Indaptus Therapeutics (INDP) 10-K 21 Mar 22 2021 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2021	Mar. 16, 2022	Jun. 30, 2021
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2021
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--12-31
Entity File Number	001-37521
Entity Registrant Name	INDAPTUS THERAPEUTICS, INC.
Entity Central Index Key	0001857044
Entity Tax Identification Number	86-3158720
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	3 Columbus Circle
Entity Address, Address Line Two	15th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10019
City Area Code	(347)
Local Phone Number	480-9760
Title of 12(b) Security	Common stock, par value $0.01
Trading Symbol	INDP
Security Exchange Name	NASDAQ
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	false
Entity Shell Company	false
Entity Public Float			$ 25,712,232
Entity Common Stock, Shares Outstanding		8,258,597
Documents Incorporated by Reference	None
ICFR Auditor Attestation Flag	false
Auditor Name	HASKELL & WHITE LLP
Auditor Firm ID	200
Auditor Location	Irvine, California

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 39,132,165	$ 1,637,499
Assets held for sale	148,400
Prepaid expenses and other current assets	1,106,653	94,500
Total current assets	40,387,218	1,731,999
Non-current assets:
Property and equipment, net	3,800	1,349
Operating lease right-of-use asset	169,088
Other assets	16,477	44,445
Total non-current assets	189,365	45,794
Total assets	40,576,583	1,777,793
Current liabilities:
Accounts payable and other current liabilities	4,507,676	598,365
Operating lease liability, current portion	96,465
SAFE agreements		1,417,129
Total current liabilities	4,604,141	2,015,494
Non-current liabilities:
Operating lease liability, net of current portion	72,862
Total non-current liabilities	72,862
Total liabilities	4,677,003	2,015,494
Stockholders’ equity (deficit):
Preferred stock; Series Seed; $0.01 par value; 5,000,000 and 972,335 shares authorized as of December 31, 2021 and 2020, respectively, 0 and 835,928 shares issued and outstanding as of December 31, 2021 and 2020, respectively		8,359
Common stock; $0.01 par value, 200,000,000 and 3,185,224 shares authorized as of December 31, 2021 and 2020, respectively; 8,258,597 and 1,944,672 shares issued and outstanding as of December 31, 2021 and 2020, respectively	82,586	19,447
Additional paid in capital	51,487,881	7,693,994
Accumulated deficit	(15,670,887)	(7,959,501)
Total stockholders’ equity (deficit)	35,899,580	(237,701)
Total liabilities and stockholders’ equity (deficit)	$ 40,576,583	$ 1,777,793

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	972,335
Preferred stock, shares issued	0	835,928
Preferred stock, shares outstanding	0	835,928
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	200,000,000	3,185,224
Common stock, shares issued	8,258,597	1,944,672
Common stock, shares outstanding	8,258,597	1,944,672

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Operating expenses:
Research and development	$ 2,523,153	$ 2,655,017
General and administrative	5,205,955	944,248
Total operating expenses	7,729,108	3,599,265
Loss from operations	(7,729,108)	(3,599,265)
Other income, net	17,722	15,114
Net loss	$ (7,711,386)	$ (3,584,151)
Net loss available to common stockholders per share of common stock, basic and diluted	$ (1.89)	$ (1.84)
Weighted average number of shares used in calculating net loss per share, basic and diluted	4,090,599	1,944,672

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Deficit) - USD ($)	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Dec. 31, 2019	$ 8,359	$ 19,447	$ 7,557,991	$ (4,375,350)	$ 3,210,447
Beginning balance, shares at Dec. 31, 2019	835,928	1,944,672
Stock-based compensation			139,960		139,960
Financing costs			(3,957)		(3,957)
Net loss				(3,584,151)	(3,584,151)
Ending balance, value at Dec. 31, 2020	$ 8,359	$ 19,447	7,693,994	(7,959,501)	(237,701)
Ending balance, shares at Dec. 31, 2020	835,928	1,944,672
Stock-based compensation			1,510,258		1,510,258
Conversion of preferred stock	$ (8,359)	$ 8,359
Conversion of preferred stock, Shares	(835,928)	835,928
Conversion of SAFEs		$ 7,666	6,409,463		6,417,129
Conversion of SAFE agreements, shares		766,627
Issuance of common stock upon merger, net of Decoy’s transaction costs in the amount of $655,627		$ 18,587	8,246,233		8,264,820
Issuance of common stock upon merger, net of Decoy's transaction costs, shares		1,858,743
Issuance of pre-funded warrants and warrants, net of issuance costs in the amount of $2,706,598			27,266,129		27,266,129
Exercise of pre-funded warrants		$ 27,273			27,273
Exercise of prepaid warrants, shares		2,727,273
Exercise of stock options		$ 1,254	361,804		$ 363,058
Exercise of stock options, shares		125,354			125,354
Net loss				(7,711,386)	$ (7,711,386)
Ending balance, value at Dec. 31, 2021		$ 82,586	$ 51,487,881	$ (15,670,887)	$ 35,899,580
Ending balance, shares at Dec. 31, 2021		8,258,597

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Deficit) (Parenthetical)	12 Months Ended
	Dec. 31, 2021USD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Decoy's transaction costs	$ 665,627
Private Placement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Issuance expense	2,706,598
Merger Transaction [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Decoy's transaction costs	$ 655,627

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net loss	$ (7,711,386)	$ (3,584,151)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	1,403	852
Stock-based compensation	1,510,258	139,960
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(837,917)	2,811
Accounts payable and other current liabilities	(4,236,656)	113,900
Operating lease right-of-use asset and liability, net	240
Other assets	(16,477)	2,000
Net cash used in operating activities	(11,290,535)	(3,324,628)
Cash flows from investing activities:
Proceeds received for assets held for sale	451,600
Purchases of property and equipment	(3,854)
Net cash provided by investing activities	447,746
Cash flows from financing activities:
Proceeds from merger	16,346,622
Decoy’s transaction costs	(665,627)
Issuance of pre-funded warrants and warrants	29,972,727
Issuance costs of Private Placement	(2,706,598)
Exercise of prepaid warrants	27,273
Proceeds from SAFEs, net	5,000,000	1,163,172
Exercise of stock options	363,058
Net cash provided by financing activities	48,337,455	1,163,172
Net increase (decrease) in cash and cash equivalents	37,494,666	(2,161,456)
Cash and cash equivalents at beginning of year	1,637,499	3,798,955
Cash and cash equivalents at end of year	39,132,165	1,637,499
Noncash investing and financing activities
Conversion of preferred stock	8,359
Conversion of SAFEs	6,417,129
Liabilities assumed, net of non-cash assets received in reverse merger	7,616,175
Initial recognition of operating right-of-use asset and lease liability upon lease commencement	183,480
Reclass from non-current assets to current assets	44,445
Release of deposit upon closing of Merger	200,000
Supplemental cash flow disclosures
Cash paid for income taxes	800	800
Cash received for interest earned on deposits	$ 5,141	$ 14,260

GENERAL

GENERAL	12 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GENERAL	NOTE 1: GENERAL a. Indaptus Therapeutics, Inc. and its wholly owned subsidiaries, Decoy Biosystems, Inc. and Intec Pharma Ltd., collectively (the “Company”), is a biotechnology company dedicated to enhancing and expanding curative cancer immunotherapy for patients with unresectable or metastatic solid tumors and lymphomas, which are responsible for more than 90% of all cancer deaths. The Company is developing a novel, multi-targeted product that activates both innate and adaptive anti-tumor and anti-viral immune responses. Indaptus Therapeutics, Inc. (“Indaptus”), formerly “Intec Parent Inc.”, was established and incorporated in Delaware on February 24, 2021, as a private Delaware corporation and wholly owned subsidiary of Intec Pharma Ltd., (“Intec Israel”), a former publicly traded company. b. On August 3, 2021, Indaptus completed its merger with Decoy Biosystems, Inc., (“Decoy”), following the satisfaction or waiver of the conditions set forth in the Agreement and Plan of Merger (the “Merger Agreement”), dated as of March 15, 2021 among Indaptus, Decoy, Intec Israel, Domestication Merger Sub Ltd., an Israeli company and a wholly-owned subsidiary of Indaptus (“Domestication Merger Sub”), and Dillon Merger Subsidiary Inc., a Delaware corporation and wholly owned subsidiary of Indaptus (“the Merger Sub”), pursuant to which Merger Sub merged with and into Decoy, with Decoy surviving as a wholly owned subsidiary of Indaptus (the “Merger”) and the business conducted by Decoy became the business conducted by Indaptus. Previously, on July 26, 2021, Intec Israel implemented a 1-for-4 reverse share split of its outstanding ordinary shares, options and warrants and proportionate adjustments were made to its exercise prices. In addition, on July 27, 2021, Intec Israel, Indaptus and the Domestication Merger Sub, completed the domestication merger pursuant to the terms and conditions of the Agreement and Plan of Merger and Reorganization, dated April 27, 2021, whereby Domestication Merger Sub merged with and into Intec Israel, with Intec Israel being the surviving entity and a wholly-owned subsidiary of Indaptus. Also, in connection with the Merger, Indaptus changed its name from “Intec Parent, Inc.” to “Indaptus Therapeutics, Inc.”. Following completion of the Merger, shares of Indaptus common stock commenced trading at market open on August 4, 2021, on the Nasdaq Capital Market under the name “Indaptus Therapeutics, Inc.” and under the symbol “INDP”. In connection with the completion of the Merger, on August 4, 2021, the Company’s board determined to wind down the Accordion Pill business of Intec Israel which was completed as of the date of issuance of these consolidated financial statements. For accounting purposes, Decoy is considered to have acquired Indaptus based on the terms of the Merger and an analysis of the criteria outlined in Accounting Standards Codification 805. The Merger has been accounted for as a reverse merger transaction rather than a business combination, as the net assets acquired/assumed by Decoy do not meet the definition of a business under U.S. GAAP. Accordingly, the historical financial statements of Decoy became the historical financial statements of the combined company upon the consummation of the Merger and the net assets acquired in connection with the Merger were recorded at their estimated fair value as of August 3, 2021, the date of completion of the Merger. Prior to the Merger, Decoy’s capitalization was comprised of 732,635 shares of common stock, par value $ 0.001 per share (the “Decoy Common Stock”), 314,928 shares of Decoy preferred stock, par value $ 0.001 per share that were converted into 314,928 shares of Decoy Common Stock and 288,818 shares of Decoy common stock after giving effect to the conversion of Decoy SAFEs (Simple Agreements for Future Equity) into Decoy Common Stock. As of the effective time of the Merger, each outstanding share of Decoy Common Stock was converted into 2.654353395 shares of Indaptus common stock, par value $ 0.01 per share. Accordingly, 1,336,381 shares of Decoy’s Common Stock were converted into 3,547,227 shares of Indaptus common stock. In addition, at the effective time of the Merger, each outstanding and unexercised Decoy stock option converted into a stock option exercisable for that number of shares of Indaptus common stock subject to such option and the exercise price being appropriately adjusted to reflect the exchange ratio. Accordingly, outstanding options to purchase 77,639 shares of Decoy Common Stock were converted into stock options to purchase 206,079 Indaptus common stock. The accompanying consolidated financial statements and notes to the consolidated financial statements give retroactive effect to the exchange ratio for all periods presented. Any difference is recognized as an adjustment to additional paid in capital. On August 3, 2021, immediately prior to the effectiveness of the Merger, Indaptus had 1,858,743 17.9 8.7 The following table summarizes the net assets acquired based on their estimated fair values as of August 3, 2021, immediately prior to completion of the Merger: ESTIMATED FAIR VALUE OF ASSETS ACQUIRED Cash and cash equivalents $ 16,346,622 Assets held for sale 600,000 Prepaid and other assets 129,791 Accrued liabilities (8,345,966 ) Acquired net assets $ 8,730,447 c. In connection with the Merger, on July 23, 2021, Indaptus entered into a securities purchase agreement (the “Purchase Agreement”) with a certain institutional investor, pursuant to which Indaptus agreed to sell and issue, in a private placement (the “Private Placement”), pre-funded warrants and warrants for total net proceeds of approximately $ 27.3 million, after deducting the placement agent’s fees and other estimated offering expenses payable by Indaptus in the amount of approximately $ 2.7 million. In September 2021, the pre-funded warrant was fully exercised. In addition, in connection with the Private Placement, Indaptus issued to the placement agent a warrant to purchase 136,364 shares of Indaptus’ common stock at an exercise price of $ 13.75 . For further details see note 6c (2). Risks and uncertainties The Company is subject to a number of risks similar to those of other companies of similar size in its industry, including, but not limited to, the need for successful development of products, the need for additional capital (or financing) to fund operating losses (see below), competition from substitute products and services from larger companies, protection of proprietary technology, patent litigation, and dependence on key individuals. The COVID-19 pandemic, that has spread globally, has resulted in significant financial market volatility and uncertainty in the past year. The COVID-19 pandemic is affecting the United States and global economies and may affect the Company’s operations and those of third parties on which the Company relies, including by causing disruptions in the supply of its product candidates and the conduct of future clinical trials. For example, the pandemic has caused our good manufacturing practice (GMP) process to take longer than expected. In addition, the COVID-19 pandemic may affect the operations of the FDA and other health authorities, which could result in delays of reviews and approvals, including with respect to the Company’s product candidates. Additionally, while the potential economic impact brought by, and the duration of, the COVID-19 pandemic is difficult to assess or predict, the impact of the COVID-19 pandemic on the global financial markets may reduce the Company’s ability to access capital, which could negatively impact its short-term and long-term liquidity. The ultimate impact of the COVID-19 pandemic is highly uncertain and subject to change. While it is unknown how long these conditions will last and what the complete financial effect will be to the Company, capital raise efforts and additional development of the Company’s technologies may be negatively affected. Going concern and management’s plans The Company has incurred net losses and utilized cash in operations since inception, has an accumulated deficit as of December 31, 2021, of $ 15.7 million, and expects to continue to incur additional losses as clinical testing and commercialization of the Company’s product candidates will require significant additional financing. Prior to the closing of the Merger, on August 3, 2021, Indaptus closed a private placement to raise gross cash proceeds of $ 30.0 million. The Company believes it has adequate cash to fund its operations for at least one year after the date of issuance of these consolidated financial statements. Management plans to raise additional capital through equity and/or debt financings, or other capital sources, including potential collaborations, licenses, and other similar arrangements. However, these plans are not entirely within its control and cannot be assessed as being probable of occurring. The Company’s ability to raise additional capital may be adversely impacted by potential worsening of global economic conditions and the recent disruptions to, and volatility in, financial markets in the United States and worldwide resulting from the developing conflict between Russia and Ukraine and the ongoing COVID-19 pandemic. If the Company is unable to raise capital when needed or on attractive terms, it would be forced to delay, reduce, or eliminate its research and development programs or other operations. If any of these events occur, the Company’s ability to achieve the development and commercialization goals would be adversely affected. These consolidated financial statements have been prepared assuming that the Company will continue as a going concern and do not include any adjustments that might result from the outcome of this uncertainty.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	NOTE 2: SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). Principles of consolidation The consolidated financial statements include the accounts of Indaptus and its subsidiaries. Intercompany balances and transactions have been eliminated upon consolidation. Use of estimates The preparation of financial statements in accordance with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements, and the reported amounts of expenses during the reporting periods. The most significant estimates relate to the determination of the fair value of stock-based compensation and the determination of period-end obligations to certain contract research organizations. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, and makes adjustments when facts and circumstances dictate. These estimates are based on information available as of the date of the consolidated financial statements; therefore, actual results could differ from those estimates. Loss per share Loss per share, basic and diluted, is computed on the basis of the net loss for the period divided by the weighted average number of common stock outstanding during the period. Diluted loss per share is based upon the weighted average number of common stock and of common stock equivalents outstanding when dilutive. Common stock equivalents include outstanding stock options and warrants which are included under the treasury stock method when dilutive. The following stock options and warrants were excluded from the calculation of diluted loss per share because their effect would have been anti-dilutive for the periods presented (share data): SCHEDULE OF ANTI-DILUTIVE SECURITIES For the year ended December 31, 2021 2020 Outstanding stock options 632,659 206,079 Warrants 1,876,569 - Cash and cash equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. As of December 31, 2021, and 2020, cash and cash equivalents consist primarily of checking and money market deposits. The Company’s cash balances exceed those that are federally insured; however, the Company believes it is not exposed to significant credit risk due to the financial strength of the depository institutions in which the cash and cash equivalents are held. To date, the Company has not recognized any losses caused by uninsured balances. Assets held for sale In connection with the Merger, the Company determined certain equipment held for use by pre-Merger Intec Israel was no longer useful to the Company’s operations and entered into an agreement with an unrelated party to sell the equipment. The Company recognizes assets held for sale at estimated fair value. Based on purchase offers that the unrelated party received from certain buyers in November 2021 the fair value of the equipment was approximately $ 600,000 450,000 Property and equipment Property and equipment assets are stated at cost less accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. The Company uses an estimated useful life of three years five years Patents The Company expenses patent costs, including related legal costs, as incurred and records such costs within general and administrative expense in the accompanying consolidated statements of operations. Research and development expenses Research and development expenses include costs directly attributable to the conduct of research and development programs, including the cost of salaries, share-based compensation expenses, payroll taxes and other employee benefits, subcontractors and materials used for research and development activities, including clinical trials and professional services. All costs associated with research and developments are expensed as incurred. The Company accrues for expenses resulting from obligations under agreements with contract research organizations (“CROs”), contract manufacturing organizations (“CMOs”), and other outside service providers for which payment flows do not match the periods over which services or materials are provided to the Company. Accruals are recorded based on estimates of services received and efforts expended pursuant to agreements with CROs, CMOs, and other outside service providers. These estimates are typically based on contracted amounts applied to the proportion of work performed and determined through analysis with internal personnel and external service providers as to the progress or stage of completion of the services. In the event advance payments are made to a CRO, CMO, or outside service provider, the payments will be recorded as a prepaid asset, which will be amortized or expensed as the contracted services are performed. General and administrative expenses General and administrative expenses include compensation, employee benefits, and stock-based compensation for executive management, finance administration and human resources, facility costs (including rent), professional service fees, and other general overhead costs, including depreciation, to support the Company’s operations. Income taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recorded for deferred tax assets if it is more likely than not that some portion or all of the deferred tax assets will not be realized in the foreseeable future. As of December 31, 2021 and 2020, the Company has recorded a full valuation allowance against its deferred tax assets. The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest related to unrecognized tax benefits in interest expense and penalties in general and administrative expenses. Stock-based compensation The Company measures and records the expense related to stock-based payment awards based on the fair value of those awards as determined using the Black-Scholes-Merton (“Black-Scholes”) option pricing model as of the date of grant. The Company recognizes stock-based compensation expense over the requisite service period of the individual grant, generally equal to the vesting period, on a straight-line basis. The Black-Scholes model requires the use of highly subjective and complex assumptions, which determine the fair value of stock-based awards, including the option’s expected term and the price volatility of the underlying stock. The Company estimates the fair value of options granted by using the Black-Scholes model with the following assumptions: Expected Volatility Expected Term Risk-Free Interest Rate Dividend Yield The Company has elected to recognize forfeitures as they occur. Fair value measurements Fair value is defined as the exchange price that would be received for an asset or an exit price that would be paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company follows the established framework for measuring fair value and providing disclosures about fair value measurements. The accounting guidance classifies fair value measurements in one of the following three categories for disclosure purposes: Level 1: Quoted prices in active markets for identical assets or liabilities. Level 2: Inputs other than Level 1 prices for similar assets or liabilities that are directly or indirectly observable in the marketplace. Level 3: Unobservable inputs which are supported by little or no market activity and values determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant judgment or estimation. Accounting Standards Codification (“ASC”) 820 – Fair Value Measurement requires all entities to disclose the fair value of financial instruments, both assets and liabilities, for which it is practicable to estimate fair value, and defines the fair value of a financial instrument as the amount at which the instrument could be exchanged in a current transaction between willing parties. As of December 31, 2021 and 2020, the recorded values of cash equivalents, assets held for sale, prepaid expenses, and accounts payable and other current liabilities approximate their fair values due to the short-term nature of these items. As of December 31, 2020, the carrying value of outstanding SAFEs approximates the estimated aggregate fair value of the instruments as the valuation cap provided in the SAFEs is a reasonable approximation of the Company’s enterprise value. On August 3, 2021, the SAFEs converted into common stock of the post-Merger entity. Recently adopted accounting pronouncements In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820), – Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement, which makes a number of changes to add, modify or remove certain disclosure requirements associated with the movement amongst or hierarchy associated with Level 1, Level 2 and Level 3 fair value measurements. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company adopted ASU 2018-13 as of January 1, 2020 with no impact on the consolidated financial statements. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (“ASU 2019-12”), which simplifies the accounting for income taxes by eliminating certain exceptions to the guidance in ASC 740 related to the approach for intra-period tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The new guidance also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. The guidance is effective for fiscal years beginning after December 31, 2020 and interim periods within that year. The Company adopted ASU 2019-12 on January 1, 2021 with no impact to its consolidated financial statements or related disclosures.

PREPAID EXPENSES AND OTHER CURR

PREPAID EXPENSES AND OTHER CURRENT ASSETS	12 Months Ended
	Dec. 31, 2021
Prepaid Expenses And Other Current Assets
PREPAID EXPENSES AND OTHER CURRENT ASSETS	NOTE 3: PREPAID EXPENSES AND OTHER CURRENT ASSETS Prepaid expenses and other current assets are comprised of the following: SCHEDULE OF PREPAID EXPENSE AND OTHER CURRENT ASSETS December 31, December 31, 2021 2020 Prepaid insurance $ 945,023 $ 6,972 Prepaid research and development 127,643 83,550 Other receivables 21,056 - Other prepaid expenses 12,931 3,978 Total prepaid expenses and other current assets $ 1,106,653 $ 94,500

ACCOUNTS PAYABLE AND OTHER CURR

ACCOUNTS PAYABLE AND OTHER CURRENT LIABILITIES	12 Months Ended
	Dec. 31, 2021
Payables and Accruals [Abstract]
ACCOUNTS PAYABLE AND OTHER CURRENT LIABILITIES	NOTE 4: ACCOUNTS PAYABLE AND OTHER CURRENT LIABILITIES Accounts payable and other current liabilities are comprised of the following: SCHEDULE OF ACCOUNTS PAYABLE AND OTHER CURRENT LIABILITIES December 31, December 31, 2021 2020 Accounts payable $ 2,637,806 $ 155,957 Accrued employee costs 1,371,136 - Accrued professional fees 139,871 63,753 Accrued research and development 135,751 171,630 Accrued board fees 125,333 - Other accrued expenses 97,779 7,025 Deposit - 200,000 Total accounts payable and other current liabilities $ 4,507,676 $ 598,365

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	NOTE 5: STOCK-BASED COMPENSATION In 2018, Decoy adopted the Decoy Biosystems, Inc. 2018 Equity Incentive Plan (the “2018 Plan”). Pursuant to 2018 Plan, the board of directors may grant nonstatutory stock options to purchase shares of Decoy’s common stock to outside directors and consultants and either nonstatutory or incentive stock options to purchase shares of Decoy’s common stock to employees. In June 2021, the Intec Israel shareholders voted to approve the Indaptus 2021 Stock Incentive Plan, an equity incentive plan for grants to employees, officers, consultants, directors and other service providers, (the “2021 Plan”), that became effective upon the closing of the Merger. The 2021 Plan provides for up to 1,864,963 shares of the Company’s common stock. Immediately after the Merger, all Decoy’s outstanding options under the 2018 Plan were converted into options to purchase 206,079 shares of Company common stock under the 2021 Plan. In addition, immediately after the Merger, all Intec Israel’s outstanding options were converted into options to purchase 57,701 shares of Company common stock under the 2021 Plan. Future awards may be made only under the 2021 plan. The 2021 Plan provides for the grant of non-qualified stock options, incentive stock options, restricted stock awards, restricted stock units, unrestricted stock awards, stock appreciation rights and other forms of stock-based compensation. The 2021 Plan permits the Company’s board to change the type, terms and conditions of awards as circumstances may change. On August 4, 2021, Indaptus’ board approved a grant of an aggregate of options to purchase 1,049,750 SCHEDULE OF OPTIONS GRANTED TO DIRECTORS, EXECUTIVE OFFICERS AND EMPLOYEES Number of options granted Exercise price Vesting period Expiration Executive officers and employees 940,000 $ 8.87 1 3 5 10 Directors 109,750 $ 8.87 1 10 On December 1, 2021, Indaptus’ board approved a grant of options to purchase 20,000 5.35 vest over one year, and expire ten years after grant A summary of the stock option activity during the year ended December 31, 2021, is presented in the table below: SCHEDULE OF SHARE BASED COMPENSATION Weighted average Shares Exercise price Remaining contractual life Intrinsic value Outstanding as of January 1, 2021 206,079 $ 2.86 8.2 $ 28,003 Granted 1,069,750 $ 8.80 $ - Options converted upon Merger 57,701 $ 237.10 $ - Exercised (125,354 ) $ 2.90 $ 434,208 Forfeited and cancelled (33,516 ) $ 58.93 $ - Outstanding as of December 31, 2021 1,174,660 $ 17.10 9.1 $ 241,103 Exercisable as of December 31, 2021 120,750 $ 83.90 6.3 $ 234,103 Vested and expected to vest December 31, 2021 1,171,423 $ 17.04 9.1 $ 241,103 The Company recognized stock-based compensation expense of $ 1,510,258 139,960 SCHEDULE OF STOCK BASED COMPENSATION EXPENSES For the year ended For the year ended December 31, 2021 December 31, 2020 Research and development $ 387,111 $ 90,017 General and administrative 1,123,147 49,943 Total stock-based compensation expense $ 1,510,258 $ 139,960 As of December 31, 2021, total compensation cost not yet recognized related to unvested stock options was approximately $ 6.0 1.9 The Company estimates the fair value of stock options on the date of grant using the Black-Scholes option-pricing model. The Black-Scholes option-pricing model requires estimates of highly subjective assumptions, which affect the fair value of each stock option. The weighted average inputs used to measure the value of the options granted during the year ended December 31, 2021 are presented in the table below. The weighted average fair value of stock options granted during the year ended December 31, 2021 was $ 6.92 . SCHEDULE OF WEIGHTED AVERAGE INPUTS USED TO MEASURE VALUE OF OPTIONS GRANTED 2021 Stock price $ 8.80 Exercise price $ 8.80 Expected term 5.73 Volatility 103.3 % Risk free rate 0.7 % Dividend yield 0.0 % The following table presents the exercise price of outstanding stock options as of December 31, 2021: SCHEDULE OF EXERCISE PRICE OF OUTSTANDING STOCK OPTIONS Exercise price Options outstanding $ 0.01 8.00 100,725 $ 8.01 16.00 1,036,000 $ 16.00 37,935 Total 1,174,660

CAPITALIZATION

CAPITALIZATION	12 Months Ended
	Dec. 31, 2021
Capitalization
CAPITALIZATION	NOTE 6: CAPITALIZATION a. In August 2018, Decoy entered into the Series Seed Preferred Stock Purchase Agreement (“Series Seed SPA”), under which 835,928 (“Series Seed Preferred”) shares were issued in exchange for cash consideration of $ 6.0 million. The purchase price of Series Seed Preferred shares was $ 7.20 per share. In connection with the Merger, all outstanding shares of Series Seed Preferred stock were converted into the Company’s common stock on August 3, 2021, the date of closing of the Merger. b. Decoy issued a series of SAFEs with accredited investors between December 2019 and April 2021. The total carrying value of the SAFEs was $ 1.4 million as of December 31, 2020, and $ 6.4 million immediately before the Merger. On August 3, 2021, the date of the closing of the Merger, the SAFEs converted into 766,627 shares of common stock of the Company. As of December 31, 2020, the SAFEs were potentially settleable in cash, and accordingly, the Company presented the instruments as liabilities. c. Pre-funded Warrants and Warrants: (1) Immediately after the Merger, all Intec Israel’s warrants were converted into warrants to purchase 227,150 shares of common stock of Indaptus, for further details see table below. (2) On July 23, 2021, Indaptus entered into a Purchase Agreement with a certain institutional investor, pursuant to which Indaptus agreed to sell and issue, in a Private Placement, Pre-Funded Warrants to purchase 2,727,237 2,727,237 10.99 0.01 11.00 27.3 2.7 27,273 136,364 13.75 7.16 The following table summarizes the number of warrants outstanding with exercise price and remaining contractual life as of December 31, 2021: SUMMARY OF WARRANTS OUTSTANDING WITH EXERCISE PRICE AND REMAINING CONTRACTUAL LIFE Weighted average Shares Exercise price Remaining contractual life Outstanding January 1, 2021 - - - Warrants converted upon Merger 227,150 $ 29.81 Warrants issued in the Private Placement 2,863,637 $ 11.13 Outstanding and exercisable as of December 31, 2021 3,090,787 $ 12.50 5.0 d. Employee Stock Options: 1) In October 2021, options to purchase 60,336 180,000 2) In December 2021, options to purchase 65,018 182,000 As of December 31, 2021, the Company had 200,000,000 8,258,597 3,185,224 1,944,672

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 7: COMMITMENTS AND CONTINGENCIES Litigation As of the date of issuance of these consolidated financial statements there were no pending legal proceedings against the Company that are expected to have a material adverse effect on cash flows, financial condition or results of operations. From time to time, the Company could become involved in disputes and various litigation matters that arise in the normal course of business. These may include disputes and lawsuits related to intellectual property, licensing, contract law and employee relations matters. Periodically, the Company reviews the status of significant matters, if any exist, and assesses its potential financial exposure. If the potential loss from any claim or legal claim is considered probable and the amount can be estimated, the Company accrues a liability for the estimated loss. Legal proceedings are subject to uncertainties, and the outcomes are difficult to predict. Because of such uncertainties, accruals are based on the best information available at the time. As additional information becomes available, the Company reassesses the potential liability related to pending claims and litigation. Leases The Company leased office space under a short-term operating lease agreement that automatically renews for successive three-month periods. Either the Company or the landlord can terminate the lease with 60 days written notice, whereupon the lease agreement termination will be effective the last day of the last three-month extension period. The Company accounts for the lease pursuant to the short-term practical expedient available under ASC 842-20. The Company provided written notice of the termination of the lease on December 1, 2021 and the lease terminated January 31, 2022. On October 1, 2021, the Company entered into a noncancelable two-year operating lease agreement for approximately 1,975 7,999 3 7 Future minimum annual lease payments under the Company’s noncancelable operating lease as of December 31, 2021 are as follows: SUMMARY OF MINIMUM LEASE PAYMENTS December 31, 2022 $ 96,465 2023 82,387 Total minimum lease payments 178,852 Less: amount representing interest (9,525 ) Present value of operating lease liability 169,327 Less: current portion (96,465 ) Operating lease liability, net of current portion $ 72,862 The Company recognized rent expense of $ 42,226 27,554 41,986 27,554

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 8: INCOME TAXES As of December 31, 2021, the Company had net operating loss carry forwards that may be available to reduce future years’ taxable income. The Company’s provision for income taxes consisted of the following: SCHEDULE OF PROVISION FOR INCOME TAXES For the year ended December 31, 2021 2020 Computed “expected” tax expense (benefit) $ (1,619,223 ) $ (753,335 ) State taxes, net of federal benefit 44,332 (249,886 ) Non-deductible items - 16 Change in deferred tax asset valuation allowance 1,395,737 1,004,005 Stock-based compensation 171,727 - Other 9,077 - Income tax expense $ 1,650 $ 800 Deferred income taxes reflect the net tax effects of (a) temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes, and (b) operating losses and tax credit carryforwards. The Company’s net deferred tax assets were comprised of the following as of December 31, 2021 and 2020: SCHEDULE OF NET DEFERRED TAX ASSETS 2021 2020 Deferred tax assets: Accrual to cash $ 331,855 $ 139,034 Stock options 157,196 79,208 Property and equipment 373 10 Capitalized R&D 1,199,792 - Operating lease liabilities 35,559 - Net operating loss carryforwards 51,780,342 2,021,774 Total gross deferred tax assets 53,505,117 2,240,026 Deferred tax liabilities: Right-of-use asset (35,508 ) - Gross deferred tax liabilities (35,508 ) - Less: Deferred tax asset valuation allowance (53,469,609 ) (2,240,026 ) Total net deferred tax assets $ - $ - Deferred income tax assets and liabilities are recorded for differences between the financial statement and tax basis of the assets and liabilities that will result in taxable or deductible amounts in the future based on enacted laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. ASC 740 requires that the tax benefit of net operating losses, temporary differences and credit carryforwards be recorded as an asset to the extent that management assesses that realization is “more likely than not.” Realization of the future tax benefits is dependent on the Company’s ability to generate sufficient taxable income within the carryforward period. Because of the Company’s recent history of operating losses, management believes that recognition of the deferred tax assets arising from the above-mentioned future tax benefits is currently not likely to be realized and, accordingly, has provided a full valuation allowance for the years ended December 31, 2021 and 2020. The net change in total valuation allowance for the years ended December 31, 2021 and 2020 was an increase of $ 51.2 million and increase of $ 1.0 million, respectively. The increase in valuation allowance is primarily driven by the incorporation of the Intec Israel deferreds that are not expected, on a more likely than not basis, to be realized. As of December 31, 2021 and 2020, the Company has federal net operating loss carryforwards of $ 12.5 7.3 7.3 5.8 0.8 11.7 7.3 210.9 The Company’s ability to utilize its net operating losses may be limited under Section 382 and 383 of the Internal Revenue Code. The limitations apply if an ownership change, as defined by Section 382, occurs. Generally, an ownership change occurs when certain shareholders increase their aggregate ownership by more than 50 percentage points over their lowest ownership percentage in a testing period (typically three years). Although the Company has not undergone a Section 382 analysis, it is possible that the utilization of the net operating losses, could be substantially limited, especially given the changes in ownership that resulted from the Merger. Additionally, U.S. tax laws limit the time during which these carryforwards may be utilized against future taxes. As a result, the Company may not be able to take full advantage of these carryforwards for federal and state tax purposes. Future changes in stock ownership may also trigger an ownership change and, consequently, a Section 382 limitation. The Company recognizes the benefit of tax positions taken or expected to be taken in its tax returns in the consolidated financial statements when it is more likely than not that the position will be sustained upon examination by authorities. Recognized tax positions are measured at the largest amount of benefit that is greater than 50% likely of being realized upon settlement . As of December 31, 2021 and 2020, the Company has not recorded any unrecognized tax benefits. The Company records interest related to unrecognized tax benefits in interest expense and penalties in general and administrative expenses. As of December 31, 2021 and 2020, the Company recorded no The Company files income tax returns in the U.S. federal jurisdiction and various state jurisdictions. In the normal course of business, the Company is subject to examination by taxing authorities. The Company is not currently under audit by the Internal Revenue Service or other similar state and local authorities. All tax years remain open to examination by major taxing jurisdictions to which the Company is subject. The Company files U.S. federal and various state income tax returns and is subject to examination for tax years back to 2018 and 2017 for federal and state purposes, respectively, and its NOL’s dating back to inception are subject to adjustment by the taxing authorities if claimed on a future tax filing for which the statute remain open to examination. The Company also files Israeli tax returns and is subject to examination for tax years back to 2017.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 9: SUBSEQUENT EVENTS The Company evaluated subsequent events from December 31, 2021, the date of these consolidated financial statements, through March 18, 2022, which represents the date the consolidated financial statements were issued, for events requiring recognition or disclosure in the consolidated financial statements for the period ended December 31, 2021. The Company concluded that no events have occurred that would require recognition or disclosure in the consolidated financial statements, except as described below: 1. On January 26, 2022, the board of directors approved a grant of options to purchase an aggregate of 289,200 4.90 ten years 1.1 2. On February 1, 2022, the board of directors approved a grant of options to purchase an aggregate of 90,000 4.97 ten years 360,000 3. On February 25, 2022, the board of directors approved a grant of options to purchase an aggregate of 60,000 4.18 ten years 200,000

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”).
Principles of consolidation	Principles of consolidation The consolidated financial statements include the accounts of Indaptus and its subsidiaries. Intercompany balances and transactions have been eliminated upon consolidation.
Use of estimates	Use of estimates The preparation of financial statements in accordance with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements, and the reported amounts of expenses during the reporting periods. The most significant estimates relate to the determination of the fair value of stock-based compensation and the determination of period-end obligations to certain contract research organizations. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, and makes adjustments when facts and circumstances dictate. These estimates are based on information available as of the date of the consolidated financial statements; therefore, actual results could differ from those estimates.
Loss per share	Loss per share Loss per share, basic and diluted, is computed on the basis of the net loss for the period divided by the weighted average number of common stock outstanding during the period. Diluted loss per share is based upon the weighted average number of common stock and of common stock equivalents outstanding when dilutive. Common stock equivalents include outstanding stock options and warrants which are included under the treasury stock method when dilutive. The following stock options and warrants were excluded from the calculation of diluted loss per share because their effect would have been anti-dilutive for the periods presented (share data): SCHEDULE OF ANTI-DILUTIVE SECURITIES For the year ended December 31, 2021 2020 Outstanding stock options 632,659 206,079 Warrants 1,876,569 -
Cash and cash equivalents	Cash and cash equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. As of December 31, 2021, and 2020, cash and cash equivalents consist primarily of checking and money market deposits. The Company’s cash balances exceed those that are federally insured; however, the Company believes it is not exposed to significant credit risk due to the financial strength of the depository institutions in which the cash and cash equivalents are held. To date, the Company has not recognized any losses caused by uninsured balances.
Assets held for sale	Assets held for sale In connection with the Merger, the Company determined certain equipment held for use by pre-Merger Intec Israel was no longer useful to the Company’s operations and entered into an agreement with an unrelated party to sell the equipment. The Company recognizes assets held for sale at estimated fair value. Based on purchase offers that the unrelated party received from certain buyers in November 2021 the fair value of the equipment was approximately $ 600,000 450,000
Property and equipment	Property and equipment Property and equipment assets are stated at cost less accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. The Company uses an estimated useful life of three years five years
Patents	Patents The Company expenses patent costs, including related legal costs, as incurred and records such costs within general and administrative expense in the accompanying consolidated statements of operations.
Research and development expenses	Research and development expenses Research and development expenses include costs directly attributable to the conduct of research and development programs, including the cost of salaries, share-based compensation expenses, payroll taxes and other employee benefits, subcontractors and materials used for research and development activities, including clinical trials and professional services. All costs associated with research and developments are expensed as incurred. The Company accrues for expenses resulting from obligations under agreements with contract research organizations (“CROs”), contract manufacturing organizations (“CMOs”), and other outside service providers for which payment flows do not match the periods over which services or materials are provided to the Company. Accruals are recorded based on estimates of services received and efforts expended pursuant to agreements with CROs, CMOs, and other outside service providers. These estimates are typically based on contracted amounts applied to the proportion of work performed and determined through analysis with internal personnel and external service providers as to the progress or stage of completion of the services. In the event advance payments are made to a CRO, CMO, or outside service provider, the payments will be recorded as a prepaid asset, which will be amortized or expensed as the contracted services are performed.
General and administrative expenses	General and administrative expenses General and administrative expenses include compensation, employee benefits, and stock-based compensation for executive management, finance administration and human resources, facility costs (including rent), professional service fees, and other general overhead costs, including depreciation, to support the Company’s operations.
Income taxes	Income taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recorded for deferred tax assets if it is more likely than not that some portion or all of the deferred tax assets will not be realized in the foreseeable future. As of December 31, 2021 and 2020, the Company has recorded a full valuation allowance against its deferred tax assets. The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest related to unrecognized tax benefits in interest expense and penalties in general and administrative expenses.
Stock-based compensation	Stock-based compensation The Company measures and records the expense related to stock-based payment awards based on the fair value of those awards as determined using the Black-Scholes-Merton (“Black-Scholes”) option pricing model as of the date of grant. The Company recognizes stock-based compensation expense over the requisite service period of the individual grant, generally equal to the vesting period, on a straight-line basis. The Black-Scholes model requires the use of highly subjective and complex assumptions, which determine the fair value of stock-based awards, including the option’s expected term and the price volatility of the underlying stock. The Company estimates the fair value of options granted by using the Black-Scholes model with the following assumptions: Expected Volatility Expected Term Risk-Free Interest Rate Dividend Yield The Company has elected to recognize forfeitures as they occur.
Fair value measurements	Fair value measurements Fair value is defined as the exchange price that would be received for an asset or an exit price that would be paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company follows the established framework for measuring fair value and providing disclosures about fair value measurements. The accounting guidance classifies fair value measurements in one of the following three categories for disclosure purposes: Level 1: Quoted prices in active markets for identical assets or liabilities. Level 2: Inputs other than Level 1 prices for similar assets or liabilities that are directly or indirectly observable in the marketplace. Level 3: Unobservable inputs which are supported by little or no market activity and values determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant judgment or estimation. Accounting Standards Codification (“ASC”) 820 – Fair Value Measurement requires all entities to disclose the fair value of financial instruments, both assets and liabilities, for which it is practicable to estimate fair value, and defines the fair value of a financial instrument as the amount at which the instrument could be exchanged in a current transaction between willing parties. As of December 31, 2021 and 2020, the recorded values of cash equivalents, assets held for sale, prepaid expenses, and accounts payable and other current liabilities approximate their fair values due to the short-term nature of these items. As of December 31, 2020, the carrying value of outstanding SAFEs approximates the estimated aggregate fair value of the instruments as the valuation cap provided in the SAFEs is a reasonable approximation of the Company’s enterprise value. On August 3, 2021, the SAFEs converted into common stock of the post-Merger entity.
Recently adopted accounting pronouncements	Recently adopted accounting pronouncements In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820), – Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement, which makes a number of changes to add, modify or remove certain disclosure requirements associated with the movement amongst or hierarchy associated with Level 1, Level 2 and Level 3 fair value measurements. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company adopted ASU 2018-13 as of January 1, 2020 with no impact on the consolidated financial statements. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (“ASU 2019-12”), which simplifies the accounting for income taxes by eliminating certain exceptions to the guidance in ASC 740 related to the approach for intra-period tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The new guidance also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. The guidance is effective for fiscal years beginning after December 31, 2020 and interim periods within that year. The Company adopted ASU 2019-12 on January 1, 2021 with no impact to its consolidated financial statements or related disclosures.

GENERAL (Tables)

GENERAL (Tables)	12 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ESTIMATED FAIR VALUE OF ASSETS ACQUIRED	The following table summarizes the net assets acquired based on their estimated fair values as of August 3, 2021, immediately prior to completion of the Merger: ESTIMATED FAIR VALUE OF ASSETS ACQUIRED Cash and cash equivalents $ 16,346,622 Assets held for sale 600,000 Prepaid and other assets 129,791 Accrued liabilities (8,345,966 ) Acquired net assets $ 8,730,447

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
SCHEDULE OF ANTI-DILUTIVE SECURITIES	The following stock options and warrants were excluded from the calculation of diluted loss per share because their effect would have been anti-dilutive for the periods presented (share data): SCHEDULE OF ANTI-DILUTIVE SECURITIES For the year ended December 31, 2021 2020 Outstanding stock options 632,659 206,079 Warrants 1,876,569 -

PREPAID EXPENSES AND OTHER CU_2

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)	12 Months Ended
	Dec. 31, 2021
Prepaid Expenses And Other Current Assets
SCHEDULE OF PREPAID EXPENSE AND OTHER CURRENT ASSETS	Prepaid expenses and other current assets are comprised of the following: SCHEDULE OF PREPAID EXPENSE AND OTHER CURRENT ASSETS December 31, December 31, 2021 2020 Prepaid insurance $ 945,023 $ 6,972 Prepaid research and development 127,643 83,550 Other receivables 21,056 - Other prepaid expenses 12,931 3,978 Total prepaid expenses and other current assets $ 1,106,653 $ 94,500

ACCOUNTS PAYABLE AND OTHER CU_2

ACCOUNTS PAYABLE AND OTHER CURRENT LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2021
Payables and Accruals [Abstract]
SCHEDULE OF ACCOUNTS PAYABLE AND OTHER CURRENT LIABILITIES	Accounts payable and other current liabilities are comprised of the following: SCHEDULE OF ACCOUNTS PAYABLE AND OTHER CURRENT LIABILITIES December 31, December 31, 2021 2020 Accounts payable $ 2,637,806 $ 155,957 Accrued employee costs 1,371,136 - Accrued professional fees 139,871 63,753 Accrued research and development 135,751 171,630 Accrued board fees 125,333 - Other accrued expenses 97,779 7,025 Deposit - 200,000 Total accounts payable and other current liabilities $ 4,507,676 $ 598,365

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
SCHEDULE OF OPTIONS GRANTED TO DIRECTORS, EXECUTIVE OFFICERS AND EMPLOYEES	SCHEDULE OF OPTIONS GRANTED TO DIRECTORS, EXECUTIVE OFFICERS AND EMPLOYEES Number of options granted Exercise price Vesting period Expiration Executive officers and employees 940,000 $ 8.87 1 3 5 10 Directors 109,750 $ 8.87 1 10
SCHEDULE OF SHARE BASED COMPENSATION	A summary of the stock option activity during the year ended December 31, 2021, is presented in the table below: SCHEDULE OF SHARE BASED COMPENSATION Weighted average Shares Exercise price Remaining contractual life Intrinsic value Outstanding as of January 1, 2021 206,079 $ 2.86 8.2 $ 28,003 Granted 1,069,750 $ 8.80 $ - Options converted upon Merger 57,701 $ 237.10 $ - Exercised (125,354 ) $ 2.90 $ 434,208 Forfeited and cancelled (33,516 ) $ 58.93 $ - Outstanding as of December 31, 2021 1,174,660 $ 17.10 9.1 $ 241,103 Exercisable as of December 31, 2021 120,750 $ 83.90 6.3 $ 234,103 Vested and expected to vest December 31, 2021 1,171,423 $ 17.04 9.1 $ 241,103
SCHEDULE OF STOCK BASED COMPENSATION EXPENSES	SCHEDULE OF STOCK BASED COMPENSATION EXPENSES For the year ended For the year ended December 31, 2021 December 31, 2020 Research and development $ 387,111 $ 90,017 General and administrative 1,123,147 49,943 Total stock-based compensation expense $ 1,510,258 $ 139,960
SCHEDULE OF WEIGHTED AVERAGE INPUTS USED TO MEASURE VALUE OF OPTIONS GRANTED	SCHEDULE OF WEIGHTED AVERAGE INPUTS USED TO MEASURE VALUE OF OPTIONS GRANTED 2021 Stock price $ 8.80 Exercise price $ 8.80 Expected term 5.73 Volatility 103.3 % Risk free rate 0.7 % Dividend yield 0.0 %
SCHEDULE OF EXERCISE PRICE OF OUTSTANDING STOCK OPTIONS	The following table presents the exercise price of outstanding stock options as of December 31, 2021: SCHEDULE OF EXERCISE PRICE OF OUTSTANDING STOCK OPTIONS Exercise price Options outstanding $ 0.01 8.00 100,725 $ 8.01 16.00 1,036,000 $ 16.00 37,935 Total 1,174,660

CAPITALIZATION (Tables)

CAPITALIZATION (Tables)	12 Months Ended
	Dec. 31, 2021
Capitalization
SUMMARY OF WARRANTS OUTSTANDING WITH EXERCISE PRICE AND REMAINING CONTRACTUAL LIFE	The following table summarizes the number of warrants outstanding with exercise price and remaining contractual life as of December 31, 2021: SUMMARY OF WARRANTS OUTSTANDING WITH EXERCISE PRICE AND REMAINING CONTRACTUAL LIFE Weighted average Shares Exercise price Remaining contractual life Outstanding January 1, 2021 - - - Warrants converted upon Merger 227,150 $ 29.81 Warrants issued in the Private Placement 2,863,637 $ 11.13 Outstanding and exercisable as of December 31, 2021 3,090,787 $ 12.50 5.0

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
SUMMARY OF MINIMUM LEASE PAYMENTS	Future minimum annual lease payments under the Company’s noncancelable operating lease as of December 31, 2021 are as follows: SUMMARY OF MINIMUM LEASE PAYMENTS December 31, 2022 $ 96,465 2023 82,387 Total minimum lease payments 178,852 Less: amount representing interest (9,525 ) Present value of operating lease liability 169,327 Less: current portion (96,465 ) Operating lease liability, net of current portion $ 72,862

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
SCHEDULE OF PROVISION FOR INCOME TAXES	The Company’s provision for income taxes consisted of the following: SCHEDULE OF PROVISION FOR INCOME TAXES For the year ended December 31, 2021 2020 Computed “expected” tax expense (benefit) $ (1,619,223 ) $ (753,335 ) State taxes, net of federal benefit 44,332 (249,886 ) Non-deductible items - 16 Change in deferred tax asset valuation allowance 1,395,737 1,004,005 Stock-based compensation 171,727 - Other 9,077 - Income tax expense $ 1,650 $ 800
SCHEDULE OF NET DEFERRED TAX ASSETS	The Company’s net deferred tax assets were comprised of the following as of December 31, 2021 and 2020: SCHEDULE OF NET DEFERRED TAX ASSETS 2021 2020 Deferred tax assets: Accrual to cash $ 331,855 $ 139,034 Stock options 157,196 79,208 Property and equipment 373 10 Capitalized R&D 1,199,792 - Operating lease liabilities 35,559 - Net operating loss carryforwards 51,780,342 2,021,774 Total gross deferred tax assets 53,505,117 2,240,026 Deferred tax liabilities: Right-of-use asset (35,508 ) - Gross deferred tax liabilities (35,508 ) - Less: Deferred tax asset valuation allowance (53,469,609 ) (2,240,026 ) Total net deferred tax assets $ - $ -

ESTIMATED FAIR VALUE OF ASSETS

ESTIMATED FAIR VALUE OF ASSETS ACQUIRED (Details)	Aug. 03, 2021USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 16,346,622
Assets held for sale	600,000
Prepaid and other assets	129,791
Accrued liabilities	(8,345,966)
Acquired net assets	$ 8,730,447

GENERAL (Details Narrative)

GENERAL (Details Narrative) - USD ($)	Aug. 03, 2021	Jul. 26, 2021	Jul. 23, 2021	Dec. 31, 2021	Dec. 31, 2020
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Retained earnings accumulated deficit				$ 15,670,887	$ 7,959,501
Merger agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Common stock par value price per share	$ 0.01
Exchange Ratio in Merger Share Exchange	2.654353395
Indaptus Common stock, shares, outstanding immediately prior to the Merger	1,858,743
Decoy's Capitalization Prior to the Merger [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Number of Decoy's Common Stock prior to the merger	732,635
Common stock par value price per share	$ 0.001
[custom:NumberOfDecoysCommonStockAfterGivingAffectToConversionOfDecoysPreferredSharesIntoDecoyCommonStock]	314,928
[custom:NumberOfDecoysPreferredStockPriorToMerger]	314,928
[custom:NumberOfDecoysCommonStockAfterGivingAffectToConversionOfDecoysSafesIntoDecoyCommonStock]	288,818
Conversion of Decoy's Outstanding Shares of Common Stock [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
[custom:NumberOfDecoysOutstandingSharesOfCommonStockBeforeMerger]	1,336,381
[custom:NumberOfIndaptusSharesOfCommonStockIssuedInConversionOfDecoysOutstandingSharesOfCommonStockInMergerTransaction]	3,547,227
Conversion of Decoy's Outstanding Options [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
[custom:NumberOfDecoysOutstandingOptionsBeforeMerger]	77,639
[custom:NumberOfIndaptusStockOptionsIssuedInConversionOfDecoysOutstandingOptionsInMergerTransaction]	206,079
Shareholders Equity Post Reverse Share Split [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Stockholders' Equity, Reverse Stock Split		1-for-4
Market Capitalization amount	$ 17,900,000
Estimated fair value of net assets of Indaptus	8,700,000
Private Placement [Member] | Purchase Agreements [Member] | Indaptus [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Total net proceeds from issuance of pre-funded warrants and warrants to purchase Indaptus common stock			$ 27,300,000
[custom:IssuanceExpenses]			$ 2,700,000
[custom:NumberOfWarrantsIssuedToPlacementAgent-0]			136,364
[custom:ExercisePriceOfWarrantIssuedToPlacementAgent-0]			$ 13.75
Gross cash proceeds from private placement	$ 30,000,000

SCHEDULE OF ANTI-DILUTIVE SECUR

SCHEDULE OF ANTI-DILUTIVE SECURITIES (Details) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Equity Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	632,659	206,079
Warrant and prefunded warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	1,876,569

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2021	Nov. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Assets held for sale	$ 148,400	$ 600,000
Proceeds from sale of assets held for sale	$ 450,000
Property, Plant and Equipment [Member] | Computers and other office equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Property, Plant and Equipment [Member] | Furniture [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years

SCHEDULE OF PREPAID EXPENSE AND

SCHEDULE OF PREPAID EXPENSE AND OTHER CURRENT ASSETS (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Prepaid Expenses And Other Current Assets
Prepaid insurance	$ 945,023	$ 6,972
Prepaid research and development	127,643	83,550
Other receivables	21,056
Other prepaid expenses	12,931	3,978
Total prepaid expenses and other current assets	$ 1,106,653	$ 94,500

SCHEDULE OF ACCOUNTS PAYABLE AN

SCHEDULE OF ACCOUNTS PAYABLE AND OTHER CURRENT LIABILITIES (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Accounts payable	$ 2,637,806	$ 155,957
Accrued employee costs	1,371,136
Accrued professional fees	139,871	63,753
Accrued research and development	135,751	171,630
Accrued board fees	125,333
Other accrued expenses	97,779	7,025
Deposit		200,000
Total accounts payable and other current liabilities	$ 4,507,676	$ 598,365

SCHEDULE OF OPTIONS GRANTED TO

SCHEDULE OF OPTIONS GRANTED TO DIRECTORS, EXECUTIVE OFFICERS AND EMPLOYEES (Details) - $ / shares	Dec. 01, 2021	Aug. 04, 2021	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options granted		1,049,750	1,069,750
Executive Officers and Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options granted			940,000
Exercise price			$ 8.87
Executive Officers and Employees [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			1 year
Expiration			5 years
Executive Officers and Employees [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Expiration			10 years
Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options granted	20,000		109,750
Exercise price			$ 8.87
Vesting period			1 year
Expiration			10 years

SCHEDULE OF SHARE BASED COMPENS

SCHEDULE OF SHARE BASED COMPENSATION (Details) - USD ($)	Aug. 04, 2021	Dec. 31, 2021	Oct. 31, 2021	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Outstanding at beginning of the period				206,079
Outstanding at beginning of the period, Exercise price				$ 2.86
Outstanding at beginning of the period, Weighted average remaining contractual life				8 years 2 months 12 days
Outstanding at beginning of the period, Intrinsic value				$ 28,003
Granted	1,049,750			1,069,750
Granted, exercise price				$ 8.80
Options converted upon merger				57,701
Options converted upon merger, Exercise price				$ 237.10
Exercised		(65,018)	(60,336)	(125,354)
Exercised, exercise price				$ 2.90
Exercied, intrinsic value				$ 434,208
Forfeited and cancelled				(33,516)
Forfeited and cancelled, exercise price				$ 58.93
Outstanding at end of period		1,174,660		1,174,660
Outstanding at end of period, Exercise price		$ 17.10		$ 17.10
Outstanding at end of period, Weighted average remaining contractual life				9 years 1 month 6 days
Outstanding at end of period, intrinsic value		$ 241,103		$ 241,103
Exercisable at end of period		120,750		120,750
Exercisable at end of period, Exercise price		$ 83.90		$ 83.90
Exercisable at end of period, Weighted average remaining contractual life				6 years 3 months 18 days
Exercisable at end of period, intrinsic value		$ 234,103		$ 234,103
Vested and expected to vest		1,171,423		1,171,423
Vested and expected to vest, Exercise price		$ 17.04		$ 17.04
Vested and expected to vest, Weighted average remaining contractual life				9 years 1 month 6 days
Vested and expected to vest, intrinsic value		$ 241,103		$ 241,103

SCHEDULE OF STOCK BASED COMPENS

SCHEDULE OF STOCK BASED COMPENSATION EXPENSES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 1,510,258	$ 139,960
Research and Development Expense [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	387,111	90,017
General and Administrative Expense [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 1,123,147	$ 49,943

SCHEDULE OF WEIGHTED AVERAGE IN

SCHEDULE OF WEIGHTED AVERAGE INPUTS USED TO MEASURE VALUE OF OPTIONS GRANTED (Details)	12 Months Ended
	Dec. 31, 2021$ / shares
Share-based Payment Arrangement [Abstract]
Stock Price	$ 8.80
Exercise price	$ 8.80
Expected term	5 years 8 months 23 days
Volatility rate	103.30%
Risk free rate	0.70%
Dividend yield	0.00%

SCHEDULE OF EXERCISE PRICE OF O

SCHEDULE OF EXERCISE PRICE OF OUTSTANDING STOCK OPTIONS (Details)	12 Months Ended
	Dec. 31, 2021$ / sharesshares
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Outstanding options, number of outstanding options at the end of period | shares	1,174,660
Exercise price range One [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price range lower range limit	$ 0.01
Exercise price range lower range limit	$ 8
Outstanding options, number of outstanding options at the end of period | shares	100,725
Exercise price range two [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price range lower range limit	$ 8.01
Exercise price range lower range limit	$ 16
Outstanding options, number of outstanding options at the end of period | shares	1,036,000
Exercise price range three [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price range lower range limit	$ 16
Outstanding options, number of outstanding options at the end of period | shares	37,935

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details Narrative) - USD ($)	Dec. 01, 2021	Aug. 04, 2021	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option granted		1,049,750	1,069,750
Options exercisable price			$ 83.90
Share-based Payment Arrangement, Expense			$ 1,510,258	$ 139,960
Compensation cost not yet recognized related to unvested stock options			$ 6,000,000
Weighted-average period over which unrecognized compensation expense is expected to be recognized			1 year 10 months 24 days
Weighted average grant date fair value of options granted			$ 6.92
Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option granted	20,000		109,750
Options exercisable price	$ 5.35
Options vesting, description	vest over one year, and expire ten years after grant
2021 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant					1,864,963
Conversion of Decoy's outstanding options to Indaptus' options under 2021 Plan		206,079
Conversion of intec israels outstanding options to indaptus options		57,701

SUMMARY OF WARRANTS OUTSTANDING

SUMMARY OF WARRANTS OUTSTANDING WITH EXERCISE PRICE AND REMAINING CONTRACTUAL LIFE (Details) - Warrant [Member]	12 Months Ended
	Dec. 31, 2021$ / sharesshares
Beginning balance, Warrant Outstanding | shares
Weighted Average Exercise Price | $ / shares
Warrants converted upon Merger | shares	227,150
Warrants converted upon Merger, Exercise price | $ / shares	$ 29.81
Warrants issued in the Private Placement | shares	2,863,637
Warrants issued in the Private Placement, Exercise price | $ / shares	$ 11.13
Ending balance, Warrant Outstanding | shares	3,090,787
Weighted Average Exercise Price | $ / shares	$ 12.50
Weighted average, Remaining contractual life	5 years

CAPITALIZATION (Details Narrati

CAPITALIZATION (Details Narrative) - USD ($)	Aug. 03, 2021	Jul. 23, 2021	Dec. 31, 2021	Oct. 31, 2021	Sep. 30, 2021	Aug. 31, 2018	Dec. 31, 2021	Dec. 31, 2020
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Stock issued during period, shares, stock options exercised			65,018	60,336			125,354
Proceeds from stock options exercised			$ 182,000	$ 180,000			$ 363,058
Common stock, shares authorized			200,000,000				200,000,000	3,185,224
Common stock, shares outstanding			8,258,597				8,258,597	1,944,672
Common stock, shares issued			8,258,597				8,258,597	1,944,672
Private Placement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Number of pre-funded warrants issued		2,727,237
Number of warrants issued		2,727,237
Purchase price		$ 10.99
Pre-funded warrant, exercise price		0.01
Warrants, exercise price		$ 11
Total net proceeds from issuance of pre-funded warrants and warrants to purchase Indaptus common stock		$ 27,300,000
Issuance expenses		$ 2,700,000
Proceeds from exercise of pre-funded warrants					$ 27,273
Warrants issued to the placement agent		136,364
Exercise price of warrant issued to the placement agent		$ 13.75
Fair value of a warrant that was issued to the placement agent		$ 7.16
Conversion of intec israels warrants to indaptus warrants [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
[custom:WarrantsConvertedUponMerger]	227,150
Series seed preferred stock purchase agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Series seed preferred shares						835,928
Series seed preferred shares purchased amount						$ 6,000,000
Shares Issued, Price Per Share						$ 7.20
Simple Agreements For Future Equity [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Carrying Value of Shares Issued	$ 6,400,000							$ 1,400,000
Stock Issued During Period, Shares, Conversion of Convertible Securities	766,627

SUMMARY OF MINIMUM LEASE PAYMEN

SUMMARY OF MINIMUM LEASE PAYMENTS (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
2022	$ 96,465
2023	82,387
Total minimum lease payments	178,852
Less: amount representing interest	(9,525)
Present value of operating lease liability	169,327
Less: current portion	(96,465)
Operating lease liability, net of current portion	$ 72,862

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details Narrative)	Oct. 01, 2021USD ($)ft²	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Product Liability Contingency [Line Items]
Rental expense		$ 42,226	$ 27,554
Operating lease payments		$ 41,986	$ 27,554
CANADA | Two year lease agreement [Member]
Product Liability Contingency [Line Items]
Area of land | ft²	1,975
Base rent	$ 7,999
Rate of increase in lease rent	3.00%
Lease liability discount rate	7.00%

SCHEDULE OF PROVISION FOR INCOM

SCHEDULE OF PROVISION FOR INCOME TAXES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Computed “expected” tax expense (benefit)	$ (1,619,223)	$ (753,335)
State taxes, net of federal benefit	44,332	(249,886)
Non-deductible items		16
Change in deferred tax asset valuation allowance	1,395,737	1,004,005
Stock-based compensation	171,727
Other	9,077
Income tax expense	$ 1,650	$ 800

SCHEDULE OF NET DEFERRED TAX AS

SCHEDULE OF NET DEFERRED TAX ASSETS (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Accrual to cash	$ 331,855	$ 139,034
Stock options	157,196	79,208
Property and equipment	373	10
Capitalized R&D	1,199,792
Operating lease liabilities	35,559
Net operating loss carryforwards	51,780,342	2,021,774
Total gross deferred tax assets	53,505,117	2,240,026
Right-of-use asset	(35,508)
Gross deferred tax liabilities	(35,508)
Less: Deferred tax asset valuation allowance	(53,469,609)	(2,240,026)
Total net deferred tax assets

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Operating Loss Carryforwards [Line Items]
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	$ 51,200,000	$ 1,000,000
Income Tax Examination, Description	greater than 50% likely of being realized upon settlement
Unrecognized tax benefits, income tax penalties and interest accrued	$ 0	0
ISRAEL
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	210,900,000
Federal [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	12,500,000	7,300,000
Federal [Member] | Expire in 2036 [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	800,000
Federal [Member] | Indefinite period [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	11,700,000
State [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	7,300,000	$ 5,800,000
State [Member] | Expire in 2035 [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 7,300,000

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	Feb. 25, 2022	Feb. 01, 2022	Jan. 26, 2022	Aug. 04, 2021	Dec. 31, 2021
Subsequent Event [Line Items]
Number of options granted				1,049,750	1,069,750
Options exercisable price					$ 83.90
Subsequent Event [Member] | Executive Officer [Member]
Subsequent Event [Line Items]
Number of options granted			289,200
Options exercisable price			$ 4.90
Options expiration period			10 years
Fair value of options granted			$ 1,100,000
Subsequent Event [Member] | Chief Medical Officer [Member]
Subsequent Event [Line Items]
Number of options granted		90,000
Options exercisable price		$ 4.97
Options expiration period		10 years
Fair value of options granted		$ 360,000
Subsequent Event [Member] | Chief Financial Officer [Member]
Subsequent Event [Line Items]
Number of options granted	60,000
Options exercisable price	$ 4.18
Options expiration period	10 years
Fair value of options granted	$ 200,000