Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

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Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of stock-based compensation expense
Stock-based compensation expense is presented in the same expense line items as cash compensation paid and for the three months ended March 31 is as follows:
Three months ended March 31
2024 2023
Research and Development $ 94,571  $ 64,687 
General and Administrative 80,872  71,254 
Total Stock-Based Compensation Expense $ 175,443  $ 135,941 
Schedule of weighted average assumptions A summary of the Company’s assumptions used in determining the fair value of the stock options granted during the three months ended March 31, 2024 and 2023 is shown in the following table. Note there were no options granted during the three months ended March 31, 2024:
Three months ended March 31
2024 2023
Risk-Free Interest Rate N/A 4.26  %
Expected Life (years) N/A 5.00
Expected Stock Price Volatility N/A 142  %
Expected Dividend Yield —  % —  %
Schedule of stock option activity
Following is a summary of stock option activity for the three months ended March 31, 2024:
Number of
Options		 Weighted- Average
Exercise Price		 Weighted- Average
Remaining
Term in Years
Outstanding at December 31, 2023 812,945 $ 4.26  9.56
Expired (703) $ 374.50 
Forfeited (8,672) $ 0.93 
Outstanding at March 31, 2024 803,570 $ 3.97  9.28
Exercisable and vested at March 31, 2024 238,121 $ 10.26  9.02
Schedule of restricted stock activity The following is a summary of restricted stock activity for the three months ended March 31, 2024:
Number of
Units		 Weighted- Average
Grant Date Fair Value		 Weighted- Average
Remaining
Term in Years
Non-vested Outstanding at December 31, 2023 229,373 $ 1.64  2.57
Released (12,335) $ 3.83 
Forfeited (250) $ 3.83 
Non-vested Outstanding at March 31, 2024 216,788 $ 1.51  2.34