XML 21 R6.htm IDEA: XBRL DOCUMENT v3.25.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:    
Net loss $ (17,320,000) $ (28,962,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation of property and equipment 37,000 39,000
Gain on sale of fixed assets (18,000)
Abandonment and expiration of patents and trademark rights 48,000 14,000
Amortization of patent and trademark rights 209,000 199,000
Non-cash lease expense 304,000 287,000
Amortization of financial obligation 301,000
Equity-based compensation 686,000 243,000
Loss (gain) on sale of marketable securities 93,000 (200,000)
Loss on fair value of warrants 458,000
Change in assets and liabilities:    
Funds receivable from New Jersey operating loss sales 1,184,000 492,000
Prepaid expenses and other current assets 103,000 153,000
Lease liability (309,000) (274,000)
Other assets 576,000 (486,000)
Accounts payable (60,000) 6,066,000
Accrued expenses (1,198,000) 1,180,000
Net cash used in operating activities (14,888,000) (21,267,000)
Cash flows from investing activities:    
Proceeds from sale of marketable investments 5,623,000 1,299,000
Purchase of marketable investments (361,000) (1,593,000)
Purchase of property and equipment (18,000)
Proceeds from sale of property and equipment 47,000
Purchase of patent and trademark rights (538,000) (585,000)
Net cash provided by (used in) by investing activities 4,706,000 (832,000)
Cash flows from financing activities:    
Proceeds from sale of stock, net of issuance costs 892,000 485,000
Repayment of debt obligation (251,000)
Proceeds from note payable, net of issuance costs 2,500,000
Proceeds from issuance of equity warrants 3,303,000
Net cash provided by financing activities 6,444,000 485,000
Net decrease in cash and cash equivalents (3,738,000) (21,614,000)
Cash and cash equivalents at beginning of year 5,439,000 27,053,000
Cash and cash equivalents at end of year 1,701,000 5,439,000
Supplemental disclosures of non-cash investing and financing cash flow information:    
Unrealized gain on marketable investments 570,000 376,000
Conversion of Series B preferred 689,000 7,000
Repayment of debt obligation with shares 243,000
Operating lease liability arising from obtaining right of use asset $ 31,000 $ 73,000