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 ($)
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from Operating Activities    
Net loss $ (1,168,000) $ (2,043,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Fair value of options and warrants issued for services 41,000 296,000
Amortization of debt discount 194,000 339,000
Accrued interest expense 92,000 118,000
Amortization of right of use asset 13,000 0
Depreciation 5,000 5,000
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 36,000 9,000
Accounts payable and accrued expenses 65,000 176,000
Accounts payable – license agreements 176,000 177,000
Accounts payable and accrued expenses – related parties 44,000 47,000
Lease liabilities (12,000)  
Net cash used in operating activities (514,000) (876,000)
Cash flows from financing activities    
Net proceeds from private sale of restricted common stock 128,000 25,000
Net proceeds from issuance of convertible notes and warrants 412,000 212,000
Net proceeds from exercise of warrants 0 61,000
Net proceeds from other notes 0 151,000
Net cash provided by financing activities 540,000 449,000
Net increase (decrease) in cash 26,000 (427,000)
Cash, beginning of period 52,000 479,000
Cash, end of period 78,000 52,000
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
Recording of right of use asset and lease liability 165,000 0
Conversion of convertible debentures and accrued interest to common stock 332,000 375,000
Fair value of warrants and beneficial conversion feature associated with issued convertible notes $ 156,000 $ 212,000