MIRA Pharmaceuticals (MIRA) 10-Q 12 Nov 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2024	Nov. 12, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2024
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity File Number	001-41765
Entity Registrant Name	MIRA Pharmaceuticals, Inc.
Entity Central Index Key	0001904286
Entity Tax Identification Number	85-3354547
Entity Incorporation, State or Country Code	FL
Entity Address, Address Line One	1200 Brickell Avenue
Entity Address, Address Line Two	Suite 1950 #1183
Entity Address, City or Town	Miami
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33131
City Area Code	(737)
Local Phone Number	289-0835
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	MIRA
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
Elected Not To Use the Extended Transition Period	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		16,560,852

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash	$ 4,144,560	$ 4,602,566
Other receivables		11,862
Prepaid expenses	86,572	243,802
Total current assets	4,231,132	4,858,230
Operating lease, right of use assets		5,061
Total assets	4,266,571	4,932,443
Current liabilities:
Trade accounts payable and accrued liabilities	692,833	538,564
Current portion of operating lease liabilities		5,061
Total current liabilities	692,833	558,097
Total liabilities	692,833	558,097
Stockholders’ Equity
Preferred stock, $0.0001 par value, 10,000,000 shares authorized and none issued or outstanding.
Common stock, $0.0001 par value; 100,000,000 shares authorized, 16,266,148 and 14,780,885 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively.	1,627	1,478
Additional paid-in capital	30,310,136	25,657,930
Accumulated deficit	(26,738,025)	(21,285,062)
Total stockholders’ equity	3,573,738	4,374,346
Total liabilities and stockholders’ equity	4,266,571	4,932,443
Related Party [Member]
Current assets:
Due from related party	35,439	69,152
Current liabilities:
Related party accrued interest		$ 14,472

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	16,266,148	14,780,885
Common stock, shares outstanding	16,266,148	14,780,885

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Revenues
Operating costs:
General and administrative expenses	1,014,223	2,144,832	3,136,393	3,830,303
Related party travel costs				453,550
Research and development expenses	1,067,396	1,015,252	2,444,134	1,185,839
Total operating costs	2,081,619	3,160,084	5,580,527	5,469,692
Interest income(expense), net	37,752	(427,732)	127,564	(725,273)
Net loss attributable to common stockholders	$ (2,043,867)	$ (3,587,816)	$ (5,452,963)	$ (6,194,965)
Basic loss per share	$ (0.14)	$ (0.26)	$ (0.36)	$ (0.45)
Diluted loss per share	$ (0.14)	$ (0.26)	$ (0.36)	$ (0.45)
Weighted average common stock shares outstanding - basic	15,071,915	13,639,197	15,071,915	13,639,197
Weighted average common stock shares outstanding - diluted	15,071,915	13,639,197	15,071,915	13,639,197

Condensed Statements of Stockho

Condensed Statements of Stockholders' Equity (Deficit) (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Total
Balances at Dec. 31, 2022	$ 1,331	$ 8,699,830	$ (9,302,722)	$ (596,232)
Balance, shares at Dec. 31, 2022	13,313,000
Stock-based compensation		2,337,133		2,337,133
Net loss			(6,194,965)	(6,194,965)
Issuance of common stock. IPO	$ 128	7,704,152		7,704,279
Issuance of common stock, IPO, shares	1,275,000
Issuance of common stock, debt conversion	$ 16	1,100,080		1,100,096
Issuance of common stock, debt conversion, shares	157,170
Issuance of common stock	$ 4	249,996		250,000
Issuance of common stock, shares	35,715
Issuance of warrants		3,515,000		3,515,000
Balances at Sep. 30, 2023	$ 1,478	23,606,191	(15,497,684)	8,115,311
Balance, shares at Sep. 30, 2023	14,780,885
Balances at Jun. 30, 2023	$ 1,331	13,099,830	(11,909,868)	1,196,619
Balance, shares at Jun. 30, 2023	13,313,000
Stock-based compensation		1,452,133		1,452,133
Net loss			(3,587,816)	(3,587,816)
Issuance of common stock. IPO	$ 128	7,704,152		7,704,279
Issuance of common stock, IPO, shares	1,275,000
Issuance of common stock, debt conversion	$ 16	1,100,080		1,100,096
Issuance of common stock, debt conversion, shares	157,170
Issuance of common stock	$ 4	249,996		250,000
Issuance of common stock, shares	35,715
Balances at Sep. 30, 2023	$ 1,478	23,606,191	(15,497,684)	8,115,311
Balance, shares at Sep. 30, 2023	14,780,885
Balances at Dec. 31, 2023	$ 1,478	25,657,930	(21,285,062)	4,374,346
Balance, shares at Dec. 31, 2023	14,780,885
Issuance of common stock, ATM	$ 149	3,129,476		3,129,625
Issuance of common stock, ATM, shares	1,485,263
Stock-based compensation		1,374,027		1,374,027
Net loss			(5,452,963)	(5,452,963)
Payment of Short Swing Disgorgement by Bay Shore Trust		148,703		148,703
Balances at Sep. 30, 2024	$ 1,627	30,310,136	(26,738,025)	3,573,738
Balance, shares at Sep. 30, 2024	16,266,148
Balances at Jun. 30, 2024	$ 1,478	26,911,646	(24,694,158)	2,218,966
Balance, shares at Jun. 30, 2024	14,780,885
Issuance of common stock, ATM	$ 149	3,129,476		3,129,626
Issuance of common stock, ATM, shares	1,485,263
Stock-based compensation		269,014		269,014
Net loss			(2,043,867)	(2,043,867)
Balances at Sep. 30, 2024	$ 1,627	$ 30,310,136	$ (26,738,025)	$ 3,573,738
Balance, shares at Sep. 30, 2024	16,266,148

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from Operating activities
Net loss	$ (5,452,963)	$ (6,194,965)
Adjustments to reconcile net loss to net cash from operations
Interest expense, net		(20,515)
Amortization of debt issuance costs		732,292
Stock-based compensation expense	1,374,024	2,337,133
Change in operating assets and liabilities:
Other receivables	11,862
Accounts payable and accrued expenses	154,270	(148,516)
Prepaid expenses	157,231	(202,817)
Net cash flows from operating activities	(3,755,576)	(3,497,388)
Financing activities:
Advances from (to) affiliates	33,713	(50,000)
Deferred offering costs		143,427
Repayments under related party line of credit	(14,472)	(133,062)
Proceeds from sale of common stock, less offering costs	3,129,626	7,704,279
Issuance of common stock conversion of debt		1,100,096
Issuance of common stock in lieu of fees		250,000
Bayshore Trust short-swing disgorgement	148,703
Net cash flows provided by financing activities	3,297,570	9,014,740
Net change in cash	(458,006)	5,517,352
Cash, beginning of year	4,602,566	350,978
Cash, end of period	4,144,560	5,868,330
Cash paid for interest

Condensed Statements of Cash _2

Condensed Statements of Cash Flows (Unaudited) (Parenthetical)	9 Months Ended
	Sep. 30, 2023 USD ($) shares
Amortization of debt issuance costs	$ 732,292
Common Stock [Member]
Shares issued | shares	35,715
Bay Shore Trust [Member]
Shares issued | shares	1,000,000
Deferred finance cost	$ 3,500,000
Amortization of debt issuance costs	$ 700,000
Bay Shore Trust [Member] | Common Stock [Member]
Shares issued | shares	157,170
Deferred finance cost	$ 1,100,000
MZ Group [Member]
Shares issued | shares	35,715
Deferred finance cost	$ 250,000

Description of business and sum

Description of business and summary of significant accounting policies	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Description of business and summary of significant accounting policies	Note 1. Description of business and summary of significant accounting policies Overview MIRA Pharmaceuticals, Inc. (“MIRA,” or the “Company”), is a pre-clinical-stage pharmaceutical development company with two neuroscience programs targeting a broad range of neurologic and neuropsychiatric disorders. The Company holds exclusive license rights in the U.S., Canada and Mexico for Ketamir-2, a novel, patent pending oral ketamine analog under pre-clinical investigation to potentially deliver ultra-rapid antidepressant effects, providing hope for individuals battling neuropathic pain (“NP”), treatment-resistant depression (“TRD”), major depressive disorder with suicidal ideation (“MDSI”), and potentially post-traumatic stress disorder (“PTSD”). Additionally, the Company’s novel oral pharmaceutical marijuana, MIRA-55, is currently under investigation for its potential to alleviate neuropathic pain, as well as anxiety and cognitive decline, symptoms often associated with early-stage dementia. MIRA-55, if approved by the U.S. Food and Drug Administration (“FDA”), could mark a significant advancement in addressing various neuropsychiatric, inflammatory, and neurologic diseases and disorders. The U.S. Drug Enforcement Administration’s (“DEA”) scientific reviews of both Ketamir-2 and MIRA-55 concluded that they would not be considered a controlled substance or listed chemical under the Controlled Substances Act (“CSA”) and its governing regulations. As used herein, the Company’s Common Stock, par value $ 0.0001 0.0001 Basis of Accounting The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America (“GAAP”). In the opinion of management, all adjustments considered necessary for the fair presentation of the financial statements for the periods presented have been included. The results of operations for the nine months ended September 30, 2024 are not necessarily indicative of the results to be expected for future periods Operating Updates In early February 2024, the Company made a significant discovery during the manufacturing and scale-up process of its patented molecule known as “MIRA1a,” which the Company believed was the molecule used in its pre-clinical trials and had been synthesized by a contract manufacturer. Through this process, the Company identified a novel and improved version of the molecule, which the Company calls MIRA-55. As part of the Company’s due diligence and subsequent testing, which began in late 2023, the Company discovered that the pre-clinical studies the Company conducted, previously attributed to MIRA1a, were in fact performed on MIRA-55. Following this revelation, in early March 2024, the Company promptly filed a provisional patent for MIRA-55, which encompasses all pre-clinical studies. If such patent is issued, the Company will own the patent rights to both MIRA1a and MIRA-55. Moreover, based on the Company’s pre-clinical analyses to date, the Company believes that MIRA-55 is an improvement over MIRA1a in that it displays enhanced potency and potential for efficacy. Based on the Company’s discoveries and pre-clinical studies to date, the Company has decided to advance MIRA-55 as its lead compound for the Company’s oral pharmaceutical marijuana drug candidate while still retaining its rights to MIRA1a. As such, the Company has decided not to move MIRA1a forward. Significant Accounting Policies There have been no material changes in the Company’s significant accounting policies from those previously disclosed in the 2023 Annual Report.

Liquidity and capital resources

Liquidity and capital resources	9 Months Ended
	Sep. 30, 2024
Liquidity And Capital Resources
Liquidity and capital resources	Note 2. Liquidity and capital resources In accordance with Accounting Standards Codification 205-40, Going Concern 4.1 3.8 Historically, the Company has been primarily engaged in developing MIRA-55 and, more recently, has also been focusing on the development of Ketamir-2. During these activities, the Company sustained substantial losses. The Company’s ability to fund ongoing operations and future pre-clinical and clinical trials required for FDA approval is dependent on the Company’s ability to obtain significant additional external funding in the near term. Since inception, the Company financed its operations through the sale of Common Stock, and related party financings. The Company maintains an effective shelf registration statement with the SEC for the issuance of shares of common stock under various types of equity offerings, including shares of common stock under our ATM equity program (Note 6). The Company expects to be able to fund operations through the fourth quarter of 2025, with the cash on hand. However, the Company has the ability to issue common stock under its shelf registration statement to assist in liquidity needs. The Company expects to continue to generate losses in the foreseeable future. The Company’s liquidity needs will be determined largely by the budgeted operational expenditures incurred in regard to the progression of its product candidates. The Company does not have sufficient cash and cash equivalents as of the date of filing this Report to support its operations for at least the 12 months following the date the financial statements are issued. These conditions raise substantial doubt about the Company’s ability to continue as a going concern through 12 months after the date the accompanying financial statements are issued.. The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business, and do not include any adjustments relating to recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern

Debt, related party

Debt, related party	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Debt, related party	Note 3. Debt, related party MIRALOGX On November 15, 2023, the Company entered into a Promissory Note and Loan Agreement (the “Loan Agreement”) with MIRALOGX, LLC, a Florida limited liability company (“MIRALOGX”) which is a related-party owned by Bay Shore Trust, a significant stockholder of the Company (“Bay Shore Trust”). Pursuant to the Loan Agreement, the Company may borrow up to $ 3.0 Together with any Advance Request, the Company shall deliver to the Lender a budget for the requested Advance (the “Budget”). The Budget may only include costs directly associated with preparing an Investigational New Drug (“IND”) application for Ketamir-2, exclusive of personnel costs. Any Advances made by MIRALOGX to the Company pursuant to this Loan may be repaid by the Company (together with any and all interest accrued thereon) at any time without penalty or premium in accordance with the terms hereof. Amounts repaid under the Loan may not be reborrowed The Loan Agreement has a one-year term, and all outstanding principal and accrued but unpaid interest must be repaid in full on November 15, 2024. Interest on the amounts borrowed under the Loan Agreement accrues at an annual fixed rate of 8 Bay Shore Trust In April 2023, the Company entered into a Promissory Note and Loan Agreement with the Bay Shore Trust. Under this Promissory Note and Loan Agreement (the “Bay Shore Note”), the Company had the right to borrow up to an aggregate of $ 5 7 On July 20, 2023, the Company entered into a conversion agreement with the Bay Shore Trust under which the Bay Shore Trust had converted, at the time of the IPO, $ 1.1 157,170 1.0 0.03 0.01 th

Related party transactions

Related party transactions	9 Months Ended
	Sep. 30, 2024
Related Party Transactions [Abstract]
Related party transactions	Note 4. Related party transactions Due from related parties – 0.03 Shared management- 0.04 Shared lease costs Debt, related party - See Note 3. Stock settlement agreement - See Note 6

Leases

Leases	9 Months Ended
	Sep. 30, 2024
Leases
Leases	Note 5. Leases The Company’s former corporate headquarters were located in Baltimore, Maryland, which included a lease for office space. This lease began in November 2021 and ended April 2024. The lease was not renewed after April 2024. In April 2024, the company moved to a virtual office model and does not have a physical office space. Variable lease costs Variable lease costs primarily include utilities, property taxes, and other operating costs that are passed on from the lessor. Variable lease costs related to the aircraft include usage expenses, which includes pilot expenses, jet fuel and general flight expenses. The components of lease expense were as follows: Schedule of Lease Expense Lease Costs 2024 2023 Nine months ended September 30, Lease Costs 2024 2023 Operating Lease Cost Operating Lease $ 5,092 $ 200,283 Variable Lease Costs - 311,126 Total Lease Cost $ 5,092 $ 511,409 Supplemental cash flow information related to leases were as follows: Schedule of Cash Flow Information Related to Leases Other Lease Information 2024 2023 Nine months ended September 30, Other Lease Information 2024 2023 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 5,092 $ 511,409

Stockholders_ equity

Stockholders’ equity	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Stockholders’ equity	Note 6. Stockholders’ equity Common Stock Issuances On August 12, 2024, the Company filed a shelf registration statement with the SEC to facilitate the issuance of our common stock and entered into an At The Market Offering Agreement (the “ATM Agreement”) with Rodman & Renshaw LLC (the “Manager”), under which the Company may offer and sell shares of its Common Stock, with an aggregate offering amount sold of up to $ 19,268,571 75 1,485,263 1.61 3.1 0.09 Stock-based compensation The fair value of each option award is estimated on the grant date using the Black-Scholes valuation model that uses assumptions for expected volatility, expected dividends, expected term, and the risk-free interest rate. Expected price volatility is based on the historical volatilities of a peer group as the Company does not have a multi-year trading history for its shares. Industry peers consist of several public companies in the biotech industry similar to the Company in size, stage of life cycle and product indications. The Company intends to continue to consistently apply this process using the same or similar public companies until a sufficient amount of historical information regarding the volatility of the Company’s own stock price becomes available, or unless circumstances change such that the identified companies are no longer similar to the Company, in which case, more suitable companies whose share prices are publicly available would be utilized in the calculation. Expected term of options granted is derived using the “simplified method” which computes expected term as the average of the sum of the vesting term plus contract term. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant. The Company recognizes forfeitures as they occur. During the nine months ended September 30, 2024, a total of 1,204,000 1.2 0.71 1.57 10 The following is option activity during the nine months ended September 30, 2024. Schedule of Stock Option Activity Number of shares Weighted average exercise price per share Aggregate intrinsic value Outstanding as January 1, 2024 1,215,001 $ 5.29 Options granted 1,204,000 $ 1.08 Forfeitures (546,667 ) $ 5.00 Outstanding as September 30, 2024 1,872,334 $ 2.67 $ 1,467,700 As of September 30, 2024, options exercisable totaled 1,350,391 0.5 Key assumptions used to value stock options during the nine months ended September 30, 2024 are as follows: Schedule of Key Assumptions Used to Value Stock Options Expected price volatility 77.7 152.45 % Risk-free interest rate 3.49 4.24 % Exercise price $ 0.71 1.57 Expected term (in years) 5 6 Dividend yield - Warrants The Company has granted warrants to purchase shares of Common Stock. Warrants may be granted to affiliates in connection with certain agreements. As of September 30, 2024, a cumulative total of 1,763,570 2.00 7.00 no Earnings Per Share During the three and nine months ended September 30, 2024 and September 30, 2023, outstanding stock options and warrants of 3,635,904 2,215,001 Stock Settlement Agreement On April 24, 2024 the Company settled a claim submitted by certain shareholders under Section 16 of the Securities Exchange Act involving the Company that claimed illegal profits were earned on stock transactions involving insiders of the Company. After investigation, the Company informed the insider, Bayshore Trust, of the claim and came to agreement with the shareholders, whereby requiring the disgorgement of profits by the insider back to the Company in the amount of $ 148,703

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Note 7. Subsequent Events The Company evaluates subsequent events until the date the accompanying unaudited condensed financial statements are issued. Significant subsequent events are described below: ATM Offering From October 1, 2024 through November 12, 2024, under the ATM Agreement, the Company sold and issued 294,704 1.84 0.5 0.01

Description of business and s_2

Description of business and summary of significant accounting policies (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Overview	Overview MIRA Pharmaceuticals, Inc. (“MIRA,” or the “Company”), is a pre-clinical-stage pharmaceutical development company with two neuroscience programs targeting a broad range of neurologic and neuropsychiatric disorders. The Company holds exclusive license rights in the U.S., Canada and Mexico for Ketamir-2, a novel, patent pending oral ketamine analog under pre-clinical investigation to potentially deliver ultra-rapid antidepressant effects, providing hope for individuals battling neuropathic pain (“NP”), treatment-resistant depression (“TRD”), major depressive disorder with suicidal ideation (“MDSI”), and potentially post-traumatic stress disorder (“PTSD”). Additionally, the Company’s novel oral pharmaceutical marijuana, MIRA-55, is currently under investigation for its potential to alleviate neuropathic pain, as well as anxiety and cognitive decline, symptoms often associated with early-stage dementia. MIRA-55, if approved by the U.S. Food and Drug Administration (“FDA”), could mark a significant advancement in addressing various neuropsychiatric, inflammatory, and neurologic diseases and disorders. The U.S. Drug Enforcement Administration’s (“DEA”) scientific reviews of both Ketamir-2 and MIRA-55 concluded that they would not be considered a controlled substance or listed chemical under the Controlled Substances Act (“CSA”) and its governing regulations. As used herein, the Company’s Common Stock, par value $ 0.0001 0.0001
Basis of Accounting	Basis of Accounting The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America (“GAAP”). In the opinion of management, all adjustments considered necessary for the fair presentation of the financial statements for the periods presented have been included. The results of operations for the nine months ended September 30, 2024 are not necessarily indicative of the results to be expected for future periods
Operating Updates	Operating Updates In early February 2024, the Company made a significant discovery during the manufacturing and scale-up process of its patented molecule known as “MIRA1a,” which the Company believed was the molecule used in its pre-clinical trials and had been synthesized by a contract manufacturer. Through this process, the Company identified a novel and improved version of the molecule, which the Company calls MIRA-55. As part of the Company’s due diligence and subsequent testing, which began in late 2023, the Company discovered that the pre-clinical studies the Company conducted, previously attributed to MIRA1a, were in fact performed on MIRA-55. Following this revelation, in early March 2024, the Company promptly filed a provisional patent for MIRA-55, which encompasses all pre-clinical studies. If such patent is issued, the Company will own the patent rights to both MIRA1a and MIRA-55. Moreover, based on the Company’s pre-clinical analyses to date, the Company believes that MIRA-55 is an improvement over MIRA1a in that it displays enhanced potency and potential for efficacy. Based on the Company’s discoveries and pre-clinical studies to date, the Company has decided to advance MIRA-55 as its lead compound for the Company’s oral pharmaceutical marijuana drug candidate while still retaining its rights to MIRA1a. As such, the Company has decided not to move MIRA1a forward.
Significant Accounting Policies	Significant Accounting Policies There have been no material changes in the Company’s significant accounting policies from those previously disclosed in the 2023 Annual Report.

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2024
Leases
Schedule of Lease Expense	The components of lease expense were as follows: Schedule of Lease Expense Lease Costs 2024 2023 Nine months ended September 30, Lease Costs 2024 2023 Operating Lease Cost Operating Lease $ 5,092 $ 200,283 Variable Lease Costs - 311,126 Total Lease Cost $ 5,092 $ 511,409
Schedule of Cash Flow Information Related to Leases	Supplemental cash flow information related to leases were as follows: Schedule of Cash Flow Information Related to Leases Other Lease Information 2024 2023 Nine months ended September 30, Other Lease Information 2024 2023 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 5,092 $ 511,409

Stockholders_ equity (Tables)

Stockholders’ equity (Tables)	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Schedule of Stock Option Activity	The following is option activity during the nine months ended September 30, 2024. Schedule of Stock Option Activity Number of shares Weighted average exercise price per share Aggregate intrinsic value Outstanding as January 1, 2024 1,215,001 $ 5.29 Options granted 1,204,000 $ 1.08 Forfeitures (546,667 ) $ 5.00 Outstanding as September 30, 2024 1,872,334 $ 2.67 $ 1,467,700
Schedule of Key Assumptions Used to Value Stock Options	Key assumptions used to value stock options during the nine months ended September 30, 2024 are as follows: Schedule of Key Assumptions Used to Value Stock Options Expected price volatility 77.7 152.45 % Risk-free interest rate 3.49 4.24 % Exercise price $ 0.71 1.57 Expected term (in years) 5 6 Dividend yield -

Description of business and s_3

Description of business and summary of significant accounting policies (Details Narrative) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Common stock, par value	$ 0.0001	$ 0.0001
Preferred stock, par value	$ 0.0001	$ 0.0001

Liquidity and capital resourc_2

Liquidity and capital resources (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Liquidity And Capital Resources
Cash	$ 4,144,560		$ 4,602,566
Net cash in operations	$ 3,755,576	$ 3,497,388

Debt, related party (Details Na

Debt, related party (Details Narrative) - USD ($) $ in Thousands	Aug. 14, 2023	Jul. 20, 2023	Sep. 30, 2024	Nov. 15, 2023	Apr. 30, 2023
Miralogx Llc [Member]
Defined Benefit Plan Disclosure [Line Items]
Long term borrowings				$ 3,000
Interest rate				8%
Bay Shore Trust [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest rate					7%
Outstanding principal balance	$ 1,000	$ 1,100			$ 5,000
Issuance of common stock		157,170
Payment of accrued interest	$ 30
Remaining amount of accrued interest			$ 10

Related party transactions (Det

Related party transactions (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Related Party Transaction [Line Items]
Related party. travel cost	$ 40,000
Related Party [Member]
Related Party Transaction [Line Items]
Accounts receivable related party	35,439	$ 69,152
Related Party [Member] | Minimum [Member]
Related Party Transaction [Line Items]
Accounts receivable related party	$ 30,000

Schedule of Lease Expense (Deta

Schedule of Lease Expense (Details) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Leases
Operating Lease	$ 5,092	$ 200,283
Variable Lease Costs		311,126
Total Lease Cost	$ 5,092	$ 511,409

Schedule of Cash Flow Informati

Schedule of Cash Flow Information Related to Leases (Details) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Leases
Operating cash flows from operating leases	$ 5,092	$ 511,409

Schedule of Stock Option Activi

Schedule of Stock Option Activity (Details)	9 Months Ended
	Sep. 30, 2024 USD ($) $ / shares shares
Equity [Abstract]
Number of shares, Outstanding beginning balance | shares	1,215,001
Weighted average exercise price per share, Outstanding beginning balance | $ / shares	$ 5.29
Number of shares, Options granted | shares	1,204,000
Weighted average exercise price per share, Options granted | $ / shares	$ 1.08
Number of shares, Forfeitures | shares	(546,667)
Weighted average exercise price per share, Forfeitures | $ / shares	$ 5
Number of shares, Outstanding ending balance | shares	1,872,334
Weighted average exercise price per share, Outstanding ending balance | $ / shares	$ 2.67
Aggregate intrinsic value, Outstanding | $	$ 1,467,700

Schedule of Key Assumptions Use

Schedule of Key Assumptions Used to Value Stock Options (Details)	9 Months Ended
	Sep. 30, 2024 $ / shares
Dividend yield
Minimum [Member]
Expected price volatility	77.70%
Risk-free interest rate	3.49%
Weighted average fair values	$ 0.71
Weighted average expected life in years	5 years
Maximum [Member]
Expected price volatility	152.45%
Risk-free interest rate	4.24%
Weighted average fair values	$ 1.57
Weighted average expected life in years	6 years

Stockholders_ equity (Details N

Stockholders’ equity (Details Narrative) - USD ($)			3 Months Ended		9 Months Ended
	Sep. 24, 2024	Aug. 12, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Apr. 24, 2024	Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share-based compensation options to purchase common stock					1,204,000
Share-based compensation options, granted value			$ 1,200,000		$ 1,200,000
Option term					10 years
Options exercisable			1,350,391		1,350,391
Unrecognized compensation costs			$ 500,000		$ 500,000
Additional paid in capital			$ 30,310,136		$ 30,310,136		$ 148,703	$ 25,657,930
Share-Based Payment Arrangement, Option [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Computation of diluted earnings per share			3,635,904	3,635,904	3,635,904	3,635,904
Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Computation of diluted earnings per share			2,215,001	2,215,001	2,215,001	2,215,001
Minimum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock options exercise price					$ 0.71
Maximum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock options exercise price					$ 1.57
Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrant outstanding			1,763,570		1,763,570
Warrant granted					0
Warrant exercised					0
Warrant [Member] | Minimum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrant exercise price			$ 2		$ 2
Warrant [Member] | Maximum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrant exercise price			7		$ 7
ATM Agreement [Member] | Common Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Issuance of common stock, net proceeds value		$ 19,268,571			$ 3,100,000
Maximum amount eligible to be sold under agreement	$ 75,000,000
Number of shares issued					1,485,263
Issuance of common stock, price per share			$ 1.61		$ 1.61
Commissions and other fees					$ 90,000

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - ATM Agreement [Member] - Common Stock [Member] - USD ($)		1 Months Ended	9 Months Ended
	Aug. 12, 2024	Nov. 12, 2024	Sep. 30, 2024
Subsequent Event [Line Items]
Issuance of common stock, shares			1,485,263
Issuance of common stock, price per share			$ 1.61
Issuance of common stock, net proceeds value	$ 19,268,571		$ 3,100,000
Commissions and other fees			$ 90,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Issuance of common stock, shares		294,704
Issuance of common stock, price per share		$ 1.84
Issuance of common stock, net proceeds value		$ 500,000
Commissions and other fees		$ 10,000