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, 2021
Mar. 31, 2020
Cash flows from operating activities    
Net Loss $ (371,000) $ (766,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock based compensation expense 13,000 121,000
Amortization of debt discount and accrued interest 98,000 152,000
Depreciation and amortization 1,000 2,000
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 31,000 41,000
Accounts payable and accrued expenses 58,000 92,000
Accounts payable - license agreements 59,000 59,000
Accounts payable and accrued expenses - related parties 37,000 (2,000)
Net cash used in operating activities (74,000) (301,000)
Cash flows from financing activities    
Net proceeds from private sale of restricted common stock 45,000 0
Net proceeds from issuance of convertible notes and warrants 30,000 35,000
Net proceeds from exercise of warrants and options 0 61,000
Net cash provided by financing activities 75,000 96,000
Net increase (decrease) in cash 1,000 (205,000)
Cash, beginning of period 52,000 479,000
Cash, end of period 53,000 274,000
Cash paid during the year for:    
Interest 0 0
Income Taxes 0 0
Non-cash investing and financing activities    
Adjustment for adoption of ASU 2020-06 30,000 0
Conversion of convertible debentures to common stock 44,000 219,000
Fair value of warrants and beneficial conversion feature associated with issued convertible notes $ 30,000 $ 35,000