BioRestorative Therapies (BRTX) 10-Q 13 Nov 23 2023 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2023	Nov. 10, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2023
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Entity File Number	001-37603
Entity Registrant Name	BIORESTORATIVE THERAPIES, INC.
Entity Central Index Key	0001505497
Entity Tax Identification Number	30-1341024
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	40 Marcus Drive
Entity Address, City or Town	Melville
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	11747
City Area Code	(631)
Local Phone Number	760-8100
Title of 12(b) Security	Common Stock, $0.0001 par value
Trading Symbol	BRTX
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Bankruptcy Proceedings, Reporting Current	true
Entity Common Stock, Shares Outstanding		4,706,917

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Current Assets:
Cash and cash equivalents	$ 2,436,869	$ 1,676,577
Investments held in marketable securities	9,801,837	13,072,831
Accounts receivable	39,300	16,000
Prepaid expenses and other current assets	325,931	363,082
Total Current Assets	12,603,937	15,128,490
Property and equipment, net	306,310	261,003
Right of use asset	154,726	241,760
Intangible assets, net	736,128	803,438
Total Assets	13,801,101	16,434,691
Current Liabilities:
Accounts payable	227,355	170,902
Accrued expenses and other current liabilities	548,954	130,072
Lease liability, current portion	156,310	139,328
Total Current Liabilities	932,619	440,302
Lease liability, net of current portion	42,414	162,317
Total Liabilities	975,033	602,619
Stockholders’ Equity
Common Stock, $0.0001 par value; Authorized, 75,000,000 shares; 4,667,641 and 3,677,775 issued and outstanding at September 30, 2023 and December 31, 2022, respectively	468	369
Additional paid in capital	177,042,781	168,457,418
Accumulated deficit	(164,231,163)	(152,640,897)
Total Stockholders’ Equity	12,826,068	15,832,072
Total Liabilities and Stockholders’ Equity	13,801,101	16,434,691
Series B Convertible Preferred Stock [Member]
Stockholders’ Equity
Preferred stock, value	$ 13,982	$ 15,182

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2023	Dec. 31, 2022
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	20,000,000	20,000,000
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	4,667,641	3,677,775
Common stock, shares outstanding	4,667,641	3,677,775
Series B Convertible Preferred Stock [Member]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	1,543,158	1,543,158
Preferred stock, shares issued	1,398,158	1,518,158
Preferred stock, shares outstanding	1,398,158	1,518,158

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Revenues	$ 30,700	$ 29,000	$ 126,500	$ 116,100
Operating expenses:
Research and development	874,824	989,170	3,353,960	2,839,731
General and administrative	2,260,319	3,649,530	8,772,632	11,568,490
Total operating expenses	3,135,143	4,638,700	12,126,592	14,408,221
Loss from operations	(3,104,443)	(4,609,700)	(12,000,092)	(14,292,121)
Other (income) expense:
Interest (income) expense	(61,667)	28,841	(176,070)	104,465
Gain on PPP loan forgiveness				(250,000)
Grant income	(83,333)		(83,333)	(16,654)
Other income, net	(33,951)	17,284	(150,423)	17,284
Total other (income) expense	(178,951)	46,125	(409,826)	(144,905)
Net loss	$ (2,925,492)	$ (4,655,825)	$ (11,590,266)	$ (14,147,216)
Net Loss Per Share - Basic	$ (0.64)	$ (1.28)	$ (2.85)	$ (3.93)
Net Loss Per Share - Diluted	$ (0.64)	$ (1.28)	$ (2.85)	$ (3.93)
Weighted Average Number of Common Shares Outstanding - Basic	4,570,843	3,642,215	4,061,975	3,602,979
Weighted Average Number of Common Shares Outstanding - Diluted	4,570,843	3,642,215	4,061,975	3,602,979

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)	Preferred Stock [Member] Series A Convertible Preferred Stock [Member]	Preferred Stock [Member] Series B Convertible Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance at Dec. 31, 2021	$ 15,432		$ 353	$ 155,727,292	$ (134,146,128)	$ 21,596,949
Balance, shares at Dec. 31, 2021	1,543,158		3,520,391
Stock-based compensation:
- restricted share units			$ 10	1,164,125		1,164,135
- restricted stock units, shares			97,828
- options				2,138,949		2,138,949
- common stock			$ 1	72,818		72,819
- common stock, shares			13,500
Net loss					(4,816,150)	(4,816,150)
Balance at Mar. 31, 2022	$ 15,432		$ 364	159,103,184	(138,962,278)	20,156,702
Balance, shares at Mar. 31, 2022	1,543,158		3,631,719
Balance at Dec. 31, 2021	$ 15,432		$ 353	155,727,292	(134,146,128)	21,596,949
Balance, shares at Dec. 31, 2021	1,543,158		3,520,391
Stock-based compensation:
Net loss						(14,147,216)
Balance at Sep. 30, 2022		$ 15,432	$ 365	165,281,862	(148,293,344)	17,004,315
Balance, shares at Sep. 30, 2022		1,543,158	3,646,450
Balance at Mar. 31, 2022	$ 15,432		$ 364	159,103,184	(138,962,278)	20,156,702
Balance, shares at Mar. 31, 2022	1,543,158		3,631,719
Stock-based compensation:
- restricted share units			$ 1	1,190,349		1,190,350
- restricted stock units, shares			6,220
- options				1,865,297		1,865,297
- common stock				48,504		48,504
- common stock, shares			5,770
Net loss					(4,675,241)	(4,675,241)
Balance at Jun. 30, 2022	$ 15,432		$ 365	162,207,334	(143,637,519)	18,585,612
Balance, shares at Jun. 30, 2022	1,543,158		3,643,709
Stock-based compensation:
- restricted share units				1,209,231		1,209,231
- restricted stock units, shares			6,218
- options				1,865,297		1,865,297
- common stock
- common stock, shares			(3,477)
Net loss					(4,655,825)	(4,655,825)
Issuance of Series B Preferred stock in exchange for Series A Preferred stock	$ (15,432)	$ 15,432
Issuance of Series B Preferred stock in exchange for Series A Preferred stock, shares	(1,543,158)	1,543,158
Balance at Sep. 30, 2022		$ 15,432	$ 365	165,281,862	(148,293,344)	17,004,315
Balance, shares at Sep. 30, 2022		1,543,158	3,646,450
Balance at Dec. 31, 2022		$ 15,182	$ 369	168,457,418	(152,640,897)	15,832,072
Balance, shares at Dec. 31, 2022		1,518,158	3,677,775
Stock-based compensation:
- restricted share units			$ 9	1,148,750		1,148,759
- restricted stock units, shares			89,840
- options				2,190,428		2,190,428
- common stock
- common stock, shares
Net loss					(5,684,222)	(5,684,222)
Balance at Mar. 31, 2023		$ 15,182	$ 378	171,796,596	(158,325,119)	13,487,037
Balance, shares at Mar. 31, 2023		1,518,158	3,767,615
Balance at Dec. 31, 2022		$ 15,182	$ 369	168,457,418	(152,640,897)	15,832,072
Balance, shares at Dec. 31, 2022		1,518,158	3,677,775
Stock-based compensation:
Net loss						(11,590,266)
Issuance of common stock						$ 411,710
Issuance of common stock, shares						93,551
Balance at Sep. 30, 2023		$ 13,982	$ 468	177,042,781	(164,231,163)	$ 12,826,068
Balance, shares at Sep. 30, 2023		1,398,158	4,667,641
Balance at Mar. 31, 2023		$ 15,182	$ 378	171,796,596	(158,325,119)	13,487,037
Balance, shares at Mar. 31, 2023		1,518,158	3,767,615
Stock-based compensation:
- restricted share units				1,164,135		1,164,135
- restricted stock units, shares			1,442
- options				321,534		321,534
- common stock
Net loss					(2,980,552)	(2,980,552)
Issuance of common stock			$ 9	411,701		411,710
Issuance of common stock, shares			93,551
Conversion of Series B preferred to common stock		$ (1,200)	$ 12	1,188
Conversion of Series B preferred to common stock, Shares		(120,000)	120,000
Balance at Jun. 30, 2023		$ 13,982	$ 399	173,695,154	(161,305,671)	12,403,864
Balance, shares at Jun. 30, 2023		1,398,158	3,982,608
Stock-based compensation:
- restricted share units				1,164,135		1,164,135
- options				329,571		329,571
- common stock
Net loss					(2,925,492)	(2,925,492)
Issuance of common stock			$ 69	1,853,921		1,853,990
Issuance of common stock, shares			685,033
Balance at Sep. 30, 2023		$ 13,982	$ 468	$ 177,042,781	$ (164,231,163)	$ 12,826,068
Balance, shares at Sep. 30, 2023		1,398,158	4,667,641

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net Loss	$ (11,590,266)	$ (14,147,216)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	123,022	88,751
Unrealized loss on marketable securities	18,598	19,895
Stock-based compensation	6,318,562	9,554,582
Gain on PPP loan forgiveness		(250,000)
Non-cash lease expense	87,034	87,033
Changes in operating assets and liabilities:
Accounts receivable	(23,300)	(40,000)
Prepaid assets and other current assets	37,151	80,135
Accounts payable	56,453	417,674
Accrued expenses and other current liabilities	418,882	(20,321)
Lease liability	(102,921)	(87,945)
Net cash used in operating activities	(4,656,785)	(4,297,412)
Cash flows from investing activities:
Sale of marketable securities	3,690,238
Purchase of marketable securities	(437,842)	(9,933,562)
Purchases of equipment	(101,019)	(222,642)
Net cash provided by (used in) investing activities	3,151,377	(10,156,204)
Cash flows from financing activities:
Net proceeds from issuance of common stock in ATM transactions	411,710
Net proceeds from issuance of common stock in direct offering	1,853,990
Net cash provided by financing activities	2,265,700
Net increase (decrease) in cash and cash equivalents	760,292	(14,453,616)
Cash and cash equivalents - beginning of period	1,676,577	21,026,727
Cash and cash equivalents - end of period	$ 2,436,869	$ 6,573,111

NATURE OF THE ORGANIZATION, LIQ

NATURE OF THE ORGANIZATION, LIQUIDITY, AND BUSINESS	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF THE ORGANIZATION, LIQUIDITY, AND BUSINESS	NOTE 1 - NATURE OF THE ORGANIZATION, LIQUIDITY, AND BUSINESS Corporate History BioRestorative Therapies, Inc. has one wholly-owned subsidiary, Stem Pearls, LLC (“Stem Pearls”). BioRestorative Therapies, Inc. and its subsidiary are referred to collectively as “BRT” or the “Company”. On December 29, 2022, the Company reincorporated from Delaware to Nevada. The reincorporation was structured as a statutory merger of BioRestorative Therapies, Inc., a Delaware corporation, with and into its wholly-owned subsidiary, BioRestorative Therapies, Inc., a Nevada corporation. Liquidity The accompanying unaudited condensed consolidated financial statements have been prepared on the basis that the Company will continue as a going concern, which contemplates realization of assets and satisfying liabilities in the normal course of business. For the nine months ended September 30, 2023, the Company had a net loss of $ 11.6 6.3 4.7 On April 14, 2023, the Company entered into a sales agreement with JonesTrading Institutional Services LLC for an at-the-market (“ATM”) offering of the Company’s Common Stock, par value $ 0.0001 3.7 411,710 93,551 On July 13, 2023, the Company sold an aggregate of 685,033 3.03 1.9 BRTX-100 ThermoStem Program Based on cash on hand as of September 30, 2023, the Company believes it has sufficient cash to fund operations for the twelve months subsequent to the filing date of this Form 10-Q. Current funds noted above will not be sufficient to enable the Company to fully complete its development activities or attain profitable operations. If the Company is unable to obtain such needed additional financing on a timely basis, the Company may have to curtail its development, marketing and promotional activities, which would have a material adverse effect on the Company’s business, financial condition and results of operations, and ultimately the Company could be forced to discontinue its operations and liquidate. The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”), which contemplate continuation of the Company as a going concern and the realization of assets and satisfaction of liabilities in the normal course of business. The carrying amounts of assets and liabilities presented in the unaudited condensed consolidated financial statements do not necessarily purport to represent realizable or settlement values. The accompanying unaudited condensed consolidated financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern. Business Operations BRT develops therapeutic products and medical therapies using cell and tissue protocols, primarily involving adult stem cells. BRT’s website is at www.biorestorative.com BRTX-100 BRTX-100 In September 2023, BRT announced that it had entered into a supply agreement with a supplier of biologic-based cosmetics pursuant to which BRT will manufacture tissue-based biologics for use in the production of cosmetic and aesthetic applications.

BASIS OF PRESENTATION AND SUMMA

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 – BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with GAAP. The summary of significant accounting policies presented below is designed to assist in understanding the Company’s unaudited condensed consolidated financial statements. The unaudited condensed consolidated financial statements of the Company included herein have been prepared, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted from this report, as is permitted by such rules and regulations. Accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, filed with the SEC on March 27, 2023 (the “Annual Report”). The summary of significant accounting policies presented below is designed to assist in understanding the Company’s unaudited condensed consolidated financial statements. Such unaudited condensed consolidated financial statements and accompanying notes are the representations of Company’s management, who is responsible for their integrity and objectivity. Operating results for the three and nine months ended September 30, 2023 are not necessarily indicative of the results that may be expected for the entire year or for any other subsequent interim period. Principles of Consolidation The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary. All intercompany accounts and transactions have been eliminated upon consolidation. Use of Estimates The preparation of the unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, equity-based transactions, revenue and expenses and disclosure of contingent liabilities at the date of the unaudited condensed consolidated financial statements. The Company bases its estimates and assumptions on historical experience, known or expected trends and various other assumptions that it believes to be reasonable. As future events and their effects cannot be determined with precision, actual results could differ from these estimates which may cause the Company’s future results to be affected. Concentrations Financial instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution. The Company maintains deposits in its cash account in excess of the Federal Deposit Insurance Corporation coverage of $ 250,000 The royalties related to the Company’s sublicense comprised all of the Company’s revenue during the three and nine months ended September 30, 2023 and 2022. Summary of Significant Accounting Policies The Company’s significant accounting policies are described in Note 2, Summary of Significant Accounting Policies and Recent Accounting Standards, in the Annual Report. During the three and nine months ended September 30, 2023, the Company did not make any changes to its significant accounting policies, except as described below with respect to recent accounting pronouncements. Fair Value Measurements As defined in ASC 820, Fair Value Measurements and Disclosures Level 1: Quoted prices are available in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of financial instruments such as exchange-traded derivatives, marketable securities and listed equities. Level 2: Pricing inputs are other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reported date. Level 2 includes those financial instruments that are valued using models or other valuation methodologies. These models are primarily industry-standard models that consider various assumptions, including quoted forward prices for commodities, time value, volatility factors and current market and contractual prices for the underlying instruments, as well as other relevant economic measures. Substantially all of these assumptions are observable in the marketplace throughout the full term of the instrument, can be derived from observable data or are supported by observable levels at which transactions are executed in the marketplace. Instruments in this category generally include non-exchange-traded derivatives such as commodity swaps, interest rate swaps, options and collars. Level 3: Pricing inputs include significant inputs that are generally less observable from objective sources. These inputs may be used with internally-developed methodologies that result in management’s best estimate of fair value. SCHEDULE OF FAIR VALUE RECURRING BASIS Fair value measurements at reporting date using: Fair value Quoted prices in active markets for identical liabilities Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Assets: Marketable securities as of September 30, 2023 $ 9,801,837 $ 9,801,837 - - Marketable securities as of December 31, 2022 $ 13,072,831 $ 13,072,831 - - Fair Value of Financial Instruments The carrying value of cash, accounts receivable, and accounts payable approximate their fair values based on the short-term maturity of these instruments. Net Loss per Common Share Net loss per share is computed by dividing net loss by the weighted average number of shares of Common Stock outstanding during the year. All outstanding options and warrants are considered potential Common Stock. The dilutive effect, if any, of stock options and warrants are calculated using the treasury stock method. All outstanding convertible preferred stock is considered Common Stock at the beginning of the period or at the time of issuance, if later, pursuant to the if-converted method. Since the effect of Common Stock equivalents is anti-dilutive with respect to losses, options, warrants, and convertible preferred stock have been excluded from the Company’s computation of diluted net loss per common share for the three and nine months ended September 30, 2023 and 2022. The following tables summarize the securities that were excluded from the diluted per share calculation because the effect of including these potential shares was antidilutive due to the Company’s net loss position even though the exercise or conversion price could be less than the average market price of the common shares: SCHEDULE OF WEIGHTED AVERAGE DILUTIVE COMMON SHARES Three Months Ended September 30, 2023 2022 Options 1,466,890 864,609 Warrants 4,791,048 4,739,733 Unvested RSUs 97,827 208,086 Convertible preferred stock 1,398,158 - Total 7,753,923 5,812,428 Nine Months Ended September 30, 2023 2022 Options 1,466,890 864,609 Warrants 4,791,048 4,739,733 Unvested RSUs 97,827 208,086 Convertible preferred stock 1,398,158 - Total 7,753,923 5,812,428 Recently Adopted Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses,

INTANGIBLE ASSETS

INTANGIBLE ASSETS	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	NOTE 3 - INTANGIBLE ASSETS The Company is a party to a license agreement with a stem cell treatment company (the “SCTC”) (as amended) (the “SCTC Agreement”). Pursuant to the SCTC Agreement, the Company obtained, among other things, a worldwide, exclusive, royalty-bearing license from the SCTC to utilize or sublicense a certain medical device patent for the administration of specific cells and/or cell products to the disc and/or spine (and other parts of the body) and a worldwide (excluding Asia and Argentina), exclusive, royalty-bearing license to utilize or sublicense a certain method for culturing cells. Pursuant to the license agreement with the SCTC, certain performance milestones (or payouts in lieu of performance milestones) had to be satisfied in order for the Company to maintain its exclusive rights with regard to the disc/spine technology. The Company did not timely satisfy the third of these performance milestones (which needed to be satisfied by February 2022). Accordingly, such rights became non-exclusive. However, in November 2022, the Company entered into an amended agreement under which it paid $ 175,000 51,370 117,030 In February 2017, the Company received authorization from the Food and Drug Administration (the “FDA”) to proceed with a Phase 2 clinical trial. In March 2022, the United States Patent and Trademark Office issued a patent relating to the Company’s BRTX-100 clinical program. Intangible assets consist of the following: SCHEDULE OF INTANGIBLE ASSETS Patents and Trademarks Licenses Accumulated Amortization Total Balance as of January 1, 2023 $ 3,676 $ 1,593,530 $ (793,768 ) $ 803,438 Amortization expense - - (67,310 ) (67,310 ) Balance as of September 30, 2023 $ 3,676 $ 1,593,530 $ (861,078 ) $ 736,128 Weighted average remaining amortization period as of September 30, 2023 - 10.58 Accumulated amortization of intangible assets consists of the following: SCHEDULE OF INTANGIBLE ASSETS AMORTIZATION EXPENSES Patents and Trademarks Licenses Accumulated Amortization Balance as of January 1, 2023 $ 3,676 $ 790,092 $ 793,768 Amortization expense - 67,310 67,310 Balance as of September 30, 2023 $ 3,676 $ 857,402 $ 861,078

ACCRUED EXPENSES AND OTHER CURR

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	9 Months Ended
	Sep. 30, 2023
Payables and Accruals [Abstract]
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	NOTE 4 - ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES Accrued expenses and other current liabilities consist of: SCHEDULE OF ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES September 30, 2023 December 31, 2022 Accrued payroll $ 487,500 $ 26,250 Accrued general and administrative expenses 61,454 103,822 Total accrued expenses $ 548,954 $ 130,072

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
STOCKHOLDERS’ EQUITY	NOTE 5 - STOCKHOLDERS’ EQUITY Series A Preferred Stock On November 8, 2021, in connection with the Company’s public offering, the Company’s Board of Directors adopted a resolution allowing for the designation and issuance of 1,543,158 .01 0.001 1,543,158 Series B Preferred Stock Effective September 8, 2022, the Company issued 1,543,158 9.99 4.99 Dividends Series B holders shall be entitled to receive, when and as declared by the Board of Directors, dividends on a pari passu basis with the holders of the shares of Common Stock based upon the number of shares of Common Stock into which the Series B is then convertible. Voting Rights Series B holders shall be entitled to vote on all matters presented to the stockholders of the Company for a vote at a meeting of stockholders of the Company or a written consent in lieu of a meeting of stockholders of the Company, and shall be entitled to such number of votes for each share of Series B entitled to vote at such meetings or pursuant to such consent, voting together with the holders of shares of Common Stock and other shares of preferred stock who are entitled to vote, and not as a separate class, except as required by law. The number of votes to which the Series B holders shall be entitled to vote for each share of Series B shall equal the number of shares of Common Stock into which such Series B is then convertible; provided, however, that in no event shall a Series B holder be entitled to vote more than 9.99 Conversion Optional Conversion - Each share of Series B shall be convertible, at any time and from time to time, at the option of the Series B holder, into one share of Common Stock; 9.99 Automatic Conversion – From time to time, if an event occurs, including adjustment due to merger, consolidation, etc., subdivision or combination of Common Stock, adjustment due to distribution, purchase rights, and notice of adjustments, which has the effect of reducing a Series B holder’s beneficial ownership of shares of Common Stock to less than 9.5 9.99 On April 4, 2023, Auctus converted 120,000 120,000 1,398,158 Common Stock On July 13, 2023, the Company sold an aggregate of 685,033 3.03 1.9 BRTX-100 ThermoStem Program 4,667,641 2021 Stock Incentive Plan On March 18, 2021, the Company’s Board of Directors adopted the BioRestorative Therapies, Inc. 2021 Stock Incentive Plan (the “2021 Plan”). The 2021 Plan was approved by the Company’s stockholders on August 17, 2021. Pursuant to the 2021 Plan, a total of 1,175,000 shares of common stock were initially authorized to be issued pursuant to the grant of stock options, restricted stock units, restricted stock, stock appreciation rights and other incentive awards. On December 10, 2021, the Company’s Board of Directors approved an amendment to increase the number of shares of Common Stock authorized to be issued from 1,175,000 to 2,500,000 . Such amendment was approved by the Company’s stockholders on November 3, 2022. On July 13, 2023, the Company’s Board of Directors approved an amendment to the 2021 Plan to increase the number of shares of common stock authorized to be issued from 2,500,000 to 3,850,000 . Warrant and Option Valuation The Company has computed the fair value of warrants and options granted using the Black-Scholes option pricing model. The expected term used for warrants and options issued to non-employees is the contractual life and the expected term used for options issued to employees and directors is the estimated period of time that options granted are expected to be outstanding. The Company utilizes the “simplified” method to develop an estimate of the expected term of “plain vanilla” employee option grants. The Company is utilizing an expected volatility figure based on a review of the historical volatilities, over a period of time equivalent to the expected life of the instrument being valued, of similarly positioned public companies within its industry. The risk-free interest rate was determined from the implied yields from U.S. Treasury zero-coupon bonds with a remaining term consistent with the expected term of the instrument being valued. Stock Options There were no 629,017 1,745,000 There were no 25,000 122,117 In applying the Black-Scholes option pricing model to stock options granted during the nine months ended September 30, 2023 and 2022, the Company used the following assumptions: SCHEDULE OF STOCK OPTION GRANTED ASSUMPTIONS For the For the September 30, September 30, 2023 2022 Risk free interest rate 4.22 % 2.42 % Expected term (years) 3.50 3.50 Expected volatility 175 % 286 % Expected dividends 0.00 % 0.00 % A summary of the stock option activity during the nine months ended September 30, 2023 is presented below: SCHEDULE OF STOCK OPTION ACTIVITY Number of Options Weighted Average Exercise Price Outstanding, January 1, 2023 864,639 $ 5.08 Granted 629,017 2.91 Expired - - Forfeited (26,766 ) 5.08 Outstanding, September 30, 2023 1,466,890 $ 4.17 Exercisable, September 30, 2023 1,122,671 $ 4.69 Restricted Stock Units Pursuant to the Company’s 2021 Stock Incentive Plan, the Company may grant restricted stock units (“RSUs”) to employees, consultants or non-employee directors (“Eligible Individuals”). The number, terms and conditions of the RSUs that are granted to Eligible Individuals are determined on an individual basis by the 2021 Plan administrator. On the distribution date, the Company shall issue to the Eligible Individual one unrestricted, fully transferable share of the Company’s Common Stock (or the fair market value of one such share in cash) for each vested and nonforfeitable RSU. A summary of the Company’s unvested RSUs as of September 30, 2023 is as follows: SCHEDULE OF UNVESTED RESTRICTED STOCK UNITS Number of Shares Outstanding, December 31, 2022 201,870 Granted - Forfeited - Vested (104,043 ) Outstanding, September 30, 2023 97,827 The following table presents stock compensation by award type: SCHEDULE OF STOCK COMPENSATION BY AWARD TYPE For the Three Months Ended 2023 2022 Options $ 329,571 $ 1,865,297 RSUs 1,164,135 1,190,349 Shares issued for services - 18,923 $ 1,493,706 $ 3,074,528 For the Nine Months Ended 2023 2022 Options $ 2,841,533 $ 5,869,543 RSUs 3,477,020 3,544,782 Shares issued for services - 140,245 $ 6,318,553 $ 9,554,570 Stock based compensation is included in General and administrative expenses on the unaudited condensed consolidated statements of operations. As of September 30, 2023, unrecognized stock based compensation expense is $ 872,304 with a weighted average remaining amortization period of 0.87 years.

LEASES

LEASES	9 Months Ended
	Sep. 30, 2023
Leases
LEASES	Note 6 - LEASES The Company is a party to a lease for 6,800 132,600 149,260 the Company exercised its option to extend the Melville Lease and entered into a lease amendment with the lessor whereby the five-year extension term commenced on January 1, 2020 with annual base rent ranging between $ 153,748 173,060 When measuring lease liabilities for leases that were classified as operating leases, the Company discounted lease payments using its estimated incremental borrowing rate at August 1, 2019. The weighted average incremental borrowing rate applied was 12 The following table presents net lease cost and other supplemental lease information: SCHEDULE OF NET LEASE COST AND OTHER SUPPLEMENTAL LEASE INFORMATION 2023 2022 Nine Months Ended September 30, 2023 2022 Lease cost Operating lease cost (cost resulting from lease payments) $ 126,021 $ 122,349 Net lease cost $ 126,021 $ 122,349 Operating lease – operating cash flows (fixed payments) $ 126,021 $ 122,349 Operating lease – operating cash flows (liability reduction) $ 102,921 $ 87,945 Non-current leases – right of use assets $ 154,726 $ 270,772 Current liabilities – operating lease liabilities $ 156,310 $ 134,031 Non-current liabilities – operating lease liabilities $ 42,414 $ 198,724 Future minimum payments under non-cancelable leases for operating leases for the remaining terms of the leases as of September 30, 2023: SCHEDULE OF FUTURE MINIMUM PAYMENTS UNDER NON-CANCELABLE LEASES FOR OPERATING LEASES Fiscal Year Operating Leases Remainder of 2023 $ 42,007 2024 173,060 Total future minimum lease payments 215,067 Amount representing interest (16,343 ) Present value of net future minimum lease payments $ 198,724

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	Note 7 – SUBSEQUENT EVENTS In April 2023, the Company entered into a Capital on Demand Sales Agreement with JonesTrading Institutional Services LLC (the “Sales Agent”) under which the Company currently has the ability to issue and sell shares of its Common Stock, from time to time, through the Sales Agent, up to an aggregate offering price of approximately $ 5,486,000 in what is commonly referred to as an “at-the-market” (“ATM”) program. In October 2023, the Company sold an additional 39,276 shares of its Common Stock at an average price of $ 2.17 per share and raised approximately $ 86,000 in gross proceeds under the ATM program.

BASIS OF PRESENTATION AND SUM_2

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with GAAP. The summary of significant accounting policies presented below is designed to assist in understanding the Company’s unaudited condensed consolidated financial statements. The unaudited condensed consolidated financial statements of the Company included herein have been prepared, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted from this report, as is permitted by such rules and regulations. Accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, filed with the SEC on March 27, 2023 (the “Annual Report”). The summary of significant accounting policies presented below is designed to assist in understanding the Company’s unaudited condensed consolidated financial statements. Such unaudited condensed consolidated financial statements and accompanying notes are the representations of Company’s management, who is responsible for their integrity and objectivity. Operating results for the three and nine months ended September 30, 2023 are not necessarily indicative of the results that may be expected for the entire year or for any other subsequent interim period.
Principles of Consolidation	Principles of Consolidation The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary. All intercompany accounts and transactions have been eliminated upon consolidation.
Use of Estimates	Use of Estimates The preparation of the unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, equity-based transactions, revenue and expenses and disclosure of contingent liabilities at the date of the unaudited condensed consolidated financial statements. The Company bases its estimates and assumptions on historical experience, known or expected trends and various other assumptions that it believes to be reasonable. As future events and their effects cannot be determined with precision, actual results could differ from these estimates which may cause the Company’s future results to be affected.
Concentrations	Concentrations Financial instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution. The Company maintains deposits in its cash account in excess of the Federal Deposit Insurance Corporation coverage of $ 250,000 The royalties related to the Company’s sublicense comprised all of the Company’s revenue during the three and nine months ended September 30, 2023 and 2022.
Fair Value Measurements	Fair Value Measurements As defined in ASC 820, Fair Value Measurements and Disclosures Level 1: Quoted prices are available in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of financial instruments such as exchange-traded derivatives, marketable securities and listed equities. Level 2: Pricing inputs are other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reported date. Level 2 includes those financial instruments that are valued using models or other valuation methodologies. These models are primarily industry-standard models that consider various assumptions, including quoted forward prices for commodities, time value, volatility factors and current market and contractual prices for the underlying instruments, as well as other relevant economic measures. Substantially all of these assumptions are observable in the marketplace throughout the full term of the instrument, can be derived from observable data or are supported by observable levels at which transactions are executed in the marketplace. Instruments in this category generally include non-exchange-traded derivatives such as commodity swaps, interest rate swaps, options and collars. Level 3: Pricing inputs include significant inputs that are generally less observable from objective sources. These inputs may be used with internally-developed methodologies that result in management’s best estimate of fair value. SCHEDULE OF FAIR VALUE RECURRING BASIS Fair value measurements at reporting date using: Fair value Quoted prices in active markets for identical liabilities Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Assets: Marketable securities as of September 30, 2023 $ 9,801,837 $ 9,801,837 - - Marketable securities as of December 31, 2022 $ 13,072,831 $ 13,072,831 - -
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying value of cash, accounts receivable, and accounts payable approximate their fair values based on the short-term maturity of these instruments.
Net Loss per Common Share	Net Loss per Common Share Net loss per share is computed by dividing net loss by the weighted average number of shares of Common Stock outstanding during the year. All outstanding options and warrants are considered potential Common Stock. The dilutive effect, if any, of stock options and warrants are calculated using the treasury stock method. All outstanding convertible preferred stock is considered Common Stock at the beginning of the period or at the time of issuance, if later, pursuant to the if-converted method. Since the effect of Common Stock equivalents is anti-dilutive with respect to losses, options, warrants, and convertible preferred stock have been excluded from the Company’s computation of diluted net loss per common share for the three and nine months ended September 30, 2023 and 2022. The following tables summarize the securities that were excluded from the diluted per share calculation because the effect of including these potential shares was antidilutive due to the Company’s net loss position even though the exercise or conversion price could be less than the average market price of the common shares: SCHEDULE OF WEIGHTED AVERAGE DILUTIVE COMMON SHARES Three Months Ended September 30, 2023 2022 Options 1,466,890 864,609 Warrants 4,791,048 4,739,733 Unvested RSUs 97,827 208,086 Convertible preferred stock 1,398,158 - Total 7,753,923 5,812,428 Nine Months Ended September 30, 2023 2022 Options 1,466,890 864,609 Warrants 4,791,048 4,739,733 Unvested RSUs 97,827 208,086 Convertible preferred stock 1,398,158 - Total 7,753,923 5,812,428
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses,

BASIS OF PRESENTATION AND SUM_3

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
SCHEDULE OF FAIR VALUE RECURRING BASIS	SCHEDULE OF FAIR VALUE RECURRING BASIS Fair value measurements at reporting date using: Fair value Quoted prices in active markets for identical liabilities Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Assets: Marketable securities as of September 30, 2023 $ 9,801,837 $ 9,801,837 - - Marketable securities as of December 31, 2022 $ 13,072,831 $ 13,072,831 - -
SCHEDULE OF WEIGHTED AVERAGE DILUTIVE COMMON SHARES	The following tables summarize the securities that were excluded from the diluted per share calculation because the effect of including these potential shares was antidilutive due to the Company’s net loss position even though the exercise or conversion price could be less than the average market price of the common shares: SCHEDULE OF WEIGHTED AVERAGE DILUTIVE COMMON SHARES Three Months Ended September 30, 2023 2022 Options 1,466,890 864,609 Warrants 4,791,048 4,739,733 Unvested RSUs 97,827 208,086 Convertible preferred stock 1,398,158 - Total 7,753,923 5,812,428 Nine Months Ended September 30, 2023 2022 Options 1,466,890 864,609 Warrants 4,791,048 4,739,733 Unvested RSUs 97,827 208,086 Convertible preferred stock 1,398,158 - Total 7,753,923 5,812,428

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
SCHEDULE OF INTANGIBLE ASSETS	Intangible assets consist of the following: SCHEDULE OF INTANGIBLE ASSETS Patents and Trademarks Licenses Accumulated Amortization Total Balance as of January 1, 2023 $ 3,676 $ 1,593,530 $ (793,768 ) $ 803,438 Amortization expense - - (67,310 ) (67,310 ) Balance as of September 30, 2023 $ 3,676 $ 1,593,530 $ (861,078 ) $ 736,128 Weighted average remaining amortization period as of September 30, 2023 - 10.58
SCHEDULE OF INTANGIBLE ASSETS AMORTIZATION EXPENSES	Accumulated amortization of intangible assets consists of the following: SCHEDULE OF INTANGIBLE ASSETS AMORTIZATION EXPENSES Patents and Trademarks Licenses Accumulated Amortization Balance as of January 1, 2023 $ 3,676 $ 790,092 $ 793,768 Amortization expense - 67,310 67,310 Balance as of September 30, 2023 $ 3,676 $ 857,402 $ 861,078

ACCRUED EXPENSES AND OTHER CU_2

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2023
Payables and Accruals [Abstract]
SCHEDULE OF ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	Accrued expenses and other current liabilities consist of: SCHEDULE OF ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES September 30, 2023 December 31, 2022 Accrued payroll $ 487,500 $ 26,250 Accrued general and administrative expenses 61,454 103,822 Total accrued expenses $ 548,954 $ 130,072

STOCKHOLDERS_ EQUITY (Tables)

STOCKHOLDERS’ EQUITY (Tables)	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
SCHEDULE OF STOCK OPTION GRANTED ASSUMPTIONS	In applying the Black-Scholes option pricing model to stock options granted during the nine months ended September 30, 2023 and 2022, the Company used the following assumptions: SCHEDULE OF STOCK OPTION GRANTED ASSUMPTIONS For the For the September 30, September 30, 2023 2022 Risk free interest rate 4.22 % 2.42 % Expected term (years) 3.50 3.50 Expected volatility 175 % 286 % Expected dividends 0.00 % 0.00 %
SCHEDULE OF STOCK OPTION ACTIVITY	A summary of the stock option activity during the nine months ended September 30, 2023 is presented below: SCHEDULE OF STOCK OPTION ACTIVITY Number of Options Weighted Average Exercise Price Outstanding, January 1, 2023 864,639 $ 5.08 Granted 629,017 2.91 Expired - - Forfeited (26,766 ) 5.08 Outstanding, September 30, 2023 1,466,890 $ 4.17 Exercisable, September 30, 2023 1,122,671 $ 4.69
SCHEDULE OF UNVESTED RESTRICTED STOCK UNITS	A summary of the Company’s unvested RSUs as of September 30, 2023 is as follows: SCHEDULE OF UNVESTED RESTRICTED STOCK UNITS Number of Shares Outstanding, December 31, 2022 201,870 Granted - Forfeited - Vested (104,043 ) Outstanding, September 30, 2023 97,827
SCHEDULE OF STOCK COMPENSATION BY AWARD TYPE	The following table presents stock compensation by award type: SCHEDULE OF STOCK COMPENSATION BY AWARD TYPE For the Three Months Ended 2023 2022 Options $ 329,571 $ 1,865,297 RSUs 1,164,135 1,190,349 Shares issued for services - 18,923 $ 1,493,706 $ 3,074,528 For the Nine Months Ended 2023 2022 Options $ 2,841,533 $ 5,869,543 RSUs 3,477,020 3,544,782 Shares issued for services - 140,245 $ 6,318,553 $ 9,554,570

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Sep. 30, 2023
Leases
SCHEDULE OF NET LEASE COST AND OTHER SUPPLEMENTAL LEASE INFORMATION	The following table presents net lease cost and other supplemental lease information: SCHEDULE OF NET LEASE COST AND OTHER SUPPLEMENTAL LEASE INFORMATION 2023 2022 Nine Months Ended September 30, 2023 2022 Lease cost Operating lease cost (cost resulting from lease payments) $ 126,021 $ 122,349 Net lease cost $ 126,021 $ 122,349 Operating lease – operating cash flows (fixed payments) $ 126,021 $ 122,349 Operating lease – operating cash flows (liability reduction) $ 102,921 $ 87,945 Non-current leases – right of use assets $ 154,726 $ 270,772 Current liabilities – operating lease liabilities $ 156,310 $ 134,031 Non-current liabilities – operating lease liabilities $ 42,414 $ 198,724
SCHEDULE OF FUTURE MINIMUM PAYMENTS UNDER NON-CANCELABLE LEASES FOR OPERATING LEASES	Future minimum payments under non-cancelable leases for operating leases for the remaining terms of the leases as of September 30, 2023: SCHEDULE OF FUTURE MINIMUM PAYMENTS UNDER NON-CANCELABLE LEASES FOR OPERATING LEASES Fiscal Year Operating Leases Remainder of 2023 $ 42,007 2024 173,060 Total future minimum lease payments 215,067 Amount representing interest (16,343 ) Present value of net future minimum lease payments $ 198,724

NATURE OF THE ORGANIZATION, L_2

NATURE OF THE ORGANIZATION, LIQUIDITY, AND BUSINESS (Details Narrative) - USD ($)			3 Months Ended						9 Months Ended
	Jul. 13, 2023	Apr. 14, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Net loss			$ 2,925,492	$ 2,980,552	$ 5,684,222	$ 4,655,825	$ 4,675,241	$ 4,816,150	$ 11,590,266	$ 14,147,216
Share based compensation									6,318,562	9,554,582
Cash flows from operations									$ 4,656,785	4,297,412
Common stock, par value			$ 0.0001						$ 0.0001		$ 0.0001
Net proceeds offering price	$ 1,900,000								$ 411,710
Issuance of common stock			$ 1,853,990	$ 411,710					$ 411,710
Issuance of common stock, shares									93,551
Sale of aggregate shares	685,033
Offering price	$ 3.03
Jones Trading Institutional Services LLC [Member]
Common stock, par value		$ 0.0001
Net proceeds offering price		$ 3,700,000

SCHEDULE OF FAIR VALUE RECURRIN

SCHEDULE OF FAIR VALUE RECURRING BASIS (Details) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Platform Operator, Crypto-Asset [Line Items]
Marketable securities fair value disclosure	$ 9,801,837	$ 13,072,831
Fair Value, Inputs, Level 1 [Member]
Platform Operator, Crypto-Asset [Line Items]
Marketable securities fair value disclosure	9,801,837	13,072,831
Fair Value, Inputs, Level 2 [Member]
Platform Operator, Crypto-Asset [Line Items]
Marketable securities fair value disclosure
Fair Value, Inputs, Level 3 [Member]
Platform Operator, Crypto-Asset [Line Items]
Marketable securities fair value disclosure

SCHEDULE OF WEIGHTED AVERAGE DI

SCHEDULE OF WEIGHTED AVERAGE DILUTIVE COMMON SHARES (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	7,753,923	5,812,428	7,753,923	5,812,428
Share-Based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	1,466,890	864,609	1,466,890	864,609
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	4,791,048	4,739,733	4,791,048	4,739,733
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	97,827	208,086	97,827	208,086
Convertible Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	1,398,158		1,398,158

BASIS OF PRESENTATION AND SUM_4

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	Sep. 30, 2023 USD ($)
Accounting Policies [Abstract]
FDIC insured limit	$ 250,000

SCHEDULE OF INTANGIBLE ASSETS (

SCHEDULE OF INTANGIBLE ASSETS (Details)	9 Months Ended
	Sep. 30, 2023 USD ($)
Finite-Lived Intangible Assets [Line Items]
Finite Lived Intangible Assets, Net, Beginning Balance	$ 803,438
Finite Lived Intangible Assets, Amortization Expense	(67,310)
Finite Lived Intangible Assets, Net, Ending Balance	736,128
Patents and Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Finite Lived Intangible Assets, Gross, Beginning balance	3,676
Finite Lived Intangible Assets, Amortization Expense
Finite Lived Intangible Assets, Gross, Ending balance	$ 3,676
Finite Lived Intangible Assets, weighted average amortization period
License [Member]
Finite-Lived Intangible Assets [Line Items]
Finite Lived Intangible Assets, Gross, Beginning balance	$ 1,593,530
Finite Lived Intangible Assets, Amortization Expense
Finite Lived Intangible Assets, Gross, Ending balance	$ 1,593,530
Finite Lived Intangible Assets, weighted average amortization period	10 years 6 months 29 days
Accumulated Amortization [Member]
Finite-Lived Intangible Assets [Line Items]
Finite Lived Intangible Assets, Accumulated Amortization, Beginning Balance	$ (793,768)
Finite Lived Intangible Assets, Amortization Expense	(67,310)
Finite Lived Intangible Assets, Accumulated Amortization, Ending Balance	$ (861,078)

SCHEDULE OF INTANGIBLE ASSETS A

SCHEDULE OF INTANGIBLE ASSETS AMORTIZATION EXPENSES (Details)	9 Months Ended
	Sep. 30, 2023 USD ($)
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 67,310
Patents and Trademark [Member]
Finite-Lived Intangible Assets [Line Items]
Beginning Balance	3,676
Amortization expense
Ending Balance	3,676
License [Member]
Finite-Lived Intangible Assets [Line Items]
Beginning Balance	790,092
Amortization expense	67,310
Ending Balance	857,402
Accumulated Amortization [Member]
Finite-Lived Intangible Assets [Line Items]
Beginning Balance	793,768
Amortization expense	67,310
Ending Balance	$ 861,078

INTANGIBLE ASSETS (Details Narr

INTANGIBLE ASSETS (Details Narrative)	1 Months Ended
	Nov. 30, 2022 USD ($) shares
Payment to acquire intangible assets	$ 175,000
Warrant [Member]
Warrants issued | shares	51,370
Fair value of warrants	$ 117,030

SCHEDULE OF ACCRUED EXPENSES AN

SCHEDULE OF ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued payroll	$ 487,500	$ 26,250
Accrued general and administrative expenses	61,454	103,822
Total accrued expenses	$ 548,954	$ 130,072

SCHEDULE OF STOCK OPTION GRANTE

SCHEDULE OF STOCK OPTION GRANTED ASSUMPTIONS (Details) - Equity Option [Member]	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Offsetting Assets [Line Items]
Risk free interest rate	4.22%	2.42%
Expected term (years)	3 years 6 months	3 years 6 months
Expected volatility	175%	286%
Expected dividends	0%	0%

SCHEDULE OF STOCK OPTION ACTIVI

SCHEDULE OF STOCK OPTION ACTIVITY (Details) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023
Equity [Abstract]
Number of Options, Outstanding, Beginning balance			864,639
Weighted Average Exercise Price, Outstanding, Beginning balance			$ 5.08
Number of Options, Granted	0	0	629,017
Weighted Average Exercise Price, Granted			$ 2.91
Number of Options, Expired
Weighted Average Exercise Price, Expired
Number of Options, Forfeited			(26,766)
Weighted Average Exercise Price, Forfeited			$ 5.08
Number of Options, Outstanding, Ending balance	1,466,890		1,466,890
Weighted Average Exercise Price, Outstanding, Ending balance	$ 4.17		$ 4.17
Number of Options, Exercisable, Ending balance	1,122,671		1,122,671
Weighted Average Exercise Price, Exercisable, Ending balance	$ 4.69		$ 4.69

SCHEDULE OF UNVESTED RESTRICTED

SCHEDULE OF UNVESTED RESTRICTED STOCK UNITS (Details) - Restricted Stock Units (RSUs) [Member]	9 Months Ended
	Sep. 30, 2023 shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares outstanding beginning	201,870
Number of shares granted
Number of shares forfeited
Number of shares vested	(104,043)
Number of shares outstanding ending	97,827

SCHEDULE OF STOCK COMPENSATION

SCHEDULE OF STOCK COMPENSATION BY AWARD TYPE (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation award	$ 1,493,706	$ 3,074,528	$ 6,318,553	$ 9,554,570
Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation award	329,571	1,865,297	2,841,533	5,869,543
Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation award	1,164,135	1,190,349	3,477,020	3,544,782
Shares Issued for Services [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation award		$ 18,923		$ 140,245

STOCKHOLDERS_ EQUITY (Details N

STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($)				3 Months Ended		9 Months Ended
	Jul. 13, 2023	Apr. 04, 2023	Sep. 08, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Dec. 10, 2021	Nov. 08, 2021	Mar. 18, 2021
Class of Stock [Line Items]
Preferred stock, par value				$ 0.01		$ 0.01		$ 0.01
Sale of aggregate shares	685,033
Offering price	$ 3.03
Net proceeds offering price	$ 1,900,000					$ 411,710
Common stock, shares outstanding				4,667,641		4,667,641		3,677,775
Common Stock, Shares Authorized				75,000,000		75,000,000		75,000,000
Number of stock option issued granted of common stock				0	0	629,017
Number of option issued to purchase shares of common stock						629,017	25,000
Number of fair value of options issued				1,745,000	122,117	1,745,000	122,117
Share-Based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount				$ 872,304		$ 872,304
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition						10 months 13 days
2021 Stock Incentive Plan [Member]
Class of Stock [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized											1,175,000
2021 Stock Incentive Plan [Member] | Minimum [Member]
Class of Stock [Line Items]
Common Stock, Shares Authorized	2,500,000								1,175,000
2021 Stock Incentive Plan [Member] | Maximum [Member]
Class of Stock [Line Items]
Common Stock, Shares Authorized	3,850,000								2,500,000
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares issued										1,543,158
Preferred stock, par value										$ 0.01
Preferred stock, liquidation preference										$ 0.001
Preferred stock voting rights			4.99
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares issued			1,543,158
Preferred stock voting rights			9.99
Preferred stock voting percentage						9.99%
Preferred stock conversion term						Each share of Series B shall be convertible, at any time and from time to time, at the option of the Series B holder, into one share of Common Stock;
Series B Preferred Stock [Member] | Beneficial Ownership [Member]
Class of Stock [Line Items]
Preferred stock voting percentage						9.99%
Ownership percentage				9.50%		9.50%
Series B Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares issued				1,398,158		1,398,158		1,518,158
Preferred stock, par value				$ 0.01		$ 0.01		$ 0.01
Preferred stock, shares outstanding				1,398,158		1,398,158		1,518,158
Series B Convertible Preferred Stock [Member] | Auctus Fund, LLC [Member]
Class of Stock [Line Items]
Number of shares converted		120,000
Common Stock [Member] | Auctus Fund, LLC [Member]
Class of Stock [Line Items]
Number of shares issued in conversion		120,000

SCHEDULE OF NET LEASE COST AND

SCHEDULE OF NET LEASE COST AND OTHER SUPPLEMENTAL LEASE INFORMATION (Details) - USD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Leases
Operating lease cost (cost resulting from lease payments)	$ 126,021	$ 122,349
Net lease cost	126,021	122,349
Operating lease – operating cash flows (fixed payments)	126,021	122,349
Operating lease – operating cash flows (liability reduction)	102,921	87,945
Non-current leases - right of use assets	154,726	270,772	$ 241,760
Current liabilities - operating lease liabilities	156,310	134,031	139,328
Non-current liabilities - operating lease liabilities	$ 42,414	$ 198,724	$ 162,317

SCHEDULE OF FUTURE MINIMUM PAYM

SCHEDULE OF FUTURE MINIMUM PAYMENTS UNDER NON-CANCELABLE LEASES FOR OPERATING LEASES (Details)	Sep. 30, 2023 USD ($)
Leases
Remainder of 2023	$ 42,007
2024	173,060
Total future minimum lease payments	215,067
Amount representing interest	(16,343)
Present value of net future minimum lease payments	$ 198,724

LEASES (Details Narrative)

LEASES (Details Narrative)	1 Months Ended	9 Months Ended
	Jun. 30, 2019 USD ($)	Sep. 30, 2023 USD ($) ft²
Weighted average incremental borrowing rate		12%
Melville Lease [Member]
Area of land | ft²		6,800
Lease extension description	the Company exercised its option to extend the Melville Lease and entered into a lease amendment with the lessor whereby the five-year extension term commenced on January 1, 2020 with annual base rent ranging between $153,748 and $173,060.
Melville Lease [Member] | Minimum [Member]
Rent expense	$ 153,748	$ 132,600
Melville Lease [Member] | Maximum [Member]
Rent expense	$ 173,060	$ 149,260

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)		1 Months Ended		3 Months Ended		9 Months Ended
	Jul. 13, 2023	Oct. 31, 2023	Apr. 30, 2023	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2023	Sep. 30, 2022
Subsequent Event [Line Items]
Proceeds from Issuance Initial Public Offering	$ 1,900,000					$ 411,710
Stock Issued During Period, Shares, New Issues						93,551
Proceeds from Issuance of Common Stock						$ 1,853,990
Common Stock [Member]
Subsequent Event [Line Items]
Stock Issued During Period, Shares, New Issues				685,033	93,551
Common Stock [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Stock Issued During Period, Shares, New Issues		39,276
Shares Issued, Price Per Share		$ 2.17
Proceeds from Issuance of Common Stock		$ 86,000
Common Stock [Member] | Demand Sales Agreement [Member]
Subsequent Event [Line Items]
Proceeds from Issuance Initial Public Offering			$ 5,486,000