KULR Technology (KULR) 10-K 28 Mar 22 2021 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2021	Mar. 28, 2022	Jun. 30, 2021
Document and Entity Information
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity File Number	001-40454
Entity Registrant Name	KULR TECHNOLOGY GROUP, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	81-1004273
Entity Address, Address Line One	4863 Shawline Street,
Entity Address, City or Town	San Diego
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92111
City Area Code	408
Local Phone Number	663-5247
Entity Current Reporting Status	Yes
Entity Central Index Key	0001662684
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Public Float			$ 153,270,922
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Auditor Firm ID	688
Auditor Name	Marcum LLP
Auditor Location	Los Angeles,California
Trading Symbol	KULR
Entity Common Stock, Shares Outstanding		104,864,715
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Security Exchange Name	NYSE

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Current Assets:
Cash	$ 14,863,301	$ 8,880,140
Accounts receivable	136,326	55,492
Inventory	191,311	55,452
Prepaid expenses and other current assets	570,360	150,468
Total Current Assets	15,761,298	9,141,552
Property and equipment, net	374,475	57,857
Vendor deposits	2,153,950
Security deposits	58,941	8,728
Intangible assets, net	216,952
Right of use asset	665,687
Total Assets	19,231,303	9,208,137
Current Liabilities:
Accounts payable	454,507	66,537
Accrued expenses and other current liabilities	1,163,227	397,640
Notes payable, net of debt discount of $0 and $128 ,198 at December 31, 2021 and 2020, respectively	0	2,321,802
Accrued issuable equity	290,721	128,380
Loan payable, current portion	155,226	12,936
Lease liability, current portion	262,379
Deferred revenue	132,303	20,000
Total Current Liabilities	2,458,363	2,947,295
Lease liability, non-current portion	407,898
Loan payable, non-current portion		142,290
Total Liabilities	2,866,261	3,089,585
Commitments and contingencies (Note 14)
Stockholders' Equity
Common stock, $0.0001 par value, 500,000,000 shares authorized; 104,792,072 and 89,908,600 shares issued and outstanding at December 31, 2021 and 2020, respectively	10,479	8,991
Additional paid-in capital	39,512,122	17,355,968
Accumulated deficit	(23,157,559)	(11,246,408)
Total Stockholders' Equity	16,365,042	6,118,552
Total Liabilities and Stockholders' Equity	19,231,303	9,208,137
Series A Preferred Stock
Stockholders' Equity
Preferred stock	0	0
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
Stockholders' Equity
Preferred stock	$ 0	$ 0

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Dec. 31, 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	104,792,072	89,908,600
Common Stock, Shares Outstanding	104,792,072	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
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 ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Revenue	$ 2,412,868	$ 623,965
Cost of revenue	1,102,038	187,903
Gross Profit	1,310,830	436,062
Operating Expenses:
Research and development	1,662,183	289,772
Selling, general, and administrative	11,162,062	2,486,722
Total Operating Expenses	12,824,245	2,776,494
Loss From Operations	(11,513,415)	(2,340,432)
Other Expense
Interest expense, net	(3,336)	(5,268)
Debt redemption costs	(140,000)
Amortization of debt discount	(128,198)	(501,802)
Change in fair value of accrued issuable equity	(125,821)	(2,594)
Loss on foreign currency transactions	(381)
Total Other Expenses, net	(397,736)	(509,664)
Net Loss	(11,911,151)	(2,850,096)
Net Loss Attributable to Common Stockholders	$ (14,535,477)	$ (2,851,787)
Net Loss Per Share - Basic (In dollars per share)	$ (0.15)	$ (0.03)
Net Loss Per Share - Diluted (In dollars per share)	$ (0.15)	$ (0.03)
Weighted Average Number of Common Shares Outstanding - Basic (In Shares)	97,708,080	82,032,420
Weighted Average Number of Common Shares Outstanding - Diluted (In Shares)	97,708,080	82,032,420
Series C Preferred Stock
Other Expense
Deemed dividend to preferred stockholders		$ (1,691)
Series D Preferred Stock
Other Expense
Deemed dividend to preferred stockholders	$ (2,624,326)

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 B Convertible Preferred Stock	Series C Convertible Preferred StockConvertible Preferred Stock	Series C Convertible Preferred StockCommon stock	Series C Convertible Preferred StockAdditional Paid-in Capital	Series C Convertible Preferred Stock	Series D Convertible Preferred StockConvertible Preferred Stock	Series D Convertible Preferred StockCommon stock	Series D Convertible Preferred StockAdditional Paid-in Capital	Common stockStock options.	Common stock	Additional Paid-in CapitalCommon stock	Additional Paid-in CapitalStock options.	Additional Paid-in CapitalAmortization of market-based awards	Additional Paid-in Capital	Accumulated Deficit [Member]	Common stock	Stock options.	Amortization of 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
Stock-based compensation														$ 23				178,619					178,642
Stock-based compensation (in shares)														238,953
Common stock issued upon conversion of Convertible Preferred Stock			$ 3	$ (3)			$ 24	$ (24)
Common stock issued upon conversion of Convertible Preferred Stock (in shares)		(515)	25,758			(24.01)	234,662
Common stock issued upon conversion of Series D Convertible Preferred Stock (in shares)							56,777
Additional Paid in Capital, Amortization of Equity Options And Awards																		39,426					39,426
Common stock and warrants issued for cash, net of issuance costs	[1]													$ 640				7,269,209					7,269,849
Common stock and warrants issued for cash, net of issuance costs (in shares)	[1]													6,400,001
Common stock issued pursuant to the SEDA agreement for cash, net of issuance costs	[2]													$ 113				1,423,324					1,423,437
Common stock issued pursuant to the SEDA agreement for cash, net of issuance costs (in shares)	[2]													1,128,908
Common stock issued pursuant to the SEDA agreement, In satisfaction of notes payable														$ 71				790,929					791,000
Common stock issued pursuant to the SEDA agreement, In satisfaction of notes payable (in shares)														712,640
Net loss																			(2,850,096)				(2,850,096)
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
Stock-based compensation													$ 17			$ 376,892					$ 376,909
Common stock issued upon conversion of Convertible Preferred Stock		$ (1)	$ 70	(69)							$ 317	$ (317)
Common stock issued upon conversion of Convertible Preferred Stock (in shares)		(13,972)	698,600							(650)	3,170,730
Common stock issued upon conversion of Series D Convertible Preferred Stock (in shares)			25,758
Common stock issued upon the exercise of warrants														$ 679				11,718,525					11,719,204
Common stock issued upon the exercise of warrants (in shares)														6,793,358
Common stock issued upon the exercise of options			$ 18	$ 121,848	$ 121,866
Common stock issued upon the exercise of options (in shares)														184,784
Common stock issued as partial consideration for intangible asset							$ 1	$ 17,999	$ 18,000														18,000
Common shares issued as partial consideration for intangible asset (in shares)														6,000
Common stock issued for services (in shares)													170,000
Restricted common stock issued														$ 268				(268)
Restricted common stock issued (in shares)														2,677,744
Restricted common stock cancelled														$ (12)				12
Restricted common stock cancelled (in shares)														(117,744)
Additional Paid in Capital, Amortization of Equity Options And Awards															$ 1,606,578	$ 68,239	$ 2,111,845			$ 1,606,578	$ 68,239	$ 2,111,845
Common stock and warrants issued for cash, net of issuance costs	[3]													$ 130				6,134,870					6,135,000
Common stock and warrants issued for cash, net of issuance costs (in shares)	[3]									650				1,300,000
Net loss																			(11,911,151)				(11,911,151)
Balance at Dec. 31, 2021														$ 10,479				$ 39,512,122	$ (23,157,559)				$ 16,365,042
Balance (shares) at Dec. 31, 2021														104,792,072
[1]	Includes gross proceeds of $8,000,001 , less issuance costs of $730,152 ( $705,300 of cash and $24,852 of non-cash).
[2]	Amount represents gross proceeds of $1,501,696 less $78,259 issuance costs.
[3]	Represents $6,500,000 of relative fair value of preferred stock issued, net of cash issuance costs of $365,000.

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIENCY) (Parenthetical)	12 Months Ended
	Dec. 31, 2021USD ($)
Net of cash issuance costs	$ 365,000
Gross proceeds	6,500,000
Proceeds from Issuance of Common Stock	18,000
Fair value of preferred stock issued	6,500,000
Common stock
Payments of Stock Issuance Costs	730,152
Gross Proceeds From Issuance Of Common Stock and Warrants	8,000,001
Common stock | Cash
Payments of Stock Issuance Costs	705,300
Common stock | Non Cash
Non-cash issuance costs	24,852
Standby Equity Distribution Agreement | Common stock
Payments of Stock Issuance Costs	78,259
Proceeds from sale of common stock issued pursuant to the SEDA agreement	$ 1,501,696

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020
Cash Flows From Operating Activities:
Net loss		$ (11,911,151)	$ (2,850,096)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization of debt discount		128,198	501,802
Non-cash lease expense		149,130
Depreciation and amortization expense		67,715	15,746
Bad debt expense			933
Change in fair value of accrued issuable equity		125,821	2,594
Stock-based compensation		4,200,091	343,854
Changes in operating assets and liabilities:
Accounts receivable		(80,834)	(26,324)
Inventory		(135,859)	(28,361)
Prepaid expenses and other current assets		(419,892)	(115,995)
Security deposits		(50,213)	(296,072)
Accounts payable		385,342	(271,290)
Accrued expenses and other current liabilities		768,215	(12,044)
Lease liability		(144,540)
Deferred revenue		112,303	5,000
Total Adjustments		5,105,477	119,843
Net Cash Used In Operating Activities		(6,805,674)	(2,730,253)
Cash Flows From Investing Activities:
Vendor deposits for the purchase of property and equipment		(2,153,950)
Purchase of property and equipment		(383,285)	(46,087)
Purchase of intangible assets		(200,000)
Net Cash Used In Investing Activities		(2,737,235)	(46,087)
Cash Flows from Financing Activities:
Proceeds from Paycheck Protection Program loan			155,226
Proceeds from note payable			3,710,000
Payment of financing costs		(365,000)	(15,000)
Repayments of notes payable		(2,450,000)	(759,000)
Payment of debt issuance costs			(340,000)
Proceeds from the exercise of options		121,866
Proceeds from the exercise of warrants		11,719,204
Proceeds from sale of common stock and warrants			8,000,001
Payment of offering costs in connection with sale of common stock and warrants			(705,300)
Proceeds from sale of common stock issued pursuant to the SEDA agreement	[1]		1,501,696
Proceeds from sale of Series D Convertible Preferred Stock, common stock and warrants		6,500,000
Net Cash Provided By Financing Activities		15,526,070	11,547,623
Net Increase In Cash		5,983,161	8,771,283
Cash - Beginning of Period		8,880,140	108,857
Cash - End of Period		14,863,301	8,880,140
Cash paid during the period for:
Interest		1,635	3,890
Non-cash investing and financing activities:
Right of use asset for lease liability		814,817
Original issuance discount on note payable			290,000
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
Common stock issued in satisfaction of accrued issuable equity		209,200
Common stock issued as partial consideration for intangible asset		18,000
Series B Convertible Preferred Stock
Non-cash investing and financing activities:
Disposal of fully depreciated property and equipment			1,829
Common stock issued upon conversion		70	3
Series C Convertible Preferred Stock
Non-cash investing and financing activities:
Common stock issued for repayment of note payable			791,000
Common stock issued upon conversion			$ 24
Common stock issued as partial consideration for intangible asset		18,000
Series D Convertible Preferred Stock
Non-cash investing and financing activities:
Common stock issued upon conversion		$ 317
[1]	Includes gross proceeds of $2,292,696 less $791,000 withheld by the investor to pay down a portion of the notes payable held by the same investor.

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - Standby Equity Distribution Agreement - Common stock	12 Months Ended
	Dec. 31, 2021USD ($)
Gross cash proceeds from common stock	$ 2,292,696
Proceeds from issuance withheld by investors	$ 791,000

ORGANIZATION, NATURE OF OPERATI

ORGANIZATION, NATURE OF OPERATIONS AND RISKS AND UNCERTANTIES	12 Months Ended
	Dec. 31, 2021
ORGANIZATION, NATURE OF OPERATIONS AND RISKS AND UNCERTANTIES
ORGANIZATION, NATURE OF OPERATIONS AND RISKS AND UNCERTANTIES	NOTE 1 ORGANIZATION, NATURE OF OPERATIONS AND RISKS AND UNCERTANTIES Organization and Operations KULR Technology Group, Inc. was incorporated on December 11, 2015 under the laws of the State of Delaware as KT High-Tech Marketing, Inc. Effective August 30, 2018, KT High-Tech Marketing, Inc. changed its name to KULR Technology Group, Inc. 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 both, 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, electric vehicles, 5G communication, cloud computer infrastructure, consumer and industrial devices. Risks and Uncertainties In March 2020, the World Health Organization declared COVID-19, a novel strain coronavirus, a pandemic. During 2020 and continuing into 2022, 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 December 31, 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 2022 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	12 Months Ended
	Dec. 31, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation and Basis of Presentation The consolidated financial statements of the Company include the accounts of KULR Technology Group, Inc. and its wholly-owned subsidiary, KULR Technology Corporation. All significant intercompany transactions have been eliminated in the consolidation. The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Liquidity During the year ended December 31, 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 $11,841,070 in connection with the exercise of options and warrants to purchase common stock. During the year ended December 31, 2021, the Company repaid outstanding notes payable in the amount of $2,450,000 and paid financing costs in the amount of $365,000. As of December 31, 2021, the Company had cash of $14,863,301 and working capital of $13,302,935 . 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. Use of Estimates Preparation of financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, together with amounts disclosed in the related notes to the financial statements. The Company’s significant estimates used in these financial statements include, but are not limited to, fair value calculations for equity securities, stock-based compensation and the valuation allowance related to the Company’s deferred tax assets. Certain of the Company’s estimates could be affected by external conditions, including those unique to the Company and general economic conditions. It is possible that these external factors could have an effect on the Company’s estimates and could cause actual results to differ from those estimates. See Note 2 – Summary of Significant Accounting Policies, Stock-Based Compensation for additional discussion of the use of estimates in estimating the fair value of the Company’s common stock. Concentrations of Credit Risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consisted 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 were uninsured balances of $14,363,301 and $8,513,010 as of December 31, 2021 and 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 ​ Account Receivables ​ ​ For the Years Ended ​ ​ ​ ​ ​ ​ December 31, ​ As of December 31, ​ 2021 ​ 2020 2021 2020 Customer A 29 % * ​ * ​ * ​ Customer B * ​ * ​ * ​ 70 % Customer C * ​ * ​ 34 % * ​ Customer D * ​ * ​ * ​ 19 % Customer E 25 % 18 % * ​ * ​ Customer F ​ * ​ * ​ * ​ 10 % Customer G ​ 30 % * ​ 42 % * ​ Customer H ​ * ​ * ​ 21 % * ​ Customer I ​ * ​ 32 % * ​ * ​ Total 84 % 50 % 97 % 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 years ended December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Years Ended ​ ​ December 31, ​ ​ 2021 ​ 2020 Vendor A * 10 % Vendor B 14 % * ​ Total 14 % 10 % ​ * Less than 10% Accounts Receivable Accounts receivable are carried at their contractual amounts, less an estimate for uncollectible amounts. As of December 31, 2021 and 2020, no allowances for uncollectible amounts were determined to be necessary. Management estimates the allowance for bad debts based on existing economic conditions, the financial conditions of the customers, and the amount and age of past due accounts. Receivables are considered past due if full payment is not received by the contractual due date. Past due accounts are generally written off against the allowance for bad debts only after all collection attempts have been exhausted. 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 December 31, 2021, and 2020, the Company’s inventory was comprised solely of finished goods. Property and Equipment Property and equipment are stated at cost, net of accumulated depreciation which is recorded commencing at the in-service date using the straight-line method at rates sufficient to charge the cost of depreciable assets to operations over their estimated useful lives, which range from 3 to 7 years (see Note 4 – Property and Equipment for additional details). Leasehold improvements are amortized over the shorter of (a) the useful life of the asset; or (b) the remaining lease term. Maintenance and repairs are charged to operations as incurred. The Company capitalizes cost attributable to the betterment of property and equipment when such betterment extends the useful life of the assets. The Company reviews for the impairment of long-lived assets annually and whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. An impairment loss would be recognized when undiscounted future cash flows expected to result from the use of the asset and its eventual disposition are less than its carrying value. Intangibles Intangible assets are stated at fair value as of the date acquired, less accumulated amortization. Amortization is calculated based on the estimated useful lives of the assets, which were determined to be 20 years, using the straight-line method or another method that more fairly represents the utilization of the assets. The Company periodically evaluates the remaining useful lives of our intangible assets to determine whether events or circumstances warrant a revision to the remaining periods of amortization. In the event that the estimate of an intangible asset’s remaining useful life has changed, the remaining carrying amount of the intangible asset is amortized prospectively over that revised remaining useful life. If it is determined that an intangible asset has an indefinite useful life, that intangible asset would be subject to impairment testing annually or whenever events or circumstances indicate that its carrying value may not, based on future undiscounted cash flows or market factors, be recoverable. An impairment loss, the recorded amount of which would be based on the fair value of the intangible asset at the measurement date, would be recorded in the period in which the impairment determination was made. Fair Value of Financial Instruments The Company measures the fair value of financial assets and liabilities based on the guidance of Accounting Standards Codification (“ASC”) 820 “Fair Value Measurements and Disclosures” (“ASC 820”) which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value: Level 1 — quoted prices in active markets for identical assets or liabilities Level 2 — quoted prices for similar assets and liabilities in active markets or inputs that are observable Level 3 — inputs that are unobservable (for example, cash flow modeling inputs based on assumptions) The carrying amounts of the Company’s financial instruments, such as cash, accounts receivable, accrued expenses and other current liabilities, notes payable and loans payable approximate fair values due to the short-term nature of these instruments. Preferred Stock The Company applies the accounting standards for distinguishing liabilities from equity when determining the classification and measurement of its preferred stock. The Company’s preferred shares are classified as stockholders’ equity because they are not subject to mandatory redemption, which would result in liability classified instruments measured at fair value, and because they are not conditionally redeemable preferred shares (including preferred shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) which would result in temporary equity classified instruments. Convertible Instruments The Company evaluates its convertible instruments to determine if those contracts or embedded components of those contracts qualify as derivative financial instruments to be separately accounted for in accordance with Topic 815 of the FASB ASC. The accounting treatment of derivative financial instruments requires that the Company record embedded conversion options and any related freestanding instruments at their fair values as of the inception date of the agreement and at fair value as of each subsequent balance sheet date. Any change in fair value is recorded as non-operating, non-cash income or expense for each reporting period at each balance sheet date. The Company reassesses the classification of its derivative instruments at each balance sheet date. If the classification changes as a result of events during the period, the contract is reclassified as of the date of the event that caused the reclassification. Embedded conversion options and any related freestanding instruments are recorded as a discount to the host instrument. If the instrument is determined not to be a derivative liability, the Company then evaluates for the existence of a beneficial conversion feature by comparing the market price of the Company’s common stock as of the commitment date to the effective conversion price of the instrument. Accrued Issuable Equity The Company records accrued issuable equity when it is contractually obligated to issue shares and there has been a delay in the issuance of such shares. Accrued issuable equity is recorded and carried at fair value with changes in its fair value recognized in the Company’s consolidated statements of operations. Once the underlying shares of common stock are issued, the accrued issuable equity is reclassified as of the share issuance date at the then current fair market value of the common stock. Offering Costs Offering costs, which primarily consist of direct, incremental professional fees incurred in connection with a debt or equity financing, are capitalized as deferred offering costs (a non-current asset) on the balance sheet. Once the financing closes, the Company reclassifies such costs as either discounts to notes payable or as a reduction of proceeds received from equity transactions so that such costs are recorded as a reduction of additional paid-in capital. If the completion of a contemplated financing was deemed to be no longer probable, the related deferred offering costs would be charged to general and administrative expense in the consolidated financial statements. 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 that core principle: ● 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 the customer obtains control of the goods and the Company satisfies its performance obligation, which is generally at the time it ships the product to the customer. ● 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 in its consolidated statements of operations: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Years Ended ​ ​ December 31, ​ 2021 2020 Product sales ​ $ 1,495,328 ​ $ 404,467 Contract services ​ 917,540 ​ 219,498 Total revenue ​ $ 2,412,868 ​ $ 623,965 ​ As of December 31, 2021 and 2020, the Company had $132,303 and $20,000 of deferred revenue, respectively, As of December 31, 2021 and 2020, the Company had $84,324 and $31,212, respectively, of deferred labor costs, which is included in prepaid expenses and other current assets in the Company’s 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 consolidated statements of operations. As of December 31, 2021, the Company reclassed $18,887 of shipping and handling costs from selling, general and administrative expense to cost of revenue for the year ended December 31, 2020. Research and Development Research and development include expenses incurred in connection with the research and development of our CFV thermal management solution, high-areal-capacity battery electrodes, 3D engineering for a rechargeable battery and non-cash stock-based compensation expenses. Research and development expenses are charged to operations as incurred. Advertising Costs Advertising costs are expensed in the period incurred. Advertising costs charged to operations for the years ended December 31, 2021 and 2020 were $145,025 and $123,846, respectively, and are included in selling, general and administrative in the consolidated statements of operations. Stock-Based Compensation The Company measures the cost of services received in exchange for an award of equity instruments based on the fair value of the award since the fair value of the award is more readily determinable than the value of the services. The fair value of the award is measured on the grant date. The fair value amount is then recognized over the period during which services are required to be provided in exchange for the award, usually the vesting period. Upon the exercise of an award, the Company issues new shares of common stock out of its authorized shares. During the period from January 1, 2020 through June 17, 2020, it was determined that the Company’s common stock had a fair value of $0.66 per share, which was based on a number of factors, such as the examination of the sales of common stock for cash and the convertible preferred stock for cash etc. For the period from June 18, 2020 through December 31, 2021, the Company estimated the fair value of the awards granted in this period based on the market value of its freely tradable common stock as reported on the OTCQB market. The Company determined the freely tradable common stock price became a reliable and accurate representation of its fair market value during this period as a result of increased share volume and dollar trading volume. Net Loss Per Common Share Basic net loss per common share is computed by dividing net loss by the weighted average number of vested common shares outstanding during the period. 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. The following shares were excluded from the calculation of weighted average dilutive common shares because their inclusion would have been anti-dilutive: ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2021 2020 Series B Convertible Preferred Stock — 698,600 Unvested restricted stock ​ 2,590,000 ​ — Unvested market -based equity awards ​ 3,000,000 ​ — Options ​ 405,216 ​ 370,000 Warrants ​ 2,594,553 ​ 6,787,911 Total 8,589,769 7,856,511 ​ Operating Leases The Company leases properties under operating leases. For leases in effect upon adoption of Accounting Standards Update (“ASU”) 2016-02, “Leases (Topic 842)” at January 1, 2020 and for any leases commencing thereafter, the Company recognizes a liability to make lease payments, the “lease liability”, and an asset representing the right to use the underlying asset during the lease term, the “right-of-use asset”. The lease liability is measured at the present value of the remaining lease payments, discounted at the Company's incremental borrowing rate. The right-of-use asset is measured at the amount of the lease liability adjusted for the remaining balance of any lease incentives received, any cumulative prepaid or accrued rent if the lease payments are uneven throughout the lease term, any unamortized initial direct costs, and any impairment of the right-of-use-asset. Operating lease expense consists of a single lease cost calculated so that the remaining cost of the lease is allocated over the remaining lease term on a straight-line basis, variable lease payments not included in the lease liability, and any impairment of the right-of-use asset. Income Taxes The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of items that have been included or excluded in the financial statements or tax returns. Deferred tax assets and liabilities are determined on the basis of the difference between the tax basis of assets and liabilities and their respective financial reporting amounts (“temporary differences”) at enacted tax rates in effect for the years in which the temporary differences are expected to reverse. The Company utilizes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Management has evaluated and concluded that there were no material uncertain tax positions requiring recognition in the Company’s financial statements as of December 31, 2021 and 2020. The Company does not expect any significant changes in its unrecognized tax benefits within twelve months of the reporting date. The Company’s policy is to classify assessments, if any, for tax related interest as interest expense and penalties as selling, general and administrative expenses in the consolidated statements of operations. Reclassifications Certain prior period balances have been reclassified in order to conform to the current period presentation. These reclassifications have no effect on previously reported results of operations or loss per share. Subsequent Events The Company has evaluated subsequent events through the date which the consolidated financial statements were 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 consolidated financial statements, except as disclosed. 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. ASU 2020-06 simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts in an entity’s own equity. ASU 2020-06 requires entities to provide expanded disclosures about the terms and features of convertible instruments and amends certain guidance in ASC 260, Earnings per Share, relating to the computation of earnings per share for convertible instruments and contracts in an entity’s own equity. The guidance becomes effective for the Company on January 1, 2024, with early adoption permitted. The Company is currently evaluating the impact of this new standard on its consolidated financial statements. In October 2020, the FASB issued ASU 2020-10 “Codification Improvements”, which improves consistency by amending the Codification to include all disclosure guidance in the appropriate disclosure sections and clarifies application of various provisions in the Codification by amending and adding new headings, cross referencing to other guidance, and refining or correcting terminology. The guidance is effective for the Company beginning in the first quarter of fiscal year 2022 with early adoption permitted. The Company does not expect the adoption of this standard to have a material impact on its consolidated financial statements. 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. 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 consolidated financial statements and related disclosures.

PREPAID EXPENSES AND OTHER CURR

PREPAID EXPENSES AND OTHER CURRENT ASSETS	12 Months Ended
	Dec. 31, 2021
PREPAID EXPENSES AND OTHER CURRENT ASSETS
PREPAID EXPENSES AND OTHER CURRENT ASSETS	NOTE 3 PREPAID EXPENSES AND OTHER CURRENT ASSETS As of December 31, 2021 and 2020, prepaid expenses and other current assets consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ 2021 2020 Inventory deposits ​ $ 309,688 ​ $ — Deferred labor costs ​ ​ 84,324 ​ ​ 31,212 Insurance ​ ​ 69,925 ​ ​ 10,429 Professional fees ​ 65,118 ​ 9,354 Other ​ 31,074 ​ 41,370 Marketing ​ ​ 10,231 ​ ​ 58,103 Total prepaid expenses ​ $ 570,360 ​ $ 150,468 ​

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	12 Months Ended
	Dec. 31, 2021
PROPERTY AND EQUIPMENT
PROPERTY AND EQUIPMENT	NOTE 4 PROPERTY AND EQUIPMENT As of December 31, 2021 and 2020, property and equipment consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ ​ 2021 2020 Estimated Useful Life Computer equipment ​ $ 47,503 ​ $ 11,525 ​ 3 years Leasehold improvements ​ 339,422 ​ 8,834 ​ Lesser of the useful life of the asset or remaining term of the lease Software ​ 18,714 ​ 5,656 ​ 3 years Machinery & equipment ​ 72,392 ​ 72,392 ​ 5 -7 years Research and development equipment ​ 12,810 ​ 12,810 ​ 3 years Furniture and fixtures ​ 6,968 ​ 3,307 ​ 5 years ​ ​ 497,809 ​ 114,524 ​ ​ Less: accumulated deprecation ​ (123,334) ​ (56,667) ​ ​ Property and equipment, net ​ $ 374,475 ​ $ 57,857 ​ ​ ​ Depreciation expense amounted to $66,667 and $15,746 for the years ended December 31, 2021 and 2020, respectively, which is included in selling, general and administrative and research and development expenses in the consolidated statements of operations.

INTANGIBLE ASSETS

INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2021
INTANGIBLE ASSETS
INTANGIBLE ASSETS	NOTE 5 INTANGIBLE ASSETS In December 2021, the Company acquired a patent for consideration of $218,000. This long-lived intangible asset has a useful life of approximately 20 years, which is being amortized on a straight-line basis and tested for impairment on an annual basis. As of December 31, 2021, the Company had no impairments of intangibles and recognized amortization expense related to the intangible of $1,048.

VENDOR DEPOSITS

VENDOR DEPOSITS	12 Months Ended
	Dec. 31, 2021
VENDOR DEPOSITS
VENDOR DEPOSITS	NOTE 6 VENDOR DEPOSITS The Company entered into agreements with third party contractors for facility improvements, the design and build of a battery packaging and inspection automation system, and automated robotic tending system. As of December 31, 2021, the Company had outstanding deposits of $2,153,950 in connection with these agreements.

ACCRUED EXPENSES AND OTHER CURR

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	12 Months Ended
	Dec. 31, 2021
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	NOTE 7 ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES As of December 31, 2021 and 2020, accrued expenses and other current liabilities consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ 2021 2020 Legal and professional fees ​ $ 418,154 ​ $ 81,902 Payroll and vacation ​ ​ 302,101 ​ ​ 279,054 Research and development ​ 146,158 ​ — Accrued cost of sales ​ 128,500 ​ — Board compensation ​ 45,680 ​ — Marketing and advertising fees ​ ​ 37,810 ​ ​ — Other ​ 84,824 ​ 36,684 Total accrued expenses and other current liabilities ​ $ 1,163,227 ​ $ 397,640 ​ Related Party Transactions Accrued expenses and other current liabilities include $0 and $2,628 as of December 31, 2021 and 2020, respectively, payable 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. On September 30, 2021, ESLI agreed to forgive $2,628 of previously billed consulting fees. As a result, the Company accounted for the forgiveness by reducing accrued expenses and other current liabilities by $2,628 and recording a corresponding credit to research and development expense. As of December 31, 2021, the Company reclassed $2,628 of accounts payable-related party liabilities to accrued expenses and other current liabilities for the year ended December 31, 2020.

ACCRUED ISSUABLE EQUITY

ACCRUED ISSUABLE EQUITY	12 Months Ended
	Dec. 31, 2021
ACCRUED ISSUABLE EQUITY.
ACCRUED ISSUABLE EQUITY	NOTE 8 ACCRUED ISSUABLE EQUITY A summary of the accrued issuable equity activity during the year ended December 31, 2021, is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ 2021 2020 Beginning Balance $ 128,380 ​ $ — Additions ​ 245,720 ​ 205,297 Reclassifications to equity upon issuance ​ (209,200) ​ (79,511) Mark-to market ​ 125,821 ​ 2,594 Ending Balance ​ $ 290,721 ​ $ 128,380 ​ Accrued Issuable Equity for Services During the years ended December 31, 2021 and 2020, the Company entered into certain contractual arrangements for services in exchange for a fixed number of shares of common stock of the Company. On the respective dates the contracts were entered into, the estimated fair value of the shares to be issued was an aggregate of $245,720 and $205,297, respectively. During the years ended December 31, 2021 and 2020, the Company settled certain of its accrued issuable equity obligations through the issuance of an aggregate of 100,000 of its shares with an aggregate fair value of $209,200 and $79,511, respectively, remeasured as of the date of settlement. During the years ended December 31, 2021 and 2020, the Company recorded an aggregate of $125,821 and $2,594, respectively, of losses related to the change in fair value of accrued issuable equity (see Note 13 – Stockholders’ Equity, Stock-Based Compensation

LEASES

LEASES	12 Months Ended
	Dec. 31, 2021
LEASES
LEASES	NOTE 9 LEASES The Company leases office space in San Diego, California. The lease, as amended, provided for monthly rental payments of $5,127, and the lease term expired on June 30, 2021. Subsequent to the expiration of the lease term, the Company entered into a verbal agreement with the landlord to continue occupying the space on a month-to-month basis until the Company eventually moved out in October 2021. The Company evaluated this operating lease and determined that the short-term exemption available under ASC 842 applied since the lease term is less than 12 months and the lease does not include a purchase option whose exercise is reasonably certain. Since the short-term exemption applies, lease payments are recognized as an expense and no right of use asset or lease liability was recorded related to this lease. 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 to renew for an additional five years. Management does not expect to exercise its option to renew. Monthly rental payments under the new lease begin at $23,787, which is comprised of $18,518 of base rent plus $5,268 of common area maintenance fees, with annual escalation of 3.5%. The Company paid a security deposit of $50,213 in connection with the new lease agreement. 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% based on information available at the commencement date of the lease. During the years ended December 31, 2021 and 2020, operating lease expense was $223,548 and $63,751, respectively. As of December 31, 2021, the Company does not have any financing leases. Maturities of lease liabilities as of December 31, 2021 were as follows: ​ ​ ​ ​ ​ Maturity Year Amount 2022 ​ $ 289,981 2023 ​ 297,917 2024 ​ 125,530 Total lease payments ​ 713,428 Less: Imputed interest ​ (43,151) Present value of lease liabilities ​ 670,277 Less: current portion ​ (262,379) Lease liabilities, non-current portion ​ $ 407,898 ​ Supplemental cash flow information related to the lease was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Years Ended ​ ​ December 31, ​ ​ 2021 ​ 2020 Cash paid for amounts included in the measurement of lease liabilities ​ ​ Operating cash flows from operating lease ​ $ 166,509 ​ $ — Right-of-use asset obtained in exchange for lease obligations ​ ​ Operating lease ​ $ 814,817 ​ $ — ​

NOTES PAYABLE

NOTES PAYABLE	12 Months Ended
	Dec. 31, 2021
NOTES PAYABLE.
NOTES PAYABLE	NOTE 10 NOTES PAYABLE A summary of the notes payable activity during the years ended December 31, 2021 and 2020, is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Notes Debt ​ ​ Payable ​ Discount ​ Total Balance, January 1, 2020 ​ $ — ​ $ — ​ $ — Issuances ​ 4,000,000 ​ (630,000) ​ 3,370,000 Repayments in cash ​ (759,000) ​ — ​ (759,000) Repayments from proceeds of SEDA ​ (791,000) ​ — ​ (791,000) Amortization of debt discount ​ — ​ 501,802 ​ 501,802 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, December 31, 2021 ​ $ — ​ $ — ​ $ — ​ During the year ended December 31, 2020, the Company entered into note purchase agreements with the YAII PN, Ltd., a Cayman Island exempt limited partnership (the “Investor”), pursuant to which the Investor purchased full recourse promissory notes (the “Notes”) in the original aggregate principal amount of $4,000,000 (“Principal Amount”) for cash proceeds of $3,710,000. The Notes included an original issue discount of $290,000, which represents the difference between the principal and proceeds received. The original issue discount, along with the $340,000 advisory fees were recorded as a debt discount which were amortized over the term of the respective Notes using the effective interest rate method. During the year ended December 31, 2020, the Company repaid principal on the Notes in the aggregate amount of $1,550,000 and during the year ended December 31, 2021, the Company repaid principal on the Notes in the aggregate amount of $2,450,000, such that the balance on the Notes is $0 at December 31, 2021. The Company paid debt redemption costs in the aggregate amount of $140,000, which were recognized as expense during the year ended December 31, 2021. See Note 13 – Stockholders’ Equity (Deficiency) for additional details. The Company recorded amortization expense related to the debt discount of $128,198 and $501,802 during the years ended December 31, 2021 and 2020, respectively.

LOAN PAYABLE

LOAN PAYABLE	12 Months Ended
	Dec. 31, 2021
LOAN PAYABLE
LOAN PAYABLE	NOTE 11 LOAN PAYABLE On April 27, 2020, the Company received $155,226 of cash proceeds pursuant to an unsecured loan (the “PPP” Loan) provided in connection with the Paycheck Protection Program (“PPP”) under the Coronavirus Aid, Relief, and Economic Security Act and applicable regulations (“CARES Act”). Under the terms of the CARES Act, as amended by the Paycheck Protection Program Flexibility Act of 2021, the Company is eligible to apply for and receive forgiveness for all or a portion of the PPP Loan. Such forgiveness will be determined, subject to limitations, based on the use of the loan proceeds for certain permissible purposes as set forth in the PPP, including, but not limited to, payroll costs (as defined under the PPP) and mortgage interest, rent or utility costs (collectively, “Qualifying Expenses”) incurred during the 24 weeks subsequent to funding, and on the maintenance of employee and compensation levels, as defined, following the funding of the PPP Loan. The Company used the proceeds of the PPP Loan for Qualifying Expenses. However, no assurance is provided that KULR will be able to obtain forgiveness of the PPP Loan in whole or in part. Any amounts not forgiven incur interest at 1.0% per annum and monthly repayments of principal and interest are deferred to the earlier of (i) when the Small Business Administration remits the forgiven amount to the lender or notifies the lender that no forgiveness is allowed or (ii) October 31, 2021. While the Company’s PPP Loan currently has a two-year maturity, the amended law will permit the Company to request a five-year maturity, subject to the approval of the counterparty. The Company recorded interest expense of $1,701 and $923 during the years ended December 31, 2021 and 2020, respectively. As of December 31, 2021, the Company’s accrued interest related to the PPP Loan was $2,624.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2021
INCOME TAXES
INCOME TAXES	NOTE 12 INCOME TAXES The income tax provision for the years ended December 31, 2021 and 2020 consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Years Ended ​ ​ December 31, ​ 2021 2020 Federal: ​ ​ Current ​ $ — ​ $ — Deferred ​ (2,359,473) ​ (474,692) ​ ​ ​ State and local: ​ ​ Current ​ — ​ — Deferred ​ (996,095) ​ (164,651) ​ ​ (3,355,568) ​ (639,343) Change in valuation allowance ​ 3,355,568 ​ 639,343 Income tax provision ​ $ — ​ $ — ​ A reconciliation of the statutory federal income tax rate to the Company’s effective tax rate is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Years Ended ​ ​ December 31, ​ 2021 2020 ​ ​ ​ ​ ​ ​ Tax benefit at federal statutory rate (21.0) % (21.0) % State income taxes, net of federal benefit (6.0) % (6.0) % Permanent differences (1.0) % 0.5 % Incremental research and development tax credits 0.0 % 0.0 % Other and prior year true-ups 0.0 % 4.1 % Change in valuation allowance 28.0 % 22.4 % Effective income tax rate 0.0 % 0.0 % ​ The Company has determined that a valuation allowance for the entire net deferred tax asset is required. A valuation allowance is required if, based on the weight of evidence, it is more likely than not that some or the entire portion of the deferred tax asset will not be realized. After consideration of all the evidence, management has determined that a full valuation allowance is necessary to reduce the deferred tax asset to zero. The tax effects of temporary differences that give rise to deferred tax assets and liabilities are presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Years Ended ​ ​ December 31, ​ 2021 2020 Deferred Tax Assets: ​ ​ Net operating loss carryforwards ​ $ 4,978,331 ​ $ 2,799,135 Research and development credit carryforwards ​ 270,188 ​ 51,199 Stock-based compensation ​ 981,067 ​ 11,062 Accruals ​ 55,460 ​ 68,082 Gross deferred tax assets ​ 6,285,046 ​ 2,929,478 Valuation allowance ​ (6,285,046) ​ (2,929,478) ​ ​ ​ ​ Deferred tax asset, net of valuation allowance ​ $ — ​ $ — ​ ​ ​ ​ Changes in valuation allowance ​ $ 3,355,568 ​ $ 639,343 ​ At December 31, 2021 and 2020, the Company had federal net operating loss carry forwards of approximately $18.6 million and $10.0 million, respectively. At December 31, 2021, approximately $3.9 million of federal net operating losses will expire from 2033 to 2037, and approximately $14.7 million will have no expiration. At December 31, 2021 and 2020, the Company had state net operating loss carry forwards of approximately $18.1 million and $9.5 million, respectively, which will begin to expire in 2024. The net operating loss carryovers may be subject to annual limitations under Internal Revenue Code Section 382, and similar state provisions, should there be a greater than 50% ownership change as determined under the applicable income tax regulations. The amount of the limitation would be determined based on the value of the company immediately prior to the ownership change and subsequent ownership changes could further impact the amount of the annual limitation. An ownership change pursuant to Section 382 may have occurred in the past or could happen in the future, such that the NOLs available for utilization could be significantly limited. The Company files federal and state (California) tax returns which are subject to audit for the years ending on or after December 31, 2017. No tax audits were commenced or were in process during the years ended December 31, 2021 and 2020.

STOCKHOLDERS' EQUITY (DEFICIENC

STOCKHOLDERS' EQUITY (DEFICIENCY)	12 Months Ended
	Dec. 31, 2021
STOCKHOLDERS' EQUITY (DEFICIENCY)
STOCKHOLDERS' EQUITY (DEFICIENCY)	NOTE 13 STOCKHOLDERS’ EQUITY (DEFICIENCY) Authorized Capital The Company is authorized to issue 500,000,000 shares of common stock, par value of $0.0001 per share, and 20,000,000 shares of preferred stock, par value of $0.0001 per share. The holders of the Company’s common stock are entitled to one vote per share. The preferred stock is designated as follows: 1,000,000 shares designated as Series A Preferred Stock, 31,000 shares designated as Series B Convertible Preferred Stock, 400 shares designated as Series C Preferred Stock, and 650 shares designated as Series D Convertible Preferred Stock. Equity Incentive Plan On August 15 and November 5, 2018, the Board of Directors and a majority of the Company’s shareholders, respectively, approved the 2018 Equity Incentive Plan (the “2018 Plan”). Under the 2018 Plan, 15,000,000 shares of common stock of the Company are authorized for issuance. The 2018 Plan provides for the issuance of incentive stock options, non-statutory stock options, rights to purchase common stock, stock appreciation rights, restricted stock and restricted stock units to employees, directors and consultants of the Company and its affiliates. The 2018 Plan requires the exercise price of stock options to be not less than the fair value of the Company’s common stock on the date of grant. As of December 31, 2021, there were 12,336,047 shares available for issuance under the 2018 Plan. Standby Equity Distribution Agreement On February 27, 2020, KULR Technology Group, Inc. entered into a Standby Equity Distribution Agreement (“SEDA”) with an investor (the “Investor”), pursuant to which the Company may, at its discretion, sell to the Investor up to $8,000,000 of shares of the Company’s common stock (the “Offering”), par value $0.0001 per share (the “Common Stock”). For each share of Common Stock purchased under the SEDA (the “Shares”), the Investor will pay the Company 80% of the lowest daily volume weighted average price of the Common Stock on the OTC Markets OTCQB or other principal market on which the Common Stock is traded for the five days immediately following the date the Company delivers notice requiring the Investor to purchase the Shares under the SEDA. The commitment period under the SEDA commenced on February 27, 2020 (the “Effective Date”) and expires on the earliest to occur of (i) first day of the month following the twenty-four months after the Effective Date, (ii) the date on which the Investor has purchased an aggregate amount of $8,000,000 of Shares under the SEDA, or (iii) the date the SEDA is earlier terminated. As of December 31, 2021 and 2020, the Company was prohibited from issuing shares pursuant to the SEDA as a result of it being a Variable Rate Transaction pursuant to the Public Offering Purchase Agreement, described below. Effective March 1, 2022, the SEDA expired, and shares are no longer issuable under the agreement. The Company paid cash of $15,000 and issued 95,847 shares of Common Stock to the Investor as consideration for entering into the SEDA. The shares of common stock issued to the Investor had an issuance date fair value of $63,259. The aggregate consideration of $78,259 was recorded as deferred offering costs and additional paid in capital on the consolidated balance sheet. During the year ended December 31, 2020 the Company issued an aggregate of 1,841,548 shares of common stock, at prices between $0.72 - $1.65 per share, for aggregate proceeds of $2,214,437, in connection with notices submitted to the Investor under the SEDA, of which $791,000 of the proceeds, were applied directly against the Notes. As of December 31, 2020, the Company had approximately $5,707,305 available in connection with the SEDA, however, as a result of warrants issued during 2020 in an unrelated transaction which were outstanding, the Company could not issue shares in connection with Variable Rate Transactions pursuant to the Public Offering Purchase Agreement, described below. Series A Preferred Stock Each record holder of Series A Preferred Stock shall have the right to vote on any matter with holders of the Company’s common stock and other securities entitled to vote, if any, voting together as one (1) class. Each record holder of Series A Preferred Stock is entitled to one-hundred (100) votes per share of Series A Preferred Stock held by such holder. The Series A Preferred Stock is not convertible into any series or class of stock of the Company. In addition, holders of the Series A Preferred Stock shall not be entitled to receive dividends, nor do they have a right to distribution from the assets of the Company in the event of any liquidation, dissolution, or winding up of the Company. On November 5, 2018, the Company received a written consent of the majority of the stockholders to issue 1,000,000 shares of the Company’s Series A Preferred Stock to Mr. Mo, if necessary, as a measure to protect the Company from an uninvited takeover. As of the date of filing, the shares of Series A Preferred Stock have not been issued. Series B Convertible Preferred Stock Holders of shares of Series B Convertible Preferred Stock are not entitled to voting rights or dividend rights. The Series B Convertible Preferred Stock does not contain any redemption provisions or other provisions requiring cash settlement within control of the holder. Series B Convertible Preferred Stock is senior in liquidation preference to common stock. Each share of Series B Convertible Preferred Stock, after 181 days after issuance and without the payment of additional consideration, is convertible at the option of the holder into fifty (50) fully paid and non-assessable shares of common stock. It was determined that the embedded conversion option is clearly and closely related to the equity host, therefore it is not bifurcated and not accounted for as a derivative. During the year ended December 31, 2020, a holder of 515 shares of Series B Convertible Preferred Stock elected to convert their shares into 25,758 shares of common stock. During the year ended December 31, 2021, the Company issued an aggregate of 698,600 shares of common stock upon the conversion of 13,972 shares of Series B Preferred stock, after which no Series B Convertible Preferred Stock remained outstanding. Series C Convertible Preferred Stock Series C Convertible Preferred Stock is senior in liquidation preference to the Company’s common stock for an amount equal to the stated value per share of $10,000 (“Stated Value”). Holders of shares of Series C Convertible Preferred Stock shall vote on an as-if-converted-to-common-stock basis with the common stockholders. Holders of shares of Series C Convertible Preferred Stock are entitled to receive dividends when, as and if declared by the Board of Directors, at an annual rate of twelve percent (12)% beginning one year after each share's issuance. The Company may elect to redeem all or part of each share of Series C Convertible Preferred Stock for the Stated Value. During the year ended December 31, 2020, certain holders of 5.11 shares of Series C Convertible Preferred stock elected to convert their shares into an aggregate of 56,777 shares of common stock. During the year ended December 31, 2020, a Qualified Offering occurred and 18.90 shares of Series C Convertible Preferred Stock were mandatorily converted into an aggregate of 177,885 shares of common stock of the Company and warrants for the purchase of an aggregate of 177,855 shares of common stock of the Company. The warrants are immediately exercisable and may be exercised at any time until December 31, 2025, at an exercise price of $1.25 per share. As a result of the Series C Preferred Stock having an effective conversion price that was lower than the market price on the commitment date, the Company immediately recognized a beneficial conversion feature of $1,691 as a deemed dividend, which increased the net loss attributable to common stockholders. Additionally, since the Company had an accumulated deficit, the impact was equity neutral to its additional paid-in capital. There are no Series C Convertible shares outstanding at December 31, 2021 or 2020. Series D Convertible 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 3,170,730 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, debt redemption costs of $140,000, and the remaining notes payable obligation of $1,400,000 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 3,170,730 shares of common stock, after which no Series D Convertible Preferred Stock remained outstanding. Common Stock During the year ended December 31, 2021, the Company issued an aggregate of 176,000 shares of immediately vested common stock with a grant date value of $394,909 for legal and consulting services, of which, 6,000 shares with a grant date value of $18,000 has been applied to the total cost of the intangible asset acquired during the year ended December 31, 2021. Public Offering On December 29, 2020, the Company entered into a securities purchase agreement (the “Public Offering Purchase Agreement”) with investors for the purchase and sale of an aggregate of 6,400,001 shares of the Company’s common stock (the “Shares”) and warrants to purchase an aggregate of up to 6,400,001 shares of common stock (“Warrants”), in a registered direct offering at a combined purchase price of $1.25 per Share and Warrant, for aggregate gross proceeds to the Company of $8,000,001. The Warrants are immediately exercisable and may be exercised at any time until December 31, 2025, at an exercise price of $1.25 per share. The Warrants were determined to be classified within stockholders’ equity at their fair value. The Company intends to use the net proceeds from this offering for working capital and general corporate purposes, as well as for capital expenditures. This registered direct offering closed on December 31, 2020. Additionally, pursuant to the Public Offering Purchase Agreement, the Company is prohibited from effecting or entering into an agreement to effect any issuance by the Company of common stock involving a variable rate transaction (“Variable Rate Transaction”) until such time as no Purchaser holds any of the Warrants. Pursuant to a co-placement agency agreement (the “Placement Agreement”) dated December 29, 2020 by and among the Company, Lake Street Capital Markets, LLC (“Lake Street”) and Maxim Group LLC (“Maxim”) (together with Lake Street, the “Co-Placement Agents”), the Company retained Lake Street and Maxim to act as the Company’s co-placement agents in connection with the registered direct offering. Pursuant to the Placement Agreement, the Company agreed to pay the co-placement agents a cash fee of 7.0% ($560,000) of the gross proceeds the Company receives under the Purchase Agreement. The total offering expenses incurred by the Company, other than the placement agent fees, were $170,152, which included the co-placement agents’ reimbursable expenses, legal, financial advisory fees, accounting, printing costs, listing fees, and various other expenses associated with registering and issuing the shares. As of December 31, 2020, of the offering costs described above, an aggregate of $24,852 of offering costs remained unpaid and are included in accrued expenses and other current liabilities on the accompanying consolidated balance sheet. Warrants A summary of warrants activity during the year ended December 31, 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 (6,793,358) ​ (1.73) ​ Expired — ​ — ​ Forfeited — ​ — ​ Outstanding, December 31, 2021 2,594,553 ​ $ 1.25 4.0 $ 3,917,775 Exercisable, December 31, 2021 2,594,553 ​ $ 1.25 4.0 $ 3,917,775 ​ A summary of outstanding and exercisable warrants as of December 31, 2021 is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 4.0 2,594,553 $ 1.50 — — — $ 2.50 ​ — ​ — ​ — ​ ​ ​ 2,594,553 ​ 4.0 ​ 2,594,553 ​ Stock Options 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 Years Ended ​ ​ ​ December 31, ​ ​ 2021 2020 ​ Risk free interest rate ​ 0.20% - 0.85 % ​ 1.58 % Expected term (years) ​ 2.5 - 3.5 ​ 2.50 Expected volatility ​ 93% - 109 % ​ 93.00 % Expected dividends ​ 0 % ​ 0 % ​ Option forfeitures are accounted for at the time of occurrence. The expected term used is the estimated period of time that options granted are expected to be outstanding. The Company utilizes the “simplified” method to develop an estimate of the expected term of “plain vanilla” employee option grants. The Company does not yet have a trading history to support its historical volatility calculations. Accordingly, the Company is utilizing an expected volatility figure based on a review of the historical volatility of comparable entities over a period of time equivalent to the expected life of the instrument being valued. The risk-free interest rate was determined from the implied yields from U.S. Treasury zero-coupon bonds with a remaining term consistent with the expected term of the instrument being valued. For the years ended December 31, 2021 and 2020, the weighted average grant date fair value per share of options was $0.80 and $0.36, respectively. A summary of options activity during the year ended December 31, 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 (184,784) ​ 0.66 ​ Expired — ​ — ​ Forfeited — ​ — ​ Outstanding, December 31, 2021 405,216 ​ $ 2.29 4.5 ​ $ 104,009 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exercisable, December 31, 2021 180,147 ​ $ 0.80 2.4 ​ $ 352,370 ​ The following table presents information related to stock options (excluding market-based option awards) as of December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ Options Outstanding ​ Options Exercisable ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ Outstanding ​ Average ​ Exercisable Exercise ​ Number of ​ Remaining Life ​ Number of Price Options In Years Options $ 0.66 972 2.2 162,500 $ 1.99 10,000 ​ 4.4 ​ 2,708 $ 2.03 ​ 20,000 ​ 4.4 ​ 5,000 $ 2.05 ​ 10,000 ​ — ​ — $ 2.08 ​ 10,000 ​ 4.4 ​ 2,708 $ 2.13 ​ 20,000 ​ — ​ — $ 2.27 ​ 29,730 ​ 4.5 ​ 7,230 $ 2.43 ​ 20,000 ​ — ​ — $ 2.44 ​ 100,000 ​ — ​ — ​ ​ ​ 220,702 ​ 2.4 ​ 180,146 ​ As of December 31, 2021, there was $152,948 of unrecognized stock-based compensation expense related to the above stock options, which will be recognized over the weighted average remaining vesting period of 2.7 years. Restricted Common Stock The following table presents information related to restricted common stock (excluding Market-Based Awards) as of December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ Shares of Restricted ​ Grant Date ​ ​ Common Stock ​ Fair Value Non-vested balance, January 1, 2021 72,500 ​ $ 1.24 Granted 2,677,744 ​ 2.56 Vested (42,500) ​ 2.25 Canceled (117,744) ​ 2.94 Non-vested shares, December 31, 2021 2,590,000 ​ $ 2.52 ​ As of December 31, 2021, there was $4,995,064 of unrecognized stock-based compensation expense related to restricted stock that will be recognized over the weighted average remaining vesting period of 3.1 years. Market-Based Awards The following table presents information related to market-based awards as of December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ Number of Grant Date Award ​ Shares ​ Fair Value Restricted Stock Units 1,500,000 ​ $ 2,911,420 Stock Options 1,500,000 ​ 2,579,000 ​ 3,000,000 ​ $ 5,490,420 ​ 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 per share, 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. As of December 31, 2021, no shares of the market-based awards have vested. Shares shall vest for each award in the following increments upon the Company’s market capitalization reaching the respective amounts as follows: ● $500 million market capitalization: 250,000 shares ● $1 billion market capitalization: 250,000 shares ● $1.5 billion market capitalization: 250,000 shares ● $2 billion market capitalization: 250,000 shares ● $3 billion market capitalization: 250,000 shares ● $4 billion market capitalization: 250,000 shares 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 term ​ 2.1 years ​ 2.2 years ​ Fair value of common stock on date of grant ​ $ 2.61 ​ $ 2.62 ​ ​ As of December 31, 2021, there was $3,378,576 of unrecognized stock-based compensation expense related to market-based awards which will be amortized over the remaining weighted average vesting period of 1.69 years. Stock-Based Compensation During the years ended December 31, 2021 and 2020, the Company recognized stock-based compensation expense of $4,200,091 and $343,854, respectively, related to restricted common stock, warrants and stock options, of which $4,171,241 and $312,922, respectively are included within selling, general and administrative expenses, and $28,850 and $30,932, respectively are included within research and development expenses on the consolidated statements of operations. The following table presents information related to stock-based compensation for the years ended December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Years Ended ​ ​ December 31, ​ 2021 2020 Common stock for services ​ $ 167,710 ​ $ 178,642 Amortization of restricted common stock ​ ​ 1,606,578 ​ ​ — Amortization of market-based awards ​ ​ 2,111,845 ​ ​ — Stock options ​ 68,239 ​ 39,426 Accrued issuable equity (common stock) ​ ​ 245,719 ​ ​ 125,786 Total ​ $ 4,200,091 ​ $ 343,854 ​

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2021
COMMITMENTS AND CONTINGENCIES.
COMMITMENTS AND CONTINGENCIES	NOTE 14 COMMITMENTS AND CONTINGENCIES Patent License Agreement On March 21, 2018, the Company entered into an agreement with the National Renewable Energy Laboratory (“NREL”) granting the Company an exclusive license to commercialize its patented Internal Short Circuit technology. The agreement is effective for as long as the licensed patents are enforceable, subject to certain early termination provisions specified in the agreement. In consideration, the Company agreed to pay to NREL the following: (i) a cash payment of $12,000 payable over one year, (ii) royalties ranging from 1.5% to 3.75% on the net sales price of the licensed products, as defined in the agreement, with minimum annual royalty payments ranging from $0 to $7,500. In addition, the Company shall use commercially reasonable efforts to bring the licensed products to market through a commercialization program that requires that certain milestones be met, as specified in the agreement. During the years ended December 31, 2021 and 2020, the Company recorded royalty expense of $2,558 and $2,876, respectively, which were included within cost of revenues. 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 year ended December 31, 2021, $250,000 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. As of December 31, 2021, the co-development technologies had not been agreed to and no portion of the technology fees has been paid. Research and Development Agreements On April 5, 2021, the Company entered into a two-year 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 year ended December 31, 2021, $217,641 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 year ended December 31, 2021, $123,375 of expense was recognized related to the agreement. Consulting Agreement On September 30, 2020, the Company entered into a 2-year consulting agreement with a contractor to provide services as an Advisory Board Member related to government and defense acquisitions in exchange for 60,000 shares of restricted common stock. Pursuant to the consulting agreement, the shares are subject to the Company’s claw back, based upon the satisfaction of meeting general performance parameters. As of December 31, 2021 and 2020, it was probable the contractor would satisfy the performance parameters and, as a result, the grant date fair value of the common stock is being recognized as stock-based compensation expense ratably over the vesting period. See Note 13 – Stockholders’ Equity (Deficiency) for additional details. On October 1, 2021, the Company entered into a three-month consulting agreement with a contractor to provide corporate advisory and financial relations services in exchange for 30,000 shares of restricted common stock and a minimum of $60,000. Following the initial term, this contract shall be automatically renewed for a six month period, pursuant to which the Company will be obligated to pay a minimum of $120,000 and issue an additional 100,000 shares of restricted common stock as compensation. Election of Directors and Appointment of Certain Officers On June 10, 2021, the Board of Directors of the Company appointed three new independent directors to the Board, to hold office until the earlier of the expiration of the term of office of the director whom they have replaced, a successor is duly elected and qualified, or the earlier of such director’s death, resignation, disqualification, or removal. Each director will receive quarterly cash compensation equal to $ 10,000 and each director will be granted 20,000 shares of common stock, which shares shall vest quarterly in 5,000 share installments with the first installment vesting immediately upon approval for uplisting to a national exchange. On March 3, 2021, the Company entered into a consulting agreement with Keith Cochran to act in the capacity of Executive Vice President. The consultant provided management and business development services to the Company. In consideration for services provided in January and February 2021, the Company compensated the consultant with $10,000 per month and 10,000 shares of its common stock per month. Effective March 1, 2021, the Company appointed Keith Cochran as President and Chief Operating Officer (“COO”) of the Company, to hold office until the earlier of the expiration of the term of office, a successor is duly elected and qualified, or the earlier of such officer’s death, resignation, disqualification, or removal. The COO will receive annual cash compensation and received an aggregate of 2,000,000 shares of its common stock, which shares will vest in four equal annual installments beginning on March 1, 2022. Additionally, the COO is eligible for incentive-based share grants totaling up to 1,500,000 shares of the Company’s common stock, which will be earned based on certain market capitalization achievement up to $4 billion. Sponsorship Agreement On December 16, 2021, the Company entered into a one-year sponsorship agreement which provides the Company with the right to display its name and logo during certain events during the period from January 1, 2022 through December 31, 2022. The Company paid an aggregate amount of $1,350,000 in sponsorship fees related to this agreement during the first quarter of 2022, which have been recorded as prepaid expenses and will be amortized over the performance period.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2021
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 15 SUBSEQUENT EVENTS Common Stock During March 2022, the Company issued an aggregate of 70,143 shares of common stock upon the exercise of warrants pursuant to which the Company received an aggregate of $87,679 of gross proceeds.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation The consolidated financial statements of the Company include the accounts of KULR Technology Group, Inc. and its wholly-owned subsidiary, KULR Technology Corporation. All significant intercompany transactions have been eliminated in the consolidation. The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”).
Liquidity	Liquidity During the year ended December 31, 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 $11,841,070 in connection with the exercise of options and warrants to purchase common stock. During the year ended December 31, 2021, the Company repaid outstanding notes payable in the amount of $2,450,000 and paid financing costs in the amount of $365,000. As of December 31, 2021, the Company had cash of $14,863,301 and working capital of $13,302,935 . 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.
Use of Estimates	Use of Estimates Preparation of financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, together with amounts disclosed in the related notes to the financial statements. The Company’s significant estimates used in these financial statements include, but are not limited to, fair value calculations for equity securities, stock-based compensation and the valuation allowance related to the Company’s deferred tax assets. Certain of the Company’s estimates could be affected by external conditions, including those unique to the Company and general economic conditions. It is possible that these external factors could have an effect on the Company’s estimates and could cause actual results to differ from those estimates. See Note 2 – Summary of Significant Accounting Policies, Stock-Based Compensation for additional discussion of the use of estimates in estimating the fair value of the Company’s common stock.
Concentrations of Credit Risk	Concentrations of Credit Risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consisted 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 were uninsured balances of $14,363,301 and $8,513,010 as of December 31, 2021 and 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 ​ Account Receivables ​ ​ For the Years Ended ​ ​ ​ ​ ​ ​ December 31, ​ As of December 31, ​ 2021 ​ 2020 2021 2020 Customer A 29 % * ​ * ​ * ​ Customer B * ​ * ​ * ​ 70 % Customer C * ​ * ​ 34 % * ​ Customer D * ​ * ​ * ​ 19 % Customer E 25 % 18 % * ​ * ​ Customer F ​ * ​ * ​ * ​ 10 % Customer G ​ 30 % * ​ 42 % * ​ Customer H ​ * ​ * ​ 21 % * ​ Customer I ​ * ​ 32 % * ​ * ​ Total 84 % 50 % 97 % 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 years ended December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Years Ended ​ ​ December 31, ​ ​ 2021 ​ 2020 Vendor A * 10 % Vendor B 14 % * ​ Total 14 % 10 % ​ * Less than 10%
Accounts Receivable	Accounts Receivable Accounts receivable are carried at their contractual amounts, less an estimate for uncollectible amounts. As of December 31, 2021 and 2020, no allowances for uncollectible amounts were determined to be necessary. Management estimates the allowance for bad debts based on existing economic conditions, the financial conditions of the customers, and the amount and age of past due accounts. Receivables are considered past due if full payment is not received by the contractual due date. Past due accounts are generally written off against the allowance for bad debts only after all collection attempts have been exhausted.
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 December 31, 2021, and 2020, the Company’s inventory was comprised solely of finished goods.
Property and Equipment	Property and Equipment Property and equipment are stated at cost, net of accumulated depreciation which is recorded commencing at the in-service date using the straight-line method at rates sufficient to charge the cost of depreciable assets to operations over their estimated useful lives, which range from 3 to 7 years (see Note 4 – Property and Equipment for additional details). Leasehold improvements are amortized over the shorter of (a) the useful life of the asset; or (b) the remaining lease term. Maintenance and repairs are charged to operations as incurred. The Company capitalizes cost attributable to the betterment of property and equipment when such betterment extends the useful life of the assets. The Company reviews for the impairment of long-lived assets annually and whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. An impairment loss would be recognized when undiscounted future cash flows expected to result from the use of the asset and its eventual disposition are less than its carrying value.
Intangibles	Intangibles Intangible assets are stated at fair value as of the date acquired, less accumulated amortization. Amortization is calculated based on the estimated useful lives of the assets, which were determined to be 20 years, using the straight-line method or another method that more fairly represents the utilization of the assets. The Company periodically evaluates the remaining useful lives of our intangible assets to determine whether events or circumstances warrant a revision to the remaining periods of amortization. In the event that the estimate of an intangible asset’s remaining useful life has changed, the remaining carrying amount of the intangible asset is amortized prospectively over that revised remaining useful life. If it is determined that an intangible asset has an indefinite useful life, that intangible asset would be subject to impairment testing annually or whenever events or circumstances indicate that its carrying value may not, based on future undiscounted cash flows or market factors, be recoverable. An impairment loss, the recorded amount of which would be based on the fair value of the intangible asset at the measurement date, would be recorded in the period in which the impairment determination was made.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company measures the fair value of financial assets and liabilities based on the guidance of Accounting Standards Codification (“ASC”) 820 “Fair Value Measurements and Disclosures” (“ASC 820”) which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value: Level 1 — quoted prices in active markets for identical assets or liabilities Level 2 — quoted prices for similar assets and liabilities in active markets or inputs that are observable Level 3 — inputs that are unobservable (for example, cash flow modeling inputs based on assumptions) The carrying amounts of the Company’s financial instruments, such as cash, accounts receivable, accrued expenses and other current liabilities, notes payable and loans payable approximate fair values due to the short-term nature of these instruments.
Preferred Stock	Preferred Stock The Company applies the accounting standards for distinguishing liabilities from equity when determining the classification and measurement of its preferred stock. The Company’s preferred shares are classified as stockholders’ equity because they are not subject to mandatory redemption, which would result in liability classified instruments measured at fair value, and because they are not conditionally redeemable preferred shares (including preferred shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) which would result in temporary equity classified instruments.
Convertible Instruments	Convertible Instruments The Company evaluates its convertible instruments to determine if those contracts or embedded components of those contracts qualify as derivative financial instruments to be separately accounted for in accordance with Topic 815 of the FASB ASC. The accounting treatment of derivative financial instruments requires that the Company record embedded conversion options and any related freestanding instruments at their fair values as of the inception date of the agreement and at fair value as of each subsequent balance sheet date. Any change in fair value is recorded as non-operating, non-cash income or expense for each reporting period at each balance sheet date. The Company reassesses the classification of its derivative instruments at each balance sheet date. If the classification changes as a result of events during the period, the contract is reclassified as of the date of the event that caused the reclassification. Embedded conversion options and any related freestanding instruments are recorded as a discount to the host instrument. If the instrument is determined not to be a derivative liability, the Company then evaluates for the existence of a beneficial conversion feature by comparing the market price of the Company’s common stock as of the commitment date to the effective conversion price of the instrument.
Accrued Issuable Equity	Accrued Issuable Equity The Company records accrued issuable equity when it is contractually obligated to issue shares and there has been a delay in the issuance of such shares. Accrued issuable equity is recorded and carried at fair value with changes in its fair value recognized in the Company’s consolidated statements of operations. Once the underlying shares of common stock are issued, the accrued issuable equity is reclassified as of the share issuance date at the then current fair market value of the common stock.
Offering Costs	Offering Costs Offering costs, which primarily consist of direct, incremental professional fees incurred in connection with a debt or equity financing, are capitalized as deferred offering costs (a non-current asset) on the balance sheet. Once the financing closes, the Company reclassifies such costs as either discounts to notes payable or as a reduction of proceeds received from equity transactions so that such costs are recorded as a reduction of additional paid-in capital. If the completion of a contemplated financing was deemed to be no longer probable, the related deferred offering costs would be charged to general and administrative expense in the consolidated financial statements.
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 that core principle: ● 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 the customer obtains control of the goods and the Company satisfies its performance obligation, which is generally at the time it ships the product to the customer. ● 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 in its consolidated statements of operations: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Years Ended ​ ​ December 31, ​ 2021 2020 Product sales ​ $ 1,495,328 ​ $ 404,467 Contract services ​ 917,540 ​ 219,498 Total revenue ​ $ 2,412,868 ​ $ 623,965 ​ As of December 31, 2021 and 2020, the Company had $132,303 and $20,000 of deferred revenue, respectively, As of December 31, 2021 and 2020, the Company had $84,324 and $31,212, respectively, of deferred labor costs, which is included in prepaid expenses and other current assets in the Company’s 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 consolidated statements of operations. As of December 31, 2021, the Company reclassed $18,887 of shipping and handling costs from selling, general and administrative expense to cost of revenue for the year ended December 31, 2020.
Research and Development	Research and Development Research and development include expenses incurred in connection with the research and development of our CFV thermal management solution, high-areal-capacity battery electrodes, 3D engineering for a rechargeable battery and non-cash stock-based compensation expenses. Research and development expenses are charged to operations as incurred.
Advertising Costs	Advertising Costs Advertising costs are expensed in the period incurred. Advertising costs charged to operations for the years ended December 31, 2021 and 2020 were $145,025 and $123,846, respectively, and are included in selling, general and administrative in the consolidated statements of operations.
Stock-Based Compensation	Stock-Based Compensation The Company measures the cost of services received in exchange for an award of equity instruments based on the fair value of the award since the fair value of the award is more readily determinable than the value of the services. The fair value of the award is measured on the grant date. The fair value amount is then recognized over the period during which services are required to be provided in exchange for the award, usually the vesting period. Upon the exercise of an award, the Company issues new shares of common stock out of its authorized shares. During the period from January 1, 2020 through June 17, 2020, it was determined that the Company’s common stock had a fair value of $0.66 per share, which was based on a number of factors, such as the examination of the sales of common stock for cash and the convertible preferred stock for cash etc. For the period from June 18, 2020 through December 31, 2021, the Company estimated the fair value of the awards granted in this period based on the market value of its freely tradable common stock as reported on the OTCQB market. The Company determined the freely tradable common stock price became a reliable and accurate representation of its fair market value during this period as a result of increased share volume and dollar trading volume.
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 vested common shares outstanding during the period. 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. The following shares were excluded from the calculation of weighted average dilutive common shares because their inclusion would have been anti-dilutive: ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2021 2020 Series B Convertible Preferred Stock — 698,600 Unvested restricted stock ​ 2,590,000 ​ — Unvested market -based equity awards ​ 3,000,000 ​ — Options ​ 405,216 ​ 370,000 Warrants ​ 2,594,553 ​ 6,787,911 Total 8,589,769 7,856,511 ​
Operating Leases	Operating Leases The Company leases properties under operating leases. For leases in effect upon adoption of Accounting Standards Update (“ASU”) 2016-02, “Leases (Topic 842)” at January 1, 2020 and for any leases commencing thereafter, the Company recognizes a liability to make lease payments, the “lease liability”, and an asset representing the right to use the underlying asset during the lease term, the “right-of-use asset”. The lease liability is measured at the present value of the remaining lease payments, discounted at the Company's incremental borrowing rate. The right-of-use asset is measured at the amount of the lease liability adjusted for the remaining balance of any lease incentives received, any cumulative prepaid or accrued rent if the lease payments are uneven throughout the lease term, any unamortized initial direct costs, and any impairment of the right-of-use-asset. Operating lease expense consists of a single lease cost calculated so that the remaining cost of the lease is allocated over the remaining lease term on a straight-line basis, variable lease payments not included in the lease liability, and any impairment of the right-of-use asset.
Income Taxes	Income Taxes The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of items that have been included or excluded in the financial statements or tax returns. Deferred tax assets and liabilities are determined on the basis of the difference between the tax basis of assets and liabilities and their respective financial reporting amounts (“temporary differences”) at enacted tax rates in effect for the years in which the temporary differences are expected to reverse. The Company utilizes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Management has evaluated and concluded that there were no material uncertain tax positions requiring recognition in the Company’s financial statements as of December 31, 2021 and 2020. The Company does not expect any significant changes in its unrecognized tax benefits within twelve months of the reporting date. The Company’s policy is to classify assessments, if any, for tax related interest as interest expense and penalties as selling, general and administrative expenses in the consolidated statements of operations.
Reclassifications	Reclassifications Certain prior period balances have been reclassified in order to conform to the current period presentation. These reclassifications have no effect on previously reported results of operations or loss per share.
Subsequent Events	Subsequent Events The Company has evaluated subsequent events through the date which the consolidated financial statements were 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 consolidated financial statements, except as disclosed.
Recently Adopted Accounting Pronouncements	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. ASU 2020-06 simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts in an entity’s own equity. ASU 2020-06 requires entities to provide expanded disclosures about the terms and features of convertible instruments and amends certain guidance in ASC 260, Earnings per Share, relating to the computation of earnings per share for convertible instruments and contracts in an entity’s own equity. The guidance becomes effective for the Company on January 1, 2024, with early adoption permitted. The Company is currently evaluating the impact of this new standard on its consolidated financial statements. In October 2020, the FASB issued ASU 2020-10 “Codification Improvements”, which improves consistency by amending the Codification to include all disclosure guidance in the appropriate disclosure sections and clarifies application of various provisions in the Codification by amending and adding new headings, cross referencing to other guidance, and refining or correcting terminology. The guidance is effective for the Company beginning in the first quarter of fiscal year 2022 with early adoption permitted. The Company does not expect the adoption of this standard to have a material impact on its consolidated financial statements. 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. 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 consolidated financial statements and related disclosures.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Schedule of concentrations of credit risk	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenues ​ Account Receivables ​ ​ For the Years Ended ​ ​ ​ ​ ​ ​ December 31, ​ As of December 31, ​ 2021 ​ 2020 2021 2020 Customer A 29 % * ​ * ​ * ​ Customer B * ​ * ​ * ​ 70 % Customer C * ​ * ​ 34 % * ​ Customer D * ​ * ​ * ​ 19 % Customer E 25 % 18 % * ​ * ​ Customer F ​ * ​ * ​ * ​ 10 % Customer G ​ 30 % * ​ 42 % * ​ Customer H ​ * ​ * ​ 21 % * ​ Customer I ​ * ​ 32 % * ​ * ​ Total 84 % 50 % 97 % 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 years ended December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Years Ended ​ ​ December 31, ​ ​ 2021 ​ 2020 Vendor A * 10 % Vendor B 14 % * ​ Total 14 % 10 % ​ * Less than 10%
Schedule of revenue recognized	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Years Ended ​ ​ December 31, ​ 2021 2020 Product sales ​ $ 1,495,328 ​ $ 404,467 Contract services ​ 917,540 ​ 219,498 Total revenue ​ $ 2,412,868 ​ $ 623,965
Schedule of weighted average dilutive common shares because their inclusion would have been anti-dilutive	​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2021 2020 Series B Convertible Preferred Stock — 698,600 Unvested restricted stock ​ 2,590,000 ​ — Unvested market -based equity awards ​ 3,000,000 ​ — Options ​ 405,216 ​ 370,000 Warrants ​ 2,594,553 ​ 6,787,911 Total 8,589,769 7,856,511

PREPAID EXPENSES AND OTHER CU_2

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)	12 Months Ended
	Dec. 31, 2021
PREPAID EXPENSES AND OTHER CURRENT ASSETS
Schedule of prepaid expenses and other current assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ 2021 2020 Inventory deposits ​ $ 309,688 ​ $ — Deferred labor costs ​ ​ 84,324 ​ ​ 31,212 Insurance ​ ​ 69,925 ​ ​ 10,429 Professional fees ​ 65,118 ​ 9,354 Other ​ 31,074 ​ 41,370 Marketing ​ ​ 10,231 ​ ​ 58,103 Total prepaid expenses ​ $ 570,360 ​ $ 150,468

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2021
PROPERTY AND EQUIPMENT
Schedule of property, plant and equipment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ ​ 2021 2020 Estimated Useful Life Computer equipment ​ $ 47,503 ​ $ 11,525 ​ 3 years Leasehold improvements ​ 339,422 ​ 8,834 ​ Lesser of the useful life of the asset or remaining term of the lease Software ​ 18,714 ​ 5,656 ​ 3 years Machinery & equipment ​ 72,392 ​ 72,392 ​ 5 -7 years Research and development equipment ​ 12,810 ​ 12,810 ​ 3 years Furniture and fixtures ​ 6,968 ​ 3,307 ​ 5 years ​ ​ 497,809 ​ 114,524 ​ ​ Less: accumulated deprecation ​ (123,334) ​ (56,667) ​ ​ Property and equipment, net ​ $ 374,475 ​ $ 57,857 ​ ​ ​

ACCRUED EXPENSES AND OTHER CU_2

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2021
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
Schedule of accrued expenses and other current liabilities	As of December 31, 2021 and 2020, accrued expenses and other current liabilities consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ 2021 2020 Legal and professional fees ​ $ 418,154 ​ $ 81,902 Payroll and vacation ​ ​ 302,101 ​ ​ 279,054 Research and development ​ 146,158 ​ — Accrued cost of sales ​ 128,500 ​ — Board compensation ​ 45,680 ​ — Marketing and advertising fees ​ ​ 37,810 ​ ​ — Other ​ 84,824 ​ 36,684 Total accrued expenses and other current liabilities ​ $ 1,163,227 ​ $ 397,640 ​

ACCRUED ISSUABLE EQUITY (Tables

ACCRUED ISSUABLE EQUITY (Tables)	12 Months Ended
	Dec. 31, 2021
ACCRUED ISSUABLE EQUITY.
Schedule of accrued issuable equity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ 2021 2020 Beginning Balance $ 128,380 ​ $ — Additions ​ 245,720 ​ 205,297 Reclassifications to equity upon issuance ​ (209,200) ​ (79,511) Mark-to market ​ 125,821 ​ 2,594 Ending Balance ​ $ 290,721 ​ $ 128,380

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2021
LEASES
Schedule of maturities of lease liabilities	Maturities of lease liabilities as of December 31, 2021 were as follows: ​ ​ ​ ​ ​ Maturity Year Amount 2022 ​ $ 289,981 2023 ​ 297,917 2024 ​ 125,530 Total lease payments ​ 713,428 Less: Imputed interest ​ (43,151) Present value of lease liabilities ​ 670,277 Less: current portion ​ (262,379) Lease liabilities, non-current portion ​ $ 407,898
Schedule of supplemental cash flow information related to the lease	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Years Ended ​ ​ December 31, ​ ​ 2021 ​ 2020 Cash paid for amounts included in the measurement of lease liabilities ​ ​ Operating cash flows from operating lease ​ $ 166,509 ​ $ — Right-of-use asset obtained in exchange for lease obligations ​ ​ Operating lease ​ $ 814,817 ​ $ —

NOTES PAYABLE (Tables)

NOTES PAYABLE (Tables)	12 Months Ended
	Dec. 31, 2021
NOTES PAYABLE.
Schedule of notes payable activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Notes Debt ​ ​ Payable ​ Discount ​ Total Balance, January 1, 2020 ​ $ — ​ $ — ​ $ — Issuances ​ 4,000,000 ​ (630,000) ​ 3,370,000 Repayments in cash ​ (759,000) ​ — ​ (759,000) Repayments from proceeds of SEDA ​ (791,000) ​ — ​ (791,000) Amortization of debt discount ​ — ​ 501,802 ​ 501,802 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, December 31, 2021 ​ $ — ​ $ — ​ $ —

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2021
INCOME TAXES
Schedule of Components of Income Tax Expense (Benefit)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Years Ended ​ ​ December 31, ​ 2021 2020 Federal: ​ ​ Current ​ $ — ​ $ — Deferred ​ (2,359,473) ​ (474,692) ​ ​ ​ State and local: ​ ​ Current ​ — ​ — Deferred ​ (996,095) ​ (164,651) ​ ​ (3,355,568) ​ (639,343) Change in valuation allowance ​ 3,355,568 ​ 639,343 Income tax provision ​ $ — ​ $ — ​
Schedule of Effective Income Tax Rate Reconciliation	​ ​ ​ ​ ​ ​ ​ ​ ​ For the Years Ended ​ ​ December 31, ​ 2021 2020 ​ ​ ​ ​ ​ ​ Tax benefit at federal statutory rate (21.0) % (21.0) % State income taxes, net of federal benefit (6.0) % (6.0) % Permanent differences (1.0) % 0.5 % Incremental research and development tax credits 0.0 % 0.0 % Other and prior year true-ups 0.0 % 4.1 % Change in valuation allowance 28.0 % 22.4 % Effective income tax rate 0.0 % 0.0 % ​
Schedule of Deferred Tax Assets and Liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Years Ended ​ ​ December 31, ​ 2021 2020 Deferred Tax Assets: ​ ​ Net operating loss carryforwards ​ $ 4,978,331 ​ $ 2,799,135 Research and development credit carryforwards ​ 270,188 ​ 51,199 Stock-based compensation ​ 981,067 ​ 11,062 Accruals ​ 55,460 ​ 68,082 Gross deferred tax assets ​ 6,285,046 ​ 2,929,478 Valuation allowance ​ (6,285,046) ​ (2,929,478) ​ ​ ​ ​ Deferred tax asset, net of valuation allowance ​ $ — ​ $ — ​ ​ ​ ​ Changes in valuation allowance ​ $ 3,355,568 ​ $ 639,343 ​

STOCKHOLDERS' EQUITY (DEFICIE_2

STOCKHOLDERS' EQUITY (DEFICIENCY) (Tables)	12 Months Ended
	Dec. 31, 2021
Schedule of warrants activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 (6,793,358) ​ (1.73) ​ Expired — ​ — ​ Forfeited — ​ — ​ Outstanding, December 31, 2021 2,594,553 ​ $ 1.25 4.0 $ 3,917,775 Exercisable, December 31, 2021 2,594,553 ​ $ 1.25 4.0 $ 3,917,775
Schedule of outstanding and exercisable warrants	A summary of outstanding and exercisable warrants as of December 31, 2021 is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 4.0 2,594,553 $ 1.50 — — — $ 2.50 ​ — ​ — ​ — ​ ​ ​ 2,594,553 ​ 4.0 ​ 2,594,553 ​
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 (184,784) ​ 0.66 ​ Expired — ​ — ​ Forfeited — ​ — ​ Outstanding, December 31, 2021 405,216 ​ $ 2.29 4.5 ​ $ 104,009 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exercisable, December 31, 2021 180,147 ​ $ 0.80 2.4 ​ $ 352,370 ​ The following table presents information related to stock options (excluding market-based option awards) as of December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ Options Outstanding ​ Options Exercisable ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ Outstanding ​ Average ​ Exercisable Exercise ​ Number of ​ Remaining Life ​ Number of Price Options In Years Options $ 0.66 972 2.2 162,500 $ 1.99 10,000 ​ 4.4 ​ 2,708 $ 2.03 ​ 20,000 ​ 4.4 ​ 5,000 $ 2.05 ​ 10,000 ​ — ​ — $ 2.08 ​ 10,000 ​ 4.4 ​ 2,708 $ 2.13 ​ 20,000 ​ — ​ — $ 2.27 ​ 29,730 ​ 4.5 ​ 7,230 $ 2.43 ​ 20,000 ​ — ​ — $ 2.44 ​ 100,000 ​ — ​ — ​ ​ ​ 220,702 ​ 2.4 ​ 180,146
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 2,677,744 ​ 2.56 Vested (42,500) ​ 2.25 Canceled (117,744) ​ 2.94 Non-vested shares, December 31, 2021 2,590,000 ​ $ 2.52
Schedule of Information relating to stock based compensation	The following table presents information related to stock-based compensation for the years ended December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Years Ended ​ ​ December 31, ​ 2021 2020 Common stock for services ​ $ 167,710 ​ $ 178,642 Amortization of restricted common stock ​ ​ 1,606,578 ​ ​ — Amortization of market-based awards ​ ​ 2,111,845 ​ ​ — Stock options ​ 68,239 ​ 39,426 Accrued issuable equity (common stock) ​ ​ 245,719 ​ ​ 125,786 Total ​ $ 4,200,091 ​ $ 343,854
Stock options.
Schedule of stock options granted	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Years Ended ​ ​ ​ December 31, ​ ​ 2021 2020 ​ Risk free interest rate ​ 0.20% - 0.85 % ​ 1.58 % Expected term (years) ​ 2.5 - 3.5 ​ 2.50 Expected volatility ​ 93% - 109 % ​ 93.00 % Expected dividends ​ 0 % ​ 0 %
Amortization of 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 term ​ 2.1 years ​ 2.2 years ​ Fair value of common stock on date of grant ​ $ 2.61 ​ $ 2.62 ​
Summary of restricted common stock	​ ​ ​ ​ ​ ​ ​ ​ Number of Grant Date Award ​ Shares ​ Fair Value Restricted Stock Units 1,500,000 ​ $ 2,911,420 Stock Options 1,500,000 ​ 2,579,000 ​ 3,000,000 ​ $ 5,490,420

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Customer concentrations (Details) - Customer Concentration Risk	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Revenues | Customer
Concentration Risk, Percentage	84.00%	50.00%
Accounts Receivable | Customer
Concentration Risk, Percentage	97.00%	99.00%
Accounts Payable
Concentration Risk, Percentage	14.00%	10.00%
Accounts Payable | Vendor A
Concentration Risk, Percentage		10.00%
Accounts Payable | Vendor B
Concentration Risk, Percentage	14.00%
Customer A | Revenues
Concentration Risk, Percentage	29.00%
Customer B | Accounts Receivable
Concentration Risk, Percentage		70.00%
Customer C | Accounts Receivable
Concentration Risk, Percentage	34.00%
Customer D | Accounts Receivable
Concentration Risk, Percentage		19.00%
Customer E | Revenues
Concentration Risk, Percentage	25.00%	18.00%
Customer F | Accounts Receivable
Concentration Risk, Percentage		10.00%
Customer G | Revenues
Concentration Risk, Percentage	30.00%
Customer G | Accounts Receivable
Concentration Risk, Percentage	42.00%
Customer H | Accounts Receivable
Concentration Risk, Percentage	21.00%
Customer I | Revenues
Concentration Risk, Percentage		32.00%

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - consolidated statements of operations: (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 2,412,868	$ 623,965
Product sales
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	1,495,328	404,467
Contract services
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 917,540	$ 219,498

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - weighted average dilutive common shares (Details) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	8,589,769	7,856,511
Series B Convertible Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		698,600
Unvested Restricted Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,590,000	0
Market-based equity award
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	3,000,000	0
Stock options.
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	405,216	370,000
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,594,553	6,787,911

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details) - USD ($)		1 Months Ended	12 Months Ended
		Dec. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2020
Gross proceeds			$ 6,500,000
Amount raised on convertible preferred financing agreement			11,841,070
Repayments of note payable			2,450,000	$ 759,000
Payments of financing costs			365,000	15,000
Cash		$ 14,863,301	14,863,301	8,880,140
Working capital		13,302,935	13,302,935
Cash, FDIC Insured Amount		250,000	250,000	250,000
Uninsured cash		14,363,301	14,363,301	8,513,010
Deferred revenue		132,303	132,303	20,000
Cost of Goods and Services Sold			1,102,038	187,903
Revenue Recognized			0	15,000
Deferred labor costs		$ 84,324	$ 84,324	31,212
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life		20 years	20 years
Proceeds from sale of common stock issued pursuant to the SEDA agreement	[1]			1,501,696
Advertising Expense			$ 145,025	$ 123,846
Aggregate gross proceeds			11,841,070
Share Price					$ 0.66
Shipping and Handling | Selling, general and administrative expenses
Cost of Goods and Services Sold			$ 18,887
Minimum
Property, Plant and Equipment, Useful Life			3 years
Maximum
Property, Plant and Equipment, Useful Life			7 years
[1]	Includes gross proceeds of $2,292,696 less $791,000 withheld by the investor to pay down a portion of the notes payable held by the same investor.

PREPAID EXPENSES AND OTHER CU_3

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
PREPAID EXPENSES AND OTHER CURRENT ASSETS
Inventory Deposits	$ 309,688
Deferred labor costs	84,324	$ 31,212
Insurance	69,925	10,429
Professional fees	65,118	9,354
Other	31,074	41,370
Marketing	10,231	58,103
Total prepaid expenses	$ 570,360	$ 150,468

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 497,809	$ 114,524
Less: accumulated deprecation	(123,334)	(56,667)
Property and equipment; net	374,475	57,857
Computer Equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 47,503	11,525
Property, Plant and Equipment, Estimated Useful life	P3Y
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 339,422	8,834
Software
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 18,714	5,656
Property, Plant and Equipment, Estimated Useful life	P3Y
Machinery and Equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 72,392	72,392
Machinery and Equipment | Minimum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Estimated Useful life	P5Y
Machinery and Equipment | Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Estimated Useful life	7 years
Research And Development Equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 12,810	12,810
Property, Plant and Equipment, Estimated Useful life	P3Y
Furniture and Fixtures
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 6,968	$ 3,307
Property, Plant and Equipment, Estimated Useful life	P5Y

PROPERTY AND EQUIPMENT - Additi

PROPERTY AND EQUIPMENT - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
PROPERTY AND EQUIPMENT
Depreciation	$ 66,667	$ 15,746

INTANGIBLE ASSETS (Details)

INTANGIBLE ASSETS (Details) - USD ($)	1 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2021
INTANGIBLE ASSETS
Acquired a patent for consideration	$ 218,000
Useful life of intangible assets	20 years	20 years
Impairment of intangible assets		$ 0
Amortization of intangible assets		$ 1,048

VENDOR DEPOSITS (Details)

VENDOR DEPOSITS (Details)	Dec. 31, 2021USD ($)
VENDOR DEPOSITS
Vendor deposits	$ 2,153,950

ACCRUED EXPENSES AND OTHER CU_3

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Legal and professional fees		$ 418,154	$ 81,902
Payroll and vacation		302,101	279,054
Research and development		146,158
Accrued Cost of Sales		128,500
Board compensation		45,680
Marketing and advertising fees		37,810
Other		84,824	36,684
Total accrued expenses and other current liabilities		1,163,227	397,640
Accrued expenses and other current liabilities		0	$ 2,628
Accounts payable related party liabilities		$ 2,628
Energy Science Laboratories, Inc
Debt forgiven	$ 2,628
Decrease in accrued expenses and other current liabilities	$ 2,628

ACCRUED ISSUABLE EQUITY (Detail

ACCRUED ISSUABLE EQUITY (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Movements In Accrued Issuable Equity For Services, Current [Roll Forward]
Beginning balance	$ 128,380
Additions	245,720	$ 205,297
Reclassifications to equity upon issuance	(209,200)	(79,511)
Mark-to market	125,821	2,594
Ending balance	$ 290,721	$ 128,380

ACCRUED ISSUABLE EQUITY - Addit

ACCRUED ISSUABLE EQUITY - Additional information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
ACCRUED ISSUABLE EQUITY.
Value of services	$ 245,720	$ 205,297
Shares issued in exchange for certain services, number	100,000	100,000
Shares issued in exchange for services, aggregate fair value	$ 209,200	$ 79,511
Fair value of unissued equity	290,721	128,380
Gains (losses) related to the change in fair value	$ 125,821	$ 2,594

LEASES - Maturity (Details)

LEASES - Maturity (Details)	Dec. 31, 2021USD ($)
LEASES
2022	$ 289,981
2023	297,917
2024	125,530
Total lease payments	713,428
Less: Imputed interest	(43,151)
Present value of lease liabilities	670,277
Less: current portion	(262,379)
Lease liability, non-current portion	$ 407,898

LEASES - Supplemental Cash Flow

LEASES - Supplemental Cash Flow Information Related to Lease (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2021
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating lease	$ 5,127	$ 166,509
Right-of-use asset obtained in exchange for lease obligations
Operating lease		$ 814,817

LEASES - Additional Information

LEASES - Additional Information (Details) - USD ($)	Jun. 30, 2021	Jun. 01, 2021	Dec. 31, 2021	Dec. 31, 2020
Lessee, Lease, Description [Line Items]
Monthly rental payments	$ 5,127		$ 166,509
Right of use asset for lease liability			$ 814,817
Estimated incremental borrowing rate			5.00%
Operating lease expense			$ 223,548	$ 63,751
New lease agreement for office space in San Diego, California
Lessee, Lease, Description [Line Items]
Lease term (in years)		3 years
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

NOTES PAYABLE (Details)

NOTES PAYABLE (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Movements In Notes Payable Current, Gross [Roll Forward]
Beginning balance	$ 2,450,000	$ 0
Issuances		4,000,000
Repayments in cash	(2,450,000)	(759,000)
Repayments from proceeds of SEDA		(791,000)
Ending balance	0	2,450,000
Movements In Debt Instrument, Unamortized Discount, Current [Roll Forward]
Beginning balance	(128,198)	0
Issuances		(630,000)
Amortization of debt discount	128,198	501,802
Ending balance	0	(128,198)
Movements In Notes Payable Current [Roll Forward]
Beginning balance	2,321,802	0
Issuances		3,370,000
Repayments in cash	(2,450,000)	(759,000)
Repayments from proceeds of SEDA		(791,000)
Amortization of debt discount	128,198	501,802
Ending balance	$ 0	$ 2,321,802

NOTES PAYABLE - Additional info

NOTES PAYABLE - Additional information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Proceeds from notes payable		$ 3,710,000
Original issuance discount on note payable		290,000
Debt redemption costs	$ (140,000)
Amortization of debt discount	128,198	501,802
Note Purchase Agreement
Debt Instrument [Line Items]
Aggregate principal amount		4,000,000
Note payable
Debt Instrument [Line Items]
Proceeds from notes payable		3,710,000
Advisory fees paid to financial advisor	340,000
Original issuance discount on note payable	290,000
Repayments of note payable	2,450,000	1,550,000
Outstanding aggregate principal balance	0
Amortization of debt discount	$ 128,198	$ 501,802

LOAN PAYABLE (Details)

LOAN PAYABLE (Details) - Payment Protection Loans - USD ($)	Apr. 27, 2021	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Cash proceeds from unsecured loan	$ 155,226
Interest rate (as a percentage)	1.00%
Loan maturity term	2 years
Extended maturity term	5 years
Interest expense of loan		$ 1,701	$ 923
Accrued interest related to the loan		$ 2,624

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Federal:
Current	$ 0	$ 0
Deferred	(2,359,473)	(474,692)
State and local:
Current	0	0
Deferred	(996,095)	(164,651)
Income Tax Expense Benefit, Federal, State And local, Net	(3,355,568)	(639,343)
Change in valuation allowance	3,355,568	639,343
Income tax provision	$ 0	$ 0

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of the statutory federal income tax rate (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
INCOME TAXES
Tax benefit at federal statutory rate	(21.00%)	(21.00%)
State income taxes, net of federal benefit	(6.00%)	(6.00%)
Permanent differences	(1.00%)	0.50%
Incremental research and development tax credits	0.00%	0.00%
Other and prior year true-ups	0.00%	4.10%
Change in valuation allowance	28.00%	22.40%
Effective income tax rate	0.00%	0.00%

INCOME TAXES - Tax effects (Det

INCOME TAXES - Tax effects (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Components of Deferred Tax Assets [Abstract]
Net operating loss carryforwards	$ 4,978,331	$ 2,799,135
Research and development credit carryforwards	270,188	51,199
Stock-based compensation	981,067	11,062
Accruals	55,460	68,082
Gross deferred tax assets	6,285,046	2,929,478
Valuation allowance	(6,285,046)	(2,929,478)
Deferred tax asset, net of valuation allowance	0	0
Changes in valuation allowance	$ 3,355,568	$ 639,343

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
INCOME TAXES
Operating Loss Carryforwards	$ 18,600,000	$ 10,000,000
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration	3,900,000
Deferred Tax Assets, Operating Loss Carryforwards, Not Subject to Expiration	14,700,000
Repayment of Notes Receivable from Related Parties	$ 18,100,000	$ 9,500,000
Operating Loss Carryforwards, Limitations on Use	The net operating loss carryovers may be subject to annual limitations under Internal Revenue Code Section 382, and similar state provisions, should there be a greater than 50% ownership change as determined under the applicable income tax regulations.
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	21.00%
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount	$ 50
Operating Loss Carry forwards Expiration Year	net operating losses will expire from 2033 to 2037
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	$ 3,355,568	$ 639,343

STOCKHOLDERS' EQUITY (DEFICIE_3

STOCKHOLDERS' EQUITY (DEFICIENCY) - Warrant activity (Details) - Warrants	12 Months Ended
	Dec. 31, 2021USD ($)$ / sharesshares
Number of Warrants
Number of Warrants, Outstanding, January 1, 2021 | shares	6,787,911
Number of Warrants, Issued | shares	2,600,000
Number of Warrants, Exercised | shares	(6,793,358)
Number of Warrants Outstanding, Outstanding, December 31, 2021 | shares	2,594,553
Number of Warrants Exercisable | shares	2,594,553
Weighted Average Exercise Price
Weighted Average Exercise Price, Outstanding January 1, 2021 | $ / shares	$ 1.25
Weighted Average Exercise Price, Issued | $ / shares	2.50
Weighted Average Exercise Price, Exercised | $ / shares	(1.73)
Weighted Average Exercise Price, Outstanding December 31, 2021 | $ / shares	1.25
Weighted Average Exercise Price Exercisable | $ / shares	$ 1.25
Weighted Average Remaining Term (Yrs)
Weighted Average Remaining Term, Outstanding	4 years
Weighted Average Remaining Term, Exercisable	4 years
Intrinsic Value
Intrinsic Value, Outstanding | $	$ 3,917,775
Intrinsic Value, Exercisable | $	$ 3,917,775

STOCKHOLDERS' EQUITY (DEFICIE_4

STOCKHOLDERS' EQUITY (DEFICIENCY) - Outstanding and exercisable warrants (Details) - Warrants - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Summary of outstanding and exercisable warrants
Outstanding Number of Warrants	2,594,553	6,787,911
Weighted Average Remaining Life In Years of Warrants Exercisable	4 years
Exercisable Number of Warrants	2,594,553
1.25 Exercise Price Member
Summary of outstanding and exercisable warrants
Exercise price of warrants	$ 1.25
Outstanding Number of Warrants	2,594,553
Weighted Average Remaining Life In Years of Warrants Exercisable	4 years
Exercisable Number of Warrants	2,594,553
1.50 Exercise Price Member
Summary of outstanding and exercisable warrants
Exercise price of warrants	$ 1.50
Weighted Average Remaining Life In Years of Warrants Exercisable	0 years
2.5 Exercise Price Member
Summary of outstanding and exercisable warrants
Exercise price of warrants	$ 2.50
Weighted Average Remaining Life In Years of Warrants Exercisable	0 years

STOCKHOLDERS' EQUITY (DEFICIE_5

STOCKHOLDERS' EQUITY (DEFICIENCY) - Option pricing model (Details) - $ / shares	Jun. 10, 2021	Mar. 01, 2021	Dec. 31, 2021	Dec. 31, 2020
Risk free interest rate				1.58%
Expected volatility				93.00%
Expected dividends			0.00%	0.00%
Expected term				2 years 6 months
Minimum
Risk free interest rate			0.20%
Expected volatility			93.00%
Expected term			2 years 6 months
Maximum
Risk free interest rate			0.85%
Expected volatility			109.00%
Expected term			3 years 6 months
Amortization of market-based awards
Risk free interest rate	0.73%	0.71%
Expected volatility	98.50%	98.90%
Expected dividends	0.00%	0.00%
Expected term	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

STOCKHOLDERS' EQUITY (DEFICIE_6

STOCKHOLDERS' EQUITY (DEFICIENCY) - Stock activity (Details)	12 Months Ended
	Dec. 31, 2021USD ($)$ / sharesshares
STOCKHOLDERS' EQUITY (DEFICIENCY)
Number of Options, Outstanding | shares	370,000
Number of Options, Granted | shares	220,000
Number of Options, Exercised | shares	184,784
Number of Options, Expired | shares	0
Number of Options, Forfeited | shares	0
Number of Options, Outstanding | shares	405,216
Number of Options, Exercisable | shares	180,147
Weighted Average Exercise Price, Outstanding | $ / shares	$ 0.66
Weighted Average Exercise Price, Granted | $ / shares	2.30
Weighted Average Exercise Price, Exercised | $ / shares	0.66
Weighted Average Exercise Price, Expired | $ / shares	0
Weighted Average Exercise Price, Forfeited | $ / shares	0
Weighted Average Exercise Price Outstanding | $ / shares	2.29
Weighted Average Exercise Price Exercisable | $ / shares	$ 0.80
Weighted Average Remaining Term, Outstanding	4 years 6 months
Weighted Average Remaining Term, Exercisable	2 years 4 months 24 days
Number of Options Intrinsic Value, Outstanding | $	$ 104,009
Number of Options Intrinsic Value, Exercisable | $	$ 352,370

STOCKHOLDERS' EQUITY (DEFICIE_7

STOCKHOLDERS' EQUITY (DEFICIENCY) - Stock options (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Options Outstanding, Exercise Price	$ 0.80
Options Outstanding, Number of Options	405,216	370,000
Options Exercisable, Weighted Average Remaining Life	2 years 4 months 24 days
Options Exercisable Number of Options	180,147
0.66 Exercise Price
Options Outstanding, Exercise Price	$ 0.66
Options Outstanding, Number of Options	972
Options Exercisable, Weighted Average Remaining Life	2 years 2 months 12 days
Options Exercisable Number of Options	162,500
1.99 Exercise Price
Options Outstanding, Exercise Price	$ 1.99
Options Outstanding, Number of Options	10,000
Options Exercisable, Weighted Average Remaining Life	4 years 4 months 24 days
Options Exercisable Number of Options	2,708
2.03 Exercise Price
Options Outstanding, Exercise Price	$ 2.03
Options Outstanding, Number of Options	20,000
Options Exercisable, Weighted Average Remaining Life	4 years 4 months 24 days
Options Exercisable Number of Options	5,000
2.05 exercise price
Options Outstanding, Exercise Price	$ 2.05
Options Outstanding, Number of Options	10,000
Options Exercisable, Weighted Average Remaining Life	0 years
2.08 Exercise Price
Options Outstanding, Exercise Price	$ 2.08
Options Outstanding, Number of Options	10,000
Options Exercisable, Weighted Average Remaining Life	4 years 4 months 24 days
Options Exercisable Number of Options	2,708
2.13 Exercise Price
Options Outstanding, Exercise Price	$ 2.13
Options Outstanding, Number of Options	20,000
Options Exercisable, Weighted Average Remaining Life	0 years
2.27 Exercise Price
Options Outstanding, Exercise Price	$ 2.27
Options Outstanding, Number of Options	29,730
Options Exercisable, Weighted Average Remaining Life	4 years 6 months
Options Exercisable Number of Options	7,230
2.43 Exercise Price
Options Outstanding, Exercise Price	$ 2.43
Options Outstanding, Number of Options	20,000
Options Exercisable, Weighted Average Remaining Life	0 years
2.44 Exercise Price
Options Outstanding, Exercise Price	$ 2.44
Options Outstanding, Number of Options	100,000
Options Exercisable, Weighted Average Remaining Life	0 years
0.266 Exercise Price
Options Outstanding, Number of Options	220,702
Options Exercisable, Weighted Average Remaining Life	2 years 4 months 24 days
Options Exercisable Number of Options	180,146

STOCKHOLDERS' EQUITY (DEFICIE_8

STOCKHOLDERS' EQUITY (DEFICIENCY) - Restricted Common Stock (Details)	12 Months Ended
	Dec. 31, 2021USD ($)$ / sharesshares
Weighted Average Grant Date Fair Value
Non-vested balance, January 1, 2021 (in dollars per share) | $ / shares	$ 1.24
Granted (in dollars per share) | $ / shares	2.56
Vested (in dollars per share) | $ / shares	2.25
Cancelled (in dollars per share) | $ / shares	2.94
Non-vested balance at the end (in dollars per share) | $ / shares	$ 2.52
Unrecognized stock-based compensation expense that will be recognized over the weighted average remaining vesting period	2 years 8 months 12 days
Restricted common stock
Shares of Restricted Common Stock
Non-vested balance, January 1, 2021 | shares	72,500
Granted | shares	2,677,744
Vested | shares	(42,500)
Canceled | shares	(117,744)
Non-vested shares, December 31, 2021 | shares	2,590,000
Weighted Average Grant Date Fair Value
Unrecognized stock-based compensation expense | $	$ 4,995,064
Unrecognized stock-based compensation expense that will be recognized over the weighted average remaining vesting period	3 years 1 month 6 days

STOCKHOLDERS' EQUITY (DEFICIE_9

STOCKHOLDERS' EQUITY (DEFICIENCY) - Market-Based Awards (Details)	12 Months Ended
	Dec. 31, 2021USD ($)shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares | shares	3,000,000
Grant Date Fair Value | $	$ 5,490,420
Stock options. | Amortization of market-based awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares | shares	1,500,000
Grant Date Fair Value | $	$ 2,579,000
Restricted common stock | Amortization of market-based awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares | shares	1,500,000
Grant Date Fair Value | $	$ 2,911,420

STOCKHOLDERS' EQUITY (DEFICI_10

STOCKHOLDERS' EQUITY (DEFICIENCY) - Stock-Based Compensation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Allocated Share-based Compensation Expense	$ 4,200,091	$ 343,854
Common Stock For Services
Allocated Share-based Compensation Expense	167,710	178,642
Common stock
Allocated Share-based Compensation Expense	1,606,578
Amortization of market-based awards
Allocated Share-based Compensation Expense	2,111,845
Stock options
Allocated Share-based Compensation Expense	245,719	125,786
Accrued Issuable Equity (Common Stock)
Allocated Share-based Compensation Expense	$ 68,239	$ 39,426

STOCKHOLDERS' EQUITY (DEFICI_11

STOCKHOLDERS' EQUITY (DEFICIENCY) - Additional Information (Details)	Jun. 10, 2021USD ($)$ / sharesshares	May 19, 2021USD ($)$ / sharesshares	Mar. 01, 2021USD ($)shares	Dec. 29, 2020USD ($)$ / sharesshares	Feb. 27, 2020USD ($)$ / sharesshares	Aug. 19, 2019USD ($)	Nov. 30, 2018shares	Dec. 31, 2021USD ($)$ / sharesshares	Dec. 31, 2020USD ($)$ / sharesshares	Jun. 17, 2021shares	Nov. 05, 2018shares	Aug. 15, 2018shares
Common stock, shares issued | shares								104,792,072	89,908,600
Structuring fee paid to investor								$ 10,000
Gross proceeds								6,500,000
Debt redemption costs								140,000
Remaining proceeds								$ 6,490,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares								$ 2.30
Relative fair value of Series D Preferred Stock								$ 3,875,675
Preferred Stock, Shares Authorized | shares								20,000,000	20,000,000
Preferred Stock, Par or Stated Value Per Share | $ / shares								$ 0.0001	$ 0.0001
Commitment shares issued in connection with sale of Series D Preferred Stock								$ 1,339,582
Expected dividends (as a percent)								0.00%	0.00%
Expected term (years)									2 years 6 months
Risk free interest rate									1.58%
Beneficial conversion feature on Series D convertible preferred stock								$ 2,624,326
Cash issuance costs								365,000
Expected volatility									93.00%
Aggregate gross proceeds								11,841,070
Repayments of remaining note payable								$ 2,450,000	$ 759,000
Common Stock, Par Value (in dollars per share) | $ / shares								$ 0.0001	$ 0.0001
Common stock authorized | shares								500,000,000	500,000,000
Allocated Share-based Compensation Expense								$ 4,200,091	$ 343,854
Stock-based compensation								4,200,091	$ 343,854
Aggregate proceeds								18,000
Share-based Compensation Arrangement by Share-based Payment Award, Option, Nonvested, Weighted Average Exercise Price | $ / shares									$ 0.36
Gross proceeds from issuance of preferred stock and warrants								$ 6,500,000
Unrecognized stock-based compensation expense that will be recognized over the weighted average remaining vesting period								2 years 8 months 12 days
Options Outstanding, Exercise Price | $ / shares								$ 0.80
Aggregate gross proceeds									$ 8,000,001
Public offering
Exercise price of warrants | $ / shares								$ 1.25
Common stock issued for cash, net of issuance costs (in shares) | shares				6,400,001
Warrants to purchase common shares issued | shares				6,400,001
Shares issued price (in dollars per share) | $ / shares				$ 1.25
Payments of Stock Issuance Costs								$ 170,152
Aggregate gross proceeds				$ 8,000,001
Co-placement agents, cash fee (as a percent)								7.00%
Accrued Offering Costs								$ 24,852
Exercise price
Warrant measurement input								2.50
Market price per share
Warrant measurement input								2.05
Expected term
Warrant measurement input | $ / shares								1
Volatility
Warrant measurement input								142
Risk-free interest rate
Warrant measurement input								0.05
Standby Equity Distribution Agreement
Common stock issued for cash, net of issuance costs (in shares) | shares									1,841,548
Common Stock, Par Value (in dollars per share) | $ / shares					$ 0.0001
Value of shares authorized to be issued under the SEDA agreement					$ 8,000,000
Lowest daily volume weighted average price of the Common Stock to be paid (as a percent)					80.00%
Threshold number of trading days for investor payments					5 days
Commitment period					24 months
Cash paid					$ 15,000
Number of shares issued as a commitment fee for the SEDA agreement | shares					95,847
Fair value of shares					$ 63,259
Deferred offering costs					$ 78,259
Common stock issued for the commitment fee pursuant to the SEDA agreement (in shares) | shares					95,847
Common stock issued for services									$ 2,214,437
Amount of proceeds directly applied to Notes									791,000
Amount available for issuance as shares									5,707,305
Legal and consulting services
Shares of common stock issued related to consulting services provided | shares								176,000
Grant date value of common stock issued related to consulting services provided								$ 394,909
2018 Group Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | shares								12,336,047			15,000,000	15,000,000
Research and development expenses
Allocated Share-based Compensation Expense								$ 28,850	30,932
Selling, general and administrative expenses
Allocated Share-based Compensation Expense								4,171,241	$ 312,922
Keith Cochran
Repayments of remaining note payable								$ 2,000,000
Maximum
Expected term (years)								3 years 6 months
Risk free interest rate								0.85%
Expected volatility								109.00%
Maximum | Standby Equity Distribution Agreement
Common Stock, Par Value | $ / shares									$ 1.65
Minimum
Expected term (years)								2 years 6 months
Risk free interest rate								0.20%
Expected volatility								93.00%
Minimum | Standby Equity Distribution Agreement
Common Stock, Par Value | $ / shares									$ 0.72
Stock options.
Unrecognized stock-based compensation expense								$ 152,948
Share based Compensation Arrangement By Share based Payment Award Options Non vested Weighted Average Aggregate Grant Date Fair Value								0.80
Amortization of market-based awards
Common stock authorized | shares	1,500,000
Grant date value of stock	$ 2,579,000		$ 2,911,420
Market Cap	$ 4,000,000,000
Unrecognized stock-based compensation expense								$ 3,378,576
Unrecognized stock-based compensation expense that will be recognized over the weighted average remaining vesting period								1 year 8 months 8 days
Options Outstanding, Exercise Price | $ / shares	$ 2.60
Number of shares vesting | shares								0
Amortization of market-based awards | $500 million market capitalization
Market capitalization								$ 500,000,000
Number of shares vesting | shares								250,000
Amortization of market-based awards | $1 billion market capitalization
Market capitalization								$ 1,000,000,000
Number of shares vesting | shares								250,000
Amortization of market-based awards | $1.5 billion market capitalization
Market capitalization								$ 1,500,000,000
Number of shares vesting | shares								250,000
Amortization of market-based awards | $2 billion market capitalization
Market capitalization								$ 2,000,000,000
Number of shares vesting | shares								250,000
Amortization of market-based awards | $3 billion market capitalization
Market capitalization								$ 3,000,000,000
Number of shares vesting | shares								250,000
Amortization of market-based awards | $4 billion market capitalization
Market capitalization								$ 4,000,000,000
Number of shares vesting | shares								250,000
Restricted common stock
Unrecognized stock-based compensation expense that will be recognized over the weighted average remaining vesting period								3 years 1 month 6 days
Chief Operating Officer | Amortization of market-based awards
Common stock authorized | shares			1,500,000
Market Cap			$ 4,000,000,000
Common stock
Number of shares issued as a commitment fee for the SEDA agreement | shares									95,847
Allocated Share-based Compensation Expense								$ 1,606,578
Restricted common stock issued (in shares) | shares								2,677,744
Common stock issued for the commitment fee pursuant to the SEDA agreement (in shares) | shares									95,847
Shares of common stock issued upon conversion | shares										3,170,730
Payments of Stock Issuance Costs								$ 730,152
Common stock | Standby Equity Distribution Agreement
Payments of Stock Issuance Costs								78,259
Common stock | Cash
Payments of Stock Issuance Costs								$ 705,300
Common stock | Legal and consulting services
Common stock, shares issued | shares								6,000
Common stock | Stock options.
Shares of common stock issued related to consulting services provided | shares								170,000
Warrants
Relative fair value of warrants								$ 1,274,743
Warrants | Restricted common stock | Stock options.
Allocated Share-based Compensation Expense								$ 4,200,091	$ 343,854
Series A Preferred Stock
Preferred Stock, Shares Authorized | shares								1,000,000	1,000,000
Preferred Stock, Shares Issued | shares								0	0
Number of shares outstanding | shares								0	0
Series D Convertible Preferred Stock
Debt redemption costs								$ 140,000
Remaining proceeds								$ 1,400,000
Preferred Stock, Shares Authorized | shares								650	650
Number of shares outstanding | shares								0
Series D Convertible Preferred Stock | Securities Purchase Agreement
Structuring fee paid to investor								$ 10,000
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
Cumulative dividends annual rate percentage		10.00%
Shares of common stock issued upon conversion | shares		3,170,730
Preferred Class A [Member]
Preferred Stock, Shares Issued | shares											1,000,000
Series B Convertible Preferred Stock
Preferred Stock, Shares Authorized | shares								31,000	31,000
Preferred Stock, Shares Issued | shares								0	13,972
Liquidation Preference, Value								$ 0	$ 13,972
Number of shares converted | shares								13,972	515
Shares of common stock issued upon conversion | shares							50
Number of shares outstanding | shares								0	13,972
Convertible Preferred Stock, Terms of Conversion							181 days
Series B Convertible Preferred Stock | Common stock
Shares of common stock issued upon conversion | shares								698,600
Stock Issued During Period, Shares, Conversion of Convertible Securities | shares								25,758
Series C Convertible Preferred Stock
Preferred Stock, Shares Authorized | shares								400	400
Exercise price of warrants | $ / shares									$ 1.25
Warrants to purchase common shares issued | shares									177,855
Cumulative dividends annual rate percentage						12.00%
Liquidation Preference, Value						$ 10,000
Number of shares converted | shares									18.90
Number of shares issued upon conversion | shares									177,885
Beneficial conversion feature recognized as a deemed dividend									$ 1,691
Number of shares outstanding | shares								0	0
Number of preferred stock elected to convert in to shares | shares									5.11
Series C Convertible Preferred Stock | Common stock
Stock Issued During Period, Shares, Conversion of Convertible Securities | shares									56,777

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details)

Jan. 01, 2023USD ($)

Jan. 01, 2022USD ($)shares

Dec. 16, 2021USD ($)

Oct. 01, 2021USD ($)shares

Aug. 18, 2021USD ($)installment

Jun. 10, 2021director

Apr. 05, 2021USD ($)installment

Apr. 01, 2021USD ($)

Mar. 03, 2021installment

Sep. 30, 2020shares

Mar. 21, 2018USD ($)

Dec. 31, 2021USD ($)installmentshares

Dec. 31, 2020USD ($)

Mar. 31, 2021USD ($)installment

Research and development

$ 1,662,183

$ 289,772

Operating Lease, Expense

223,548

63,751

Repayments of Notes Payable

2,450,000

759,000

Number of directors | director

3

Right of use assets

665,687

Lease liabilities

670,277

Royalty Expense

$ 2,558

$ 2,876

Number of installments | installment

3

Consulting Agreement, Term

2 years

Shares to be issued under Consulting Agreement | shares

60,000

Restricted common stock

Granted | shares

2,677,744

Keith Cochran

Repayments of Notes Payable

$ 2,000,000

Technology Development and Sponsorship Agreement

Prepaid expenses

$ 250,000

Expense recognized

250,000

Aggregate amount spend on agreement

$ 750,000

$ 900,000

Number of installments | installment

3

Installment payments

$ 250,000

$ 0

Fees committed to spend

750,000

$ 900,000

Sponsorship agreement

Aggregate amount spend on agreement

$ 1,350,000

Term of agreement

1 year

Fees committed to spend

$ 1,350,000

Research and Development Agreements

Expense recognized

217,641

Aggregate amount spend on agreement

$ 580,375

Number of installments | installment

8

Installment payments

$ 72,547

Term of agreement

2 years

Fees committed to spend

$ 580,375

Multi-year research and development agreement

Expense recognized

$ 123,375

Aggregate amount spend on agreement

$ 592,196

Number of installments | installment

8

Installment payments

$ 74,025

Fees committed to spend

$ 592,196

Consulting agreement

Aggregate amount spend on agreement

$ 60,000

Consulting Agreement, Term

3 months

Shares to be issued under Consulting Agreement | shares

30,000

Renewal term of consulting agreement

6 months

Additional shares to be issued under Consulting Agreement | shares

120,000

Additional amount spend on agreement

$ 100,000

Fees committed to spend

$ 60,000

License [Member]

Research and development

$ 12,000

Minimum

Royalty Rate

1.50%

Royalty Expense

$ 0

Maximum

Royalty Rate

3.75%

Royalty Expense

$ 7,500

Subsequent Event | Morio Kurosaki

Quarterly cash compensation payable to directors

$ 10,000

Subsequent Event | Morio Kurosaki | Restricted common stock

Number awards that will vest in each installment | shares

5,000

Subsequent Event | Joanna D. Massey

Quarterly cash compensation payable to directors

$ 10,000

Subsequent Event | Joanna D. Massey | Restricted common stock

Number awards that will vest in each installment | shares

5,000

Granted | shares

20,000

Subsequent Event | Keith Cochran

Monthly Compensation Payable To Consultant

$ 10,000

Subsequent Event | Keith Cochran | Restricted common stock

Number of awards granted per month | shares

10,000

Subsequent Event | Chief Operating Officer

Number of awards authorized | shares

1,500,000

Market Cap

$ 4,000,000,000

Subsequent Event | Technology Development and Sponsorship Agreement

Installment payments

$ 350,000

$ 300,000

Executive Vice President

Number Of Equal Annual Installments | installment

4

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($)	1 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Subsequent Event [Line Items]
Proceeds from Issuance of Warrants		$ 11,841,070
Subsequent Event
Subsequent Event [Line Items]
Common stock issued upon the exercise of warrants	70,143
Proceeds from Issuance of Warrants	$ 87,679