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GOING CONCERN AND LIQUIDITY
9 Months Ended
Sep. 30, 2020
GOING CONCERN AND LIQUIDITY [Abstract]  
GOING CONCERN AND LIQUIDITY
Note 2. GOING CONCERN AND LIQUIDITY

The accompanying condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”), which contemplate continuation of the Company as a going concern and realization of assets and satisfaction of liabilities in the normal course of business and do not include any adjustments that might result from the outcome of any uncertainties related to our going concern assessment. The carrying amounts of assets and liabilities presented in the financial statements do not necessarily purport to represent realizable or settlement values.

The Company incurred a loss from operations of approximately $2.7 million for the nine months ended September 30, 2020. As of September 30, 2020, cash and cash equivalents totaled approximately $0.6 million. equivalents to be generated from operations will not be sufficient to cover our projected operating expenses for the foreseeable future. Management believes these conditions raises substantial doubt about the Company's ability to continue as a going concern within a year and a day from the issuance of these consolidated financial statements. The ability of the Company to continue as a going concern is dependent on the Company's ability to generate significant revenue and raise additional funds (either through equity or debt financings, collaborative agreements or from other sources). There are no assurances that the Company will be successful in its efforts to generate significant revenues, maintain a sufficient cash balance or report profitable operations to continue as a going concern.