Financials

v3.24.1.u1
CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash $ 70,000 $ 133,000
Prepaid expenses and other current assets 12,000 19,000
Total current assets 82,000 152,000
Property and equipment, net 2,000 6,000
Total assets 84,000 158,000
Current liabilities:    
Accounts payable-license agreements-past due 2,198,000 1,962,000
Accounts payable and accrued expenses 972,000 946,000
Convertible notes payable, net of discounts of $25,000 and $140,000, respectively: including $2,022,000 and $1,730,000, respectively, in default 2,101,000 1,865,000
PPP Loan payable 57,000 75,000
Total current liabilities 5,328,000 4,848,000
Total liabilities 5,328,000 4,848,000
Commitments and contingencies
Stockholders’ deficit    
Common stock, $0.001 par value: 500,000,000 shares authorized, 392,586,471 and 376,074,096 shares issued and outstanding at December 31, 2023 and 2022, respectively 392,587 376,075
Additional paid-in capital 119,729,413 119,075,925
Accumulated deficit (125,366,000) (124,142,000)
Total stockholders’ deficit (5,244,000) (4,690,000)
Total liabilities and stockholders’ deficit $ 84,000 $ 158,000
v3.24.1.u1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Income Statement [Abstract]    
Revenues $ 0 $ 0
Operating expenses 688,000 765,000
Research and development expenses 203,000 486,000
Loss from operations (891,000) (1,251,000)
PPP loan debt forgiveness 0 63,000
Interest and financing expense (333,000) (360,000)
Net Loss $ (1,224,000) $ (1,548,000)
Net loss per common share, basic $ (0.00) $ (0.00)
Net loss per common share, diluted $ (0.00) $ (0.00)
Weighted average common shares outstanding, basic 385,561,786 361,790,243
Weighted average common shares outstanding, diluted 385,561,786 361,790,243
v3.24.1.u1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from Operating Activities    
Net loss $ (1,224,000) $ (1,548,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Fair value of warrants issued as compensation 37,000 127,000
Amortization of debt discount 103,000 149,000
Accrued interest expense 182,000 162,000
Depreciation 4,000 4,000
Gain on partial forgiveness of PPP note payable 0 (63,000)
Changes in operating assets and liabilities:    
Operating lease right of use asset 0 143,000
Prepaid expenses and other current assets 7,000 (5,000)
Accounts payable and accrued expenses 26,000 16,000
Accounts payable – license agreements 236,000 236,000
Operating lease liabilities 0 (144,000)
Net cash used in operating activities (629,000) (923,000)
Cash flows from investing activities    
Purchase of property and equipment 0 (1,000)
Net cash used in investing activities 0 (1,000)
Cash flows from financing activities    
Net proceeds from issuance of convertible notes and warrants 532,000 393,000
Net proceeds from exercise of warrants and options 52,000 562,000
Principal payment on PPP loan payable (18,000) (12,000)
Net cash provided by financing activities 566,000 943,000
Net increase (decrease) in cash (63,000) 19,000
Cash, beginning of period 133,000 114,000
Cash, end of period 70,000 133,000
Cash paid during the year for:    
Interest 0 0
Income Taxes 1,600 1,600
Non-cash investing and financing activities    
Conversion of convertible notes to common stock, net 350,000 59,000
Relative fair value of warrants associated with issued convertible notes $ 231,000 $ 283,000