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587000
587000
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-8520000
1302500
527000
59341305
59000
270347000
-263407000
7526000
1302500
510000
59395805
59000
272772000
-290287000
-16946000
12600
21000
18000
39000
17600
-29000
2000
-27000
738000
738000
681000
681000
-8597000
-8597000
1260000
510000
59426005
59000
274241000
-298868000
-24058000
1302500
527000
57077055
56000
261883000
-239996000
22470000
26050
78000
-40000
38000
31112
-92000
65000
-27000
845214
1000
3863000
3864000
1329181
2000
2949000
2951000
32693
1482000
1482000
-23306000
-23306000
1302500
527000
59341305
59000
270347000
-263407000
7526000
1302500
527000
59341305
59000
271001000
-270694000
893000
25625
41000
-2000
39000
35200
-58000
30000
-28000
-42500
-17000
7287
17000
738000
738000
200000
200000
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2186000
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274241000
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-24058000
<div style="font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">1. Basis of Presentation<br/>
</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;"> <br/>
</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;">Galectin Therapeutics Inc. and subsidiaries (the “Company”) is a clinical stage biopharmaceutical company that is applying its leadership in galectin science and
drug development to create new therapies for fibrotic disease and cancer. These candidates are based on the Company’s targeting of galectin proteins which are key mediators of biologic and pathologic function. These compounds also may have
application for drugs to treat other diseases and chronic health conditions.</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;"> <br/>
</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;">The unaudited condensed consolidated financial statements as reported in this Quarterly Report on Form 10-Q reflect all adjustments which are, in the opinion of
management, necessary to present fairly the financial position of the Company as of September 30, 2022 and the results of its operations for the three and nine months ended September 30, 2022 and 2021 and its cash flows for the nine months ended
September 30, 2022 and 2021. All adjustments made to the interim financial statements include all those of a normal and recurring nature. Amounts presented in the condensed consolidated balance sheet as of December 31, 2021 are derived from the
Company’s audited consolidated financial statements as of that date, but do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements.
The Company considers events or transactions that occur after the balance sheet date but before the financial statements are issued to provide additional evidence relative to certain estimates or to identify matters that require additional
disclosure. Subsequent events have been evaluated through the date these financial statements are available to be issued. The results for interim periods are not necessarily indicative of results that may be expected for any other interim period
or for the full year. The unaudited condensed consolidated financial statements of the Company should be read in conjunction with its Annual Report on Form 10-K for the year ended December 31, 2021.</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; margin-top: 8pt; font-family: 'Times New Roman'; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The
Company has operated at a loss since its inception and has had no revenues. The Company anticipates that losses will continue for the foreseeable future. At September 30, 2022, the company had $15,831,000 of unrestricted cash and cash equivalents available to fund future operations. In July 2022, the Company entered into a $60 million unsecured line of credit financing with its chairman, Richard E. Uihlein (See Note 5). The Company believes there is sufficient cash,
including availability of the line of credit, to fund currently planned operations at least through December 31, 2024. <span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">To meet its future capital needs, the Company intends to raise additional capital through debt or equity financings, collaborations, partnerships or other
strategic transactions. However, there can be no assurance that the Company will be able to complete any such transactions on acceptable terms or otherwise. The inability of the Company to obtain sufficient funds on acceptable terms when
needed could have a material adverse effect on the Company’s business, results of operations and financial condition. The Company has the ability to delay certain research activities and related clinical expenses if necessary due to liquidity
concerns until a date when those concerns are relieved.</span></div>
<div><span style="font-family: 'Times New Roman'; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="font-family: 'Times New Roman'; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-family: 'Times New Roman'; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> <br/>
</span> </div>
<div><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">The Company was
founded in July 2000, was incorporated in the State of Nevada in January 2001 under the name “Pro-Pharmaceuticals, Inc.,” and changed its name to “Galectin Therapeutics Inc.” on May 26, 2011.</div>
15831000
60000000
<div style="font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">2. Accrued Expenses and Other</div>
<div style="font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;"> <br/>
</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;">Accrued expenses consist of the following:</div>
<div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div>
<table border="0" cellpadding="0" cellspacing="0" class="cfttable" style="width: 100%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">
<tr>
<td style="vertical-align: bottom; padding-bottom: 2px; width: 76%;" valign="bottom">
<div> </div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="text-align: center;"> <span style="font-weight: bold;">September 30,<br/>
2022</span></div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="text-align: center;"><span style="font-weight: bold;">December 31,<br/>
</span> <span style="font-weight: bold;">2021</span></div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 76%;" valign="bottom">
<div> </div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td>
<td colspan="6" style="vertical-align: bottom;" valign="bottom">
<div style="text-align: center;">(in thousands)</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="text-indent: -27pt; margin-left: 27pt;">Legal and accounting fees</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>123</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>68</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%;" valign="bottom">
<div style="text-indent: -27pt; margin-left: 27pt;">Accrued compensation</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>751</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>728</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="text-indent: -27pt; margin-left: 27pt;">Lease liability</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>39</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>8</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
<div style="text-indent: -27pt; margin-left: 27pt;">Accrued research and development costs and other</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div>6,323</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div>6,359</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255); padding-bottom: 4px;" valign="bottom">
<div style="text-indent: -27pt; margin-left: 27pt;">Total</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div>7,236</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div>7,163</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
</tr>
</table>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;"> <br/>
</div>
<div style="display:none;"><br/></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-indent: 24.5pt;">Research and development expenses, including personnel costs, allocated facility costs, lab supplies, outside services, contract laboratory costs related to
manufacturing drug product, clinical trials and preclinical studies are charged to research and development expense as incurred. The Company accounts for nonrefundable advance payments for goods and services that will be used in future research
and development activities as expense when the service has been performed or when the goods have been received. Our current NAVIGATE clinical trial is being supported by third-party contract research organizations, or CROs, and other vendors. We
accrue expenses for clinical trial activities performed by CROs based upon the estimated amount of work completed on each trial. For clinical trial expenses and related expenses associated with the conduct of clinical trials, the significant
factors used in estimating accruals include the number of patients enrolled, the number of active clinical sites, and the duration for which the patients have been enrolled in the trial. We monitor patient enrollment levels and related activities
to the extent possible through internal reviews, review of contractual terms and correspondence with CROs. We base our estimates on the best information available at the time. We monitor patient enrollment levels and related activities to the
extent possible through discussions with CRO personnel and based our estimates of clinical trial costs on the best information available at the time. However, additional information may become available to us which will allow us to make a more
accurate estimate in future periods. In that event, we may be required to record adjustments to research and development expenses in future periods when the actual level of activity becomes more certain.</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;">Accrued expenses consist of the following:</div>
<div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div>
<table border="0" cellpadding="0" cellspacing="0" class="cfttable" style="width: 100%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">
<tr>
<td style="vertical-align: bottom; padding-bottom: 2px; width: 76%;" valign="bottom">
<div> </div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="text-align: center;"> <span style="font-weight: bold;">September 30,<br/>
2022</span></div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="text-align: center;"><span style="font-weight: bold;">December 31,<br/>
</span> <span style="font-weight: bold;">2021</span></div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 76%;" valign="bottom">
<div> </div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td>
<td colspan="6" style="vertical-align: bottom;" valign="bottom">
<div style="text-align: center;">(in thousands)</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="text-indent: -27pt; margin-left: 27pt;">Legal and accounting fees</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>123</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>68</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%;" valign="bottom">
<div style="text-indent: -27pt; margin-left: 27pt;">Accrued compensation</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>751</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>728</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="text-indent: -27pt; margin-left: 27pt;">Lease liability</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>39</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>8</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
<div style="text-indent: -27pt; margin-left: 27pt;">Accrued research and development costs and other</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div>6,323</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div>6,359</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255); padding-bottom: 4px;" valign="bottom">
<div style="text-indent: -27pt; margin-left: 27pt;">Total</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div>7,236</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div>7,163</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
</tr>
</table>
123000
68000
751000
728000
39000
8000
6323000
6359000
7236000
7163000
<div style="display:none;"><br/></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; text-indent: 0px; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">3. Convertible Notes Payable – Related Party</div>
<div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt;"> <span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="display:none;"><br/></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; text-indent: 24.5pt; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none; font-weight: normal;">On April 16, 2021, the Company and
Richard E. Uihlein entered into a debt financing arrangement whereby Mr. Uihlein loaned $10,000,000 to Company. In consideration for
the loan, the Company issued a convertible promissory note (the “April Note”) in the principal amount of ten million dollars.</div>
<div><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt;"> <span style="font-family: 'Times New Roman'; font-size: 10pt; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none; font-weight: normal;"><br/>
</span> </div>
<div><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="display:none;"><br/></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; text-indent: 24.5pt; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none; font-weight: normal;">The April Note has a maturity date of April 16, 2025, is prepayable at the option of the Company in whole or in part at any time and is convertible into the Company’s common stock at a
conversion price equal to $5.00 per share at the option of the noteholder. The April Note bears interest at the rate of two percent (2%) per annum, compounded annually. For the three and nine months ended September 30, 2022, approximately $50,000 and $150,000 of interest expense, respectively, was
accrued and included with the principal in the financial statements. Inception to September 30, 2022, approximately $292,000 of
interest expense has been accrued and included with the principal balance.</div>
<div><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt;"> <span style="font-family: 'Times New Roman'; font-size: 10pt; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none; font-weight: normal;"><br/>
</span> </div>
<div><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="display:none;"><br/></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; text-indent: 24.5pt; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none; font-weight: normal;">The April Note also includes a contingent
interest component that requires the Company to pay additional interest at a rate of two and one-half percent (2.5%) per quarter (10% per annum) (the “Additional Interest”) beginning on the date of issuance of this Note and ending on the maturity date, provided however, that such
payment is only required if and only if the noteholder elects to convert the entire balance of the April Note into the Company’s common stock on or prior to maturity. As the contingent event is not based on creditworthiness, such feature is not
clearly and closely related to the host instrument and accordingly must be bifurcated and recognized as a derivative liability and a debt discount on the April Note at its inception. The fair value of the contingent interest derivative liability
was $420,000 and $373,000
at note inception (April 16, 2021) and <span style="font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-align: left; text-indent: 48px; white-space: normal; word-spacing: 0px; text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none;">September 30</span>, 2022, respectively, and is recognized as a derivative liability in the consolidated balance sheet. The change in the fair value of the derivative
liability from December 31, 2021 to <span style="font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-align: left; text-indent: 48px; white-space: normal; word-spacing: 0px; text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none;">September 30</span>, 2022 of ($122,000) was charged to
other income for the nine months ended <span style="font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-align: left; text-indent: 48px; white-space: normal; word-spacing: 0px; text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none;">September 30</span>, 2022. The amortization of the debt discount of $420,000
recorded initially upon note inception of $79,000 was recorded as additional interest expense <span style="font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-align: left; text-indent: 48px; white-space: normal; word-spacing: 0px; text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none;">for
the for the nine months ended <span style="font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-align: left; text-indent: 48px; white-space: normal; word-spacing: 0px; text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none;">September 30</span>, 2022.</span></div>
<div><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt;"> <span style="font-family: 'Times New Roman'; font-size: 10pt; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none; font-weight: normal;"><br/>
</span> </div>
<div><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="display:none;"><br/></div>
<div style="text-align: left; text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none; font-weight: normal;">On September 17, 2021, the Company and
Mr. Uihlein entered into a loan agreement in the aggregate of $20,000,000 (the “Loan Agreement”) to be funded in two closings and evidenced by two
separate unsecured convertible promissory notes. The first of the two promissory notes was also executed and delivered on September
17, 2021, (the “September Note”) to evidence the first loan in the principal amount of $10,000,000. The second closing under the Loan
Agreement for the remaining $10,000,000 occurred on December 20, 2021.</div>
<div><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none; font-weight: normal;"> <span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/>
</span> </div>
<div><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="display:none;"><br/></div>
<div style="text-align: left; text-indent: 24.5pt;"><span style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-weight: normal; font-style: normal; font-variant: normal; text-transform: none;">The September Note has a
maturity date of September 17, 2025, is prepayable at the option of the Company in whole or in part at any time and is convertible
into the Company’s common stock at a conversion price equal to $8.64 per share at the option of the noteholder. The September Note
bears interest at the rate of two percent (2%) per annum, compounded annually. </span><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; text-align: left; text-indent: 48px; text-transform: none; white-space: normal; word-spacing: 0px; text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none;"> </span><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">For the three and nine months ended September 30, 2022, approximately $50,000 and $150,000, respectively, of interest expense was accrued and included with the principal in the financial statements. Inception to September 30, 2022,
approximately $207,000 of interest expense has been accrued and included with the principal balance. </span></div>
<div style="display:none;"><br/></div>
<div style="text-align: left; text-indent: 24.5pt; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><span style="font-weight: normal; letter-spacing: normal; text-align: left; text-indent: 48px; white-space: normal; word-spacing: 0px; text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none;"> <br/>
</span></div>
<div style="display:none;"><br/></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; text-indent: 24.5pt;"><span style="letter-spacing: normal; text-align: left; text-indent: 48px; white-space: normal; word-spacing: 0px; text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none; font-weight: normal;">The September Note also includes a contingent interest component that requires the Company to pay
additional interest at a rate of two and one-half percent (2.5%) per quarter (10% per annum) (the “Additional Interest”) beginning on the date of issuance of this Note and ending on the maturity date, provided however, that such payment is only
required if and only if the noteholder elects to convert the entire balance of the September Note into the Company’s common stock on or prior to maturity. As the contingent event is not based on creditworthiness, such feature is not clearly and
closely related to the host instrument and accordingly must be bifurcated and recognized as a derivative liability and a debt discount on the September Note at its inception. The fair value of the contingent interest derivative liability was $433,000 and $177,000 at note
inception (September 17, 2021) and <span style="font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-align: left; text-indent: 48px; white-space: normal; word-spacing: 0px; text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none;">September 30</span>, 2022, respectively, and is recognized as a derivative liability in the consolidated balance sheet. The change in the fair value of the derivative
liability from December 31, 2021 to <span style="font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-align: left; text-indent: 48px; white-space: normal; word-spacing: 0px; text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none;">September 30</span>, 2022 of ($73,000) was recorded to
other income for the nine months ended <span style="font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-align: left; text-indent: 48px; white-space: normal; word-spacing: 0px; text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none;">September 30</span>, 2022. The amortization of the debt discount of $433,000
recorded initially upon note inception of $81,000 was recorded as additional interest expense for the nine months ended <span style="font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-align: left; text-indent: 48px; white-space: normal; word-spacing: 0px; text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none;">September 30</span>, 2022.</span><span class="HorizontalTab" style="width: 9pt; font-size: 10pt; display: inline-block; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;"><span style="font-weight: normal;"> <br/>
</span></div>
<div style="display:none;"><br/></div>
<div style="color: #000000; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-align: left; text-indent: 24.5pt; text-transform: none;"><span style="font-weight: normal;">On December 20, 2021, the second
of the two promissory notes under the Loan Agreement was executed and delivered, (the “December Note”) to evidence the second loan
in the principal amount of $10,000,000. The December Note has a maturity date of December 20, 2025, is prepayable at the option of the Company in whole or in part at any time and is convertible into the Company’s common stock at a conversion price equal
to $5.43 per share at the option of the noteholder. The December Note bears interest at the rate of two percent (2%) per annum, compounded annually. </span>For the three and nine months ended September 30, 2022, approximately $50,000 and $150,000, respectively, of
interest expense was accrued and included with the principal in the financial statements. Inception to September 30, 2022, approximately $156,000
of interest expense has been accrued and included with the principal balance.</div>
<div style="display:none;"><br/></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; text-indent: 24.5pt; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;"><span style="font-weight: normal;"> <br/>
</span></div>
<div style="display:none;"><br/></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; text-indent: 24.5pt; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;"><span style="font-weight: normal;">The December Note also
includes a contingent interest component that requires the Company to pay additional interest at a rate of two and one-half percent (2.5%)
per quarter (10% per annum) (the “Additional Interest”) beginning on the date of issuance of this Note and ending on the maturity
date, provided however, that such payment is only required if and only if the noteholder elects to convert the entire balance of the December Note into the Company’s common stock on or prior to maturity. As the contingent event is not based on
creditworthiness, such feature is not clearly and closely related to the host instrument and accordingly must be bifurcated and recognized as a derivative liability and a debt discount on the December Note at its inception. The fair value of
the contingent interest derivative liability was $415,000 and $301,000 at note inception (December 20, 2021) and <span style="font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-align: left; text-indent: 48px; white-space: normal; word-spacing: 0px; text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none;">September 30</span>, 2022, respectively, and is recognized as a derivative liability in the
consolidated balance sheet. The change in the fair value of the derivative liability from December 31, 2021 to <span style="font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-align: left; text-indent: 48px; white-space: normal; word-spacing: 0px; text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none;">September 30</span>, 2022 of ($85,000) was recorded to other income for nine months ended <span style="font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-align: left; text-indent: 48px; white-space: normal; word-spacing: 0px; text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none;">September 30</span>, 2022. The amortization of the debt discount of $415,000 recorded initially upon note inception of $78,000
was recorded as additional interest expense for the for nine months ended </span>September<span style="font-weight: normal;"><span style="font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-align: left; text-indent: 48px; white-space: normal; word-spacing: 0px; text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none;"> 30</span>, 2022. </span></div>
<div style="display:none;"><br/></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; text-indent: 24.5pt; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;"><span style="font-weight: normal;"> <br/>
</span></div>
<div style="display:none;"><br/></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; text-indent: 24.5pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;"><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company’s contractual cash obligations related to the outstanding
convertible notes payable is a repayment of the April Note of the $10,000,000 plus accrued interest on April 16, 2025 and a
repayment of the September Note of the $10,000,000 <span style="font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-align: left; white-space: normal; word-spacing: 0px; text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none;">plus accrued interest on September 17, 2025 and a
repayment of the December Note of the $10,000,000 plus accrued interest on December 30, 2025, unless converted at the option of
the noteholder.</span></span> </span> </div>
10000000
10000000
2025-04-16
5
0.02
50000
150000
292000
0.025
0.10
420000
373000
-122000
420000
79000
20000000
2
2
2
10000000
10000000
2025-09-17
8.64
0.02
50000
150000
207000
0.025
0.10
433000
177000
-73000
433000
81000
2
10000000
2025-12-20
5.43
0.02
50000
150000
156000
0.025
0.10
415000
301000
-85000
415000
78000
10000000
10000000
10000000
<div style="font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">4. Fair Value of Financial Instruments</div>
<div style="font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;"> <br/>
</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;">The Company has certain financial assets and liabilities recorded at fair value. Fair values determined by Level 1 inputs utilize observable data such as quoted
prices in active markets. Fair values determined by Level 2 inputs utilize data points other than quoted prices in active markets that are observable either directly or indirectly. Fair values determined by Level 3 inputs utilize unobservable
data points in which there is little or no market data, which require the reporting entity to develop its own assumptions. The carrying amounts reflected in the consolidated balance sheets for cash equivalents, accounts payable and accrued
expenses approximate their carrying value due to their short-term nature. There were no level 2 <span style="color: rgb(0, 0, 0); font-family: 'Times New Roman', Times, serif; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: left; text-indent: 32.6667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; display: inline !important; float: none;">assets or liabilities at </span>September 30, 2022 or December 31, 2021. See below for Fair Value of Derivatives related to Convertible Notes Payable at September 30, 2022 and December 31, 2021, which
are level 3 liabilities.</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;"> <br/>
</div>
<div style="display:none;"><br/></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-indent: 27pt;">Assets and liabilities measured and recorded at fair value on a recurring basis at September 30, 2022 were as follows: </div>
<div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div>
<table border="0" cellpadding="0" cellspacing="0" class="cfttable" style="width: 100%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">
<tr>
<td colspan="1" style="vertical-align: bottom; padding-left: 23%; width: 52%;" valign="bottom"><br/>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td>
<td colspan="2" rowspan="1" style="vertical-align: bottom;" valign="bottom">
<div style="text-align: center; font-weight: bold;">Level 1</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; font-weight: normal;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; font-weight: normal;" valign="bottom"> </td>
<td colspan="2" rowspan="1" style="vertical-align: bottom;" valign="bottom">
<div style="text-align: center; font-weight: bold;">Level 2</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; font-weight: normal;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; font-weight: normal;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom;" valign="bottom">
<div style="text-align: center; font-weight: bold;">Level 3</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; font-weight: normal; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; font-weight: normal;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom;" valign="bottom">
<div style="text-align: center; font-weight: bold;">Total</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; background-color: rgb(204, 238, 255);" valign="bottom">
<div>Derivative Liability – Contingent Interest April Note <br/>
</div>
</td>
<td colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%; white-space: nowrap;" valign="bottom"> $</td>
<td colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 9%; text-align: right; white-space: nowrap;" valign="bottom">—</td>
<td colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%; white-space: nowrap;" valign="bottom"> $</td>
<td style="vertical-align: bottom; width: 9%; background-color: rgb(204, 238, 255); text-align: right; white-space: nowrap;" valign="bottom">—<br/>
</td>
<td colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">
<div>373,000<br/>
</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">
<div>373,000<br/>
</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td rowspan="1" style="vertical-align: top; width: 52%;" valign="bottom">Derivative Liability – Contingent Interest September Note <br/>
</td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> $</td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 9%; text-align: right; white-space: nowrap;" valign="bottom">—</td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> $</td>
<td rowspan="1" style="vertical-align: bottom; width: 9%; text-align: right; white-space: nowrap;" valign="bottom">—</td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">$<br/>
</td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">177,000</td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">$<br/>
</td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">177,000</td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td rowspan="1" style="vertical-align: top; width: 52%; background-color: rgb(204, 238, 255);" valign="bottom">Derivative Liability – Contingent Interest December Note</td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> $</td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 9%; text-align: right; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">—</td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> $</td>
<td rowspan="1" style="vertical-align: bottom; width: 9%; text-align: right; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">—</td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">$ <br/>
</td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">301,000</td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">$</td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">301,000</td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
</tr>
</table>
<div>
<br/>
</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.3pt; margin-right: 41pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The April Note derivative liability –
contingent interest was valued using a Monte Carlo Geometric Brownian Stock Path Model. The key assumptions used in the model at inception, and at September 30, 2022 are as follows:</div>
<div><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: normal; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;"> </div>
<table border="0" cellpadding="0" cellspacing="0" class="cfttable" style="color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left; width: 100%;">
<tr>
<td rowspan="1" style="vertical-align: bottom;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom;" valign="bottom"> </td>
<td colspan="2" rowspan="1" style="vertical-align: bottom;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom;" valign="bottom"> </td>
<td colspan="2" rowspan="1" style="vertical-align: bottom; font-weight: bold; text-align: center;" valign="bottom">September 30,</td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">
<div> </div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; font-weight: bold;">Inception</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;" valign="bottom"> <span style="font-weight: bold;">2022</span><br/>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom">
<div>Stock Price</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>2.19</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>1.63</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%;" valign="bottom">
<div>Conversion Price of conversion feature</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>5.00</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>5.00</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; background-color: #CCEEFF;" valign="bottom">
<div>Term</div>
</td>
<td colspan="1" style="vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="text-align: right;">4 years<br/>
</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="text-align: right;">2.54 years</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%;" valign="bottom">
<div>Risk Free Interest Rate</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>0.59</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">
<div>%</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>4.24</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">
<div>%</div>
</td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom">
<div>Credit Adjusted Discount Rate</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>7.60</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>%</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>17.42</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>%</div>
</td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%;" valign="bottom">
<div>Volatility</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>88</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">
<div>%</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>83</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">
<div>%</div>
</td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom">
<div>Dividend Rate</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>0</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">%<br/>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>0</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">%<br/>
</td>
</tr>
</table>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;"> <br/>
</div>
<div><br/>
</div>
<div style="margin-left: 3pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The roll forward of
the April Note derivative liability – contingent interest is as follows:</div>
<div><br/></div>
<table border="0" cellpadding="0" cellspacing="0" class="cfttable" style="color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left; width: 100%;">
<tr>
<td style="vertical-align: top; width: 88%; background-color: #CCEEFF;" valign="bottom">
<div>Balance – December 31, 2020</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>—</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 88%;" valign="bottom">
<div>Issuance of April convertible note payable – related party</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>420,000</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 88%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom">
<div>Fair Value Adjustment</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>75,000</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 88%;" valign="bottom">
<div>Balance – December 31, 2021</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>495,000</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td rowspan="1" style="vertical-align: top; width: 88%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom">Fair Value Adjustment</td>
<td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">(122,000</td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">)</td>
</tr>
<tr>
<td rowspan="1" style="vertical-align: top; width: 88%; padding-bottom: 2px;" valign="bottom">
<div>Balance – September 30, 2022</div>
</td>
<td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">$</td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">373,000</td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
</table>
<div><br/>
</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.3pt; margin-right: 22pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The September Note derivative
liability – contingent interest was valued using a Monte Carlo Geometric Brownian Stock Path Model. The key assumptions used in the model at inception, and at September 30, 2022 are as follows:</div>
<div><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><br/>
</div>
<table cellpadding="0" cellspacing="0" class="cfttable" style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%;">
<tr>
<td rowspan="1" style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" rowspan="1" style="text-align: center; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;"> <span style="font-weight: bold;">Inception</span></td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div style="text-align: center; text-indent: 6pt; font-size: 10pt; font-weight: bold;"><span style="text-indent: 0pt;">September 30</span>, <span style="text-indent: 0pt;">2022</span></div>
</td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="text-indent: -12pt; margin-left: 12pt;">Stock Price</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">
<div>4.06</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">
<div>1.63</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%;" valign="bottom">
<div style="text-indent: -12pt; margin-left: 12pt;">Conversion Price of conversion feature</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>8.64</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>8.64<br/>
</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="text-indent: -12pt; margin-left: 12pt;">Term</div>
</td>
<td colspan="3" style="vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="text-align: right; text-indent: -18pt;"><span style="text-indent: 0pt;">4 years</span> <br/>
</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="3" style="vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="text-indent: 6pt; text-align: right;"><span style="text-indent: 0pt;">2.97</span> years</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%;" valign="bottom">
<div style="text-indent: -12pt; margin-left: 12pt;">Risk Free Interest Rate</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>0.68</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">
<div>%</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>4.25</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">
<div>%</div>
</td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="text-indent: -12pt; margin-left: 12pt;">Credit Adjusted Discount Rate</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">
<div>7.59</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>%</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">
<div>17.42</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>%</div>
</td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%;" valign="bottom">
<div style="text-indent: -12pt; margin-left: 12pt;">Volatility</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>91</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">
<div>%</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>83</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">
<div>%</div>
</td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="text-indent: -12pt; margin-left: 12pt;">Dividend Rate</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">
<div>0</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">% <br/>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">
<div>0</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">%<br/>
</td>
</tr>
</table>
<div><br/>
</div>
<div style="display:none;"><br/></div>
<div style="background-color: #FFFFFF; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; text-indent: 27pt; text-transform: none;">The roll forward of the September
Note derivative liability – contingent interest is as follows: </div>
<div><br/>
</div>
<table border="0" cellpadding="0" cellspacing="0" class="cfttable" style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%;">
<tr>
<td style="vertical-align: top; width: 88%; background-color: #CCEEFF;" valign="bottom">
<div style="text-indent: -12pt; margin-left: 12pt; font-family: 'Times New Roman';">Balance – December 31, 2020</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">$</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">—</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td rowspan="1" style="vertical-align: bottom; text-align: left; width: 88%;" valign="bottom">
<div style="font-family: 'Times New Roman';">Issuance of September convertible note payable – related party</div>
</td>
<td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">433,000</td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td rowspan="1" style="vertical-align: bottom; text-align: left; width: 88%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom">
<div style="font-family: 'Times New Roman';">Fair Value Adjustment</div>
</td>
<td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">(183,000</td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">)</td>
</tr>
<tr>
<td style="vertical-align: top; width: 88%;" valign="bottom">
<div style="text-indent: -12pt; margin-left: 12pt; font-family: 'Times New Roman';">Balance – December 31, 2021</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">$</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">250,000</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td rowspan="1" style="vertical-align: top; width: 88%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom">Fair Value Adjustment</td>
<td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">(73,000</td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">)</td>
</tr>
<tr>
<td rowspan="1" style="vertical-align: top; width: 88%; padding-bottom: 2px;" valign="bottom">Balance – September<span style="font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-align: left; text-indent: 48px; white-space: normal; word-spacing: 0px; text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none;"> 30</span>, 2022</td>
<td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">$</td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">177,000</td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
</table>
<div>
<br/></div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.3pt; margin-right: 23pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The December Note derivative
liability – contingent interest was valued using a Monte Carlo Geometric Brownian Stock Path Model. The key assumptions used in the model at inception, and at September 30, 2022 are as follows:</div>
<div><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span>
<br/></div>
<table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman', Times, serif; letter-spacing: normal; orphans: 2; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;">
<tr>
<td rowspan="1" style="vertical-align: bottom; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;" valign="bottom"> </td>
<td colspan="2" rowspan="1" style="vertical-align: bottom; font-weight: bold; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="text-align: center; vertical-align: bottom; font-weight: bold; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: center; font-weight: bold; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;" valign="bottom"> </td>
<td colspan="2" rowspan="1" style="vertical-align: bottom; text-align: center; font-weight: bold;" valign="bottom"><span style="font-variant: normal; letter-spacing: normal; text-indent: 48px; white-space: normal; word-spacing: 0px; text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; text-transform: none;"><span style="text-indent: 0pt;">September 30</span>,</span></td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; padding-bottom: 2px; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="text-align: center; font-weight: bold; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Inception</div>
</td>
<td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: center; padding-bottom: 2px; font-weight: bold; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="text-align: center; font-weight: bold; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2022</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Stock Price</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2.32</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">1.63</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 76%;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Conversion Price of conversion feature</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">5.43</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">5.43</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; background-color: #CCEEFF;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Term</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; text-align: right; background-color: #CCEEFF;" valign="bottom"><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">4 years<br/>
</span> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; background-color: #CCEEFF;" valign="bottom">
<div style="text-align: right; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">3.22 years</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 76%;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Risk Free Interest Rate</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">1.04</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">%</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">4.24</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">%</div>
</td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Credit Adjusted Discount Rate</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">8.54</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">%</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">17.42</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">%</div>
</td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 76%;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Volatility</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">86</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">%</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">81</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">%</div>
</td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Dividend Rate</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">0</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">%<br/>
</span> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">0</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">%<br/>
</span> </td>
</tr>
</table>
<div><br/>
</div>
<div style="display:none;"><br/></div>
<div style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-indent: 27pt;">The roll forward
of the December Note derivative liability – contingent interest is as follows: </div>
<div><br/></div>
<table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman', Times, serif; letter-spacing: normal; orphans: 2; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;">
<tr>
<td style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;" valign="bottom">
<div>Balance – December 31, 2020</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
<div>—</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 88%;" valign="bottom">
<div>Issuance of September convertible note payable – related party</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
<div>415,000</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 88%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">
<div>Fair Value Adjustment</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div>(30,000</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px; white-space: nowrap;" valign="bottom">
<div>)</div>
</td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 88%;" valign="bottom">
<div>Balance – December 31, 2021</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
<div>385,000</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 88%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">
<div>Fair Value Adjustment</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div>(84,000</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px; white-space: nowrap;" valign="bottom">
<div>)</div>
</td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 88%; padding-bottom: 2px;" valign="bottom">
<div>Balance – <span style="font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-align: left; text-indent: 48px; white-space: normal; word-spacing: 0px; text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none;">September 30</span>, 2022</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">
<div>301,000</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
</table>
0
0
0
0
<div style="display:none;"><br/></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-indent: 27pt;">Assets and liabilities measured and recorded at fair value on a recurring basis at September 30, 2022 were as follows: </div>
<div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div>
<table border="0" cellpadding="0" cellspacing="0" class="cfttable" style="width: 100%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">
<tr>
<td colspan="1" style="vertical-align: bottom; padding-left: 23%; width: 52%;" valign="bottom"><br/>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td>
<td colspan="2" rowspan="1" style="vertical-align: bottom;" valign="bottom">
<div style="text-align: center; font-weight: bold;">Level 1</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; font-weight: normal;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; font-weight: normal;" valign="bottom"> </td>
<td colspan="2" rowspan="1" style="vertical-align: bottom;" valign="bottom">
<div style="text-align: center; font-weight: bold;">Level 2</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; font-weight: normal;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; font-weight: normal;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom;" valign="bottom">
<div style="text-align: center; font-weight: bold;">Level 3</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; font-weight: normal; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; font-weight: normal;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom;" valign="bottom">
<div style="text-align: center; font-weight: bold;">Total</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; background-color: rgb(204, 238, 255);" valign="bottom">
<div>Derivative Liability – Contingent Interest April Note <br/>
</div>
</td>
<td colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%; white-space: nowrap;" valign="bottom"> $</td>
<td colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 9%; text-align: right; white-space: nowrap;" valign="bottom">—</td>
<td colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%; white-space: nowrap;" valign="bottom"> $</td>
<td style="vertical-align: bottom; width: 9%; background-color: rgb(204, 238, 255); text-align: right; white-space: nowrap;" valign="bottom">—<br/>
</td>
<td colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">
<div>373,000<br/>
</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">
<div>373,000<br/>
</div>
</td>
<td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td rowspan="1" style="vertical-align: top; width: 52%;" valign="bottom">Derivative Liability – Contingent Interest September Note <br/>
</td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> $</td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 9%; text-align: right; white-space: nowrap;" valign="bottom">—</td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> $</td>
<td rowspan="1" style="vertical-align: bottom; width: 9%; text-align: right; white-space: nowrap;" valign="bottom">—</td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">$<br/>
</td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">177,000</td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">$<br/>
</td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">177,000</td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td rowspan="1" style="vertical-align: top; width: 52%; background-color: rgb(204, 238, 255);" valign="bottom">Derivative Liability – Contingent Interest December Note</td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> $</td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 9%; text-align: right; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">—</td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> $</td>
<td rowspan="1" style="vertical-align: bottom; width: 9%; text-align: right; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">—</td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">$ <br/>
</td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">301,000</td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">$</td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">301,000</td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
</tr>
</table>
0
0
373000
373000
0
0
177000
177000
0
0
301000
301000
<div>
<br/>
</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.3pt; margin-right: 41pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The April Note derivative liability –
contingent interest was valued using a Monte Carlo Geometric Brownian Stock Path Model. The key assumptions used in the model at inception, and at September 30, 2022 are as follows:</div>
<div><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: normal; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;"> </div>
<table border="0" cellpadding="0" cellspacing="0" class="cfttable" style="color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left; width: 100%;">
<tr>
<td rowspan="1" style="vertical-align: bottom;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom;" valign="bottom"> </td>
<td colspan="2" rowspan="1" style="vertical-align: bottom;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom;" valign="bottom"> </td>
<td colspan="2" rowspan="1" style="vertical-align: bottom; font-weight: bold; text-align: center;" valign="bottom">September 30,</td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">
<div> </div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; font-weight: bold;">Inception</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;" valign="bottom"> <span style="font-weight: bold;">2022</span><br/>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom">
<div>Stock Price</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>2.19</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>1.63</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%;" valign="bottom">
<div>Conversion Price of conversion feature</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>5.00</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>5.00</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; background-color: #CCEEFF;" valign="bottom">
<div>Term</div>
</td>
<td colspan="1" style="vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="text-align: right;">4 years<br/>
</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="text-align: right;">2.54 years</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%;" valign="bottom">
<div>Risk Free Interest Rate</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>0.59</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">
<div>%</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>4.24</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">
<div>%</div>
</td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom">
<div>Credit Adjusted Discount Rate</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>7.60</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>%</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>17.42</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>%</div>
</td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%;" valign="bottom">
<div>Volatility</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>88</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">
<div>%</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>83</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">
<div>%</div>
</td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom">
<div>Dividend Rate</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>0</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">%<br/>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>0</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">%<br/>
</td>
</tr>
</table>
2.19
1.63
5
5
P4Y
P2Y6M14D
0.0059
0.0424
0.076
0.1742
0.88
0.83
0
0
<div style="margin-left: 3pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The roll forward of
the April Note derivative liability – contingent interest is as follows:</div>
<div><br/></div>
<table border="0" cellpadding="0" cellspacing="0" class="cfttable" style="color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left; width: 100%;">
<tr>
<td style="vertical-align: top; width: 88%; background-color: #CCEEFF;" valign="bottom">
<div>Balance – December 31, 2020</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>—</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 88%;" valign="bottom">
<div>Issuance of April convertible note payable – related party</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>420,000</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 88%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom">
<div>Fair Value Adjustment</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>75,000</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 88%;" valign="bottom">
<div>Balance – December 31, 2021</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>495,000</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td rowspan="1" style="vertical-align: top; width: 88%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom">Fair Value Adjustment</td>
<td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">(122,000</td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">)</td>
</tr>
<tr>
<td rowspan="1" style="vertical-align: top; width: 88%; padding-bottom: 2px;" valign="bottom">
<div>Balance – September 30, 2022</div>
</td>
<td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">$</td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">373,000</td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
</table>
0
420000
75000
495000
-122000
373000
<div style="display:none;"><br/></div>
<div style="text-indent: 24.3pt; margin-right: 22pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The September Note derivative
liability – contingent interest was valued using a Monte Carlo Geometric Brownian Stock Path Model. The key assumptions used in the model at inception, and at September 30, 2022 are as follows:</div>
<div><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div>
<div><br/>
</div>
<table cellpadding="0" cellspacing="0" class="cfttable" style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%;">
<tr>
<td rowspan="1" style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" rowspan="1" style="text-align: center; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;"> <span style="font-weight: bold;">Inception</span></td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div style="text-align: center; text-indent: 6pt; font-size: 10pt; font-weight: bold;"><span style="text-indent: 0pt;">September 30</span>, <span style="text-indent: 0pt;">2022</span></div>
</td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="text-indent: -12pt; margin-left: 12pt;">Stock Price</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">
<div>4.06</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">
<div>1.63</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%;" valign="bottom">
<div style="text-indent: -12pt; margin-left: 12pt;">Conversion Price of conversion feature</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>8.64</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>8.64<br/>
</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="text-indent: -12pt; margin-left: 12pt;">Term</div>
</td>
<td colspan="3" style="vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="text-align: right; text-indent: -18pt;"><span style="text-indent: 0pt;">4 years</span> <br/>
</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="3" style="vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="text-indent: 6pt; text-align: right;"><span style="text-indent: 0pt;">2.97</span> years</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%;" valign="bottom">
<div style="text-indent: -12pt; margin-left: 12pt;">Risk Free Interest Rate</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>0.68</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">
<div>%</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>4.25</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">
<div>%</div>
</td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="text-indent: -12pt; margin-left: 12pt;">Credit Adjusted Discount Rate</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">
<div>7.59</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>%</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">
<div>17.42</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>%</div>
</td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%;" valign="bottom">
<div style="text-indent: -12pt; margin-left: 12pt;">Volatility</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>91</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">
<div>%</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>83</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">
<div>%</div>
</td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);" valign="bottom">
<div style="text-indent: -12pt; margin-left: 12pt;">Dividend Rate</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">
<div>0</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">% <br/>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">
<div>0</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">%<br/>
</td>
</tr>
</table>
4.06
1.63
8.64
8.64
P4Y
P2Y11M19D
0.0068
0.0425
0.0759
0.1742
0.91
0.83
0
0
<div style="display:none;"><br/></div>
<div style="background-color: #FFFFFF; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; text-indent: 27pt; text-transform: none;">The roll forward of the September
Note derivative liability – contingent interest is as follows: </div>
<div><br/>
</div>
<table border="0" cellpadding="0" cellspacing="0" class="cfttable" style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%;">
<tr>
<td style="vertical-align: top; width: 88%; background-color: #CCEEFF;" valign="bottom">
<div style="text-indent: -12pt; margin-left: 12pt; font-family: 'Times New Roman';">Balance – December 31, 2020</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">$</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">—</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td rowspan="1" style="vertical-align: bottom; text-align: left; width: 88%;" valign="bottom">
<div style="font-family: 'Times New Roman';">Issuance of September convertible note payable – related party</div>
</td>
<td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">433,000</td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td rowspan="1" style="vertical-align: bottom; text-align: left; width: 88%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom">
<div style="font-family: 'Times New Roman';">Fair Value Adjustment</div>
</td>
<td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">(183,000</td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">)</td>
</tr>
<tr>
<td style="vertical-align: top; width: 88%;" valign="bottom">
<div style="text-indent: -12pt; margin-left: 12pt; font-family: 'Times New Roman';">Balance – December 31, 2021</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">$</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">250,000</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td rowspan="1" style="vertical-align: top; width: 88%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom">Fair Value Adjustment</td>
<td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">(73,000</td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">)</td>
</tr>
<tr>
<td rowspan="1" style="vertical-align: top; width: 88%; padding-bottom: 2px;" valign="bottom">Balance – September<span style="font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-align: left; text-indent: 48px; white-space: normal; word-spacing: 0px; text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none;"> 30</span>, 2022</td>
<td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">$</td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">177,000</td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
</table>
0
433000
-183000
250000
-73000
177000
<div style="display:none;"><br/></div>
<div style="text-indent: 24.3pt; margin-right: 23pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The December Note derivative
liability – contingent interest was valued using a Monte Carlo Geometric Brownian Stock Path Model. The key assumptions used in the model at inception, and at September 30, 2022 are as follows:</div>
<div><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span>
<br/></div>
<table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman', Times, serif; letter-spacing: normal; orphans: 2; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;">
<tr>
<td rowspan="1" style="vertical-align: bottom; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;" valign="bottom"> </td>
<td colspan="2" rowspan="1" style="vertical-align: bottom; font-weight: bold; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="text-align: center; vertical-align: bottom; font-weight: bold; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: center; font-weight: bold; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;" valign="bottom"> </td>
<td colspan="2" rowspan="1" style="vertical-align: bottom; text-align: center; font-weight: bold;" valign="bottom"><span style="font-variant: normal; letter-spacing: normal; text-indent: 48px; white-space: normal; word-spacing: 0px; text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; text-transform: none;"><span style="text-indent: 0pt;">September 30</span>,</span></td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; padding-bottom: 2px; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="text-align: center; font-weight: bold; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Inception</div>
</td>
<td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: center; padding-bottom: 2px; font-weight: bold; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div style="text-align: center; font-weight: bold; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2022</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Stock Price</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2.32</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">1.63</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 76%;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Conversion Price of conversion feature</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">5.43</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">5.43</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; background-color: #CCEEFF;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Term</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; text-align: right; background-color: #CCEEFF;" valign="bottom"><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">4 years<br/>
</span> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; background-color: #CCEEFF;" valign="bottom">
<div style="text-align: right; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">3.22 years</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 76%;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Risk Free Interest Rate</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">1.04</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">%</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">4.24</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">%</div>
</td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Credit Adjusted Discount Rate</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">8.54</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">%</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">17.42</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">%</div>
</td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 76%;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Volatility</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">86</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">%</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">81</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">%</div>
</td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Dividend Rate</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">0</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">%<br/>
</span> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
<div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">0</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">%<br/>
</span> </td>
</tr>
</table>
2.32
1.63
5.43
5.43
P4Y
P3Y2M19D
0.0104
0.0424
0.0854
0.1742
0.86
0.81
0
0
<div><br/>
</div>
<div style="display:none;"><br/></div>
<div style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; text-indent: 27pt;">The roll forward
of the December Note derivative liability – contingent interest is as follows: </div>
<div><br/></div>
<table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman', Times, serif; letter-spacing: normal; orphans: 2; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;">
<tr>
<td style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;" valign="bottom">
<div>Balance – December 31, 2020</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
<div>—</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 88%;" valign="bottom">
<div>Issuance of September convertible note payable – related party</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
<div>415,000</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 88%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">
<div>Fair Value Adjustment</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div>(30,000</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px; white-space: nowrap;" valign="bottom">
<div>)</div>
</td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 88%;" valign="bottom">
<div>Balance – December 31, 2021</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
<div>385,000</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 88%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">
<div>Fair Value Adjustment</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
<div>(84,000</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px; white-space: nowrap;" valign="bottom">
<div>)</div>
</td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 88%; padding-bottom: 2px;" valign="bottom">
<div>Balance – <span style="font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-align: left; text-indent: 48px; white-space: normal; word-spacing: 0px; text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none;">September 30</span>, 2022</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">
<div>301,000</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
</table>
0
415000
-30000
385000
-84000
301000
<div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">5. Line of Credit – Related Party</div>
<div><br/>
</div>
<div style="display:none;"><br/></div>
<div style="text-align: left; text-indent: 16.2pt; margin-right: 10pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">On July 25, 2022, the Company and Richard E. Uihlein (the “Lender”) entered into a Line of Credit Letter Agreement
(the “Credit Agreement”), pursuant to which the Lender shall provide the Company a line of credit of up to $60.0 million (the “Line of
Credit”) to finance the Company’s working capital needs. The Company may draw upon the Line of Credit through July 31, 2024.</div>
<div><br/>
</div>
<div style="display:none;"><br/></div>
<div style="text-align: justify; text-indent: 16.2pt; margin-right: 12pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Each advance made pursuant to the Credit Agreement shall be evidenced by an unsecured, convertible promissory
note (individually, a “Promissory Note,” and collectively, the “Promissory Notes”), and bear interest at the Applicable Federal Rate for short term loans (currently 2.84%), plus two (2%) percent. Principal and interest on the Promissory Notes
are due on or before January 31, 2026. Only with the consent of the Lender, may the Promissory Notes be prepaid, in whole or in part, at
any time without premium or penalty, but with interest on the amount or amounts prepaid.</div>
<div><br/>
</div>
<div style="display:none;"><br/></div>
<div style="text-align: left; text-indent: 16.2pt; margin-right: 21pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">At the election of Lender, the principal and accrued interest on Promissory Note(s) may be converted into the
number of shares of the Company’s Common Stock equal to the amount of principal and accrued interest on such Promissory Note divided by the price equal to the closing price of the Common Stock on the date of such Promissory Note, but in no event
less than $3.00 per share.</div>
<div><br/>
</div>
<div style="display:none;"><br/></div>
<div style="text-align: left; text-indent: 16.2pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">In connection with the Credit Agreement, the Company agreed to issue the Lender warrants to purchase up to an aggregate of 1,700,000 shares of the Company’s common stock, par value $0.001
per share (collectively, the “Warrants”). Upon execution of the Credit Agreement, the Company issued the Lender a Warrant to purchase up to 500,000
shares of Company’s Common Stock at an exercise price of $5.00 per share, which Warrant is exercisable upon issuance. Further, pursuant
to the Credit Agreement, the Company shall issue to the Lender additional Warrants to purchase up to the remaining 1,200,000 shares of
the Company’s common stock, ratably, upon borrowings under the Credit Agreement, with exercise prices equal to 150% of the closing price
of the Company’s common Stock on the date of the Promissory Note evidencing such draw, but in no event more than $10.00 per share nor
less than $3.00 per share. The Warrants expire on July 31, 2029.</div>
<div style="display:none;"><br/></div>
<div style="text-align: left; text-indent: 16.2pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> <br/>
</div>
<div style="text-align: left; font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-weight: normal; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">The fair value of the 500,000 warrants vested at closing on July 25, 2022 was $738,000
at the date of issuance based on the following assumptions: an expected life of 7 years, volatility of 92%, risk free interest rate of 3.19%
and zero dividends. The fair value of the vested warrants was recorded in other assets (non-current) as a deferred financing cost and
will be amortized on a straight-line basis from July 25, 2022 through January 31, 2026. Amortization for the period ended September 30, 2022 of $39,000
was recorded as interest expense. The fair value of warrants that vest in the future based on borrowings will be computed when those borrowings occur and amortized over the remaining period through January 31, 2026.</div>
60000000
0.0284
0.02
2026-01-31
3
1700000
0.001
500000
5
1200000
1.50
10
3
2029-07-31
500000
738000
P7Y
0.92
0.0319
0
39000
<div style="font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">6. Stock-Based Compensation</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;"> <br/>
</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;">Following is the stock-based compensation expense related to common stock options, restricted common stock, common stock warrants and deferred stock units:</div>
<div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div>
<table border="0" cellpadding="0" cellspacing="0" class="cfttable" style="color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left; width: 100%;">
<tr>
<td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">
<div> </div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; font-weight: bold;">Three Months Ended<br/>
September 30,</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; font-weight: bold;">Nine Months Ended<br/>
September 30,</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">
<div> </div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; font-weight: bold;"> 2022<br/>
</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; font-weight: bold;">2021<br/>
</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; font-weight: bold;">2022<br/>
</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; font-weight: bold;">2021<br/>
</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom;" valign="bottom">
<div> </div>
</td>
<td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td>
<td colspan="14" style="vertical-align: bottom;" valign="bottom">
<div style="text-align: center; font-style: italic;">in thousands</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; background-color: #CCEEFF;" valign="bottom">
<div>Research and development</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>216</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>91</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>595</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>247</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; padding-bottom: 2px;" valign="bottom">
<div>General and administrative</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div>465</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div>496</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div>1,591</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div>1,175</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom">
<div style="margin-left: 9pt;">Total stock-based compensation expense</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>681</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>587</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>2,186</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>1,422</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
</table>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;"> <br/>
</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;">The following table summarizes the stock option activity in the Company’s equity incentive plans, including non-plan grants to Company executives, from December 31,
2021 through September 30, 2022:</div>
<div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div>
<table border="0" cellpadding="0" cellspacing="0" class="cfttable" style="color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left; width: 100%;">
<tr>
<td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">
<div> </div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; font-weight: bold;">Shares</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; font-weight: normal; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; font-weight: normal;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; font-weight: bold;">Weighted Average<br/>
Exercise Price</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom">
<div>Outstanding, December 31, 2021</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>4,895,561</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>3.14</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%;" valign="bottom">
<div style="margin-left: 9pt;">Granted</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>945,000</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>1.84</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom">
<div style="margin-left: 9pt;">Exercised</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">—<br/>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div/>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>—</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
<div style="margin-left: 9pt;">Options forfeited/cancelled</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div>(195,000</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom">
<div>)</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; white-space: nowrap;" valign="bottom">
<div>2.21</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255); padding-bottom: 4px;" valign="bottom">
<div>Outstanding, September 30, 2022</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div>5,645,561</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom">
<div>2.93</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
</tr>
</table>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;"> <br/>
</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;">As of September 30, 2022, there was $2,735,000 of
unrecognized compensation related to 2,694,584 unvested options, which is expected to be recognized over a weighted–average period of
approximately 1.5 years. The weighted-average grant date fair value for options granted during the nine months ended September 30,
2022 was $1.37. The Company granted 945,000
stock options during the nine months ended September 30, 2022.</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;"> <br/>
</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;">The fair value of all other options granted is determined using the Black-Scholes option-pricing model. The following weighted average assumptions were used:</div>
<div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div>
<table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;">
<tr>
<td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">
<div> </div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; font-weight: normal;"><span style="font-weight: bold;">Nine<br/>
Months Ended<br/>
</span> <span style="font-weight: bold;">September 30,</span></div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; font-weight: normal; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; font-weight: normal;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; font-weight: normal;"><span style="font-weight: bold;">Nine<br/>
Months Ended<br/>
</span> <span style="font-weight: bold;">September 30,</span></div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">
<div> </div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; font-weight: normal;"> <span style="font-weight: bold;">2022</span><br/>
</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; font-weight: normal; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; font-weight: normal;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; font-weight: normal;"><span style="font-weight: bold;">2021</span><br/>
</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom">
<div>Risk-free interest rate</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>1.56</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>%</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>0.58</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>%</div>
</td>
</tr>
<tr>
<td style="vertical-align: top;" valign="bottom">
<div>Expected life of the options</div>
</td>
<td colspan="1" style="vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; white-space: nowrap;" valign="bottom">
<div style="text-align: right;">5.6 years <br/>
</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; white-space: nowrap;" valign="bottom">
<div style="text-align: right;">6 years <br/>
</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom">
<div>Expected volatility of the underlying stock</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>94</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>%</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>91</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>%</div>
</td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%;" valign="bottom">
<div>Expected dividend rate</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>0<br/>
</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">%</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>0</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">%</td>
</tr>
</table>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;"> <br/>
</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;">In January 2022, one director elected to take a
restricted stock grant in lieu of cash retainers for 2022. A total of 17,677 shares of restricted stock valued at approximately $35,000 is being amortized to expense on a straight-line basis until December 31, 2022 when the stock vests in full.</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;"> <br/>
</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;">In March 2021, one director elected to take a
restricted stock grant in lieu of cash retainers for 2021. A total of 16,588 shares of restricted stock valued at approximately $35,000 is being amortized to expense on a straight-line basis until December 31, 2021 when the stock vested in full.</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;"> <br/>
</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;">In September 2020, the Company entered into an employment agreement with its new Chief Executive Officer whereby 20% of his base salary and performance bonuses will be paid in cash, and 80%
will be paid in the form of deferred stock units (“<span style="text-decoration: underline;">DSUs</span>”) in accordance with the terms and subject to the provisions set forth in the DSU Agreement. DSUs credited to Mr. Lewis as of any date shall be fully vested and nonforfeitable at all
times. The Company shall issue the shares underlying the outstanding whole number of DSUs credited to Mr. Lewis as follows: twenty five percent
shall be issued on March 1, 2023, twenty five percent shall be issued on September 1, 2023 and fifty percent shall be issued on March 1, 2024. For the nine months ended September 30, 2022, approximately $313,000 of his compensation was recorded as stock compensation expense representing 186,647 shares of common stock to be issued under the DSU agreement with a weighted average grant date fair value of $1.68 per share. Also, Mr. Lewis’ bonus for the year ended December 31, 2021 of $200,000
(which was included in accrued compensation at December 31, 2021) was approved in January 2022 and represents 103,627 shares of common
stock to be issued under the DSU agreement with a grant date fair value of $1.93 per share. The $200,000 was reclassified from accrued compensation to additional paid in capital in January 2022. There is no unrecognized compensation expense related to the DSUs.</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;">Following is the stock-based compensation expense related to common stock options, restricted common stock, common stock warrants and deferred stock units:</div>
<div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div>
<table border="0" cellpadding="0" cellspacing="0" class="cfttable" style="color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left; width: 100%;">
<tr>
<td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">
<div> </div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; font-weight: bold;">Three Months Ended<br/>
September 30,</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; font-weight: bold;">Nine Months Ended<br/>
September 30,</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">
<div> </div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; font-weight: bold;"> 2022<br/>
</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; font-weight: bold;">2021<br/>
</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; font-weight: bold;">2022<br/>
</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; font-weight: bold;">2021<br/>
</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom;" valign="bottom">
<div> </div>
</td>
<td colspan="1" style="vertical-align: bottom;" valign="bottom"> </td>
<td colspan="14" style="vertical-align: bottom;" valign="bottom">
<div style="text-align: center; font-style: italic;">in thousands</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; background-color: #CCEEFF;" valign="bottom">
<div>Research and development</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>216</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>91</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>595</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>247</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; padding-bottom: 2px;" valign="bottom">
<div>General and administrative</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div>465</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div>496</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div>1,591</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div>1,175</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 52%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom">
<div style="margin-left: 9pt;">Total stock-based compensation expense</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>681</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>587</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>2,186</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>1,422</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
</table>
216000
91000
595000
247000
465000
496000
1591000
1175000
681000
587000
2186000
1422000
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;">The following table summarizes the stock option activity in the Company’s equity incentive plans, including non-plan grants to Company executives, from December 31,
2021 through September 30, 2022:</div>
<div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div>
<table border="0" cellpadding="0" cellspacing="0" class="cfttable" style="color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left; width: 100%;">
<tr>
<td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">
<div> </div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; font-weight: bold;">Shares</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; font-weight: normal; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; font-weight: normal;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; font-weight: bold;">Weighted Average<br/>
Exercise Price</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom">
<div>Outstanding, December 31, 2021</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>4,895,561</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>3.14</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%;" valign="bottom">
<div style="margin-left: 9pt;">Granted</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>945,000</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>1.84</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom">
<div style="margin-left: 9pt;">Exercised</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">—<br/>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div/>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>—</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
<div style="margin-left: 9pt;">Options forfeited/cancelled</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div>(195,000</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom">
<div>)</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; white-space: nowrap;" valign="bottom">
<div>2.21</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255); padding-bottom: 4px;" valign="bottom">
<div>Outstanding, September 30, 2022</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div>5,645,561</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom">
<div>2.93</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td>
</tr>
</table>
4895561
3.14
945000
1.84
0
0
195000
2.21
5645561
2.93
2735000
2694584
P1Y6M
1.37
945000
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;">The fair value of all other options granted is determined using the Black-Scholes option-pricing model. The following weighted average assumptions were used:</div>
<div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div>
<table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;">
<tr>
<td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">
<div> </div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; font-weight: normal;"><span style="font-weight: bold;">Nine<br/>
Months Ended<br/>
</span> <span style="font-weight: bold;">September 30,</span></div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; font-weight: normal; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; font-weight: normal;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; font-weight: normal;"><span style="font-weight: bold;">Nine<br/>
Months Ended<br/>
</span> <span style="font-weight: bold;">September 30,</span></div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">
<div> </div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; font-weight: normal;"> <span style="font-weight: bold;">2022</span><br/>
</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; font-weight: normal; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; font-weight: normal;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
<div style="text-align: center; font-weight: normal;"><span style="font-weight: bold;">2021</span><br/>
</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom">
<div>Risk-free interest rate</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>1.56</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>%</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>0.58</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>%</div>
</td>
</tr>
<tr>
<td style="vertical-align: top;" valign="bottom">
<div>Expected life of the options</div>
</td>
<td colspan="1" style="vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; white-space: nowrap;" valign="bottom">
<div style="text-align: right;">5.6 years <br/>
</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; white-space: nowrap;" valign="bottom">
<div style="text-align: right;">6 years <br/>
</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom">
<div>Expected volatility of the underlying stock</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>94</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>%</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>91</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>%</div>
</td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%;" valign="bottom">
<div>Expected dividend rate</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>0<br/>
</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">%</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>0</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">%</td>
</tr>
</table>
0.0156
0.0058
P5Y7M6D
P6Y
0.94
0.91
0
0
1
17677
35000
1
16588
35000
0.20
0.80
0.25
0.25
0.50
313000
186647
1.68
200000
103627
1.93
200000
0
<div style="font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">7. Common Stock Warrants</div>
<div style="font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;"> <br/>
</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;">The following table summarizes the common stock warrant activity from December 31, 2020 through September 30, 2022:</div>
<div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div>
<table border="0" cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;">
<tr>
<td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">
<div> </div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="text-align: center; font-weight: bold;">Shares</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="text-align: center; font-weight: bold;">Weighted Average<br/>
Exercise Price</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom">
<div>Outstanding, December 31, 2021</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>10,857,964</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>4.37</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%;" valign="bottom">
<div style="margin-left: 9pt;">Granted</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>500,000</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>5.00</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom">
<div style="margin-left: 9pt;">Exercised</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>—</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>—</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
<div style="margin-left: 9pt;">Forfeited/cancelled</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div>—</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; white-space: nowrap;" valign="bottom">
<div>—</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom">
<div>Outstanding, September 30, 2022</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">
<div>11,357,964</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">
<div>4.40</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
</tr>
</table>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;"> <br/>
</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;">The weighted average expiration of the warrants outstanding as of September 30, 2022 is 2.0 years.</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;">The following table summarizes the common stock warrant activity from December 31, 2020 through September 30, 2022:</div>
<div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div>
<table border="0" cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;">
<tr>
<td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">
<div> </div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="text-align: center; font-weight: bold;">Shares</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="text-align: center; font-weight: bold;">Weighted Average<br/>
Exercise Price</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom">
<div>Outstanding, December 31, 2021</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>10,857,964</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>4.37</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%;" valign="bottom">
<div style="margin-left: 9pt;">Granted</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>500,000</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>5.00</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom">
<div style="margin-left: 9pt;">Exercised</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>—</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>—</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
<div style="margin-left: 9pt;">Forfeited/cancelled</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div>—</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; white-space: nowrap;" valign="bottom">
<div>—</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom">
<div>Outstanding, September 30, 2022</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">
<div>11,357,964</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">
<div>4.40</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
</tr>
</table>
10857964
4.37
500000
5
0
0
0
0
11357964
4.4
P2Y
<div style="font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">8. Loss Per Share</div>
<div style="font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;"> <br/>
</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;">Basic net loss per common share is computed by dividing the net loss available to common stockholders by the weighted average number of common shares outstanding
during the period. Diluted net loss per common share is computed by dividing the net loss available to common stockholders by the weighted average number of common shares and other potential common shares then outstanding. Potential common shares
consist of common shares issuable upon the assumed exercise of in-the-money stock options and warrants and potential common shares related to the conversion of the preferred stock. The computation of diluted net loss per share does not assume the
issuance of common shares that have an anti-dilutive effect on net loss per share. </div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;"> <br/>
</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;">Dilutive shares which could exist pursuant to the exercise of outstanding stock instruments and which were not included in the calculation because their affect would
have been anti-dilutive are as follows:</div>
<div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div>
<table border="0" cellpadding="0" cellspacing="0" class="cfttable" style="color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left; width: 100%;">
<tr>
<td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">
<div> </div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="text-align: center; font-weight: bold;">September 30,</div>
<div style="text-align: center; font-weight: bold;"> 2022<br/>
(shares)</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="text-align: center; font-weight: bold;">September 30,</div>
<div style="text-align: center; font-weight: bold;"> 2021<br/>
(shares)</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom">
<div>Warrants to purchase shares of common stock</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>11,357,964</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>11,357,964</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%;" valign="bottom">
<div>Options to purchase shares of common stock</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>5,645,561</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>4,660,561</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom">
<div>Shares of common stock issuable upon conversion of convertible note payable</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>5,665,338</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>3,271,876</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
<div>Shares of common stock issuable upon conversion of preferred stock</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div>503,340</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div>510,424</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom">
<div> </div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
<div>23,172,203</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
<div>19,800,825</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
</tr>
</table>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;">Dilutive shares which could exist pursuant to the exercise of outstanding stock instruments and which were not included in the calculation because their affect would
have been anti-dilutive are as follows:</div>
<div style="font-family: 'Times New Roman'; font-size: 10pt;"> </div>
<table border="0" cellpadding="0" cellspacing="0" class="cfttable" style="color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left; width: 100%;">
<tr>
<td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">
<div> </div>
</td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="text-align: center; font-weight: bold;">September 30,</div>
<div style="text-align: center; font-weight: bold;"> 2022<br/>
(shares)</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom">
<div style="text-align: center; font-weight: bold;">September 30,</div>
<div style="text-align: center; font-weight: bold;"> 2021<br/>
(shares)</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom">
<div>Warrants to purchase shares of common stock</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>11,357,964</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>11,357,964</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%;" valign="bottom">
<div>Options to purchase shares of common stock</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>5,645,561</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>4,660,561</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom">
<div>Shares of common stock issuable upon conversion of convertible note payable</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>5,665,338</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom">
<div>3,271,876</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
<div>Shares of common stock issuable upon conversion of preferred stock</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div>503,340</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div>510,424</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom">
<div> </div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
<div>23,172,203</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
<div>19,800,825</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
</tr>
</table>
11357964
11357964
5645561
4660561
5665338
3271876
503340
510424
23172203
19800825
<div style="font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">9. Common Stock</div>
<div style="font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;"> <br/>
</div>
<div style="font-style: italic; margin-left: 27pt; font-family: 'Times New Roman'; font-size: 10pt;">2020 At Market Issuance of Common Stock</div>
<div style="font-style: italic; font-family: 'Times New Roman'; font-size: 10pt;"> <br/>
</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;">On May 11, 2020, the Company entered into an At Market Issuance Sales Agreement (the “2020 At Market Agreement”) with a sales agent under which the Company may issue
and sell shares of its common stock having an aggregate offering price of up to $40.0 million from time to time through the sales
agent. Sales of the Company’s common stock through the sales agent, if any, will be made by any method that is deemed an “at the market” offering as defined by the U.S. Securities and Exchange Commission. The Company will pay to the sales agent a
commission rate equal to 3.0% of the gross proceeds from the sale of any shares of common stock sold through the sales agent under the
2020 At Market Agreement. There were no issuances of <span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; text-align: left; text-indent: 32.6667px; text-transform: none; white-space: normal; word-spacing: 0px; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none;">common stock under the 2020 At Market agreement during the nine months ended September 30, 2022. During the nine months ended September
30, 2021, the Company issued 845,214</span> shares of common stock under the 2020 At Market Agreement for net proceeds of $3,864,000.</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;"> <br/>
</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;">For the nine months ended September 30, 2022 and 2021, the Company issued a total of 60,825 and 57,162 shares of common stock, respectively, for dividends on
Series A and Series C Preferred Stock.</div>
40000000
0.03
0
845214
3864000
60825
57162
<div style="font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">10. Commitments and Contingencies</div>
<div style="font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;"> <br/>
</div>
<div style="font-style: italic; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">Other Legal Proceedings</div>
<div style="font-style: italic; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;"> <br/>
</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;">The Company records accruals for such contingencies to the extent that the Company concludes that their occurrence is probable and the related damages are estimable.
There are no significant pending legal proceedings.</div>
<div style="font-family: 'Times New Roman'; font-size: 10pt;"> <br/>
</div>
<div style="font-style: italic; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">Clinical Trial and Research Commitments</div>
<div style="font-style: italic; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;"> <br/>
</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;">The Company has entered into agreements with contractors for research and development activities to further its product candidates. The contracts generally may be
canceled at any time by providing thirty days’ notice.</div>
P30D
<div><br/>
</div>
<div style="font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">11. Leases</div>
<div style="font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;"> <br/>
</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;">The Company has one operating lease for its office
space which was amended effective March 1, 2022 for a term of 38 months with no residual value guarantees or material restrictive
covenants. The amended lease provided for free rent for the first <span style="-sec-ix-hidden:Fact_4a40990569be4e70851409b834f978ac">six and a half months</span> of the lease and continues the security
deposit of $6,000. In addition to base rental payments included in the contractual obligations table above, the Company is responsible
for our pro-rata share of the operating expenses for the building. Our lease cost for the nine-month periods ended <span style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">September</span> 30, 2022 and 2021 was approximately $32,000 for each period and is included in general and administrative expenses. As of <span style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">September</span> 30, 2022, the right to use lease asset consisted of $93,000 and is included in <span style="-sec-ix-hidden:Fact_7ae59de6716d477d8736a4593a295ded">other assets</span>. Also, at <span style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">September</span> 30, 2022, current lease liability
of $39,000 is included in <span style="-sec-ix-hidden:Fact_365c802a071d40eca698752b6a6ee618">accrued expenses</span> and long term lease liability was $77,000 and included in <span style="-sec-ix-hidden:Fact_f8911f00c42748c4b5c3f5d68a553e0b">other liabilities</span>.<br/>
</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt;"> <br/>
</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 27pt;"><span style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">Maturity of operating lease as of September 30, 2022 in thousands:</span></div>
<div style="margin-left: 9pt;"> <br/>
</div>
<div style="margin-left: 9pt;"> <br/>
</div>
<table border="0" cellpadding="0" cellspacing="0" class="cfttable" style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; text-align: left; width: 100%;">
<tr>
<td style="vertical-align: top; width: 88%; background-color: rgb(204, 238, 255);" valign="bottom">
<div>2022</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">
<div>12</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 88%;" valign="bottom">
<div>2023</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>50</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td rowspan="1" style="vertical-align: top; width: 88%; background-color: rgb(204, 238, 255);" valign="bottom">2024</td>
<td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">51</td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td rowspan="1" style="vertical-align: top; width: 88%; padding-bottom: 2px;" valign="bottom">2025</td>
<td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">18</td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 88%; background-color: rgb(204, 238, 255);" valign="bottom">
<div>Total</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">
<div>131</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 88%; padding-bottom: 2px;" valign="bottom">
<div>Less imputed interest</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div>15</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 88%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom">
<div>Present value of lease liability</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">
<div>116</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
</tr>
</table>
<div style="display:none;"><br/></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt; text-indent: 24.5pt;"> <br/>
</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 18pt;"><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The
discount rate used in calculating the present value of the lease payments was 11%</span>. </div>
1
P38M
6000
32000
32000
93000
39000
77000
<div style="display:none;"><br/></div>
<div style="text-indent: 27pt;"><span style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">Maturity of operating lease as of September 30, 2022 in thousands:</span></div>
<div style="margin-left: 9pt;"> <br/>
</div>
<div style="margin-left: 9pt;"> <br/>
</div>
<table border="0" cellpadding="0" cellspacing="0" class="cfttable" style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; text-align: left; width: 100%;">
<tr>
<td style="vertical-align: top; width: 88%; background-color: rgb(204, 238, 255);" valign="bottom">
<div>2022</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">
<div>12</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 88%;" valign="bottom">
<div>2023</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; white-space: nowrap;" valign="bottom">
<div>50</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td rowspan="1" style="vertical-align: top; width: 88%; background-color: rgb(204, 238, 255);" valign="bottom">2024</td>
<td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">51</td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td rowspan="1" style="vertical-align: top; width: 88%; padding-bottom: 2px;" valign="bottom">2025</td>
<td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">18</td>
<td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 88%; background-color: rgb(204, 238, 255);" valign="bottom">
<div>Total</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">
<div>131</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 88%; padding-bottom: 2px;" valign="bottom">
<div>Less imputed interest</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); white-space: nowrap;" valign="bottom">
<div>15</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td>
</tr>
<tr>
<td style="vertical-align: top; width: 88%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom">
<div>Present value of lease liability</div>
</td>
<td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">
<div>$</div>
</td>
<td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom">
<div>116</div>
</td>
<td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td>
</tr>
</table>
12000
50000
51000
18000
131000
15000
116000
0.11
<div style="font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">12. Galectin Sciences LLC</div>
<div style="font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;"> <br/>
</div>
<div style="display:none;"><br/></div>
<div style="text-indent: 24.5pt; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">In January 2014, we created Galectin Sciences, LLC (the “LLC” or “Investee”), a collaborative joint venture co-owned by SBH Sciences, Inc. (“SBH”),
to research and develop small organic molecule inhibitors of galectin-3 for oral administration. The LLC was initially capitalized with a $400,000
cash investment to fund future research and development activities, which was provided by the Company, and specific in-process research and development (“IPR&D”) contributed by SBH. The estimated fair value of the IPR&D contributed by
SBH, on the date of contribution, was $400,000. Initially, the Company and SBH each had a 50% equity ownership interest in the LLC, with neither party having control over the LLC. Accordingly, from inception through the fourth quarter of 2014, the Company
accounted for its investment in the LLC using the equity method of accounting. Under the equity method of accounting, the Company’s investment was initially recorded at cost with subsequent adjustments to the carrying value to recognize
additional investments in or distributions from the Investee, as well as the Company’s share of the Investee’s earnings, losses and/or changes in capital. The estimated fair value of the IPR&D contributed to the LLC was immediately expensed
upon contribution as there was no alternative future use available at the point of contribution. The operating agreement provides that if either party does not desire to contribute its equal share of funding required after the initial
capitalization, then the other party, providing all of the funding, will have its ownership share increased in proportion to the total amount contributed from inception. In the fourth quarter of 2014, after the LLC had expended the $400,000 in cash, SBH decided not to contribute its share of the funding required. Cumulatively, the Company has contributed a total of $3,204,000, including $180,000 for the
nine months ended <span style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">September</span> 30, 2022, for expenses of the LLC. Since the end of 2014, SBH has contributed $158,000 for expenses in the LLC. As of <span style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">September</span> 30, 2022, the Company’s ownership
percentage in the LLC was 85.2%. The Company accounts for the interest in the LLC as a consolidated, less than wholly owned
subsidiary. Because the LLC’s equity is immaterial, the value of the non-controlling interest is also deemed to be immaterial.</div>
400000
400000
0.50
400000
3204000
180000
158000
0.852