed patents, and 2.5% (on net sales for any sales not covered by Licensed Patents), (ii) 30% to 50% of any non-royalty sublicensee income received (50% for sublicenses granted in the first two years of the ULRF license agreement, 40% for sublicenses granted in the third or fourth years of the ULRF license agreement, and 30% for sublicenses granted in the fifth year of the ULRF license agreement or thereafter), (iii) reimbursements for ongoing costs associated with the preparation, filing, prosecution and maintenance of licensed patents, incurred prior to June 2020, and (iv) payments ranging from $50,000 to $5,000,000 upon the achievement of certain regulatory and commercial milestones	In July 2020, the Company entered into an exclusive license agreement with ULRF for RAS interaction inhibitor drug candidates. Under the agreement, the Company will take over development, regulatory approval and commercialization of the candidates from ULRF and is responsible for maintenance of the related intellectual property portfolio. In return, ULRF received approximately $112,000 for an upfront license fee and reimbursement of prior patent costs. In addition, the Company has agreed to pay ULRF (i) royalties, on patent-covered net sales associated with the commercialization, of 4% (on net sales up to a cumulative $250,000,000) or 5% (on net sales above a cumulative $250,000,000), until expiration of the licensed patent, and 2.5% (on net sales for any sales not covered by Licensed Patents), (ii) 30% to 50% of any non-royalty sublicensee income received (50% for sublicenses granted in the first two years of the ULRF license agreement, 40% for sublicenses granted in the third or fourth years of the ULRF license agreement, and 30% for sublicenses granted in the fifth year of the ULRF license agreement or thereafter), (iii) reimbursements for ongoing costs associated with the preparation, filing, prosecution and maintenance of licensed patents, incurred prior to July 2020, and (iv) payments ranging from $50,000 to $5,000,000 upon the achievement of certain regulatory and commercial milestones
Regulatory marketing approval, expenses					$ 300,000
Cumulative sales								$ 500,000,000
Licensed product net sale					500,000,000
License Agreement [Member] | University of Louisville Research Foundation [Member]
Upfront license fee				$ 24,000
License Agreement [Member] | University of Louisville Research Foundation [Member] | Minimum [Member]
Upfront license fee					20,000
License Agreement [Member] | University of Louisville Research Foundation [Member] | Maximum [Member]
Research and development		$ 430,000		$ 250,000
Upfront license fee					$ 100,000
License Agreement [Member] | Advanced Cancer Therapeutics, LLC [Member]
Proceeds from convertible debt							$ 25,000
Cumulative sales							3,000,000
License cost									$ 285,000	$ 2,000
Licensed product net sale							$ 2,000,000
Agreement description							the Company entered into a license agreement with Advanced Cancer Therapeutics, LLC (“ACT”), granting the Company exclusive rights to develop and commercialize QN-165, an aptamer-based drug candidate. In return, ACT received
Milestone payment for cumulative marketing expenses							$ 100,000
License Agreement [Member] | Advanced Cancer Therapeutics, LLC [Member] | CE Mark [Member]
Cumulative sales							500,000
Licensed product net sale							3,000,000
Milestone method revenue recognized							$ 100,000

SCHEDULE OF RESERVED SHARES (De

SCHEDULE OF RESERVED SHARES (Details)	Dec. 31, 2021shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total	14,663,251
Equity Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total	4,841,856
Warrant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total	9,821,395

SCHEDULE OF STOCK OPTION ACTIVI

SCHEDULE OF STOCK OPTION ACTIVITY (Details) - Employees and Non-employee Service Provider [Member] - $ / shares	9 Months Ended	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2021
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Number of shares, options outstanding, beginning		4,011,356
Range of exercise price, options outstanding		$ 7.05
Weighted- average remaining contractual life (in Years), outstanding at ending	9 years 3 months 14 days	8 years 6 months 7 days
Number of shares, options legacy ritter	95,124
Weighted average exercise price, options legacy ritter	$ 92.80
Weighted- average remaining contractual life (in Years), option legacy ritter	1 year 4 months 20 days
Number of shares, options granted	3,917,500	835,000
Weighted average exercise price, options granted	$ 4.97	$ 1.37
Weighted- average remaining contractual life (in Years), options granted	9 years 5 months 15 days	9 years 9 months 14 days
Number of shares, options expired	(1,268)
Range of exercise price, options expired	$ 35
Number of shares, options forfeited		(4,500)
Weighted average exercise price, options forfeited		$ 3.68
Number of shares, options outstanding at ending	4,011,356	4,841,856
Range of exercise price, options outstanding	$ 7.05	$ 6.07
Number of shares, options exercisable (vested)	108,856	1,408,195
Range of exercise price, options exercisable (vested)	$ 81.38	$ 10.88
Weighted- average remaining contractual life (in Years), options exercisable (vested)	2 years 6 months	7 years 11 months 8 days
Number of shares, options non-exercisable (non-vested)	3,902,500	3,433,661
Weighted average exercise price, options non-exercisable (non-vested)	$ 4.97	$ 4.10
Weighted- average remaining contractual life (in Years), options Non-exercisable (non-vested)	9 years 5 months 19 days	8 years 9 months 21 days
Minimum [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Range of exercise price, options outstanding		$ 3.52
Range of exercise price, options legacy ritter	$ 5.75
Range of exercise price, options granted	3.52	1.24
Range of exercise price, options expired	15
Range of Exercise price, Options Forfeited		3.52
Range of exercise price, options outstanding	3.52	1.24
Range of exercise price, options exercisable (vested)	3.52	3.52
Range of exercise price, options non-exercisable (non-vested)	3.52	1.24
Maximum [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Range of exercise price, options outstanding		1,465.75
Range of exercise price, options legacy ritter	1,465.75
Range of exercise price, options granted	5.13	3.29
Range of exercise price, options expired	562.50
Range of Exercise price, Options Forfeited		4.97
Range of exercise price, options outstanding	1,465.75	1,465.75
Range of exercise price, options exercisable (vested)	1,465.75	1,465.75
Range of exercise price, options non-exercisable (non-vested)	$ 5.13	$ 5.13

SCHEDULE OF ASSUMPTIONS USED IN

SCHEDULE OF ASSUMPTIONS USED IN BLACK-SCHOLES OPTION-PRICING METHOD (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Expected dividend yield	0.00%
Expected stock-price volatility	102.00%
Risk-free interest rate, minimum	0.84%
Risk-free interest rate, maximum	1.51%
Expected average term of options (in years)	6 years 3 months 7 days
Share price		$ 4.07
Minimum [Member]
Share price	$ 1.24
Maximum [Member]
Share price	$ 3.29

SCHEDULE OF SHARE-BASED COMPENS

SCHEDULE OF SHARE-BASED COMPENSATION EXPENSE (Details) - USD ($)	9 Months Ended	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2021
Total	$ 2,800,851	$ 5,293,651
General and Administrative Expense [Member]
Total	2,388,380	4,465,911
Research and Development Expense [Member]
Total	$ 412,471	$ 827,740

SCHEDULE OF WARRANT ACTIVITY (D

SCHEDULE OF WARRANT ACTIVITY (Details) - $ / shares	9 Months Ended	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2021
Compensatory Warrant Activity [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Warrants Outstanding Beginning		1,294,217
Weighted Average Exercise Price Per Share Warrants Outstanding Beginning		$ 1.67
Number of shares, warrants series C preferred stock compensatory warrants exchanged for common stock warrants upon reverse recapitalization	668,024
Weighted average exercise price per share compensatory warrants series C preferred stock warrant exchanged for common stock warrant upon reverse recapitalization	$ 2.25
Number of shares, warrants granted	811,431	600,000
Weighted average exercise price per share warrants granted	$ 1.11	$ 1.32
Number of shares, warrants exercised	(159,978)	(38,390)
Weighted average exercise price per share warrants exercised	$ 1.26	$ 2.09
Number of shares, warrants expired
Weighted average exercise price per share warrants expired
Number of shares, warrants forfeited	(25,260)	(65,179)
Weighted average exercise price per share warrants forfeited	$ 2.07	$ 2.07
Number of Shares, Warrants Outstanding Ending	1,294,217	1,790,648
Weighted Average Exercise Price Per Share Warrants Outstanding Ending	$ 1.67	$ 1.52
Weighted average remaining life (Years), Outstanding		2 years 7 months 20 days
Number of shares, warrants exercisable	1,290,621	1,790,648
Weighted average exercise price per share exercisable		$ 1.52
Weighted average remaining life (Years) exercisable	4 years 2 months 1 day	2 years 7 months 20 days
Number of shares, warrants non-exercisable	3,596
Weighted average exercise price per share non-exercisable	$ 2.54
Exercisable non- vested per share	$ 2.54
Weighted average remaining life (Years) non-exercisable	5 years 8 months 19 days
Weighted average exercise price per share warrants outstanding ending	$ 1.6670
Number of Shares, Warrants Exercisable	1,290,621	1,790,648
Weighted average exercise price per share exercisable	$ 1.66
Number of shares, warrants non-exercisable	3,596
Weighted average exercise price per share non-exercisable	$ 2.54
Compensatory Warrant Activity [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of exercise price, outstanding		1.11
Exercisable vested per share	1.11	1.11
Compensatory Warrant Activity [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of exercise price, outstanding		2.54
Exercisable vested per share	$ 2.54	$ 2.54
Non Compensatory Warrant Activity [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Warrants Outstanding Beginning		6,549,777
Weighted Average Exercise Price Per Share Warrants Outstanding Beginning		$ 4.36
Share based compensation arrangement by share based payment award non option equity instruments legacy ritter	81,455
Share based compensation arrangement by share based payment award non option equity instruments legacy ritter weighted average exercise price	$ 21.94
Number of shares, warrants granted	7,450,193
Weighted average exercise price per share warrants granted	$ 4.18
Number of shares, warrants exercised	(980,198)	(1,000,000)
Weighted average exercise price per share warrants exercised	$ 1.11	$ 0.01
Number of shares, warrants expired	(1,673)	(640)
Weighted average exercise price per share warrants expired	$ 1,562.50	$ 2,325
Number of shares, warrants forfeited
Weighted average exercise price per share warrants forfeited
Number of Shares, Warrants Outstanding Ending	6,549,777	5,549,137
Weighted Average Exercise Price Per Share Warrants Outstanding Ending	$ 4.36	$ 2.01
Number of shares, warrants exercisable	5,707,081	5,549,137
Weighted average exercise price per share exercisable	$ 4.40	$ 2.01
Weighted average remaining life (Years) exercisable	1 year 5 months 4 days	1 year 3 months 25 days
Number of shares, warrants non-exercisable	842,696
Weighted average exercise price per share non-exercisable	$ 4.07
Exercisable non- vested per share	$ 4.07
Number of Shares, Warrants Exercisable	5,707,081	5,549,137
Number of shares, warrants non-exercisable	842,696
Weighted average exercise price per share non-exercisable	$ 4.07
Non exercisable weighted averag remaining contractual term1	3 years
Non Compensatory Warrant Activity [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercisable vested per share	$ 0.01	$ 1.11
Non Compensatory Warrant Activity [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercisable vested per share	$ 2,325	$ 3.77

STOCKHOLDERS_ EQUITY (Details N

STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($)	Dec. 01, 2021	Dec. 18, 2020	Aug. 04, 2020	Jul. 22, 2020	Jul. 10, 2020	Dec. 31, 2020	Aug. 31, 2020	Jul. 31, 2020	Dec. 31, 2020	Dec. 31, 2021	Nov. 29, 2021	Feb. 28, 2021	Dec. 30, 2020	Dec. 31, 2017
Class of Stock [Line Items]
Share price						$ 4.07			$ 4.07
Common stock, shares reserved for future issuance										14,663,251
Preferred Stock, Shares Outstanding						180			180	0
Share based compensation									$ 2,800,851	$ 5,293,651
Warrants, granted						2,191,000			2,191,000
Fair value of warrants										$ 2,300,000
2020 Plan [Member]
Class of Stock [Line Items]
Common stock, shares reserved for future issuance										3,500,000
Equity Option [Member]
Class of Stock [Line Items]
Common stock, shares reserved for future issuance										4,841,856
Share based compensation									$ 2,800,000	$ 5,300,000
Weighted averge term										1 year 6 months 29 days
Stock options exercised									0	0
Stock option granted exercise price									$ 4.97	$ 1.10
Equity Option [Member] | 2020 Stock Incentive Plan [Member]
Class of Stock [Line Items]
Common stock, shares reserved for future issuance						139,657			139,657	2,809,157
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number						3,917,500			3,917,500	4,748,000
Stock options description										The exercise price for an option issued under the 2020 Plan is determined by the Board of Directors, but will be (i) in the case of an incentive stock option (A) granted to an employee who, at the time of grant of such option, is a 10% stockholder, for no less than 110% of the fair market value per share on the date of grant; or (B) granted to any other employee, for no less than 100% of the fair market value per share on the date of grant; and (ii) in the case of a non-statutory stock option, for no less than 100% of the fair market value per share on the date of grant
Compensatory Warrants [Member]
Class of Stock [Line Items]
Proceeds from issuance of common stock										$ 300,000
Purchase of warrants						811,431			811,431	600,000				514,451
Warrant exercise price						$ 1.11			$ 1.11	$ 1.32				$ 2.30
Share based compensation									$ 0	$ 300,000
Proceeds from issuance or sale of equity									4,000,000
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount						$ 0			0
Series C Warrants [Member]
Class of Stock [Line Items]
Share based compensation									$ 0	$ 0
Noncompensatory Equity Classified Warrants [Member]
Class of Stock [Line Items]
Purchase of warrants						270,478		2,700,966	270,478	270,478	5,399,517
Warrant exercise price						$ 1.11		$ 5.25	$ 1.11	$ 1.11	$ 2
Investor [Member] | Noncompensatory Equity Classified Warrants [Member]
Class of Stock [Line Items]
Purchase of warrants						1,000,000	1,287,829		1,000,000			1,000,000
Warrant exercise price						$ 0.01	$ 6		$ 0.01			$ 0.01
Series Alpha Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Outstanding													180
Convertible preferred stock, shares						5,180			5,180	180
Shares issued during conversion, shares									7,004,983	243,416
Securities Purchase Agreement [Member]
Class of Stock [Line Items]
Share price	$ 1.50
Proceeds from issuance of common stock	$ 8,820,000
Beneficial ownership percentage		9.99%	9.99%		9.99%
Securities Purchase Agreement [Member] | Two-year Warrants [Member]
Class of Stock [Line Items]
Purchase of warrants		1,348,314	1,287,829		1,920,768
Warrant exercise price		$ 4.07	$ 6		$ 5.25
Securities Purchase Agreement [Member] | Common Stock [Member]
Class of Stock [Line Items]
Shares issued, shares		2,370,786	1,717,106		1,140,570
Securities Purchase Agreement [Member] | Pre-funded Warrants [Member]
Class of Stock [Line Items]
Purchase of warrants		1,000,000			780,198
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Exercised				780,198
Securities Purchase Agreement [Member] | Warrant [Member]
Class of Stock [Line Items]
Purchase of warrants		842,696
Warrant exercise price		$ 4.07
Securities Purchase Agreement [Member] | Single Institutional Investor [Member]
Class of Stock [Line Items]
Sale of stock		$ 12,000,000	$ 10,000,000		$ 8,000,000
Securities Purchase Agreement [Member] | Investor [Member]
Class of Stock [Line Items]
Proceeds from issuance or sale of equity						$ 30,000,000	$ 30,000,000	$ 30,000,000		$ 8,820,000
Securities Purchase Agreement [Member] | Common Stock [Member]
Class of Stock [Line Items]
Shares issued, shares	5,880,000
Unvested Stock Based Compensation Arrangements [Member] | Equity Option [Member]
Class of Stock [Line Items]
Share based compensation										$ 8,200,000

SCHEDULE OF RECONCILIATION OF S

SCHEDULE OF RECONCILIATION OF STATUTORY INCOME TAX RATE (Details)	9 Months Ended	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Statutory federal income tax rate	21.00%	21.00%
State taxes, net of federal tax benefit	2.50%	6.63%
Non-deductible expenses	(0.50%)	(1.19%)
NOL Expiration	0.00%	(2.71%)
Tax Credit	(2.80%)	0.86%
Change in fair value of warrant liability	(8.90%)	5.54%
True-up	(1.10%)	(2.72%)
Change in valuation allowance	(10.30%)	(27.44%)
Income taxes provision	(0.10%)	(0.03%)

SCHEDULE OF PROVISION FOR INCOM

SCHEDULE OF PROVISION FOR INCOME TAXES (Details) - USD ($)	9 Months Ended	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Federal
State	1,000	5,000
Total current provision	1,000	5,000
Federal	(1,634,000)	(1,268,000)
State	(384,000)	(3,641,000)
Total deferred benefit	(2,018,000)	(4,909,000)
Change in valuation allowance	2,017,000	4,909,000
Total provision for income taxes		$ 5,427

SCHEDULE OF DEFERRED TAX ASSETS

SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Net operating loss	$ 33,362,000	$ 28,914,000
Research and development credits	6,185,000	5,464,000
Accrued expenses	757,000	292,000
Patent	262,000	422,000
Impairment loss		361,000
Stock compensation	2,747,000	2,654,000
Other		84,000
Fixed assets	282,000	44,000
Total deferred income tax assets	43,595,000	38,235,000
Intangible assets	(34,000)	(18,000)
Right-of-use asset	(436,000)
Total deferred income tax liabilities	(470,000)	(18,000)
Net deferred income tax assets	43,125,000	38,217,000
Valuation allowance	(43,125,000)	(38,217,000)
Deferred tax asset, net of allowance

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Deferred Tax Assets, Operating Loss Carryforwards, State and Local	$ 126,225,000	$ 100,290,000
Research and development credit carryforwards	$ 4,508,000	1,677,000
Tax credit carryforward, limitations on use	The research and development credit carryforwards began to expire in 2020 for federal tax purposes and have an indefinite life for state tax purposes.
Unrecognized tax benefits	$ 0	$ 0
Uncertain tax positions	$ 0

TRANSITION PERIOD COMPARATIVE_3

TRANSITION PERIOD COMPARATIVE DATA (Details) - USD ($)	9 Months Ended	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Transition Period Comparative Data
Total revenues	$ 2,849,561	$ 5,653,725	$ 4,306,316
Gross profit on product sales		689,236	629,517
Net loss before income taxes	(19,546,366)	(17,891,710)	(20,419,561)
Net loss	$ (19,546,366)	$ (17,897,137)	$ (20,421,979)
Net loss per share – basic and fully diluted	$ (1.12)	$ (0.61)	$ (1.17)
Weighted average shares used in computing basic and diluted net loss per share	17,431,714	29,334,865	17,431,714

SCHEDULE OF ERROR CORRECTIONS A

SCHEDULE OF ERROR CORRECTIONS AND PRIOR PERIOD ADJUSTMENTS (Details) - USD ($)	3 Months Ended				6 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Mar. 31, 2020	Jun. 30, 2021	Sep. 30, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Gain on change in fair value of warrant liabilities								$ 2,300,000
Net loss							$ (19,546,366)	$ (17,897,137)	$ (20,421,979)
Net loss per common share							$ (19,546,366)	$ (17,897,137)
Previously Reported [Member]
Gain on change in fair value of warrant liabilities	$ (1,942,900)	$ (2,075,100)	$ (2,122,900)		$ (4,198,000)	$ (6,140,900)
Net loss	$ (2,858,518)	$ (5,305,233)	$ (3,672,627)		$ (8,977,860)	$ (11,836,378)
Net loss per common share	$ (0.10)	$ (0.18)	$ (0.13)		$ (0.31)	$ (0.41)
Revision of Prior Period, Error Correction, Adjustment [Member]
Gain on change in fair value of warrant liabilities	$ (1,763,936)	$ (1,982,256)		$ (552,808)	$ (2,535,064)	$ (4,299,000)
Net loss	$ (3,037,482)	$ (5,398,077)		$ (5,242,719)	$ (10,640,796)	$ (13,678,278)
Net loss per common share	$ (0.10)	$ (0.19)		$ (0.19)	$ (0.37)	$ (0.48)

QUARTERLY FINANCIAL DATA (UNA_3

QUARTERLY FINANCIAL DATA (UNAUDITED) (Details Narrative) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)
Gain on change in fair value of warrant liabilities	$ 2.3
Warrants Liabilities [Member]
Gain on change in fair value of warrant liabilities	$ 1.9

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	Mar. 07, 2022	Jan. 13, 2022	Aug. 31, 2022	Mar. 04, 2022	Dec. 31, 2021	Dec. 31, 2020
Subsequent Event [Line Items]
Share price						$ 4.07
Minimum [Member]
Subsequent Event [Line Items]
Share price					$ 1.24
Maximum [Member]
Subsequent Event [Line Items]
Share price					$ 3.29
Subsequent Event [Member]
Subsequent Event [Line Items]
[custom:ReimbursementOfPatent]		$ 160,000
Share price			$ 1	$ 1
Subsequent Event [Member] | University of Louisville Research Foundation [Member] | Minimum [Member]
Subsequent Event [Line Items]
Reimbursement of research expense	$ 1,800,000
Subsequent Event [Member] | University of Louisville Research Foundation [Member] | Maximum [Member]
Subsequent Event [Line Items]
Reimbursement of research expense	$ 2,700,000
Upfront Paymenet [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
[custom:ReimbursementOfPatent]		$ 150,000