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 ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities    
Net Loss $ (1,607,000) $ (3,740,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock based compensation expense 213,000 194,000
Issuance of common stock for services 0 68,000
Amortization of debt discount 318,000 1,961,000
Accrued interest expense 93,000 30,000
Depreciation and amortization 3,000 3,000
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (52,000) (205,000)
Accounts payable and accrued expenses 128,000 (153,000)
Accounts payable - license agreements 118,000 64,000
Accounts payable and accrued expenses - related parties (1,000) (55,000)
Deposits and other current liabilities 0 0
Net cash used in operating activities (787,000) (1,833,000)
Cash flows from financing activities    
Net proceeds from issuance of convertible notes and warrants 212,000 1,118,000
Net proceeds from exercise of warrants 61,000 273,000
Net proceeds from other notes 151,000 0
Net cash provided by financing activities 424,000 1,391,000
Net decrease in cash (363,000) (442,000)
Cash, beginning of period 479,000 1,153,000
Cash, end of period 116,000 711,000
Supplemental disclosures of cash flow information    
Cash paid during the year for: Interest 0 0
Cash paid during the year for: Income taxes 0 1,600
Non-cash investing and financing activities    
Conversion of convertible debentures and accrued interest to common stock 375,000 2,045,000
Fair value of warrants and beneficial conversion feature associated with issued convertible notes $ 212,000 $ 1,118,000