Financials

v3.20.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Current Assets:    
Cash and cash equivalents $ 5 $ 28
Prepaid expenses 183 246
Total current assets 188 274
Deposits 12 12
Operating lease right-to-use asset 95 110
Total other assets 107 122
Total assets 295 396
Current Liabilities:    
Accounts payable 2,370 1,940
Accrued expenses 2,736 2,379
Accrued interest 2,651 2,029
Operating lease liability 105 120
Line of credit 31 31
Convertible debentures 13,257 13,207
Total current liabilities 21,150 19,706
Total liabilities 21,150 19,706
Commitments and contingencies
Stockholders' Deficit:    
Common stock - $0.001 par value; 750,000,000 shares authorized; and 70,599,433 and 69,784,699 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively 71 70
Additional paid-in capital 548,280 548,118
Accumulated deficit (569,040) (567,332)
Noncontrolling interest (169) (169)
Total stockholders' deficit (20,855) (19,310)
Total liabilities and stockholders' deficit 295 396
Series C    
Stockholders' Deficit:    
Convertible preferred stock 1 1
Series J    
Stockholders' Deficit:    
Convertible preferred stock $ 2 $ 2

Source

v3.20.1
Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Revenue:    
License revenues $ 0 $ 0
Total revenue 0 0
Cost of license revenue 0 0
Gross profit 0 0
Operating Expenses:    
Research and development 324 834
Selling, general and administrative 746 3,222
Total operating expenses 1,070 4,056
Loss from operations (1,070) (4,056)
Other Income (Expense):    
Interest expense/income (638) (454)
Total Other Income (Expense) (638) (454)
Loss before minority interest and provision for income taxes (1,708) (4,510)
Less: loss attributable to the noncontrolling interests 0 0
Loss before provision for income taxes (1,708) (4,510)
Provision for income taxes 0 0
Net loss $ (1,708) $ (4,510)
Loss Per Share:    
Basic $ (0.02) $ (0.09)
Diluted $ (0.02) $ (0.09)
Weighted Average Shares Outstanding:    
Basic 70,077,026 51,092,886
Diluted 70,077,026 51,092,886

Source

v3.20.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (1,708) $ (4,510)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:    
Depreciation 0 1
Stock compensation expense issued to employees and non-employees 0 2,565
Amortization of debt discounts 0 163
Changes in Operating Assets and Liabilities:    
Other assets 63 3
Accounts payable and accrued liabilities 1,422 817
Net cash used in operating activities (223) (961)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from notes payable 200 1,052
Loan costs 0 0
Repayment of note payable 0 (100)
Net cash provided by financing activities 200 952
Minority interest 0 0
Net increase (decrease) in cash and cash equivalents (23) (9)
Cash and cash equivalents - beginning of period 28 60
Cash and cash equivalents - end of period 5 51
Supplemental Disclosures:    
Interest paid 0 0
Income taxes paid 0 0
Issuance of common stock upon conversion of convertible notes 150 430
Issuance of common stock upon conversion of accrued interest $ 12 $ 4

Source