Financials

v3.19.2
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Jun. 30, 2019
Dec. 31, 2018
Current assets:    
Cash $ 711,000 $ 1,153,000
Prepaid expenses and other current assets 239,000 34,000
Total current assets 950,000 1,187,000
Property and equipment, net of accumulated depreciation of $76,000 and $73,000 at June 30, 2019 and December 31, 2018, respectively 21,000 24,000
Other assets 2,000 2,000
Total assets 973,000 1,213,000
Current liabilities:    
Accounts payable-license agreements 1,137,000 1,073,000
Accounts payable and accrued expenses 505,000 658,000
Accrued expenses and accounts payable-related parties 0 55,000
Convertible debentures, net of discounts of $369,000 and $1,100,000 at June 30, 2019 and December 31, 2018, respectively 855,000 909,000
Total current liabilities 2,497,000 2,695,000
Commitments and contingencies
Stockholders' deficit    
Common stock, $.001 par value: 500,000,000 shares authorized, 298,457,191 and 256,123,515 shares issued and outstanding at June 30, 2019 and December 31, 2018, respectively 298,456 256,123
Additional paid-in capital 115,085,544 111,429,877
Accumulated deficit (116,908,000) (113,168,000)
Total stockholders' deficit (1,524,000) (1,482,000)
Total liabilities and stockholders' deficit $ 973,000 $ 1,213,000
v3.19.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Income Statement [Abstract]        
Revenues $ 0 $ 0 $ 0 $ 0
Costs and Expenses        
Operating expenses 655,000 462,000 1,133,000 956,000
Research and development expenses 432,000 48,000 583,000 95,000
Loss before other expenses (1,087,000) (510,000) (1,716,000) (1,051,000)
Other expense        
Interest and financing expense (371,000) (248,000) (2,024,000) (407,000)
Net loss $ (1,458,000) $ (758,000) $ (3,740,000) $ (1,458,000)
Net loss per common share, basic and diluted $ (0.00) $ 0.00 $ (0.01) $ (0.01)
Weighted average common shares outstanding, basic and diluted 293,284,367 242,994,163 279,658,273 238,825,606
v3.19.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities    
Net Loss $ (3,740,000) $ (1,458,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock based compensation expense 194,000 245,000
Issuance of common stock for services 68,000 12,000
Amortization of debt discount and of interest expense 1,991,000 381,000
Depreciation and amortization 3,000 17,000
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (205,000) 6,000
Accounts payable and accrued expenses (153,000) (13,000)
Accounts payable - license agreements 64,000 122,000
Accounts payable and accrued expenses - related parties (55,000) 12,000
Deposits and other current liabilities 0 0
Net cash used in operating activities (1,833,000) (676,000)
Cash flows from financing activities    
Net proceeds from issuance of convertible notes and warrants 1,118,000 318,000
Net proceeds from exercise of warrants 273,000 647,000
Net cash provided by financing activities 1,391,000 965,000
Net increase (decrease) in cash (442,000) 289,000
Cash, beginning of period 1,153,000 204,000
Cash, end of period 711,000 493,000
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 2,045,000 337,000
Fair value of warrants and beneficial conversion feature associated with issued convertible notes $ 1,118,000 $ 319,000