v3.24.3
Condensed Consolidated Statements of Cash Flows, Unaudited - USD ($)
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from Operating Activities    
Net loss $ (1,147,000) $ (919,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Fair value of options and warrants issued as compensation 32,000 34,000
Fair value of common stock issued as compensation 18,000 0
Fair value of common stock for services 140,000 0
Amortization of debt discount 50,000 90,000
Accrued interest expense 160,000 137,000
Depreciation 1,000 3,000
Gain on partial forgiveness of PPP note payable 0 0
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 1,000 (6,000)
Lease right of use asset   0
Accounts payable – license agreements 176,000 177,000
Accounts payable and accrued expenses (20,000) (7,000)
Lease liabilities 0 0
Net cash used in operating activities (589,000) (491,000)
Cash flows from investing activities    
Purchase of property and equipment 0 0
Net cash used in investing activities 0 0
Cash flows from financing activities    
Net proceeds from issuance of convertible notes and warrants 775,000 533,000
Net proceeds from issuance of warrants and options 0 50,000
Principal payment on PPP loan payable (19,000) (11,000)
Net cash provided by financing activities 756,000 572,000
Net increase in cash 167,000 81,000
Cash, beginning of period 70,000 133,000
Cash, end of period 237,000 214,000
Cash paid during the year for:    
Interest 0 0
Income Taxes 1,600 1,600
Non-cash investing and financing activities    
Conversion of convertible notes and accrued interest to common stock 255,000 253,000
Value of warrants issued with convertible notes $ 424,000 $ 231,000

Source

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