Financials

v3.19.1
CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Current assets:    
Cash $ 1,153,000 $ 204,000
Prepaid expenses and other current assets 34,000 38,000
Total current assets 1,187,000 242,000
Property and equipment, net of accumulated depreciation of $73,000 and $51,000 at December 31, 2018 and 2017, respectively 24,000 46,000
Other assets 2,000 2,000
Total assets 1,213,000 290,000
Current liabilities:    
Accounts payable-license agreements 1,073,000 852,000
Accounts payable and accrued expenses 658,000 748,000
Accrued expenses 55,000 31,000
Convertible debentures, net of discounts of $1,100,000 and $47,000 at December 31, 2018 and 2017, respectively 909,000 533,000
Total current liabilities 2,695,000 2,164,000
Commitments and contingencies
Stockholders' deficit    
Common stock, $0.001 par value: 500,000,000 shares authorized, 256,123,515 and 234,076,907 shares issued and outstanding at December 31, 2018 and 2017, respectively 256,123 234,077
Additional paid-in capital 111,429,877 108,000,923
Accumulated deficit (113,168,000) (110,109,000)
Total stockholders' deficit (1,482,000) (1,874,000)
Total liabilities and stockholders' deficit $ 1,213,000 $ 290,000
v3.19.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Income Statement [Abstract]    
Revenues $ 0 $ 50,000
Costs and Expenses    
Operating expenses 1,853,000 2,938,000
Research and development expenses 208,000 243,000
Loss before other income (expense) (2,061,000) (3,131,000)
Interest and financing expense (998,000) (1,704,000)
Net loss $ (3,059,000) $ (4,835,000)
Net loss per common share, basic and diluted $ (0.01) $ (0.02)
Weighted average common shares outstanding, basic and diluted 246,255,784 217,790,405
v3.19.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities    
Net Loss $ (3,059,000) $ (4,835,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock based compensation expense 435,000 888,000
Issuance of common stock for services 12,000 0
Amortization of debt discount and accrual of interest 955,000 1,713,000
Depreciation and amortization 22,000 19,000
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 4,000 (6,000)
Accounts payable and accrued expenses (90,000) 497,000
Accounts payable - license agreements 221,000 47,000
Accounts payable and accrued expenses - related parties 24,000 (104,000)
Deposits and other current liabiilities 0 (5,000)
Net cash used in operating activities (1,476,000) (1,786,000)
Cash flows from investing activities    
Purchase of equipment 0 (49,000)
Net cash used in investing activities 0 (49,000)
Cash flows from financing activities    
Net proceeds from private sale of restricted common stock 0 38,000
Net proceeds from issuance of convertible notes and warrants 1,778,000 1,469,000
Net proceeds from exercise of warrants and options 647,000 396,000
Net cash provided by financing activities 2,425,000 1,903,000
Net increase in cash 949,000 68,000
Cash, beginning of period 204,000 136,000
Cash, end of period 1,153,000 204,000
Supplemental disclosures of cash flow information    
Cash paid during the year for: Interest 0 0
Cash paid during the year for: Income taxes 1,600 1,600
Non-cash investing and financing activities    
Conversion of convertible debentures to common stock 579,000 1,528,000
Deposit exchanged to convertible note payable 0 0
Fair value of warrants and beneficial conversion feature associated with issued convertible notes $ 1,778,000 $ 1,469,000