Cover
Cover - USD ($) | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2023 | Mar. 22, 2024 | Jun. 30, 2023 | |
Document Type | 10-K | |||
Amendment Flag | false | |||
Document Annual Report | true | |||
Document Transition Report | false | |||
Document Period End Date | Dec. 31, 2023 | |||
Document Fiscal Period Focus | FY | |||
Document Fiscal Year Focus | 2023 | |||
Current Fiscal Year End Date | --12-31 | |||
Entity File Number | 001-39669 | |||
Entity Registrant Name | Coeptis Therapeutics Holdings, Inc. | |||
Entity Central Index Key | 0001759186 | |||
Entity Tax Identification Number | 98-1465952 | |||
Entity Incorporation, State or Country Code | DE | |||
Entity Address, Address Line One | 105 Bradford Rd | |||
Entity Address, Address Line Two | Suite 420 | |||
Entity Address, City or Town | Wexford | |||
Entity Address, State or Province | PA | |||
Entity Address, Postal Zip Code | 15090 | |||
City Area Code | 724 | |||
Local Phone Number | 934-6467 | |||
Entity Well-known Seasoned Issuer | No | |||
Entity Voluntary Filers | No | |||
Entity Current Reporting Status | Yes | |||
Entity Interactive Data Current | Yes | |||
Entity Filer Category | Non-accelerated Filer | |||
Entity Small Business | true | |||
Entity Emerging Growth Company | true | |||
Elected Not To Use the Extended Transition Period | false | |||
Entity Shell Company | false | |||
Entity Public Float | $ 28,807,680 | |||
Entity Common Stock, Shares Outstanding | 36,089,917 | |||
ICFR Auditor Attestation Flag | false | |||
Document Financial Statement Error Correction [Flag] | false | |||
Rule 10b5-1 Arrangement Adopted [Flag] | false | |||
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false | |||
Rule 10b5-1 Arrangement Terminated [Flag] | false | |||
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false | |||
Auditor Firm ID | 76 | |||
Auditor Name | Turner, Stone & Company, LLP | |||
Auditor Location | Dallas, Texas | |||
Common Stock, par value $0.0001 per share [Member] | ||||
Title of 12(b) Security | Common Stock, par value $0.0001 per share | |||
Trading Symbol | COEP | |||
Security Exchange Name | NASDAQ | |||
Warrants, each whole warrant exercisable for one-half of one share of Common Stock for $11.50 per whole share [Member] | ||||
Title of 12(b) Security | Warrants, each whole warrant exercisable for one-half of one share of Common Stock for $11.50 per whole share | |||
Trading Symbol | COEPW | |||
Security Exchange Name | NASDAQ |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
CURRENT ASSETS | ||
Cash | $ 1,469,134 | $ 3,791,302 |
Accounts receivable | 0 | 8,075 |
Notes receivable | 3,500,000 | 0 |
Interest receivable | 38,978 | 0 |
Prepaid assets, current portion | 241,601 | 142,356 |
TOTAL CURRENT ASSETS | 5,249,713 | 3,941,733 |
PROPERTY AND EQUIPMENT | ||
Furniture and fixtures | 25,237 | 25,237 |
Less: accumulated depreciation | 13,931 | 12,695 |
Furniture and fixtures, net | 11,306 | 12,542 |
OTHER ASSETS | ||
Prepaid assets, net of current portion | 158,333 | 348,333 |
Co-development options | 2,554,166 | 3,554,167 |
Right of use asset, net of accumulated amortization | 97,571 | 58,914 |
Total other assets | 2,810,070 | 3,961,414 |
TOTAL ASSETS | 8,071,089 | 7,915,689 |
CURRENT LIABILITIES | ||
Accounts payable | 1,419,699 | 99,021 |
Accrued expenses | 555,950 | 181,998 |
Notes payable, current portion | 975,000 | 1,850,000 |
Right of use liability, current portion | 38,047 | 41,618 |
TOTAL CURRENT LIABILITIES | 2,988,696 | 2,172,637 |
LONG TERM LIABILITIES | ||
Note payable, net of current portion | 150,000 | 150,000 |
Derivative liability warrants | 557,250 | 1,125,000 |
Right of use liability, non-current portion | 61,179 | 14,723 |
TOTAL LONG TERM LIABILITIES | 768,429 | 1,289,723 |
TOTAL LIABILITIES | 3,757,125 | 3,462,360 |
COMMITMENTS AND CONTINGENCIES (NOTE 6) | ||
STOCKHOLDERS' EQUITY | ||
Common stock, $0.0001 par value, 150,000,000 shares authorized, 35,331,036 shares issued and outstanding at December 31, 2023, and 19,566,839 shares issued and outstanding at December 31, 2022 | 3,533 | 1,957 |
Additional paid-in capital | 91,666,691 | 70,541,095 |
Accumulated deficit | (87,356,260) | (66,089,723) |
TOTAL STOCKHOLDERS' EQUITY | 4,313,964 | 4,453,329 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 8,071,089 | $ 7,915,689 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Dec. 31, 2023 | Dec. 31, 2022 |
Statement of Financial Position [Abstract] | ||
Common stock, par value | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 150,000,000 | 150,000,000 |
Common stock, shares issued | 35,331,036 | 19,566,839 |
Common stock, shares outstanding | 35,331,036 | 19,566,839 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
SALES | ||
Total sales | $ 0 | $ 0 |
Cost of goods | 0 | 0 |
Gross profit | 0 | 0 |
COST OF OPERATIONS | ||
Research and development | 6,668,244 | 20,887 |
Professional services | 10,864,640 | 31,114,208 |
General and administrative expenses | 3,945,531 | 3,052,538 |
Selling and marketing | 12,710 | 8,331 |
Total cost of operations | 21,491,125 | 34,195,964 |
LOSS FROM OPERATIONS | (21,491,125) | (34,195,964) |
OTHER INCOME (EXPENSE) | ||
Royalties and licensing fees | (15,000) | (90,000) |
Other income (expense) | (220,477) | 98,701 |
Loss on extinguishment of debt and write down of assets | 0 | (3,393,542) |
Gain on change in fair value of derivative liability warrants | 567,750 | 0 |
Gain on write down of liabilities | 0 | 225,000 |
Interest expense | (107,685) | (218,412) |
TOTAL OTHER INCOME (EXPENSE), net | 224,588 | (3,378,253) |
LOSS BEFORE INCOME TAXES | (21,266,537) | (37,574,217) |
PROVISION FOR INCOME TAXES (BENEFIT) | 0 | 0 |
NET LOSS | (21,266,537) | (37,574,217) |
Consulting Services [Member] | ||
SALES | ||
Total sales | 0 | 0 |
Sales [Member] | ||
SALES | ||
Total sales | $ 0 | $ 0 |
CONSOLIDATED STATEMENTS OF OP_2
CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - $ / shares | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Income Statement [Abstract] | ||
Loss per share, basic | $ (0.83) | $ (2.63) |
Loss per share, fully diluted | $ (0.83) | $ (2.63) |
Weighted average number of common shares outstanding, basic | 25,689,989 | 14,295,678 |
Weighted average number of common shares outstanding, diluted | 25,689,989 | 14,295,678 |
CONSOLIDATED STATEMENTS OF STOC
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) | Preferred Stock Series B [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock, Common [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Dec. 31, 2021 | $ 1 | $ 1,196 | $ 30,146,728 | $ (247,165) | $ (27,550,126) | $ 2,350,634 |
Beginning balance, shares at Dec. 31, 2021 | 8,000 | 12,492,050 | ||||
Shares issued for cash | $ 41 | 3,271,445 | 3,271,486 | |||
Shares issued for cash, shares | 404,410 | |||||
Shares issued for services | $ 58 | 4,983,442 | 4,983,500 | |||
Shares issued for services, shares | 588,990 | |||||
Retirement of shares | (247,165) | 247,165 | ||||
Retirement of shares, shares | (110,762) | |||||
Warrants converted to shares | $ 125 | 5,247,524 | 5,247,649 | |||
Warrants converted to shares, shares | 1,250,658 | |||||
Warrants issued for services | 23,730,298 | 23,730,298 | ||||
Warrants issued for extinguishment of debt | 3,408,559 | 3,408,559 | ||||
Merger | $ (1) | $ 537 | 264 | (965,380) | (964,580) | |
Merger, shares | (8,000) | 4,941,493 | ||||
Net loss | (37,574,217) | (37,574,217) | ||||
Ending balance, value at Dec. 31, 2022 | $ 0 | $ 1,957 | 70,541,095 | 0 | (66,089,723) | 4,453,329 |
Ending balance, shares at Dec. 31, 2022 | 0 | 19,566,839 | ||||
Shares issued for cash | $ 50 | 499,950 | 500,000 | |||
Shares issued for cash, shares | 500,000 | |||||
Shares issued in exchange for note receivable | $ 250 | 2,499,750 | 2,500,000 | |||
Shares issued in exchange for note receivable, shares | 2,500,000 | |||||
Shares issued for services | $ 296 | 4,420,918 | 4,421,214 | |||
Shares issued for services, shares | 2,964,197 | |||||
Warrants issued for services | 2,613,183 | 2,613,183 | ||||
Warrants issued for cash | 200,000 | 200,000 | ||||
Warrants issued in exchange for note receivable | 1,000,000 | 1,000,000 | ||||
Stock based compensation | 477,503 | 477,503 | ||||
Issuance of common stock and warrants, net of issuance costs | $ 550 | 4,791,796 | 4,792,346 | |||
Issuance of common stock and warrants, net of issuance costs, shares | 5,500,000 | |||||
Shares issued for the conversion of debt | $ 30 | 302,896 | 302,926 | |||
Shares issued for the conversion of debt, shares | 300,000 | |||||
Shares issued in connection with asset purchase agreement | $ 400 | 4,319,600 | 4,320,000 | |||
Net loss | (21,266,537) | (21,266,537) | ||||
Shares issued in connection with asset purchase agreement,shares | 4,000,000 | |||||
Ending balance, value at Dec. 31, 2023 | $ 0 | $ 3,533 | $ 91,666,691 | $ 0 | $ (87,356,260) | $ 4,313,964 |
Ending balance, shares at Dec. 31, 2023 | 0 | 35,331,036 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
OPERATING ACTIVITIES | ||
Net loss | $ (21,266,537) | $ (37,574,217) |
Adjustments to reconcile net loss to net cash used in operating activities | ||
Depreciation and amortization | 1,001,237 | 1,001,384 |
Shares issued for non-employee services | 4,421,214 | 4,983,500 |
Stock based compensation | 477,503 | 0 |
Warrants issued for services | 2,613,183 | 23,730,298 |
Warrants issued for extinguishment of debt | 0 | 3,408,559 |
(Gain) loss on change in fair value of derivative liability warrants | (567,750) | 1,125,000 |
Shares issued in connection with asset purchase agreement | 4,320,000 | 0 |
(Increase) decrease in: | ||
Accounts receivable | 8,075 | (8,075) |
Interest receivable | (38,978) | 0 |
Right of use asset/liability | 4,228 | 628 |
Prepaid assets | 90,755 | (490,689) |
Increase (decrease) in: | ||
Accounts payable | 1,320,678 | (35,071) |
Accrued expenses | 376,878 | (17,128) |
NET CASH USED IN OPERATING ACTIVITIES | (7,239,514) | (3,875,811) |
INVESTING ACTIVITIES | ||
NET CASH USED IN INVESTING ACTIVITIES | 0 | 0 |
FINANCING ACTIVITIES | ||
Proceeds from note payable | 650,000 | 0 |
Repayment of notes payable | (1,225,000) | (2,417,000) |
Cash paid for debt as part of merger/recapitalization | 0 | (614,580) |
Proceeds from issuance of common stock and warrants, net of issuance costs | 4,792,346 | 0 |
Shares issued for cash | 500,000 | 3,271,486 |
Shares issued for cash for the conversion warrants | 0 | 5,247,649 |
Warrants issued for cash | 200,000 | 0 |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 4,917,346 | 5,487,555 |
NET INCREASE IN CASH | (2,322,168) | 1,611,744 |
CASH AT BEGINNING OF YEAR | 3,791,302 | 2,179,558 |
CASH AT END OF YEAR | 1,469,134 | 3,791,302 |
SUPPLEMENTAL CASH FLOW DISCLOSURES | ||
Interest paid | 0 | 0 |
Taxes paid (refunded) | 0 | 0 |
SUPPLEMENTAL NON-CASH DISCLOSURES | ||
Shares and warrants issued in exchange for notes receivable | 3,500,000 | 0 |
Shares issued for the conversion of debt | $ 302,926 | $ 0 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Pay vs Performance Disclosure [Table] | ||
Net Income (Loss) Attributable to Parent | $ (21,266,537) | $ (37,574,217) |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Dec. 31, 2023 | |
Trading Arrangements, by Individual [Table] | |
Rule 10b5-1 Arrangement Adopted | false |
Non-Rule 10b5-1 Arrangement Adopted | false |
Rule 10b5-1 Arrangement Terminated | false |
Non-Rule 10b5-1 Arrangement Terminated | false |
DESCRIPTION OF BUSINESS AND BAS
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION | 12 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION | NOTE 1 – DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION Nature of Business General The Merger Transaction About the Company’s Subsidiaries Our current business model is designed around furthering the development of our current product portfolio. We are continually exploring partnership opportunities with companies that have novel therapies in various stages of development or companies with technologies that improve the way that drugs are delivered to patients. We seek the best strategic relationships, which relationships could include in-license agreements, out-license agreements, co-development arrangements and other strategic partnerships in new and exciting therapeutic areas such as auto-immune disease and oncology. Basis of Presentation – As a result of the Merger, the consolidated financial statements included in this report reflect (1) the historical operating results of Coeptis prior to the Merger; (2) the combined results of the Company and Coeptis following the closing of the Merger; (3) the assets and liabilities of Coeptis at their historical cost; and (4) the Company’s equity structure for all periods presented. Principles of Consolidation Risks and Uncertainties |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Cash 1,219,000 3,541,000 Property and Equipment Intangible Assets 1,235 1,384 Research and Development 6,668,244 20,887 Impairment no Derivative Liability Warrants Derivatives and Hedging Income Taxes The Income Taxes Topic of FASB ASC clarifies the accounting and reporting for uncertainties in income tax law within subtopic FASB ASC 740-10-25-5. The guidance prescribes a comprehensive model for the financial statement recognition, measurement, presentation, and disclosure of uncertain tax positions taken or expected to be taken in income tax returns. Management believes that there is no Use of Estimates Employee and Non-Employee Share-Based Compensation Share-Based Payment ASC 718-10 requires companies to estimate the fair value of equity-based option awards on the date of grant using an option-pricing model. The fair value of the award is recognized as an expense on a straight-line basis over the requisite service periods in the Company’s consolidated statements of operations. The Company recognizes share-based award forfeitures as they occur. The Company estimates the fair value of granted option equity awards using a Black-Scholes option pricing model. The option-pricing model requires a number of assumptions, of which the most significant are share price, expected volatility and the expected option term (the time from the grant date until the options are exercised or expire). Expected volatility is estimated based on volatility of the Company. The Company has historically not paid dividends and has no foreseeable plans to issue dividends. The risk-free interest rate is based on the yield from governmental zero-coupon bonds with an equivalent term. The expected option term is calculated for options granted to employees and directors using the “simplified” method. Changes in the determination of each of the inputs can affect the fair value of the options granted and the results of operations of the Company. Adoption of New Accounting Pronouncements Revenue Recognition Earnings Per Share Going Concern 87,356,260 21,266,537 Fair Value of Financial Instruments |
CO-DEVELOPMENT OPTIONS
CO-DEVELOPMENT OPTIONS | 12 Months Ended |
Dec. 31, 2023 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
CO-DEVELOPMENT OPTIONS | NOTE 3 – CO-DEVELOPMENT OPTIONS Prior to 2022, the Company entered into an agreement with Purple Biotech (“Purple”) to market, distribute, and sell the Consensi product (the “Product”) on an exclusive basis within the United States and Puerto Rico. Upon execution of the Agreement the Company paid $1,000,000 to Purple. Two additional milestone payments of $1,500,000 and $1,000,000 were due and paid upon completion of the milestones including the first commercial sale of the Product which occurred and the payments were made prior to 2022. In September of 2021, the Company executed a license termination agreement with Purple to cease all efforts for sales and promotion of the Product in the United States and Puerto Rico. The termination included (i) issuance of $1,500,000 of convertible debt due in 2023 to satisfy amounts owed for the license, (ii) the issue of warrants (See NOTE 5) and (iii) transfer of inventory ownership back to Purple. In conjunction with this termination, the Company also terminated its marketing agreement with a third party for the Product’s sales and promotion. On July 14, 2023, the Company executed an amendment to revise the note’s payment schedule. The revised payment schedule has four milestone payments (the first three of which were paid on July 17, 2023, September 30, 2023, and January 3, 2024 with the remaining payment due on March 31, 2024). The outstanding balance due under the convertible note for the years ended December 31, 2023 and 2022 was $ 625,000 1,500,000 During the year ended December 31, 2021, the Company and Vy-Gen-Bio, Inc. (“Vy-Gen”) entered into agreements to jointly develop and commercialize two Vy-Gen product candidates, CD38-GEAR-NK and CD38-Diagnostic (the “CD38 Assets”). The Company paid $ 1,750,000 3,250,000 5,000,000 250,000 1,500,000 The Company made certain judgments as the basis in determining the accounting treatment of these options. The CD38 Assets represent a platform technology and a diagnostic tool which have multiple applications and uses. Both projects are intended to be used in more than one therapy or diagnostic option. For example, GEAR-NK is a technology which allows for the gene editing of human natural killer cells, so that these cells can no longer bind and be destroyed by targeted monoclonal antibody treatments. The GEAR-NK technology can be modified to work concomitantly with many different monoclonal antibody treatments in which there are currently over 100 approved by the FDA. Anti-CD38 is only the first class of monoclonal antibody treatments being developed under the GEAR-NK platform. Therefore, the pursuit of FDA approval for the use of CD38 assets for at least one indication or medical device approval is at least reasonably expected. Further, as the diagnostic asset may be used as an in vitro technology, it could be classified as a medical device, and therefore toxicity studies would not be a contingency to be resolved before reasonably establishing future value assumptions. In addition, there is perceived value in the CD38 assets, based on publicly disclosed current business deals in cell therapies, the developing market for these innovative technologies, and current interest from third parties in these technologies. The Company may sell or license its right to another party, with the written consent of Vy-Gen, which cannot be unreasonably withheld. Furthermore, the Company believes that any negative results from ongoing development of a single therapy or use, would not result in abandoning the project. Given these considerations, The Company has determined that these options have alternative future use and should be recorded as assets pursuant to ASC 730-10-25-2, Research and Development Related to the joint development, the Company, under the direction of the joint steering committee, is assessing market opportunities, intellectual property protection, and potential regulatory strategies for the CD38 Assets. Vy-Gen is responsible for development activities conducted and overseen by the scientists at Karolinska Institute. The agreement does not currently require additional payments for research and development costs by the Company and no additional payments are required upon development or regulatory milestones. |
DEBT
DEBT | 12 Months Ended |
Dec. 31, 2023 | |
Debt Disclosure [Abstract] | |
DEBT | NOTE 4 – DEBT In January 2020, the Company entered into a senior secured note agreement with an unrelated party. The principal amount of $ 500,000 8 July 31, 2022 400,000 1.50 500,000 135,671 In January 2020, the Company entered into a senior secured note agreement with an unrelated party. The principal amount of $ 167,000 8 July 31, 2022 250,000 1.50 50,000 117,000 42,893 In September 2021, as part of a termination of a license agreement with Purple (see Note 3), the Company issued a convertible note in the principal amount of $ 1,500,000 5 625,000 1,500,000 In October 2022, as a result of the Merger, the Company entered into a convertible promissory note agreement with an unrelated third party in the principal amount of $ 350,000 200,000 50,000 100,000 350,000 In May 2023, the Company entered into an unsecured note agreement with an unrelated party in the principal amount of $ 200,000 4.5 100,000 March 31, 2024 100,000 In June 2023, the Company entered into an unsecured note agreement with an unrelated party in the principal amount of $ 150,000 In September 2023, the Company entered into an unsecured convertible note agreement in the principal amount of $ 150,000 In December 2023, the Company entered into an unsecured note agreement with an unrelated party in the principal amount of $ 150,000 5 June 30, 2024 150,000 Loans under the CARES Act 150,000 3.75 150,000 Maturities of notes payable are as follows for the years ended December 31, Schedule of maturities for long-term debt 2024 $ 975,000 2025 – 2026 – 2027 1,420 2028 3,256 Thereafter 145,324 Total notes payable $ 1,125,000 Derivative Liability Warrants - At December 31, 2023 and 2022, there were (i) 7,500,000 3,750,000 The Company may call the Public Warrants for redemption, in whole and not in part, at a price of $0.01 per warrant: · at any time while the Public Warrants are exercisable, · upon not less than 30 days’ prior written notice of redemption to each Public Warrant holder, · if, and only if, the reported last sale price of the ordinary shares equals or exceeds $16.50 per share, for any 20 trading days within a 30-trading day period ending on the third trading day prior to the notice of redemption to Public Warrant holders, and · if, and only if, there is a current registration statement in effect with respect to the ordinary shares underlying such warrants at the time of redemption and for the entire 30-day trading period referred to above and continuing each day thereafter until the date of redemption. If the Company calls the Public Warrants for redemption, management will have the option to require all holders that wish to exercise the Public Warrants to do so on a “cashless basis,” as described in the warrant agreement. The exercise price and number of ordinary shares issuable upon exercise of the warrants may be adjusted in certain circumstances including in the event of a share dividend, extraordinary dividend or recapitalization, reorganization, merger or consolidation. However, except as described above, the warrants will not be adjusted for issuances of ordinary shares at a price below its exercise price. Additionally, in no event will the Company be required to net cash settle the warrants. If the Company is unable to complete a Business Combination within the Combination Period and the Company liquidates the funds held in the Trust Account, holders of warrants will not receive any of such funds with respect to their warrants, nor will they receive any distribution from the Company’s assets held outside of the Trust Account with respect to such warrants. Accordingly, the warrants may expire worthless. The Private Placement Warrants are identical to the Public Warrants, except that the Private Placement Warrants only allow the holder thereof to one ordinary share. Additionally, the Private Placement Warrants will be exercisable on a cashless basis and be non-redeemable so long as they are held by the initial purchasers or their permitted transferees. If the Private Placement Warrants are held by someone other than the initial purchasers or their permitted transferees, the Private Placement Warrants will be redeemable by the Company and exercisable by such holders on the same basis as the Public Warrants. Within ASC 815, Derivative and Hedging The Company accounts for its Public Warrants and Private Placement Warrants as liabilities as set forth in ASC 815-40-15-7D and 7F. See below for details over the methodology and valuation of the Warrants. The Company follows the guidance in ASC Topic 820, Fair Value Measurement The fair value of the Company’s financial assets and liabilities reflects management’s estimate of amounts that the Company would have received in connection with the sale of the assets or paid in connection with the transfer of the liabilities in an orderly transaction between market participants at the measurement date. In connection with measuring the fair value of its assets and liabilities, the Company seeks to maximize the use of observable inputs (market data obtained from independent sources) and to minimize the use of unobservable inputs (internal assumptions about how market participants would price assets and liabilities). The following fair value hierarchy is used to classify assets and liabilities based on the observable inputs and unobservable inputs used in order to value the assets and liabilities: Level 1: Quoted prices in active markets for identical assets or liabilities. An active market for an asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2: Observable inputs other than Level 1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active. Level 3: Unobservable inputs based on our assessment of the assumptions that market participants would use in pricing the asset or liability. The following table presents information about the Company’s assets that are measured at fair value on a recurring basis at December 31, 2023 and 2022 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value: Schedule of fair value hierarchy Description Level December 31, December 31, Warrant Liability – Public Warrants 1 $ 232,500 $ 750,000 Warrant Liability – Private Placement Warrants 3 $ 324,750 $ 375,000 The Warrants are accounted for as liabilities in accordance with ASC 815-40 and are presented within warrant liabilities on the accompanying consolidated balance sheets. The warrant liabilities are measured at fair value at inception and on a recurring basis, with changes in fair value presented in the consolidated statements of operations. The Warrants were valued using a binomial lattice model, which is considered to be a Level 3 fair value measurement. The binomial lattice model’s primary unobservable input utilized in determining the fair value of the Warrants is the expected volatility of the ordinary shares. The expected volatility as of the Initial Public Offering date was derived from observable public warrant pricing on comparable ‘blank-check’ companies without an identified target. For periods subsequent to the detachment of the Public Warrants from the Units, the close price of the Public Warrant price will be used as the fair value as of each relevant date. The following table provides quantitative information regarding Level 3 fair value measurements: Schedule of fair value assumptions December 31, December 31, Risk-free interest rate 3.84% 3.97% Expected volatility 82.12% 67.1% Exercise price $ 11.50 $ 11.50 Stock Price $ 0.78 $ 1.53 The following table presents the changes in the fair value of warrant liabilities: Schedule of changes in fair value of warrant liabilities Private Placement Public Warrant Liabilities Fair value as of December 31, 2022 $ 375,000 $ 750,000 $ 1,125,000 Change in valuation inputs 1,012,500 375,000 1,387,500 Fair value as of March 31, 2023 1,387,500 1,125,000 2,512,500 Change in valuation inputs 75,000 (600,000 ) (525,000 ) Fair value as of June 30, 2023 1,462,500 525,000 1,987,500 Change in valuation inputs (1,253,625 ) (355,500 ) (1,609,125 ) Fair value as of September 30, 2023 208,875 169,500 378,375 Change in valuation inputs 115,875 63,000 178,875 Fair value as of December 31, 2023 $ 324,750 $ 232,500 $ 557,250 There were no transfers in or out of Level 3 from other levels in the fair value hierarchy during the years ended December 31, 2023 and 2022. |
CAPITAL STRUCTURE
CAPITAL STRUCTURE | 12 Months Ended |
Dec. 31, 2023 | |
Equity [Abstract] | |
CAPITAL STRUCTURE | NOTE 5 – CAPITAL STRUCTURE The total number of shares of stock which the corporation shall have authority to issue is 160,000,000 shares, of which 150,000,000 0.0001 10,000,000 0.0001 Common Stock 35,331,036 19,566,839 In 2023 and 2022, the Company raised capital by issuance of common stock above the stated par value. The contributed capital recognized as additional paid in capital during the years ended December 31, 2023 and 2022 was $ 499,950 3,271,445 no On June 16, 2023, the Company completed a public offering issuing 2,150,000 1,350,000 3,062,500 3,062,500 3 0.0001 3,500,000 1.65 On October 26, 2023, the Company completed a private placement of 777,000 1,223,000 2,000,000 2,000,000 1.8 0.001 1.36 18 5.5 1.65 1.36 120,000 1.40 On December 28, 2023, the Company granted pre-funded warrants exercisable to acquire up to 1,200,000 1,200,000 0.0001 200,000 1,000,000 Treasury Stock 110,762 247,165 110,762 no Preferred Stock no 8,000 Stock Based Compensation – Stock Based Compensation A summary of the Company’s stock option activity is as follows: Schedule of stock option activity Shares Underlying Options Weighted Average Exercise Price Weighted Average Contractual Life (Years) Intrinsic Value Outstanding at December 31, 2022 – – Granted 1,757,500 $ 2.01 8.78 $ – Forfeited – – Exercised – – Outstanding at December 31, 2023 1,757,500 $ 2.01 7.97 $ – For the year ended December 31, 2023 and 2022, the Company recorded $ 477,503 0 1,223,502 The options granted during the year ended December 31, 2023 were valued using the Black-Scholes option pricing model using the following weighted average assumptions: Schedule of options assumptions For the year ended December 31, 2023 Expected term, in years 5.53 Expected volatility 79.87 Risk-free interest rate 3.85 Dividend yield – Common Stock Warrants As a result of the Merger on October 28, 2022, all surviving warrants from Coeptis Therapeutics, Inc. were converted using a 2.9685:1 ratio, and became exercisable to acquire shares of the Company’s common stock. On November 23, 2020, Coeptis Therapeutics, Inc. (under its prior name Vinings Holdings Inc.) issued a class A and a class B warrant to Coral Investment Partners, LP (“CIP”), with each warrant granting CIP the right to purchase 500,000 2 5 November 30, 2023 Warrant Holder 1 500,000 1 500,000 2 500,000 5 June 1, 2026 2,500 504,460 Warrant Holder 2 200,000 1 100,000 2 100,000 5 July 26, 2026 5,000 195,000 75,000 25,000 33,687 On September 22, 2021, Coeptis Therapeutics, Inc. issued a warrant in conjunction with the termination of the license right (see Note 3) with Purple, granting Purple the right to purchase 300,000 5 1,897,585 101,061 Warrant Holder 3 600,000 1 December 20, 2026 300,000 175,000 115,000 10,000 no Warrant Holder 4 300,000 300,000 no Warrant Holder 5 175,000 200,000 126,326 Warrant Holder 6 250,000 1.50 January 31, 2024 84,217 Warrant Holder 7 400,000 1.50 January 31, 2024 134,747 Warrant Holder 8 775,000 1.50 January 31, 2024 775,000 no Warrant Holder 9 200,000 1.50 January 31, 2024 200,000 no Warrant Holder 10 350,000 1.50 January 31, 2024 53,334 50,000 246,666 no Warrant Holder 11 150,000 1 150,000 2 January 31, 2024 170,000 1.50 January 31, 2024 158,328 Warrant Holder 12 1,018,050 1.50 January 31, 2024 100,000 918,050 no Warrant Holder 13 225,000 1.50 January 31, 2024 15,000 210,000 no Warrant Holder 14 – 100,000 1 January 31, 2024 100,000 no Warrant Holder 15 – 100,000 1.50 January 31, 2024 100,000 no Warrant Holder 16 – 100,000 1.50 January 31, 2024 25,000 75,000 no Warrant Holder 17 – 52,050 1.50 January 31, 2024 52,050 no Warrant Holder 18 – 250,000 3 March 30, 2024 84,217 Warrant Holder 19 – 300,000 1.50 April 1, 2027 300,000 no Warrant Holder 20 – 100,000 2.50 January 2, 2027 Warrant Holder 21 – 250,000 1.90 January 19, 2027 Warrant Holder 22 – 126,000 1.25 December 16, 2028 66,000 1.40 April 26, 2029 Warrant Holder 23 – 84,000 1.25 December 16, 2028 48,000 1.40 April 26, 2029 Warrant Holder 24 – 6,000 1.40 April 26, 2029 On April 19, 2022, Coeptis Therapeutics, Inc. initiated a warrant conversion call for certain warrants and on April 20, 2022, for additional warrants. The original expiration for the warrant conversions was set as May 19, 2022, and May 20, 2022. The expiration date was extended and moved to June 30, 2022. A second extension moved the expiration to July 15, 2022, and the third extension moved the expiration date for the warrant conversions to August 1, 2022. The final extension was extended and moved to September 13, 2022. Warrants that were part of the call and not exercised by this date have expired. The warrants listed above and issued since May 28, 2021 and as of December 31, 2023 were valued using the Black-Scholes option pricing model using the following assumptions: 1) exercise price ranging from $1.40 to $14.84 per share, 2) fair value ranging from $1.36 to $6.00 per share, 3) discount rate ranging from 1.15% to 4.81%, 3) dividend rate of 0%, and 4) a term ranging from 2 to 5 years. The warrants listed below were not valued using the Black-Scholes option pricing model. As above, on June 16, 2023, the Company completed a public offering issuing 1,350,000 3,062,500 3,062,500 3,500,000 As above, on October 26, 2023, the Company completed a private placement of pre-funded warrants exercisable to acquire up to 1,223,000 2,000,000 2,000,000 120,000 As above, on December 28, 2023, the Company granted pre-funded warrants exercisable to acquire up to 1,200,000 1,200,000 All warrants outstanding, regardless of valuation method are listed below: Schedule of warrants outstanding Outstanding at Reference Date Issued Exercise price Expiration December 31, 2023 December 31, 2022 Coral Investment Partners 11/23/2020 $5.94 11/23/2023 – 168,434 Coral Investment Partners 11/23/2020 $14.84 11/23/2023 – 168,435 Warrant Holder 1 5/28/2021 $2.97 5/13/2026 167,593 167,592 Warrant Holder 1 5/28/2021 $5.94 5/13/2026 168,434 168,434 Warrant Holder 1 5/28/2021 $14.84 5/13/2026 168,434 168,434 Warrant Holder 2 7/30/2021 $2.97 7/30/2026 8,422 8,422 Warrant Holder 2 7/30/2021 $14.84 6/1/2026 25,265 25,265 Kitov/Purple Biotech 9/23/2021 $14.84 9/21/2024 101,061 101,061 Warrant Holder 5 12/20/2021 $2.97 12/20/2026 58,952 58,952 Warrant Holder 5 1/28/2022 $4.45 1/31/2024 67,374 67,374 Warrant Holder 6 1/28/2022 $4.45 1/31/2024 84,217 84,217 Warrant Holder 7 1/28/2022 $4.45 1/31/2024 134,747 134,747 Warrant Holder 11 1/28/2022 $2.97 1/31/2024 50,530 50,530 Warrant Holder 11 1/28/2022 $5.94 1/31/2024 50,530 50,530 Warrant Holder 11 4/14/2022 $4.45 1/31/2024 57,268 57,268 Warrant Holder 18 3/30/2022 $8.91 3/30/2024 84,217 84,217 Warrant Holder 20 1/3/2023 $2.50 1/2/2027 100,000 – Warrant Holder 21 1/20/2023 $1.90 1/19/2027 250,000 – Pre-Funded Warrants 1 6/16/2023 $0.0001 – * – – Series Warrants A & B 6/16/2023 $1.36 12/16/2028 6,125,000 – Series Warrants A 10/23/2023 $1.36 4/26/2025 2,000,000 – Series Warrants B 10/23/2023 $1.36 4/26/2029 2,000,000 – Warrant Holder 22 6/16/2023 $1.25 12/16/2028 126,000 – Warrant Holder 22 10/23/2023 $1.40 4/26/2029 66,000 – Warrant Holder 23 6/16/2023 $1.25 12/16/2028 84,000 – Warrant Holder 23 10/23/2023 $1.40 4/26/2029 48,000 – Warrant Holder 24 10/23/2023 $1.40 4/26/2029 6,000 – Pre-Funded Warrants 2 12/28/2023 $0.0000 – * 1,200,000 – Total Warrants outstanding 13,232,043 1,563,911 *Pre-funded warrants, do not expire. Options/Stock Awards – |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 12 Months Ended |
Dec. 31, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | NOTE 6 – COMMITMENTS AND CONTINGENCIES Leases 3,750 3,805 3,860 On January 1, 2019, the Company adopted ASC Topic 842, Leases 45,000 Future minimum rental payments required under the lease are as follows: Schedule of future minimum rental payments 2024 $ 45,385 2025 46,046 2026 23,161 Total minimum lease payments: 114,592 Less amount representing interest (15,366 ) Present value of minimum lease payments: $ 99,226 As of December 31, 2023, the Company had recorded a right of use asset of $ 97,571 38,047 61,179 Legal Matters University of Pittsburgh Option Agreement CAR T License 75,000 annual maintenance fees ranging between $15,000 and $25,000 716,714 In September 2023, the Company expanded its exclusive license agreement with the University of Pittsburgh to include the SNAP-CAR technology platform in natural killer (NK) cells. The Company agreed to pay $ 2,000 Deverra Therapeutics, Inc. As consideration for the transactions described above, the Company paid Deverra approximately $ 570,000 4,000,000 On October 26, 2023, the Company entered into a Shared Services Agreement (“SSA”) with Deverra, in accordance with requirements set forth in the APA. Under the terms of the SSA, Coeptis and Deverra will share resources and collaborate to further the development of Coeptis’ GEAR and SNAP-CAR platforms, as well as the purchased and licensed assets under the License Agreement and APA. The term of the SSA is six months from the effective date. Registration Rights Pursuant to a registration rights agreement entered into on October 29, 2020, the holders of the founder shares, the Private Placement Warrants and underlying securities, and any securities issued upon conversion of Working Capital Loans (and underlying securities) would be entitled to registration rights pursuant to a registration rights agreement. The holders of at least a majority in interest of the then-outstanding number of these securities were entitled to make up to three demands, excluding short form demands, that the Company register such securities. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent to the consummation of a Business Combination. Notwithstanding the foregoing, Imperial, I-Bankers and Northland did not exercise their demand and “piggyback” registration rights after five (5) and seven (7) years after the effective date of the registration statement and did not exercise its demand rights on more than one occasion. The registration rights agreement did not contain liquidating damages or other cash settlement provisions resulting from delays in registering the Company’s securities. The Company would bear the expenses incurred in connection with the filing of any such registration statements. |
401(k) PROFIT-SHARING PLAN
401(k) PROFIT-SHARING PLAN | 12 Months Ended |
Dec. 31, 2023 | |
Retirement Benefits [Abstract] | |
401(k) PROFIT-SHARING PLAN | NOTE 7 – 401(k) PROFIT-SHARING PLAN The Company sponsors a qualified profit-sharing plan with a 401(k) feature that covers all eligible employees. Participation in the 401(k) feature of the plan is voluntary. Participating employees may defer up to 100% of their compensation up to the maximum prescribed by the Internal Revenue Code. The plan permits for employee elective deferrals but has no contribution requirements for the Company. During the years ended December 31, 2023 and 2022, no |
INCOME TAXES
INCOME TAXES | 12 Months Ended |
Dec. 31, 2023 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | NOTE 8 – INCOME TAXES The Company has established deferred tax assets and liabilities for the recognition of future deductions or taxable amounts and operating loss carry forward. Deferred tax assets and liabilities for the recognition of future deductions or taxable amounts and operating loss carry forwards. Deferred federal and state income tax expense or benefit is recognized as a result of the change in the deferred tax asset or liability during the year using the currently enacted tax laws and rates that apply to the period in which they are expected to affect taxable income. Valuation allowances are established, if necessary, to reduce deferred tax assets to the amount that will more likely than not be realized. During the years ended December 31, 2023 and 2022, a reconciliation of income tax benefit at the statutory rate of 30.0% and 30.8%, respectively, to income tax benefit at the Company’s effective tax rate is as follows: Schedule of effective income tax reconciliation 2023 2022 Income tax benefit at statutory rate $ 4,357,970 $ 11,648,000 Change in valuation allowance (4,357,970 ) (11,648,000 ) Provision for federal/state income taxes $ – $ – The income tax provision differs from the expense that would result from applying federal statutory rates to income before income taxes as follows: Schedule of income tax provision 2023 2022 Expected federal statutory income tax provision/rate $ (2,965,619 ) $ (21.0% ) $ (7,906,850 ) (21.0% ) State income taxes, net of federal benefit (1,392,351 ) (9.0% ) (3,765,167 ) (10.0% ) Other $ – $ – $ 24,017 0.2% Income tax benefit at statutory rate $ (4,357,970 ) $ (30.0% ) $ (11,648,000 ) (30.8% ) Change in valuation allowance 4,357,970 30.0% 11,648,000 30.8% Provision for income taxes (benefit) $ – $ – $ – – The Company’s calculation of net operating loss carryforwards: Schedule of net operating loss carryforwards As of December 31, 2023 2022 Deferred tax assets Net operating loss carryforwards $ 22,473,712 $ 18,429,000 Derivative liability warrants – 349,000 Section 174 research and development 1,799,825 – PPE and intangible assets 416,708 – State taxes (1,554,275 ) – Total deferred tax assets 23,135,970 18,778,000 Less valuation allowance (23,135,970 ) (18,778,000 ) Net deferred tax assets $ – $ – At December 31, 2023, the Company has approximately $ 75,000,000 |
NOTE RECEIVABLE
NOTE RECEIVABLE | 12 Months Ended |
Dec. 31, 2023 | |
Credit Loss [Abstract] | |
NOTE RECEIVABLE | NOTE 9 – NOTE RECEIVABLE On July 19, 2023 the Company entered into a promissory note agreement with Deverra. The Company agreed to make advances of principal to Deverra of up to an aggregate amount equal to $ 572,000 3 September 30, 2023 In the event that a certain business transaction between the Company and Deverra as contemplated by that certain binding term sheet dated April 13, 2023, and referenced in Note 6, is consummated prior to the Maturity Date, the full amounts due under this note shall be applied against the cash portion of any closing payment due from the Company in connection with such transaction and any excess amounts under this note shall be treated as additional purchase price in connection with the transaction. As of September 30, 2023, and in relation to the Deverra asset purchase referenced in Note 6, $ 567,609 2,892 In September 2023, the Company entered into a note agreement with a third-party borrower. The Company agreed to issue 600,000 500,000 6 August 30, 2024 In September 2023, the Company entered into a note agreement with a third-party borrower. The Company agreed to issue 2,400,000 2,000,000 6 August 30, 2024 In December 2023, the Company entered into a note agreement with a third-party borrower. The Company agreed to grant pre-funded warrants exercisable to acquire up to 1,200,000 1,000,000 6 November 29, 2024 |
RELATED PARTY TRANSACTION
RELATED PARTY TRANSACTION | 12 Months Ended |
Dec. 31, 2023 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTION | NOTE 10 – RELATED PARTY TRANSACTION In September 2023, the Company entered into a transaction with AG Bio Life Capital I LP (“AG”), a Delaware limited partnership, where an employee of the Company is the general partner. The Company agreed to issue 600,000 600,000 100,000 |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Dec. 31, 2023 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 11 – SUBSEQUENT EVENTS Management of the Company has performed a review of all events and transactions occurring after the consolidated balance sheet date of December 31, 2023 for items that would require adjustment to or disclosure in the accompanying consolidated financial statements and noted there were no such events or transactions other than the following. On January 3, 2024, the Company entered into an unsecured note agreement with an unrelated third party in the principal amount of $1,500,000, which was issued with a 10% original issue discount. The original principal amount, together with interest of 8%, is payable by the Company on April 15, 2024, and may be extended at the option of the holder. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
Cash | Cash 1,219,000 3,541,000 |
Property and Equipment | Property and Equipment |
Intangible Assets – Intangibles are being amortized using the straight-line method over estimated useful lives of between five and forty years. For the years ended December 31, 2023 and 2022, depreciation expense totaled $1,235 and $1,384 respectively. | Intangible Assets 1,235 1,384 |
Research and Development | Research and Development 6,668,244 20,887 |
Impairment | Impairment no |
Derivative Liability Warrants | Derivative Liability Warrants Derivatives and Hedging |
Income Taxes | Income Taxes The Income Taxes Topic of FASB ASC clarifies the accounting and reporting for uncertainties in income tax law within subtopic FASB ASC 740-10-25-5. The guidance prescribes a comprehensive model for the financial statement recognition, measurement, presentation, and disclosure of uncertain tax positions taken or expected to be taken in income tax returns. Management believes that there is no |
Use of Estimates | Use of Estimates |
Employee and Non-Employee Share-Based Compensation | Employee and Non-Employee Share-Based Compensation Share-Based Payment ASC 718-10 requires companies to estimate the fair value of equity-based option awards on the date of grant using an option-pricing model. The fair value of the award is recognized as an expense on a straight-line basis over the requisite service periods in the Company’s consolidated statements of operations. The Company recognizes share-based award forfeitures as they occur. The Company estimates the fair value of granted option equity awards using a Black-Scholes option pricing model. The option-pricing model requires a number of assumptions, of which the most significant are share price, expected volatility and the expected option term (the time from the grant date until the options are exercised or expire). Expected volatility is estimated based on volatility of the Company. The Company has historically not paid dividends and has no foreseeable plans to issue dividends. The risk-free interest rate is based on the yield from governmental zero-coupon bonds with an equivalent term. The expected option term is calculated for options granted to employees and directors using the “simplified” method. Changes in the determination of each of the inputs can affect the fair value of the options granted and the results of operations of the Company. |
Adoption of New Accounting Pronouncements | Adoption of New Accounting Pronouncements |
Revenue Recognition | Revenue Recognition |
Earnings Per Share | Earnings Per Share |
Going Concern | Going Concern 87,356,260 21,266,537 |
Fair Value of Financial Instruments | Fair Value of Financial Instruments |
DEBT (Tables)
DEBT (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Debt Disclosure [Abstract] | |
Schedule of maturities for long-term debt | Schedule of maturities for long-term debt 2024 $ 975,000 2025 – 2026 – 2027 1,420 2028 3,256 Thereafter 145,324 Total notes payable $ 1,125,000 |
Schedule of fair value hierarchy | Schedule of fair value hierarchy Description Level December 31, December 31, Warrant Liability – Public Warrants 1 $ 232,500 $ 750,000 Warrant Liability – Private Placement Warrants 3 $ 324,750 $ 375,000 |
Schedule of fair value assumptions | Schedule of fair value assumptions December 31, December 31, Risk-free interest rate 3.84% 3.97% Expected volatility 82.12% 67.1% Exercise price $ 11.50 $ 11.50 Stock Price $ 0.78 $ 1.53 |
Schedule of changes in fair value of warrant liabilities | Schedule of changes in fair value of warrant liabilities Private Placement Public Warrant Liabilities Fair value as of December 31, 2022 $ 375,000 $ 750,000 $ 1,125,000 Change in valuation inputs 1,012,500 375,000 1,387,500 Fair value as of March 31, 2023 1,387,500 1,125,000 2,512,500 Change in valuation inputs 75,000 (600,000 ) (525,000 ) Fair value as of June 30, 2023 1,462,500 525,000 1,987,500 Change in valuation inputs (1,253,625 ) (355,500 ) (1,609,125 ) Fair value as of September 30, 2023 208,875 169,500 378,375 Change in valuation inputs 115,875 63,000 178,875 Fair value as of December 31, 2023 $ 324,750 $ 232,500 $ 557,250 |
CAPITAL STRUCTURE (Tables)
CAPITAL STRUCTURE (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Equity [Abstract] | |
Schedule of stock option activity | Schedule of stock option activity Shares Underlying Options Weighted Average Exercise Price Weighted Average Contractual Life (Years) Intrinsic Value Outstanding at December 31, 2022 – – Granted 1,757,500 $ 2.01 8.78 $ – Forfeited – – Exercised – – Outstanding at December 31, 2023 1,757,500 $ 2.01 7.97 $ – |
Schedule of options assumptions | Schedule of options assumptions For the year ended December 31, 2023 Expected term, in years 5.53 Expected volatility 79.87 Risk-free interest rate 3.85 Dividend yield – |
Schedule of warrants outstanding | Schedule of warrants outstanding Outstanding at Reference Date Issued Exercise price Expiration December 31, 2023 December 31, 2022 Coral Investment Partners 11/23/2020 $5.94 11/23/2023 – 168,434 Coral Investment Partners 11/23/2020 $14.84 11/23/2023 – 168,435 Warrant Holder 1 5/28/2021 $2.97 5/13/2026 167,593 167,592 Warrant Holder 1 5/28/2021 $5.94 5/13/2026 168,434 168,434 Warrant Holder 1 5/28/2021 $14.84 5/13/2026 168,434 168,434 Warrant Holder 2 7/30/2021 $2.97 7/30/2026 8,422 8,422 Warrant Holder 2 7/30/2021 $14.84 6/1/2026 25,265 25,265 Kitov/Purple Biotech 9/23/2021 $14.84 9/21/2024 101,061 101,061 Warrant Holder 5 12/20/2021 $2.97 12/20/2026 58,952 58,952 Warrant Holder 5 1/28/2022 $4.45 1/31/2024 67,374 67,374 Warrant Holder 6 1/28/2022 $4.45 1/31/2024 84,217 84,217 Warrant Holder 7 1/28/2022 $4.45 1/31/2024 134,747 134,747 Warrant Holder 11 1/28/2022 $2.97 1/31/2024 50,530 50,530 Warrant Holder 11 1/28/2022 $5.94 1/31/2024 50,530 50,530 Warrant Holder 11 4/14/2022 $4.45 1/31/2024 57,268 57,268 Warrant Holder 18 3/30/2022 $8.91 3/30/2024 84,217 84,217 Warrant Holder 20 1/3/2023 $2.50 1/2/2027 100,000 – Warrant Holder 21 1/20/2023 $1.90 1/19/2027 250,000 – Pre-Funded Warrants 1 6/16/2023 $0.0001 – * – – Series Warrants A & B 6/16/2023 $1.36 12/16/2028 6,125,000 – Series Warrants A 10/23/2023 $1.36 4/26/2025 2,000,000 – Series Warrants B 10/23/2023 $1.36 4/26/2029 2,000,000 – Warrant Holder 22 6/16/2023 $1.25 12/16/2028 126,000 – Warrant Holder 22 10/23/2023 $1.40 4/26/2029 66,000 – Warrant Holder 23 6/16/2023 $1.25 12/16/2028 84,000 – Warrant Holder 23 10/23/2023 $1.40 4/26/2029 48,000 – Warrant Holder 24 10/23/2023 $1.40 4/26/2029 6,000 – Pre-Funded Warrants 2 12/28/2023 $0.0000 – * 1,200,000 – Total Warrants outstanding 13,232,043 1,563,911 *Pre-funded warrants, do not expire. Options/Stock Awards – |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of future minimum rental payments | Schedule of future minimum rental payments 2024 $ 45,385 2025 46,046 2026 23,161 Total minimum lease payments: 114,592 Less amount representing interest (15,366 ) Present value of minimum lease payments: $ 99,226 |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Income Tax Disclosure [Abstract] | |
Schedule of effective income tax reconciliation | Schedule of effective income tax reconciliation 2023 2022 Income tax benefit at statutory rate $ 4,357,970 $ 11,648,000 Change in valuation allowance (4,357,970 ) (11,648,000 ) Provision for federal/state income taxes $ – $ – |
Schedule of income tax provision | Schedule of income tax provision 2023 2022 Expected federal statutory income tax provision/rate $ (2,965,619 ) $ (21.0% ) $ (7,906,850 ) (21.0% ) State income taxes, net of federal benefit (1,392,351 ) (9.0% ) (3,765,167 ) (10.0% ) Other $ – $ – $ 24,017 0.2% Income tax benefit at statutory rate $ (4,357,970 ) $ (30.0% ) $ (11,648,000 ) (30.8% ) Change in valuation allowance 4,357,970 30.0% 11,648,000 30.8% Provision for income taxes (benefit) $ – $ – $ – – |
Schedule of net operating loss carryforwards | Schedule of net operating loss carryforwards As of December 31, 2023 2022 Deferred tax assets Net operating loss carryforwards $ 22,473,712 $ 18,429,000 Derivative liability warrants – 349,000 Section 174 research and development 1,799,825 – PPE and intangible assets 416,708 – State taxes (1,554,275 ) – Total deferred tax assets 23,135,970 18,778,000 Less valuation allowance (23,135,970 ) (18,778,000 ) Net deferred tax assets $ – $ – |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Accounting Policies [Abstract] | ||
Cash, Uninsured Amount | $ 1,219,000 | $ 3,541,000 |
Depreciation, Depletion and Amortization, Nonproduction | 1,235 | 1,384 |
Research and development expenses | 6,668,244 | 20,887 |
Impairment charges | 0 | 0 |
Uncertain tax positions | 0 | 0 |
Accumulated deficit | 87,356,260 | 66,089,723 |
Net Income (Loss) Attributable to Parent | $ 21,266,537 | $ 37,574,217 |
CO-DEVELOPMENT OPTIONS (Details
CO-DEVELOPMENT OPTIONS (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | |||
Nov. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Convertible Notes Payable | $ 625,000 | $ 1,500,000 | |||
Repayments of Notes Payable | 1,225,000 | $ 2,417,000 | |||
C D 38 Assets [Member] | Vy Gen [Member] | |||||
Payments to Acquire Intangible Assets | $ 1,750,000 | ||||
Notes Issued | $ 3,250,000 | ||||
Capitalized Contract Cost, Gross | $ 5,000,000 | ||||
Repayments of Notes Payable | $ 1,500,000 | $ 250,000 |
DEBT (Details - Debt maturities
DEBT (Details - Debt maturities) | Dec. 31, 2023 USD ($) |
Debt Disclosure [Abstract] | |
2024 | $ 975,000 |
2025 | 0 |
2026 | 0 |
2027 | 1,420 |
2028 | 3,256 |
Thereafter | 145,324 |
Total notes payable | $ 1,125,000 |
DEBT (Details - Fair value)
DEBT (Details - Fair value) - Fair Value, Recurring [Member] - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Public Warrants [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Offsetting Assets [Line Items] | ||
Financial liabilities fair value disclosure | $ 232,500 | $ 750,000 |
Private Placement Warrants [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Offsetting Assets [Line Items] | ||
Financial liabilities fair value disclosure | $ 324,750 | $ 375,000 |
DEBT (Details - Assumptions)
DEBT (Details - Assumptions) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Measurement Input, Risk Free Interest Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Derivatives, determination of fair value | 3.84% | 3.97% |
Measurement Input, Price Volatility [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Derivatives, determination of fair value | 82.12% | 67.1% |
Measurement Input, Exercise Price [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Derivatives, determination of fair value | 11.50 | 11.50 |
Measurement Input, Share Price [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Derivatives, determination of fair value | 0.78 | 1.53 |
DEBT (Details - Changes in fair
DEBT (Details - Changes in fair value of warrant liabilities) - USD ($) | 3 Months Ended | |||
Dec. 31, 2023 | Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | |
Private Placement Warrants [Member] | ||||
Offsetting Assets [Line Items] | ||||
Fair value warrant liabilities at beginning | $ 208,875 | $ 1,462,500 | $ 1,387,500 | $ 375,000 |
Change in valuation inputs | 115,875 | (1,253,625) | 75,000 | 1,012,500 |
Fair value warrant liabilities at ending | 324,750 | 208,875 | 1,462,500 | 1,387,500 |
Public Warrants [Member] | ||||
Offsetting Assets [Line Items] | ||||
Fair value warrant liabilities at beginning | 169,500 | 525,000 | 1,125,000 | 750,000 |
Change in valuation inputs | 63,000 | (355,500) | (600,000) | 375,000 |
Fair value warrant liabilities at ending | 232,500 | 169,500 | 525,000 | 1,125,000 |
Warrant Liabilities [Member] | ||||
Offsetting Assets [Line Items] | ||||
Fair value warrant liabilities at beginning | 378,375 | 1,987,500 | 2,512,500 | 1,125,000 |
Change in valuation inputs | 178,875 | (1,609,125) | (525,000) | 1,387,500 |
Fair value warrant liabilities at ending | $ 557,250 | $ 378,375 | $ 1,987,500 | $ 2,512,500 |
DEBT (Details Narrative)
DEBT (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | ||||||||||||||
Dec. 15, 2023 | Oct. 27, 2023 | Apr. 14, 2022 | Jul. 08, 2020 | Oct. 31, 2023 | Sep. 30, 2023 | Aug. 31, 2023 | Dec. 31, 2022 | Nov. 30, 2022 | Jul. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | Jun. 30, 2023 | May 31, 2023 | Oct. 31, 2022 | Jan. 31, 2020 | |
Debt Instrument [Line Items] | ||||||||||||||||
Repayment of notes payable | $ 1,225,000 | $ 2,417,000 | ||||||||||||||
Convertible note payable | $ 1,500,000 | $ 625,000 | $ 1,500,000 | |||||||||||||
Warrants outstanding | 1,563,911 | 13,232,043 | 1,563,911 | |||||||||||||
Bull Horn Holdings Sponsor L C [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Warrants outstanding | 3,750,000 | 3,750,000 | 3,750,000 | |||||||||||||
License Agreement [Member] | Purple Bio Tech [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Principal amount | $ 1,500,000 | |||||||||||||||
Interest rate | 5% | |||||||||||||||
Convertible note payable | $ 1,500,000 | $ 625,000 | $ 1,500,000 | |||||||||||||
Public Warrants [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Warrants outstanding | 7,500,000 | 7,500,000 | 7,500,000 | |||||||||||||
Senior Secured Note [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Principal amount | $ 500,000 | |||||||||||||||
Debt interest rate | 8% | |||||||||||||||
Debt maturity date | Jul. 31, 2022 | |||||||||||||||
Repayment of notes payable | $ 500,000 | |||||||||||||||
Interest paid | 135,671 | |||||||||||||||
Senior Secured Note [Member] | Debt Extension [Member] | Warrant [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Warrants issued, shares | 400,000 | |||||||||||||||
Warrants exercise price | $ 1.50 | |||||||||||||||
Senior Secured Note 2 [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Principal amount | $ 167,000 | |||||||||||||||
Debt interest rate | 8% | |||||||||||||||
Debt maturity date | Jul. 31, 2022 | |||||||||||||||
Repayment of notes payable | $ 117,000 | $ 50,000 | ||||||||||||||
Senior Secured Note 2 [Member] | Debt Extension [Member] | Warrant [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Warrants issued, shares | 250,000 | |||||||||||||||
Warrants exercise price | $ 1.50 | |||||||||||||||
Note Payable 2 [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Interest paid | $ 42,893 | |||||||||||||||
Convertible Note Payable 1 [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Principal amount | $ 350,000 | |||||||||||||||
Convertible note payable | 350,000 | $ 100,000 | $ 350,000 | |||||||||||||
Repayment of debt | $ 50,000 | $ 200,000 | ||||||||||||||
Unsecured Note [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Principal amount | $ 200,000 | |||||||||||||||
Debt interest rate | 4.50% | |||||||||||||||
Debt maturity date | Mar. 31, 2024 | |||||||||||||||
Repayment of notes payable | $ 100,000 | |||||||||||||||
Convertible note payable | 100,000 | |||||||||||||||
Unsecured Note 2 [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Principal amount | $ 150,000 | |||||||||||||||
Debt converted, amount converted | $ 150,000 | |||||||||||||||
Unsecured Note 3 [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Principal amount | $ 150,000 | |||||||||||||||
Debt converted, amount converted | $ 150,000 | |||||||||||||||
Unsecured Note 4 [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Principal amount | $ 150,000 | |||||||||||||||
Debt interest rate | 5% | |||||||||||||||
Debt maturity date | Jun. 30, 2024 | |||||||||||||||
Unsecured Debt | $ 150,000 | |||||||||||||||
Eidl Loan [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Debt interest rate | 3.75% | |||||||||||||||
Proceeds from loan | $ 150,000 | |||||||||||||||
Note payable amount | $ 150,000 | $ 150,000 | $ 150,000 |
CAPITAL STRUCTURE (Details - Op
CAPITAL STRUCTURE (Details - Option activity) - Stock Options [Member] | 12 Months Ended |
Dec. 31, 2023 USD ($) $ / shares shares | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |
Options outstanding, beginning shares | shares | 0 |
Weighted average exercise price, beginning balance outstanding | $ / shares | $ 0 |
Options granted, shares | shares | 1,757,500 |
Weighted average exercise price, granted | $ / shares | $ 2.01 |
Weighted average contractual life, options granted | 8 years 9 months 10 days |
Options forfeited, shares | shares | 0 |
Weighted average exercise price, forfeited | $ / shares | $ 0 |
Options exercised, shares | shares | 0 |
Weighted average exercise price, exercised | $ / shares | $ 0 |
Options outstanding, ending shares | shares | 1,757,500 |
Weighted average exercise price, ending balance outstanding | $ / shares | $ 2.01 |
Weighted average contractual life, options outstanding | 7 years 11 months 19 days |
Intrinsic value, options outstanding | $ | $ 0 |
CAPITAL STRUCTURE (Details - _2
CAPITAL STRUCTURE (Details - Option assumptions) - Stock Options [Member] | 12 Months Ended |
Dec. 31, 2023 | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |
Expected term, in years | 5 years 6 months 10 days |
Expected volatility | 79.87% |
Risk-free interest rate | 3.85% |
Dividend yield | 0% |
CAPITAL STRUCTURE (Details - Wa
CAPITAL STRUCTURE (Details - Warrants outstanding) - $ / shares | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Class of Stock [Line Items] | ||
Class of Warrant or Right, Outstanding | 13,232,043 | 1,563,911 |
Coral Investment Partners Exercise Price 5. 94 [Member] | ||
Class of Stock [Line Items] | ||
Date Issued | Nov. 23, 2020 | |
Exercise price | $ 5.94 | |
Expiration | Nov. 23, 2023 | |
Class of Warrant or Right, Outstanding | 0 | 168,434 |
Coral Investment Partners Exercise Price 14. 84 [Member] | ||
Class of Stock [Line Items] | ||
Date Issued | Nov. 23, 2020 | |
Exercise price | $ 14.84 | |
Expiration | Nov. 23, 2023 | |
Class of Warrant or Right, Outstanding | 0 | 168,435 |
Warrant Holder 1 Exercise Price 2. 97 [Member] | ||
Class of Stock [Line Items] | ||
Date Issued | May 28, 2021 | |
Exercise price | $ 2.97 | |
Expiration | May 13, 2026 | |
Class of Warrant or Right, Outstanding | 167,593 | 167,592 |
Warrant Holder 1 Exercise Price 5. 94 [Member] | ||
Class of Stock [Line Items] | ||
Date Issued | May 28, 2021 | |
Exercise price | $ 5.94 | |
Expiration | May 13, 2026 | |
Class of Warrant or Right, Outstanding | 168,434 | 168,434 |
Warrant Holder 1 Exercise Price 14. 84 [Member] | ||
Class of Stock [Line Items] | ||
Date Issued | May 28, 2021 | |
Exercise price | $ 14.84 | |
Expiration | May 13, 2026 | |
Class of Warrant or Right, Outstanding | 168,434 | 168,434 |
Warrant Holder 2 Exercise Price 2. 97 [Member] | ||
Class of Stock [Line Items] | ||
Date Issued | Jul. 30, 2021 | |
Exercise price | $ 2.97 | |
Expiration | Jul. 30, 2026 | |
Class of Warrant or Right, Outstanding | 8,422 | 8,422 |
Warrant Holder 2 Exercise Price 14. 84 [Member] | ||
Class of Stock [Line Items] | ||
Date Issued | Jul. 30, 2021 | |
Exercise price | $ 14.84 | |
Expiration | Jun. 01, 2026 | |
Class of Warrant or Right, Outstanding | 25,265 | 25,265 |
Kitov Purple Biotech Exercise Price 14. 84 [Member] | ||
Class of Stock [Line Items] | ||
Date Issued | Sep. 23, 2021 | |
Exercise price | $ 14.84 | |
Expiration | Sep. 21, 2024 | |
Class of Warrant or Right, Outstanding | 101,061 | 101,061 |
Warrant Holder 5 Exercise Price 2. 97 [Member] | ||
Class of Stock [Line Items] | ||
Date Issued | Dec. 20, 2021 | |
Exercise price | $ 2.97 | |
Expiration | Dec. 20, 2026 | |
Class of Warrant or Right, Outstanding | 58,952 | 58,952 |
Warrant Holder 5 Exercise Price 4. 45 [Member] | ||
Class of Stock [Line Items] | ||
Date Issued | Jan. 28, 2022 | |
Exercise price | $ 4.45 | |
Expiration | Jan. 31, 2024 | |
Class of Warrant or Right, Outstanding | 67,374 | 67,374 |
Warrant Holder 6 Exercise Price 4. 45 [Member] | ||
Class of Stock [Line Items] | ||
Date Issued | Jan. 28, 2022 | |
Exercise price | $ 4.45 | |
Expiration | Jan. 31, 2024 | |
Class of Warrant or Right, Outstanding | 84,217 | 84,217 |
Warrant Holder 7 Exercise Price 4. 45 [Member] | ||
Class of Stock [Line Items] | ||
Date Issued | Jan. 28, 2022 | |
Exercise price | $ 4.45 | |
Expiration | Jan. 31, 2024 | |
Class of Warrant or Right, Outstanding | 134,747 | 134,747 |
Warrant Holder 11 Exercise Price 2. 97 [Member] | ||
Class of Stock [Line Items] | ||
Date Issued | Jan. 28, 2022 | |
Exercise price | $ 2.97 | |
Expiration | Jan. 31, 2024 | |
Class of Warrant or Right, Outstanding | 50,530 | 50,530 |
Warrant Holder 11 Exercise Price 5. 94 [Member] | ||
Class of Stock [Line Items] | ||
Date Issued | Jan. 28, 2022 | |
Exercise price | $ 5.94 | |
Expiration | Jan. 31, 2024 | |
Class of Warrant or Right, Outstanding | 50,530 | 50,530 |
Warrant Holder 11 Exercise Price 4. 45 [Member] | ||
Class of Stock [Line Items] | ||
Date Issued | Apr. 14, 2022 | |
Exercise price | $ 4.45 | |
Expiration | Jan. 31, 2024 | |
Class of Warrant or Right, Outstanding | 57,268 | 57,268 |
Warrant Holder 18 Exercise Price 8. 91 [Member] | ||
Class of Stock [Line Items] | ||
Date Issued | Mar. 30, 2022 | |
Exercise price | $ 8.91 | |
Expiration | Mar. 30, 2024 | |
Class of Warrant or Right, Outstanding | 84,217 | 84,217 |
Warrant Holder 20 Exercise Price 2. 50 [Member] | ||
Class of Stock [Line Items] | ||
Date Issued | Jan. 03, 2023 | |
Exercise price | $ 2.50 | |
Expiration | Jan. 02, 2027 | |
Class of Warrant or Right, Outstanding | 100,000 | 0 |
Warrant Holder 21 Exercise Price 1. 90 [Member] | ||
Class of Stock [Line Items] | ||
Date Issued | Jan. 20, 2023 | |
Exercise price | $ 1.90 | |
Expiration | Jan. 19, 2027 | |
Class of Warrant or Right, Outstanding | 250,000 | 0 |
Pre Funded Warrants 1 Exercise Price 0. 0001 [Member] | ||
Class of Stock [Line Items] | ||
Date Issued | Jun. 16, 2023 | |
Exercise price | $ 0.0001 | |
Class of Warrant or Right, Outstanding | 0 | 0 |
Series Warrants A B Exercise Price 1. 36 [Member] | ||
Class of Stock [Line Items] | ||
Date Issued | Jun. 16, 2023 | |
Exercise price | $ 1.36 | |
Expiration | Dec. 16, 2028 | |
Class of Warrant or Right, Outstanding | 6,125,000 | 0 |
Series Warrants A [Member] | ||
Class of Stock [Line Items] | ||
Date Issued | Oct. 23, 2023 | |
Exercise price | $ 1.36 | |
Expiration | Apr. 26, 2025 | |
Class of Warrant or Right, Outstanding | 2,000,000 | 0 |
Series Warrants B [Member] | ||
Class of Stock [Line Items] | ||
Date Issued | Oct. 23, 2023 | |
Exercise price | $ 1.36 | |
Expiration | Apr. 26, 2029 | |
Class of Warrant or Right, Outstanding | 2,000,000 | 0 |
Warrant Holder 22 Exercise Price 1. 25 [Member] | ||
Class of Stock [Line Items] | ||
Date Issued | Jun. 16, 2023 | |
Exercise price | $ 1.25 | |
Expiration | Dec. 16, 2028 | |
Class of Warrant or Right, Outstanding | 126,000 | 0 |
Warrant Holder 22 Exercise Price 1. 40 [Member] | ||
Class of Stock [Line Items] | ||
Date Issued | Oct. 23, 2023 | |
Exercise price | $ 1.40 | |
Expiration | Apr. 26, 2029 | |
Class of Warrant or Right, Outstanding | 66,000 | 0 |
Warrant Holder 23 Exercise Price 1. 25 [Member] | ||
Class of Stock [Line Items] | ||
Date Issued | Jun. 16, 2023 | |
Exercise price | $ 1.25 | |
Expiration | Dec. 16, 2028 | |
Class of Warrant or Right, Outstanding | 84,000 | 0 |
Warrant Holder 23 Exercise Price 1. 40 [Member] | ||
Class of Stock [Line Items] | ||
Date Issued | Oct. 23, 2023 | |
Exercise price | $ 1.40 | |
Expiration | Apr. 26, 2029 | |
Class of Warrant or Right, Outstanding | 48,000 | 0 |
Warrant Holder 24 Exercise Price 1. 40 [Member] | ||
Class of Stock [Line Items] | ||
Date Issued | Oct. 23, 2023 | |
Exercise price | $ 1.40 | |
Expiration | Apr. 26, 2029 | |
Class of Warrant or Right, Outstanding | 6,000 | 0 |
Pre Funded Warrants 2 Exercise Price 0. 0000 [Member] | ||
Class of Stock [Line Items] | ||
Date Issued | Dec. 28, 2023 | |
Exercise price | $ 0 | |
Class of Warrant or Right, Outstanding | 1,200,000 | 0 |
CAPITAL STRUCTURE (Details Narr
CAPITAL STRUCTURE (Details Narrative) - USD ($) | 1 Months Ended | 7 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2023 | Dec. 28, 2023 | Oct. 26, 2023 | Jun. 16, 2023 | Feb. 18, 2022 | Feb. 28, 2021 | Dec. 31, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Apr. 26, 2024 | Jan. 31, 2024 | Oct. 23, 2023 | Jan. 03, 2023 | Sep. 14, 2022 | Sep. 13, 2022 | Sep. 06, 2022 | Aug. 19, 2022 | Jul. 28, 2022 | Jul. 27, 2022 | Jul. 13, 2022 | Jun. 27, 2022 | Apr. 14, 2022 | Mar. 30, 2022 | Mar. 01, 2022 | Jan. 28, 2022 | Dec. 20, 2021 | Sep. 22, 2021 | Jul. 30, 2021 | May 28, 2021 | Nov. 23, 2020 | |
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Common stock, shares authorized | 150,000,000 | 150,000,000 | 150,000,000 | 150,000,000 | |||||||||||||||||||||||||||
Common stock, par value | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | |||||||||||||||||||||||||||
Preferred stock, shares authorized | 10,000,000 | 10,000,000 | 10,000,000 | ||||||||||||||||||||||||||||
Preferred stock, par value | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||||||||||||||||||||||||||||
Common stock, shares issued | 35,331,036 | 35,331,036 | 35,331,036 | 19,566,839 | |||||||||||||||||||||||||||
Common stock, shares outstanding | 35,331,036 | 35,331,036 | 35,331,036 | 19,566,839 | |||||||||||||||||||||||||||
Adjustments to additional paid in capital, other | $ 499,950 | $ 3,271,445 | |||||||||||||||||||||||||||||
Capital distributions | 0 | 0 | |||||||||||||||||||||||||||||
Warrants issued | 2,150,000 | ||||||||||||||||||||||||||||||
Net proceeds warrant | 200,000 | 0 | |||||||||||||||||||||||||||||
Treasury stock | $ 0 | $ 0 | $ 0 | $ 0 | |||||||||||||||||||||||||||
Preferred stock, shares issued | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||
Preferred stock, shares outstanding | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||
General and administrative expense | $ 477,503 | $ 0 | |||||||||||||||||||||||||||||
Unamortized stock-based compensation | $ 1,223,502 | $ 1,223,502 | $ 1,223,502 | ||||||||||||||||||||||||||||
Warrants outstanding | 13,232,043 | 13,232,043 | 13,232,043 | 1,563,911 | |||||||||||||||||||||||||||
Stock Options [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
General and administrative expense | $ 477,503 | $ 0 | |||||||||||||||||||||||||||||
Held By Vinings Shareholders [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Number of shares purchased, shares | 110,762 | ||||||||||||||||||||||||||||||
Number of shares purchased, value | $ 247,165 | ||||||||||||||||||||||||||||||
Number of shares retired | 110,762 | ||||||||||||||||||||||||||||||
Coral Investment Partners [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants outstanding | 500,000 | ||||||||||||||||||||||||||||||
Expiry date | Nov. 30, 2023 | ||||||||||||||||||||||||||||||
Warrant Holder 1 [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants outstanding | 504,460 | 504,460 | 504,460 | ||||||||||||||||||||||||||||
Expiry date | Jun. 01, 2026 | ||||||||||||||||||||||||||||||
Warrant Holder 1 [Member] | Per Share 1 [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants outstanding | 500,000 | ||||||||||||||||||||||||||||||
Exercise price of warrants | $ 1 | ||||||||||||||||||||||||||||||
Warrants exercised shares | 2,500 | ||||||||||||||||||||||||||||||
Warrant Holder 1 [Member] | Per Share 2 [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants outstanding | 500,000 | ||||||||||||||||||||||||||||||
Exercise price of warrants | $ 2 | ||||||||||||||||||||||||||||||
Warrant Holder 1 [Member] | Per Share 5 [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants outstanding | 500,000 | ||||||||||||||||||||||||||||||
Exercise price of warrants | $ 5 | ||||||||||||||||||||||||||||||
Warrant Holder 2 [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants outstanding | 33,687 | 33,687 | 33,687 | ||||||||||||||||||||||||||||
Expiry date | Jul. 26, 2026 | ||||||||||||||||||||||||||||||
Warrant Holder 2 [Member] | Per Share 1 [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants outstanding | 200,000 | ||||||||||||||||||||||||||||||
Exercise price of warrants | $ 1 | ||||||||||||||||||||||||||||||
Warrants exercised shares | 195,000 | 5,000 | |||||||||||||||||||||||||||||
Warrant Holder 2 [Member] | Per Share 2 [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants outstanding | 100,000 | ||||||||||||||||||||||||||||||
Exercise price of warrants | $ 2 | ||||||||||||||||||||||||||||||
Warrants exercised shares | 75,000 | ||||||||||||||||||||||||||||||
Warrants expired shares | 25,000 | ||||||||||||||||||||||||||||||
Warrant Holder 2 [Member] | Per Share 5 [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants outstanding | 100,000 | ||||||||||||||||||||||||||||||
Exercise price of warrants | $ 5 | ||||||||||||||||||||||||||||||
Purple Bio Tech [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants outstanding | 101,061 | 101,061 | 101,061 | 300,000 | |||||||||||||||||||||||||||
Exercise price of warrants | $ 5 | ||||||||||||||||||||||||||||||
Purple Bio Tech [Member] | Common Stock Purchase Warrants [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
General and administrative expense | $ 1,897,585 | ||||||||||||||||||||||||||||||
Warrant Holder 3 [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants outstanding | 600,000 | ||||||||||||||||||||||||||||||
Exercise price of warrants | $ 1 | ||||||||||||||||||||||||||||||
Expiry date | Dec. 20, 2026 | ||||||||||||||||||||||||||||||
Warrants exercised shares | 115,000 | ||||||||||||||||||||||||||||||
Warrants expired shares | 10,000 | ||||||||||||||||||||||||||||||
Warrants outstanding | 0 | 0 | 0 | ||||||||||||||||||||||||||||
Warrant Holder 3 [Member] | Transferred To Warrant Holder 4 [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants transferred | 300,000 | ||||||||||||||||||||||||||||||
Warrant Holder 3 [Member] | Transferred To Warrant Holder 5 [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants transferred | 175,000 | ||||||||||||||||||||||||||||||
Warrant Holder 4 [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants outstanding | 300,000 | ||||||||||||||||||||||||||||||
Warrants exercised shares | 300,000 | ||||||||||||||||||||||||||||||
Warrants outstanding | 0 | 0 | 0 | ||||||||||||||||||||||||||||
Warrant Holder 5 [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants outstanding | 126,326 | 126,326 | 126,326 | 175,000 | |||||||||||||||||||||||||||
Warrant Holder 9 [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants outstanding | 200,000 | ||||||||||||||||||||||||||||||
Exercise price of warrants | $ 1.50 | ||||||||||||||||||||||||||||||
Expiry date | Jan. 31, 2024 | ||||||||||||||||||||||||||||||
Warrants outstanding | 0 | 0 | 0 | ||||||||||||||||||||||||||||
Warrant Holder 9 [Member] | Transferred To Warrant Holder 5 [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants transferred | 200,000 | ||||||||||||||||||||||||||||||
Warrant Holder 6 [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants outstanding | 84,217 | 84,217 | 84,217 | 250,000 | |||||||||||||||||||||||||||
Exercise price of warrants | $ 1.50 | ||||||||||||||||||||||||||||||
Expiry date | Jan. 31, 2024 | ||||||||||||||||||||||||||||||
Warrant Holder 7 [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants outstanding | 134,747 | 134,747 | 134,747 | 400,000 | |||||||||||||||||||||||||||
Exercise price of warrants | $ 1.50 | ||||||||||||||||||||||||||||||
Expiry date | Jan. 31, 2024 | ||||||||||||||||||||||||||||||
Warrant Holder 8 [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants outstanding | 775,000 | ||||||||||||||||||||||||||||||
Exercise price of warrants | $ 1.50 | ||||||||||||||||||||||||||||||
Expiry date | Jan. 31, 2024 | ||||||||||||||||||||||||||||||
Warrants exercised shares | 775,000 | ||||||||||||||||||||||||||||||
Warrants outstanding | 0 | 0 | 0 | ||||||||||||||||||||||||||||
Warrant Holder 10 [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants outstanding | 350,000 | ||||||||||||||||||||||||||||||
Exercise price of warrants | $ 1.50 | ||||||||||||||||||||||||||||||
Expiry date | Jan. 31, 2024 | ||||||||||||||||||||||||||||||
Warrants exercised shares | 246,666 | 50,000 | 53,334 | ||||||||||||||||||||||||||||
Warrants outstanding | 0 | 0 | 0 | ||||||||||||||||||||||||||||
Warrant Holder 11 [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants outstanding | 158,328 | 158,328 | 158,328 | ||||||||||||||||||||||||||||
Expiry date | Jan. 31, 2024 | ||||||||||||||||||||||||||||||
Warrant Holder 11 [Member] | Per Share 1 [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants outstanding | 150,000 | ||||||||||||||||||||||||||||||
Exercise price of warrants | $ 1 | ||||||||||||||||||||||||||||||
Warrant Holder 11 [Member] | Per Share 2 [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants outstanding | 150,000 | ||||||||||||||||||||||||||||||
Exercise price of warrants | $ 2 | ||||||||||||||||||||||||||||||
Warrant Holder 11 [Member] | Per Share 150 [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants outstanding | 170,000 | ||||||||||||||||||||||||||||||
Exercise price of warrants | $ 1.50 | ||||||||||||||||||||||||||||||
Expiry date | Jan. 31, 2024 | ||||||||||||||||||||||||||||||
Warrant Holder 12 [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants outstanding | 1,018,050 | ||||||||||||||||||||||||||||||
Exercise price of warrants | $ 1.50 | ||||||||||||||||||||||||||||||
Expiry date | Jan. 31, 2024 | ||||||||||||||||||||||||||||||
Warrants exercised shares | 918,050 | 100,000 | |||||||||||||||||||||||||||||
Warrants outstanding | 0 | 0 | 0 | ||||||||||||||||||||||||||||
Warrant Holder 13 [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants outstanding | 225,000 | ||||||||||||||||||||||||||||||
Exercise price of warrants | $ 1.50 | ||||||||||||||||||||||||||||||
Expiry date | Jan. 31, 2024 | ||||||||||||||||||||||||||||||
Warrants exercised shares | 210,000 | 15,000 | |||||||||||||||||||||||||||||
Warrants outstanding | 0 | 0 | 0 | ||||||||||||||||||||||||||||
Warrant Holder 14 [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants outstanding | 100,000 | ||||||||||||||||||||||||||||||
Exercise price of warrants | $ 1 | ||||||||||||||||||||||||||||||
Expiry date | Jan. 31, 2024 | ||||||||||||||||||||||||||||||
Warrants exercised shares | 100,000 | ||||||||||||||||||||||||||||||
Warrants outstanding | 0 | 0 | 0 | ||||||||||||||||||||||||||||
Warrant Holder 15 [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants outstanding | 100,000 | ||||||||||||||||||||||||||||||
Exercise price of warrants | $ 1.50 | ||||||||||||||||||||||||||||||
Expiry date | Jan. 31, 2024 | ||||||||||||||||||||||||||||||
Warrants exercised shares | 100,000 | ||||||||||||||||||||||||||||||
Warrants outstanding | 0 | 0 | 0 | ||||||||||||||||||||||||||||
Warrant Holder 16 [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants outstanding | 100,000 | ||||||||||||||||||||||||||||||
Exercise price of warrants | $ 1.50 | ||||||||||||||||||||||||||||||
Expiry date | Jan. 31, 2024 | ||||||||||||||||||||||||||||||
Warrants exercised shares | 75,000 | 25,000 | |||||||||||||||||||||||||||||
Warrants outstanding | 0 | 0 | 0 | ||||||||||||||||||||||||||||
Warrant Holder 17 [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants outstanding | 52,050 | ||||||||||||||||||||||||||||||
Exercise price of warrants | $ 1.50 | ||||||||||||||||||||||||||||||
Expiry date | Jan. 31, 2024 | ||||||||||||||||||||||||||||||
Warrants exercised shares | 52,050 | ||||||||||||||||||||||||||||||
Warrants outstanding | 0 | 0 | 0 | ||||||||||||||||||||||||||||
Warrant Holder 18 [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants outstanding | 84,217 | 84,217 | 84,217 | 250,000 | |||||||||||||||||||||||||||
Exercise price of warrants | $ 3 | ||||||||||||||||||||||||||||||
Expiry date | Mar. 30, 2024 | ||||||||||||||||||||||||||||||
Warrant Holder 19 [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants outstanding | 300,000 | ||||||||||||||||||||||||||||||
Exercise price of warrants | $ 1.50 | ||||||||||||||||||||||||||||||
Expiry date | Apr. 01, 2027 | ||||||||||||||||||||||||||||||
Warrants exercised shares | 300,000 | ||||||||||||||||||||||||||||||
Warrants outstanding | 0 | 0 | 0 | ||||||||||||||||||||||||||||
Warrant Holder 20 [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants outstanding | 100,000 | ||||||||||||||||||||||||||||||
Exercise price of warrants | $ 2.50 | ||||||||||||||||||||||||||||||
Expiry date | Jan. 02, 2027 | ||||||||||||||||||||||||||||||
Warrant Holder 21 [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants outstanding | 250,000 | ||||||||||||||||||||||||||||||
Exercise price of warrants | $ 1.90 | ||||||||||||||||||||||||||||||
Expiry date | Jan. 19, 2027 | ||||||||||||||||||||||||||||||
Warrant Holder 22 [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants outstanding | 126,000 | 66,000 | |||||||||||||||||||||||||||||
Exercise price of warrants | $ 1.25 | $ 1.40 | |||||||||||||||||||||||||||||
Expiry date | Dec. 16, 2028 | Apr. 26, 2029 | |||||||||||||||||||||||||||||
Warrant Holder 23 [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants outstanding | 84,000 | 48,000 | |||||||||||||||||||||||||||||
Exercise price of warrants | $ 1.25 | $ 1.40 | |||||||||||||||||||||||||||||
Expiry date | Dec. 16, 2028 | Apr. 26, 2029 | |||||||||||||||||||||||||||||
Warrant Holder 24 [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants outstanding | 6,000 | ||||||||||||||||||||||||||||||
Exercise price of warrants | $ 1.40 | ||||||||||||||||||||||||||||||
Expiry date | Apr. 26, 2029 | ||||||||||||||||||||||||||||||
Maximum [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Exercise price of warrants | $ 1.65 | ||||||||||||||||||||||||||||||
Minimum [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Exercise price of warrants | $ 1.36 | ||||||||||||||||||||||||||||||
Forecast [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Exercise price of warrants | $ 1.36 | ||||||||||||||||||||||||||||||
Private Placement [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants issued | 120,000 | ||||||||||||||||||||||||||||||
Warrants outstanding | 777,000 | ||||||||||||||||||||||||||||||
Exercise price of warrants | $ 1.40 | ||||||||||||||||||||||||||||||
Private Placement [Member] | Pre Funded Warrants [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Net proceeds warrant | $ 1,200,000 | ||||||||||||||||||||||||||||||
Warrants issued, shares | 1,200,000 | 1,223,000 | |||||||||||||||||||||||||||||
Private Placement [Member] | Series A Warrants [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants issued, shares | 2,000,000 | ||||||||||||||||||||||||||||||
Private Placement [Member] | Series B Warrants [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants issued, shares | 2,000,000 | ||||||||||||||||||||||||||||||
Private Placement [Member] | Placement Agent [Member] | Series Warrants [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants issued, shares | 120,000 | ||||||||||||||||||||||||||||||
Public Offering [Member] | Pre Funded Warrants [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Common stock issued | 3,500,000 | ||||||||||||||||||||||||||||||
Warrants issued, shares | 1,350,000 | ||||||||||||||||||||||||||||||
Warrants converted | 1,350,000 | ||||||||||||||||||||||||||||||
Public Offering [Member] | Series A Warrants [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants issued, shares | 3,062,500 | ||||||||||||||||||||||||||||||
Public Offering [Member] | Series B Warrants [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants issued, shares | 3,062,500 | ||||||||||||||||||||||||||||||
Common Stock [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Common stock, shares authorized | 150,000,000 | 150,000,000 | 150,000,000 | ||||||||||||||||||||||||||||
Common stock, par value | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||||||||||||||||||||||||||||
Pre Funded Warrant [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Warrants outstanding | 1,200,000 | 1,223,000 | 1,350,000 | ||||||||||||||||||||||||||||
Net proceeds warrant | $ 1,200,000 | $ 1,800,000 | $ 3,000,000 | ||||||||||||||||||||||||||||
Exercise price of warrants | $ 0.001 | $ 0.0001 | |||||||||||||||||||||||||||||
Common stock issued | 3,500,000 | ||||||||||||||||||||||||||||||
Aggregate exercise price of warrant | 200,000 | ||||||||||||||||||||||||||||||
Pre Funded Warrant [Member] | Subsequent Event [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Exercise price of warrants | $ 0.0001 | ||||||||||||||||||||||||||||||
Series A Warrant [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Class of warrant or right, outstanding gross | 2,000,000 | 3,062,500 | |||||||||||||||||||||||||||||
Exercisable term | 18 months | ||||||||||||||||||||||||||||||
Series B Warrant [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Class of warrant or right, outstanding gross | 2,000,000 | 3,062,500 | |||||||||||||||||||||||||||||
Exercise price of warrants | $ 1.65 | ||||||||||||||||||||||||||||||
Exercisable term | 5 years 6 months | ||||||||||||||||||||||||||||||
Warrant Note Receivables [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Aggregate exercise price of warrant | $ 1,000,000 | ||||||||||||||||||||||||||||||
Series B Preferred Stock [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Preferred stock, shares issued | 8,000 | ||||||||||||||||||||||||||||||
Preferred stock, shares outstanding | 8,000 | ||||||||||||||||||||||||||||||
Common Class A [Member] | Coral Investment Partners [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Exercise price of warrants | $ 2 | ||||||||||||||||||||||||||||||
Common Class B [Member] | Coral Investment Partners [Member] | |||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||
Exercise price of warrants | $ 5 |
COMMITMENTS AND CONTINGENCIES_2
COMMITMENTS AND CONTINGENCIES (Details) | Dec. 31, 2023 USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
2024 | $ 45,385 |
2025 | 46,046 |
2026 | 23,161 |
Total minimum lease payments: | 114,592 |
Less amount representing interest | (15,366) |
Present value of minimum lease payments: | $ 99,226 |
COMMITMENTS AND CONTINGENCIES_3
COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | ||||
Aug. 16, 2023 | Aug. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | Sep. 30, 2023 | Jan. 25, 2023 | |
Offsetting Assets [Line Items] | ||||||
Monthly rent | $ 3,750 | |||||
Lease expense | 45,000 | $ 45,000 | ||||
Right of use asset | 97,571 | 58,914 | ||||
Current lease liabilities | 38,047 | 41,618 | ||||
Non-current lease liabilities | 61,179 | $ 14,723 | ||||
Agreement amendment fee | $ 2,000 | |||||
Deverra [Member] | ||||||
Offsetting Assets [Line Items] | ||||||
[custom:CashPayment] | $ 570,000 | |||||
Debt Conversion, Converted Instrument, Shares Issued | 4,000,000 | |||||
Car T License [Member] | ||||||
Offsetting Assets [Line Items] | ||||||
Initial license fee | $ 75,000 | |||||
Annual maintenance fee description | annual maintenance fees ranging between $15,000 and $25,000 | |||||
Payments of performance based milestones | $ 716,714 | |||||
First Year Extension [Member] | ||||||
Offsetting Assets [Line Items] | ||||||
Monthly rent | 3,805 | |||||
Second Year Extension [Member] | ||||||
Offsetting Assets [Line Items] | ||||||
Monthly rent | $ 3,860 |
401(k) PROFIT-SHARING PLAN (Det
401(k) PROFIT-SHARING PLAN (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Retirement Benefits [Abstract] | ||
Employer contributions | $ 0 | $ 0 |
INCOME TAXES (Details - reconci
INCOME TAXES (Details - reconcilation of income tax) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Income Tax Disclosure [Abstract] | ||
Income tax benefit at statutory rate | $ 4,357,970 | $ 11,648,000 |
Change in valuation allowance | (4,357,970) | (11,648,000) |
Provision for federal/state income taxes | $ 0 | $ 0 |
INCOME TAXES (Details - recon_2
INCOME TAXES (Details - reconcilation of provision) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Income Tax Disclosure [Abstract] | ||
Expected federal statutory income tax provision/rate | $ (2,965,619) | $ (7,906,850) |
Expected federal statutory income tax provision, rate | (21.00%) | (21.00%) |
State income taxes, net of federal benefit | $ (1,392,351) | $ (3,765,167) |
State income taxes, net of federal benefit, rate | (9.00%) | (10.00%) |
Other | $ 0 | $ 24,017 |
Other, rate | 0% | 0.20% |
Income tax benefit at statutory rate | $ (4,357,970) | $ (11,648,000) |
Income tax benefit at statutory rate, rate | (30.00%) | (30.80%) |
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | $ 4,357,970 | $ 11,648,000 |
Income tax benefit at statutory rate, rate | 30% | 30.80% |
Income Tax Expense (Benefit) | $ 0 | $ 0 |
Effective Income Tax Rate Reconciliation, Percent | 0% | 0% |
INCOME TAXES (Details - operati
INCOME TAXES (Details - operating loss carryforwards) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Income Tax Disclosure [Abstract] | ||
Net operating loss carryforwards | $ 22,473,712 | $ 18,429,000 |
Derivative liability warrants | 0 | 349,000 |
Section 174 research and development | 1,799,825 | 0 |
PPE and intangible assets | 416,708 | 0 |
State taxes | (1,554,275) | 0 |
Total deferred tax assets | 23,135,970 | 18,778,000 |
Less valuation allowance | (23,135,970) | (18,778,000) |
Net deferred tax assets | $ 0 | $ 0 |
INCOME TAXES (Details Narrative
INCOME TAXES (Details Narrative) | Dec. 31, 2023 USD ($) |
Income Tax Disclosure [Abstract] | |
Net operating loss carry forwards | $ 75,000,000 |
NOTE RECEIVABLE (Details Narrat
NOTE RECEIVABLE (Details Narrative) - Notes Receivable [Member] - USD ($) | 12 Months Ended | ||
Sep. 30, 2023 | Jul. 19, 2023 | Dec. 31, 2023 | |
Borrower [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Note receivable | $ 500,000 | $ 572,000 | $ 1,000,000 |
Note receivable interest rate | 6% | 3% | 6% |
Note receivable due date | Aug. 30, 2024 | Sep. 30, 2023 | Nov. 29, 2024 |
Principal received | $ 567,609 | ||
Principal received | $ 2,892 | ||
Stock issued, shares | 600,000 | ||
Warrants exercisable | 1,200,000 | ||
Borrower 1 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Note receivable | $ 2,000,000 | ||
Note receivable interest rate | 6% | ||
Note receivable due date | Aug. 30, 2024 | ||
Stock issued, shares | 2,400,000 |
RELATED PARTY TRANSACTION (Deta
RELATED PARTY TRANSACTION (Details Narrative) - USD ($) | 12 Months Ended | ||
Sep. 30, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | |
Proceeds from common stock | $ 500,000 | $ 3,271,486 | |
A G Bio Life Capital I L P [Member] | |||
Shares issued | 600,000 | ||
Note receivable | $ 600,000 | ||
Proceeds from common stock | $ 100,000 |