Financials

v3.19.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Mar. 31, 2019
Dec. 31, 2018
Current assets:    
Cash $ 924,000 $ 1,153,000
Prepaid expenses and other current assets 490,000 34,000
Total current assets 1,414,000 1,187,000
Property and equipment, net of accumulated depreciation of $74,000 and $73,000 at March 31, 2019 and December 31, 2018, respectively 23,000 24,000
Other assets 2,000 2,000
Total assets 1,439,000 1,213,000
Current liabilities:    
Accounts payable-license agreements 1,141,000 1,073,000
Accounts payable and accrued expenses 558,000 658,000
Accrued expenses and accounts payable-related parties 25,000 55,000
Convertible debentures, net of discounts of $221,000 and $1,100,000 at March 31, 2019 and December 31, 2018, respectively 704,000 909,000
Total current liabilities 2,428,000 2,695,000
Commitments and contingencies
Stockholders' deficit    
Common stock, $.001 par value: 500,000,000 shares authorized, 294,805,488 and 256,123,515 shares issued and outstanding at March 31, 2019 and December 31, 2018, respectively 294,805 256,123
Additional paid-in capital 114,166,195 111,429,877
Accumulated deficit (115,450,000) (113,168,000)
Total stockholders' deficit (989,000) (1,482,000)
Total liabilities and stockholders' deficit $ 1,439,000 $ 1,213,000
v3.19.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Income Statement [Abstract]    
Revenues $ 0 $ 0
Costs and Expenses    
Operating expenses 478,000 494,000
Research and development expenses 151,000 47,000
Loss before other expenses (629,000) (541,000)
Other income (expenses)    
Interest and financing expense (1,653,000) (159,000)
Net loss $ (2,282,000) $ (700,000)
Net loss per common share, basic and diluted $ (0.01) $ (0.00)
Weighted average common shares outstanding, basic and diluted 265,880,777 234,610,752
v3.19.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities    
Net Loss $ (2,282,000) $ (700,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock based compensation expense 99,000 143,000
Issuance of common stock for services 0 12,000
Amortization of debt discount and accrual of interest 1,632,000 143,000
Depreciation and amortization 1,000 8,000
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (457,000) 15,000
Accounts payable and accrued expenses (100,000) 15,000
Accounts payable - license agreements 68,000 63,000
Accounts payable and accrued expenses - related parties (30,000) 6,000
Net cash used in operating activities (1,069,000) (295,000)
Cash flows from investing activities    
Net cash used in investing activities 0 0
Cash flows from financing activities    
Net proceeds from issuance of convertible notes and warrants 668,000 245,000
Net proceeds from exercise of warrants 172,000 71,000
Net cash provided by financing activities 840,000 316,000
Net increase (decrease) in cash (229,000) 21,000
Cash, beginning of period 1,153,000 204,000
Cash, end of period 924,000 225,000
Supplemental disclosures of cash flow information    
Cash paid during the year for: Interest 0 0
Cash paid during the year for: Income taxes 0 0
Non-cash investing and financing activities    
Conversion of convertible debentures to common stock 1,836,000 99,000
Fair value of warrants and beneficial conversion feature associated with issued convertible notes $ 668,000 $ 245,000