Annual report pursuant to Section 13 and 15(d)

STATEMENTS OF CHANGES IN MEMBERS' AND SHAREHOLDERS' EQUITY

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STATEMENTS OF CHANGES IN MEMBERS' AND SHAREHOLDERS' EQUITY - USD ($)
Membership Interest
Members' Equity, Class A
Membership Interest
Members' Equity, Class B
Common Stock
Additional Paid-In Capital
Accumulated Deficit
Total
Balance at beginning at Dec. 31, 2020 $ 16,402,198 $ 100,000     $ (13,800,612) $ 2,701,586
Balance at beginning, Member Units (in shares) at Dec. 31, 2020 13,493,807 100,000        
Executive Compensation Settled with Membership Interests $ 186,650 $ 730,115       916,765
Executive Compensation Settled with Membership Interests (in shares) 57,430 471,042        
Cancellation of Class B Issuance (in shares)   (471,042)        
Share-Based Compensation $ 755,556     $ 4,399,158   5,154,714
Share-Based Compensation (in shares) 400,936          
Share-Based Payments to Vendors $ 172,971   $ 300 1,414,470   1,587,741
Share-Based Payments to Vendors (in shares) 30,145   299,584      
Corporate Conversion $ (17,517,375) $ (830,115) $ 7,041 18,340,449    
Corporate Conversion (in shares) (13,982,318) (100,000) 7,041,208      
Initial Public Offering and underwriter warrants, net of cash issuance costs     $ 2,875 14,794,257   14,797,132
Initial Public Offering and underwriter warrants, net of cash issuance costs (in shares)     2,875,000      
Net Loss         (12,747,697) (12,747,697)
Balance at ending at Dec. 31, 2021     $ 10,216 38,948,334 (26,548,309) $ 12,410,241
Balance at ending, Common shares (in shares) at Dec. 31, 2021     10,215,792     10,215,792
Share-Based Compensation       2,871,681   $ 2,871,681
Share-Based Payments to Vendors     $ 115 430,565   430,680
Share-Based Payments to Vendors (in shares)     114,889      
Cashless Warrant Exercise     $ 7 (7)    
Cashless Warrant Exercise (in shares)     6,948      
Pre-funded Warrant Exercise     $ 131 (118)   13
Pre-funded Warrant Exercise (in shares)     130,769      
Initial Public Offering and underwriter warrants, net of cash issuance costs     $ 1,159 3,694,023   3,695,182
Initial Public Offering and underwriter warrants, net of cash issuance costs (in shares)     1,159,211      
Net Loss         (12,092,776) (12,092,776)
Balance at ending at Dec. 31, 2022     $ 11,628 $ 45,944,478 $ (38,641,085) $ 7,315,021
Balance at ending, Common shares (in shares) at Dec. 31, 2022     11,627,609     11,627,609