Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2022 | Nov. 11, 2022 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001567900 | |
Entity Registrant Name | BLACKBOXSTOCKS INC. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2022 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2022 | |
Document Transition Report | false | |
Entity File Number | 001-41051 | |
Entity Incorporation, State or Country Code | NV | |
Entity Tax Identification Number | 45-3598066 | |
Entity Address, Address Line One | 5430 LBJ Freeway, Suite 1485 | |
Entity Address, City or Town | Dallas | |
Entity Address, State or Province | TX | |
Entity Address, Postal Zip Code | 75240 | |
City Area Code | 972 | |
Local Phone Number | 726-9203 | |
Title of 12(b) Security | Common Stock, par value $0.001 per share | |
Trading Symbol | BLBX | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 13,191,707 |
Balance Sheets (Current Period
Balance Sheets (Current Period Unaudited) - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 |
Current assets: | ||
Cash | $ 643,528 | $ 2,426,497 |
Accounts receivable, net of allowance for doubtful accounts of $68,589 at September 30, 2022 and December 31, 2021, respectively | 49,445 | 18,585 |
Inventory | 15,375 | 13,567 |
Marketable securities | 4,713,028 | 8,015,882 |
Prepaid expenses and other current assets | 84,866 | 227,440 |
Total current assets | 5,506,242 | 10,701,971 |
Property and equipment: | ||
Right of use lease, net of amortization of $195,121 and $150,829 at September 30, 2022 and December 31, 2021, respectively | 353,978 | 398,270 |
Total property and equipment | 450,678 | 448,143 |
Total assets | 5,956,920 | 11,150,114 |
Current liabilities: | ||
Accounts payable | 738,710 | 585,615 |
Accrued interest | 6,544 | 6,544 |
Unearned subscriptions | 638,305 | 1,302,036 |
Lease liability right of use, current | 71,354 | 62,630 |
Senior secured note payable, net of debt issuance costs of $6,655 and $46,597 at September 30, 2022 and December 31, 2021, respectively (Note 7) | 893,345 | 943,403 |
Note payable, current portion (Note 7) | 28,662 | 28,448 |
Total current liabilities | 2,376,920 | 2,928,676 |
Long term liabilities: | ||
Note payable, net of current portion (Note 7) | 46,823 | 68,347 |
Lease liability right of use, long term | 282,625 | 335,641 |
Total long term liabilities | 329,448 | 403,988 |
Commitments and contingencies (Note 8) | ||
Stockholders' equity | ||
Common stock, $0.001 par value, 100,000,000 shares authorized: 13,191,707 and 13,099,272 issued and outstanding at September 30, 2022 and December 31, 2021, respectively | 13,192 | 13,099 |
Common stock subscribed | 0 | 0 |
Common stock payable | 3,960 | 15,000 |
Treasury stock | (1,065,216) | 0 |
Additional paid in capital | 17,962,884 | 17,586,635 |
Accumulated deficit | (13,667,538) | (9,800,554) |
Total stockholders' equity | 3,250,552 | 7,817,450 |
Total liabilities and stockholders' equity | 5,956,920 | 11,150,114 |
Undesignated Preferred Stock [Member] | ||
Stockholders' equity | ||
Preferred Stock | 0 | 0 |
Series A Preferred Stock [Member] | ||
Stockholders' equity | ||
Preferred Stock | 3,270 | 3,270 |
Machinery and Equipment [Member] | ||
Property and equipment: | ||
Office, computer and related equipment, net of depreciation of $98,328 and $81,682 at September 30, 2022 and December 31, 2021, respectively | $ 96,700 | $ 49,873 |
Balance Sheets (Current Perio_2
Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 |
Accounts receivable, allowance for doubtful accounts | $ 68,589 | $ 68,589 |
Right of use lease, amortization | $ 195,121 | $ 150,829 |
Preferred stock, par value (in dollars per share) | $ 0.001 | |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock, shares issued (in shares) | 13,191,707 | 13,099,272 |
Common stock, shares outstanding (in shares) | 13,191,707 | 13,099,272 |
Undesignated Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Series A Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, shares issued (in shares) | 3,269,998 | 3,269,998 |
Preferred stock, shares outstanding (in shares) | 3,269,998 | 3,269,998 |
Convertible Notes Payable [Member] | ||
Debt issuance costs | $ 6,655 | $ 46,597 |
Machinery and Equipment [Member] | ||
Property and equipment, depreciation | $ 98,328 | $ 81,682 |
Statements of Operations (Unaud
Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Revenues | $ 1,219,150 | $ 1,471,814 | $ 3,890,951 | $ 4,425,088 |
Cost of revenues | 492,991 | 469,601 | 1,572,380 | 1,274,953 |
Gross margin | 726,159 | 1,002,213 | 2,318,571 | 3,150,135 |
Operating expenses: | ||||
Software development costs | 302,273 | 111,898 | 832,143 | 445,591 |
Selling, general and administrative | 1,199,233 | 1,098,427 | 3,615,430 | 2,320,841 |
Advertising and marketing | 417,433 | 286,057 | 1,242,573 | 840,557 |
Depreciation and amortization | 5,521 | 4,760 | 16,646 | 14,465 |
Total operating expenses | 1,924,460 | 1,501,142 | 5,706,792 | 3,621,454 |
Operating loss | (1,198,301) | (498,929) | (3,388,221) | (471,319) |
Other (income) expense: | ||||
Interest expense | 28,025 | 30,281 | 86,220 | 104,576 |
Amortization of debt discount and issuance costs | 13,314 | 10,171 | 39,942 | 194,267 |
Investment loss | 68,802 | 0 | 352,601 | 0 |
Gain on forgiveness of note payable | 0 | (33,405) | 0 | (33,405) |
Total other (income) expense | 110,141 | 7,047 | 478,763 | 265,438 |
Loss before income taxes | (1,308,442) | (505,976) | (3,866,984) | (736,757) |
Income taxes | 0 | 0 | 0 | 0 |
Net loss | $ (1,308,442) | $ (505,976) | $ (3,866,984) | $ (736,757) |
Weighted average number of common shares outstanding - basic and diluted (in shares) | 13,185,659 | 9,717,580 | 13,184,393 | 8,942,024 |
Net loss per share - basic and diluted (in dollars per share) | $ (0.10) | $ (0.05) | $ (0.29) | $ (0.08) |
Subscription and Circulation [Member] | ||||
Revenues | $ 1,210,474 | $ 1,466,363 | $ 3,877,028 | $ 4,412,536 |
Product and Service, Other [Member] | ||||
Revenues | $ 8,676 | $ 5,451 | $ 13,923 | $ 12,552 |
Statement of Stockholders' Equi
Statement of Stockholders' Equity (Deficit) (Unaudited) - USD ($) | Warrants Issued for Compensation [Member] Common Stock Payable [Member] | Warrants Issued for Compensation [Member] Additional Paid-in Capital [Member] | Warrants Issued for Compensation [Member] Retained Earnings [Member] | Warrants Issued for Compensation [Member] | Preferred Stock [Member] | Preferred Stock Outstanding [Member] Series A Preferred Stock [Member] | Common Stock [Member] | Common Stock, Subscribed [Member] | Common Stock Payable [Member] | Treasury Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2020 | 0 | 5,000,000 | 8,410,386 | ||||||||||
Balance at Dec. 31, 2020 | $ 0 | $ 5,000 | $ 8,410 | $ 12,500 | $ 0 | $ 0 | $ 5,401,154 | $ (7,184,818) | $ (1,757,754) | ||||
Issuance of shares for cash, net of fees (in shares) | 0 | 0 | 70,772 | ||||||||||
Issuance of shares for cash, net of fees | $ 0 | $ 0 | $ 71 | 0 | 0 | 0 | 137,935 | 0 | 138,006 | ||||
Issuance of subscribed shares (in shares) | 0 | 0 | 6,411 | ||||||||||
Issuance of subscribed shares | $ 0 | $ 0 | $ 6 | (12,500) | 0 | 0 | 12,494 | 0 | 0 | ||||
Issuance of shares in settlement of liabilities (in shares) | 0 | 0 | 103,308 | ||||||||||
Issuance of shares in settlement of liabilities | $ 0 | $ 0 | $ 104 | 0 | 0 | 0 | 201,346 | 0 | 201,450 | ||||
Issuance of shares from conversion of Series A preferred shares (in shares) | 0 | (1,730,002) | 1,730,002 | ||||||||||
Issuance of shares from conversion of Series A preferred shares | $ 0 | $ (1,730) | $ 1,730 | 0 | 0 | 0 | 0 | 0 | 0 | ||||
Issuance of warrants | $ 0 | $ 10,635 | $ 0 | $ 10,635 | 0 | 0 | 0 | 0 | 0 | ||||
Issuance of options for compensation | 0 | 0 | 0 | 0 | 0 | 0 | 422,899 | 0 | 422,899 | ||||
Net loss | $ 0 | $ 0 | $ 0 | 0 | 0 | 0 | 0 | (736,757) | (736,757) | ||||
Balance (in shares) at Sep. 30, 2021 | 0 | 3,269,998 | 10,320,879 | ||||||||||
Balance at Sep. 30, 2021 | $ 0 | $ 3,270 | $ 10,321 | 0 | 0 | 0 | 6,186,463 | (7,921,575) | (1,721,521) | ||||
Balance (in shares) at Dec. 31, 2021 | 0 | 3,269,998 | 13,099,272 | ||||||||||
Balance at Dec. 31, 2021 | $ 0 | $ 3,270 | $ 13,099 | 0 | 15,000 | 0 | 17,586,635 | (9,800,554) | 7,817,450 | ||||
Issuance of warrants | 0 | 0 | 0 | 0 | 0 | 0 | 95,640 | 0 | 95,640 | ||||
Issuance of options for compensation | 0 | 0 | 0 | 0 | 0 | 0 | 250,702 | 0 | 250,702 | ||||
Net loss | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (3,866,984) | (3,866,984) | ||||
Purchase of treasury stock | $ 0 | $ 0 | $ 0 | 0 | 0 | (1,065,216) | 0 | 0 | (1,065,216) | ||||
Cashless exercise of warrants (in shares) | 0 | 0 | 86,387 | ||||||||||
Cashless exercise of warrants | $ 0 | $ 0 | $ 87 | 0 | 0 | 0 | (87) | 0 | 0 | ||||
Common stock payable for compensation | $ 0 | $ 0 | $ 0 | 0 | 18,960 | 0 | 0 | 0 | 18,960 | ||||
Common stock issued for common stock payable (in shares) | 0 | 0 | 6,048 | ||||||||||
Common stock issued for common stock payable | $ 0 | $ 0 | $ 6 | 0 | (30,000) | 0 | 29,994 | 0 | 0 | ||||
Balance (in shares) at Sep. 30, 2022 | 0 | 3,269,998 | 13,191,707 | ||||||||||
Balance at Sep. 30, 2022 | $ 0 | $ 3,270 | $ 13,192 | $ 0 | $ 3,960 | $ (1,065,216) | $ 17,962,884 | $ (13,667,538) | $ 3,250,552 |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Cash flows from operating activities: | ||
Net loss | $ (3,866,984) | $ (736,757) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization expense | 16,646 | 14,465 |
Amortization of note discount and issuance costs | 39,942 | 234,208 |
Shares issued in settlement of services | 0 | 21,450 |
Stock based compensation | 365,302 | 433,534 |
Right of use lease | 0 | (4,366) |
Gain on forgiveness of note payable | 0 | (33,405) |
Investment loss | 352,601 | 0 |
Changes in operating assets and liabilities: | ||
Accounts receivable | (30,860) | 1,292 |
Inventory | (1,808) | (5,796) |
Prepaid expenses and other current assets | 142,574 | (70,075) |
Accounts payable | 153,095 | 181,237 |
Accrued interest | 0 | (4,129) |
Unearned subscriptions | (663,731) | (243,018) |
Net cash used in operating activities | (3,493,223) | (211,360) |
Cash flows from investing activities: | ||
Purchase of property and equipment | (63,473) | (60,610) |
Purchase of marketable securities | (22,573,384) | 0 |
Sale of marketable securities | 25,523,637 | 0 |
Net cash provided by (used in) investing activities | 2,886,780 | (60,610) |
Cash flows from financing activities: | ||
Common stock and warrants issued for cash | 0 | 138,006 |
Principal payments on senior secured note payable | (90,000) | 0 |
Principal payments on notes payable | (21,310) | (1,405) |
Principal payments on convertible notes payable | 0 | (416,197) |
Principal payments on notes payable, related parties | 0 | (859) |
Purchase of treasury stock | (1,065,216) | 0 |
Net cash used in financing activities | (1,176,526) | (280,455) |
Net decrease in cash | (1,782,969) | (552,425) |
Cash - beginning of period | 2,426,497 | 972,825 |
Cash - end of period | 643,528 | 420,400 |
Supplemental disclosures: | ||
Interest paid | 86,220 | 108,705 |
Income taxes paid | 0 | 0 |
Non-cash investing and financing activities: | ||
Common stock issued in settlement of common stock payable | 30,000 | 0 |
Common stock issued in settlement of accrued liabilities | 0 | 180,000 |
Preferred Stock Series A Converted to Common Stock [Member] | ||
Non-cash investing and financing activities: | ||
Preferred Series A shares converted to common shares | $ 0 | $ 1,730 |
Note 1 - Organization
Note 1 - Organization | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. Blackboxstocks Inc. (the “Company”) was incorporated on October 4, 2011, 11 The Company changed its name to Blackboxstocks, Inc. and began operating as a financial technology and social media platform in March 2016. may 10,000 1,500,000 September 2016. On November 10, 2021, |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. The accompanying interim unaudited financial statements and footnotes of Blackboxstocks Inc. have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and the instructions to Rule 10 01 X not not December 31, 2022. 10 December 31, 2021. Use of Estimates. Cash. three Investments in Marketable Securities. Recently Issued Accounting Pronouncements. September 30, 2022, no Earnings or (Loss) Per Share. The Company had total potential additional dilutive securities outstanding at September 30, 2022, September 30, 2022 Series A Convertible Preferred Shares 3,269,998 Conversion rate 0.2 Common shares after conversion 654,000 Option shares 670,242 Warrant shares 438,336 Revenue Recognition. not |
Note 3 - Marketable Securities
Note 3 - Marketable Securities | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 3. The Company determines the fair values of its financial instruments based on the fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The following three may Level 1 Level 2 Level 3 The Company’s marketable securities are highly liquid and are quoted on major exchanges and are therefore classified as Level 1 September 30, 2022: Level 1 Level 2 Level 3 Total Balance at December 31, 2021 $ 8,015,882 $ - $ - $ 8,015,882 Purchases 22,573,384 - - 22,573,384 Sales (25,523,637 ) - - (25,523,637 ) Change in fair value (352,601 ) - - (352,601 ) Balance at September 30, 2022 $ 4,713,028 $ - $ - $ 4,713,028 |
Note 4 - Stockholders' Equity (
Note 4 - Stockholders' Equity (Deficit) | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 4. Equity (Deficit) The Company has authorized 10,000,000 shares of preferred stock at $0.001 par value, 5,000,000 of which are designated as “Series A Convertible Preferred Stock” at $0.001 par value and 100,000,000 authorized shares of common stock at $0.001 par value (“Common Stock”). Shares of Series A Convertible Preferred Stock (“Series A Stock”) rank pari passu with the Company’s Common Stock with respect to dividend and liquidation rights. Additionally, each share entitles the holder to 100 2021, October 14, 2021, 1 1 ● If the Company’s Market Capitalization is less than $150,000,000, the outstanding Series A Stock will be convertible into Common Stock on a 5 1 ● If the Company’s Market Capitalization is equal to or greater than $150,000,000 but less than $200,000,000, 3.3 1 ● If the Company’s Market Capitalization is equal to or greater than $200,000,000 $250,000,000, 2.5 1 ● If the Company’s Market Capitalization is equal to or greater than $250,000,000 $350,000,000 1.75 1 ● If the Company’s Market Capitalization is equal to or greater than $350,000,000 1 1 The Agreement terminates when the last share of Series A Stock is either converted or the largest Market Capitalization Threshold is met. On January 4, 2022, 5 On January 7, 2022, December 31, 2022, $2,500,000 September 30, 2022, On August 11, 2022, third 12 September 30, 2022, |
Note 5 - Warrants to Purchase C
Note 5 - Warrants to Purchase Common Stock | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 5. The following table presents the Company’s warrants as of September 30, 2022: Number of Shares Weighted Average Exercise Price Weighted Average Remaining Life (in years) Warrants as of December 31, 2021 558,336 $ 3.28 5.09 Issued - $ - - Exercised (120,000 ) $ 1.00 3.28 Warrants as of September 30, 2022 438,336 $ 4.18 4.78 At September 30, 2022, |
Note 6 - Incentive Stock Plan
Note 6 - Incentive Stock Plan | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 5. The following table presents the Company’s warrants as of September 30, 2022: Number of Shares Weighted Average Exercise Price Weighted Average Remaining Life (in years) Warrants as of December 31, 2021 558,336 $ 3.28 5.09 Issued - $ - - Exercised (120,000 ) $ 1.00 3.28 Warrants as of September 30, 2022 438,336 $ 4.18 4.78 At September 30, 2022, |
Share-Based Payment Arrangement, Option [Member] | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 6. On August 4, 2021, 2021 “2021 August 31, 2021. October 7, 2022 2021 2021 On September 11, 2021, nine September 30, 2022, On August 11, twelve September 11, 2022, 25% twelve September 30, 2022, The following table presents the Company’s options as of September 30, 2022: Number of Shares Weighted Average Exercise Price Weighted Average Remaining Life (in years) Options as of December 31, 2021 675,833 $ 3.07 9.69 Issued 82,000 $ 1.77 10.00 Forfeited (87,591 ) $ 3.02 9.10 Exercised - $ - - Options as of September 30, 2022 670,242 $ 2.92 9.03 At September 30, 2022, |
Note 7 - Debt
Note 7 - Debt | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 7. Notes Payable On May 1, 2020, May 1, 2022. August 2021, December 2021, May 4, 2025. September 30, 2022 December 31, 2021, On November 12, 2020, November 12, 2022. one first September 30, 2022 December 31, 2021, On March 9, 2022 December 31, 2021 September 30, 2022. September 30, 2022. November 14, 2022 |
Note 8 - Commitments and Contin
Note 8 - Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 8. In August 2017 5430 September 2017 February 22, 2021 September 30, 2025. April 14, 2021, September 30, 2028. nine September 30, 2022, The table below shows the future lease payment obligations: Year Ending December 31, Amount 2022 $ 21,648 2023 87,934 2024 89,948 2025 91,122 2026 93,136 Thereafter 167,645 Total remaining lease payments $ 551,433 Less: imputed interest (197,454 ) Present Value of remaining lease payments $ 353,979 Current $ 71,354 Noncurrent $ 282,625 Weighted-average remaining lease term (years) 4.55 Weighted-average discount rate 10.00 % The Company is not |
Note 9 - Subsequent Events
Note 9 - Subsequent Events | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 9. On October 7, 2022 2021 6. On October 25, 2022, not 5550 2 5550 2 $1.00 5810 3 30 30 no no The Notification Letter provides that the Company has 180 April 24, 2023, 5550 2 $1.00 10 not April 24, 2023, may 180 second not second second The Company intends to monitor the closing bid price of its common stock and may, not As discussed in Note 7 November 14, 2022 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash. three |
Marketable Securities, Policy [Policy Text Block] | Investments in Marketable Securities. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Pronouncements. September 30, 2022, no |
Earnings Per Share, Policy [Policy Text Block] | Earnings or (Loss) Per Share. The Company had total potential additional dilutive securities outstanding at September 30, 2022, September 30, 2022 Series A Convertible Preferred Shares 3,269,998 Conversion rate 0.2 Common shares after conversion 654,000 Option shares 670,242 Warrant shares 438,336 |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition. not |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | September 30, 2022 Series A Convertible Preferred Shares 3,269,998 Conversion rate 0.2 Common shares after conversion 654,000 Option shares 670,242 Warrant shares 438,336 |
Note 3 - Marketable Securities
Note 3 - Marketable Securities (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Marketable Securities [Table Text Block] | Level 1 Level 2 Level 3 Total Balance at December 31, 2021 $ 8,015,882 $ - $ - $ 8,015,882 Purchases 22,573,384 - - 22,573,384 Sales (25,523,637 ) - - (25,523,637 ) Change in fair value (352,601 ) - - (352,601 ) Balance at September 30, 2022 $ 4,713,028 $ - $ - $ 4,713,028 |
Note 5 - Warrants to Purchase_2
Note 5 - Warrants to Purchase Common Stock (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Number of Shares Weighted Average Exercise Price Weighted Average Remaining Life (in years) Warrants as of December 31, 2021 558,336 $ 3.28 5.09 Issued - $ - - Exercised (120,000 ) $ 1.00 3.28 Warrants as of September 30, 2022 438,336 $ 4.18 4.78 |
Note 6 - Incentive Stock Plan (
Note 6 - Incentive Stock Plan (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Number of Shares Weighted Average Exercise Price Weighted Average Remaining Life (in years) Options as of December 31, 2021 675,833 $ 3.07 9.69 Issued 82,000 $ 1.77 10.00 Forfeited (87,591 ) $ 3.02 9.10 Exercised - $ - - Options as of September 30, 2022 670,242 $ 2.92 9.03 |
Note 8 - Commitments and Cont_2
Note 8 - Commitments and Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Year Ending December 31, Amount 2022 $ 21,648 2023 87,934 2024 89,948 2025 91,122 2026 93,136 Thereafter 167,645 Total remaining lease payments $ 551,433 Less: imputed interest (197,454 ) Present Value of remaining lease payments $ 353,979 Current $ 71,354 Noncurrent $ 282,625 Weighted-average remaining lease term (years) 4.55 Weighted-average discount rate 10.00 % |
Note 1 - Organization (Details
Note 1 - Organization (Details Textual) | Nov. 10, 2021 shares |
Stock Issued During Period, Shares, New Issues (in shares) | 2,400,000 |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies - Potential Additional Dilutive Securities Outstanding (Details) | 9 Months Ended |
Sep. 30, 2022 shares | |
Series A Convertible Preferred Shares (in shares) | 3,269,998 |
Conversion rate | 0.2 |
Common shares after conversion (in shares) | 654,000 |
Warrant [Member] | |
Warrant shares (in shares) | 438,336 |
Share-Based Payment Arrangement, Nonemployee [Member] | |
Option shares (in shares) | 670,242 |
Note 3 - Marketable Securitie_2
Note 3 - Marketable Securities - Summary of Assets Measured at Fair Value By Measurement Input Level (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Balance | $ 8,015,882 | |
Purchases | 22,573,384 | $ 0 |
Sales | (25,523,637) | $ 0 |
Change in fair value | (352,601) | |
Balance | 4,713,028 | |
Fair Value, Inputs, Level 1 [Member] | ||
Balance | 8,015,882 | |
Purchases | 22,573,384 | |
Sales | (25,523,637) | |
Change in fair value | (352,601) | |
Balance | 4,713,028 | |
Fair Value, Inputs, Level 2 [Member] | ||
Balance | 0 | |
Purchases | 0 | |
Sales | 0 | |
Change in fair value | 0 | |
Balance | 0 | |
Fair Value, Inputs, Level 3 [Member] | ||
Balance | 0 | |
Purchases | 0 | |
Sales | 0 | |
Change in fair value | 0 | |
Balance | $ 0 |
Note 4 - Stockholders' Equity_2
Note 4 - Stockholders' Equity (Deficit) (Details Textual) | 9 Months Ended | 12 Months Ended | |||||
Aug. 11, 2022 shares | Jan. 04, 2022 shares | Sep. 30, 2022 USD ($) $ / shares shares | Sep. 30, 2022 USD ($) $ / shares shares | Dec. 31, 2021 $ / shares shares | Jan. 07, 2022 USD ($) | Dec. 31, 2020 shares | |
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.001 | $ 0.001 | |||||
Common Stock, Shares Authorized (in shares) | 100,000,000 | 100,000,000 | 100,000,000 | ||||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.001 | $ 0.001 | $ 0.001 | ||||
Conversion of Stock, Shares Converted (in shares) | 3,269,998 | ||||||
Treasury Stock, Value, Acquired, Cost Method | $ | $ 1,065,216 | ||||||
Common Stock [Member] | Third-party Service Provider [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 36,000 | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares) | 3,000 | ||||||
Stock Repurchase Plan [Member] | |||||||
Stock Repurchase Program, Authorized Amount | $ | $ 2,500,000 | ||||||
Treasury Stock, Shares, Acquired (in shares) | 615,748 | ||||||
Treasury Stock, Value, Acquired, Cost Method | $ | $ 1,065,216 | ||||||
Share-Based Payment Arrangement, Nonemployee [Member] | |||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 86,387 | ||||||
Class of Warrant or Right, Cashless Exercise During Period, Shares (in shares) | 120,000 | ||||||
One for Five Share Basis [Member] | |||||||
Convertible Preferred Stock, Shares Issued upon Conversion (in shares) | 5 | 5 | |||||
One for Three Point ThreeShare Basis [Member] | |||||||
Convertible Preferred Stock, Shares Issued upon Conversion (in shares) | 3.3 | 3.3 | |||||
One for Two Point Five Share Basis [Member] | |||||||
Convertible Preferred Stock, Shares Issued upon Conversion (in shares) | 2.5 | 2.5 | |||||
One For One Point Seven Five Share Basis [Member] | |||||||
Convertible Preferred Stock, Shares Issued upon Conversion (in shares) | 1.75 | 1.75 | |||||
One For One Share Basis [Member] | |||||||
Convertible Preferred Stock, Shares Issued upon Conversion (in shares) | 1 | 1 | |||||
Total Preferred Stock [Member] | |||||||
Preferred Stock, Shares Authorized (in shares) | 10,000,000 | 10,000,000 | |||||
Series A Preferred Stock [Member] | |||||||
Preferred Stock, Shares Authorized (in shares) | 5,000,000 | 5,000,000 | 5,000,000 | ||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.001 | $ 0.001 | $ 0.001 | ||||
Preferred Stock, Number of Votes Per Share | 100 | 100 | |||||
Conversion of Stock, Shares Converted (in shares) | 1,730,002 | ||||||
Convertible Preferred Stock, Shares Issued upon Conversion (in shares) | 1 | ||||||
Series A Preferred Stock [Member] | Maximum [Member] | One for Five Share Basis [Member] | |||||||
Market Capitalization, Conversion Threshold, Value | $ | $ 150,000,000 | $ 150,000,000 | |||||
Series A Preferred Stock [Member] | Maximum [Member] | One for Three Point ThreeShare Basis [Member] | |||||||
Market Capitalization, Conversion Threshold, Value | $ | 200,000,000 | 200,000,000 | |||||
Series A Preferred Stock [Member] | Maximum [Member] | One for Two Point Five Share Basis [Member] | |||||||
Market Capitalization, Conversion Threshold, Value | $ | 250,000,000 | 250,000,000 | |||||
Series A Preferred Stock [Member] | Maximum [Member] | One For One Point Seven Five Share Basis [Member] | |||||||
Market Capitalization, Conversion Threshold, Value | $ | 350,000,000 | 350,000,000 | |||||
Series A Preferred Stock [Member] | Minimum [Member] | One for Three Point ThreeShare Basis [Member] | |||||||
Market Capitalization, Conversion Threshold, Value | $ | 150,000,000 | 150,000,000 | |||||
Series A Preferred Stock [Member] | Minimum [Member] | One for Two Point Five Share Basis [Member] | |||||||
Market Capitalization, Conversion Threshold, Value | $ | 200,000,000 | 200,000,000 | |||||
Series A Preferred Stock [Member] | Minimum [Member] | One For One Point Seven Five Share Basis [Member] | |||||||
Market Capitalization, Conversion Threshold, Value | $ | 250,000,000 | 250,000,000 | |||||
Series A Preferred Stock [Member] | Minimum [Member] | One For One Share Basis [Member] | |||||||
Market Capitalization, Conversion Threshold, Value | $ | $ 350,000,000 | $ 350,000,000 |
Note 5 - Warrants to Purchase_3
Note 5 - Warrants to Purchase Common Stock (Details Textual) | Sep. 30, 2022 USD ($) shares |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights, Vested (in shares) | 374,449 |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights, Unvested (in shares) | 63,887 |
Warrant, Nonvested, Cost Not yet Recognized, Amount | $ | $ 244,416 |
Note 5 - Warrants to Purchase_4
Note 5 - Warrants to Purchase Common Stock - Warrant Activity (Details) - $ / shares | 9 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Dec. 31, 2021 | |
Warrants outstanding, number of shares (in shares) | 558,336 | |
Warrants, average remaining life (Year) | 4 years 9 months 10 days | 5 years 1 month 2 days |
Issued, number of shares (in shares) | 0 | |
Exercised (in shares) | (120,000) | |
Exercised, average remaining life (Year) | 3 years 3 months 10 days | |
Exercised, number of shares (in shares) | 438,336 | 558,336 |
Minimum [Member] | ||
Warrants, exercise price (in dollars per share) | $ 3.28 | |
Issued, exercise price (in dollars per share) | 0 | |
Exercised, exercise price (in dollars per share) | 1 | |
Warrants, exercise price (in dollars per share) | $ 4.18 | $ 3.28 |
Note 6 - Incentive Stock Plan_2
Note 6 - Incentive Stock Plan (Details Textual) - The 2021 Incentive Stock Plan [Member] - USD ($) | 9 Months Ended | 21849 Months Ended | ||||
Oct. 07, 2022 | Sep. 11, 2022 | Aug. 11, 2022 | Sep. 11, 2021 | Sep. 30, 2022 | Sep. 30, 2022 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number (in shares) | 294,192 | 294,192 | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested, Number of Shares, Ending Balance (in shares) | 376,050 | 376,050 | ||||
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 530,130 | $ 530,130 | ||||
Restricted Stock [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 29,412 | 36,000 | 6,048 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares) | 6,048 | 3,000 | ||||
Restricted Stock [Member] | Share-Based Payment Arrangement, Tranche One [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25% | |||||
Restricted Stock [Member] | Share-Based Payment Arrangement, Tranche Two [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25% | |||||
Restricted Stock [Member] | Share-based Compensation Award, Tranche Four [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25% | |||||
Restricted Stock [Member] | Share-Based Payment Arrangement, Tranche Three [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25% | |||||
Subsequent Event [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized (in shares) | 500,000 | |||||
Common Stock, Capital Shares Reserved for Future Issuance (in shares) | 1,250,000 |
Note 6 - Incentive Stock Plan -
Note 6 - Incentive Stock Plan - Option Activity Under Stock Plan (Details) - The 2021 Incentive Stock Plan [Member] - $ / shares | 9 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Dec. 31, 2021 | |
Outstanding (in shares) | 675,833 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 3.07 | |
Options outstanding, weighted average remaining life (Year) | 9 years 10 days | 9 years 8 months 8 days |
Issued (in shares) | 82,000 | |
Issued, weighted average exercise price (in dollars per share) | $ 1.77 | |
Issued, weighted average remaining life (Year) | 10 years | |
Forfeited (in shares) | (87,591) | |
Forfeited, weighted average exercise price (in dollars per share) | $ 3.02 | |
Forfeited, weighted average remaining life (Year) | 9 years 1 month 6 days | |
Exercised (in shares) | 0 | |
Exercised, weighted average exercise price (in dollars per share) | $ 0 | |
Outstanding (in shares) | 670,242 | 675,833 |
Outstanding, weighted average exercise price (in dollars per share) | $ 2.92 | $ 3.07 |
Note 7 - Debt (Details Textual)
Note 7 - Debt (Details Textual) - USD ($) | 9 Months Ended | |||||
Nov. 12, 2020 | May 01, 2020 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | Aug. 31, 2021 | |
Repayments of Notes Payable | $ 21,310 | $ 1,405 | ||||
Paycheck Protection Program CARES Act [Member] | ||||||
Proceeds from Issuance of Long-term Debt, Total | $ 130,200 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 1% | 1% | ||||
Long-term Debt, Total | $ 96,795 | |||||
Notes Payable, Noncurrent, Total | 75,485 | $ 96,795 | ||||
Loan Agreement [Member] | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 12% | |||||
Debt Instrument, Face Amount | $ 1,000,000 | |||||
Secured Note Payable [Member] | ||||||
Notes Payable, Noncurrent, Total | $ 900,000 | $ 990,000 | ||||
Repayments of Notes Payable | 100,000 | |||||
Repayments of Trade Payables | $ 133,880 |
Note 8 - Commitments and Cont_3
Note 8 - Commitments and Contingencies (Details Textual) | 9 Months Ended | |||
Sep. 30, 2022 USD ($) | Feb. 21, 2021 ft² | Sep. 30, 2017 ft² | Aug. 31, 2017 ft² | |
Operating Lease, Expense | $ | $ 71,700 | |||
Office Space, 5430 LBJ Freeway Dallas Texas [Member] | ||||
Area of Real Estate Property (Square Foot) | 1,502 | |||
Expansion, Area of Real Estate Property (Square Foot) | 336 | |||
Expanded Office Space, 5430 LBJ Freeway Dallas Texas [Member] | ||||
Area of Real Estate Property (Square Foot) | 2,685 | 1,838 | ||
Expansion, Area of Real Estate Property (Square Foot) | 847 |
Note 8 - Commitments and Cont_4
Note 8 - Commitments and Contingencies - Future Lease Payment Obligations (Details) | Sep. 30, 2022 USD ($) |
2022 | $ 21,648 |
2023 | 87,934 |
2024 | 89,948 |
2025 | 91,122 |
2026 | 93,136 |
Thereafter | 167,645 |
Total remaining lease payments | 551,433 |
Less: imputed interest | (197,454) |
Present Value of remaining lease payments | 353,979 |
Current | 71,354 |
Noncurrent | $ 282,625 |
Weighted-average remaining lease term (years) (Year) | 4 years 6 months 18 days |
Weighted-average discount rate | 10% |
Note 9 - Subsequent Events (Det
Note 9 - Subsequent Events (Details Textual) - The 2021 Incentive Stock Plan [Member] - Subsequent Event [Member] | Oct. 07, 2022 shares |
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized (in shares) | 500,000 |
Common Stock, Capital Shares Reserved for Future Issuance (in shares) | 1,250,000 |