Financials

v3.19.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
Current Assets:    
Cash and cash equivalents $ 51 $ 60
Prepaid expenses 27 30
Total Current Assets 78 90
Intangible assets 25,262 25,262
Deposits 12 12
Operating lease right-to-use asset 153 0
Fixed assets, net 34 35
Total Other Assets 25,461 25,309
TOTAL ASSETS 25,539 25,399
Current Liabilities:    
Accounts payable 1,898 1,762
Accrued expenses 2,136 1,455
Deferred rent 0 8
Operating lease liability 161 0
Note payable to related party 0 100
Line of credit 31 31
Convertible debentures 11,297 10,673
Total Current Liabilities 15,523 14,029
Total liabilities 15,523 14,029
Stockholders' Equity:    
Common stock - $0.001 par value; 750,000,000 shares authorized; and 51,374,417 and 50,650,478 shares issued and outstanding at March 31, 2019 and December 31, 2018, respectively 51 51
Additional paid-in capital 543,327 540,171
Accumulated deficit (533,195) (528,685)
Noncontrolling interest (169) (169)
Total Stockholders' Equity 10,016 11,370
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 25,539 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: $ 1 $ 1

Source

v3.19.1
Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Revenue:    
License revenues $ 0 $ 0
TOTAL REVENUE 0 0
Cost of License Revenue 0 0
Gross profit 0 0
Operating Expenses:    
Research and development 834 3,473
Selling, general and administrative 3,222 3,687
Total operating expenses 4,056 7,160
Loss from Operations (4,056) (7,160)
Other income (expense)    
Interest expense/income (454) (2,931)
Total Other Income (Expense) (454) (2,931)
Loss before minority interest and provision for income taxes (4,510) (10,091)
Less: Loss attributable to the noncontrolling interests 0 0
Loss before provision for income taxes (4,510) (10,091)
Provision for income taxes 0 0
Net loss $ (4,510) $ (10,091)
Loss per share    
Basic $ (0.09) $ (0.20)
Diluted $ (0.09) $ (0.20)
Weighted Average Shares Outstanding - basic and diluted    
Basic 51,092,886 50,117,977
Diluted 51,092,886 50,117,977

Source

v3.19.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (4,510) $ (10,091)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 1 1
Stock compensation expense for options and warrants issued to employees and non-employees 2,565 3,060
Amortization of debt discounts 163 2,665
Non-cash interest expense 0 266
Amortization of loan costs 0 407
Changes in operating assets and liabilities:    
Other assets 3 0
Accounts payable and accrued expenses 817 (534)
Net cash used in operating activities (961) (4,226)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisition of fixed assets 0 (2)
Net cash used in investing activities 0 (2)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from notes payable 1,052 7,055
Loan costs 0 (533)
Repayment of note payable (100) 0
Net cash provided by financing activities 952 6,522
Minority Interest 0 0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (9) 2,294
CASH AND CASH EQUIVALENTS - Beginning of period 60 576
CASH AND CASH EQUIVALENTS - End of period 51 2,870
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 430 0
Acquisition of intangibles through issuance of common stock $ 4 $ 0

Source