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, 2022
Mar. 31, 2021
Cash flows from Operating Activities    
Net loss $ (301,000) $ (371,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Fair value of options and warrants issued as compensation 24,000 13,000
Amortization of debt discount and accrued interest 65,000 98,000
Depreciation and amortization 1,000 1,000
Gain on partial forgiveness of PPP note payable (24,000) 0
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 4,000 31,000
    Decrease in operating lease right of use asset 7,000 0
Accounts payable and accrued expenses 95,000 58,000
Accounts payable – license agreements 59,000 59,000
Accounts payable and accrued expenses – related parties 0 37,000
Operating lease liabilities (7,000) 0
Net cash used in operating activities (77,000) (74,000)
Cash flows from financing activities    
Net proceeds from exercise of warrants 25,000 0
Net proceeds from private sale of restricted common stock 0 45,000
Net proceeds from issuance of convertible notes and warrants 0 30,000
Net cash provided by financing activities 25,000 75,000
Net increase (decrease) in cash (52,000) 1,000
Cash, beginning of period 114,000 52,000
Cash, end of period 62,000 53,000
Cash paid during the year for:    
Interest 0 0
Income Taxes 0 0
Non-cash investing and financing activities    
Conversion of convertible debentures to common stock 11,000 44,000
Adjustment for adoption of ASU 2020-06 0 30,000
Value of warrants issued with convertible notes $ 0 $ 30,000