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 ($)
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from Operating Activities    
Net loss $ (645,000) $ (1,607,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Fair value of options and warrants issued as compensation 18,000 213,000
Amortization of debt discount 95,000 318,000
Accrued interest expense 63,000 93,000
Amortization of right of use asset 3,000 0
Depreciation 3,000 3,000
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (5,000) (52,000)
Accounts payable and accrued expenses 45,000 128,000
Accounts payable – license agreements 117,000 118,000
Accounts payable and accrued expenses – related parties 44,000 (1,000)
Lease liabilities (3,000) 0
Deposits and other current liabilities 0 0
Net cash used in operating activities (265,000) (787,000)
Cash flows from financing activities    
Net proceeds from private sale of restricted common stock 128,000 0
Net proceeds from issuance of convertible notes and warrants 238,000 212,000
Net proceeds from exercise of warrants 0 61,000
Net proceeds from other notes 0 151,000
Net cash provided by financing activities 366,000 424,000
Net increase (decrease) in cash 101,000 (363,000)
Cash, beginning of period 52,000 479,000
Cash, end of period 153,000 116,000
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 133,000 375,000
Fair value of warrants and beneficial conversion feature associated with issued convertible notes $ 99,000 $ 212,000