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, 2023
Mar. 31, 2022
Cash flows from Operating Activities    
Net loss $ (334,000) $ (301,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Fair value of options and warrants issued as compensation 9,000 24,000
Amortization of debt discount 40,000 36,000
Accrued interest expense 42,000 29,000
Depreciation and amortization 1,000 1,000
Gain on partial forgiveness of PPP note payable 0 (24,000)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 7,000 4,000
Decrease in operating lease right of use asset 0 7,000
Accounts payable and accrued expenses 30,000 95,000
Accounts payable – license agreements 59,000 59,000
Operating lease liabilities 0 (7,000)
Net cash used in operating activities (146,000) (77,000)
Cash flows from financing activities    
Net proceeds from exercise of warrants 39,000 25,000
Net proceeds from issuance of convertible notes and warrants 90,000 0
Principal payment on PPP loan payable (9,000) 0
Net cash provided by financing activities 120,000 25,000
Net decrease in cash (26,000) (52,000)
Cash, beginning of period 133,000 114,000
Cash, end of period 107,000 62,000
Cash paid during the year for:    
Interest 0 0
Income Taxes 0 0
Non-cash investing and financing activities    
Conversion of convertible debentures to common stock 144,000 11,000
Value of warrants issued with convertible notes $ 47,000 $ 0