Financials

v3.10.0.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Sep. 30, 2018
Dec. 31, 2017
Current assets:    
Cash $ 279,000 $ 204,000
Prepaid expenses and other current assets 38,000 38,000
Total current assets 317,000 242,000
Property and equipment, net of accumulated depreciation of $72,000 and $51,000 at September 30, 2018 and December 31, 2017, respectively 25,000 46,000
Other assets 2,000 2,000
Total assets 344,000 290,000
Current liabilities:    
Accounts payable-license agreements 1,023,000 852,000
Accounts payable and accrued expenses 660,000 748,000
Accrued expenses 49,000 31,000
Convertible debentures, net of discounts of $99,000 and $47,000 at September 30, 2018 and December 31, 2017, respectively 626,000 533,000
Total current liabilities 2,358,000 2,164,000
Stockholders' deficit    
Common stock, $.001 par value: 500,000,000 shares authorized, 254,198,515 and 234,076,907 shares issued and outstanding at September 30, 2018 and December 31, 2017, respectively 254,198 234,077
Additional paid-in capital 109,979,802 108,000,923
Accumulated deficit (112,248,000) (110,109,000)
Total stockholders' deficit (2,014,000) (1,874,000)
Total liabilities and stockholders' deficit $ 344,000 $ 290,000
v3.10.0.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Income Statement [Abstract]        
Revenues $ 0 $ 0 $ 0 $ 50,000
Costs and Expenses        
Operating expenses 431,000 535,000 1,387,000 2,373,000
Research and development expenses 50,000 53,000 145,000 173,000
Loss before other expenses (481,000) (588,000) (1,532,000) (2,496,000)
Other income (expenses)        
Interest and financing expense (200,000) (227,000) (607,000) (1,649,000)
Loss on disposition of equipment 0 0 0 0
Net loss $ (681,000) $ (815,000) $ (2,139,000) $ (4,145,000)
Net loss per common share, basic and diluted $ (0.00) $ (0.00) $ (0.01) $ (0.02)
Weighted average common shares outstanding, basic and diluted 251,731,417 230,132,723 243,167,707 212,384,061
v3.10.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities    
Net Loss $ (2,139,000) $ (4,145,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock based compensation expense 340,000 653,000
Issuance of common stock for services 12,000 0
Amortization of debt discount and accrual of interest 567,000 1,667,000
Loss on disposition of assets 0 0
Depreciation and amortization 21,000 11,000
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 0 (14,000)
Accounts payable and accrued expenses (88,000) 549,000
Accounts payable - license agreements 171,000 10,000
Accounts payable and accrued expenses - related parties 18,000 (95,000)
Deposits and other current liabiilities 0 (5,000)
Net cash used in operating activities (1,098,000) (1,369,000)
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    
Proceeds from issuance of common stock 0 38,000
Net proceeds from issuance of convertible notes and warrants 526,000 1,469,000
Net proceeds from exercise of warrants 647,000 362,000
Net cash provided by financing activities 1,173,000 1,869,000
Net increase in cash 75,000 451,000
Cash, beginning of period 204,000 136,000
Cash, end of period 279,000 587,000
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 474,000 1,522,000
Fair value of warrants and beneficial conversion feature associated with issued convertible notes $ 526,000 $ 1,469,000