Cyclo Therapeutics (CYTH) 10-K/A 26 Nov 24 2023 FY Annual report (amended) Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2023	Mar. 15, 2024	Jun. 30, 2023
Document Information [Line Items]
Document Type	10-K/A
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Entity File Number	0-25466
Entity Registrant Name	CYCLO THERAPEUTICS, INC.
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	59-3029743
Entity Address, Address Line One	6714 NW 16th Street, Suite B
Entity Address, City or Town	Gainesville
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	32653
City Area Code	386
Local Phone Number	418-8060
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 17,225,521
Entity Common Stock, Shares Outstanding (in shares)		28,715,740
Amendment Description	Cyclo Therapeutics, Inc. (the “Company”) is filing this Amendment No. 2 on Form 10-K/A (this “Amendment No. 2”) to amend the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, which was initially filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 18, 2024 (the “Original 2023 Form 10-K”) and was amended by Amendment No. 1 thereto filed with the SEC on April 29, 2024 (as so amended, the “2023 Form 10-K” ). The purpose of this Amendment No. 2 is to amend the disclosures in the 2023 Form 10-K in response to SEC comments recently received by the Company thereon as follows: Item 1. Business, under the headings “Overview,” “Competition,” “Our Clinical Studies – US Phase I Clinical Study” and “Other Cyclodextria Uses” and Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations, under the headings “Overview” and “Year Ended December 31, 2023 Compared to Year End December 31, 2022” and Item 9A. Controls and Procedures, under the headings “Evaluation of Disclosure Controls and Procedures” and “Management’s Annual Report on Internal Control over Financial Reporting.” Except as described above, this Amendment No. 2 does not amend, modify, or otherwise update any other information in the 2023 Form 10-K nor does it reflect events occurring after the filing of the Original 2023 Form10-K. Accordingly, this Amendment No. 2 should be read in conjunction with the 2023 Form 10-K and the Company’s other filings with the SEC.
Auditor Name	WithumSmith+Brown, PC
Auditor Location	East Brunswick, New Jersey
Auditor Firm ID	100
Entity Central Index Key	0000922247
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	true
Common Stock [Member]
Document Information [Line Items]
Title of 12(b) Security	Common Stock, par value $.0001 per share
Trading Symbol	CYTH
Security Exchange Name	NASDAQ
Warrants To Purchase Common Stock [Member]
Document Information [Line Items]
Title of 12(b) Security	Warrants to purchase Common Stock
Trading Symbol	CYTHW
Security Exchange Name	NASDAQ

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2023	Dec. 31, 2022
CURRENT ASSETS
Cash and cash equivalents	$ 9,246,592	$ 1,543,418
Accounts receivable, net of allowances of $10,272	122,379	54,991
Inventory, net	254,352	254,491
Prepaid insurance and services	384,889	101,135
Prepaid clinical expenses	2,310,045	2,204,520
Total current assets	12,318,257	4,158,555
FURNITURE AND EQUIPMENT, NET	38,332	55,188
RIGHT-OF-USE LEASE ASSETS, NET	890,949	1,470
TOTAL ASSETS	13,247,538	4,215,213
CURRENT LIABILITIES
Current portion of lease liabilities	1,010,631	0
Accounts payable and accrued expenses	7,457,416	3,480,669
Total current liabilities	8,468,047	3,480,669
LONG-TERM LIABILITIES
Lease liabilities, net of current portion	22,484	0
Total long-term liabilities	22,484	0
STOCKHOLDERS' EQUITY
Common stock, par value $.0001 per share, 250,000,000 and 20,000,000 shares authorized at December 31, 2023 and 2022, respectively; 28,556,072 and 8,481,848 shares issued and outstanding at December 31, 2023 and 2022, respectively	2,856	849
Additional paid-in capital	88,610,832	64,533,074
Accumulated deficit	(83,856,681)	(63,799,379)
Total stockholders' equity	4,757,007	734,544
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 13,247,538	$ 4,215,213

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Accounts Receivable, Allowance for Credit Loss, Current	$ 10,272	$ 10,272
Preferred Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized (in shares)	5,000,000	5,000,000
Preferred Stock, Shares Outstanding (in shares)	0	0
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized (in shares)	250,000,000	20,000,000
Common Stock, Shares, Issued (in shares)	28,556,072	8,481,848
Common Stock, Shares, Outstanding (in shares)	28,556,072	8,481,848
Common Stock, Shares, Issued (in shares)	28,556,072	8,481,848

Consolidated Statement Of Opera

Consolidated Statement Of Operations - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
REVENUES
Product sales	$ 1,076,405	$ 1,375,760
COST OF PRODUCTS SOLD (exclusive of direct and indirect overhead and handling costs)	84,367	138,929
GROSS PROFIT	992,038	1,236,831
EXPENSES
Personnel	3,382,938	3,968,681
Research and development	14,181,769	8,999,543
Repairs and maintenance	14,091	11,019
Professional fees	1,943,757	2,417,017
Office and other	1,161,094	1,025,635
Board of Directors fees and costs	335,268	394,009
Depreciation	19,276	19,481
Freight and shipping	3,902	13,060
Credit loss expense	0	10,272
Total expenses	21,042,095	16,858,717
LOSS FROM OPERATIONS	(20,050,057)	(15,621,886)
OTHER INCOME
Investment and other income (expense), net	(7,245)	12,474
Gain on forgiveness of PPP loan	0	158,524
LOSS BEFORE PROVISION FOR INCOME TAXES	(20,057,302)	(15,450,888)
PROVISION FOR INCOME TAXES	0	0
NET LOSS	$ (20,057,302)	$ (15,450,888)
BASIC AND DILUTED NET LOSS PER COMMON SHARE (in dollars per share)	$ (1.23)	$ (1.83)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES BASIC AND DILUTED OUTSTANDING (in shares)	16,329,713	8,439,177
Paycheck Protection Program CARES Act [Member]
OTHER INCOME
Gain on forgiveness of PPP loan	$ 0	$ 158,524

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($)	Common Stock [Member] Share-Based Payment Arrangement, Employee [Member]	Common Stock [Member] Share-Based Payment Arrangement, Nonemployee [Member]	Common Stock [Member]	Additional Paid-in Capital [Member] Share-Based Payment Arrangement, Employee [Member]	Additional Paid-in Capital [Member] Share-Based Payment Arrangement, Nonemployee [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member] Share-Based Payment Arrangement, Employee [Member]	Retained Earnings [Member] Share-Based Payment Arrangement, Nonemployee [Member]	Retained Earnings [Member]	Share-Based Payment Arrangement, Employee [Member]	Share-Based Payment Arrangement, Nonemployee [Member]	Total
Balance (in shares) at Dec. 31, 2021			8,403,869
Balance at Dec. 31, 2021			$ 841			$ 64,019,513			$ (48,348,491)			$ 15,671,863
Stock issued to employees (in shares)	7,500
Stock issued to employees	$ 0			$ 15,750			$ 0			$ 15,750
Stock issued to nonemployees (in shares)		70,479
Stock issued to nonemployees		$ 8			$ 143,755						$ 143,763
Stock based compensation			0			354,056			0			354,056
Net loss			$ 0			0			(15,450,888)			$ (15,450,888)
Exercise of stock options (in shares)												0
Balance (in shares) at Dec. 31, 2022			8,481,848
Balance at Dec. 31, 2022			$ 849			64,533,074			(63,799,379)			$ 734,544
Stock issued to employees (in shares)	42,599
Stock issued to employees	$ 4			$ 39,613			$ 0			$ 39,617
Stock issued to nonemployees (in shares)		259,318
Stock issued to nonemployees		$ 26			$ 305,155			$ 0			$ 305,181
Stock based compensation			$ 0			390,108			0			390,108
Net loss									(20,057,302)			(20,057,302)
Sale of stock and warrants (in shares)			9,007,853
Sale of stock and warrants			$ 900			9,738,140			0			9,739,040
Issuance of stock in merger recapitalization (in shares)			4,795,306
Issuance of stock in merger recapitalization			$ 573			8,805,665						8,806,238
Sale of warrants						2,407,849						2,407,849
Exercise of warrants (in shares)			5,037,993
Exercise of warrants			$ 504			2,387,741			0			$ 2,388,245
Exercise of stock options (in shares)			1,155									1,155
Exercise of stock options			$ 0			1,478			0			$ 1,478
Assumed stock options in connection with merger recapitalization			$ 0			2,009			0			2,009
Balance (in shares) at Dec. 31, 2023			28,556,072
Balance at Dec. 31, 2023			$ 2,856			$ 88,610,832			$ (83,856,681)			$ 4,757,007
Sale of warrants			$ 930,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Net loss	$ (20,057,302)	$ (15,450,888)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	19,276	19,481
Gain on forgiveness of PPP loan	0	(158,524)
Credit loss expense	0	10,272
Provision for inventory obsolescence	52,922	0
Stock compensation to employees	39,617	15,750
Stock compensation to nonemployees	305,181	143,763
Stock-based compensation	392,117	354,056
Increase or decrease in:
Accounts receivable	(67,388)	427,850
Inventory	(52,783)	(27,054)
Prepaid clinical expenses	(105,525)	(189,669)
Prepaid insurance and services	41,201	(58,889)
Other	2,037	0
Accounts payable and accrued expenses	3,245,621	(200,389)
Total adjustments	3,872,276	336,647
NET CASH USED IN OPERATING ACTIVITIES	(16,185,026)	(15,114,241)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of furniture and equipment	(2,420)	(15,086)
Collections from mortgage note receivable	0	53,256
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES	(2,420)	38,170
CASH FLOWS FROM FINANCING ACTIVITIES
Net proceeds from sale of stock	9,739,040	0
Net proceeds from merger recapitalization	10,042,488	0
Merger recapitalization transaction costs	(688,480)
Exercise of stock options	1,478	0
Net from sale of warrants	2,407,849
Exercise of warrants	2,388,245	0
Payments on PPP loan	0	(8,159)
NET CASH PROVIDED BY FINANCING ACTIVITIES	23,890,620	6,778
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	7,703,174	(15,069,293)
CASH AND CASH EQUIVALENTS, beginning of year	1,543,418	16,612,711
CASH AND CASH EQUIVALENTS, end of year	9,246,592	1,543,418
us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	9,246,592	1,543,418
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid for interest	10,056	0
Issuance of common stock for services	344,798	159,513
Liabilities assumed, net of non-cash assets received in merger recapitalization	406,171	0
Paycheck Protection Program CARES Act [Member]
Adjustments to reconcile net loss to net cash used in operating activities:
Gain on forgiveness of PPP loan	0	(158,524)
CASH FLOWS FROM FINANCING ACTIVITIES
Refund of PPP loan payments	$ 0	$ 14,937

Note 1 - Organization and Descr

Note 1 - Organization and Description of Business	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Organization and Description of Business [Text Block]	(1) ORGANIZATION AND DESCRIPTION OF BUSINESS: Cyclo Therapeutics, Inc. (the “Company,” “we,” “our” or “us”) was incorporated in August 1990 as a Florida corporation, under the name Cyclodextrin Technologies Development, Inc. with operations beginning in July 1992. In conjunction with a restructuring in 2000, we changed our name to CTD Holdings, Inc. We changed our name to Cyclo Therapeutics, Inc. in September 2019 to better reflect our current business and on November 6, 2020, we reincorporated from the State of Florida to the State of Nevada. The Company entered into the previously defined merger agreement in September 2023, which was closed on December 27, 2023, in an all-stock transaction, as discussed in Note 10, Equity Transactions. On December 27, 2023, the Company, completed a strategic combination pursuant to that certain Agreement and Plan of Merger, dated as of September 21, 2023 (the "Merger Agreement”), by and among Cyclo, Cameo Merger Sub, Inc., a Delaware corporation and wholly owned subsidiary of Cyclo ("Merger Sub”), and Applied Molecular Transport Inc., a Delaware corporation ("AMTI”), providing for the merger of Merger Sub with and into AMTI, with AMTI surviving the merger as a wholly-owned subsidiary of Cyclo (the "Merger”) (see Note 12). We are a clinical stage biotechnology company that develops cyclodextrin-based products for the treatment of neurodegenerative diseases. We filed a Type II Drug Master File with the U.S. Food and Drug Administration (“FDA”) in 2014 for our lead drug candidate, Trappsol® Cyclo™ (hydroxypropyl beta cyclodextrin) as a treatment for Niemann-Pick Type C disease (“NPC”). NPC is a rare and fatal autosomal recessive genetic disease resulting in disrupted cholesterol metabolism that impacts the brain, lungs, liver, spleen, and other organs. In 2015, we launched an International Clinical Program for Trappsol® Cyclo™ as a treatment for NPC. In 2016, we filed an Investigational New Drug application (“IND”) with the FDA, which described our Phase I clinical plans for a randomized, double blind, parallel group study at a single clinical site in the U.S. The Phase I study evaluated the safety and pharmacokinetics of Trappsol® Cyclo™ along with markers of cholesterol metabolism and markers of NPC during a 12-week treatment period of intravenous administration of Trappsol® Cyclo™ every two weeks to participants 18 years of age and older. The IND was approved by the FDA in September 2016, and in January 2017 the FDA granted Fast Track designation to Trappsol® Cyclo™ for the treatment of NPC. Initial patient enrollment in the U.S. Phase I study commenced in September 2017, and in May 2020 we announced Top Line data showing a favorable safety and tolerability profile for Trappsol® Cyclo™ in this study. We have also completed a Phase I/II clinical study approved by European regulatory bodies with clinical trial centers in the United Kingdom, Sweden, and Israel. The Phase I/II study evaluated the safety, tolerability and efficacy of Trappsol® Cyclo™ through a range of clinical outcomes, including neurologic, respiratory, and measurements of cholesterol metabolism and markers of NPC. Consistent with the 12-week phase 1 study (single U.S. site), the European/Israel study administered Trappsol® Cyclo™ intravenously to NPC patients every two weeks in a double-blind, randomized trial, but differs in that the study period was for 48 weeks (24 doses). In March of 2021 we announced that 100% of patients who completed the trial (9 out of 12) improved or remained stable, and 89% met the efficacy outcome measure of improvement in at least two domains of the 17-domain NPC severity scale. Additionally, in February 2020 we had a face-to-face “Type C” meeting with the FDA with respect to the initiation of our pivotal Phase III clinical trial of Trappsol® Cyclo™ based on the clinical data obtained to date. At that meeting, we also discussed with the FDA submitting a New Drug Application under Section 505(b)(1) of the Federal Food, Drug, and Cosmetic Act for the treatment of NPC in pediatric and adult patients with Trappsol® Cyclo™. A similar request was submitted to the European Medicines Agency (“EMA”) in February 2020, seeking scientific advice and protocol assistance from the EMA for proceeding with a Phase III clinical trial in Europe. In October 2020 we received a “Study May Proceed” notification from the FDA with respect to the proposed Phase III clinical trial, and in June 2021 we commenced enrollment in TransportNPC, a pivotal Phase III study of Trappsol® Cyclo™ for the treatment of NPC. We are also exploring the use of cyclodextrins in the treatment of Alzheimer’s disease. In January 2018, the FDA authorized a single patient IND expanded access program using Trappsol® Cyclo™ for the treatment of Alzheimer’s disease. After 18 months of treatment in this geriatric patient with late-onset disease, the disease was stabilized and the drug was well tolerated. The patient also exhibited signs of improvement with less volatility and shorter latency in word-finding. We prepared a synopsis for an early stage protocol using Trappsol® Cyclo™ intravenously to treat Alzheimer’s disease that was presented to the FDA in January of 2021. We received feedback from the FDA on this synopsis in April 2021 and incorporated the feedback into an IND for a Phase II study for the treatment of Alzheimer’s disease with of Trappsol® Cyclo™ that we submitted to the FDA in November 2021. In December of 2021, we received IND clearance from the FDA, allowing us to proceed with our Phase II study of Trappsol® Cyclo™ for the treatment of Alzheimer’s disease. U.S. sites for the study were activated during the second half of 2022, with patient dosing beginning in the first quarter of 2023. We also continue to operate our legacy fine chemical business, consisting of the sale of cyclodextrins and related products to the pharmaceutical, nutritional, and other industries, primarily for use in diagnostics and specialty drugs. However, our core business has transitioned to a biotechnology company primarily focused on the development of cyclodextrin-based biopharmaceuticals for the treatment of disease from a business that had been primarily reselling basic cyclodextrin products. Going Concern and Liquidity For the years ended December 31, 2023 and 2022, the Company incurred net losses of $20,057,302 and $15,450,888 respectively. The Company has an accumulated deficit of $83,856,681 at December 31, 2023. Our recent losses have predominantly resulted from research and development expenses for our Trappsol® Cyclo™ product and other general operating expenses, including personnel expenses and board advisory fees. We believe our expenses will continue to increase as we continue to conduct clinical trials and seek regulatory approval for the use of Trappsol® Cyclo™ in the treatment of NPC and Alzheimer’s disease. For the year ended December 31, 2023, the Company’s operations used $16,185,026 in cash, and at December 31, 2023, the Company had a cash balance of $9,246,592 and working capital of $3,850,210. We will need to raise additional capital for the foreseeable future to fund the development of our drug product candidates through clinical development, manufacturing, and commercialization. We intend to continue to raise such capital through the sale of equity securities from time to time, the issuance of debt securities, the sale or licensing of existing assets or assets in development, or from other non-dilutive funding mechanisms. Our ability to obtain such additional capital will likely be subject to various factors, including our overall business performance and market conditions. If we cannot raise the additional funds required for our anticipated operations, we may be required to reduce the scope of or eliminate our research and development programs, delay our clinical trials and the ability to seek regulatory approvals, downsize our general and administrative infrastructure, or seek alternative measures to avoid insolvency. If we raise additional funds through future offerings of shares of our Common Stock or other securities, such offerings would cause dilution of current stockholders’ percentage ownership in the Company, which could be substantial. Future offerings also could have a material and adverse effect on the price of our Common Stock. Our consolidated financial statements for the years ended December 31, 2023 and 2022 were prepared on the basis of a going concern, which contemplates that we will be able to realize assets and discharge liabilities in the normal course of business. Our ability to continue as a going concern is dependent upon the availability of equity financing as noted above. These factors raise substantial doubt about our ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of these uncertainties.

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Significant Accounting Policies [Text Block]	(2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: The following is a summary of the more significant accounting policies of the Company that affect the accompanying consolidated financial statements: (a) BASIS OF PRESENTATION––The consolidated financial statements include the Company and its wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. (b) CASH AND CASH EQUIVALENTS––Cash and cash equivalents consist of cash and any highly liquid investments with an original purchased maturity of three months or less. Cash and cash equivalents primarily represents funds invested in readily available checking and money market accounts. The Company maintains deposits in financial institutions in excess of federally insured limits of $250,000, in the amount of approximately $9,247,000 at December 31, 2023. (c) ACCOUNTS RECEIVABLE––Accounts receivable are unsecured and non-interest bearing and stated at the amount we expect to collect from outstanding balances. Customer account balances with invoices dated over 90 days old are considered past due. The Company does not accrue interest on past-due accounts. Customer payments are allocated to the specific invoices identified on the customer’s remittance advice or, if unspecified, applied to the oldest unpaid invoices. Accounts receivable at January 1, 2022 were approximately $493,000. The carrying amount of accounts receivable is reduced by an allowance for credit losses that reflects management’s best estimate of expected credit losses. The Company reviews each customer balance where all or a portion of the balance exceeds 90 days from the invoice date. Based on the Company’s assessment of the customer’s current and forecasted creditworthiness, the Company estimates the portion, if any, of the balance that will not be collected, and writes off receivables as a charge to the allowance for credit losses when, in management’s estimation, it is probable that the receivable is worthless. The Company has estimated reserve for expected credit losses of $10,300 at December 31, 2023 (d) FINANCIAL INSTRUMENTS— In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (“CECL”). The amendments in this update introduce a new accounting model to measure credit losses for financial assets measured at amortized cost. The FASB has also issued additional ASUs to clarify the scope and provide additional guidance for ASU 2016-13. Credit losses for financial assets measured at amortized cost should be determined based on the total current expected credit losses over the life of the financial asset or group of financial assets. In effect, the financial asset or group of financial assets should be presented at the net amount expected to be collected. Credit losses will no longer be recorded under the current incurred loss model for financial assets measured at amortized cost. The amendments also modify the accounting for available-for-sale debt securities whereby credit losses will be recorded through an allowance for credit losses rather than a write-down to the security’s cost basis, which allows for reversals of credit losses when estimated credit losses decline. Credit losses for available-for-sale debt securities should be measured in a manner similar to current GAAP. The amendments are effective on January 1, 2023 for the Company, and must be applied using a modified retrospective approach with a cumulative-effect adjustment through retained earnings as of the beginning of the fiscal year upon adoption as required. While the standard modifies the measurement of the allowance for credit losses, it does not alter the credit risk of our trade receivables. There was no impact of applying the CECL methodology upon adoption effective on January 1, 2023. Under the CECL impairment model, the Company develops and documents its allowance for credit losses on its trade receivables based on one portfolio segments: domestic customers. The determination of portfolio segments is based primarily on the customers’ geographical location. Our quantitative allowance for credit loss estimates under CECL was determined using the method that uses an aging schedule. The Company also considers qualitative adjustments that may relate to unique risks, changes in current economic conditions that may not be reflected in quantitatively derived results, or other relevant factors to further inform our estimate of the allowance for credit losses. (e) INVENTORY AND COST OF PRODUCTS SOLD––Inventory consists of cyclodextrin products and chemical complexes purchased for resale recorded at the lower of cost (first-in, first-out) or net realizable value. Cost of products sold includes the acquisition cost of the products sold and does not include any allocation of inbound or outbound freight charges, indirect overhead expenses, warehouse and distribution expenses, or depreciation and amortization expense. The Company records a specific reserve for inventory items that are determined to be obsolete. The Company determined no The Company’s reserve for obsolete inventory is based on the Company’s best estimates of product sales and customer demands. It is reasonably possible that the estimates used by the Company to determine its provisions for inventory write-downs will be materially different from actual write-downs. These differences could result in materially higher than expected inventory provisions and related costs, which could have a materially adverse effect on the Company’s results of operations and financial condition in the near term. (f) PREPAID CLINICAL EXPENSES––Prepaid clinical expenses consist of our active pharmaceutical ingredients and other raw materials for our pharmaceutical drug Trappsol® Cyclo™ expected to be used in our clinical trial program recorded at cost. In addition, advance payments for goods or services for future research and development activities are included as prepaid clinical expenses. Prepaid clinical expenses are expensed as research and development costs as the goods are delivered or the related services are performed. (g) FURNITURE AND EQUIPMENT––Furniture and equipment are recorded at cost, less accumulated depreciation. Depreciation is computed using primarily the straight-line method over the estimated useful lives of the assets (generally three five seven ten (h) LEASES––The Company leases office and warehouse space. The Company determines if an arrangement is a lease at inception. Contracts containing a lease are further evaluated for classification as an operating or finance lease where the Company is a lessee, or as an operating, sales-type or direct financing lease where the Company is a lessor, based on their terms. Operating leases are included in right-of-use ("ROU") lease assets and lease liabilities on the Company’s consolidated balance sheets. The Company subleases office space under one existing lease to a third party. Sublease income is reported as other income in the consolidated statements of operations. There was no sublease income recognized in the year ended December 31, 2023 as the related lease was assumed on December 28, 2023 upon closing of the Merger Agreement discussed in Notes 1 and 12. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The lease ROU asset also includes any lease payments made and excludes lease incentives. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Variable lease payments are expensed as incurred. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. In evaluating contracts to determine if they qualify as a lease, the Company considers factors such as if the Company has obtained substantially all of the rights to the underlying asset through exclusivity, if it can direct the use of the asset by making decisions about how and for what purpose the asset will be used and if the lessor has substantive substitution rights. This evaluation may require significant judgment. (i) REVENUE RECOGNITION––Revenues are recognized when our customer obtains control of promised goods or services in an amount that reflects the consideration which we expect to receive in exchange for those goods or services. We recognize revenues following the five step model prescribed under Accounting Standards Update (“ASU”) No. 2014-09: (i) identify contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenues when (or as) we satisfy the performance obligation. Product revenues In the U.S., we sell our products to the end user or wholesale distributors. In other countries, we sell our products primarily to wholesale distributors and other third-party distribution partners. These customers subsequently resell our products to health care providers and patients. Revenues from product sales are recognized when the customer obtains control of our product, which occurs at a point in time, typically upon delivery to the customer. We expense incremental costs of obtaining a contract as and when incurred if the expected amortization period of the asset that we would have recognized is one year or less or the amount is immaterial. We treat shipping and handling costs performed after a customer obtains control of the product as a fulfillment cost. We have identified one performance obligation in our contracts with customers which is the delivery of product to our customers. The transaction price is recognized in full when we deliver the product to our customer, which is the point at which we have satisfied our performance obligation. For additional information on our revenues, please read Note 3, Revenues, to these consolidated financial statements. (j) SHIPPING AND HANDLING FEES––Shipping and handling fees, if billed to customers, are included in product sales. Shipping and handling costs associated with inbound and outbound freight are expensed as incurred and included in freight and shipping expense. (k) ADVERTISING––Advertising costs are charged to operations when incurred. We incur minimal advertising expenses. (l) RESEARCH AND DEVELOPMENT COSTS–– Research and development costs are either expensed as incurred. The Company records amounts paid in advance of the service being rendered as a prepaid asset, and the expense recognized when the service is performed. Research and development costs are primarily comprised of personnel-related expenses and external research and development expenses incurred under arrangements with third parties, such as contract research organizations and consultants. At the end of each reporting period, the Company compares the payments made to each service provider to the estimated progress towards completion of the related project. Factors that the Company considers in preparing these estimates include the number of patients enrolled in studies, milestones achieved, and other criteria related to the efforts of its vendors. These estimates will be subject to change as additional information becomes available. Depending on the timing of payments to vendors and estimated services provided, the Company will record net prepaid or accrued expenses related to these costs. Prepaid clinical expenses represent valid future economic benefits based on our contracts with our vendors and are realized in the ordinary course of business. (m) INCOME TAXES––Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective income tax bases. Deferred tax assets and liabilities are measured using enacted rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. In addition, tax benefits related to positions considered uncertain are recognized only when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions shall initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts. As of December 31, 2023 and 2022, the Company has recorded a full valuation allowance against its deferred tax assets. (n) NET LOSS PER COMMON SHARE––Basic and fully diluted net loss per common share is computed using a simple weighted average of common shares outstanding during the periods presented, as outstanding warrants to purchase 13,476,554 and 2,045,846 shares of common stock were antidilutive for the years ended December 31, 2023 and 2022, respectively. Additionally, outstanding options to purchase 899,820 and 425,646 shares of common stock were antidilutive for the years ended December 31, 2023 and 2022, respectively, and therefore also excluded. (o) STOCK-BASED COMPENSATION–– The Company periodically awards stock to employees, directors, and consultants. In the case of employees and consultants, an expense is recognized equal to the fair value of the stock determined using the closing trading price of the stock on the award date. With respect to directors, the Company accrues stock compensation expense on a quarterly basis based on the Company’s historical director compensation policies, and each quarter recognizes such expense based on the trading price of the common stock during such quarter. This expense is then trued up at the time the shares are issued to directors based on the trading price at the time of issuance. The Company periodically issues stock options under its 2021 Equity Incentive Plan. The Company uses the Black-Scholes valuation method to estimate the fair value of stock options at grant date. Compensation expense is recognized on the straight-line basis over the requisite service period, which is generally the vesting period. (p) FAIR VALUE MEASUREMENTS AND DISCLOSURES––Accounting Standards Codification (“ASC”) 820, "Fair Value Measurements and Disclosures," requires companies to determine fair value based on the price that would be received to sell the asset or paid to transfer the liability to a market participant. ASC 820 emphasizes that fair value is a market-based measurement, not an entity-specific measurement. The guidance requires that assets and liabilities carried at fair value be classified and disclosed in one of the following categories: ● Level 1: Quoted market prices in active markets for identical assets or liabilities. ● Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data. ● Level 3: Unobservable inputs that are not corroborated by market data. We have no assets or liabilities required to have their fair value measured on a recurring basis at December 31, 2023 or 2022. Long-lived assets are measured at fair value on a non-recurring basis and are subject to fair value adjustments when there is evidence of impairment. For short-term classes of our financial instruments, which include cash and cash equivalents, accounts receivable and accounts payable, and which are not reported at fair value, the carrying amounts approximate fair value due to their short-term nature. As December 31, 2023, money market funds were the only financial instrument measured and recorded at fair value on a recurring basis on the Company’s consolidated balance sheets. Money market funds were recorded within cash and cash equivalents. The following table present money market funds at their level within the fair value hierarchy for the periods indicated. There were no Fair Value Hierarchy Level Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Cash equivalents: ​ Money market funds invested in U.S. government obligations Level 1 $ 4,792,338 $ - $ - $ 4,792,338 Total $ 4,792,338 $ - $ - $ 4,792,338 (q) USE OF ESTIMATES––The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions, including regarding contingencies, that affect the amounts reported in the consolidated financial statements and accompanying notes. The Company’s most significant estimates relate to inventory obsolescence, stock-based compensation, warrant liability valuation, fair value of warrants issued, assumed liabilities associated with Merger (see Note 12), and allowance for credit losses. Although management bases its estimates on historical experience and assumptions that are believed to be reasonable under the circumstances, actual results could significantly differ from these estimates. (r) RECENT ACCOUNTING PRONOUNCEMENTS–– In June 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-13, “Financial Instruments – Credit Losses” (Topic 326), which provides guidance on how an entity should measure credit losses on financial instruments. The standard amends the impairment model by requiring entities to use a forward-looking approach based on expected losses to estimate credit losses for most financial assets and certain other instruments that aren’t measured at fair value through net income. The ASU is effective for smaller reporting companies in the first quarter of 2023. The Company adopted the new guidance as of January 1, 2023, and it did not have a material impact on its consolidated financial statements. In August 2020, the FASB issued ASU 2020-06, "Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815–40)"(“ASU 2020-06”). ASU 2020-06 simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity’s own equity. The ASU 2020-06 amendments are effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The Company adopted this standard as of January 1, 2023, and determined no material impact on its consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740) - Improvements to Income Tax Disclosures." The new guidance is intended to enhance the transparency and decision usefulness of income tax disclosures by requiring disaggregated information about a reporting entity's effective tax rate reconciliation and information on income taxes paid. The amendment is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The amendment in this update should be applied on a prospective basis, with retrospective application permitted. The Company is in the process of evaluating the impact that the adoption of ASU 2023-09 will have on the consolidated financial statements and related disclosures. In June 2022, the FASB issued ASU No. 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions (“ASU 2022-03”) which clarifies guidance for fair value measurement of an equity security subject to a contractual sale restriction and establishes new disclosure requirements for such equity securities. ASU 2022-03 is effective for fiscal years beginning after December 15, 2023 and for interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact of ASU 2022-03 on its consolidated financial statements. (s) WARRANTS–– The Company accounts for its warrants as either equity-classified or liability-classified instruments based on an assessment of the specific terms of the warrants considering the authoritative guidance in ASC 480 , , , , .

Note 3 - Revenues

Note 3 - Revenues	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	(3) REVENUES: The Company operates in one The Company considers there to be revenue concentration risks for regions where net product revenues exceed 10% of consolidated net product revenues. During 2023, approximately 12% of the Company’s net product revenues were made to foreign customers. Based on geographical, there were no revenue concentrations in 2022. The concentration of the Company’s net product revenues within the regions below may have a material adverse effect on the Company’s revenues and results of operations if sales in the respective regions experience difficulties. As of December 31, 2023, approximately 39% of the Company’s total accounts receivable were due from one foreign customer. There were no concentrations of accounts receivable from foreign customers as of December 31, 2022. Revenues by product are summarized as follows: Years Ended December 31, 2023 2022 Trappsol® Cyclo™ $ 1,282 $ 5,118 Trappsol® HPB 649,863 851,756 Trappsol® Fine Chemical 411,404 501,295 Aquaplex® 10,216 5,460 Other 3,640 12,131 Total revenues $ 1,076,405 $ 1,375,760

Note 4 - Major Customers and Su

Note 4 - Major Customers and Suppliers	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Major Customers and Suppliers Disclosure [Text Block]	(4) MAJOR CUSTOMERS AND SUPPLIERS: Our revenues are derived primarily from chemical supply and pharmaceutical companies located primarily in the United States and Canada. In 2023, two three three three Substantially all inventory purchases were from four For the years ended December 31, 2023 and 2022, the product mix of our revenues consisted of 99% basic natural and chemically modified cyclodextrins and 1% cyclodextrin complexes.

Note 5 - Concentrations of Cred

Note 5 - Concentrations of Credit Risk	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	(5) CONCENTRATIONS OF CREDIT RISK: Significant concentrations of credit risk for all financial instruments owned by the Company are as follows: The Company's financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. Cash equivalents represent highly liquid investments with maturities of 90 days or less at the date of purchase. Credit risk related to cash and cash equivalents is based on the creditworthiness of the financial institutions at which these funds are held. The Company has cash balances at financial institutions which throughout the year may exceed the federally insured limit of $250,000. 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. To reduce its risk associated with the failure of such financial institution, the Company evaluates the rating of the financial institution in which it holds deposits. Any material loss that the Company may experience in the future could have an adverse effect on its ability to pay its operational expenses or make other payments and may require the Company to move its cash to other high quality financial institutions. Currently, the Company is reviewing its bank relationships in order to mitigate its risk to ensure that its exposure is limited or reduced to the Federal Deposit Insurance Corporation protection limits. The Company extends credit to customers in the normal course of business. Concentrations of credit risk with respect to accounts receivable exist to the full extent of amounts presented in the consolidated financial statements. The Company does not require collateral from its customers to secure accounts receivable. The Company has no significant off-balance sheet risk such as foreign exchange contracts, option contracts, or other hedging arrangements.

Note 6 - Furniture and Equipmen

Note 6 - Furniture and Equipment	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	(6) FURNITURE AND EQUIPMENT: Furniture and equipment consist of the following as of December 31: 2023 2022 Machinery and equipment $ 75,137 $ 75,137 Office furniture 84,010 81,590 159,147 156,727 Less: accumulated depreciation 120,815 101,539 Furniture and equipment, net $ 38,332 $ 55,188 Depreciation expense for the years ended December 31, 2023 and 2022 was $19,276 and $19,481, respectively.

Note 7 - Accounts Payable and A

Note 7 - Accounts Payable and Accrued Expenses	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	(7) ACCOUNTS PAYABLE AND ACCRUED EXPENSES: Accounts payable and accrued expenses consist of the following as of December 31: Years Ended December 31, 2023 2022 Accounts payable $ 4,856,530 $ 2,233,894 Accrued bonus compensation 1,590,776 902,614 Accrued board expense 92,110 72,125 Sub-lease deposit liability 243,742 - Merger liabilities 487,402 - Other 186,856 272,036 Total accounts payable and accrued expenses $ 7,457,416 $ 3,480,669

Note 8 - Leases

Note 8 - Leases	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	(8) LEASES: The Company entered into an operating lease in January 2023 for office and warehouse space, which has a lease term expiring in January 2026, with an option to extend for an additional three At the closing of the Merger Agreement as discussed in Notes 1 and 12, the Company assumed an operating lease for office space which is being subleased to a third party. The lease and sublease agreement expire in August 2024. Right-of-use lease assets are recorded net of accumulated amortization of $17,242 and $66,552 as of December 31, 2023 and 2022, respectively. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Lease expense was $28,353 and $16,166 for the years ended December 31, 2023 and 2022, respectively. There was no Other information related to leases for the years ended December 31, 2023 and 2022 was as follows: 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: $ 17,000 $ 19,800 Operating lease assets obtained in merger recapitalization 850,542 - Operating lease liability assumed in merger recapitalization 992,141 - Weighted-average remaining lease term—operating leases (in years) .72 .08 Weighted-average discount rate—operating leases 3 % 6 % Future sublease income for the year ending December 31, 2024 is $1,390,024. Future minimum lease payments under non-cancellable operating leases as of December 31, 2023 were as follows: Year Ending December 31, Amount 2024 $ 1,020,604 2025 21,590 2026 1,804 Total future minimum lease payments 1,043,998 Less: Imputed interest (10,883 ) $ 1,033,115

Note 9 - Note Payable

Note 9 - Note Payable	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Debt Disclosure [Text Block]	(9) NOTE PAYABLE: On May 4, 2020, the Company’s wholly owned subsidiary, Cyclodextrin Technologies Development, Inc., borrowed $158,524 from BBVA USA under the Paycheck Protection Program ("PPP") which was established under the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”). The loan matured on May 4, 2022 and bore interest at a rate of 1% per annum, payable monthly commencing on September 5, 2021. Under the PPP, because the loan was used to fund certain qualifying expenses as described in the CARES Act, the full amount of the loan, including accrued interest was forgiven in March 2022. As a result, the balance forgiven is presented separately as gain on the forgiveness of PPP loan in the accompanying consolidated statement of operations.

Note 10 - Equity Transactions

Note 10 - Equity Transactions	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Equity [Text Block]	(10) EQUITY TRANSACTIONS: On March 3, 2023, and December 26, 2023, following the approval of the Company’s stockholders at special meetings, the Company’s Articles of Incorporation were amended to increase the number of authorized shares of common stock from 20,000,000 to 50,000,000 and then from 50,000,000 to 250,000,000, respectively. In 2023, the Company did not In 2023, the Company did not not The Company accrues board compensation expense over the period earned. Board compensation expense for board members is included in “Board of Directors fees and costs” on our consolidated statement of operations. In 2023, the Company issued 259,318 shares to board members with a value of $305,181, at the time of issuance, in addition to $30,750 of accrued stock compensation as of December 31, 2022. In 2022, the Company issued 65,479 shares to board members with a value of $133,263, at the time of issuance, in addition to $41,004 of accrued compensation of December 31, 2021. On January 3, 2023, the Company sold to an institutional investor in a registered direct offering 930,000 shares of common stock at a purchase price per share of $1.61, and prefunded warrants to purchase up to an aggregate of 1,678,696 shares of common stock at a purchase price of $1.61 per pre-funded warrant. The pre-funded warrants have an exercise price of $0.0001 per share and remain exercisable until exercised in full. In a concurrent private placement, the Company also issued to the investor Series A-1 warrants to purchase up to 2,608,696 shares of common stock at an exercise price of $1.36 per share, exercisable for a period of five three The Company classified the fair value of the warrants as equity because they are indexed to its own stock and meet the conditions necessary for equity classification in accordance with the guidance in ASC Subtopic 815-40 on derivatives and hedging. H.C. Wainwright & Co., LLC acted as placement agent to the Company in connection with the registered direct offering and concurrent private placement and was paid a cash fee equal to 7.5% of the gross proceeds of the offering, a management fee equal to 1.0% of the gross proceeds of the offering, and was reimbursed by the Company for its non-accountable expenses in the amount of $35,000, for fees and expenses of its legal counsel, for other out-of-pocket expenses in the amount of $50,000, and for its clearing expenses in the amount of $15,950. The Company also issued to designees of the placement agent five-year On January 25, 2023, the investor exercised a portion of its pre-funded warrants and acquired 400,696 shares of common stock for an aggregate exercise price of $40, and on February 27, 2023, the investor exercised an additional portion of its pre-funded warrants and acquired 741,000 shares of common stock for an aggregate exercise price of $74. On April 3, 2023, the investor exercised the remaining balance of pre-funded warrants and acquired 537,000 shares of common stock for an aggregate exercise price of $54. On April 20, 2023, the Company, completed a private placement of its securities priced at-the-market under the rules of The Nasdaq Stock Market, Inc., to a group of accredited investors that included several directors of the Company and members of management and their affiliates. Investors in the private placement purchased 1,562,883 shares of common and were issued warrants to purchase 1,562,883 shares of common stock. The purchase price for one share of common stock and a warrant to purchase one share of common stock was $0.835. The warrants have an exercise price of $0.71 and have a term of seven On May 2, 2023, the Company completed the private placement of its securities to Rafael Holdings, Inc. (“Rafael Holdings”), a Delaware corporation, in which it purchased 2,514,970 shares of common stock, and a warrant to purchase an additional 2,514,970 shares of common stock for an aggregate purchase price of $2,100,000. The warrant has an exercise price of $0.71 per share, and is exercisable for the seven-year On August 1, 2023, the Company completed an additional private placement of its securities to Rafael Holdings pursuant to a securities purchase agreement between the Company and Rafael Holdings dated June 1, 2023. Rafael Holdings purchased 4,000,000 shares of common stock and a seven-year On October 20, 2023, the Company entered into a security purchase agreement with certain investors of the April and May 2023 private placement. The investors exercised warrants to purchase 3,359,297 shares of common stock and the gross proceeds were $2,388,077. In exchange, the investors received new warrants with an exercise price equal to $0.95 per share, to purchase 110% of the number of shares of the Company’s common stock covered under the original warrants. The new warrants will be exercisable for cash only and have a term of four years from the issuance date. The Company determined the fair value of the warrants was $2,387,117 using the following inputs to the Black-Scholes pricing model: stock price $0.95, exercise price $0.95, life 4 years, dividend rate -0-, risk free interest rate 4.86 and volatility 92.6%. The fair value was deemed to be a cost of capital and was included in equity. The investors include Rafael Holdings, a significant shareholder of the Company, several directors of the Company and management. On December 27, 2023, the Company completed a strategic combination with Applied Molecular Transport, Inc. See Note 12. Warrants The following table presents the number of common stock warrants outstanding: Warrants outstanding, December 31, 2021 2,048,186 Issued - Exercised - Expired (2,340 ) Warrants outstanding, December 31, 2022 2,045,846 Issued 18,825,700 Exercised (5,037,993 ) Expired (87,707 ) Warrants outstanding, December 31, 2023 15,745,846 The following table presents the number of common stock warrants outstanding, their exercise price, and expiration dates at December 31, 2023: Warrants Issued Exercise Price Expiration Date 58,930 $ 35 February 2024 2,400 $ 25 October 2024 57,600 $ 25 October 2024 302,379 $ 9.37 November 2024 80,000 $ 25 April 2025 35,200 $ 65 December 2025 2,223 $ 11 September 2025 283,111 $ 15 August 2027 1,078,796 $ 5 December 2025 57,500 $ 6.25 December 2025 2,608,596 $ 1.36 January 2026 156,522 $ 2.02 December 2027 2,608,596 1.36 January 2028 3,695,227 $ 0.95 October 2028 718,566 $ 0.71 April 2030 4,000,000 $ 1.25 August 2030 15,745,846 In addition, there are currently outstanding seven-year

Note 11 - Preferred Stock

Note 11 - Preferred Stock	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Preferred Stock [Text Block]	(11) PREFERRED STOCK: The Company’s Articles of Incorporation provide for 5,000,000 shares of “blank check” preferred stock. At December 31, 2023 and 2022, no

Note 12 - Merger With Applied M

Note 12 - Merger With Applied Molecular Transport Inc	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Business Combination Disclosure [Text Block]	(12) MERGER WITH APPLIED MOLECULAR TRANSPORT INC.: On December 27, 2023, the Company, completed a strategic combination pursuant to that certain Agreement and Plan of Merger, dated as of September 21, 2023 (the "Merger Agreement”), by and among the Company, Cameo Merger Sub, Inc., a Delaware corporation and wholly owned subsidiary of the Company ("Merger Sub”), and Applied Molecular Transport Inc., a Delaware corporation ("AMTI”), providing for the merger of Merger Sub with and into AMTI, with AMTI surviving the merger as a wholly-owned subsidiary of the Company (the "Merger”). At the closing of the Merger each share of common stock of AMTI that was issued and outstanding immediately prior to the closing (other than (i) treasury shares, and (ii) any shares of AMTI common stock held directly by the Company or Merger Sub) was automatically converted into the right to receive a number of shares of common stock of the Company equal to 0.1331 (the "Exchange Ratio”). No fractional shares of the Company’s common stock were issued in connection with the Merger and the number of shares of the Company’s common stock issued to the AMTI stockholders was rounded up to the nearest whole share. Each option to purchase shares of AMTI common stock that was outstanding immediately prior to the closing and had an exercise price per share equal to or less than $0.40 was automatically assumed and converted as of the closing into an option to acquire, on substantially similar terms and conditions as were applicable under such AMTI option, the number of shares of the Company’s common stock determined by multiplying the number of shares of AMTI common stock subject to such AMTI option immediately prior to the closing by the Exchange Ratio (rounded down to the nearest whole share) with an exercise price per share equal to the exercise price per share of such AMTI option immediately prior to the closing, divided by the Exchange Ratio (rounded up to the nearest whole cent). Each AMTI option that was outstanding immediately prior to the closing and had an exercise price per share greater than $0.40 was automatically cancelled and extinguished for no consideration. The Merger has been accounted for as a recapitalization of the Company, as the transaction is, in essence, an exchange of the Company’s common shares for cash and cash equivalents and the assumption of minimal assets and liabilities. At closing, the Company assumed an existing AMTI building lease and related sublease. The lease is reported as a right-of-use asset and related lease liability, approximating $851,000 and $992,000, respectively. The following table summarizes the assets and liabilities assumed in the recapitalization merger: Cash and cash equivalents $ 10,042,488 Right-of-use lease asset 850,542 Security deposit 127,111 Prepaids and other assets 197,844 Lease liability (992,141 ) Sub-lease deposit liability (243,724 ) Other liabilities (487,402 ) Net assets $ 9,494,718 Proceeds from the merger, net of issuance costs of $688,480, were $9,354,008. The Company issued approximately 5,725,306 shares of its common stock and 108,875 stock options to the former AMTI stockholders in conjunction with the Merger. The issuance of the Company’s common stock was registered under the Securities Act of 1933, as amended (the "Securities Act”) pursuant to a registration statement on Form S-4 (File No. 333-275371) (the "Registration Statement”) filed by the Company with the U.S. Securities and Exchange Commission (the "SEC”) and declared effective on November 21, 2023 (the "Registration Statement”). The shares of AMTI common stock, which previously traded under the symbol "AMTI,” ceased trading on the Nasdaq Capital Market ("Nasdaq”) as of the close of trading on December 26, 2023 and were delisted from Nasdaq as of December 27, 2023. In December 2023, two lawsuits were filed against AMTI in connection with the Merger. The Company has accrued an estimate of potential liability based on the best information available. While the outcome remains uncertain, the Company does not expect the lawsuits to have a material adverse effect on cash flows, financial condition, or results of operations.

Note 13 - Income Taxes

Note 13 - Income Taxes	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Income Tax Disclosure [Text Block]	(13) INCOME TAXES: Deferred income taxes reflect the net tax effects of temporary differences between carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Realization of net deferred tax assets is dependent upon future earnings, if any, the timing and amount of which are uncertain Under ASC 740, deferred tax assets must be reduced by a valuation allowance if it is likely that all or a portion of it will not be realized. At December 31, 2023, we have determined it is more likely than not that we will not realize our temporary deductible differences and net operating loss carryforwards, and have provided a 100% valuation allowance on our net deferred tax asset. Positive evidence we evaluated in the order of significance and weighting in our evaluation includes the amount of net operating loss carryforward utilized against current income tax liabilities in four of the prior ten years, and the length of time the net operating loss carryforwards are available before they expire. Negative evidence we considered in the order of significance and weighting in our evaluation include our recent net losses, our plans for continued clinical trial and product development expenses, the timing of expiration of the net operating loss carryforwards prior to being utilized, unpredictability of future sales and profitability, competition from others, and new government regulations. We determined greatest weight should be given to our plans for continued clinical trial and product development expenses, trend of increasing expenses, and net operating losses in our evaluation. We re-measure our valuation allowance each quarter based on changes in our current and expected future sales and margins, and changes in the other factors of both positive and negative evidence. At December 31, 2023, we have unused federal and state net operating loss carryforwards totaling approximately $49,807,000 that may be applied against future taxable income. If not used, the net operating loss carryforwards will expire as follows: Year Ending December 31, Amount 2024 $ 66,000 2028 7,000 2030 160,000 2031 73,000 2032 48,000 2034 727,000 2035 1,969,000 2036 2,867,000 2037 2,481,000 Indefinite 41,409,000 Total $ 49,807,000 The utilization of NOLs and tax credit carryforwards to offset future taxable income may be subject to an annual limitation as a result of ownership changes that have occurred previously or may occur in the future. Under Sections 382 and 383 of the Internal Revenue Code (“IRC”), a corporation that undergoes an ownership change may be subject to limitations on its ability to utilize its pre-change NOLs and other tax attributes otherwise available to offset future taxable income and/or tax liability. An ownership change is defined as a cumulative change of 50% or more in the ownership positions of certain stockholders during a rolling three-year period. The Company has not completed a formal study to determine if any ownership changes within the meaning of IRC Sections 382 and 383 have occurred. If an ownership change has occurred, the Company’s ability to use its NOLs or tax credit carryforwards may be restricted, which could require the Company to pay federal or state income taxes earlier than would be required if such limitations were not in effect. The Company has expenses that qualify for the Orphan Drug Credit. The Orphan Drug Credit may be used to offset any current tax liabilities. Unused credits may be carried forward for 20 years. If the credit has not been used by the end of the 20 year carryforward period, it can be deducted as an expense for federal income tax purposes. The cumulative unused credit carryforward was $13,900,000 at December 31, 2023, which is reduced by an uncertain tax position of $6,950,000 as the Company has not as of yet performed a study of related expenses. For 2023 we did not not Significant components of our deferred federal income taxes were as follows: 2023 2022 Deferred tax assets: Net operating loss carryforwards $ 12,624,000 $ 10,761,000 Tax credits, net 6,950,000 10,354,000 Impairment allowances 3,000 19,000 Stock-based compensation 68,000 45,000 Other 167,000 105,000 Accrued bonuses 242,000 245,000 Accrued legal 95,000 - Lease liabilities 262,000 - Research and development expenses, net 4,646,000 1,642,000 Less valuation allowance (24,827,000 ) (23,167,000 ) Deferred tax asset, net of valuation 230,000 4,000 Deferred tax liabilities: Property and equipment (3,000 ) (4,000 ) Right-of-use assets (227,000 ) - Deferred tax liabilities (230,000 ) (4,000 ) Net tax assets $ - $ - The differences between the effective income tax rate reflected in the benefit (provision) for income taxes and the amounts, which would be determined by applying federal statutory income tax rate of 21% at December 31, 2023 and 2022, are summarized as follows: 2023 2022 Tax benefit (expense) at federal statutory rate 21 % 21 % Effect of state taxes 4 % 3 % Other 1 % - % Tax credits, net of reserve (17 )% 15 % Nondeductible expenses (1 )% (3 )% Valuation allowance – deferred tax assets (8 )% (36 )% Total tax benefit (provision) $ - $ - The Company files income tax returns in the U.S. federal jurisdiction and three states. The Company is subject to U.S. federal and state income tax examination for calendar tax years beginning in 2004 due to NOLs that are being carried forward for tax purposes. Effective for tax years beginning after December 31, 2021, taxpayers are required to capitalize any expenses they incurred that are considered incidental to research and experimentation (“R&E”) activities under IRC Section 174. While taxpayers historically had the option of deducting these expenses under IRC Section 174, the Tax Act mandates capitalization and amortization beginning with tax years after December 31, 2021. Expenses incurred in connection with R&E activities must 83 Table of Contents be amortized over a 5-year period if incurred in the US or over a 15-year period if incurred outside of the United States. R&E activities are broader in scope than the calculation of qualified research activities under IRC Section 41 (for research and development tax credit purposes). For the year ended December 31, 2022, the Company performed an analysis based on all the guidance available and has determined that it will continue to be in a loss position after considering the R&E capitalization. The Company will continue to monitor the effects of this legislation, however, the Company does not expect to pay cash taxes as a result of this change as the remaining operating expenses excluding R&E expense are significant and expect to continue to generate losses for tax purposes in the near future. The Company has reviewed and evaluated the relevant technical merits of each of its tax positions in accordance with accounting principles generally accepted in the United States of America for accounting for uncertainty in income taxes. The following table summarizes our changes in uncertain tax positions: 2023 2022 Balance, January 1 $ - $ - Additions based on tax positions related to the current year 6,950,000 - Balance, December 31 $ 6,950,000 $ - When applicable, interest and penalties will be reflected as a component of income tax expense. The Company does not anticipate any significant change within twelve months of this reporting date.

Note 14 - Employee Benefit Plan

Note 14 - Employee Benefit Plan	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Retirement Benefits [Text Block]	(14) EMPLOYEE BENEFIT PLAN: The Company’s employees who have satisfied certain eligibility requirements are entitled to participate in a 401(k) plan through the Company’s professional employer organization. Employee contributions are discretionary. The Company may match employee contributions and may also make discretionary contributions for all eligible employees based upon their total compensation. For 2023 and 2022, the Company elected to match the employee’s contribution, not to exceed 4% of compensation. The Company’s 401(k) contributions were $66,505 and $61,168 for 2023 and 2022, respectively.

Note 15 - Equity Incentive Plan

Note 15 - Equity Incentive Plans	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	(15) EQUITY INCENTIVE PLANS: On August 29, 2019, the Company’s stockholders approved the Company’s 2019 Omnibus Equity Incentive Plan at a special meeting of stockholders (the “2019 Plan”). The 2019 Plan provides for the issuance of up to 68,437 shares of common stock pursuant to the grant of shares of common stock, stock options or other awards, to employees, officers or directors of, and consultants to, the Company and its subsidiary. Options granted under the Incentive Plan may either be intended to qualify as incentive stock options under the Internal Revenue Code of 1986, or may be non-qualified options, and are exercisable over periods not exceeding ten On June 24, 2021, the Company’s stockholders approved the Company’s 2021 Equity Incentive Plan at its annual meeting of stockholders (the “2021 Plan”). The 2021 Plan provides for the issuance of up to 3,000,000 shares of common stock pursuant to the grant of shares of common stock, stock options or other awards, to employees, officers or directors of, and consultants to, the Company and its subsidiary. Options granted under the Incentive Plan may either be intended to qualify as incentive stock options under the Internal Revenue Code of 1986, or may be non-qualified options, and are exercisable over periods not exceeding ten The Company uses the Black-Scholes valuation model to estimate the fair value of stock options at grant date. This valuation model uses the option exercise price as well as estimates and assumptions related to the expected price volatility of the Company’s stock, the rate of return on risk-free investments, the expected period during which the options will be outstanding, and the expected dividend yield for the Company’s common stock to estimate the fair value of a stock option at the date of grant. The valuation assumptions were determined as follows: ● Expected stock price volatility: ● Risk-free interest rate: ● Expected term of options: ● Expected annual dividends: Share-based compensation expense is recorded on a straight-line basis over the requisite service period, which is generally the vesting period. The following table summarizes weighted-average assumptions used in our calculations of fair value for the years ended December 31, 2023 and 2022: ​ 2023 2022 Dividend yield -% -% Expected volatility 100.27 – 103.58% 90.5 – 92.3% Risk-free interest rate 3.36 – 5.36% 1.83 – 2.76% Expected lives (years) 1 - 6.25 5 - 6.25 The weighted-average fair value of options granted during the year ended December 31, 2023, as determined under the Black-Scholes valuation model, was $0.69 - $1.06 per share. The weighted-average fair value of options granted during the year ended December 31, 2022, as determined under the Black-Scholes valuation model, was $1.60 - $2.47 per share. In conjunction with the merger of AMTI the Company assumed 108,875 stock option which were valued using the Black-Sholes option pricing model. The fair value of the stock options assumed were estimated using the following assumptions: Dividend yield - % Expected volatility 93.3 % Risk-free interest rate 4.79 % Expected lives (years) 1 The estimated total fair value of the AMTI options assumed was not material to the 2023 consolidated financial statements. The following is a summary of the stock option activity for the years ended December 31, 2023 and 2022: ​ ​ ​ Weighted ​ Weighted ​ ​ ​ Average Aggregate Average ​ ​ ​ Exercise Intrinsic Remaining ​ Shares ​ Price Value Contractual Life Stock options outstanding at December 31, 2021 222,700 ​ $ 7.45 ​ $ - ​ 9.7 Granted 226,746 ​ 3.18 ​ - ​ Exercised - ​ - $ - Expired - ​ - $ - Forfeited (23,800 ) ​ - - Stock options outstanding at December 31, 2022 425,646 5.17 ​ $ - ​ 8.9 Granted 459,281 1.91 ​ - Options assumed 108,875 2.96 Exercised (1,155 ) ​ 1.28 ​ $ - ​ ​ Expired - ​ - Forfeited (92,827 ) ​ 3.15 ​ - ​ ​ Stock options outstanding at December 31, 2023 899,820 ​ $ 3.12 ​ $ - ​ 7.7 Stock options exercisable at December 31, 2023 465,566 ​ $ 3.68 ​ $ - ​ 6.7 Unrecognized compensation expense related to unvested stock options was $862,605 as of December 31, 2023, which is expected to be recognized over a weighted-average period of 7.7 years and will be adjusted for forfeitures as they occur.

Note 16 - Net Loss Per Share

Note 16 - Net Loss Per Share	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Earnings Per Share [Text Block]	(16) NET LOSS PER SHARE: The following table sets forth the computation of basic and diluted net loss per common share: Years Ended December 31, 2023 2022 Numerator Net loss $ (20,057,302 ) $ (15,450,888 ) Denominator Weighted-average common shares outstanding, basic and diluted 16,329,713 8,439,177 Net loss per share, basic and diluted $ (1.23 ) $ (1.83 ) The Company reported a net loss in 2023 and 2022, therefore, the basic and diluted net loss per share are the same in the respective periods because of the inclusion of potential common shares would have an anti-dilutive effect. Potential shares of common stock that are excluded from the computation of diluted weighted-average shares outstanding are as follows: Years Ended December 31, 2022 2021 Stock options 899,820 425,646 Warrants 13,476,553 2,045,846

Note 17 - Commitments and Conti

Note 17 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	(17) COMMITMENTS AND CONTINGENCIES: From time to time, the Company is a party to claims and legal proceedings arising in the ordinary course of business. Our management evaluates our exposure to these claims and proceedings individually and in the aggregate and records an expense for potential losses on such litigation if it is possible to estimate the amount of loss and if the amount of the loss is probable. The Company has employment agreements with its executive officers. As of December 31, 2023, these agreements provide that if an executive is terminated without cause, he will be eligible for the following severance benefits, subject to his execution of a release of claims in a form reasonably satisfactory to the Company. In the event of a termination of employment by the Company without cause, the executive will be entitled to receive unpaid base salary computed on a pro rata basis to the termination date and any other benefits as required by applicable law (collectively, “Accrued Amounts”). In addition, the executive will receive (i) an amount equal to his annual salary, as in effect on the termination date payable for a period of one year on the same terms and frequency as his base salary was paid prior to termination, (ii) reimbursement for all COBRA expenses for the twelve month period following the termination, which will reimbursed on a monthly basis and (iii) any bonus payments earned by the executive, but not paid prior to the termination date (collectively, the “Severance Payments”) (collectively, the Accrued Amounts, plus the Severance Payments shall be referred to as the “Severance Benefits”). In addition, if the CEO is terminated without cause, all unvested equity awards granted to the CEO will automatically be accelerated on the termination date In addition, if the employment of the executive officers is terminated by the Company without “cause” within 12 months following a change in control (as defined in the agreement), then in addition to the Severance Benefits, each executive is also eligible to receive full acceleration of any unvested equity awards that were awarded to the executive. In connection with an agreement executed in January 2022 with Ashland, Inc., the Company committed to purchase minimum amounts of goods used in its normal operations based on completion of certain milestones. The first two milestones were met during 2023 and $980,000 of the goods were purchased and received. The Company was invoiced for the second milestone in the amount of $980,000, although the goods were not received prior to year-end. Future annual minimum purchases remaining under the agreement are $980,000.

Note 18 - Related Party Transac

Note 18 - Related Party Transactions	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	(18) RELATED PARTY TRANSACTIONS: Since October 2016, we have paid a monthly fee of $5,000 a portion of this which was paid in shares for the year 2023 to C.E. Rick Strattan, in consideration of consulting services provided to us by Mr. Strattan. Mr. Strattan is our founder, former Chief Executive Officer and one of our directors. In June 2019, we engaged Joshua M. Fine, the son of our Chief Executive Officer, to serve as our Chief Financial Officer. Mr. Fine received an annual salary of $335,780 in both 2023 and 2022. In addition, he was awarded a cash bonus of $134,312 in both 2023 and 2022. Joshua Fine was awarded stock options with a value of $42,808 in 2023 and $82,846 in 2022 that vest over 4 years. Kevin J. Strattan, the son of C.E. Rick Strattan, has been employed by us since 2008, and since 2014 has been our Vice President, Finance – Compensation. His annual salary was $180,250 in both 2023 and 2022. In addition, he received cash bonuses of $54,075 in both 2023 and 2022. In 2023 and 2022 Mr. Strattan was also awarded stock options with a value of $21,140 and $44,782, respectively, that vest over 4 years. Corey E. Strattan, the daughter-in-law of C.E. Rick Strattan, has been employed by us since 2011 as a documentation specialist and logistics coordinator, at an annual salary of $92,700 in 2023. In addition, she received a cash bonus of $13,905 in 2023. In 2022, Ms. Strattan received an annual salary of $92,700 and a cash bonus of $13,905. On April 20, 2023, Scott Fine, Chief Executive Officer and certain board members and affiliates purchased 784,436 shares of common stock and we issued 784,436 warrants to purchase 784,436 shares of common stock. See Note 9, Equity Transactions for more information. On October 20, 2023, Scott Fine, Chief Executive Officer and certain board members and affiliates exercised warrants and in exchange were issued new warrants. Please read Note 10, Equity Transactions, for more information.

Note 19 - Subsequent Events

Note 19 - Subsequent Events	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Subsequent Events [Text Block]	(19) SUBSEQUENT EVENTS: On January 17, 2024, the Company received a notice (the "Compliance Letter”) from the Office of General Counsel of The Nasdaq Stock Market LLC ("Nasdaq”) informing the Company that its deficiency under Listing Rule 5550(b) had been cured and the Company is in compliance with all applicable Nasdaq listing standards. Accordingly, the Compliance Letter provided that the Company’s scheduled hearing before the Nasdaq Hearings Panel has been cancelled, and the Company’s securities will continue to be listed and traded on Nasdaq.

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2023
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]		Item 9B. Other Information. During the fiscal quarter ended December 31, 2023, none
Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	(a) BASIS OF PRESENTATION––The consolidated financial statements include the Company and its wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation.
Cash and Cash Equivalents, Policy [Policy Text Block]	(b) CASH AND CASH EQUIVALENTS––Cash and cash equivalents consist of cash and any highly liquid investments with an original purchased maturity of three months or less. Cash and cash equivalents primarily represents funds invested in readily available checking and money market accounts. The Company maintains deposits in financial institutions in excess of federally insured limits of $250,000, in the amount of approximately $9,247,000 at December 31, 2023.
Receivable [Policy Text Block]	(c) ACCOUNTS RECEIVABLE––Accounts receivable are unsecured and non-interest bearing and stated at the amount we expect to collect from outstanding balances. Customer account balances with invoices dated over 90 days old are considered past due. The Company does not accrue interest on past-due accounts. Customer payments are allocated to the specific invoices identified on the customer’s remittance advice or, if unspecified, applied to the oldest unpaid invoices. Accounts receivable at January 1, 2022 were approximately $493,000. The carrying amount of accounts receivable is reduced by an allowance for credit losses that reflects management’s best estimate of expected credit losses. The Company reviews each customer balance where all or a portion of the balance exceeds 90 days from the invoice date. Based on the Company’s assessment of the customer’s current and forecasted creditworthiness, the Company estimates the portion, if any, of the balance that will not be collected, and writes off receivables as a charge to the allowance for credit losses when, in management’s estimation, it is probable that the receivable is worthless. The Company has estimated reserve for expected credit losses of $10,300 at December 31, 2023 (d) FINANCIAL INSTRUMENTS— In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (“CECL”). The amendments in this update introduce a new accounting model to measure credit losses for financial assets measured at amortized cost. The FASB has also issued additional ASUs to clarify the scope and provide additional guidance for ASU 2016-13. Credit losses for financial assets measured at amortized cost should be determined based on the total current expected credit losses over the life of the financial asset or group of financial assets. In effect, the financial asset or group of financial assets should be presented at the net amount expected to be collected. Credit losses will no longer be recorded under the current incurred loss model for financial assets measured at amortized cost. The amendments also modify the accounting for available-for-sale debt securities whereby credit losses will be recorded through an allowance for credit losses rather than a write-down to the security’s cost basis, which allows for reversals of credit losses when estimated credit losses decline. Credit losses for available-for-sale debt securities should be measured in a manner similar to current GAAP. The amendments are effective on January 1, 2023 for the Company, and must be applied using a modified retrospective approach with a cumulative-effect adjustment through retained earnings as of the beginning of the fiscal year upon adoption as required. While the standard modifies the measurement of the allowance for credit losses, it does not alter the credit risk of our trade receivables. There was no impact of applying the CECL methodology upon adoption effective on January 1, 2023. Under the CECL impairment model, the Company develops and documents its allowance for credit losses on its trade receivables based on one portfolio segments: domestic customers. The determination of portfolio segments is based primarily on the customers’ geographical location. Our quantitative allowance for credit loss estimates under CECL was determined using the method that uses an aging schedule. The Company also considers qualitative adjustments that may relate to unique risks, changes in current economic conditions that may not be reflected in quantitatively derived results, or other relevant factors to further inform our estimate of the allowance for credit losses.
Inventory, Policy [Policy Text Block]	(e) INVENTORY AND COST OF PRODUCTS SOLD––Inventory consists of cyclodextrin products and chemical complexes purchased for resale recorded at the lower of cost (first-in, first-out) or net realizable value. Cost of products sold includes the acquisition cost of the products sold and does not include any allocation of inbound or outbound freight charges, indirect overhead expenses, warehouse and distribution expenses, or depreciation and amortization expense. The Company records a specific reserve for inventory items that are determined to be obsolete. The Company determined no The Company’s reserve for obsolete inventory is based on the Company’s best estimates of product sales and customer demands. It is reasonably possible that the estimates used by the Company to determine its provisions for inventory write-downs will be materially different from actual write-downs. These differences could result in materially higher than expected inventory provisions and related costs, which could have a materially adverse effect on the Company’s results of operations and financial condition in the near term.
Prepaid Expenses [Policy Text Block]	(f) PREPAID CLINICAL EXPENSES––Prepaid clinical expenses consist of our active pharmaceutical ingredients and other raw materials for our pharmaceutical drug Trappsol® Cyclo™ expected to be used in our clinical trial program recorded at cost. In addition, advance payments for goods or services for future research and development activities are included as prepaid clinical expenses. Prepaid clinical expenses are expensed as research and development costs as the goods are delivered or the related services are performed.
Property, Plant and Equipment, Policy [Policy Text Block]	(g) FURNITURE AND EQUIPMENT––Furniture and equipment are recorded at cost, less accumulated depreciation. Depreciation is computed using primarily the straight-line method over the estimated useful lives of the assets (generally three five seven ten
Lessee, Leases [Policy Text Block]	(h) LEASES––The Company leases office and warehouse space. The Company determines if an arrangement is a lease at inception. Contracts containing a lease are further evaluated for classification as an operating or finance lease where the Company is a lessee, or as an operating, sales-type or direct financing lease where the Company is a lessor, based on their terms. Operating leases are included in right-of-use ("ROU") lease assets and lease liabilities on the Company’s consolidated balance sheets. The Company subleases office space under one existing lease to a third party. Sublease income is reported as other income in the consolidated statements of operations. There was no sublease income recognized in the year ended December 31, 2023 as the related lease was assumed on December 28, 2023 upon closing of the Merger Agreement discussed in Notes 1 and 12. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The lease ROU asset also includes any lease payments made and excludes lease incentives. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Variable lease payments are expensed as incurred. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. In evaluating contracts to determine if they qualify as a lease, the Company considers factors such as if the Company has obtained substantially all of the rights to the underlying asset through exclusivity, if it can direct the use of the asset by making decisions about how and for what purpose the asset will be used and if the lessor has substantive substitution rights. This evaluation may require significant judgment.
Revenue [Policy Text Block]	(i) REVENUE RECOGNITION––Revenues are recognized when our customer obtains control of promised goods or services in an amount that reflects the consideration which we expect to receive in exchange for those goods or services. We recognize revenues following the five step model prescribed under Accounting Standards Update (“ASU”) No. 2014-09: (i) identify contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenues when (or as) we satisfy the performance obligation. Product revenues In the U.S., we sell our products to the end user or wholesale distributors. In other countries, we sell our products primarily to wholesale distributors and other third-party distribution partners. These customers subsequently resell our products to health care providers and patients. Revenues from product sales are recognized when the customer obtains control of our product, which occurs at a point in time, typically upon delivery to the customer. We expense incremental costs of obtaining a contract as and when incurred if the expected amortization period of the asset that we would have recognized is one year or less or the amount is immaterial. We treat shipping and handling costs performed after a customer obtains control of the product as a fulfillment cost. We have identified one performance obligation in our contracts with customers which is the delivery of product to our customers. The transaction price is recognized in full when we deliver the product to our customer, which is the point at which we have satisfied our performance obligation. For additional information on our revenues, please read Note 3, Revenues, to these consolidated financial statements.
Revenue from Contract with Customer, Shipping and Handling Fees, Policy [Policy Text Block]	(j) SHIPPING AND HANDLING FEES––Shipping and handling fees, if billed to customers, are included in product sales. Shipping and handling costs associated with inbound and outbound freight are expensed as incurred and included in freight and shipping expense.
Advertising Cost [Policy Text Block]	(k) ADVERTISING––Advertising costs are charged to operations when incurred. We incur minimal advertising expenses.
Research and Development Expense, Policy [Policy Text Block]	(l) RESEARCH AND DEVELOPMENT COSTS–– Research and development costs are either expensed as incurred. The Company records amounts paid in advance of the service being rendered as a prepaid asset, and the expense recognized when the service is performed. Research and development costs are primarily comprised of personnel-related expenses and external research and development expenses incurred under arrangements with third parties, such as contract research organizations and consultants. At the end of each reporting period, the Company compares the payments made to each service provider to the estimated progress towards completion of the related project. Factors that the Company considers in preparing these estimates include the number of patients enrolled in studies, milestones achieved, and other criteria related to the efforts of its vendors. These estimates will be subject to change as additional information becomes available. Depending on the timing of payments to vendors and estimated services provided, the Company will record net prepaid or accrued expenses related to these costs. Prepaid clinical expenses represent valid future economic benefits based on our contracts with our vendors and are realized in the ordinary course of business.
Income Tax, Policy [Policy Text Block]	(m) INCOME TAXES––Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective income tax bases. Deferred tax assets and liabilities are measured using enacted rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. In addition, tax benefits related to positions considered uncertain are recognized only when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions shall initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts. As of December 31, 2023 and 2022, the Company has recorded a full valuation allowance against its deferred tax assets.
Earnings Per Share, Policy [Policy Text Block]	(n) NET LOSS PER COMMON SHARE––Basic and fully diluted net loss per common share is computed using a simple weighted average of common shares outstanding during the periods presented, as outstanding warrants to purchase 13,476,554 and 2,045,846 shares of common stock were antidilutive for the years ended December 31, 2023 and 2022, respectively. Additionally, outstanding options to purchase 899,820 and 425,646 shares of common stock were antidilutive for the years ended December 31, 2023 and 2022, respectively, and therefore also excluded.
Share-Based Payment Arrangement [Policy Text Block]	(o) STOCK-BASED COMPENSATION–– The Company periodically awards stock to employees, directors, and consultants. In the case of employees and consultants, an expense is recognized equal to the fair value of the stock determined using the closing trading price of the stock on the award date. With respect to directors, the Company accrues stock compensation expense on a quarterly basis based on the Company’s historical director compensation policies, and each quarter recognizes such expense based on the trading price of the common stock during such quarter. This expense is then trued up at the time the shares are issued to directors based on the trading price at the time of issuance. The Company periodically issues stock options under its 2021 Equity Incentive Plan. The Company uses the Black-Scholes valuation method to estimate the fair value of stock options at grant date. Compensation expense is recognized on the straight-line basis over the requisite service period, which is generally the vesting period.
Fair Value Measurement, Policy [Policy Text Block]	(p) FAIR VALUE MEASUREMENTS AND DISCLOSURES––Accounting Standards Codification (“ASC”) 820, "Fair Value Measurements and Disclosures," requires companies to determine fair value based on the price that would be received to sell the asset or paid to transfer the liability to a market participant. ASC 820 emphasizes that fair value is a market-based measurement, not an entity-specific measurement. The guidance requires that assets and liabilities carried at fair value be classified and disclosed in one of the following categories: ● Level 1: Quoted market prices in active markets for identical assets or liabilities. ● Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data. ● Level 3: Unobservable inputs that are not corroborated by market data. We have no assets or liabilities required to have their fair value measured on a recurring basis at December 31, 2023 or 2022. Long-lived assets are measured at fair value on a non-recurring basis and are subject to fair value adjustments when there is evidence of impairment. For short-term classes of our financial instruments, which include cash and cash equivalents, accounts receivable and accounts payable, and which are not reported at fair value, the carrying amounts approximate fair value due to their short-term nature. As December 31, 2023, money market funds were the only financial instrument measured and recorded at fair value on a recurring basis on the Company’s consolidated balance sheets. Money market funds were recorded within cash and cash equivalents. The following table present money market funds at their level within the fair value hierarchy for the periods indicated. There were no Fair Value Hierarchy Level Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Cash equivalents: ​ Money market funds invested in U.S. government obligations Level 1 $ 4,792,338 $ - $ - $ 4,792,338 Total $ 4,792,338 $ - $ - $ 4,792,338
Use of Estimates, Policy [Policy Text Block]	(q) USE OF ESTIMATES––The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions, including regarding contingencies, that affect the amounts reported in the consolidated financial statements and accompanying notes. The Company’s most significant estimates relate to inventory obsolescence, stock-based compensation, warrant liability valuation, fair value of warrants issued, assumed liabilities associated with Merger (see Note 12), and allowance for credit losses. Although management bases its estimates on historical experience and assumptions that are believed to be reasonable under the circumstances, actual results could significantly differ from these estimates.
New Accounting Pronouncements, Policy [Policy Text Block]	(r) RECENT ACCOUNTING PRONOUNCEMENTS–– In June 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-13, “Financial Instruments – Credit Losses” (Topic 326), which provides guidance on how an entity should measure credit losses on financial instruments. The standard amends the impairment model by requiring entities to use a forward-looking approach based on expected losses to estimate credit losses for most financial assets and certain other instruments that aren’t measured at fair value through net income. The ASU is effective for smaller reporting companies in the first quarter of 2023. The Company adopted the new guidance as of January 1, 2023, and it did not have a material impact on its consolidated financial statements. In August 2020, the FASB issued ASU 2020-06, "Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815–40)"(“ASU 2020-06”). ASU 2020-06 simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity’s own equity. The ASU 2020-06 amendments are effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The Company adopted this standard as of January 1, 2023, and determined no material impact on its consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740) - Improvements to Income Tax Disclosures." The new guidance is intended to enhance the transparency and decision usefulness of income tax disclosures by requiring disaggregated information about a reporting entity's effective tax rate reconciliation and information on income taxes paid. The amendment is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The amendment in this update should be applied on a prospective basis, with retrospective application permitted. The Company is in the process of evaluating the impact that the adoption of ASU 2023-09 will have on the consolidated financial statements and related disclosures. In June 2022, the FASB issued ASU No. 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions (“ASU 2022-03”) which clarifies guidance for fair value measurement of an equity security subject to a contractual sale restriction and establishes new disclosure requirements for such equity securities. ASU 2022-03 is effective for fiscal years beginning after December 15, 2023 and for interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact of ASU 2022-03 on its consolidated financial statements.
Warrants [Policy Text Block]	(s) WARRANTS–– The Company accounts for its warrants as either equity-classified or liability-classified instruments based on an assessment of the specific terms of the warrants considering the authoritative guidance in ASC 480 , , , , .

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	Fair Value Hierarchy Level Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Cash equivalents: ​ Money market funds invested in U.S. government obligations Level 1 $ 4,792,338 $ - $ - $ 4,792,338 Total $ 4,792,338 $ - $ - $ 4,792,338

Note 3 - Revenues (Tables)

Note 3 - Revenues (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Disaggregation of Revenue [Table Text Block]	Years Ended December 31, 2023 2022 Trappsol® Cyclo™ $ 1,282 $ 5,118 Trappsol® HPB 649,863 851,756 Trappsol® Fine Chemical 411,404 501,295 Aquaplex® 10,216 5,460 Other 3,640 12,131 Total revenues $ 1,076,405 $ 1,375,760

Note 6 - Furniture and Equipm_2

Note 6 - Furniture and Equipment (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Property, Plant and Equipment [Table Text Block]	2023 2022 Machinery and equipment $ 75,137 $ 75,137 Office furniture 84,010 81,590 159,147 156,727 Less: accumulated depreciation 120,815 101,539 Furniture and equipment, net $ 38,332 $ 55,188

Note 7 - Accounts Payable and_2

Note 7 - Accounts Payable and Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]	Years Ended December 31, 2023 2022 Accounts payable $ 4,856,530 $ 2,233,894 Accrued bonus compensation 1,590,776 902,614 Accrued board expense 92,110 72,125 Sub-lease deposit liability 243,742 - Merger liabilities 487,402 - Other 186,856 272,036 Total accounts payable and accrued expenses $ 7,457,416 $ 3,480,669

Note 8 - Leases (Tables)

Note 8 - Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Lease, Cost [Table Text Block]	2023 2022 Cash paid for amounts included in the measurement of lease liabilities: $ 17,000 $ 19,800 Operating lease assets obtained in merger recapitalization 850,542 - Operating lease liability assumed in merger recapitalization 992,141 - Weighted-average remaining lease term—operating leases (in years) .72 .08 Weighted-average discount rate—operating leases 3 % 6 %
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	Year Ending December 31, Amount 2024 $ 1,020,604 2025 21,590 2026 1,804 Total future minimum lease payments 1,043,998 Less: Imputed interest (10,883 ) $ 1,033,115

Note 10 - Equity Transactions (

Note 10 - Equity Transactions (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Schedule of Share-based Compensation, Stock Warrants Activity [Table Text Block]	Warrants outstanding, December 31, 2021 2,048,186 Issued - Exercised - Expired (2,340 ) Warrants outstanding, December 31, 2022 2,045,846 Issued 18,825,700 Exercised (5,037,993 ) Expired (87,707 ) Warrants outstanding, December 31, 2023 15,745,846
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	Warrants Issued Exercise Price Expiration Date 58,930 $ 35 February 2024 2,400 $ 25 October 2024 57,600 $ 25 October 2024 302,379 $ 9.37 November 2024 80,000 $ 25 April 2025 35,200 $ 65 December 2025 2,223 $ 11 September 2025 283,111 $ 15 August 2027 1,078,796 $ 5 December 2025 57,500 $ 6.25 December 2025 2,608,596 $ 1.36 January 2026 156,522 $ 2.02 December 2027 2,608,596 1.36 January 2028 3,695,227 $ 0.95 October 2028 718,566 $ 0.71 April 2030 4,000,000 $ 1.25 August 2030 15,745,846

Note 12 - Merger With Applied_2

Note 12 - Merger With Applied Molecular Transport Inc (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	Cash and cash equivalents $ 10,042,488 Right-of-use lease asset 850,542 Security deposit 127,111 Prepaids and other assets 197,844 Lease liability (992,141 ) Sub-lease deposit liability (243,724 ) Other liabilities (487,402 ) Net assets $ 9,494,718

Note 13 - Income Taxes (Tables)

Note 13 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Summary of Operating Loss Carryforwards [Table Text Block]	Year Ending December 31, Amount 2024 $ 66,000 2028 7,000 2030 160,000 2031 73,000 2032 48,000 2034 727,000 2035 1,969,000 2036 2,867,000 2037 2,481,000 Indefinite 41,409,000 Total $ 49,807,000
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	2023 2022 Deferred tax assets: Net operating loss carryforwards $ 12,624,000 $ 10,761,000 Tax credits, net 6,950,000 10,354,000 Impairment allowances 3,000 19,000 Stock-based compensation 68,000 45,000 Other 167,000 105,000 Accrued bonuses 242,000 245,000 Accrued legal 95,000 - Lease liabilities 262,000 - Research and development expenses, net 4,646,000 1,642,000 Less valuation allowance (24,827,000 ) (23,167,000 ) Deferred tax asset, net of valuation 230,000 4,000 Deferred tax liabilities: Property and equipment (3,000 ) (4,000 ) Right-of-use assets (227,000 ) - Deferred tax liabilities (230,000 ) (4,000 ) Net tax assets $ - $ -
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	2023 2022 Tax benefit (expense) at federal statutory rate 21 % 21 % Effect of state taxes 4 % 3 % Other 1 % - % Tax credits, net of reserve (17 )% 15 % Nondeductible expenses (1 )% (3 )% Valuation allowance – deferred tax assets (8 )% (36 )% Total tax benefit (provision) $ - $ -
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]	2023 2022 Balance, January 1 $ - $ - Additions based on tax positions related to the current year 6,950,000 - Balance, December 31 $ 6,950,000 $ -

Note 15 - Equity Incentive Pl_2

Note 15 - Equity Incentive Plans (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Equity Incentive Plan Fair Value Assumptions [Table Text Block]	​ 2023 2022 Dividend yield -% -% Expected volatility 100.27 – 103.58% 90.5 – 92.3% Risk-free interest rate 3.36 – 5.36% 1.83 – 2.76% Expected lives (years) 1 - 6.25 5 - 6.25 Dividend yield - % Expected volatility 93.3 % Risk-free interest rate 4.79 % Expected lives (years) 1
Share-Based Payment Arrangement, Option, Activity [Table Text Block]	​ ​ Weighted ​ Weighted ​ ​ ​ Average Aggregate Average ​ ​ ​ Exercise Intrinsic Remaining ​ Shares ​ Price Value Contractual Life Stock options outstanding at December 31, 2021 222,700 ​ $ 7.45 ​ $ - ​ 9.7 Granted 226,746 ​ 3.18 ​ - ​ Exercised - ​ - $ - Expired - ​ - $ - Forfeited (23,800 ) ​ - - Stock options outstanding at December 31, 2022 425,646 5.17 ​ $ - ​ 8.9 Granted 459,281 1.91 ​ - Options assumed 108,875 2.96 Exercised (1,155 ) ​ 1.28 ​ $ - ​ ​ Expired - ​ - Forfeited (92,827 ) ​ 3.15 ​ - ​ ​ Stock options outstanding at December 31, 2023 899,820 ​ $ 3.12 ​ $ - ​ 7.7 Stock options exercisable at December 31, 2023 465,566 ​ $ 3.68 ​ $ - ​ 6.7

Note 16 - Net Loss Per Share (T

Note 16 - Net Loss Per Share (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Years Ended December 31, 2023 2022 Numerator Net loss $ (20,057,302 ) $ (15,450,888 ) Denominator Weighted-average common shares outstanding, basic and diluted 16,329,713 8,439,177 Net loss per share, basic and diluted $ (1.23 ) $ (1.83 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Years Ended December 31, 2022 2021 Stock options 899,820 425,646 Warrants 13,476,553 2,045,846

Note 1 - Organization and Des_2

Note 1 - Organization and Description of Business (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Net loss	$ (20,057,302)	$ (15,450,888)
Retained Earnings (Accumulated Deficit)	(83,856,681)	(63,799,379)
Net Cash Provided by (Used in) Operating Activities	(16,185,026)	(15,114,241)
Cash and Cash Equivalents, at Carrying Value	9,246,592	$ 1,543,418
Working Capital Deficit	$ 3,850,210

Note 2 - Summary of Significa_3

Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Jan. 01, 2022
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations	$ 9,247,000
Accounts Receivable, after Allowance for Credit Loss			$ 493,000
Accounts Receivable, Allowance for Credit Loss	10,300	$ 10,300
Inventory Valuation Reserves	0	52,900
Cash and Cash Equivalents, at Carrying Value	$ 9,246,592	1,543,418
Money Market Funds [Member]
Cash and Cash Equivalents, at Carrying Value		$ 0
Warrants To Purchase Common Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	13,476,554	2,045,846
Share-Based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	899,820	425,646
Computers and Vehicles [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)	3 years
Computers and Vehicles [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)	5 years
Machinery and Furniture [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)	7 years
Machinery and Furniture [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)	10 years

Note 2 - Summary of Significa_4

Note 2 - Summary of Significant Accounting Policies - Financial Instruments Recorded at Fair Value (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Cash and Cash Equivalents, at Carrying Value	$ 9,246,592	$ 1,543,418
Fair Value, Recurring [Member]
Cash and Cash Equivalents, at Carrying Value	4,792,338
Gross Unrealized gains	0
Gross unrealized losses	0
Fair Value	4,792,338
Money Market Funds [Member]
Cash and Cash Equivalents, at Carrying Value		$ 0
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Cash and Cash Equivalents, at Carrying Value	4,792,338
Gross Unrealized gains	0
Gross unrealized losses	0
Fair Value	$ 4,792,338

Note 3 - Revenues (Details Text

Note 3 - Revenues (Details Textual)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Number of Operating Segments	1
Geographic Concentration Risk [Member] | Revenue, Segment Benchmark [Member] | Non-US [Member]
Concentration Risk, Percentage	12%	39%

Note 3 - Revenues - Revenues by

Note 3 - Revenues - Revenues by Product (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Revenues	$ 1,076,405	$ 1,375,760
Trappsol Cyclo [Member]
Revenues	1,282	5,118
Trappsol HPB [Member]
Revenues	649,863	851,756
Trappsol Fine Chemical [Member]
Revenues	411,404	501,295
Aquaplex [Member]
Revenues	10,216	5,460
Product and Service, Other [Member]
Revenues	$ 3,640	$ 12,131

Note 4 - Major Customers and _2

Note 4 - Major Customers and Suppliers (Details Textual)	3 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Supplier Concentration Risk [Member]
Number of Major Vendors		4
Revenue Benchmark [Member] | Customer Concentration Risk [Member]
Number of Major Customers		2	3
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Two Major Customer [Member ]
Concentration Risk, Percentage		72%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Three Major Customers [Member]
Concentration Risk, Percentage			68%
Revenue Benchmark [Member] | Product Concentration Risk [Member] | Basic Natural and Chemically Modified Cyclodexterins [Member]
Concentration Risk, Percentage		99%	99%
Revenue Benchmark [Member] | Product Concentration Risk [Member] | Cyclodexterin Complexes [Member]
Concentration Risk, Percentage		1%	1%
Accounts Receivable [Member] | Customer Concentration Risk [Member]
Number of Major Customers		3		3
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Two Major Customers [Member]
Concentration Risk, Percentage	77%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Three Major Customers [Member]
Concentration Risk, Percentage		91%	19%	94%
Inventory Purchases [Member] | Supplier Concentration Risk [Member]
Number of Major Vendors			4

Note 6 - Furniture and Equipm_3

Note 6 - Furniture and Equipment (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Depreciation, Total	$ 19,276	$ 19,481

Note 6 - Furniture and Equipm_4

Note 6 - Furniture and Equipment - Summary of Property and Equipment (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Property, plant and equipment, gross	$ 159,147	$ 156,727
Less: accumulated depreciation	120,815	101,539
Furniture and equipment, net	38,332	55,188
Machinery and Equipment [Member]
Property, plant and equipment, gross	75,137	75,137
Office Furniture [Member]
Property, plant and equipment, gross	$ 84,010	$ 81,590

Note 7 - Accounts Payable and_3

Note 7 - Accounts Payable and Accrued Expenses - Schedule of Accounts Payable and Accrued Expenses (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Accounts payable	$ 4,856,530	$ 2,233,894
Accrued bonus compensation	1,590,776	902,614
Accrued board expense	92,110	72,125
Sub-lease deposit liability	243,742	0
Merger liabilities	487,402	0
Other	186,856	272,036
Total accounts payable and accrued expenses	$ 7,457,416	$ 3,480,669

Note 8 - Leases (Details Textua

Note 8 - Leases (Details Textual) - USD ($)	1 Months Ended	12 Months Ended
	Jan. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Operating Lease, Right-of-Use Asset, Amortization		$ 17,242	$ 66,552
Operating Lease, Expense		28,353	$ 16,166
Sublease Income		0
Lessor, Operating Lease, Payment to be Received, Year One		$ 1,390,024
Office Lease [Member]
Lessee, Operating Lease, Extension Option, Renewal Term (Year)	3 years

Note 8 - Leases - Other Informa

Note 8 - Leases - Other Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:	$ 17,000	$ 19,800
Weighted-average remaining lease term—operating leases (in years) (Year)	8 months 19 days	29 days
Weighted-average discount rate—operating leases	3%	6%
Merger Agreement [Member]
Operating lease assets obtained in merger recapitalization	$ 850,542	$ 0
Operating lease liability assumed in merger recapitalization	$ 992,141	$ 0

Note 8 - Leases - Future Minimu

Note 8 - Leases - Future Minimum Lease Payments (Details)	Dec. 31, 2023 USD ($)
2024	$ 1,020,604
2025	21,590
2026	1,804
Total future minimum lease payments	1,043,998
Less: Imputed interest	(10,883)
Operating Lease, Liability	$ 1,033,115

Note 9 - Note Payable (Details

Note 9 - Note Payable (Details Textual)	May 04, 2020 USD ($)
Paycheck Protection Program CARES Act [Member]
Proceeds from Issuance of Long-term Debt, Total	$ 158,524

Note 10 - Equity Transactions_2

Note 10 - Equity Transactions (Details Textual) - USD ($)									12 Months Ended
	Oct. 20, 2023	Aug. 01, 2023	May 02, 2023	Apr. 20, 2023	Apr. 03, 2023	Feb. 27, 2023	Jan. 25, 2023	Jan. 03, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 26, 2023	Dec. 31, 2021	Jun. 24, 2021	Dec. 08, 2020
Common Stock, Shares Authorized (in shares)									250,000,000	20,000,000	250,000,000		50,000,000	20,000,000
Shares Issued, Value, Share-Based Payment Arrangement, before Forfeiture									$ 92,110	$ 72,125
Exercise of warrants									$ 2,388,245
Pre-funded Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)								1,678,696
Class of Warrant or Right, Purchase Price of Warrants or Rights (in dollars per share)								$ 1.61
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)								$ 0.0001
Class of Warrant or Right, Maximum Beneficial Ownership Percent.								9.99%
Exercise of warrants (in shares)					537,000	741,000	400,696
Exercise of warrants					$ 54	$ 74	$ 40
Series A-1 Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)								2,608,696
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)								$ 1.36
Warrants and Rights Outstanding, Term (Year)								5 years
Series A-2 Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)								2,608,696
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)								$ 1.36
Warrants and Rights Outstanding, Term (Year)								3 years
Class of Warrant or Right, Maximum Beneficial Ownership Percent.								4.99%
Warrants Issued to Placement Agent [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)								156,522
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)								$ 2.0125
Warrants and Rights Outstanding, Term (Year)								5 years
Warrants Issued in April 20, 2023 Private Placement [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)				1,562,883
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)				$ 0.71
Warrants and Rights Outstanding, Term (Year)				7 years
Warrants Issued to Rafael Holdings [Member] | Rafael Holdings, Inc. [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)		4,000,000	2,514,970
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)		$ 1.25	$ 0.71
Warrants and Rights Outstanding, Term (Year)		7 years	7 years
New Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)	3,359,297
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 0.95
Class of Warrant or Right, Percentage of Company's Stock Purchasable	110%
Warrants and Rights Outstanding	$ 2,387,117
New Warrants [Member] | Measurement Input, Share Price [Member]
Warrants and Rights Outstanding, Measurement Input	0.95
New Warrants [Member] | Measurement Input, Exercise Price [Member]
Warrants and Rights Outstanding, Measurement Input	0.95
New Warrants [Member] | Measurement Input, Expected Term [Member]
Warrants and Rights Outstanding, Measurement Input	4
New Warrants [Member] | Measurement Input, Expected Dividend Rate [Member]
Warrants and Rights Outstanding, Measurement Input	0
New Warrants [Member] | Measurement Input, Risk Free Interest Rate [Member]
Warrants and Rights Outstanding, Measurement Input	0.0486
New Warrants [Member] | Measurement Input, Price Volatility [Member]
Warrants and Rights Outstanding, Measurement Input	0.926
Warrants to Purchase Units Sold in May 2016 Private Placement [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)									1,641
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)									$ 35
Warrants and Rights Outstanding, Term (Year)									7 years
Warrants to Purchase Units Sold in February 2017 Private Placement [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)									2,400
Warrants to Purchase Units Sold in October 2017 Private Placement [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)									$ 25
Warrants to Purchase Units Sold in May 2016, February 2017 and October 2017 Private Placement [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)									8,082
Warrants and Rights Outstanding									$ 234,861
Registered Direct Offering [Member]
Stock Issued During Period, Shares, New Issues (in shares)								930,000
Shares Issued, Price Per Share (in dollars per share)								$ 1.61
Proceeds from Issuance or Sale of Equity, Net of Issuance Costs								$ 3,700,000
Stock Issued, Offering Fee, Percentage of Proceeds								7.50%
Stock Issued, Management Fee, Percentage of Proceeds								1%
Non-accountable Expense								$ 35,000
Legal Counsel Expense and Other Out-of-pocket Expense								50,000
Clearing Expense								$ 15,950
Private Placement [Member]
Stock Issued During Period, Shares, New Issues (in shares)				1,562,883
Class of Warrant or Right, Purchase Price of Warrants or Rights (in dollars per share)				$ 0.835
Proceeds from Issuance or Sale of Equity	$ 2,388,077			$ 1,305,000
Private Placement [Member] | Rafael Holdings, Inc. [Member]
Stock Issued During Period, Shares, New Issues (in shares)		4,000,000	2,514,970
Proceeds from Issuance or Sale of Equity		$ 5,000,000	$ 2,100,000
Employees [Member]
Stock issued to employees (in shares)									0
Employee [Member]
Stock issued to employees (in shares)										7,500
Share-Based Payment Arrangement, Expense										$ 15,750
Scientific Advisory Board [Member]
Stock issued to employees (in shares)									0	5,000
Stock issued to employees										$ 10,500
Consultant [Member]
Stock issued to employees (in shares)									42,599	0
Stock issued to employees									$ 39,617
Board Members [Member]
Stock issued to employees (in shares)									259,318	65,479
Stock issued to employees									$ 305,181	$ 133,263
Shares Issued, Value, Share-Based Payment Arrangement, before Forfeiture										$ 30,750		$ 41,004

Note 10 - Equity Transactions -

Note 10 - Equity Transactions - Common Stock Warrants Outstanding (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Warrants outstanding (in shares)	2,045,846	2,048,186
Issued (in shares)	18,825,700	0
Exercised (in shares)	(5,037,993)	0
Expired (in shares)	(87,707)	(2,340)
Warrants outstanding (in shares)	15,745,846	2,045,846

Note 10 - Equity Transactions_3

Note 10 - Equity Transactions - Summary of Warrants Outstanding, Exercise Price, and Expiration Dates (Details) - $ / shares	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Warrants Issued (in shares)	15,745,846	2,045,846	2,048,186
Warrants Expiring in February 2024 [Member]
Warrants Issued (in shares)	58,930
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 35
Warrants Expiring in October 2024 [Member]
Warrants Issued (in shares)	2,400
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 25
Warrants Expiring in October 2024, Two [Member]
Warrants Issued (in shares)	57,600
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 25
Warrants Expiring in November 2024 [Member]
Warrants Issued (in shares)	302,379
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 9.37
Warrants Expiring in April 23, 2025 [Member]
Warrants Issued (in shares)	80,000
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 25
Warrants Expiring in December, 2025 [Member]
Warrants Issued (in shares)	35,200
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 65
Warrants Expiring in September 2025 [Member]
Warrants Issued (in shares)	2,223
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 11
Warrants Expiring in September 2027 [Member]
Warrants Issued (in shares)	283,111
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 15
Warrant Expiring in December 2025, Two [Member]
Warrants Issued (in shares)	1,078,796
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 5
Warrants Expiring in December 2025, Third [Member]
Warrants Issued (in shares)	57,500
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 6.25
Warrants Expiring in January 2026 [Member]
Warrants Issued (in shares)	2,608,596
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 1.36
Warrants Expiring in December 2027 [Member]
Warrants Issued (in shares)	156,522
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 2.02
Warrants Expiring in January 2028 [Member]
Warrants Issued (in shares)	2,608,596
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 1.36
Warrants Expiring in October 2028 [Member]
Warrants Issued (in shares)	3,695,227
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 0.95
Warrants Expiring in April 2030 [Member]
Warrants Issued (in shares)	718,566
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 0.71
Warrants Expiring in August 2030 [Member]
Warrants Issued (in shares)	4,000,000
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 1.25

Note 11 - Preferred Stock (Deta

Note 11 - Preferred Stock (Details Textual) - shares	Dec. 31, 2023	Dec. 31, 2022
Preferred Stock, Shares Authorized (in shares)	5,000,000	5,000,000
Preferred Stock, Shares Outstanding (in shares)	0	0

Note 12 - Merger With Applied_3

Note 12 - Merger With Applied Molecular Transport Inc (Details Textual) - USD ($)		12 Months Ended
	Dec. 27, 2023	Dec. 31, 2023	Dec. 31, 2022
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price		$ 1.91	$ 3.18
Operating Lease, Right-of-Use Asset		$ 890,949	$ 1,470
Operating Lease, Liability		$ 1,033,115
Molecular Transport Inc [Member]
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 0.4
Operating Lease, Right-of-Use Asset	$ 851,000
Operating Lease, Liability	992,000
Cash Acquired from Acquisition	688,480
Payments to Acquire Businesses, Net of Cash Acquired	$ 9,354,008
Molecular Transport Inc [Member] | Share-Based Payment Arrangement, Option [Member]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	108,875
Molecular Transport Inc [Member] | Common Stock [Member]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	5,725,306

Note 12 - Merger With Applied_4

Note 12 - Merger With Applied Molecular Transport Inc - Schedule of Acquired Assets and Liabilities (Details) - Molecular Transport Inc [Member]	Dec. 27, 2023 USD ($)
Cash and cash equivalents	$ 10,042,488
Right-of-use lease asset	850,542
Security deposit	127,111
Prepaids and other assets	197,844
Lease liability	(992,141)
Sub-lease deposit liability	(243,724)
Other liabilities	(487,402)
Net assets	$ 9,494,718

Note 13 - Income Taxes (Details

Note 13 - Income Taxes (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Valuation Allowance Percentage	100%
Operating Loss Carryforwards	$ 49,807,000
Unrecognized Tax Benefits	6,950,000	$ 0	$ 0
Income Tax Expense (Benefit)	0	0
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	1,659,000	$ 5,464,000
Orphan Drug Credit [Member]
Tax Credit Carryforward, Amount	$ 13,900,000

Note 13 - Income Taxes - Summar

Note 13 - Income Taxes - Summary of Net Operating Loss Carryforward Expirations (Details)	Dec. 31, 2023 USD ($)
Net operating loss carryforwards	$ 49,807,000
Expiring in Tax Year 2024 [Member]
Net operating loss carryforwards	66,000
Expiring in Tax Year 2028 [Member]
Net operating loss carryforwards	7,000
Expiring in Tax Year 2030 [Member]
Net operating loss carryforwards	160,000
Expiring in Tax Year 2031 [Member]
Net operating loss carryforwards	73,000
Expiring in Tax Year 2032 [Member]
Net operating loss carryforwards	48,000
Expiring in Tax Year 2034 [Member]
Net operating loss carryforwards	727,000
Expiring in Tax Year 2035 [Member]
Net operating loss carryforwards	1,969,000
Expiring in Tax Year 2036 [Member]
Net operating loss carryforwards	2,867,000
Expiring in Tax Year 2037 [Member]
Net operating loss carryforwards	2,481,000
Expiring in Tax Year indefinite [Member]
Net operating loss carryforwards	$ 41,409,000

Note 13 - Income Taxes - Summ_2

Note 13 - Income Taxes - Summary of Significant Components of Deferred Federal Income Taxes (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Net operating loss carryforwards	$ 12,624,000	$ 10,761,000
Tax credits, net	6,950,000	10,354,000
Impairment allowances	3,000	19,000
Stock-based compensation	68,000	45,000
Other	167,000	105,000
Accrued bonuses	242,000	245,000
Accrued legal	95,000	0
Right-of-use liabilities	262,000	0
Research and development expenses, net	4,646,000	1,642,000
Less valuation allowance	(24,827,000)	(23,167,000)
Deferred tax liabilities:
Deferred tax asset, net of valuation	230,000	4,000
Property and equipment	(3,000)	(4,000)
Right-of-use assets	(227,000)	0
Deferred tax liabilities	(230,000)	(4,000)
Net tax assets	$ 0	$ 0

Note 13 - Income Taxes - Effect

Note 13 - Income Taxes - Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Tax benefit (expense) at federal statutory rate	21%	21%
Effect of state taxes	4%	3%
Other	1%	0%
Tax credits, net of reserve	(17.00%)	15%
Nondeductible expenses	(1.00%)	(3.00%)
Valuation allowance – deferred tax assets	(8.00%)	(36.00%)
Total tax benefit (provision)	0%	0%

Note 13 - Income Taxes - Uncert

Note 13 - Income Taxes - Uncertain Positions (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Balance, January 1	$ 0	$ 0
Additions based on tax positions related to the current year	6,950,000	0
Total revenues	$ 6,950,000	$ 0

Note 14 - Employee Benefit Pl_2

Note 14 - Employee Benefit Plan (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 66,505	$ 61,168
Maximum [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	4%

Note 15 - Equity Incentive Pl_3

Note 15 - Equity Incentive Plans (Details Textual) - USD ($)		12 Months Ended
	Dec. 27, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Jun. 24, 2021	Aug. 29, 2019
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)		459,281	226,746
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period		92,827	23,800
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price		$ 3.12	$ 5.17	$ 7.45
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Payments		$ 0
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount		$ 862,605
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)		7 years 8 months 12 days
Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value		$ 0.69	1.6
Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value		$ 1.06	$ 2.47
Merger Agreement [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 0.4
Business Combination, Stock Options Assumed	108,875
The 2019 Omnibus Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized						68,437
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)		68,437
The 2019 Omnibus Incentive Plan [Member] | Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year)		10 years
The 2021 Equity Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized					3,000,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)		459,281	226,746
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period		92,827
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant		1,811,063
The 2021 Equity Incentive Plan [Member] | Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year)		10 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)		301,805	77,979

Note 15 - Equity Incentive Pl_4

Note 15 - Equity Incentive Plans - Fair Value Assumptions (Details)		12 Months Ended
	Dec. 27, 2023	Dec. 31, 2023	Dec. 31, 2022
Minimum [Member]
Expected volatility		100.27%	90.50%
Risk-free interest rate		3.36%	1.83%
Expected lives (years) (Year)		1 year	5 years
Maximum [Member]
Expected volatility		103.58%	92.30%
Risk-free interest rate		5.36%	2.76%
Expected lives (years) (Year)		6 years 3 months	6 years 3 months
Merger Agreement [Member]
Expected volatility	93.30%
Risk-free interest rate	4.79%
Expected lives (years) (Year)	1 year

Note 15 - Equity Incentive Pl_5

Note 15 - Equity Incentive Plans - Stock Option Activity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Stock options outstanding (in shares)	425,646	222,700
Stock options, weighted average exercise price, outstanding (in dollars per share)	$ 5.17	$ 7.45
Stock options, outstanding, weighted average remaining contractual life (Year)	7 years 8 months 12 days	8 years 10 months 24 days	9 years 8 months 12 days
Stock options, granted (in shares)	459,281	226,746
Stock options, weighted average exercise price, granted (in dollars per share)	$ 1.91	$ 3.18
Stock options, exercised (in shares)	1,155	0
Stock options, weighted average exercise price, exercised (in dollars per share)	$ 1.28	$ 0
Stock options, expired (in shares)	0	0
Stock options, weighted average exercise price, expired (in dollars per share)		$ 0
Stock options, forfeited (in shares)	(92,827)	(23,800)
Stock options, weighted average exercise price, forfeited (in dollars per share)	$ 3.15	$ 0
Stock options, intrinsic value, outstanding	$ 0	$ 0
Options assumed (in shares)	108,875
Options assumed, weighted average exercise price (in dollars per share)	$ 2.96
Exercised (in shares)	(1,155)	0
Stock options, weighted average exercise price, outstanding (in shares)	899,820	425,646	222,700
Stock options, weighted average exercise price, outstanding (in dollars per share)	$ 3.12	$ 5.17	$ 7.45
Stock options, exercisable (in shares)	465,566
Stock options, weighted average exercise price, exercisable (in dollars per share)	$ 3.68
Stock options, aggregate intrinsic value, exercisable	$ 0
Stock options, exercisable, weighted average remaining contractual term (Year)	6 years 8 months 12 days

Note 16 - Net Loss Per Share -

Note 16 - Net Loss Per Share - Earnings Per Share (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Net loss	$ (20,057,302)	$ (15,450,888)
Weighted-average common shares outstanding, basic and diluted (in shares)	16,329,713	8,439,177
Net loss per share, basic and diluted (in dollars per share)	$ (1.23)	$ (1.83)

Note 16 - Net Loss Per Share _2

Note 16 - Net Loss Per Share - Antidilutive Securities Weighted Average Shares Outstanding (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-Based Payment Arrangement, Option [Member]
Antidilutive Securities (in shares)	899,820	425,646
Warrant [Member]
Antidilutive Securities (in shares)	13,476,553	2,045,846

Note 17 - Commitments and Con_2

Note 17 - Commitments and Contingencies (Details Textual) - Ashland, Inc. [Member] - Purchase Commitment [Member]	12 Months Ended
	Dec. 31, 2023 USD ($)
Purchase Commitment, Goods Purchased During Period	$ 980,000
Purchase Commitment, Remaining Minimum Amount Committed	980,000
Long-Term Purchase Commitment, Annual Minimum Purchase Required	$ 980,000

Note 18 - Related Party Trans_2

Note 18 - Related Party Transactions (Details Textual) - USD ($)		12 Months Ended			27 Months Ended
	Apr. 20, 2023	Dec. 31, 2023	Dec. 23, 2023	Dec. 31, 2022	Dec. 31, 2018
Class of Warrant or Right, Issued During Period		18,825,700		0
Warrants Issued in April 20, 2023 Private Placement [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)	1,562,883
Private Placement [Member]
Stock Issued During Period, Shares, New Issues (in shares)	1,562,883
C.E. Rick Strattan [Member]
Payments for Non-profit Organization, Monthly Fee					$ 5,000
Joshua M. Fine [Member]
Annual Salary for Chief Financial Officer		$ 335,780		$ 335,780
Chief Financial Officer, Cash Bonus		134,312		134,312
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Fair Value		$ 42,808		82,846
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period		4 years
Kevin J. Strattan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Fair Value		$ 21,140		44,782
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period			4 years
Annual Salary for Vice President, Finance		180,250		180,250
Vice President, Finance, Cash Bonus		54,075		54,075
Corey E. Strattan [Member]
Annual Salary for Documentation Specialist and Logistics Coordinator		92,700		92,700
Bonus for Documentation Specialist and Logistics Coordinator		$ 13,905		$ 13,905
Chief Executive Officer and Certain Board Members and an Affiliate [Member] | Warrants Issued in April 20, 2023 Private Placement [Member]
Class of Warrant or Right, Issued During Period	784,436
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)	784,436
Chief Executive Officer and Certain Board Members and an Affiliate [Member] | Private Placement [Member]
Stock Issued During Period, Shares, New Issues (in shares)	784,436

Note 19 - Subsequent Events (De

Note 19 - Subsequent Events (Details Textual) - Subsequent Event [Member]	Feb. 13, 2024 USD ($) shares
Stock issued to nonemployees (in shares) | shares	58,312
Stock issued to nonemployees | $	$ 92,125