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, 2024
Jun. 30, 2023
Cash flows from Operating Activities    
Net loss $ (782,000) $ (618,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Fair value of warrants issued as compensation 9,000 14,000
Fair value of common stock issued for services 140,000 0
Amortization of debt discount 30,000 65,000
Accrued interest expense 106,000 84,000
Depreciation and amortization 1,000 2,000
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 0 16,000
Accounts payable and accrued expenses 60,000 15,000
Accounts payable – license agreements 117,000 118,000
Operating lease liabilities 0 0
Net cash used in operating activities (319,000) (304,000)
Cash flows from investing activities    
Purchase of property and equipment 0 0
Net cash used in investing activities 0 0
Cash flows from financing activities    
Net proceeds from exercise of warrants 18,000 42,000
Net proceeds from issuance of convertible notes and warrants 382,000 210,000
Principal payment on PPP loan payable (19,000) (9,000)
Net cash provided by financing activities 381,000 243,000
Net increase (decrease) in cash 62,000 (61,000)
Cash, beginning of period 70,000 133,000
Cash, end of period 132,000 72,000
Cash paid during the year for:    
Interest 0 0
Income Taxes 0 1,600
Non-cash investing and financing activities    
Conversion of convertible debentures to common stock 127,000 170,000
Relative fair value of warrants issued with convertible notes $ 190,000 $ 103,000