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Condensed Consolidated Statements of Cash Flows, Unaudited - USD ($)
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from Operating Activities    
Net loss $ (11,813,000) $ (782,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Fair value of vested stock options and warrants 6,740,000 9,000
Stock-based compensation expense – warrant modification 511,000 0
Fair value of common stock issued for services 1,451,000 140,000
Fair value of common stock issued as compensation 240,000 0
Amortization of debt discount 141,000 30,000
Accrued interest expense 91,000 106,000
Depreciation and amortization 0 1,000
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (21,000) 0
Accounts payable and accrued expenses 182,000 60,000
Accounts payable – license agreements 118,000 117,000
Net cash used in operating activities (2,360,000) (319,000)
Cash flows from financing activities    
Net proceeds from exercise of warrants 727,000 18,000
Net proceeds from issuance of convertible notes and warrants 2,285,000 382,000
Principal payment on PPP loan payable (24,000) (19,000)
Net cash provided by financing activities 2,988,000 381,000
Net increase in cash 628,000 62,000
Cash, beginning of period 150,000 70,000
Cash, end of period 778,000 132,000
Cash paid during the year for:    
Interest 0 0
Income Taxes 1,600 0
Non-cash investing and financing activities    
Conversion of convertible notes and accrued interest into common stock 3,803,000 127,000
Cashless exercise of warrants applied to settlement of accounts payable 99,000 0
Relative fair value of warrants issued with convertible notes $ 1,430,000 $ 190,000