Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities    
Net Loss $ (700,000) $ (1,484,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock based compensation expense 143,000 235,000
Issuance of common stock for services 12,000 0
Amortization of debt discount and accrued interest 143,000 192,000
Depreciation and amortization 8,000 2,000
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 15,000 (5,000)
Accounts payable and accrued expenses 15,000 141,000
Accounts payable - license agreements 63,000 66,000
Accounts payable and accrued expenses - related parties 6,000 662,000
Deposits and other current liabiilities 0 20,000
Net cash used in operating activities (295,000) (171,000)
Cash flows from investing activities    
Purchase of equipment 0 (19,000)
Net cash used in investing activities 0 (19,000)
Cash flows from financing activities    
Net proceeds from issuance of convertible notes and warrants 245,000 201,000
Net proceeds from exercise of warrants and options 71,000 0
Net cash provided by financing activities 316,000 201,000
Net increase in cash 21,000 11,000
Cash, beginning of period 204,000 136,000
Cash, end of period 225,000 147,000
Supplemental disclosures of cash flow information    
Cash paid during the year for: Interest 0 0
Cash paid during the year for: Income taxes 0 0
Non-cash investing and financing activities    
Conversion of convertible debentures to common stock 99,000 120,000
Fair value of warrants and beneficial conversion feature associated with issued convertible notes $ 245,000 $ 201,000