Financials

v3.24.1.1.u2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash $ 78,000 $ 70,000
Prepaid expenses 11,000 12,000
Total current assets 89,000 82,000
Property and equipment, net of accumulated depreciation of $100,000 and $99,000 at March 31, 2024 and December 31, 2023, respectively 1,000 2,000
Total assets 90,000 84,000
Current liabilities:    
Accounts payable-license agreements-past due 2,256,000 2,198,000
Accounts payable and accrued expenses 982,000 972,000
Convertible debentures, net of discounts of $30,000 and $25,000, respectively; includes $2,071,000 and $2,022,000, respectively, in default 2,184,000 2,101,000
PPP loan payable 50,000 57,000
Total current liabilities 5,472,000 5,328,000
Total liabilities 5,472,000 5,328,000
Commitments and contingencies
Stockholders’ deficit    
Common stock, $.001 par value: 500,000,000 shares authorized, 397,931,803 and 392,586,471 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 397,932 392,587
Additional paid-in capital 120,035,068 119,729,413
Accumulated deficit (125,815,000) (125,366,000)
Total stockholders’ deficit (5,382,000) (5,244,000)
Total liabilities and stockholders’ deficit $ 90,000 $ 84,000
v3.24.1.1.u2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS, UNAUDITED - USD ($)
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Income Statement [Abstract]    
Revenues $ 0 $ 0
Costs and expenses    
Operating expenses 326,000 186,000
Research and development expenses 47,000 54,000
Loss from operations (373,000) (240,000)
Other income (expense)    
Interest and financing expense (76,000) (94,000)
Net Loss $ (449,000) $ (334,000)
Net loss per common share, basic $ (0.00) $ (0.00)
Net loss per common share, diluted $ (0.00) $ (0.00)
Weighted average common shares outstanding, basic 393,373,111 378,415,835
Weighted average common shares outstanding, diluted 393,373,111 378,415,835
v3.24.1.1.u2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS, UNAUDITED - USD ($)
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from Operating Activities    
Net loss $ (449,000) $ (334,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Fair value of warrants issued as compensation 5,000 9,000
Fair value of common stock issued for services 140,000 0
Amortization of debt discount 15,000 40,000
Accrued interest expense 49,000 42,000
Depreciation and amortization 1,000 1,000
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 1,000 7,000
Accounts payable and accrued expenses 10,000 30,000
Accounts payable – license agreements 58,000 59,000
Net cash used in operating activities (170,000) (146,000)
Cash flows from financing activities    
Net proceeds from exercise of warrants 4,000 39,000
Net proceeds from issuance of convertible notes and warrants 181,000 90,000
Principal payment on PPP loan payable (7,000) (9,000)
Net cash provided by financing activities 178,000 120,000
Net increase in cash 8,000 (26,000)
Cash, beginning of period 70,000 133,000
Cash, end of period 78,000 107,000
Cash paid during the year for:    
Interest 0 0
Income Taxes 0 0
Non-cash investing and financing activities    
Conversion of convertible notes to common stock 77,000 144,000
Relative fair value of warrants issued with convertible notes $ 85,000 $ 47,000