Financials

v3.7.0.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Mar. 31, 2017
Dec. 31, 2016
Current assets:    
Cash $ 147,000 $ 136,000
Prepaid expenses and other current assets 37,000 26,000
Total current assets 184,000 162,000
Property and equipment, net of accumulated depreciation of $34,000 and $32,000 at March 31, 2017 and December 31, 2016, respectively 34,000 17,000
Other assets 1,000 7,000
Total assets 219,000 186,000
Current liabilities:    
Accounts payable-license agreements 871,000 805,000
Accounts payable and accrued expenses 392,000 251,000
Accrued expenses and accounts payable-related parties 797,000 135,000
Deposits and other current liabilities 25,000 5,000
Convertible debentures, net of discounts of $135,000 and $92,000 at March 31, 2017 and December 31, 2016, respectively 420,000 348,000
Total current liabilities 2,505,000 1,544,000
Stockholders' deficit    
Common stock, $.001 par value: 300,000,000 shares authorized, 201,436,426 and 199,045,026 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively 201,436 199,045
Additional paid-in capital 104,270,564 103,716,955
Accumulated deficit (106,758,000) (105,274,000)
Total stockholders' deficit (2,286,000) (1,358,000)
Total liabilities and stockholders' deficit $ 219,000 $ 186,000
v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Income Statement [Abstract]    
Revenues $ 50,000 $ 0
Costs and Expenses    
Operating expenses 1,258,000 635,000
Research and development expenses 64,000 75,000
Loss before other income (expense) (1,272,000) (710,000)
Other income (expense)    
Interest and financing expense (212,000) (494,000)
Loss on disposition of equipment 0 (3,000)
Net loss $ (1,484,000) $ (1,207,000)
Net loss per common share, basic and diluted $ (.01) $ (.01)
Weighted average common shares outstanding, basic and diluted 199,260,966 185,222,083
v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities    
Net Loss $ (1,484,000) $ (1,207,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock based compensation expense 235,000 127,000
Amortization of debt discount 0 16,000
Accrued interest on convertible notes 192,000 493,000
Loss on disposition of assets 0 3,000
Depreciation and amortization 2,000 3,000
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (5,000) (4,000)
Accounts payable and accrued expenses 141,000 20,000
Accounts payable - license agreements 66,000 47,000
Accounts payable and accrued expenses - related parties 662,000 (16,000)
Deposits and other current liabiilities 20,000 0
Net cash used in operating activities (171,000) (518,000)
Cash flows from investing activities    
Purchase of equipment (19,000) 0
Net cash used in investing activities (19,000) 0
Cash flows from financing activities    
Net proceeds from issuance of convertible notes and warrants 201,000 762,000
Net cash provided by financing activities 201,000 762,000
Net increase in cash 11,000 244,000
Cash, beginning of period 136,000 349,000
Cash, end of period 147,000 593,000
Supplemental disclosures of cash flow information    
Cash paid during the year for: Interest 0 0
Cash paid during the year for: Income taxes 0 0
Non-cash investing and financing activities    
Conversion of convertible debentures to common stock 120,000 479,000
Fair value of warrants and beneficial conversion feature associated with issued convertible notes $ 201,000 $ 762,000