Financials

v3.19.3
Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2019
Dec. 31, 2018
Current Assets:    
Cash and cash equivalents $ 313 $ 60
Prepaid expenses 24 30
Total Current Assets 337 90
Intangible assets 0 25,262
Deposits 12 12
Operating lease right-to-use asset 133 0
Fixed assets, net 0 35
Total Other Assets 145 25,309
TOTAL ASSETS 482 25,399
Current Liabilities:    
Accounts payable 1,720 1,762
Accrued expenses 2,276 1,023
Accrued interest 1,456 432
Deferred rent 8 8
Operating lease liability 134 0
Note payable to related party 0 100
Line of credit 31 31
Convertible debentures 13,143 10,673
Total Current Liabilities 18,768 14,029
Total liabilities 18,768 14,029
Stockholders' Equity:    
Common stock - $0.001 par value; 750,000,000 shares authorized; and 66,891629 and 50,650,478 shares issued and outstanding at September 30, 2019 and December 31, 2018, respectively 67 51
Additional paid-in capital 547,675 540,171
Accumulated deficit (565,862) (528,685)
Noncontrolling interest (169) (169)
Total Stockholders' Equity (18,286) 11,370
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 482 25,399
Series C    
Stockholders' Equity:    
Convertible preferred stock - $0.001 par value; 15,000,000 shares authorized: 1 1
Series J    
Stockholders' Equity:    
Convertible preferred stock - $0.001 par value; 15,000,000 shares authorized: $ 2 $ 1

Source

v3.19.3
Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Operating Expenses:        
Research and development $ 671 $ 1,111 $ 1,659 $ 7,835
Selling, general and administrative 3,585 5,035 8,932 10,628
Loss on impairment 4,599 228,514 4,599 228,514
Total operating expenses 8,855 234,660 15,190 246,977
Loss from Operations (8,855) (234,660) (15,190) (246,977)
Other income (expense)        
Loss on disposal of assets (20,463) 0 (20,494) 0
Interest expense (560) (1,123) (1,493) (7,978)
Total Other Income (Expense) (21,023) (1,123) (21,987) (7,978)
Loss before provision for income taxes (29,878) (235,783) (37,177) (254,955)
Provision for income taxes 0 0 0 0
Net loss $ (29,878) $ (235,783) $ (37,177) $ (254,955)
Net loss per common share - basic and diluted $ (.51) $ (4.70) $ (.69) $ (5.09)
Weighted average common shares outstanding - basic and diluted 58,805,997 50,154,516 53,967,298 50,130,202

Source

v3.19.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (37,177) $ (254,955)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 10 5
Stock compensation expense issued to employees and non-employees 6,202 8,191
Amortization of debt discounts 451 7,816
Non-cash interest expense 1,140 0
Loss on disposal of assets 20,494 0
Amortization of loan costs 0 1,076
Impairment of intangible assets 4,599 228,514
Changes in operating assets and liabilities:    
Other assets 6 (27)
Accounts payable and accrued expenses 1,101 (53)
Net cash used in operating activities (3,174) (9,433)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisition of fixed assets 0 (4)
Disposal of fixed assets 200 0
Net cash used in investing activities 200 (4)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from notes payable 3,327 15,045
Loan costs 0 (533)
Repayment of note payable (100) (4,419)
Net cash provided by financing activities 3,227 10,093
Minority Interest 0 0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 253 656
CASH AND CASH EQUIVALENTS - Beginning of period 60 576
CASH AND CASH EQUIVALENTS - End of period 313 1,232
Supplemental disclosures:    
Interest paid 0 0
Income taxes paid 0 0
Non-Cash Investing and Financing Activities:    
Issuance of common stock upon conversion of convertible notes 1,150 220
Issuance of common stock upon conversion of accrued interest $ 14 $ 0

Source