KULR Technology (KULR) 10-Q 15 Nov 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2021	Nov. 12, 2021
Document and Entity Information
Document Type	10-Q
Document Period End Date	Sep. 30, 2021
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-40454
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	81-1004273
Entity Address, Postal Zip Code	92111
City Area Code	408
Local Phone Number	663-5247
Entity Address, Address Line One	4863 Shawline Street,
Entity Address, City or Town	San Diego,
Entity Address, State or Province	CA
Entity Registrant Name	KULR TECHNOLOGY GROUP, INC.
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 Common Stock, Shares Outstanding		104,700,707
Title of 12(b) Security	Common Stock
Trading Symbol	KULR
Security Exchange Name	NYSE
Entity Central Index Key	0001662684
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Current Assets:
Cash	$ 10,990,056	$ 8,880,140
Accounts receivable	550,379	55,492
Inventory	190,766	55,452
Prepaid expenses and other current assets	450,756	150,468
Total Current Assets	12,181,957	9,141,552
Property and equipment, net	385,750	57,857
Equipment deposits	1,029,805	0
Security deposits	58,941	8,728
Right of use asset	730,115	0
Total Assets	14,386,568	9,208,137
Current Liabilities:
Accounts payable	67,359	66,537
Accounts payable - related party	0	2,628
Accrued expenses and other current liabilities	689,346	395,012
Notes payable, net of debt discount of $0 and $128,198 at September 30, 2021 and December 31, 2020, respectively	0	2,321,802
Accrued issuable equity	194,134	128,380
Loan payable, current portion	155,226	12,936
Lease liability, current portion	257,198	0
Deferred revenue	158,816	20,000
Total Current Liabilities	1,522,079	2,947,295
Lease liability, non-current portion	475,540	0
Loan payable, non-current portion	0	142,290
Total Liabilities	1,997,619	3,089,585
Commitments and contingencies (Note 11)
Stockholders' Equity:
Common stock, $0.0001 par value, 500,000,000 shares authorized; 100,992,963 and 89,908,600 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively	10,200	8,991
Additional paid-in capital	31,462,955	17,355,968
Accumulated deficit	(19,084,206)	(11,246,408)
Total Stockholders' Equity	12,388,949	6,118,552
Total Liabilities and Stockholders' Equity	14,386,568	9,208,137
Series A Preferred Stock
Stockholders' Equity:
Preferred stock
Series B Convertible Preferred Stock
Stockholders' Equity:
Preferred stock	0	1
Series C Preferred Stock
Stockholders' Equity:
Preferred stock	0	0
Series D Preferred Stock [Member]
Stockholders' Equity:
Preferred stock	$ 0	$ 0

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Debt discount, Current	$ 0	$ 128,198
Preferred Stock, Par Value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized	20,000,000	20,000,000
Common Stock, Par Value (in dollars per share)	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	500,000,000	500,000,000
Common Stock, Shares Issued	101,992,963	89,908,600
Common Stock, Shares Outstanding	101,992,963	89,908,600
Series A Preferred Stock
Preferred Stock, Shares Authorized	1,000,000	1,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Series B Convertible Preferred Stock
Preferred Stock, Shares Authorized	31,000	31,000
Preferred Stock, Shares Issued	0	13,972
Preferred Stock, Shares Outstanding	0	13,972
Preferred Stock Shares Liquidated Preference	$ 0	$ 13,972
Series C Preferred Stock
Preferred Stock, Shares Authorized	400	400
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Series D Preferred Stock [Member]
Preferred Stock, Shares Authorized	650	650
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Revenue	$ 600,921	$ 136,849	$ 1,647,070	$ 415,477
Cost of revenue	155,138	63,403	869,612	138,180
Gross Profit	445,783	73,446	777,458	277,297
Operating Expenses:
Research and development	481,855	51,820	957,579	221,524
Selling, general, and administrative	3,104,410	832,146	7,320,524	1,719,100
Total Operating Expenses	3,586,265	883,966	8,278,103	1,940,624
Loss From Operations	(3,140,482)	(810,520)	(7,500,645)	(1,663,327)
Other (Expense) Income
Interest expense, net	(758)	(1,284)	(2,389)	(5,004)
Debt redemption costs	0	0	(140,000)
Amortization of debt discount	0	(210,402)	(128,198)	(307,313)
Change in fair value of accrued issuable equity	45,600	9,947	(66,274)	(15,853)
Loss on foreign currency transactions	(292)	0	(292)
Total Other Expenses, net	44,550	(201,739)	(337,153)	(328,170)
Net Loss	(3,095,932)	(1,012,259)	(7,837,798)	(1,991,497)
Deemed dividend to Series D preferred stockholders	0	0	(2,624,326)
Net Loss Attributable to Common Stockholders	$ (3,095,932)	$ (1,012,259)	$ (10,462,124)	$ (1,991,497)
Net Loss Per Share - Basic and Diluted (In dollars per share)	$ (0.03)	$ (0.01)	$ (0.11)	$ (0.02)
Weighted Average Number of Shares Outstanding, Basic and Diluted	99,018,630	82,466,734	93,816,203	82,042,241

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIENCY) - USD ($)		Series B Convertible Preferred StockConvertible Preferred Stock	Series B Convertible Preferred StockCommon stock	Series B Convertible Preferred StockAdditional Paid-in Capital	Series C Convertible Preferred StockConvertible Preferred Stock	Series C Convertible Preferred StockCommon stock	Series C Convertible Preferred StockAdditional Paid-in Capital	Series D Convertible Preferred StockConvertible Preferred Stock	Common stockCommon stock	Common stockStock options.	Common stockMarket-Based Awards	Common stock	Shares to be Issued	Additional Paid-in CapitalCommon stock	Additional Paid-in CapitalStock options.	Additional Paid-in CapitalMarket-Based Awards	Additional Paid-in Capital	Accumulated Deficit [Member]Common stock	Accumulated Deficit [Member]Stock options.	Accumulated Deficit [Member]Market-Based Awards	Accumulated Deficit [Member]	Common stock	Stock options.	Market-Based Awards	Total
Balance at Dec. 31, 2019		$ 1										$ 8,107					$ 7,591,239				$ (8,396,312)				$ (796,965)
Balance (shares) at Dec. 31, 2019		14,487			24.01							81,071,831
Common stock issued for the commitment fee pursuant to the SEDA agreement												$ 10					63,249								63,259
Common stock issued for the commitment fee pursuant to the SEDA agreement (in shares)												95,847
Additional Paid in Capital, Amortization of Equity Options And Awards																	10,528								10,528
Net loss																					(550,253)				(550,253)
Balance at Mar. 31, 2020		$ 1										$ 8,117					7,665,016				(8,946,565)				(1,273,431)
Balance (shares) at Mar. 31, 2020		14,487			24.01							81,167,678
Balance at Dec. 31, 2019		$ 1										$ 8,107					7,591,239				(8,396,312)				(796,965)
Balance (shares) at Dec. 31, 2019		14,487			24.01							81,071,831
Net loss																									(1,991,497)
Balance at Sep. 30, 2020		$ 1										$ 8,304	$ 40,000				9,813,892				(10,387,809)				(525,612)
Balance (shares) at Sep. 30, 2020		13,972			18.90							83,036,226
Balance at Mar. 31, 2020		$ 1										$ 8,117					7,665,016				(8,946,565)				(1,273,431)
Balance (shares) at Mar. 31, 2020		14,487			24.01							81,167,678
Common stock issued for the commitment fee pursuant to the SEDA agreement												$ 56					679,381								679,437
Common stock issued for the commitment fee pursuant to the SEDA agreement (in shares)												561,564
Stock-based compensation												$ 3					29,997								30,000
Stock-based compensation (in shares)												30,000
Additional Paid in Capital, Amortization of Equity Options And Awards																	9,588								9,588
Net loss																					(428,985)				(428,985)
Balance at Jun. 30, 2020		$ 1										$ 8,176					8,383,982				(9,375,550)				(983,391)
Balance (shares) at Jun. 30, 2020		14,487			24.01							81,759,242
Common stock to be issued pursuant to the SEDA agreement													40,000												40,000
Stock-based compensation												$ 3					24,997								25,000
Stock-based compensation (in shares)												35,000
Common stock issued upon conversion of Convertible Preferred Stock			$ 3	$ (3)		$ 6	$ (6)
Common stock issued upon conversion of Convertible Preferred Stock (in shares)		(515)	25,758		(5.11)	56,777
Additional Paid in Capital, Amortization of Equity Options And Awards																	10,038								10,038
Common stock issued pursuant to the SEDA agreement for cash, net of issuance costs												$ 116					1,394,884								1,395,000
Common stock issued pursuant to the SEDA agreement for cash, net of issuance costs (in shares)												1,159,449
Net loss																					(1,012,259)				(1,012,259)
Balance at Sep. 30, 2020		$ 1										$ 8,304	$ 40,000				9,813,892				(10,387,809)				(525,612)
Balance (shares) at Sep. 30, 2020		13,972			18.90							83,036,226
Balance at Dec. 31, 2020		$ 1										$ 8,991					17,355,968				(11,246,408)				6,118,552
Balance (shares) at Dec. 31, 2020		13,972										89,908,600
Common stock issued upon conversion of Convertible Preferred Stock		$ (1)										$ 70					(69)				0				0
Common stock issued upon conversion of Convertible Preferred Stock (in shares)		(13,972)										698,600
Common stock issued for services												$ 2					49,798				0				49,800
Common stock issued for services (in shares)												20,000
Restricted common stock issued												$ 200					(200)				0				0
Restricted common stock issued (in shares)												2,000,000
Additional Paid in Capital, Amortization of Equity Options And Awards									$ 0	$ 0	$ 0			$ 126,625	$ 9,112	$ 130,245		$ 0	$ 0	$ 0		$ 126,625	$ 9,112	$ 130,245
Net loss												$ 0					0				(1,714,723)				(1,714,723)
Balance at Mar. 31, 2021												$ 9,263					17,671,479				(12,961,131)				4,719,611
Balance (shares) at Mar. 31, 2021												92,627,200
Balance at Dec. 31, 2020		$ 1										$ 8,991					17,355,968				(11,246,408)				$ 6,118,552
Balance (shares) at Dec. 31, 2020		13,972										89,908,600
Common stock issued for services (in shares)																									160,000
Net loss																									$ (7,837,798)
Balance at Sep. 30, 2021												$ 10,200					31,462,955				(19,084,206)				12,388,949
Balance (shares) at Sep. 30, 2021												101,992,963
Balance at Mar. 31, 2021												$ 9,263					17,671,479				(12,961,131)				4,719,611
Balance (shares) at Mar. 31, 2021												92,627,200
Issuance of Series D Convertible Preferred Stock, Common Stock and warrants for cash	[1]											$ 130					6,134,870				0				6,135,000
Issuance of Series D Convertible Preferred Stock, Common Stock and warrants for cash (in shares)	[1]							650				1,300,000
Common stock issued upon conversion of Series D Convertible Preferred Stock												$ 317					(317)				0				0
Common stock issued upon conversion of Series D Convertible Preferred Stock (in shares)								(650)				3,170,730
Common stock issued upon the exercise of warrants												$ 300					3,712,200				0				3,712,500
Common stock issued upon the exercise of warrants (in shares)												3,000,000
Common stock issued for services												$ 6					109,994				0				110,000
Common stock issued for services (in shares)												55,000
Restricted common stock issued												$ 42					(42)				0				0
Restricted common stock issued (in shares)												415,000
Additional Paid in Capital, Amortization of Equity Options And Awards									0	0	0			433,689	15,779	489,774		0	0	0		433,689	15,779	489,774
Net loss												$ 0					0				(3,027,143)				(3,027,143)
Balance at Jun. 30, 2021												$ 10,058					28,567,426				(15,988,274)				12,589,210
Balance (shares) at Jun. 30, 2021												100,567,930
Common stock issued upon the exercise of warrants												$ 119					1,494,097				0				1,494,216
Common stock issued upon the exercise of warrants (in shares)												1,185,033
Common stock issued for services												$ 9					186,391				0				$ 186,399
Common stock issued for services (in shares)												85,000													85,000
Restricted common stock issued												$ 15					(15)				0				$ 0
Restricted common stock issued (in shares)												155,000
Additional Paid in Capital, Amortization of Equity Options And Awards									$ 0	$ 0	$ 0			$ 440,333	$ 20,516	$ 754,207		$ 0	$ 0	$ 0		$ 440,333	$ 20,516	$ 754,207
Net loss												$ 0					0				(3,095,932)				(3,095,932)
Balance at Sep. 30, 2021												$ 10,200					$ 31,462,955				$ (19,084,206)				$ 12,388,949
Balance (shares) at Sep. 30, 2021												101,992,963
[1]	Represents gross proceeds of $6,500,000, net of cash issuance costs of $365,000.

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIENCY) (Parenthetical)	3 Months Ended
	Sep. 30, 2020USD ($)
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIENCY)
Proceeds from Issuance of Common Stock	$ 757,695
Amortized deferred offering costs	$ 78,258

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020
Cash Flows From Operating Activities:
Net loss		$ (7,837,798)	$ (1,991,497)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization of debt discount		128,198	307,313
Depreciation and amortization expense		29,166	10,573
Bad debt expense		0	933
Change in fair value of accrued issuable equity		66,274	15,853
Stock-based compensation		2,765,959	252,831
Changes in operating assets and liabilities:
Accounts receivable		(494,887)	(40,915)
Inventory		(135,314)	(21,070)
Prepaid expenses and other current assets		(300,288)	(97,267)
Security deposits		(50,213)	0
Right of use asset		84,702	0
Accounts payable		(1,806)	(254,260)
Accrued expenses and other current liabilities		294,334	(280,129)
Lease liability		(82,079)	0
Deferred revenue		138,816	21,600
Total Adjustments		2,442,862	(84,538)
Net Cash Used In Operating Activities		(5,394,936)	(2,076,035)
Cash Flows From Investing Activities:
Deposits for equipment purchases		(1,029,805)	0
Purchase of property and equipment		(357,059)	(46,087)
Net Cash Used In Investing Activities		(1,386,864)	(46,087)
Cash Flows from Financing Activities:
Proceeds from sale of Series D convertible preferred stock, common stock and warrants		6,500,000	0
Proceeds from sale of common stock	[1]	0	1,461,695
Repayments of notes payable		(2,450,000)	(159,000)
Proceeds from the exercise of warrants		5,206,716	0
Proceeds from Paycheck Protection Program loan		0	155,226
Proceeds from note payable		0	3,710,000
Payment of debt issuance costs		0	(330,000)
Payment of financing costs		(365,000)	(15,000)
Net Cash Provided By Financing Activities		8,891,716	4,822,921
Net Increase In Cash		2,109,916	2,700,799
Cash - Beginning of Period		8,880,140	108,857
Cash - End of Period		10,990,056	2,809,656
Cash paid during the period for:
Interest		735	3,890
Income taxes			0
Non-cash investing and financing activities:
Right of use asset for lease liability		814,817	0
Beneficial conversion feature on Series D convertible preferred stock		2,624,326
Common stock issued as a commitment fee for the SEDA agreement			63,259
Deferred offering costs reclassified to equity			13,042
Original issuance discount on note payable			290,000
Common stock issued in satisfaction of accrued issuable equity		209,200	0
Common stock issued for repayment of note payable			691,000
Subscriptions receivable for accrued issuable equity			40,000
Series B Convertible Preferred Stock
Non-cash investing and financing activities:
Common stock issued upon conversion		70	3
Series C Convertible Preferred Stock
Non-cash investing and financing activities:
Common stock issued upon conversion		0	6
Series D Convertible Preferred Stock
Non-cash investing and financing activities:
Beneficial conversion feature on Series D convertible preferred stock		2,624,326	0
Common stock issued upon conversion		$ 317	$ 0
[1]	For the nine months ended September 30, 2020, the amount represents gross proceeds of $2,152,695 less $691,000 withheld by the investor to pay down a portion of the note payable held by the same investor.

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical)	9 Months Ended
	Sep. 30, 2020USD ($)
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
Proceeds from sale of common stock	$ 2,152,695
Proceeds from issuance withheld by investors	$ 691,000

ORGANIZATION, NATURE OF OPERATI

ORGANIZATION, NATURE OF OPERATIONS AND BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2021
ORGANIZATION, NATURE OF OPERATIONS AND BASIS OF PRESENTATION
ORGANIZATION, NATURE OF OPERATIONS AND BASIS OF PRESENTATION	NOTE 1 ORGANIZATION, NATURE OF OPERATIONS AND BASIS OF PRESENTATION Organization and Operations KULR Technology Group, Inc., through its wholly-owned subsidiary, KULR Technology Corporation (collectively referred to as “KULR” or the “Company”), develops and commercializes high-performance thermal management technologies for electronics, batteries, and other components across a range of applications. Currently, the Company is focused on targeting high performance aerospace and Department of Defense ("DOD") applications, such as satellite communications, directed energy systems and hypersonic vehicles, and applying them to mass market commercial applications, such as lithium-ion battery energy storage, electrical vehicles, 5G communication, cloud computer infrastructure, and consumer and industrial devices. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and disclosures required by U.S. GAAP for annual financial statements. In the opinion of management, such statements include all adjustments (consisting only of normal recurring items) which are considered necessary for a fair presentation of the unaudited condensed consolidated financial statements of the Company as of September 30, 2021 and for the three and nine months ended September 30, 2021 and 2020. The results of operations for the three and nine months ended September 30, 2021 are not necessarily indicative of the operating results for the full year ending December 31, 2021 or any other period. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited financial statements and related disclosures as of December 31, 2020 and for the year then ended, which were filed with the Securities and Exchange Commission (“SEC”) on Form 10-K on March 19, 2021. ​ Risks and Uncertainties In March 2020, the World Health Organization declared COVID-19, a novel strain coronavirus, a pandemic. During 2020 and continuing into 2021, the global economy has been, and continues to be, affected by COVID-19. While the Company continues to see signs of economic recovery as certain governments begin to gradually ease restrictions, provide economic stimulus and accelerate vaccine distribution, the rate of recovery on a global basis has been affected by resurgence of the virus or its variants in certain jurisdictions. The Company continues to monitor the impact of COVID-19 on its business and operational assumptions and estimates and has determined there were no material adverse impacts on the Company’s results of operations and financial position at September 30, 2021. The full extent of the future impact of COVID-19 on the Company’s operations and financial condition is uncertain. Accordingly, COVID-19 could have a material adverse effect on the Company’s business, results of operations, financial condition and prospects during 2021 and beyond, including the demand for its products, interruptions to supply chains, ability to maintain regular research and development and manufacturing schedules as well as the capability to meet customer demands in a timely manner. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Since the date of the Annual Report on Form 10-K for the year ended December 31, 2020, there have been no material changes to the Company’s significant accounting policies, except as disclosed in this note. Liquidity During the nine months ended September 30, 2021, the Company raised gross proceeds of $6,500,000 in connection with the sale of preferred stock, common stock and warrants, and raised proceeds of $5,206,716 in connection with the exercise of warrants to purchase common stock. During the nine months ended September 30, 2021, the Company repaid outstanding notes payable in the amount of $2,450,000. Subsequent to September 30, 2021, the Company received an aggregate of $6,500,000 in connection with the exercise of warrants. See Note 12 – Subsequent Events for additional details. As of September 30, 2021, the Company had cash of $10,990,056 and working capital of $10,659,878. While the Company anticipates it will continue to incur operating losses and use cash in operating activities for the foreseeable future, the Company believes that its current working capital is sufficient in comparison to its anticipated cash usage for a period of at least twelve months subsequent to the filing date of these financial statements. Concentrations of Credit Risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, accounts receivable, revenue and accounts payable. Cash Concentrations A significant portion of the Company’s cash is held at one major financial institution. The Company has not experienced any losses in such accounts. Cash held in US bank institutions is currently insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000 at each institution. There was an uninsured balance of $10,489,922 and $8,513,010 as of September 30, 2021 and December 31, 2020, respectively. Customer and Revenue Concentrations The Company had certain customers whose revenue individually represented 10% or more of the Company's total revenue, or whose accounts receivable balances individually represented 10% or more of the Company's total accounts receivable, as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenues ​ Accounts Receivable ​ ​ For the Three Months Ended ​ For the Nine Months Ended ​ ​ ​ ​ ​ ​ September 30, ​ September 30, ​ As of As of ​ 2021 2020 2021 2020 September 30, 2021 ​ December 31, 2020 Customer A 88 % * ​ 41 % * ​ 96 % * ​ Customer B * ​ 26 % * ​ * ​ * ​ 70 % Customer C * ​ * ​ * ​ 12 % * * ​ Customer D * ​ * 40 % * ​ * ​ * ​ Customer E * ​ 35 % * ​ 44 % * ​ * ​ Customer F * ​ 12 % * ​ * * ​ * ​ Customer G ​ * ​ * ​ * ​ * ​ * ​ 19 % Customer H ​ * ​ * ​ * ​ * ​ * ​ 10 % Total 88 % 73 % 81 % 56 % 96 % 99 % ​ * Less than 10% ​ There is no assurance the Company will continue to receive significant revenues from any of these customers. Any reduction or delay in operating activity from any of the Company’s significant customers, or a delay or default in payment by any significant customer, or termination of agreements with significant customers, could materially harm the Company’s business and prospects. As a result of the Company’s significant customer concentrations, its gross profit and results from operations could fluctuate significantly due to changes in political, environmental, or economic conditions, or the loss of, reduction of business from, or less favorable terms with any of the Company’s significant customers. Vendor Concentrations Vendor concentrations are as follows for the three and nine months ended September 30, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended For the Nine Months Ended ​ ​ September 30, September 30, ​ ​ 2021 2020 2021 2020 ​ Vendor A * ​ 29 % * ​ 17 % Vendor B * ​ 13 % * * ​ Vendor C * ​ * ​ * ​ 11 % Vendor D * ​ * ​ * ​ 13 % Vendor E ​ * ​ 11 % * ​ * ​ Vendor F ​ * ​ * ​ 11 % * ​ Vendor G 26 % * ​ 11 % * ​ Vendor H 10 % * ​ * ​ * ​ Vendor I ​ 12 % * ​ * ​ * ​ ​ 48 % 53 % 22 % 41 % ​ * Less than 10% Inventory Inventory is comprised of carbon fiber velvet ("CFV") thermal interface solutions and internal short circuit batteries, which are available for sale. Inventories are stated at the lower of cost or net realizable value. Cost is determined by the first-in, first-out method. The cost of inventory that is sold to third parties is included within cost of sales and the cost of inventory that is given as samples is included within operating expenses. The Company periodically reviews for slow-moving, excess or obsolete inventories. Products that are determined to be obsolete, if any, are written down to net realizable value. As of September 30, 2021 and December 31, 2020, the Company's inventory was comprised solely of finished goods. Revenue Recognition The Company recognizes revenue in accordance with Accounting Standards Codification (“ASC”) Topic 606, “Revenue from Contracts with Customers” (“ASC 606”). The core principle of ASC 606 requires that an entity recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. ASC 606 defines a five-step process to achieve this core principle and, in doing so, it is possible more judgment and estimates may be required within the revenue recognition process, including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. The following five steps are applied to achieve the core principle of ASC 606: ● Step 1: Identify the contract with the customer; ● Step 2: Identify the performance obligations in the contract; ● Step 3: Determine the transaction price; ● Step 4: Allocate the transaction price to the performance obligations in the contract; and ● Step 5: Recognize revenue when the company satisfies a performance obligation. The Company recognizes revenue primarily from the following different types of contracts: ● Product sales – Revenue is recognized at the point in time that the product is transferred to the customer, which is generally at the time products leave the Company’s distribution center. ● Contract services – Revenue is recognized at the point in time that the Company satisfies its performance obligation under the contract, which is generally at the time the services are fulfilled and/or accepted by the customer. The following table summarizes the Company's revenue recognized during the three and nine months ended September 30, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended ​ For the Nine Months Ended ​ ​ September 30, ​ September 30, ​ 2021 2020 2021 2020 Product sales ​ $ 600,921 ​ $ 136,849 ​ $ 1,356,530 ​ $ 235,979 Contract services ​ — ​ — ​ 290,540 ​ 179,498 Total revenue ​ $ 600,921 ​ $ 136,849 ​ $ 1,647,070 ​ $ 415,477 ​ As of September 30, 2021 and December 31, 2020, the Company had $158,816 and $20,000 of deferred revenue, respectively, from contracts with customers. The contract liabilities represent payments received from customers for which the Company had not yet satisfied its performance obligation under the contract, or the customers have not officially accepted the goods or services provided under the contract. During the three and nine months ended September 30, 2021 and 2020, there was no revenue recognized from performance obligations satisfied (or partially satisfied) in previous periods. As of September 30, 2021 and December 31, 2020, the Company had $62,908 and $31,212, respectively, of deferred labor costs, which is included in prepaid expenses and other current assets in the Company's condensed consolidated balance sheets. Deferred labor costs represent costs to fulfill the Company's contract service revenue. The Company will recognize the deferred labor costs as cost of revenues at the point in time that the Company satisfies its performance obligation under the respective contract, which is generally at the time the services are fulfilled and/or accepted by the customer. Shipping and Handling Costs Amounts billed to a customer in a sales transaction related to shipping and handling are recorded as revenue. Costs incurred for shipping and handling are included as cost of revenues on the accompanying condensed consolidated statements of operations. Net Loss Per Common Share Basic net loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding during the period, less unvested issued restricted stock. Diluted net loss per common share is computed by dividing net loss by the weighted average number of common and dilutive common-equivalent shares outstanding during each period, if not antidilutive. The following shares were excluded from the calculation of weighted average dilutive common shares because their inclusion would have been anti-dilutive: ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ 2021 2020 Series B Convertible Preferred Stock — 698,600 Series C Convertible Preferred Stock ​ — ​ 189,000 Unvested restricted stock ​ 2,615,000 ​ — Market-based equity awards ​ 3,000,000 ​ — Options 590,000 395,000 Warrants ​ 5,202,878 ​ 210,025 Total 11,407,878 1,492,625 ​ Reclassifications Certain amounts in the prior period financial statements have been reclassified to conform to the current period presentation. These reclassifications had no effect on reported consolidated net loss. ​ Recently Adopted Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (the "FASB") issued ASU 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes," which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. The Company adopted ASU 2019-12 effective January 1, 2021 and its adoption did not have a material impact on the Company's condensed consolidated financial statements and related disclosures. ​ Recently Issued Accounting Pronouncements In August 2020, the FASB issued ASU 2020-06, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity. Earnings per Share On May 3, 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt—Modifications and Extinguishments (Subtopic 470-50), Compensation—Stock Compensation (Topic 718), and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options. This new standard provides clarification and reduces diversity in an issuer’s accounting for modifications or exchanges of freestanding equity-classified written call options (such as warrants) that remain equity classified after modification or exchange. This standard is effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Issuers should apply the new standard prospectively to modifications or exchanges occurring after the effective date of the new standard. Early adoption is permitted, including adoption in an interim period. If an issuer elects to early adopt the new standard in an interim period, the guidance should be applied as of the beginning of the fiscal year that includes that interim period. The Company does not expect this new standard to have a material impact on its financial statements. ​ Subsequent Events The Company evaluates events that have occurred after the balance sheet date but before the financial statements are issued. Based upon the evaluation, the Company did not identify any recognized or non-recognized subsequent events that would have required adjustment or disclosure in the condensed consolidated financial statements, except as disclosed.

PREPAID EXPENSES AND OTHER CURR

PREPAID EXPENSES AND OTHER CURRENT ASSETS	9 Months Ended
	Sep. 30, 2021
PREPAID EXPENSES AND OTHER CURRENT ASSETS
PREPAID EXPENSES AND OTHER CURRENT ASSETS	NOTE 3 PREPAID EXPENSES AND OTHER CURRENT ASSETS As of September 30, 2021 and December 31, 2020, prepaid expenses and other current assets consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, December 31, ​ 2021 2020 Deferred labor costs ​ $ 62,908 ​ $ 31,212 Filing ​ ​ 2,729 ​ ​ 9,944 Insurance ​ ​ 66,572 ​ ​ 16,035 Marketing ​ ​ 115,794 ​ ​ 58,103 Other ​ ​ 11,662 ​ ​ 25,820 Professional fees ​ ​ 63,582 ​ ​ 9,354 Subscriptions ​ ​ 30,009 ​ ​ — Vendor deposits ​ ​ 97,500 ​ ​ — Total prepaid expenses ​ $ 450,756 ​ $ 150,468 ​

EQUIPMENT DEPOSITS

EQUIPMENT DEPOSITS	9 Months Ended
	Sep. 30, 2020
EQUIPMENT DEPOSITS
EQUIPMENT DEPOSITS	NOTE 4 EQUIPMENT DEPOSITS The Company entered into agreements with third party contractors for the design and build of a battery packaging and inspection automation system and a cell testing system. On July 22, 2021 and September 27, 2021, the Company paid deposits of $330,000 and $699,805 in connection with these agreements.

ACCRUED EXPENSES AND OTHER CURR

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	9 Months Ended
	Sep. 30, 2021
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	NOTE 5 ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES As of September 30, 2021 and December 31, 2020, accrued expenses and other current liabilities consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2021 2020 Board compensation ​ $ 60,808 ​ $ — Payroll and vacation ​ ​ 219,547 ​ ​ 278,854 Legal and professional fees ​ 232,200 ​ 81,902 Research and development ​ 97,222 ​ — Other ​ 79,569 ​ 34,256 Total accrued expenses and other current liabilities ​ $ 689,346 ​ $ 395,012 ​

ACCRUED ISSUABLE EQUITY

ACCRUED ISSUABLE EQUITY	9 Months Ended
	Sep. 30, 2021
ACCRUED ISSUABLE EQUITY.
ACCRUED ISSUABLE EQUITY	NOTE 6 ACCRUED ISSUABLE EQUITY A summary of the accrued issuable equity activity during the nine months ended September 30, 2021 is presented below. ​ ​ ​ ​ ​ Balance, January 1, 2021 $ 128,380 Additions ​ 208,680 Reclassifications to equity upon issuance ​ ​ (209,200) Mark-to market ​ ​ 66,274 Balance, September 30, 2021 ​ $ 194,134 ​ During the nine months ended September 30, 2021, the Company entered into certain contractual arrangements for services in exchange for a fixed number of shares of common stock of the Company, having an aggregate grant date value of $208,680, and settled certain of its accrued issuable equity obligations through the issuance of an aggregate of 100,000 shares with an aggregate fair value of $209,200. ​ During the three and nine months ended September 30, 2021, the Company recorded income of $45,600 and a charge of $66,274, respectively, related to the change in fair value of accrued issuable equity.

LEASES

LEASES	9 Months Ended
	Sep. 30, 2021
LEASES
LEASES	NOTE 7 LEASES On April 5, 2021, the Company entered into a new lease agreement for office space in San Diego, California, effective June 1, 2021. The initial lease term is three years and there is an option ​ The Company determined that the value of the lease liability and the related right-of-use asset at inception was $814,817, using an estimated incremental borrowing rate of 5%. ​ The Company also rents office space in San Diego, California on a month-to-month basis, at monthly rent of $5,127, which is comprised of $4,572 of base rent plus $555 of association fees. ​ During the three and nine months ended September 30, 2021, aggregate operating lease expense was $89,305 and $144,765, respectively. For the three and nine months ended September 30, 2020, operating lease expense was $15,616 and $42,832, respectively. As of September 30, 2021, the Company did not have any financing leases. ​ Maturities of lease liabilities as of September 30, 2021 were as follows: ​ ​ ​ ​ ​ Maturity Date ​ Remaining three months ending December 31, 2021 ​ $ 71,361 2022 ​ 289,981 2023 ​ 297,917 2024 ​ 125,530 Total lease payments ​ 784,789 Less: Imputed interest ​ (52,051) Present value of lease liabilities ​ 732,738 Less: current portion ​ (257,198) Lease liabilities, non-current portion ​ $ 475,540 ​ Supplemental cash flow information related to the lease was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Nine Months Ended September 30, ​ 2021 2020 Cash paid for amounts included in the measurement of lease liabilities ​ ​ ​ ​ ​ ​ Operating cash flows from operating lease ​ $ 82,079 ​ $ — ​ ​ ​ ​ ​ ​ ​ Right-of-use asset obtained in exchange for lease obligations ​ ​ ​ ​ ​ ​ Operating lease ​ $ 814,817 ​ $ — ​

NOTES PAYABLE

NOTES PAYABLE	9 Months Ended
	Sep. 30, 2021
NOTES PAYABLE
NOTES PAYABLE	NOTE 8 NOTES PAYABLE A summary of notes payable activity during the nine months ended September 30, 2021 is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Notes ​ Debt ​ ​ ​ Payable Discount Total Balance, January 1, 2021 ​ $ 2,450,000 ​ $ (128,198) ​ $ 2,321,802 Repayments in cash ​ (2,450,000) ​ — ​ (2,450,000) Amortization of debt discount ​ — ​ 128,198 ​ 128,198 Outstanding, September 30, 2021 ​ $ — ​ $ — ​ $ — ​

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2021
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 9 RELATED PARTY TRANSACTIONS During the three and nine months ended September 30, 2021, the Company had no material related party transactions. Accounts Payable – Related Party Accounts payable – related party consisted of a liability of $0 and $2,628, as of September 30, 2021 and December 31, 2020, respectively, to Energy Science Laboratories, Inc. (“ESLI”), a company controlled by the Company’s Chief Technology Officer (“CTO”), in connection with consulting services provided to the Company associated with the development of the Company’s CFV thermal management solutions in prior periods.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	9 Months Ended
	Sep. 30, 2021
STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY	NOTE 10 STOCKHOLDERS’ EQUITY Series D Preferred Stock On May 19, 2021, the Company entered into a Securities Purchase Agreement (“SPA”) with an investor, pursuant to which the Company agreed to issue to the investor an aggregate of 650 shares of Series D convertible preferred stock (the “Series D Preferred”) pursuant to a new designation of preferred stock, and one-year warrants to purchase 2,600,000 shares of common stock (the “Warrants”) at a price of $2.50 per share, for aggregate gross proceeds of $6,500,000 (the “Offering”). The Company also agreed to pay the investor a commitment fee of 1,300,000 shares of common stock at the closing of the Offering. The closing of the Offering occurred on May 20, 2021. In connection with the closing of the financing, the Company repaid in full its aggregate remaining notes payable obligation of $1,400,000. The Series D Preferred have a fixed conversion price of $2.05, are convertible into an aggregate of 3,170,732 shares of common stock and have the right to vote on an as-converted basis. Holders of the Series D Preferred shall be entitled to receive cumulative dividends annually at an annual rate equal to ten percent (10%). Dividends shall be payable in cash or, at the option of the holder of the Series D Preferred, converted into shares of common stock as provided in the certificate of designation for the Series D Preferred. Provided that the shares of common stock issuable upon conversion of the Series D Preferred is registered pursuant to an effective registration statement, the Company shall have the option, but not the obligation, to redeem, in cash, all or part of the Series D Preferred. The Company determined that the Series D Preferred was permanent equity given that there was no redemption provision at the holder’s option and it was determined that the conversion option was clearly and closely related to the equity host, so it didn’t need to be bifurcated. The Company further determined that the $10,000 cash structuring fee paid to the investor, would be accounted for as a reduction of the $6,500,000 of gross proceeds. The remaining proceeds of $6,490,000 were allocated on a relative fair value basis to the Series D Preferred ($3,875,675), the commitment shares ($1,339,582) and the Warrant ($1,274,743). The Company used the Black-Scholes option pricing model to determine the fair value of the Warrant using the following assumptions: exercise price of $2.50 per share, market price of $2.05 per share, expected term of 1.0 year, volatility of 142% and a risk-free interest rate of 0.05%. Finally, the Company determined that the Series D Preferred had a beneficial conversion feature equal to $2,624,326 which is a deemed dividend and represents an adjustment to the numerator in the loss per share calculation. The cash issuance costs of $365,000 (inclusive of the $10,000 cash structuring fee) were charged to additional paid-in-capital. On June 17, 2021, all of the outstanding shares of Series D Preferred were converted into common stock. See “Common Stock”, below. Common Stock ​ On May 20, 2021, the Company issued 1,300,000 shares of common stock with an issuance date value of $2,665,000 as a commitment fee to the investor, for the purchase of Series D Preferred. The value of the shares of common stock issued was accounted for as a reduction of the proceeds from the sale of the Series D Preferred. ​ On June 17, 2021, the Company issued 3,170,730 shares of common stock upon the conversion of 650 shares of Series D Preferred, after which no Series D Preferred shares remained outstanding. ​ Stock-Based Compensation ​ During the three month and nine months ended September 30, 2021, the Company recognized stock-based compensation expense of $1,292,096 and $2,765,959, respectively of which $0 and $15,190, respectively, is included in research and development expenses, and $1,292,096 and $2,750,770, respectively, is included in selling, general and administrative expenses in the accompanying condensed consolidated statements of operations. During the three and nine months ended September 30, 2020, the Company recognized stock-based compensation expense of $158,014 and $252,831, respectively, of which $7,424 and $22,961, respectively was charged to research and development expense and $150,590 and $229,870, respectively is included in selling, general and administrative expenses in the accompanying condensed consolidated statements of operations. ​ The following table presents information related to stock-based compensation for the three months and nine months ended September 30, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended ​ For the Nine Months Ended ​ September 30, ​ September 30, ​ 2021 2020 2021 2020 Common stock for services ​ $ 77,040 ​ $ 147,976 ​ $ 345,679 ​ $ 222,676 Amortization of restricted common stock ​ 440,333 ​ — ​ 1,000,647 ​ — Amortization of market-based awards ​ 754,207 ​ — ​ 1,374,226 ​ — Stock options ​ 20,516 ​ 10,038 ​ 45,407 ​ 30,155 Total ​ $ 1,292,096 ​ $ 158,014 ​ $ 2,765,959 ​ $ 252,831 ​ Common Stock Issued for Services ​ For the three and nine months ended September 30, 2021, the Company issued 85,000 and 160,000 shares of immediately vested common stock, respectively, having an aggregate grant date value of $186,399 and $346,199, respectively. ​ Warrants During the three and nine months ended September 30, 2021, the Company issued an aggregate of 1,185,033 and 4,185,033 shares of common stock, respectively, in connection with exercises of outstanding warrants pursuant to which we received gross proceeds in the aggregate amount of $1,494,216 and $5,206,716, respectively. A summary of warrants activity during the nine months ended September 30, 2021 is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ Weighted ​ ​ ​ ​ ​ ​ ​ Average ​ Average ​ ​ ​ ​ ​ Number of ​ Exercise ​ Remaining ​ Intrinsic ​ Warrants Price Term (Yrs) Value Outstanding, January 1, 2021 6,787,911 ​ $ 1.25 ​ Issued 2,600,000 ​ 2.50 ​ Exercised (4,185,033) ​ (1.24) ​ Expired — ​ — ​ Forfeited — ​ — ​ Outstanding, September 30, 2021 5,202,878 ​ $ 1.88 4.4 ​ $ 2,158,307 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exercisable, September 30, 2021 5,202,878 ​ $ 1.88 4.4 ​ $ 2,158,307 ​ The following table presents information related to warrants as of September 30, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ Warrants Outstanding ​ Warrants Exercisable ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ Outstanding ​ Average ​ Exercisable Exercise ​ Number of ​ Remaining Life ​ Number of Price Warrants In Years Warrants $ 1.25 2,594,553 4.3 2,594,553 $ 1.50 8,325 0.2 8,325 $ 2.50 2,600,000 4.6 2,600,000 ​ ​ 5,202,878 4.4 5,202,878 ​ Restricted Common Stock ​ The following table presents information related to restricted common stock (excluding Market-Based Awards) as of September 30, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ Shares of Restricted ​ Grant Date ​ Common Stock Fair Value Non-vested balance, January 1, 2021 72,500 ​ $ 1.24 Granted 2,570,000 ​ 2.55 Vested (27,500) ​ 2.06 Forfeited — ​ — Non-vested shares, September 30, 2021 2,615,000 ​ $ 2.52 ​ As of September 30, 2021, there was $5,560,259 of unrecognized stock-based compensation expense related to restricted stock that will be recognized over the weighted average remaining vesting period of 3.2 years. ​ Stock Options ​ A summary of options activity (excluding Market-Based Awards) during the nine months ended September 30, 2021 is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Weighted ​ ​ ​ ​ ​ Average ​ Average ​ ​ ​ ​ ​ Number of ​ Exercise ​ Remaining ​ Intrinsic ​ Options Price Term (Yrs) Value Outstanding, January 1, 2021 370,000 ​ $ 0.66 ​ Granted 220,000 ​ 2.30 ​ Exercised — ​ — ​ Expired — ​ — ​ Forfeited — ​ — ​ Outstanding, September 30, 2021 590,000 ​ $ 1.27 3.2 ​ $ 527,600 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exercisable,September 30, 2021 324,167 ​ $ 0.66 2.3 ​ $ 460,317 ​ The following table presents information related to stock options (excluding Market-Based Awards) as of September 30, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ Options Outstanding ​ Options Exercisable ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Outstanding ​ Average ​ Exercisable Exercise ​ Number of ​ Remaining Life ​ Number of Price Options In Years Options $ 0.66 370,000 2.3 324,167 $ 1.99 ​ 10,000 ​ — ​ — $ 2.03 ​ 20,000 ​ — ​ — $ 2.05 ​ 10,000 ​ — ​ — $ 2.08 ​ 10,000 ​ — ​ — $ 2.13 20,000 — — $ 2.27 ​ 30,000 ​ — ​ — $ 2.43 ​ 20,000 ​ — ​ — $ 2.44 ​ 100,000 ​ — ​ — ​ ​ 590,000 2.3 324,167 ​ As of September 30, 2021, there was $175,780 of unrecognized stock-based compensation expense related to stock options, which will be recognized over the weighted average remaining vesting period of 2.9 years. ​ The Company has computed the fair value of stock options granted using the Black-Scholes option pricing model. In applying the Black-Scholes option pricing model, the Company used the following assumptions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended ​ For the Nine Months Ended ​ ​ September 30, ​ September 30, ​ 2021 2020 ​ 2021 2020 Risk free interest rate ​ 0.20% - 0.23 % N/A ​ ​ 0.20% - 0.85 % ​ 1.58 % Expected term (years) ​ 3.50 ​ N/A ​ 2.5 - 3.5 ​ 2.50 ​ Expected volatility ​ 109.00 % N/A ​ ​ 93% - % ​ 93.00 % Expected dividends ​ 0 % N/A ​ ​ 0 % ​ 0 % ​ For the three and nine months ended September 30, 2021, the stock options had a weighted average grant date value of $1.55 and $0.80 per option share, respectively. For the nine months ended September 30, 2020, the stock options had a weighted average grant date value of $0.36 per option share. There were no stock options granted during the three months ended September 30, 2020. See Market-Based Awards below for additional information. ​ Market-Based Awards The following table presents information related to market-based awards as of September 30, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ Number of ​ Grant Date Award Shares Fair Value Restricted stock units 1,500,000 ​ $ 1.94 Stock options 1,500,000 ​ $ 1.72 Total 3,000,000 ​ $ 3.66 ​ On March 1, 2021, in connection with the appointment of the Company’s Chief Operating Officer (the “COO”), the COO became eligible to receive of up to 1,500,000 shares of the Company’s common stock which will be earned based upon achieving certain market capitalization milestones up to $4 billion. The grant date value of this award of $2,911,420 was determined using a Monte Carlo valuation model for market-based vesting awards and will be amortized over each of the tranches’ prospective derived service period. ​ On June 10, 2021, the Chief Executive Officer (the “CEO”) received an option for the purchase of up to 1,500,000 shares of the Company’s common stock at an exercise price of $2.60, which will be earned based upon achieving certain market capitalization milestones up to $4 billion. The grant date value of this award of $2,579,000 was determined using a Monte Carlo valuation model for market-based vesting awards and will be amortized over each of the tranches’ prospective derived service period. ​ The following assumptions were used in applying the Monte Carlo valuation model to the Company’s market-based awards described above. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 1, ​ June 10, ​ ​ 2021 2021 ​ Risk free interest rate ​ 0.71 % ​ 0.73 % Expected volatility ​ 98.9 % ​ 98.5 % Expected dividend yield ​ 0 % ​ 0 % Expected life of market-based awards ​ 2.1 years ​ 2.2 years Fair value of common stock on date of grant ​ $ 2.61 ​ $ 2.62 ​ ​ As of September 30, 2021, there was $4,116,195 of unrecognized stock-based compensation expense related to market-based awards which will be amortized over the remaining weighted average vesting period of 1.86 years.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2021
COMMITMENTS AND CONTINGENCIES.
COMMITMENTS AND CONTINGENCIES	NOTE 11 COMMITMENTS AND CONTINGENCIES Technology Development and Sponsorship Agreement On March 31, 2021, the Company entered into a multi-year technology development and sponsorship agreement, pursuant to which the Company has committed to spend an aggregate of $900,000 in sponsorship fees, payable in three installments, of which $250,000 was paid on April 1, 2021, $300,000 is payable on January 1, 2022, and $350,000 is payable on January 1, 2023. The April 1, 2021 payment of $250,000 was recorded as a prepaid expense and is being amortized over the performance period. During the nine months ended September 30, 2021, $166,667 of sponsorship fees expense was recognized related to the agreement. In addition, the Company has committed to paying an aggregate of $750,000 related to technology development fees, which is to be paid in three equal installments during 2021, 2022 and 2023. As of September 30, 2021, no portion of the technology fees has been paid. ​ Research and Development Agreements ​ On April 5, 2021, the Company entered into a research and development agreement to develop high-areal-capacity battery electrodes to increase the energy density of batteries. Pursuant to the terms of the agreement, the Company has committed to spend an aggregate amount of $580,375, payable in eight quarterly installments of $72,547. During the nine months ended September 30, 2021, $145,094 of expense was recognized related to this agreement. ​ On August 18, 2021, the Company entered into a multi-year research and development agreement for a solid-state rechargeable battery, pursuant to which the Company has committed to spend an aggregate amount of $592,196 in eight quarterly payments of $74,025. During the nine months ended September 30, 2021, $24,675 of expense was recognized related to the agreement.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2021
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 12 SUBSEQUENT EVENTS Common Stock During October 2021, the Company issued an aggregate of 1,600,000 shares of common stock upon the exercise of outstanding warrants pursuant to which the Company received an aggregate of $4,000,000 of gross proceeds. During November 2021, the Company issued 107,744 unregistered shares of common stock as an equity incentive grant, which shares are subject to a four-year vesting schedule. During November 2021, the Company issued an aggregate of 1,000,000 shares of common stock upon the exercise of outstanding warrants pursuant to which the Company received an aggregate of $2,500,000 of gross proceeds. ​

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Liquidity	Liquidity During the nine months ended September 30, 2021, the Company raised gross proceeds of $6,500,000 in connection with the sale of preferred stock, common stock and warrants, and raised proceeds of $5,206,716 in connection with the exercise of warrants to purchase common stock. During the nine months ended September 30, 2021, the Company repaid outstanding notes payable in the amount of $2,450,000. Subsequent to September 30, 2021, the Company received an aggregate of $6,500,000 in connection with the exercise of warrants. See Note 12 – Subsequent Events for additional details. As of September 30, 2021, the Company had cash of $10,990,056 and working capital of $10,659,878. While the Company anticipates it will continue to incur operating losses and use cash in operating activities for the foreseeable future, the Company believes that its current working capital is sufficient in comparison to its anticipated cash usage for a period of at least twelve months subsequent to the filing date of these financial statements.
Concentrations of Credit Risk	Concentrations of Credit Risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, accounts receivable, revenue and accounts payable. Cash Concentrations A significant portion of the Company’s cash is held at one major financial institution. The Company has not experienced any losses in such accounts. Cash held in US bank institutions is currently insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000 at each institution. There was an uninsured balance of $10,489,922 and $8,513,010 as of September 30, 2021 and December 31, 2020, respectively. Customer and Revenue Concentrations The Company had certain customers whose revenue individually represented 10% or more of the Company's total revenue, or whose accounts receivable balances individually represented 10% or more of the Company's total accounts receivable, as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenues ​ Accounts Receivable ​ ​ For the Three Months Ended ​ For the Nine Months Ended ​ ​ ​ ​ ​ ​ September 30, ​ September 30, ​ As of As of ​ 2021 2020 2021 2020 September 30, 2021 ​ December 31, 2020 Customer A 88 % * ​ 41 % * ​ 96 % * ​ Customer B * ​ 26 % * ​ * ​ * ​ 70 % Customer C * ​ * ​ * ​ 12 % * * ​ Customer D * ​ * 40 % * ​ * ​ * ​ Customer E * ​ 35 % * ​ 44 % * ​ * ​ Customer F * ​ 12 % * ​ * * ​ * ​ Customer G ​ * ​ * ​ * ​ * ​ * ​ 19 % Customer H ​ * ​ * ​ * ​ * ​ * ​ 10 % Total 88 % 73 % 81 % 56 % 96 % 99 % ​ * Less than 10% ​ There is no assurance the Company will continue to receive significant revenues from any of these customers. Any reduction or delay in operating activity from any of the Company’s significant customers, or a delay or default in payment by any significant customer, or termination of agreements with significant customers, could materially harm the Company’s business and prospects. As a result of the Company’s significant customer concentrations, its gross profit and results from operations could fluctuate significantly due to changes in political, environmental, or economic conditions, or the loss of, reduction of business from, or less favorable terms with any of the Company’s significant customers. Vendor Concentrations Vendor concentrations are as follows for the three and nine months ended September 30, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended For the Nine Months Ended ​ ​ September 30, September 30, ​ ​ 2021 2020 2021 2020 ​ Vendor A * ​ 29 % * ​ 17 % Vendor B * ​ 13 % * * ​ Vendor C * ​ * ​ * ​ 11 % Vendor D * ​ * ​ * ​ 13 % Vendor E ​ * ​ 11 % * ​ * ​ Vendor F ​ * ​ * ​ 11 % * ​ Vendor G 26 % * ​ 11 % * ​ Vendor H 10 % * ​ * ​ * ​ Vendor I ​ 12 % * ​ * ​ * ​ ​ 48 % 53 % 22 % 41 % ​ * Less than 10%
Inventory	Inventory Inventory is comprised of carbon fiber velvet ("CFV") thermal interface solutions and internal short circuit batteries, which are available for sale. Inventories are stated at the lower of cost or net realizable value. Cost is determined by the first-in, first-out method. The cost of inventory that is sold to third parties is included within cost of sales and the cost of inventory that is given as samples is included within operating expenses. The Company periodically reviews for slow-moving, excess or obsolete inventories. Products that are determined to be obsolete, if any, are written down to net realizable value. As of September 30, 2021 and December 31, 2020, the Company's inventory was comprised solely of finished goods.
Revenue Recognition	Revenue Recognition The Company recognizes revenue in accordance with Accounting Standards Codification (“ASC”) Topic 606, “Revenue from Contracts with Customers” (“ASC 606”). The core principle of ASC 606 requires that an entity recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. ASC 606 defines a five-step process to achieve this core principle and, in doing so, it is possible more judgment and estimates may be required within the revenue recognition process, including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. The following five steps are applied to achieve the core principle of ASC 606: ● Step 1: Identify the contract with the customer; ● Step 2: Identify the performance obligations in the contract; ● Step 3: Determine the transaction price; ● Step 4: Allocate the transaction price to the performance obligations in the contract; and ● Step 5: Recognize revenue when the company satisfies a performance obligation. The Company recognizes revenue primarily from the following different types of contracts: ● Product sales – Revenue is recognized at the point in time that the product is transferred to the customer, which is generally at the time products leave the Company’s distribution center. ● Contract services – Revenue is recognized at the point in time that the Company satisfies its performance obligation under the contract, which is generally at the time the services are fulfilled and/or accepted by the customer. The following table summarizes the Company's revenue recognized during the three and nine months ended September 30, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended ​ For the Nine Months Ended ​ ​ September 30, ​ September 30, ​ 2021 2020 2021 2020 Product sales ​ $ 600,921 ​ $ 136,849 ​ $ 1,356,530 ​ $ 235,979 Contract services ​ — ​ — ​ 290,540 ​ 179,498 Total revenue ​ $ 600,921 ​ $ 136,849 ​ $ 1,647,070 ​ $ 415,477 ​ As of September 30, 2021 and December 31, 2020, the Company had $158,816 and $20,000 of deferred revenue, respectively, from contracts with customers. The contract liabilities represent payments received from customers for which the Company had not yet satisfied its performance obligation under the contract, or the customers have not officially accepted the goods or services provided under the contract. During the three and nine months ended September 30, 2021 and 2020, there was no revenue recognized from performance obligations satisfied (or partially satisfied) in previous periods. As of September 30, 2021 and December 31, 2020, the Company had $62,908 and $31,212, respectively, of deferred labor costs, which is included in prepaid expenses and other current assets in the Company's condensed consolidated balance sheets. Deferred labor costs represent costs to fulfill the Company's contract service revenue. The Company will recognize the deferred labor costs as cost of revenues at the point in time that the Company satisfies its performance obligation under the respective contract, which is generally at the time the services are fulfilled and/or accepted by the customer.
Shipping and Handling Costs	Shipping and Handling Costs Amounts billed to a customer in a sales transaction related to shipping and handling are recorded as revenue. Costs incurred for shipping and handling are included as cost of revenues on the accompanying condensed consolidated statements of operations.
Net Loss Per Common Share	Net Loss Per Common Share Basic net loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding during the period, less unvested issued restricted stock. Diluted net loss per common share is computed by dividing net loss by the weighted average number of common and dilutive common-equivalent shares outstanding during each period, if not antidilutive. The following shares were excluded from the calculation of weighted average dilutive common shares because their inclusion would have been anti-dilutive: ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ 2021 2020 Series B Convertible Preferred Stock — 698,600 Series C Convertible Preferred Stock ​ — ​ 189,000 Unvested restricted stock ​ 2,615,000 ​ — Market-based equity awards ​ 3,000,000 ​ — Options 590,000 395,000 Warrants ​ 5,202,878 ​ 210,025 Total 11,407,878 1,492,625
Reclassifications	Reclassifications Certain amounts in the prior period financial statements have been reclassified to conform to the current period presentation. These reclassifications had no effect on reported consolidated net loss. ​
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (the "FASB") issued ASU 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes," which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. The Company adopted ASU 2019-12 effective January 1, 2021 and its adoption did not have a material impact on the Company's condensed consolidated financial statements and related disclosures. ​ Recently Issued Accounting Pronouncements In August 2020, the FASB issued ASU 2020-06, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity. Earnings per Share On May 3, 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt—Modifications and Extinguishments (Subtopic 470-50), Compensation—Stock Compensation (Topic 718), and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options. This new standard provides clarification and reduces diversity in an issuer’s accounting for modifications or exchanges of freestanding equity-classified written call options (such as warrants) that remain equity classified after modification or exchange. This standard is effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Issuers should apply the new standard prospectively to modifications or exchanges occurring after the effective date of the new standard. Early adoption is permitted, including adoption in an interim period. If an issuer elects to early adopt the new standard in an interim period, the guidance should be applied as of the beginning of the fiscal year that includes that interim period. The Company does not expect this new standard to have a material impact on its financial statements.
Subsequent Events	Subsequent Events The Company evaluates events that have occurred after the balance sheet date but before the financial statements are issued. Based upon the evaluation, the Company did not identify any recognized or non-recognized subsequent events that would have required adjustment or disclosure in the condensed consolidated financial statements, except as disclosed.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Sep. 30, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Schedule of concentrations of credit risk	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenues ​ Accounts Receivable ​ ​ For the Three Months Ended ​ For the Nine Months Ended ​ ​ ​ ​ ​ ​ September 30, ​ September 30, ​ As of As of ​ 2021 2020 2021 2020 September 30, 2021 ​ December 31, 2020 Customer A 88 % * ​ 41 % * ​ 96 % * ​ Customer B * ​ 26 % * ​ * ​ * ​ 70 % Customer C * ​ * ​ * ​ 12 % * * ​ Customer D * ​ * 40 % * ​ * ​ * ​ Customer E * ​ 35 % * ​ 44 % * ​ * ​ Customer F * ​ 12 % * ​ * * ​ * ​ Customer G ​ * ​ * ​ * ​ * ​ * ​ 19 % Customer H ​ * ​ * ​ * ​ * ​ * ​ 10 % Total 88 % 73 % 81 % 56 % 96 % 99 % ​ * Less than 10% ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended For the Nine Months Ended ​ ​ September 30, September 30, ​ ​ 2021 2020 2021 2020 ​ Vendor A * ​ 29 % * ​ 17 % Vendor B * ​ 13 % * * ​ Vendor C * ​ * ​ * ​ 11 % Vendor D * ​ * ​ * ​ 13 % Vendor E ​ * ​ 11 % * ​ * ​ Vendor F ​ * ​ * ​ 11 % * ​ Vendor G 26 % * ​ 11 % * ​ Vendor H 10 % * ​ * ​ * ​ Vendor I ​ 12 % * ​ * ​ * ​ ​ 48 % 53 % 22 % 41 % ​ * Less than 10%
Schedule of revenue recognized	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended ​ For the Nine Months Ended ​ ​ September 30, ​ September 30, ​ 2021 2020 2021 2020 Product sales ​ $ 600,921 ​ $ 136,849 ​ $ 1,356,530 ​ $ 235,979 Contract services ​ — ​ — ​ 290,540 ​ 179,498 Total revenue ​ $ 600,921 ​ $ 136,849 ​ $ 1,647,070 ​ $ 415,477
Schedule of weighted average dilutive common shares because their inclusion would have been anti-dilutive	​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ 2021 2020 Series B Convertible Preferred Stock — 698,600 Series C Convertible Preferred Stock ​ — ​ 189,000 Unvested restricted stock ​ 2,615,000 ​ — Market-based equity awards ​ 3,000,000 ​ — Options 590,000 395,000 Warrants ​ 5,202,878 ​ 210,025 Total 11,407,878 1,492,625

PREPAID EXPENSES AND OTHER CU_2

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)	9 Months Ended
	Sep. 30, 2021
PREPAID EXPENSES AND OTHER CURRENT ASSETS
Schedule of prepaid expenses and other current assets	​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, December 31, ​ 2021 2020 Deferred labor costs ​ $ 62,908 ​ $ 31,212 Filing ​ ​ 2,729 ​ ​ 9,944 Insurance ​ ​ 66,572 ​ ​ 16,035 Marketing ​ ​ 115,794 ​ ​ 58,103 Other ​ ​ 11,662 ​ ​ 25,820 Professional fees ​ ​ 63,582 ​ ​ 9,354 Subscriptions ​ ​ 30,009 ​ ​ — Vendor deposits ​ ​ 97,500 ​ ​ — Total prepaid expenses ​ $ 450,756 ​ $ 150,468

ACCRUED EXPENSES AND OTHER CU_2

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2021
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
Schedule of accrued expenses and other current liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2021 2020 Board compensation ​ $ 60,808 ​ $ — Payroll and vacation ​ ​ 219,547 ​ ​ 278,854 Legal and professional fees ​ 232,200 ​ 81,902 Research and development ​ 97,222 ​ — Other ​ 79,569 ​ 34,256 Total accrued expenses and other current liabilities ​ $ 689,346 ​ $ 395,012

ACCRUED ISSUABLE EQUITY (Tables

ACCRUED ISSUABLE EQUITY (Tables)	9 Months Ended
	Sep. 30, 2021
ACCRUED ISSUABLE EQUITY.
Schedule of accrued issuable equity	​ ​ ​ ​ ​ Balance, January 1, 2021 $ 128,380 Additions ​ 208,680 Reclassifications to equity upon issuance ​ ​ (209,200) Mark-to market ​ ​ 66,274 Balance, September 30, 2021 ​ $ 194,134

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Sep. 30, 2021
LEASES
Schedule of maturities of lease liabilities	​ ​ ​ ​ ​ Maturity Date ​ Remaining three months ending December 31, 2021 ​ $ 71,361 2022 ​ 289,981 2023 ​ 297,917 2024 ​ 125,530 Total lease payments ​ 784,789 Less: Imputed interest ​ (52,051) Present value of lease liabilities ​ 732,738 Less: current portion ​ (257,198) Lease liabilities, non-current portion ​ $ 475,540
Supplemental cash flow information related to the lease	​ ​ ​ ​ ​ ​ ​ ​ ​ For the Nine Months Ended September 30, ​ 2021 2020 Cash paid for amounts included in the measurement of lease liabilities ​ ​ ​ ​ ​ ​ Operating cash flows from operating lease ​ $ 82,079 ​ $ — ​ ​ ​ ​ ​ ​ ​ Right-of-use asset obtained in exchange for lease obligations ​ ​ ​ ​ ​ ​ Operating lease ​ $ 814,817 ​ $ —

NOTES PAYABLE (Tables)

NOTES PAYABLE (Tables)	9 Months Ended
	Sep. 30, 2021
NOTES PAYABLE
Summary of notes payable activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Notes ​ Debt ​ ​ ​ Payable Discount Total Balance, January 1, 2021 ​ $ 2,450,000 ​ $ (128,198) ​ $ 2,321,802 Repayments in cash ​ (2,450,000) ​ — ​ (2,450,000) Amortization of debt discount ​ — ​ 128,198 ​ 128,198 Outstanding, September 30, 2021 ​ $ — ​ $ — ​ $ —

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	9 Months Ended
	Sep. 30, 2021
Schedule of Information relating to stock based compensation	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended ​ For the Nine Months Ended ​ September 30, ​ September 30, ​ 2021 2020 2021 2020 Common stock for services ​ $ 77,040 ​ $ 147,976 ​ $ 345,679 ​ $ 222,676 Amortization of restricted common stock ​ 440,333 ​ — ​ 1,000,647 ​ — Amortization of market-based awards ​ 754,207 ​ — ​ 1,374,226 ​ — Stock options ​ 20,516 ​ 10,038 ​ 45,407 ​ 30,155 Total ​ $ 1,292,096 ​ $ 158,014 ​ $ 2,765,959 ​ $ 252,831 ​
Schedule of stock option activity outstanding and exercisable	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Weighted ​ ​ ​ ​ ​ Average ​ Average ​ ​ ​ ​ ​ Number of ​ Exercise ​ Remaining ​ Intrinsic ​ Options Price Term (Yrs) Value Outstanding, January 1, 2021 370,000 ​ $ 0.66 ​ Granted 220,000 ​ 2.30 ​ Exercised — ​ — ​ Expired — ​ — ​ Forfeited — ​ — ​ Outstanding, September 30, 2021 590,000 ​ $ 1.27 3.2 ​ $ 527,600 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exercisable,September 30, 2021 324,167 ​ $ 0.66 2.3 ​ $ 460,317 The following table presents information related to stock options (excluding Market-Based Awards) as of September 30, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ Options Outstanding ​ Options Exercisable ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Outstanding ​ Average ​ Exercisable Exercise ​ Number of ​ Remaining Life ​ Number of Price Options In Years Options $ 0.66 370,000 2.3 324,167 $ 1.99 ​ 10,000 ​ — ​ — $ 2.03 ​ 20,000 ​ — ​ — $ 2.05 ​ 10,000 ​ — ​ — $ 2.08 ​ 10,000 ​ — ​ — $ 2.13 20,000 — — $ 2.27 ​ 30,000 ​ — ​ — $ 2.43 ​ 20,000 ​ — ​ — $ 2.44 ​ 100,000 ​ — ​ — ​ ​ 590,000 2.3 324,167
Schedule of warrants activity	The following table presents information related to warrants as of September 30, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ Warrants Outstanding ​ Warrants Exercisable ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ Outstanding ​ Average ​ Exercisable Exercise ​ Number of ​ Remaining Life ​ Number of Price Warrants In Years Warrants $ 1.25 2,594,553 4.3 2,594,553 $ 1.50 8,325 0.2 8,325 $ 2.50 2,600,000 4.6 2,600,000 ​ ​ 5,202,878 4.4 5,202,878
Schedule of outstanding and exercisable warrants	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ Weighted ​ ​ ​ ​ ​ ​ ​ Average ​ Average ​ ​ ​ ​ ​ Number of ​ Exercise ​ Remaining ​ Intrinsic ​ Warrants Price Term (Yrs) Value Outstanding, January 1, 2021 6,787,911 ​ $ 1.25 ​ Issued 2,600,000 ​ 2.50 ​ Exercised (4,185,033) ​ (1.24) ​ Expired — ​ — ​ Forfeited — ​ — ​ Outstanding, September 30, 2021 5,202,878 ​ $ 1.88 4.4 ​ $ 2,158,307 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exercisable, September 30, 2021 5,202,878 ​ $ 1.88 4.4 ​ $ 2,158,307
Summary of restricted common stock	The following table presents information related to market-based awards as of September 30, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ Number of ​ Grant Date Award Shares Fair Value Restricted stock units 1,500,000 ​ $ 1.94 Stock options 1,500,000 ​ $ 1.72 Total 3,000,000 ​ $ 3.66
Stock options.
Schedule of stock options granted	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended ​ For the Nine Months Ended ​ ​ September 30, ​ September 30, ​ 2021 2020 ​ 2021 2020 Risk free interest rate ​ 0.20% - 0.23 % N/A ​ ​ 0.20% - 0.85 % ​ 1.58 % Expected term (years) ​ 3.50 ​ N/A ​ 2.5 - 3.5 ​ 2.50 ​ Expected volatility ​ 109.00 % N/A ​ ​ 93% - % ​ 93.00 % Expected dividends ​ 0 % N/A ​ ​ 0 % ​ 0 %
Market-Based Awards
Schedule of stock options granted	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 1, ​ June 10, ​ ​ 2021 2021 ​ Risk free interest rate ​ 0.71 % ​ 0.73 % Expected volatility ​ 98.9 % ​ 98.5 % Expected dividend yield ​ 0 % ​ 0 % Expected life of market-based awards ​ 2.1 years ​ 2.2 years Fair value of common stock on date of grant ​ $ 2.61 ​ $ 2.62 ​
Summary of restricted common stock	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ Shares of Restricted ​ Grant Date ​ Common Stock Fair Value Non-vested balance, January 1, 2021 72,500 ​ $ 1.24 Granted 2,570,000 ​ 2.55 Vested (27,500) ​ 2.06 Forfeited — ​ — Non-vested shares, September 30, 2021 2,615,000 ​ $ 2.52

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Customer concentrations (Details) - Customer Concentration Risk [Member]	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Revenues [Member] | Customer [Member]
Concentration Risk, Percentage		88.00%	73.00%	81.00%	56.00%
Revenues [Member] | Customer A [Member]
Concentration Risk, Percentage		88.00%		41.00%
Revenues [Member] | Customer B [Member]
Concentration Risk, Percentage			26.00%
Revenues [Member] | Customer C [Member]
Concentration Risk, Percentage					12.00%
Revenues [Member] | Customer D [Member]
Concentration Risk, Percentage				40.00%
Revenues [Member] | Customer E [Member]
Concentration Risk, Percentage			35.00%		44.00%
Revenues [Member] | Customer F [Member]
Concentration Risk, Percentage			12.00%
Accounts Receivable [Member] | Customer [Member]
Concentration Risk, Percentage	96.00%					99.00%
Accounts Receivable [Member] | Customer A [Member]
Concentration Risk, Percentage	96.00%
Accounts Receivable [Member] | Customer B [Member]
Concentration Risk, Percentage						70.00%
Accounts Receivable [Member] | Customer G [Member]
Concentration Risk, Percentage						19.00%
Accounts Receivable [Member] | Customer H [Member]
Concentration Risk, Percentage						10.00%
Accounts Payable [Member] | Vendor [Member]
Concentration Risk, Percentage		48.00%	53.00%	22.00%	41.00%
Accounts Payable [Member] | Vendor A [Member]
Concentration Risk, Percentage			29.00%		17.00%
Accounts Payable [Member] | Vendor B [Member]
Concentration Risk, Percentage			13.00%
Accounts Payable [Member] | Vendor C [Member]
Concentration Risk, Percentage					11.00%
Accounts Payable [Member] | Vendor D [Member]
Concentration Risk, Percentage					13.00%
Accounts Payable [Member] | Vendor E [Member]
Concentration Risk, Percentage			11.00%
Accounts Payable [Member] | Vendor F [Member]
Concentration Risk, Percentage				11.00%
Accounts Payable [Member] | Vendor G [Member]
Concentration Risk, Percentage		26.00%		11.00%
Accounts Payable [Member] | Vendor H [Member]
Concentration Risk, Percentage		10.00%
Accounts Payable [Member] | Vendor I [Member]
Concentration Risk, Percentage		12.00%

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - consolidated statements of operations: (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 600,921	$ 136,849	$ 1,647,070	$ 415,477
Product sales [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 600,921	$ 136,849	1,356,530	235,979
Contract services [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax			$ 290,540	$ 179,498

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - weighted average dilutive common shares (Details) - shares	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	11,407,878	1,492,625
Series B Convertible Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		698,600
Series C Convertible Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		189,000
Unvested Restricted Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,615,000
Market-based equity award
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	3,000,000
Stock options.
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	590,000	395,000
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	5,202,878	210,025

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Nov. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Gross proceeds				$ 6,500,000
Amount raised on convertible preferred financing agreement	$ 6,500,000			5,206,716
Repayments of note payable				2,450,000	$ 159,000
Cash		$ 10,990,056		10,990,056		$ 8,880,140
Working capital		10,659,878		10,659,878
Cash, FDIC Insured Amount		250,000		250,000
Uninsured cash		10,489,922		10,489,922		8,513,010
Deferred revenue		158,816		158,816		20,000
Revenue Recognized		0	$ 0	0	$ 0
Deferred labor costs		$ 62,908		62,908		$ 31,212
Aggregate gross proceeds	$ 6,500,000			$ 5,206,716

PREPAID EXPENSES AND OTHER CU_3

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
PREPAID EXPENSES AND OTHER CURRENT ASSETS
Deferred labor costs	$ 62,908	$ 31,212
Filing	2,729	9,944
Insurance	66,572	16,035
Marketing	115,794	58,103
Other	11,662	25,820
Professional fees	63,582	9,354
Subscriptions	30,009	0
Vendor deposits	97,500	0
Total prepaid expenses and other current assets	$ 450,756	$ 150,468

EQUIPMENT DEPOSITS (Details)

EQUIPMENT DEPOSITS (Details) - USD ($)	Sep. 27, 2021	Jul. 22, 2021	Sep. 30, 2021	Sep. 30, 2020
EQUIPMENT DEPOSITS
Payments of equipment deposits	$ 699,805	$ 330,000	$ 1,029,805	$ 0

ACCRUED EXPENSES AND OTHER CU_3

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
Board compensation	$ 60,808	$ 0
Payroll and vacation	219,547	278,854
Legal and professional fees	232,200	81,902
Research and development	97,222	0
Other	79,569	34,256
Total accrued expenses and other current liabilities	$ 689,346	$ 395,012

ACCRUED ISSUABLE EQUITY (Detail

ACCRUED ISSUABLE EQUITY (Details)	9 Months Ended
	Sep. 30, 2021USD ($)
Movements In Accrued Issuable Equity For Services, Current [Roll Forward]
Beginning balance	$ 128,380
Additions	208,680
Reclassifications to equity upon issuance	(209,200)
Mark-to market	66,274
Ending balance	$ 194,134

ACCRUED ISSUABLE EQUITY - Addit

ACCRUED ISSUABLE EQUITY - Additional information (Details) - USD ($)	Apr. 07, 2021	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020
ACCRUED ISSUABLE EQUITY.
Value of services			$ 208,680
Shares issued in exchange for services, number	85,000	85,000	160,000
Shares issued in exchange for certain services, number			100,000
Shares issued in exchange for services, aggregate fair value			$ 209,200
Gains (losses) related to the change in fair value		$ 45,600		$ 66,274

LEASES - Maturity (Details)

LEASES - Maturity (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
LEASES
Remaining three months ending December 31, 2021	$ 71,361
2022	289,981
2023	297,917
2024	125,530
Total lease payments	784,789
Less: Imputed interest	(52,051)
Present value of lease liabilities	732,738
Less: current portion	(257,198)	$ 0
Lease liability, non-current portion	$ 475,540	$ 0

LEASES - Additional Information

LEASES - Additional Information (Details) - USD ($)	Jun. 01, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Lessee, Lease, Description [Line Items]
Right of use asset for lease liability				$ 814,817	$ 0
Estimated incremental borrowing rate		5.00%		5.00%
Operating lease expense		$ 89,305	$ 15,616	$ 144,765	$ 42,832
New lease agreement for office space in San Diego, California
Lessee, Lease, Description [Line Items]
Lease term (in years)	3 years
Option to extend	true
Renewal Term	5 years
Monthly lease rental	$ 23,787
Lease base rent	18,518
Common area maintenance fees included in monthly lease rental	$ 5,268
Lease annual escalation rate	3.50%
Security deposit	$ 50,213
Monthly rent	5,127
Monthly rent base	4,572
Association fees included in monthly lease rental	$ 555

LEASES - Supplemental Cash Flow

LEASES - Supplemental Cash Flow Information Related to Lease (Details) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating lease	$ 82,079	$ 0
Right-of-use asset obtained in exchange for lease obligations
Operating lease	$ 814,817	$ 0

NOTES PAYABLE (Details)

NOTES PAYABLE (Details)	9 Months Ended
	Sep. 30, 2021USD ($)
Movements In Notes Payable Current, Gross [Roll Forward]
Beginning balance	$ 2,450,000
Repayments in cash	(2,450,000)
Movements In Debt Instrument, Unamortized Discount, Current [Roll Forward]
Beginning balance	(128,198)
Amortization of debt discount	128,198
Ending balance	0
Movements In Notes Payable Current [Roll Forward]
Beginning balance	2,321,802
Repayments in cash	(2,450,000)
Amortization of debt discount	128,198
Ending balance	$ 0

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Accounts payable - related party	$ 0	$ 2,628
Chief Technology Officer CTO [Member]
Related Party Transaction [Line Items]
Accounts payable - related party	$ 0	$ 2,628

STOCKHOLDERS' EQUITY - Addition

STOCKHOLDERS' EQUITY - Additional Information (Details)	Jun. 10, 2021USD ($)$ / sharesshares	May 20, 2021USD ($)shares	May 19, 2021USD ($)$ / sharesshares	Apr. 07, 2021shares	Mar. 01, 2021USD ($)shares	Nov. 30, 2021USD ($)	Sep. 30, 2021USD ($)RateitemY$ / sharesshares	Jun. 30, 2021USD ($)shares	Mar. 31, 2021USD ($)shares	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)RateitemY$ / sharesshares		Sep. 30, 2020USD ($)		Jun. 17, 2021shares	Dec. 31, 2020shares
Common stock, shares issued | shares		1,300,000					101,992,963				101,992,963				3,170,730	89,908,600
Structuring fee paid to investor											$ 10,000
Gross proceeds											6,500,000
Remaining proceeds											6,490,000
Relative fair value of Series D Preferred Stock							$ 3,875,675				3,875,675
Commitment shares issued in connection with sale of Series D Preferred Stock		$ 2,665,000									1,339,582
Relative fair value of warrants							1,274,743				1,274,743
Deemed dividend							$ 0			$ 0	2,624,326
Beneficial conversion feature on Series D convertible preferred stock											2,624,326
Cash issuance costs								$ 365,000			$ 365,000
Warrants to purchase common shares issued | shares							5,202,878				5,202,878					6,787,911
Outstanding at the end (in years)							4 years 4 months 24 days				4 years 4 months 24 days
Aggregate gross proceeds						$ 6,500,000					$ 5,206,716
Repayments of remaining note payable											$ 2,450,000		$ 159,000
Common stock authorized | shares							500,000,000				500,000,000					500,000,000
Allocated Share-based Compensation Expense							$ 1,292,096			158,014	$ 2,765,959		252,831
Stock-based compensation											2,765,959		252,831
Aggregate proceeds										757,695	0	[1]	1,461,695	[1]
Unrecognized stock-based compensation expense							$ 5,560,259				$ 5,560,259
Weighted average remaining vesting period											3 years 2 months 12 days
Shares of common stock issued related to consulting services provided | shares				85,000			85,000				160,000
Grant date value of common stock issued related to consulting services provided							$ 186,399	$ 110,000	$ 49,800
Options Outstanding, Exercise Price | $ / shares							$ 0.66				$ 0.66
Exercise price
Warrant measurement input | item							2.50				2.50
Market price per share
Warrant measurement input | item							2.05				2.05
Expected term
Warrant measurement input | Y							1				1
Volatility
Warrant measurement input | item							142				142
Risk-free interest rate
Warrant measurement input | Rate							0.05				0.05
Research and development expenses
Allocated Share-based Compensation Expense							$ 0			7,424	$ 15,190		22,961
Selling, general and administrative expenses
Allocated Share-based Compensation Expense							1,292,096			$ 150,590	2,750,770		229,870
Stock options.
Unrecognized stock-based compensation expense							175,780				$ 175,780
Weighted average remaining vesting period											2 years 10 months 24 days
Market-Based Awards
Common stock authorized | shares	1,500,000				1,500,000
Grant date value of stock	$ 2,579,000				$ 2,911,420
Market Cap	$ 4,000,000,000				$ 4,000,000,000
Unrecognized stock-based compensation expense							4,116,195				$ 4,116,195
Weighted average remaining vesting period											1 year 10 months 9 days
Options Outstanding, Exercise Price | $ / shares	$ 2.60
Common stock
Allocated Share-based Compensation Expense							$ 440,333				$ 1,000,647
Restricted common stock issued (in shares) | shares							155,000	415,000	2,000,000
Aggregate proceeds							$ 186,399				$ 346,199
Stock Issued During Period, Shares, Conversion of Convertible Securities | shares								3,170,730
Shares of common stock issued related to consulting services provided | shares							85,000	55,000	20,000
Grant date value of common stock issued related to consulting services provided							$ 9	$ 6	$ 2
Warrants
Stock Issued During Period, Shares, Conversion of Convertible Securities | shares							1,185,033				4,185,033
Warrants | Common stock
Stock-based compensation							$ 1,494,216				$ 5,206,716
Series D Convertible Preferred Stock
Beneficial conversion feature on Series D convertible preferred stock											$ 2,624,326		$ 0
Convertible Preferred Stock, Shares Issued upon Conversion | shares															650
Convertible Preferred Stock, Shares Issued upon Conversion | shares															650
Series D Convertible Preferred Stock | Securities Purchase Agreement
Common stock issued for cash, net of issuance costs (in shares) | shares			650
Warrants to purchase common shares issued | shares			2,600,000
Outstanding at the end (in years)			1 year
Shares issued price (in dollars per share) | $ / shares			$ 2.50
Aggregate gross proceeds			$ 6,500,000
Commitment fee shares of common stock | shares			1,300,000
Repayments of remaining note payable			$ 1,400,000
Fixed conversion price | $ / shares			$ 2.05
Convertible Preferred Stock, Shares Issued upon Conversion | shares			3,170,732
Cumulative dividends annual rate percentage			10.00%
Convertible Preferred Stock, Shares Issued upon Conversion | shares			3,170,732
[1]	For the nine months ended September 30, 2020, the amount represents gross proceeds of $2,152,695 less $691,000 withheld by the investor to pay down a portion of the note payable held by the same investor.

STOCKHOLDERS' EQUITY - Stock-Ba

STOCKHOLDERS' EQUITY - Stock-Based Compensation (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Allocated Share-based Compensation Expense	$ 1,292,096	$ 158,014	$ 2,765,959	$ 252,831
Common Stock Issued For Services
Allocated Share-based Compensation Expense	77,040	147,976	345,679	222,676
Common stock
Allocated Share-based Compensation Expense	440,333		1,000,647
Market-Based Awards
Allocated Share-based Compensation Expense	754,207		1,374,226
Stock options
Allocated Share-based Compensation Expense	$ 20,516	$ 10,038	$ 45,407	$ 30,155

STOCKHOLDERS' EQUITY - Stock op

STOCKHOLDERS' EQUITY - Stock options (Details) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Weighted Average Grant Date Fair Value
Stock options granted			220,000
Restricted common stock
Shares of Restricted Common Stock
Non-vested balance, January 1, 2021			72,500
Granted			2,570,000
Vested			27,500
Non-vested balance, September 30, 2021	2,615,000		2,615,000
Weighted Average Grant Date Fair Value
Non-vested balance, January 1, 2021 (in dollars per share)			$ 1.24
Granted (in dollars per share)			2.55
Vested (in dollars per share)			2.06
Non-vested balance, September 30, 2021 (in dollars per share)	$ 2.52		2.52
Stock options.
Weighted Average Grant Date Fair Value
Weighted average grant date value	$ 1.55		$ 0.80	$ 0.36
Stock options granted		0

STOCKHOLDERS EQUITY - Summary o

STOCKHOLDERS EQUITY - Summary of warrants activity (Details)	9 Months Ended
	Sep. 30, 2021USD ($)$ / sharesshares
STOCKHOLDERS' EQUITY
Outstanding at the beginning	6,787,911
Issued	2,600,000
Exercised	(4,185,033)
Outstanding at the end	5,202,878
Exercisable at the end	5,202,878
Outstanding at the beginning (in dollars per share) | $ / shares	$ 1.25
Issued (in dollars per share) | $ / shares	2.50
Exercised (in dollars per share) | $ / shares	(1.24)
Outstanding at the end (in dollars per share) | $ / shares	$ 1.88
Exercisable at the end (in dollars per share)	1.88
Outstanding at the end (in years)	4 years 4 months 24 days
Exercisable at the end (in years)	4 years 4 months 24 days
Outstanding at the end (in dollars) | $	$ 2,158,307
Exercisable at the end (in dollars) | $	$ 2,158,307

STOCKHOLDERS EQUITY - Informati

STOCKHOLDERS EQUITY - Information related to warrants (Details) - $ / shares	Sep. 30, 2021	Dec. 31, 2020
Exercise price of warrants	$ 1.88	$ 1.25
Warrants Outstanding	5,202,878	6,787,911
Weighted average remaining life (in years)	4 years 4 months 24 days
Exercisable, Number of Warrants	5,202,878
Exercise price, 1.25
Exercise price of warrants	$ 1.25
Warrants Outstanding	2,594,553
Weighted average remaining life (in years)	4 years 3 months 18 days
Exercisable, Number of Warrants	2,594,553
Exercise price, 1.50
Exercise price of warrants	$ 1.50
Warrants Outstanding	8,325
Weighted average remaining life (in years)	2 months 12 days
Exercisable, Number of Warrants	8,325
Exercise price, 2.50
Exercise price of warrants	$ 2.50
Warrants Outstanding	2,600,000
Weighted average remaining life (in years)	4 years 7 months 6 days
Exercisable, Number of Warrants	2,600,000

STOCKHOLDERS' EQUITY - Stock ac

STOCKHOLDERS' EQUITY - Stock activity (Details)	9 Months Ended
	Sep. 30, 2021USD ($)$ / sharesshares
STOCKHOLDERS' EQUITY
Number of Options, Outstanding | shares	370,000
Number of Options, Granted | shares	220,000
Number of Options, Outstanding | shares	590,000
Number of Options, Exercisable | shares	324,167
Weighted Average Exercise Price, Outstanding | $ / shares	$ 0.66
Weighted Average Exercise Price, Granted | $ / shares	2.30
Weighted Average Exercise Price Outstanding | $ / shares	1.27
Weighted Average Exercise Price Exercisable | $ / shares	$ 0.66
Weighted Average Remaining Term, Outstanding	3 years 2 months 12 days
Weighted Average Remaining Term, Exercisable	2 years 3 months 18 days
Number of Options Intrinsic Value, Outstanding | $	$ 527,600
Number of Options Intrinsic Value, Exercisable | $	$ 460,317

STOCKHOLDERS' EQUITY - Stock _2

STOCKHOLDERS' EQUITY - Stock options (Details) - $ / shares	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Options Outstanding, Exercise Price	$ 0.66
Options Outstanding, Number of Options	590,000	370,000
Options Exercisable, Weighted Average Remaining Life	2 years 3 months 18 days
Options Exercisable Number of Options	324,167
0.66 Exercise Price
Options Outstanding, Exercise Price	$ 0.66
Options Outstanding, Number of Options	370,000
Options Exercisable, Weighted Average Remaining Life	2 years 3 months 18 days
Options Exercisable Number of Options	324,167
1.99 Exercise Price
Options Outstanding, Exercise Price	$ 1.99
Options Outstanding, Number of Options	10,000
2.03 Exercise Price
Options Outstanding, Exercise Price	$ 2.03
Options Outstanding, Number of Options	20,000
2.05 exercise price
Options Outstanding, Exercise Price	$ 2.05
Options Outstanding, Number of Options	10,000
2.08 Exercise Price
Options Outstanding, Exercise Price	$ 2.08
Options Outstanding, Number of Options	10,000
2.13 Exercise Price
Options Outstanding, Exercise Price	$ 2.13
Options Outstanding, Number of Options	20,000
2.27 Exercise Price
Options Outstanding, Exercise Price	$ 2.27
Options Outstanding, Number of Options	30,000
2.43 Exercise Price
Options Outstanding, Exercise Price	$ 2.43
Options Outstanding, Number of Options	20,000
2.44 Exercise Price
Options Outstanding, Exercise Price	$ 2.44
Options Outstanding, Number of Options	100,000

STOCKHOLDERS' EQUITY - Stock-_2

STOCKHOLDERS' EQUITY - Stock-based compensation (Details) - Market-Based Awards	9 Months Ended
	Sep. 30, 2021$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares | shares	3,000,000
Grant Date Fair Value | $ / shares	$ 3.66
Stock options.
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares | shares	1,500,000
Grant Date Fair Value | $ / shares	$ 1.72
Restricted common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares | shares	1,500,000
Grant Date Fair Value | $ / shares	$ 1.94

STOCKHOLDERS' EQUITY - Option p

STOCKHOLDERS' EQUITY - Option pricing model (Details) - $ / shares	Jun. 10, 2021	Mar. 01, 2020	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020
Risk free interest rate (as a percent)					1.58%
Expected volatility (as a percent)			109.00%		93.00%
Expected dividends (as a percent)			0.00%	0.00%	0.00%
Expected term (years)			3 years 6 months		2 years 6 months
Minimum
Risk free interest rate (as a percent)			0.20%	0.20%
Expected volatility (as a percent)				93.00%
Expected term (years)				2 years 6 months
Maximum
Risk free interest rate (as a percent)			0.23%	0.85%
Expected volatility (as a percent)				109.00%
Expected term (years)				3 years 6 months
Market-Based Awards
Risk free interest rate (as a percent)	0.73%	0.71%
Expected volatility (as a percent)	98.50%	98.90%
Expected dividends (as a percent)	0.00%	0.00%
Expected term (years)	2 years 2 months 12 days	2 years 1 month 6 days
Fair value of common stock on date of grant	2.62	2.61

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details)	Jan. 01, 2023USD ($)	Jan. 01, 2022USD ($)	Aug. 18, 2021USD ($)installment	Apr. 05, 2021USD ($)installment	Apr. 01, 2021USD ($)	Sep. 30, 2021USD ($)installment	Mar. 31, 2021USD ($)installment
Technology Development and Sponsorship Agreement
Aggregate amount spend on agreement						$ 750,000	$ 900,000
Number of installments | installment						3	3
Installment payments					$ 250,000	$ 0
Expense recognized					$ 250,000	166,667
Research and Development Agreements
Aggregate amount spend on agreement				$ 580,375
Number of installments | installment				8
Installment payments				$ 72,547
Expense recognized						145,094
Multi-year research and development agreement
Aggregate amount spend on agreement			$ 592,196
Number of installments | installment			8
Installment payments			$ 74,025
Expense recognized						$ 24,675
Subsequent Event | Technology Development and Sponsorship Agreement
Installment payments	$ 350,000	$ 300,000

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($)	May 19, 2021	Apr. 07, 2021	Nov. 30, 2021	Oct. 31, 2021	Sep. 30, 2021	Sep. 30, 2021
Subsequent Event [Line Items]
Shares issued in exchange for services, number		85,000			85,000	160,000
Aggregate gross proceeds			$ 6,500,000			$ 5,206,716
Securities Purchase Agreement | Series D Convertible Preferred Stock
Subsequent Event [Line Items]
Aggregate gross proceeds	$ 6,500,000
Subsequent Event
Subsequent Event [Line Items]
Shares issued in exchange for services, number			1,000,000	1,600,000
Aggregate gross proceeds			$ 2,500,000	$ 4,000,000
Four year vesting period | Equity Incentive Grant
Subsequent Event [Line Items]
Shares issued in exchange for services, number			107,744