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v3.25.2

Condensed Balance Sheets - USD ($) | Jun. 30, 2025 | Dec. 31, 2024
--- | --- | ---
Current assets |  |
Cash and cash equivalents | $ 5,228,000 | $ 3,951,000
Restricted cash | 93,000 | 93,000
Deferred offering costs | 760,000 |
Prepaid expenses and other current assets | 1,043,000 | 188,000
TOTAL ASSETS | 7,124,000 | 4,232,000
Current liabilities |  |
Accounts payable | 1,374,000 | 3,853,000
Accrued expenses | 608,000 | 1,797,000
Dividend payable | 85,000 |
Warrant liability | 240,000 | 252,000
Total Current Liabilities | 2,307,000 | 5,902,000
Stockholders’ Equity (Deficit) |  |
Convertible Preferred stock, par value $0.01, 15,000,000 shares authorized Series C - 96,230 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively | 1,000 | 1,000
Common stock, par value $0.001, 250,000,000 shares authorized, 3,272,995 and 2,234,328 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively | 3,000 | 2,000
Additional paid in capital | 700,378,000 | 693,554,000
Accumulated deficit | (697,521,000) | (695,227,000)
Total Stockholders’ Equity (Deficit) | 2,861,000 | (1,670,000)
TOTAL LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS’ (EQUITY) DEFICIT | 7,124,000 | 4,232,000
Series L Preferred Stock [Member] |  |
Mezzanine Equity |  |
Convertible Preferred stock, par value $0.01, 15,000,000 shares authorized Series L - 6,301 and 0 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively | $ 1,956,000 |

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