Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities    
Net Loss $ (766,000) $ (2,282,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock based compensation expense 121,000 99,000
Amortization of debt discount and of interest expense 152,000 1,632,000
Depreciation and amortization 2,000 1,000
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 41,000 (457,000)
Accounts payable and accrued expenses 92,000 (100,000)
Accounts payable - license agreements 59,000 68,000
Accounts payable and accrued expenses - related parties (2,000) (30,000)
Net cash used in operating activities (301,000) (1,069,000)
Cash flows from financing activities    
Net proceeds from issuance of convertible notes and warrants 35,000 668,000
Net proceeds from exercise of warrants and options 61,000 172,000
Net cash provided by financing activities 96,000 840,000
Net increase (decrease) in cash (205,000) (229,000)
Cash, beginning of period 479,000 1,153,000
Cash, end of period 274,000 924,000
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 219,000 1,836,000
Fair value of warrants and beneficial conversion feature associated with issued convertible notes $ 35,000 $ 668,000