Financials

v3.10.0.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Jun. 30, 2018
Dec. 31, 2017
Current assets:    
Cash $ 493,000 $ 204,000
Prepaid expenses and other current assets 32,000 38,000
Total current assets 525,000 242,000
Property and equipment, net of accumulated depreciation of $68,000 and $51,000 at June 30, 2018 and December 31, 2017, respectively 29,000 46,000
Other assets 2,000 2,000
Total assets 556,000 290,000
Current liabilities:    
Accounts payable-license agreements 974,000 852,000
Accounts payable and accrued expenses 735,000 748,000
Accrued expenses and accounts payable-related parties 43,000 31,000
Convertible debentures, net of discounts of $47,000 and $47,000 at June 30, 2018 and December 31, 2017, respectively 576,000 533,000
Total current liabilities 2,328,000 2,164,000
Stockholders' deficit    
Common stock, $.001 par value: 500,000,000 shares authorized, 251,448,515 and 234,076,907 shares issued and outstanding at June 30, 2018 and December 31, 2017, respectively 251,448 234,077
Additional paid-in capital 109,543,552 108,000,923
Accumulated deficit (111,567,000) (110,109,000)
Total stockholders' deficit (1,772,000) (1,874,000)
Total liabilities and stockholders' deficit $ 556,000 $ 290,000
v3.10.0.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Income Statement [Abstract]        
Revenues $ 0 $ 0 $ 0 $ 50,000
Costs and Expenses        
Operating expenses 462,000 580,000 956,000 1,838,000
Research and development expenses 48,000 56,000 95,000 120,000
Loss before other expense (510,000) (636,000) (1,051,000) (1,908,000)
Other expense        
Interest and financing expense (248,000) (1,210,000) (407,000) (1,422,000)
Net loss $ (758,000) $ (1,846,000) $ (1,458,000) $ (3,330,000)
Net loss per common share, basic and diluted $ (0.00) $ (0.01) $ (0.01) $ (0.02)
Weighted average common shares outstanding, basic and diluted 242,994,163 207,419,243 238,825,606 203,362,641
v3.10.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities    
Net Loss $ (1,458,000) $ (3,330,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock based compensation expense 245,000 535,000
Issuance of common stock for services 12,000 0
Amortization of debt discount and accrued interest 381,000 1,402,000
Depreciation and amortization 17,000 4,000
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 6,000 (8,000)
Accounts payable and accrued expenses (13,000) 640,000
Accounts payable - license agreements 122,000 113,000
Accounts payable and accrued expenses - related parties 12,000 (116,000)
Deposits and other current liabiilities 0 (5,000)
Net cash used in operating activities (676,000) (765,000)
Cash flows from investing activities    
Purchase of equipment 0 (21,000)
Net cash used in investing activities 0 (21,000)
Cash flows from financing activities    
Net proceeds from issuance of convertible notes and warrants 318,000 1,469,000
Net proceeds from exercise of warrants 647,000 61,000
Net cash provided by financing activities 965,000 1,530,000
Net increase (decrease) in cash 289,000 744,000
Cash, beginning of period 204,000 136,000
Cash, end of period 493,000 880,000
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 337,000 1,247,000
Fair value of warrants and beneficial conversion feature associated with issued convertible notes $ 319,000 $ 1,469,000