Financials

v3.20.2
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Jun. 30, 2020
Dec. 31, 2019
Current assets:    
Cash $ 116,000 $ 479,000
Prepaid expenses and other current assets 148,000 96,000
Total current assets 264,000 575,000
Property and equipment, net of accumulated depreciation of $84,000 and $80,000 at June 30, 2020 and December 31, 2019, respectively 20,000 23,000
Other assets 2,000 2,000
Total assets 286,000 600,000
Current liabilities:    
Accounts payable-license agreements 1,373,000 1,255,000
Accounts payable and accrued expenses 685,000 557,000
Accrued expenses and accounts payable-related parties 6,000 7,000
Convertible debentures, net of discounts of $68,000 and $153,000 at June 30, 2020 and December 31, 2019, respectively 1,086,000 1,050,000
Other notes payable 151,000 0
Total current liabilities 3,301,000 2,869,000
Stockholders' deficit    
Common stock, $.001 par value: 500,000,000 shares authorized, 319,421,243 and 310,111,536 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively 319,422 310,111
Additional paid-in capital 117,061,578 116,209,889
Accumulated deficit (120,396,000) (118,789,000)
Total stockholders' deficit (3,015,000) (2,269,000)
Total liabilities and stockholders' deficit $ 286,000 $ 600,000
v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Income Statement [Abstract]        
Revenues $ 0 $ 0 $ 0 $ 0
Costs and Expenses        
Operating expenses 413,000 655,000 945,000 1,133,000
Research and development expenses 157,000 432,000 227,000 583,000
Loss before other expense (570,000) (1,087,000) (1,172,000) (1,716,000)
Other expense        
Interest and financing expense (271,000) (371,000) (435,000) (2,024,000)
Net loss $ (841,000) $ (1,458,000) $ (1,607,000) $ (3,740,000)
Net loss per common share, basic and diluted $ (0.00) $ (0.00) $ (0.01) $ (0.01)
Weighted average common shares outstanding, basic and diluted 314,950,397 293,284,367 313,007,039 279,658,273
v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities    
Net Loss $ (1,607,000) $ (3,740,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock based compensation expense 213,000 194,000
Issuance of common stock for services 0 68,000
Amortization of debt discount 318,000 1,961,000
Accrued interest expense 93,000 30,000
Depreciation and amortization 3,000 3,000
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (52,000) (205,000)
Accounts payable and accrued expenses 128,000 (153,000)
Accounts payable - license agreements 118,000 64,000
Accounts payable and accrued expenses - related parties (1,000) (55,000)
Deposits and other current liabilities 0 0
Net cash used in operating activities (787,000) (1,833,000)
Cash flows from financing activities    
Net proceeds from issuance of convertible notes and warrants 212,000 1,118,000
Net proceeds from exercise of warrants 61,000 273,000
Net proceeds from other notes 151,000 0
Net cash provided by financing activities 424,000 1,391,000
Net decrease in cash (363,000) (442,000)
Cash, beginning of period 479,000 1,153,000
Cash, end of period 116,000 711,000
Supplemental disclosures of cash flow information    
Cash paid during the year for: Interest 0 0
Cash paid during the year for: Income taxes 0 1,600
Non-cash investing and financing activities    
Conversion of convertible debentures and accrued interest to common stock 375,000 2,045,000
Fair value of warrants and beneficial conversion feature associated with issued convertible notes $ 212,000 $ 1,118,000