XML 15 R6.htm IDEA: XBRL DOCUMENT v3.23.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (4,962,000) $ (4,595,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 31,000 41,000
Stock-based compensation 129,000 141,000
Changes in operating assets and liabilities:    
Accounts receivable 175,000  
Prepaid expenses and other current assets (183,000) (147,000)
Accounts payable (425,000) (472,000)
Accrued expenses 195,000 35,000
Net cash used in operating activities (5,040,000) (4,996,000)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (49,000)  
Net cash used in investing activities (49,000)  
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock   3,519,000
Payments of long-term debt (19,000) (19,000)
Proceeds from private offering of common stock 2,040,000 9,710,000
Net cash provided by financing activities 2,021,000 13,210,000
NET (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS (3,068,000) 8,214,000
CASH AND CASH EQUIVALENTS–Beginning of period 6,391,000 8,589,000
CASH AND CASH EQUIVALENTS–End of period $ 3,323,000 $ 16,803,000