Financials

v3.20.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Current Assets:    
Cash and cash equivalents $ 851 $ 28
Prepaid expenses 120 246
Total current assets 971 274
Intangible assets 0 0
Deposits 12 12
Operating lease right-to-use asset 80 110
Fixed assets, net 0 0
Total other assets 92 122
Total assets 1,063 396
Current Liabilities:    
Accounts payable 2,001 1,940
Accrued expenses 1,313 2,379
Accrued interest 3,283 2,029
Operating lease liability 90 120
Line of credit 31 31
Convertible notes 21,844 13,207
Total current liabilities 28,562 19,706
Stockholders' Deficit:    
Common stock - $0.001 par value; 750,000,000 shares authorized; and 75,435,862 and 69,784,699 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively 75 70
Additional paid-in capital 550,389 548,096
Accumulated deficit (577,819) (567,332)
Noncontrolling interest (169) (169)
Total stockholders' deficit (27,499) (19,310)
Total liabilities and stockholders' deficit 1,063 396
Series C    
Stockholders' Deficit:    
Convertible preferred stock 1 1
Series J    
Stockholders' Deficit:    
Convertible preferred stock $ 24 $ 24

Source

v3.20.2
Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Operating Expenses:        
Research and development $ 12 $ 154 $ 336 $ 988
Selling, general and administrative expenses 1,546 2,125 2,292 5,347
Total operating expenses 1,558 2,279 2,628 6,335
Loss from operations (1,558) (2,279) (2,628) (6,335)
Other Income (Expense):        
Loss on disposal of assets 0 (31) 0 (31)
Settlement expense (2,563) 0 (2,563) 0
Interest expense (4,658) (479) (5,296) (933)
Total other income (expense) (7,221) (510) (7,859) (964)
Loss before provision for income taxes (8,779) (2,789) (10,487) (7,299)
Provision for income taxes 0 0 0 0
Net loss $ (8,779) $ (2,789) $ (10,487) $ (7,299)
Net loss per common share - basic and diluted $ (.12) $ (.05) $ (.15) $ (0.14)
Weighted average common shares outstanding - basic and diluted 71,899,937 51,918,252 70,978,579 51,507,849

Source

v3.20.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (10,487) $ (7,299)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:    
Depreciation 0 10
Stock compensation expense for options and warrants issued to employees and non-employees 147 3,705
Amortization of debt discounts 1 331
Non-cash interest expense 3,955 1,140
Loss on disposal of assets 0 31
Settlement expense 2,563 0
Changes in Operating Assets and Liabilities:    
Other assets 126 8
Accounts payable and accrued liabilities 261 26
Net cash used in operating activities (3,634) (2,048)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisition of fixed assets 0 0
Net cash used by investing activities 0 0
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from notes payable 4,457 2,352
Loan costs 0 0
Repayment of note payable 0 (100)
Net cash provided by financing activities 4,457 2,252
Minority interest 0 0
Net increase (decrease) in cash and cash equivalents 823 204
Cash and cash equivalents - beginning of period 28 60
Cash and cash equivalents - end of period 851 264
Supplemental Disclosures:    
Interest paid 0 0
Income taxes paid 0 0
Issuance of common stock upon conversion of convertible notes 200 1,035
Issuance of common stock upon conversion of accrued interest $ 12 $ 10

Source