Note 10 - Disposal Group Assets Held for Sale

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

Note

10.

Disposal Group Assets Held for Sale

In late

2020,

the Company engaged in negotiations with an interested

third

party for the sale of all of its assets and liabilities related to its neural stem cell program (NSI-

566

). Those negotiations have subsequently ended. The Company is continuing the process to identify a purchaser for the assets and liabilities. The Company has concluded that it is probable that a sale will be completed within

one

year and that the assets and liabilities should be classified as a disposal group held for sale in its balance sheet at

December 31, 2020.

Assets and liabilities classified as held for sale will

no

longer be depreciated or amortized. Although the Company believes a sale will be consummated,

no

binding agreements have been entered into and there can be

no

assurance that a sale will ultimately be consummated or on what terms and conditions.

Based on current negotiations, the Company concluded the net proceeds from the sale are expected to exceed the net carrying value of the assets and liabilities and accordingly,

no

impairment charge has been recognized as of

December 31, 2020.

The assets and liabilities classified as a disposal group held for sale at

December 31, 2020

are comprised of the following:

	Amount
Cash	$	25,275
Prepaid expesnes		146,051
Property and equipment, net		1,128
Patents, net		458,738
ROU and other assets		204,291
Disposal group assets held for sale	$	835,483
Accounts payable and accrued expenses	$	75,306
Lease liabilities		159,038
Disposal group liabilities associated with assets held for sale	$	234,344