XML 19 R6.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net loss $ (7,653,000) $ (8,570,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation of property and equipment 18,000 21,000
Amortization of patent, trademark rights 101,000 106,000
Changes in right of use assets 150,000 48,000
Gain from sale of income tax operating losses (582,000)
Equity-based compensation 160,000 132,000
Loss (gain) on sale of marketable securities 177,000 (109,000)
Loss on issuance of warrants 458,000
Amortization of financial obligation 270,000
Change in assets and liabilities:    
Funds receivable from New Jersey net operating loss 1,181,000 1,676,000
Prepaid expenses and other current assets and other non-current assets 5,000 17,000
Lease liability (149,000) (34,000)
Other assets (366,000) (39,000)
Accounts payable (988,000) 1,774,000
Accrued expenses (1,187,000) (278,000)
Net cash used in operating activities (7,823,000) (5,838,000)
Cash flows from investing activities:    
Proceeds from sale of marketable securities 1,105,000 598,000
Purchase of marketable securities (158,000) (712,000)
Proceeds from sale of property and equipment 35,000
Purchase of patent and trademark rights (279,000) (203,000)
Net cash provided by (used in) investing activities 668,000 (282,000)
Cash flows from financing activities:    
Proceeds from sale of stock, net of issuance costs 856,000 105,000
Proceeds from note payable, net of issuance costs 2,367,000
Proceeds from issuance of equity warrants 2,047,000
Net cash provided by financing activities 5,270,000 105,000
Net decrease in cash and cash equivalents (1,885,000) (6,015,000)
Cash and cash equivalents at beginning of period 5,439,000 27,053,000
Cash and cash equivalents at end of period 3,554,000 21,038,000
Supplemental disclosures of non-cash investing and financing cash flow information:    
Operating lease-Right of Use Assets 3,000 (48,000)
Unrealized gain on marketable securities 42,000 196,000
Conversion of Series B preferred $ 6,000