Gaxos.ai (GXAI) 10-Q 14 Aug 23 2023 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2023	Aug. 14, 2023
Document Information Line Items
Entity Registrant Name	The NFT Gaming Company, Inc.
Trading Symbol	NFTG
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		12,072,553
Amendment Flag	false
Entity Central Index Key	0001895618
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Jun. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Shell Company	false
Entity Ex Transition Period	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-41620
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	87-3288897
Entity Address, Address Line One	101 Eisenhower Pkwy, Suite 300
Entity Address, City or Town	Roseland
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07068
City Area Code	(973)
Local Phone Number	275-7428
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes

Balance Sheets

Balance Sheets - USD ($)	Jun. 30, 2023	Dec. 31, 2022
CURRENT ASSETS:
Cash	$ 1,688,910	$ 679,781
Short-term investments, at fair value	3,529,047
Prepaid expenses and other current assets	116,612	400
Deferred offering costs		202,599
Total Current Assets	5,334,569	882,780
Intangible asset, net		58,647
TOTAL ASSETS	5,334,569	941,427
CURRENT LIABILITIES:
Accounts payable	182,428	245,011
Accrued expenses	94,549	10,683
Total Current Liabilities	276,977	255,694
Total Liabilities	276,977	255,694
Commitments and Contingencies (See Note 6)
STOCKHOLDERS’ EQUITY:
Preferred stock; par value $0.0001; 5,000,000 shares authorized; No shares issued and outstanding on June 30, 2022 and December 31, 2022
Common stock; par value $0.0001: 50,000,000 shares authorized; 12,072,553 and 10,417,846 share issued and outstanding on June 30, 2023 and December 31, 2022, respectively	1,207	1,042
Additional paid-in capital	8,742,082	2,118,118
Accumulated other comprehensive income (loss)	37,805
Accumulated deficit	(3,723,502)	(1,433,427)
Total Stockholders’ Equity	5,057,592	685,733
Total Liabilities and Stockholders’ Equity	$ 5,334,569	$ 941,427

Balance Sheets (Parentheticals)

Balance Sheets (Parentheticals) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, authorized	5,000,000	5,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, share issued	12,072,553	10,417,846
Common stock, shares outstanding	12,072,553	10,417,846

Statements of Operations and Co

Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
REVENUES
OPERATING EXPENSES:
Research and development	267,618	237,368	372,169	387,863
General and administrative	448,620	227,243	1,886,401	384,957
Impairment loss	52,363		52,363
Total Operating Expenses	768,601	464,611	2,310,933	772,820
LOSS FROM OPERATIONS	(768,601)	(464,611)	(2,310,933)	(772,820)
OTHER INCOME:
Interest income	14,557	517	20,858	888
Total other income	14,557	517	20,858	888
NET LOSS	(754,044)	(464,094)	(2,290,075)	(771,932)
COMPREHENSIVE LOSS:
Net loss	(754,044)	(464,094)	(2,290,075)	(771,932)
Other comprehensive gain:
Unrealized gain on short-term investments	19,649		37,805
Comprehensive loss	$ (734,395)	$ (464,094)	$ (2,252,270)	$ (771,932)
NET LOSS PER COMMON SHARE:
Basic and diluted (in Dollars per share)	$ (0.06)	$ (0.04)	$ (0.2)	$ (0.07)
WEIGHTED AVERAGE COMMON SHARE OUTSTANDING:
Basic and diluted (in Shares)	12,104,601	10,417,846	11,685,242	10,417,846

Statements of Operations and _2

Statements of Operations and Comprehensive Loss (Unaudited) (Parentheticals) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Diluted	$ (0.06)	$ (0.04)	$ (0.20)	$ (0.07)
Diluted (in Shares)	12,104,601	10,417,846	11,685,242	10,417,846

Statements of Changes in Stockh

Statements of Changes in Stockholders’ Equity (Unaudited) - USD ($)	Preferred Stock	Common Stock	Additional Paid-in Capital	Subscription Receivable	Accumulated Other Comprehensive Income	Accumulated Deficit	Total
Balance at Dec. 31, 2021		$ 1,042	$ 2,118,118	$ (37,500)		$ (12,255)	$ 2,069,405
Balance (in Shares) at Dec. 31, 2021		10,417,846
Proceeds from subscriptions receivable				37,500			37,500
Net loss						(307,838)	(307,838)
Balance at Mar. 31, 2022		$ 1,042	2,118,118			(320,093)	1,799,067
Balance (in Shares) at Mar. 31, 2022		10,417,846
Balance at Dec. 31, 2021		$ 1,042	2,118,118	(37,500)		(12,255)	2,069,405
Balance (in Shares) at Dec. 31, 2021		10,417,846
Net loss							(771,932)
Balance at Jun. 30, 2022		$ 1,042	2,118,118			(784,187)	1,334,973
Balance (in Shares) at Jun. 30, 2022		10,417,846
Balance at Mar. 31, 2022		$ 1,042	2,118,118			(320,093)	1,799,067
Balance (in Shares) at Mar. 31, 2022		10,417,846
Net loss						(464,094)	(464,094)
Balance at Jun. 30, 2022		$ 1,042	2,118,118			(784,187)	1,334,973
Balance (in Shares) at Jun. 30, 2022		10,417,846
Balance at Dec. 31, 2022		$ 1,042	2,118,118			(1,433,427)	685,733
Balance (in Shares) at Dec. 31, 2022		10,417,846
Common shares issued for cash		$ 168	5,755,703				5,755,871
Common shares issued for cash (in Shares)		1,686,755
Accretion of stock option expense			870,572				870,572
Accumulated other comprehensive gain - short-term investments					18,156		18,156
Net loss						(1,536,031)	(1,536,031)
Balance at Mar. 31, 2023		$ 1,210	8,744,393		18,156	(2,969,458)	5,794,301
Balance (in Shares) at Mar. 31, 2023		12,104,601
Balance at Dec. 31, 2022		$ 1,042	2,118,118			(1,433,427)	685,733
Balance (in Shares) at Dec. 31, 2022		10,417,846
Net loss							(2,290,075)
Balance at Jun. 30, 2023		$ 1,207	8,742,082		37,805	(3,723,502)	5,057,592
Balance (in Shares) at Jun. 30, 2023		12,072,553
Balance at Mar. 31, 2023		$ 1,210	8,744,393		18,156	(2,969,458)	5,794,301
Balance (in Shares) at Mar. 31, 2023		12,104,601
Purchase and cancellation of treasury stock		$ (3)	(24,238)				(24,241)
Purchase and cancellation of treasury stock (in Shares)		(32,048)
Accretion of stock option expense			21,927				21,927
Accumulated other comprehensive gain - short-term investments					19,649		19,649
Net loss						(754,044)	(754,044)
Balance at Jun. 30, 2023		$ 1,207	$ 8,742,082		$ 37,805	$ (3,723,502)	$ 5,057,592
Balance (in Shares) at Jun. 30, 2023		12,072,553

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (2,290,075)	$ (771,932)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization expense	6,284
Stock-based compensation	892,499
Impairment loss	52,363
Change in operating assets and liabilities:
Prepaid expenses and other current assets	(116,212)	(4,430)
Accounts payable	(62,583)	183,235
Accrued expenses	83,866	5,591
NET CASH USED IN OPERATING ACTIVITIES	(1,433,858)	(587,536)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of short-term investments	(3,491,242)
NET CASH USED IN INVESTING ACTIVITIES	(3,491,242)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from the sale of common stock	5,958,470
Proceeds from subscriptions receivable		37,500
Payment of deferred offering costs		(145,846)
Purchase and cancellation of treasury shares	(24,241)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	5,934,229	(108,346)
NET INCREASE (DECREASE) IN CASH	1,009,129	(695,882)
CASH, beginning of period	679,781	2,078,141
CASH, end of period	1,688,910	1,382,259
Cash paid for:
Interest
Income taxes
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Reclassification of deferred offering costs to equity	202,599
Unrealized gain on short-term investments	$ 37,805

Nature of Operations

Nature of Operations	6 Months Ended
	Jun. 30, 2023
Nature of Operations [Abstract]
NATURE OF OPERATIONS	NOTE 1 – NATURE OF OPERATIONS The NFT Gaming Company, Inc. (the “Company”) was incorporated in the state of Wyoming on October 27, 2021 (“Inception”). The Company develops, designs, acquires, and manages games that offer affordable non-fungible tokens (NFTs) for unique and exclusive features, rewards, and opportunities. In addition to developing proprietary games, the Company’s platform will onboard third-party game publishers and provide access to blockchain and NFT architecture, product experiences, exclusive content, and revenue opportunities. On March 29, 2022, the Board of Directors of the Company approved, subject to shareholder approval, a Plan of Conversion, pursuant to which the Company will convert from a corporation incorporated under the laws of the State of Wyoming to a corporation incorporated under the laws of the State of Delaware (the “Reincorporation”), and such approval includes the adoption of the Certificate of Incorporation (the “Delaware Certificate”) and the Bylaws (the “Delaware Bylaws”) for the Company under the laws of the State of Delaware, under the name, “The NFT Gaming Company, Inc.,” to become effective with the effectiveness of the Reincorporation. On March 29, 2022, we received majority shareholder approval. On March 30, 2022, the Company completed the Reincorporation by filing the Delaware Certificate with the State of Delaware. On September 7, 2022, a majority of the Company shareholders granted discretionary authority to the Company’s Board of Directors to amend the Company’s Certificate of Incorporation to effect one or more consolidations of the Company’s issued and outstanding shares of common stock, pursuant to which the shares of common stock would be combined and reclassified into on the basis of one share of common stock for each 1.33 shares of the Company’s common stock then issued and outstanding (the “Reverse Stock Split”). On November 4, 2022, the Company filed a Certificate of Amendment to the Amended and Restated Articles of Incorporation (the “Certificate of Amendment”) with the Secretary of State of the State of Delaware to effect a 1-for-1.33 Reverse Stock Split with respect to the outstanding shares of the Company’s common stock. The Certificate of Amendment became effective on November 4, 2022. The Reverse Stock Split was deemed effective at the open of business on November 4, 2022. All share and per share data in the accompanying financial statements have been retroactively adjusted to reflect the effect of the reverse stock split. Liquidity The accompanying financial statements have been prepared on the basis of continuity of operations, realization of assets and the satisfaction of liabilities and commitments in the ordinary course of business. Liquidity is the ability of a company to generate funds to support its current and future operations, satisfy its obligations, and otherwise operate on an ongoing basis. On June 30, 2023, the Company had a cash balance of $1,688,910, had short-term investments of $3,529,047, and had working capital of $5,057,592. On February 17, 2023, the Company completed an initial public offering (“IPO”) and sold 1,686,755 shares of its common stock at a price to the public of $4.15 per share for gross proceeds of $7,000,000. The Company received net proceeds of $5,958,470 which is net of offering related expenses paid with proceeds of $1,041,530. The Company also reclassified $202,559 of deferred offering costs as of December 31, 2022 to additional paid in capital upon completing the IPO which resulted in total net proceeds, after equity issuance costs, of $5,755,871. During the six months ended June 30, 2023, the Company used net cash in operations of $1,433,858 and purchased liquid short-term investments of $3,491,242. Until such time that the Company implements its growth strategy, it expects to continue to generate operating losses in the foreseeable future, mostly due to corporate overhead and costs of being a public company. The Company believes that its existing working capital and cash on hand will provide sufficient cash to enable the Company to meet its operating needs and debt requirements for the next twelve months from the issuance date of this report.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Summary of Significant Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation This summary of significant account policies of the Company is presented to assist in understanding the Company’s financial statements. The financial statements and the notes are the representation of the Company’s management, who are responsible for their integrity and objectivity. These accounting policies conform to U.S. generally accepted accounting principles (“US GAAP”) and have been consistently applied in the preparation of the financial statements. Management acknowledges its responsibility for the preparation of the accompanying unaudited financial statements which reflect all adjustments, consisting of normal recurring and non-recurring adjustments, considered necessary in its opinion for a fair statement of its financial position and the results of its operations for the periods presented. The accompanying unaudited financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (the “U.S. GAAP”) for interim financial information and with the instructions Article 8-03 of Regulation S-X. Operating results for interim periods are not necessarily indicative of results that may be expected for the fiscal year as a whole. Certain information and note disclosure normally included in financial statements prepared in accordance with U.S. GAAP has been condensed or omitted from these statements pursuant to such accounting principles and, accordingly, they do not include all the information and notes necessary for comprehensive financial statements. These unaudited financial statements should be read in conjunction with the summary of significant accounting policies and notes to the consolidated financial statements for the year ended December 31, 2022 included in the Company’s Annual Report on Form 10-K as filed with the Securities and Exchange Commission on March 31, 2023. Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates in the accompanying financial statements include valuation of intangible assets, estimates of deferred tax valuation allowances and the fair value of stock options issued for services. Fair Value Measurements and Fair Value of Financial Instruments The Company analyzes all financial instruments with features of both liabilities and equity under the Financial Accounting Standard Board’s (the “FASB”) accounting standard for such instruments. Under this standard, financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company identified the following assets or liabilities that are required to be presented on the balance sheet at fair value in accordance with Accounting Standards Codification (“ASC”) Topic 820. The following table represents the Company’s fair value hierarchy of its financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2023 and December 31, 2022. June 30, 2023 December 31, 2022 Description Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Short-term investments $ 3,529,047 $ - $ - $ - $ - $ - The Company’s short-term investments are level 1 measurements and are based on redemption value at each date. The carrying amounts reported in the balance sheets for cash, prepaid expenses and other current assets, deferred offering costs, accounts payable, and accrued expenses approximate their fair market value based on the short-term maturity of these instruments. Cash and Cash Equivalents For purposes of the statements of cash flows, the Company considers all highly liquid instruments with a maturity of three months or less at the purchase date and money market accounts to be cash equivalents. The Company has no cash equivalents as of June 30, 2023 and December 31, 2022. The Company’s cash is held at major commercial banks, which may at times exceed the Federal Deposit Insurance Corporation (“FDIC”) limit. To date, the Company has not experienced any losses on its invested cash. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows. On June 30, 2023, the Company had approximately $1,171,000 of cash in excess of FDIC limits of $250,000. Short-Term Investments The Company’s portfolio of short-term investments consists of marketable debt securities which are comprised solely of rated U.S. government securities with maturities of more than three months, but less than one year. The Company classifies these as available-for-sale at purchase date and will reevaluate such designation at each period end date. The Company may sell these marketable debt securities prior to their stated maturities depending upon changing liquidity requirements. These debt securities are classified as current assets in the consolidated balance sheet and recorded at fair value, with unrealized gains or losses included in accumulated other comprehensive income (loss) on the balance sheet and as a component of the consolidated statements of comprehensive loss. Gains and losses are recognized when realized. Gains and losses are determined using the specific identification method and are reported in other income (expense), net in the consolidated statements of operations. An impairment loss may be recognized when the decline in fair value of the debt securities is determined to be other-than-temporary. The Company evaluates its investments for other-than-temporary declines in fair value below the cost basis each quarter, or whenever events or changes in circumstances indicate that the cost basis of the short-term investments may not be recoverable. The evaluation is based on a number of factors, including the length of time and the extent to which the fair value has been below the cost basis, as well as adverse conditions related specifically to the security, such as any changes to the credit rating of the security and the intent to sell or whether the Company will more likely than not be required to sell the security before recovery of its amortized cost basis. The Company recorded $19,649 and $37,805 of unrealized gains as a component of other comprehensive loss for the three and six months ended June 30, 2023. The Company did not recognize any gains or losses on short-term investments for the six months ended June 30, 2022. Accounting for Digital Currencies and Other Digital Assets The Company accounts for digital currencies and other digital assets as indefinite-lived intangible assets and accounts for them at historical cost in accordance with ASC 350, Intangibles — Goodwill and Other. Indefinite-lived intangible assets are not subject to amortization but rather evaluated for impairment annually and more frequently, if events or circumstances change that indicate that it is more likely than not that the asset is impaired (i.e., if an impairment indicator exists). As a result, the Company only recognizes decreases in the value of its digital currencies and other digital assets, and any increase in value will be recognized only upon disposition. The Company plans to dispose of cryptocurrency received as a form of payment into fiat currency and anticipates ownership of cryptocurrency to be minimal. The Company held no such indefinite-lived intangible assets as of June 30, 2023 and December 31, 2022. Capitalized Software Costs Costs incurred to develop internal-use software, including game development, are expensed as incurred during the preliminary project stage. Internal-use software development costs are capitalized during the application development stage, which is after: (i) the preliminary project stage is completed; and (ii) management authorizes and commits to funding the project and it is probable the project will be completed and used to perform the function intended. Capitalization ceases at the point the software project is substantially complete and ready for its intended use, and after all substantial testing is completed. Upgrades and enhancements are capitalized if it is probable that those expenditures will result in additional functionality. Amortization is provided for on a straight-line basis over the expected useful life of the internal-use software development costs and related upgrades and enhancements. When existing software is replaced with new software, the unamortized costs of the old software are expensed when the new software is ready for its intended use. Through June 30, 2023, no development costs have been capitalized. Intangible Assets Intangible assets, consisting of software and technology licenses, are carried at cost less accumulated amortization, computed using the straight-line method over the estimated useful life of 5 years, less any impairment charges. During the six months ended June 30, 2023, the Company recorded an impairment loss of $52,363 (see Note 4). Income Taxes Deferred income taxes are provided using the liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carryforwards, and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of the changes in tax laws and rates of the date of enactment. When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the accompanying balance sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination. Applicable interest and penalties associated with unrecognized tax benefits are classified as additional income taxes in the statements of operations. Revenue Recognition The Company follows Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606”). This standard establishes a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most of the existing revenue recognition guidance. ASC 606 requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services and also requires certain additional disclosures. The Company plans to generate revenue from the following sources: ● We plan to generate revenue from the sale of our in-game NFTs to our customers via our platform. Revenue generated from such sales, either directly as a sale of our in-game NFTs or indirectly as commission, will be recognized upon delivery of the in-game NFT to the customer, which is when the Company completes its sole performance obligation. We will sell our in-game NFTs for a fixed US dollar price (USD). Through a third-party payment service provider, the customer will have the option to pay for the NFT by using digital currencies, which includes Bitcoin or Ethereum. If payment is made in digital currency, the customer will send the USD equivalent amount of the digital currency to our custodial wallet via a third-party payment service provider, and revenue will be recorded using the fixed US dollar transaction price charged for the NFT. Upon conversion of the digital currency to USD, we will recognize a gain or loss equal to the difference between the fixed USD transaction price that we charged, and the amount of USD received at the time of conversion. See Accounting for Digital Currencies and Other Digital Assets ● The Company plans to generate revenue from advertising fees paid by game advertisers, developers, hardware companies, or other strategic partners to the Company for promotion on our platform. Revenues from these fees will be recognized ratably over the agreed upon advertising service period and upon delivery of agreed upon advertising services. ● We plan to generate royalty revenues when a third party sells one of our NFTs on a third-party platform. We will recognize royalty revenue when it is probable that we will collect the royalty fee owed which is typically when we receive notification from the third-party platform that an NFT has been sold. In the instance where the Company will receive royalty payments when a customer disposes of an in-game NFT in the secondary market on a third-party platform or any other payment that is not in fiat currency, the Company will recognize the revenue in accordance with ASC 606-10-32-21, Noncash Consideration. Fair value of the non-cash consideration received shall be determined by using the quoted price for such non-cash consideration on the date of the transaction. ● When a third-party publisher sells an NFT created using our platform via our smart contracts, we will receive a commission. Since they would use our same smart contract, the delivery and performance obligations are simultaneous with payment. We will recognize commission revenue upon delivery of the NFTs. ● We will generate transaction fee revenues from our customers which shall equal the network fees charged by the Polygon blockchain at the time of minting. Fees incurred by us, including Polygon Network (MATIC) and other NFT transaction costs, will be netted against such transaction fee revenues and transaction fees revenue will be reflected net of the related expenses. Currently, transaction fees are negligible. Transaction fee revenues and related costs shall be recognized on the date of the respective transaction. Each type of revenue source will be specifically identifiable and revenue shall be recognized based on our respective revenue recognition policy. We will not generate variable revenues under NFT contracts because our NFTs are priced in USD. All revenues generated by the Company shall be recognized in accordance with ASC Topic 606, “Revenue from Contracts with Customers.” Research and Development Research and development costs incurred in the development of the Company’s products are expensed as incurred and include costs such as labor and outside development costs, software license fees, materials, and other allocated costs incurred. Net Loss per Share The Company computes net loss per share in accordance with ASC 260-10, “Earnings Per Share.” “as if converted” Pursuant to ASC 260-10-45, basic loss per common share is computed by dividing net loss attributable to common stockholders by the weighted average number of shares of common stock outstanding for the period presented. Diluted loss per share is computed by dividing net loss attributable to common stockholders by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during the period. The following were excluded from the computation of diluted shares outstanding as they would have had an anti-dilutive impact on the Company’s net loss. June 30, 2023 2022 Common stock equivalents: Warrants 1,686,747 - Stock options 460,000 - Total 2,146,747 - Recent Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

Short-Term Investments

Short-Term Investments	6 Months Ended
	Jun. 30, 2023
Short-Term Investments [Abstract]
SHORT-TERM INVESTMENTS	NOTE 3 – SHORT-TERM INVESTMENTS On June 30, 2023, the Company’s short-term investments consisted of the following: Cost Unrealized Fair Value US Treasury bills $ 3,491,242 $ 37,805 $ 3,529,047 Total short-term investments $ 3,491,242 $ 37,805 $ 3,529,047

Intangible Asset

Intangible Asset	6 Months Ended
	Jun. 30, 2023
Intangible Assets [Abstract]
INTANGIBLE ASSET	NOTE 4 — INTANGIBLE ASSET On June 30, 2023 and December 31, 2022, intangible asset consisted of the following: Useful life June 30, December 31, License 5 years $ - $ 62,836 Less: accumulated amortization - (4,189 ) $ - $ 58,647 On August 29, 2022, the Company entered into a Software and Patent License Agreement (the “License Agreement”) with Columbia University (“Columbia”), whereby the Company obtained a license from Columbia with respect to software and intellectual property rights and patents. In connection with the License Agreement, Columbia granted to the Company a royalty-bearing, exclusive, worldwide, non-transferable license under the licensed software and licensed patents, as defined in the License Agreement, to discover, develop, manufacture, have made, use, sell, offer to sell, have sold, import, export, distribute, rent or lease licensed products and copy, use, modify, and create derivative works from licensed software and technical information during the term of the License Agreement. The licensed documentation, licensed software, and licensed patents will be used facilitate a “certificate of authentication” capability for image and video assets to prevent fraudulent activity. This will allow us to certify the image is unaltered in an externally available and trusted way and for a chain-of-trust architecture to be implemented within our system. The technology will also allow us to add an extra validation layer as well as track manipulation of our NFT assets. This will further provide increased trust in our gaming partners to use our platform and provide additional validation and control of third-party assets integrated into our platform. In consideration of the Licenses granted under this License Agreement, the Company paid or was to pay to Columbia fees and royalties as follows: 1) License Fee: A non-refundable, non-recoverable and non-creditable license fee in the sum of $25,000 was paid to Columbia within 30 days of the effective date of August 29, 2022; 2) Revenue-based Milestone Payments including non-refundable, nonrecoverable and non-creditable milestone payments; 3) Royalties: Non-refundable, non-recoverable and non-creditable running royalty on all Licensed Products that are Sold by Company, its Affiliates and Sublicenses, or as otherwise used in to generate Gross Revenue during the term of this Agreement: 4) Fees and expenses: In connection with the License, the Company paid Columbia $30,704 to cover and expenses and paid professional fees of $7,132. These fees and expenses were capitalized into intangible assets on the accompany balance sheets. 5) Win-State Payments: In the event of the Company’s success results in significant shareholder value appreciation after as Initial Financing (“Initial Financing” being the first bona fide equity financing of the Company after the Effective Date that results in gross proceeds to the Company of at least $500,000), the Company will make a number of valuation dependent Win-State Payments” to Columbia in connection with a financing or sale (each such transaction a ‘Transaction”). On August 9, 2023 and effective August 1, 2023, the Company and Columbia University agreed to the termination of the Software and Patent License Agreement between the Company and The Trustees of Columbia University in the City of New York, dated August 29, 2022. Accordingly, as of June 30, 2023, the Company wrote of the remaining unamortized book value of the intangible asset of $52,363, and during the six months ended June 30, 2023, recorded an impairment loss of $52,363, which is included in operating expenses on the accompany statement of operations and comprehensive loss. For the six months ended June 30, 2023, amortization of intangible assets amounted to $6,284.

Stockholders_ Equity

Stockholders’ Equity	6 Months Ended
	Jun. 30, 2023
Stockholders’ Equity [Abstract]
STOCKHOLDERS' EQUITY	NOTE 5 - STOCKHOLDERS’ EQUITY Preferred Stock The Company is authorized to issue 5,000,000 shares of its $0.0001 par value preferred stock. The Company’s board of directors will have the authority to fix and determine the relative rights and preferences of preferred shares, as well as the authority to issue such shares, without further stockholder approval. As of June 30, 2023 and December 31, 2022, no Common Stock Subscriptions receivable of $37,500 were collected in January 2022. 2023 Stock Repurchase Plan On March 20, 2023, the Board of Directors of the Company approved a stock repurchase program authorizing the purchase of up to $500,000 of the Company’s common stock until December 31, 2023 (the “2023 Stock Repurchase Program”). In connection with the 2023 Stock Repurchase Program, during the six months ended June 30, 2023, the Company purchased and cancelled 32,048 shares of its common stock for $24,241, or at an average price of $0.756 per share. Initial Public Offering On February 17, 2023, the Company completed the IPO and sold 1,686,755 shares of its common stock at a price to the public of $4.15 per share for gross proceeds of $7,000,000. The Company received net proceeds of $5,958,470 which is net of offering expenses of $1,041,530. Additionally, the Company reclassified deferred offering costs of $202,599 which were paid and deferred as of December 31, 2022 to additional paid in capital as equity issuance costs. In connection with the IPO, the Company issued 1,686,747 warrants to the placement agent. The warrants are exercisable at $4.565 per share and expire on February 14, 2028. The fair value of these warrant of $3,657,258 was estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions: dividend yield of 0%; expected volatility of 69.8%; risk-free interest rate of 4.03%; and an estimated holding period of 5 years. These warrants had no financial statement impact as they were considered to be equity issuance costs. 2022 Equity Incentive Plan On March 30, 2022, the Company’s Board of Directors authorized and adopted the 2022 Equity Incentive Plan (the “2022 Plan”) and reserved 2,500,000 shares of common stock for issuance thereunder. The 2022 Plan was approved by shareholders on March 30, 2022. The 2022 Plan’s purpose is to encourage ownership in the Company by employees, officers, directors and consultants whose long-term service the Company considers essential to its continued progress and, thereby, encourage recipients to act in the stockholders’ interest and share in the Company’s success. The 2022 Plan provides for the issuance of incentive stock options, non-statutory stock options, stock appreciation rights (“SARs”), restricted stock, restricted stock units (“RSUs”), and other stock-based awards. Stock Options On February 14, 2023, the Company granted aggregate stock options to purchase 400,000 of the Company’s common stock at an exercise price of $4.15 per share to the Company’s chief executive officer, an executive officer, and employee and consultants pursuant to the 2022 Equity Incentive Plan. The grant date of the stock options was February 14, 2023 and the options expire on February 14, 2033. The options vest as to (i) 340,000 of such options on February 14, 2023; and (ii) the remaining 60,000 options vest quarterly (5,000 each quarter) beginning on May 14, 2023 and each quarter thereafter through February 14, 2026. The stock options were valued at $1,023,290 on the grant date using a Black-Scholes option pricing model which will be recognized as stock-based compensation expense over the vesting period. On March 6, 2023, the Company granted stock options to purchase 60,000 of the Company’s common stock at an exercise price of $4.15 per share to the Company’s board of directors pursuant to the 2022 Equity Incentive Plan. The grant date of the stock options was March 6, 2023 and the options expire on March 6, 2028. The options vest on the one-year anniversary of the stock option grant on March 6, 2024. The stock options were valued at the grant date using a Black-Scholes option pricing model which will be recognized as stock-based compensation expense over the vesting period. The stock options were valued at $33,972 on the grant date using a Black-Scholes option pricing model which will be recognized as stock-based compensation expense over the vesting period. The stock options were valued at the grant date using a Black-Scholes option pricing model with the following assumptions: risk-free interest rates ranging from 3.95% to 4.0%, expected dividend yield of 0%, expected option term of three to six years using the simplified method, and expected volatilities ranging from 68.8% to 71.6% based on the calculated volatility of comparable companies. During the six months ended June 30, 2023, the Company recognized total stock-based expenses related to stock options of $892,499 which has been reflected in general and administrative expenses on the unaudited statements of operations and comprehensive loss. A balance of $164,762 remains to be expensed over future vesting periods related to unvested stock options issued for services to be expensed over a weighted average period of 2.44 years. Number of Weighted Weighted Balance on December 31, 2022 - $ - - Granted 460,000 4.15 - Balance on June 30, 2023 460,000 $ 4.15 8.99 Options exercisable on June 30, 2023 345,000 $ 4.15 9.64 Weighted average fair value of options granted during the period - $ 2.30 - On June 30, 2023, the aggregate intrinsic value of options outstanding was $0. Stock Warrants In connection with the IPO, the Company issued 1,686,747 fully vested warrants to the placement agent. The warrants are exercisable at $4.565 per share and expire on February 14, 2028. The warrants were considered equity issuance costs; therefore, there was no financial statement impact for the grant during the six months ended June 30, 2023. Warrant activity for the six months ended June 30, 2023 are summarized as follows: Number of Warrants Weighted Average Exercise Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Balance Outstanding, December 31, 2022 - $ - - - Granted 1,686,747 4.565 - - Balance Outstanding, June 30, 2023 1,686,747 $ 4.565 4.63 - Exercisable, June 30, 2023 1,686,747 $ 4.565 4.63 -

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 6 – COMMITMENTS AND CONTINGENCIES Employment Agreement On February 17, 2023, the Company entered into an executive employment agreement with Vadim Mats, the Company’s Chief Executive Officer (CEO) in connection with the Company’s initial public offering (the “ IPO License Agreement See Note 4 for commitments with Columbia University pursuant to a License Agreement.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 7 – SUBSEQUENT EVENTS NASDAQ Notice On July 10, 2023, the Company received written notice from Nasdaq that the Company was not in compliance with Nasdaq Listing Rule 5550(a)(2), as the minimum bid price of our common stock had been below $1.00 per share for 30 consecutive business days. In accordance with Nasdaq Listing Rule 5810, the Company has a period of 180 calendar days, or until January 6, 2024, to regain compliance with the minimum bid price requirement. To regain compliance, the closing bid price of the Company’s common stock must meet or exceed $1.00 per share for at least 10 consecutive business days during this 180-calendar day period. In the event the Company does not regain compliance by January 6, 2024, the Company may be eligible for an additional 180 calendar day grace period if it meets the continued listing standards, with the exception of bid price, for The Nasdaq Capital Market, and the Company provides written notice to Nasdaq of its intention to cure the deficiency during the second compliance period. If the Company does not qualify for or fails to regain compliance during the second compliance period, then Nasdaq will notify the Company of its determination to delist its Common Stock, at which point the Company would have an option to appeal the delisting determination to a Nasdaq hearings panel. The Company intends to actively monitor the closing bid price of its Common Stock and may, if appropriate, consider implementing available options to regain compliance with the minimum bid price under the Nasdaq Listing Rules. Cancellation of License Agreement with Columbia On August 9, 2023, the Company and Columbia University agreed to the termination of the Software and Patent License Agreement between the Company and The Trustees of Columbia University in the City of New York, dated August 29, 2022 (see Note 4).

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	6 Months Ended
	Jun. 30, 2023
Summary of Significant Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation This summary of significant account policies of the Company is presented to assist in understanding the Company’s financial statements. The financial statements and the notes are the representation of the Company’s management, who are responsible for their integrity and objectivity. These accounting policies conform to U.S. generally accepted accounting principles (“US GAAP”) and have been consistently applied in the preparation of the financial statements. Management acknowledges its responsibility for the preparation of the accompanying unaudited financial statements which reflect all adjustments, consisting of normal recurring and non-recurring adjustments, considered necessary in its opinion for a fair statement of its financial position and the results of its operations for the periods presented. The accompanying unaudited financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (the “U.S. GAAP”) for interim financial information and with the instructions Article 8-03 of Regulation S-X. Operating results for interim periods are not necessarily indicative of results that may be expected for the fiscal year as a whole. Certain information and note disclosure normally included in financial statements prepared in accordance with U.S. GAAP has been condensed or omitted from these statements pursuant to such accounting principles and, accordingly, they do not include all the information and notes necessary for comprehensive financial statements. These unaudited financial statements should be read in conjunction with the summary of significant accounting policies and notes to the consolidated financial statements for the year ended December 31, 2022 included in the Company’s Annual Report on Form 10-K as filed with the Securities and Exchange Commission on March 31, 2023.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates in the accompanying financial statements include valuation of intangible assets, estimates of deferred tax valuation allowances and the fair value of stock options issued for services.
Fair Value Measurements and Fair Value of Financial Instruments	Fair Value Measurements and Fair Value of Financial Instruments The Company analyzes all financial instruments with features of both liabilities and equity under the Financial Accounting Standard Board’s (the “FASB”) accounting standard for such instruments. Under this standard, financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company identified the following assets or liabilities that are required to be presented on the balance sheet at fair value in accordance with Accounting Standards Codification (“ASC”) Topic 820. The following table represents the Company’s fair value hierarchy of its financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2023 and December 31, 2022. June 30, 2023 December 31, 2022 Description Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Short-term investments $ 3,529,047 $ - $ - $ - $ - $ - The Company’s short-term investments are level 1 measurements and are based on redemption value at each date. The carrying amounts reported in the balance sheets for cash, prepaid expenses and other current assets, deferred offering costs, accounts payable, and accrued expenses approximate their fair market value based on the short-term maturity of these instruments.
Cash and Cash Equivalents	Cash and Cash Equivalents For purposes of the statements of cash flows, the Company considers all highly liquid instruments with a maturity of three months or less at the purchase date and money market accounts to be cash equivalents. The Company has no cash equivalents as of June 30, 2023 and December 31, 2022. The Company’s cash is held at major commercial banks, which may at times exceed the Federal Deposit Insurance Corporation (“FDIC”) limit. To date, the Company has not experienced any losses on its invested cash. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows. On June 30, 2023, the Company had approximately $1,171,000 of cash in excess of FDIC limits of $250,000.
Short-Term Investments	Short-Term Investments The Company’s portfolio of short-term investments consists of marketable debt securities which are comprised solely of rated U.S. government securities with maturities of more than three months, but less than one year. The Company classifies these as available-for-sale at purchase date and will reevaluate such designation at each period end date. The Company may sell these marketable debt securities prior to their stated maturities depending upon changing liquidity requirements. These debt securities are classified as current assets in the consolidated balance sheet and recorded at fair value, with unrealized gains or losses included in accumulated other comprehensive income (loss) on the balance sheet and as a component of the consolidated statements of comprehensive loss. Gains and losses are recognized when realized. Gains and losses are determined using the specific identification method and are reported in other income (expense), net in the consolidated statements of operations. An impairment loss may be recognized when the decline in fair value of the debt securities is determined to be other-than-temporary. The Company evaluates its investments for other-than-temporary declines in fair value below the cost basis each quarter, or whenever events or changes in circumstances indicate that the cost basis of the short-term investments may not be recoverable. The evaluation is based on a number of factors, including the length of time and the extent to which the fair value has been below the cost basis, as well as adverse conditions related specifically to the security, such as any changes to the credit rating of the security and the intent to sell or whether the Company will more likely than not be required to sell the security before recovery of its amortized cost basis. The Company recorded $19,649 and $37,805 of unrealized gains as a component of other comprehensive loss for the three and six months ended June 30, 2023. The Company did not recognize any gains or losses on short-term investments for the six months ended June 30, 2022.
Accounting for Digital Currencies and Other Digital Assets	Accounting for Digital Currencies and Other Digital Assets The Company accounts for digital currencies and other digital assets as indefinite-lived intangible assets and accounts for them at historical cost in accordance with ASC 350, Intangibles — Goodwill and Other. Indefinite-lived intangible assets are not subject to amortization but rather evaluated for impairment annually and more frequently, if events or circumstances change that indicate that it is more likely than not that the asset is impaired (i.e., if an impairment indicator exists). As a result, the Company only recognizes decreases in the value of its digital currencies and other digital assets, and any increase in value will be recognized only upon disposition. The Company plans to dispose of cryptocurrency received as a form of payment into fiat currency and anticipates ownership of cryptocurrency to be minimal. The Company held no such indefinite-lived intangible assets as of June 30, 2023 and December 31, 2022.
Capitalized Software Costs	Capitalized Software Costs Costs incurred to develop internal-use software, including game development, are expensed as incurred during the preliminary project stage. Internal-use software development costs are capitalized during the application development stage, which is after: (i) the preliminary project stage is completed; and (ii) management authorizes and commits to funding the project and it is probable the project will be completed and used to perform the function intended. Capitalization ceases at the point the software project is substantially complete and ready for its intended use, and after all substantial testing is completed. Upgrades and enhancements are capitalized if it is probable that those expenditures will result in additional functionality. Amortization is provided for on a straight-line basis over the expected useful life of the internal-use software development costs and related upgrades and enhancements. When existing software is replaced with new software, the unamortized costs of the old software are expensed when the new software is ready for its intended use. Through June 30, 2023, no development costs have been capitalized.
Intangible Assets	Intangible Assets Intangible assets, consisting of software and technology licenses, are carried at cost less accumulated amortization, computed using the straight-line method over the estimated useful life of 5 years, less any impairment charges. During the six months ended June 30, 2023, the Company recorded an impairment loss of $52,363 (see Note 4).
Income Taxes	Income Taxes Deferred income taxes are provided using the liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carryforwards, and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of the changes in tax laws and rates of the date of enactment. When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the accompanying balance sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination. Applicable interest and penalties associated with unrecognized tax benefits are classified as additional income taxes in the statements of operations.
Revenue Recognition	Revenue Recognition The Company follows Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606”). This standard establishes a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most of the existing revenue recognition guidance. ASC 606 requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services and also requires certain additional disclosures. The Company plans to generate revenue from the following sources: ● We plan to generate revenue from the sale of our in-game NFTs to our customers via our platform. Revenue generated from such sales, either directly as a sale of our in-game NFTs or indirectly as commission, will be recognized upon delivery of the in-game NFT to the customer, which is when the Company completes its sole performance obligation. We will sell our in-game NFTs for a fixed US dollar price (USD). Through a third-party payment service provider, the customer will have the option to pay for the NFT by using digital currencies, which includes Bitcoin or Ethereum. If payment is made in digital currency, the customer will send the USD equivalent amount of the digital currency to our custodial wallet via a third-party payment service provider, and revenue will be recorded using the fixed US dollar transaction price charged for the NFT. Upon conversion of the digital currency to USD, we will recognize a gain or loss equal to the difference between the fixed USD transaction price that we charged, and the amount of USD received at the time of conversion. See Accounting for Digital Currencies and Other Digital Assets ● The Company plans to generate revenue from advertising fees paid by game advertisers, developers, hardware companies, or other strategic partners to the Company for promotion on our platform. Revenues from these fees will be recognized ratably over the agreed upon advertising service period and upon delivery of agreed upon advertising services. ● We plan to generate royalty revenues when a third party sells one of our NFTs on a third-party platform. We will recognize royalty revenue when it is probable that we will collect the royalty fee owed which is typically when we receive notification from the third-party platform that an NFT has been sold. In the instance where the Company will receive royalty payments when a customer disposes of an in-game NFT in the secondary market on a third-party platform or any other payment that is not in fiat currency, the Company will recognize the revenue in accordance with ASC 606-10-32-21, Noncash Consideration. Fair value of the non-cash consideration received shall be determined by using the quoted price for such non-cash consideration on the date of the transaction. ● When a third-party publisher sells an NFT created using our platform via our smart contracts, we will receive a commission. Since they would use our same smart contract, the delivery and performance obligations are simultaneous with payment. We will recognize commission revenue upon delivery of the NFTs. ● We will generate transaction fee revenues from our customers which shall equal the network fees charged by the Polygon blockchain at the time of minting. Fees incurred by us, including Polygon Network (MATIC) and other NFT transaction costs, will be netted against such transaction fee revenues and transaction fees revenue will be reflected net of the related expenses. Currently, transaction fees are negligible. Transaction fee revenues and related costs shall be recognized on the date of the respective transaction. Each type of revenue source will be specifically identifiable and revenue shall be recognized based on our respective revenue recognition policy. We will not generate variable revenues under NFT contracts because our NFTs are priced in USD. All revenues generated by the Company shall be recognized in accordance with ASC Topic 606, “Revenue from Contracts with Customers.”
Research and Development	Research and Development Research and development costs incurred in the development of the Company’s products are expensed as incurred and include costs such as labor and outside development costs, software license fees, materials, and other allocated costs incurred.
Net Loss per Share	Net Loss per Share The Company computes net loss per share in accordance with ASC 260-10, “Earnings Per Share.” “as if converted” Pursuant to ASC 260-10-45, basic loss per common share is computed by dividing net loss attributable to common stockholders by the weighted average number of shares of common stock outstanding for the period presented. Diluted loss per share is computed by dividing net loss attributable to common stockholders by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during the period. The following were excluded from the computation of diluted shares outstanding as they would have had an anti-dilutive impact on the Company’s net loss. June 30, 2023 2022 Common stock equivalents: Warrants 1,686,747 - Stock options 460,000 - Total 2,146,747 -
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2023
Summary of Significant Accounting Policies [Abstract]
Schedule of Fair Value Hierarchy of its Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following table represents the Company’s fair value hierarchy of its financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2023 and December 31, 2022. June 30, 2023 December 31, 2022 Description Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Short-term investments $ 3,529,047 $ - $ - $ - $ - $ -
Schedule of Computation of Diluted Shares Outstanding as they would have had an Anti-Dilutive Impact on the Company’s Net Loss	The following were excluded from the computation of diluted shares outstanding as they would have had an anti-dilutive impact on the Company’s net loss. June 30, 2023 2022 Common stock equivalents: Warrants 1,686,747 - Stock options 460,000 - Total 2,146,747 -

Short-Term Investments (Tables)

Short-Term Investments (Tables)	6 Months Ended
	Jun. 30, 2023
Short-Term Investments [Abstract]
Schedule of Short-Term Investments	On June 30, 2023, the Company’s short-term investments consisted of the following: Cost Unrealized Fair Value US Treasury bills $ 3,491,242 $ 37,805 $ 3,529,047 Total short-term investments $ 3,491,242 $ 37,805 $ 3,529,047

Intangible Asset (Tables)

Intangible Asset (Tables)	6 Months Ended
	Jun. 30, 2023
Intangible Assets [Abstract]
Schedule of Intangible Asset Consisted	On June 30, 2023 and December 31, 2022, intangible asset consisted of the following: Useful life June 30, December 31, License 5 years $ - $ 62,836 Less: accumulated amortization - (4,189 ) $ - $ 58,647

Stockholders_ Equity (Tables)

Stockholders’ Equity (Tables)	6 Months Ended
	Jun. 30, 2023
Stockholders’ Equity [Abstract]
Schedule of Total Stock-Based Expenses Related to Stock Options	During the six months ended June 30, 2023, the Company recognized total stock-based expenses related to stock options of $892,499 which has been reflected in general and administrative expenses on the unaudited statements of operations and comprehensive loss. A balance of $164,762 remains to be expensed over future vesting periods related to unvested stock options issued for services to be expensed over a weighted average period of 2.44 years. Number of Weighted Weighted Balance on December 31, 2022 - $ - - Granted 460,000 4.15 - Balance on June 30, 2023 460,000 $ 4.15 8.99 Options exercisable on June 30, 2023 345,000 $ 4.15 9.64 Weighted average fair value of options granted during the period - $ 2.30 -
Schedule of Warrant Activity	Warrant activity for the six months ended June 30, 2023 are summarized as follows: Number of Warrants Weighted Average Exercise Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Balance Outstanding, December 31, 2022 - $ - - - Granted 1,686,747 4.565 - - Balance Outstanding, June 30, 2023 1,686,747 $ 4.565 4.63 - Exercisable, June 30, 2023 1,686,747 $ 4.565 4.63 -

Nature of Operations (Details)

Nature of Operations (Details) - USD ($)			1 Months Ended	6 Months Ended
	Nov. 04, 2022	Sep. 07, 2022	Feb. 17, 2023	Jun. 30, 2023	Dec. 31, 2022
Nature of Operations (Details) [Line Items]
Reverse stock split shares (in Shares)		1.33
Reverse stock split, description	On November 4, 2022, the Company filed a Certificate of Amendment to the Amended and Restated Articles of Incorporation (the “Certificate of Amendment”) with the Secretary of State of the State of Delaware to effect a 1-for-1.33 Reverse Stock Split with respect to the outstanding shares of the Company’s common stock.
Cash				$ 1,688,910
Short-term investments				3,529,047
Working capital				$ 5,057,592
Common stock price (in Dollars per share)				$ 1
Gross proceeds			$ 7,000,000
Net proceeds			5,958,470
Net offering expenses			$ 1,041,530
Deferred offering costs					$ 202,559
Equity issuance costs					$ 5,755,871
Net cash in operations				$ 1,433,858
Purchased liquid short-term investments				$ 3,491,242
IPO [Member]
Nature of Operations (Details) [Line Items]
Shares sold (in Shares)			1,686,755
Common stock price (in Dollars per share)			$ 4.15
Gross proceeds			$ 7,000,000
Net proceeds			5,958,470
Net offering expenses			$ 1,041,530

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Summary of Significant Accounting Policies [Abstract]
Cash	$ 1,171,000		$ 1,171,000
FDIC limits	250,000		250,000
Unrealized gains	$ 19,649		$ 37,805
Estimated useful life	5 years		5 years
Impairment loss	$ 52,363		$ 52,363

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - Schedule of Fair Value Hierarchy of its Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Level 1 [Member]
Schedule of fair value hierarchy of its financial assets and liabilities measured at fair value on a recurring basis [Abstract]
Short-term investments	$ 3,529,047
Level 2 [Member]
Schedule of fair value hierarchy of its financial assets and liabilities measured at fair value on a recurring basis [Abstract]
Short-term investments
Level 3 [Member]
Schedule of fair value hierarchy of its financial assets and liabilities measured at fair value on a recurring basis [Abstract]
Short-term investments

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details) - Schedule of Computation of Diluted Shares Outstanding as they would have had an Anti-Dilutive Impact on the Company’s Net Loss - shares	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Common stock equivalents:
Warrants	1,686,747
Stock options	460,000
Total	2,146,747

Short-Term Investments (Details

Short-Term Investments (Details) - Schedule of Short-Term Investments	6 Months Ended
	Jun. 30, 2023 USD ($)
Short-Term Investments (Details) - Schedule of Short-Term Investments [Line Items]
Cost	$ 3,491,242
Unrealized Gain	37,805
Fair Value	3,529,047
US Treasury Bills [Member]
Short-Term Investments (Details) - Schedule of Short-Term Investments [Line Items]
Cost	3,491,242
Unrealized Gain	37,805
Fair Value	$ 3,529,047

Intangible Asset (Details)

Intangible Asset (Details) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	Aug. 29, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Intangible Assets [Abstract]
License fee	$ 25,000
Company paid cover and expenses				$ 30,704
Professional fees				7,132
Gross proceeds				500,000
Intangible asset				52,363
Impairment loss		$ 52,363		52,363
Amortization of intangible assets				$ 6,284

Intangible Asset (Details) - Sc

Intangible Asset (Details) - Schedule of Intangible Asset Consisted - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Schedule of intangible asset consisted [Abstract]
Useful life, License	5 years
License		$ 62,836
Less: accumulated amortization		(4,189)
Intangible asset		$ 58,647

Stockholders_ Equity (Details)

Stockholders’ Equity (Details) - USD ($)		1 Months Ended		6 Months Ended
	Mar. 06, 2023	Feb. 17, 2023	Feb. 14, 2023	Jun. 30, 2023	Mar. 20, 2023	Dec. 31, 2022	Jan. 31, 2022
Stockholders’ Equity (Details) [Line Items]
Preferred stock, authorized (in Shares)				5,000,000		5,000,000
Preferred stock, par value (in Dollars per share)				$ 0.0001		$ 0.0001
Preferred stock, shares issued (in Shares)
Preferred stock, shares outstanding (in Shares)
Subscriptions receivable							$ 37,500
Stock repurchase					$ 500,000
shares purchased (in Shares)				32,048
Common stock				$ 24,241
Average price, per share (in Dollars per share)				$ 0.756
Common stock issued (in Shares)		1,686,755
Common stock exercise price (in Dollars per share)	$ 4.15	$ 4.15	$ 4.15
Gross proceeds		$ 7,000,000
Net proceeds		5,958,470
Net offering expenses		$ 1,041,530
Deferred offering costs						$ 202,599
Warrants issued				$ 4.565		$ 1,686,747
Warrants exercisable per share (in Dollars per share)				$ 4.565
Fair value of these warrant				$ 3,657,258
Dividend yield				0%
Volatilities rate				69.80%
Risk-free interest rates				4.03%
Holding period				5 years
Shares reserved (in Shares)				2,500,000
Aggregate stock options shares (in Shares)	60,000		400,000
Stock options, description			The options vest as to (i) 340,000 of such options on February 14, 2023; and (ii) the remaining 60,000 options vest quarterly (5,000 each quarter) beginning on May 14, 2023 and each quarter thereafter through February 14, 2026.
Stock options valued	$ 33,972		$ 1,023,290
Total stock-based expenses				$ 892,499
Balance remains future vesting periods				$ 164,762
Weighted average period				2 years 5 months 8 days
Aggregate intrinsic value				$ 0
Shares of vested warrants (in Shares)				1,686,747
Stock Option [Member]
Stockholders’ Equity (Details) [Line Items]
Dividend yield				0%
Minimum [Member]
Stockholders’ Equity (Details) [Line Items]
Volatilities rate				68.80%
Risk-free interest rates				3.95%
Maximum [Member]
Stockholders’ Equity (Details) [Line Items]
Volatilities rate				71.60%
Risk-free interest rates				4%

Stockholders_ Equity (Details)

Stockholders’ Equity (Details) - Schedule of Total Stock-Based Expenses Related to Stock Options - Stock Option [Member]	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Stockholders’ Equity (Details) - Schedule of Total Stock-Based Expenses Related to Stock Options [Line Items]
Number of Options, Beginning balance | shares
Weighted Average Exercise Price, Beginning balance | $ / shares
Weighted Average Remaining Contractual Life (Years), Beginning balance
Number of Options, Granted | shares	460,000
Weighted Average Exercise Price, Granted | $ / shares	$ 4.15
Weighted Average Remaining Contractual Life (Years), Granted
Number of Options, Ending balance | shares	460,000
Weighted Average Exercise Price, Ending balance | $ / shares	$ 4.15
Weighted Average Remaining Contractual Life (Years), Ending balance	8 years 11 months 26 days
Number of Options, Options exercisable | shares	345,000
Weighted Average Exercise Price, Options exercisable | $ / shares	$ 4.15
Weighted Average Remaining Contractual Life (Years), Options exercisable	9 years 7 months 20 days
Number of Options, Weighted average fair value of options granted during the period | shares
Weighted Average Exercise Price, Weighted average fair value of options granted during the period | $ / shares	$ 2.3
Weighted Average Remaining Contractual Life (Years), Weighted average fair value of options granted during the period

Stockholders_ Equity (Details_2

Stockholders’ Equity (Details) - Schedule of Warrant Activity - Warrant [Member]	6 Months Ended
	Jun. 30, 2023 USD ($) $ / shares shares
Stockholders’ Equity (Details) - Schedule of Warrant Activity [Line Items]
Number of Warrants, Beginning balance | shares
Weighted Average Exercise Price, Beginning balance | $ / shares
Weighted Average Remaining Contractual Term (Years), Beginning balance
Aggregate Intrinsic Value, Beginning balance | $
Number of Warrants, Granted | shares	1,686,747
Weighted Average Exercise Price, Granted | $ / shares	$ 4.565
Weighted Average Remaining Contractual Term (Years), Granted
Aggregate Intrinsic Value, Granted | $
Number of Warrants, Ending balance | shares	1,686,747
Weighted Average Exercise Price, Ending balance | $ / shares	$ 4.565
Weighted Average Remaining Contractual Term (Years), Ending balance	4 years 7 months 17 days
Aggregate Intrinsic Value, Ending balance | $
Number of Warrants, Exercisable | shares	1,686,747
Weighted Average Exercise Price, Exercisable | $ / shares	$ 4.565
Weighted Average Remaining Contractual Term (Years), Exercisable	4 years 7 months 17 days
Aggregate Intrinsic Value, Exercisable | $

Commitments and Contingencies (

Commitments and Contingencies (Details)	Feb. 17, 2023 USD ($) shares
Commitments and Contingencies (Details) [Line Items]
Shares of common stock | shares	200,000
Mr. Mats [Member]
Commitments and Contingencies (Details) [Line Items]
Base salary at annual rate | $	$ 400,000

Subsequent Events (Details)

Subsequent Events (Details) - $ / shares	Jul. 10, 2023	Jun. 30, 2023
Subsequent Events (Details) [Line Items]
Common stock, per share		$ 1
Subsequent Event [Member]
Subsequent Events (Details) [Line Items]
Common stock, per share	$ 1