Research firm Phinance Technologies, founded and operated by former Blackrock portfolio manager Ed Dowd, Yuri Nunes (PhD Physics, MSc Mathematics) and Carlos Alegria (PhD Physics, Finance), split the impact of the vaccines into four broad categories to estimate the human costs associated with the Covid-19 vaccine; no effect or asymptomatic, those who sustained injuries (mild-to-moderate outcome), those who became disabled (severe outcome), and death (extreme outcome). Data on vaccine disabilities and injuries comes directly from the Bureau of Labor Statistics (BLS), while the excess death figures are derived from official figures on deaths in the US via two different methods (methodology here).

It's important to note that people in one category (injured, for example) can move into latter categories of severity - which this analysis does not take into consideration.

"We need to remember that not only are these groupings an attempt to characterize different levels of damage from the inoculations, they are not static and could interact with each other," reads the report. "For instance, there might be individuals who had no visible effects after vaccination but nonetheless could still be impacted."

"Individuals with mild injuries from the inoculations could, over time, develop severe injuries to the extent of being disabled, or an extreme outcome such as death."