Molekule (MKULQ) 10-Q/A 7 Feb 22 2021 Q3 Quarterly report (amended) Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2021	Jan. 05, 2022
Document and Entity Information [Abstract]
Document Type	10-Q/A
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2021
Entity File Number	001-41096
Entity Registrant Name	AeroClean Technologies, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-3213164
Entity Address State Or Province	FL
Entity Address, Address Line One	10455 Riverside Dr
Entity Address, City or Town	Palm Beach Gardens
Entity Address, Postal Zip Code	33410
City Area Code	833
Local Phone Number	652-5326
Title of 12(b) Security	Common Stock, $0.01 Par Value
Trading Symbol	AERC
Security Exchange Name	NASDAQ
Entity Current Reporting Status	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		13,877,636
Entity Central Index Key	0001872356
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	true
Amendment Description	Amendment No. 1

CONDENSED BALANCE SHEETS

CONDENSED BALANCE SHEETS - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash	$ 655,780	$ 2,333,117
Accounts receivable	201,801
Prepaid expenses and other current assets	135,236	304,836
Subscription receivable		100,543
Inventories	247,041
Total current assets	1,239,858	2,738,496
Property and equipment, net	2,284,418	454,679
Deferred offering costs	939,741
Other assets	21,667
Total assets	4,485,684	3,193,175
Current liabilities:
Accounts payable	769,739	332,072
Accrued expenses and other current liabilities	872,808	333,236
Loan from related party	500,000
Total current liabilities	2,142,547	665,308
Commitments and contingencies (Note 7)
Members' equity	2,343,137	2,527,867
Total liabilities and members' equity	$ 4,485,684	$ 3,193,175

CONDENSED STATEMENTS OF OPERATI

CONDENSED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
CONDENSED STATEMENTS OF OPERATIONS
Product revenues	$ 261,299		$ 261,299
Cost of sales	147,733		147,733
Gross profit	113,566		113,566
Operating Expenses:
General and administrative	685,079	$ 484,442	2,678,689	$ 625,812
Research and development	956,499	812,950	3,617,101	1,057,265
Total operating expenses	1,641,578	1,297,392	6,295,790	1,683,077
Net loss	$ (1,528,012)	$ (1,297,392)	$ (6,182,224)	$ (1,683,077)
Net loss per share:
Basic	$ (0.13)	$ (0.36)	$ (0.61)	$ (0.67)
Diluted	$ (0.13)	$ (0.36)	$ (0.61)	$ (0.67)
Weighted-average common shares outstanding:
Basic	11,363,636	3,557,114	10,135,506	2,506,780
Diluted	11,363,636	3,557,114	10,135,506	2,506,780

CONDENSED STATEMENTS OF CHANGES

CONDENSED STATEMENTS OF CHANGES IN MEMBERS' EQUITY (DEFICIT) - USD ($)	Class A	Accumulated Deficit	Total
Balance, beginning of the period at Dec. 31, 2019	$ 4,669,696	$ (4,900,326)	$ (230,630)
Balance, beginning of the period (in shares) at Dec. 31, 2019	2,000,000
Issuance of equity units	$ 4,081,578		4,081,578
Issuance of equity units (In shares)	4,081,578
Net loss		(1,683,077)	(1,683,077)
Balance, end of the period at Sep. 30, 2020	$ 8,751,274	(6,583,403)	2,167,871
Balance, end of the period (in shares) at Sep. 30, 2020	6,081,578
Balance, beginning of the period at Dec. 31, 2019	$ 4,669,696	(4,900,326)	(230,630)
Balance, beginning of the period (in shares) at Dec. 31, 2019	2,000,000
Net loss			(3,323,081)
Balance, end of the period at Dec. 31, 2020	$ 10,751,274	(8,223,407)	2,527,867
Balance, end of the period (in shares) at Dec. 31, 2020	8,081,578
Balance, beginning of the period at Jun. 30, 2020	$ 6,669,696	(5,286,011)	1,383,685
Balance, beginning of the period (in shares) at Jun. 30, 2020	4,000,000
Issuance of equity units	$ 2,081,578		2,081,578
Issuance of equity units (In shares)	2,081,578
Net loss		(1,297,392)	(1,297,392)
Balance, end of the period at Sep. 30, 2020	$ 8,751,274	(6,583,403)	2,167,871
Balance, end of the period (in shares) at Sep. 30, 2020	6,081,578
Balance, beginning of the period at Dec. 31, 2020	$ 10,751,274	(8,223,407)	2,527,867
Balance, beginning of the period (in shares) at Dec. 31, 2020	8,081,578
Issuance of equity units	$ 5,997,494		5,997,494
Issuance of equity units (In shares)	5,347,370
Net loss		(6,182,224)	(6,182,224)
Balance, end of the period at Sep. 30, 2021	$ 16,748,768	(14,405,631)	2,343,137
Balance, end of the period (in shares) at Sep. 30, 2021	13,428,948
Balance, beginning of the period at Jun. 30, 2021	$ 16,748,768	(12,877,619)	3,871,149
Balance, beginning of the period (in shares) at Jun. 30, 2021	13,428,948
Net loss		(1,528,012)	(1,528,012)
Balance, end of the period at Sep. 30, 2021	$ 16,748,768	$ (14,405,631)	$ 2,343,137
Balance, end of the period (in shares) at Sep. 30, 2021	13,428,948

CONDENSED STATEMENTS OF CASH FL

CONDENSED STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (6,182,224)	$ (1,683,077)
Adjustments to reconcile net loss to net cash flows used in operating activities
Depreciation and amortization	43,818	0
Equity-based compensation	924,438	62,359
Changes in operating assets and liabilities:
Accounts receivable	(201,801)
Inventories	(247,041)
Other current and non-current assets	(791,808)	(133,077)
Accounts payable	390,948	285,777
Accrued expenses and other current liabilities	539,572	212,569
Due to related parties		(25,000)
Net cash flows used in operating activities	(5,524,098)	(1,280,449)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(1,826,838)	(363,200)
Net cash flows used in investing activities	(1,826,838)	(363,200)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of equity units	5,173,599	3,957,519
Proceeds from loan from related party	500,000
Net cash flows provided by financing activities	5,673,599	3,957,519
Net increase in cash	(1,677,337)	2,313,870
Cash, beginning of period	2,333,117	796
Cash, end of period	655,780	2,314,666
Supplemental schedule of non-cash activities:
Equity units issued to related party		$ 61,700
Purchases of property and equipment in accounts payable	$ 46,716

Description of Business

Description of Business	9 Months Ended
	Sep. 30, 2021
Description of Business
Description of Business	1. Description of Business AeroClean Technologies, Inc. (“AeroClean” or the “Company”) was initially formed as CleanCo Bioscience Group LLC (“CBG”) in the State of Florida on September 2, 2011. Subsequent to its formation, CBG established a team of scientists, engineers and medical experts to provide solutions for the challenges posed by harmful airborne pathogens and resultant hospital acquired infections. On September 15, 2020, CBG converted into AeroClean Technologies, LLC as a Delaware limited liability company and is headquartered in Palm Beach Gardens, Florida. On November 23, 2021, AeroClean Technologies, LLC incorporated in the state of Delaware as AeroClean Technologies, Inc. See Note 3, Public Offering for a discussion of the Company’s recent initial public offering. AeroClean is an interior space air purification technology company with an immediate objective of initiating full-scale commercialization of its high-performance interior air sterilization and disinfection products for the eradication of coronavirus and other harmful airborne pathogens. AeroClean was established to develop technology-driven, medical-grade air purification solutions for hospitals and other healthcare settings. Going Concern and Liquidity Analysis The provisions of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 205-40, Presentation of Financial Statements — Going Concern For the year ended December 31, 2020, the Company incurred a net loss of $3,323,081 and accumulated deficit of $8,223,407 and net cash used in operating activities was $3,069,976. The Company incurred net losses of $6,182,224 during the nine months ended September 30, 2021 and had working capital and an accumulated deficit of $902,689 and $14,405,631, respectively, at September 30, 2021. The Company’s net cash used in operating activities was $5,524,098 for the nine months ended September 30, 2021. These factors raised substantial doubt about the Company’s ability to continue as a going concern. However, the Company is an early-stage company and has begun generating revenues through the commercial production and sale of its Pūrgo air purification device. The Company first shipped units to customers in July 2021 and generated revenues of $261,299 through September 30, 2021. The Company’s ability to fund its operations is dependent upon management’s plans, which include generating sufficient revenues and controlling the Company’s expenses. A failure to generate sufficient revenues or control expenses, among other factors, will adversely impact the Company’s ability to meet its financial obligations as they become due and payable and to achieve its intended business objectives. However, substantial doubt about the Company’s ability to continue as a going concern has been alleviated through an initial public offering (the “Public Offering”). On November 29, 2021, the Company completed the Public Offering resulting in aggregate gross proceeds of $25,140,000 and net proceeds of $22,000,000 after deducting underwriting fees and closing costs of approximately $3,100,000. See Note 3, Public Offering. The accumulated deficit from the inception of the Company through September 30, 2021 is substantially less than the amount raised through the Public Offering. Further, the Company’s investment into research and development, engineering and other product development costs has been decreasing following the product launch, and as discussed, the Company is now generating revenues and margins from the sale of its Pūrgo device. Operating costs associated with revenue generation can also be managed as the Company increases revenues. Accordingly, management has concluded there is no longer a substantial doubt as to the Company’s ability to continue as a going concern within one year after the date the financial statements are issued based on the Company’s operating history and outlook. 1. COVID-19 Pandemic The Company continues to monitor the outbreak of COVID-19 and its variants, including the most recent Omicron variant, which continue to spread throughout the world and adversely impact global commercial activity and contribute to significant declines and volatility in financial markets. The Company’s on-going research and development activities, including development of product prototypes and manufacturing activities, are all conducted in the United States, and as a result, the Company has been able to mitigate the adverse impact of the COVID-19 pandemic on its global supply chain. During 2020 and through the date these financial statements were available to be issued, the Company has not experienced any adverse impact on its operations and does not expect any significant disruptions in the near term. The Company continues to actively monitor the situation and may take further actions that impact operations as may be required by federal, state or local authorities or that the Company determines is in the best interests of its employees, customers, suppliers and stockholders. As of the date these financial statements were available to be issued, the pandemic presents uncertainty and risk as the Company cannot reasonably determine or predict the nature, duration or scope of the overall impact the COVID-19 pandemic will have on its business, results of operations, liquidity or capital resources.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	2. Critical accounting policies are defined as those that are reflective of significant judgments and uncertainties and potentially result in materially different results under different assumptions and conditions. The Company’s critical accounting policies are described in Note 2, Summary of Significant Accounting Policies, of the Company’s audited financial statements for the year ended December 31, 2020 included in its offering circular filed with the Securities and Exchange Commission (the “SEC”) pursuant to Rule 253(g)(1) promulgated under the Securities Act of 1933, as amended (the “Securities Act”), on November 24, 2021, except as noted below. The Company is an “emerging growth company,” as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. The Company has elected to avail itself of this exemption from new or revised accounting standards and, therefore, the financial statements may not be comparable to companies that comply with the new or revised accounting pronouncements as of the public company effective dates. The Company has reviewed recent accounting pronouncements and, with the exception of the below, concluded they are either not applicable to the business or no material effect is expected on the condensed financial statements as a result of future adoption. In June 2016, the FASB issued Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments - Credit Losses, which was subsequently amended by ASU No. 2018-19 and ASU No. 2019-10, and which requires the measurement of expected credit losses for financial instruments carried at amortized cost held at the reporting date based on historical experience, current conditions and reasonable forecasts. The updated guidance also amends the current other-than-temporary impairment model for available-for-sale debt securities by requiring the recognition of impairments relating to credit losses through an allowance account and limits the amount of credit loss to the difference between a security’s amortized cost basis and its fair value. In addition, the length of time a security has been in an unrealized loss position will no longer impact the determination of whether a credit loss exists. The main objective of this ASU is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. The standard is effective for the fiscal year beginning after December 15, 2022, or December 15, 2021 if the Company loses emerging growth company status in 2021. The Company will continue to assess the possible impact of this standard, but it currently does not expect that the adoption of this standard will have a significant impact on its financial statements and its limited history of bad debt expense relating to trade accounts receivable. 2. Basis of Presentation These unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the rules and regulations of the SEC. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The balance sheet as of December 31, 2020 has been derived from audited financial statements at such date. All adjustments that, in the opinion of the Company’s management, are considered necessary for a fair presentation of the results of operations for the periods shown have been reflected in these unaudited condensed financial statements. The results of operations for the periods presented are not necessarily indicative of the results expected for the full fiscal year 2021 or for any future period. The information included in these unaudited condensed financial statements should be read in conjunction with the Company’s audited financial statements and accompanying notes. Use of Estimates The preparation of the Company’s financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and expenses and related disclosure of contingent assets and liabilities. Significant estimates in these financial statements include those related to the fair value of equity-based compensation and management’s assessment of the Company’s ability to continue as a going concern, which involves the estimation of the amount and timing of future cash inflows and outflows, specifically related to the Company’s ability to generate revenue and manage expenses. Management’s assessment of the Company’s ability to continue as a going concern involves the estimation of the amount and timing of future cash inflows and outflows. On an ongoing basis, the Company evaluates its estimates, judgments and methodologies. The Company bases its estimates on historical experience and on various other assumptions believed to be reasonable. Due to the inherent uncertainty involved in making estimates, actual results could differ materially from those estimates. Certain accounting policies involve judgments and uncertainties to such an extent that there is a reasonable likelihood that materially different amounts could have been reported under different conditions or if different assumptions had been used. The Company evaluates its estimates and assumptions on a regular basis. The Company bases its estimates on historical experience, if applicable, and various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from these estimates and assumptions used in preparation of the financial statements. Revenue Recognition The Company recognizes revenues related to sales of products upon the customer obtaining control of promised goods, in an amount that reflects the consideration that is expected to be received in exchange for those goods. To determine revenue recognition for arrangements within the scope of ASC Topic 606, Revenue from Contracts with Customers ( Accounts Receivable, Net An allowance for uncollectible accounts receivable is recorded when management believes the collectability of the accounts receivable is confirmed. Subsequent recoveries, if any, are credited to the allowance. The allowance is determined based on management’s review of the debtor’s ability to repay and repayment history, aging history and estimated value of collateral, if any. 2. Summary of Significant Accounting Policies (Continued) Inventories The Company values inventories at the lower of cost or net realizable value using the first-in, first-out or weighted average cost method. Net realizable value is the estimated selling price in the ordinary course of business, less reasonable predictable costs of completion, disposal and transportation. Inventories on hand at September 30, 2021 consisted primarily of spare parts.

Public Offering

Public Offering	9 Months Ended
	Sep. 30, 2021
Public Offering
Public Offering	3. On November 29, 2021, the Company completed the Public Offering of 2,514,000 shares of its common stock, which included the partial exercise of the underwriters’ overallotment option, at a public offering price of $10.00 per share for aggregate gross proceeds of $25,140,000 and net proceeds of approximately $22,000,000 after deducting underwriting fees and closing costs of approximately $3,100,000. Also, the Company issued purchase options to the underwriters exercisable for 5.0% of the shares of common stock issued as part of the Public Offering at an exercise price of $12.50 per share. The Company’s common stock is listed on The Nasdaq Capital Market under the symbol “AERC”. In connection with the Public Offering, on November 23, 2021, the Company converted from a Delaware limited liability company into a Delaware corporation (the “Corporate Conversion”) and changed its name to AeroClean Technologies, Inc. In connection with the Corporate Conversion, the outstanding member units of 13,428,948 were converted into 11,363,636 shares of common stock at a conversion ratio of 0.8462. The Corporate Conversion has been adjusted retroactively for the purposes of calculating basis and diluted earnings per share. The Company’s certificate of incorporation authorizes 110,000,000 shares of common stock and 11,000,000 of shares preferred stock.

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	9 Months Ended
	Sep. 30, 2021
Prepaid Expenses and Other Current Assets
Prepaid Expenses and Other Current Assets	4. Prepaid expenses and other current assets consist primarily of amounts paid to suppliers and vendors for inventories and retainers for engineering, product development, testing and other services to be performed. Prepaid expenses and other current assets were $135,236 and $304,836 at September 30, 2021 and December 31, 2020, respectively.

Property and Equipment

Property and Equipment	9 Months Ended
	Sep. 30, 2021
Property and Equipment
Property and Equipment	5. Property and equipment consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Useful Life September 30, December 31, ​ ​ (Years) ​ 2021 ​ 2020 Leasehold improvements Lesser of useful life or lease term ​ $ 847,217 ​ $ — Machinery and tooling 7 ​ 1,249,031 ​ 454,679 Furniture and equipment 3-10 ​ 231,988 ​ — ​ ​ ​ ​ 2,328,236 ​ 454,679 Less accumulated depreciation ​ ​ ​ 43,818 ​ — ​ ​ ​ ​ $ 2,284,418 ​ $ 454,679 ​ Property and equipment are stated at cost and depreciated generally under the straight-line method over their estimated useful lives (or the lesser of the term of the lease for leasehold improvements, as appropriate), except for tooling, which is depreciated utilizing the units-of-production method. Depreciation expense was $35,842 and $0 and $43,818 and $0 for the three and nine months ended September 30, 2021 and 2020, respectively.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	9 Months Ended
	Sep. 30, 2021
Accrued Expenses and Other Current Liabilities
Accrued Expenses and Other Current Liabilities	6. Accrued Expenses and Other Current Liabilities ​ Accrued expenses and other current liabilities consisted of the following as of: ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, December 31, ​ ​ 2021 ​ 2020 Research and development ​ $ 62,343 ​ $ 271,800 Professional and consulting fees ​ 42,036 ​ 33,345 Legal public offering fees ​ 743,460 ​ 10,000 Customer advance deposits ​ — ​ 6,000 Other accrued liabilities ​ 24,969 ​ 12,091 Total accrued expenses and other current liabilities ​ $ 872,808 ​ $ 333,236 ​

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies.
Commitments and Contingencies	7. Commitments and Contingencies ​ Lease Commitments Legal Proceedings Indemnities, Commitments and Guarantees

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2021
Related Party Transactions
Related Party Transactions	8. Related Party Transactions ​ Bridge Loans –

Members' Equity

Members' Equity	9 Months Ended
	Sep. 30, 2021
Members' Equity.
Members' Equity	9. Members’ Equity Members’ Units Prior to the completion of the Public Offering (See Note 3, Public Offering), the Board was authorized to issue Class A Units (“Units”), which entitled unitholders to allocations of profits and losses and other items and distributions of cash and other property as was set forth in the Company’s operating agreement, as amended. The Board had the right at any time and from time to time to authorize and cause the Company to create and/or issue equity securities to any person, in which event, all units of a class, group or series would have been diluted in an equal manner as to the other units of such class, group or series, and the Board had the power to amend the operating agreement to allow for such additional issuances and dilution and to make any such other amendments necessary or desirable to reflect such issuances. The holder of each Unit had the right to one vote per Unit on all matters to be voted on by the Members. At December 31, 2020, the Company recorded a subscription receivable for $100,543 relating to the purchase of Units in December 2020 for which cash was received in February of 2021. In May 2020, the Board approved an action to effectuate a reverse stock split of the Units, which reduced each unit holder’s number of Units on a pro-rata basis. Each unit holder’s proportional voting power remained unchanged, and the rights and privileges of the holders of Units were substantially unaffected by the reverse stock split. The number of Units outstanding and footnotes have been adjusted to reflect the aforementioned reverse stock split. Between January 1, 2021 and September 30, 2021, the Company sold an additional 5,073,056 Units to existing members resulting in gross proceeds of $5,073,056. Effective April 1, 2021, the Board approved the issuance of an aggregate of 274,314 Units, of which 140,085 Units were issued to independent contractors and 134,229 Units were issued to Board members as compensation for services provided. Certain of the Units were issued to independent contractors as consideration for services pursuant to existing agreements, which provided for payment of fifty percent in cash and fifty percent in equity (See Note 7, Commitments and Contingencies). The subscription agreements issued to the contractors included a provision that no payments for services rendered after March 31, 2021 will be in the form of equity. Equity-based compensation expense of $924,438 was recognized and is included in general and administrative expenses in the Company’s statement of operations for the nine-month period ended September 30, 2021. The fair value of $3.37 for each Unit was determined utilizing the income-based approach, which relies on the discounted cash flow method and considers future cash flows discounted at an appropriate discount rate, or weighted average cost of capital. The discounted cash flow method is affected by assumptions regarding complex and subjective variables, including future levels of revenue growth, operating margins and working capital needs as well as the weighted average cost of capital, which was determined by evaluating the rates of return required for other companies of a similar size and stage of development.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2021
Subsequent Events
Subsequent Events	10. Subsequent Events ​ The Company has evaluated subsequent events through January 7, 2022, which is the date the financial statements were available to be issued and, except as otherwise noted herein, has concluded there were no material subsequent events, except as disclosed below, that required recognition or disclosure in the financial statements. In conjunction with the Public Offering, on November 23, 2021, the Company adopted the Employee Stock Purchase Plan, the 2021 Incentive Award Plan (“Incentive Award Plan”) and the Non-Employee Directors Stock and Deferred Compensation Plan (collectively, the “Plans”). Accordingly, the Company reserved 1,802,273 shares, collectively, for issuance or sale under the Plans. On November 29, 2021, at the closing of the Public Offering, the Company granted 443,269 restricted stock units to members of management (See Note 7, Commitments and Contingencies) and 182,999 restricted stock units to members of the Board under the Incentive Award Plan.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
Summary of Significant Accounting Policies
Basis of Presentation	Basis of Presentation These unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the rules and regulations of the SEC. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The balance sheet as of December 31, 2020 has been derived from audited financial statements at such date. All adjustments that, in the opinion of the Company’s management, are considered necessary for a fair presentation of the results of operations for the periods shown have been reflected in these unaudited condensed financial statements. The results of operations for the periods presented are not necessarily indicative of the results expected for the full fiscal year 2021 or for any future period. The information included in these unaudited condensed financial statements should be read in conjunction with the Company’s audited financial statements and accompanying notes.
Use of Estimates	Use of Estimates The preparation of the Company’s financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and expenses and related disclosure of contingent assets and liabilities. Significant estimates in these financial statements include those related to the fair value of equity-based compensation and management’s assessment of the Company’s ability to continue as a going concern, which involves the estimation of the amount and timing of future cash inflows and outflows, specifically related to the Company’s ability to generate revenue and manage expenses. Management’s assessment of the Company’s ability to continue as a going concern involves the estimation of the amount and timing of future cash inflows and outflows. On an ongoing basis, the Company evaluates its estimates, judgments and methodologies. The Company bases its estimates on historical experience and on various other assumptions believed to be reasonable. Due to the inherent uncertainty involved in making estimates, actual results could differ materially from those estimates. Certain accounting policies involve judgments and uncertainties to such an extent that there is a reasonable likelihood that materially different amounts could have been reported under different conditions or if different assumptions had been used. The Company evaluates its estimates and assumptions on a regular basis. The Company bases its estimates on historical experience, if applicable, and various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from these estimates and assumptions used in preparation of the financial statements.
Revenue Recognition	Revenue Recognition The Company recognizes revenues related to sales of products upon the customer obtaining control of promised goods, in an amount that reflects the consideration that is expected to be received in exchange for those goods. To determine revenue recognition for arrangements within the scope of ASC Topic 606, Revenue from Contracts with Customers (
Accounts Receivable, Net	Accounts Receivable, Net An allowance for uncollectible accounts receivable is recorded when management believes the collectability of the accounts receivable is confirmed. Subsequent recoveries, if any, are credited to the allowance. The allowance is determined based on management’s review of the debtor’s ability to repay and repayment history, aging history and estimated value of collateral, if any.
Inventories	Inventories The Company values inventories at the lower of cost or net realizable value using the first-in, first-out or weighted average cost method. Net realizable value is the estimated selling price in the ordinary course of business, less reasonable predictable costs of completion, disposal and transportation. Inventories on hand at September 30, 2021 consisted primarily of spare parts.

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Sep. 30, 2021
Property and Equipment
Schedule of property and equipment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Useful Life September 30, December 31, ​ ​ (Years) ​ 2021 ​ 2020 Leasehold improvements Lesser of useful life or lease term ​ $ 847,217 ​ $ — Machinery and tooling 7 ​ 1,249,031 ​ 454,679 Furniture and equipment 3-10 ​ 231,988 ​ — ​ ​ ​ ​ 2,328,236 ​ 454,679 Less accumulated depreciation ​ ​ ​ 43,818 ​ — ​ ​ ​ ​ $ 2,284,418 ​ $ 454,679

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	9 Months Ended
	Sep. 30, 2021
Accrued Expenses and Other Current Liabilities
Schedule of accrued expenses and other current liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, December 31, ​ ​ 2021 ​ 2020 Research and development ​ $ 62,343 ​ $ 271,800 Professional and consulting fees ​ 42,036 ​ 33,345 Legal public offering fees ​ 743,460 ​ 10,000 Customer advance deposits ​ — ​ 6,000 Other accrued liabilities ​ 24,969 ​ 12,091 Total accrued expenses and other current liabilities ​ $ 872,808 ​ $ 333,236

Description of Business (Detail

Description of Business (Details) - USD ($)	Nov. 29, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Description of Business
Net loss		$ (1,528,012)	$ (1,297,392)	$ (6,182,224)	$ (1,683,077)	$ (3,323,081)
Working capital		902,689		902,689
Accumulated deficit		14,405,631		14,405,631		8,223,407
Net cash used in operating activities				(5,524,098)	$ (1,280,449)	$ 3,069,976
Revenue		$ 261,299		$ 261,299
Gross proceeds from public offering	$ 25,140,000
Net proceeds from public offering	22,000,000
Underwriting fees and closing costs	$ 3,100,000

Public Offering (Details)

Public Offering (Details)	Nov. 29, 2021USD ($)$ / sharesshares	Nov. 23, 2021shares
Subsidiary, Sale of Stock [Line Items]
Gross proceeds from public offering	$ 25,140,000
Net proceeds from public offering	22,000,000
Underwriting fees and closing costs	$ 3,100,000
IPO
Subsidiary, Sale of Stock [Line Items]
Number of shares issued | shares	2,514,000
Offering price per share | $ / shares	$ 10
Gross proceeds from public offering	$ 25,140,000
Net proceeds from public offering	22,000,000
Underwriting fees and closing costs	$ 3,100,000
Percentage of common shares exercisable in the public offering under purchase options	5.00%
Exercise price | $ / shares	$ 12.50
Number of common shares issued in conversion | shares		11,363,636
Number of member units outstanding | shares		13,428,948
Conversion ratio		0.8462
Common stock, shares authorized | shares		110,000,000
Preferred stock, shares authorized | shares		11,000,000

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets	$ 135,236	$ 304,836

Property and Equipment (Details

Property and Equipment (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Property and Equipment, Net
Property and equipment, gross	$ 2,328,236		$ 2,328,236		$ 454,679
Less accumulated depreciation	43,818		43,818
Property and equipment, net	2,284,418		2,284,418		$ 454,679
Depreciation	35,842	$ 0	43,818	$ 0
Leasehold improvements
Property and Equipment, Net
Property and equipment, gross	847,217		$ 847,217
Machinery and tooling
Property, Plant and Equipment [Line Items]
Useful life (in years)			7 years		7 years
Property and Equipment, Net
Property and equipment, gross	1,249,031		$ 1,249,031		$ 454,679
Furniture and equipment
Property and Equipment, Net
Property and equipment, gross	$ 231,988		$ 231,988
Furniture and equipment | Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life (in years)			3 years		3 years
Furniture and equipment | Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life (in years)			10 years		10 years

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Accrued Expenses and Other Current Liabilities
Research and development	$ 62,343	$ 271,800
Professional and consulting fees	42,036	33,345
Legal public offering fees	743,460	10,000
Customer advance deposits		6,000
Other accrued liabilities	24,969	12,091
Total accrued expenses and other current liabilities	$ 872,808	$ 333,236

Commitments and Contingencies (

Commitments and Contingencies (Details)	Feb. 01, 2021USD ($)ft²	Sep. 30, 2021USD ($)shares	Apr. 01, 2021
Lessee, Lease, Description [Line Items]
Percentage of consideration payable in cash			50.00%
Percentage of consideration payable in equity			50.00%
IPO | Executives
Lessee, Lease, Description [Line Items]
Restricted Stock Units granted to Executives | shares		443,269
Percentage of consideration payable in cash		50.00%
Percentage of consideration payable in equity		50.00%
Gardens Bio Science Partners, LLC
Lessee, Lease, Description [Line Items]
Area of premises leased | ft²	20,000
Term of Lease contract	10 years
Annual base rent expense	$ 260,000
Escalation on Annual rent (in percentage)	2.50%
Future Minimum payments due		$ 2,740,000

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	Nov. 05, 2021	Sep. 30, 2021
Related Party Transactions
Loan from related party		$ 500,000
Prime Rate [Member]
Related Party Transactions
Basis spread (as percent)	3.00%	3.00%
Bridge Loan
Related Party Transactions
Loan from related party	$ 500,000	$ 500,000
Interest rate (as percent)	6.25%	6.25%

Members' Equity (Details)

Members' Equity (Details)	Apr. 01, 2021shares	Sep. 30, 2021USD ($)Vote$ / sharesshares	Dec. 31, 2020USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of votes per unit | Vote		1
Subscription receivable | $			$ 100,543
Number of units issued		5,073,056
Gross proceeds from units issued | $		$ 5,073,056
Number of units authorized to issue	274,314
Percentage of consideration payable in cash	50.00%
Percentage of consideration payable in equity	50.00%
Equity-based compensation expense included in general and administrative expenses | $		$ 924,438
Fair value per unit | $ / shares		$ 3.37
Board Members
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units issued	134,229
Independent Contractors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units issued	140,085

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Events [Member] - shares	Nov. 29, 2021	Nov. 23, 2021
Restricted stock units | Members of management
Subsequent Events
Granted (in shares)	443,269
Plans
Subsequent Events
Shares reserved for issuance or sale		1,802,273
Incentive Award Plan | Restricted stock units | Members of the Board
Subsequent Events
Granted (in shares)	182,999