XML 17 R6.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities:    
Net loss $ (1,002,078) $ (2,097,527)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock based compensation 109,525 239,762
Changes in assets and liabilities:    
Prepaid expense and other assets 29,127 12,605
Accounts payable and other current liabilities 54,717 (292,189)
Net cash used in operating activities (808,709) (2,137,349)
Financing activities:    
Advances of royalties, related party 0 2,500,000
Payment of cash dividend 0 (99,178)
Proceeds from notes payable (Note 4) 41,600 0
Net cash provided by financing activities 41,600 2,400,822
Net change in cash and cash equivalents (767,109) 263,473
Cash and cash equivalents at beginning of period 803,816 1,108,713
Cash and cash equivalents at end of period 36,707 1,372,186
Non-cash financing activities:    
Issuance of common stock for payment of Preferred Stock dividend 200,348 99,946
Accrued, but unpaid dividends $ 50,411 $ 50,410