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, 2024
Mar. 31, 2023
Cash flows from Operating Activities    
Net loss $ (449,000) $ (334,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Fair value of warrants issued as compensation 5,000 9,000
Fair value of common stock issued for services 140,000 0
Amortization of debt discount 15,000 40,000
Accrued interest expense 49,000 42,000
Depreciation and amortization 1,000 1,000
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 1,000 7,000
Accounts payable and accrued expenses 10,000 30,000
Accounts payable – license agreements 58,000 59,000
Net cash used in operating activities (170,000) (146,000)
Cash flows from financing activities    
Net proceeds from exercise of warrants 4,000 39,000
Net proceeds from issuance of convertible notes and warrants 181,000 90,000
Principal payment on PPP loan payable (7,000) (9,000)
Net cash provided by financing activities 178,000 120,000
Net increase in cash 8,000 (26,000)
Cash, beginning of period 70,000 133,000
Cash, end of period 78,000 107,000
Cash paid during the year for:    
Interest 0 0
Income Taxes 0 0
Non-cash investing and financing activities    
Conversion of convertible notes to common stock 77,000 144,000
Relative fair value of warrants issued with convertible notes $ 85,000 $ 47,000