XML 14 R2.htm IDEA: XBRL DOCUMENT v3.22.1
CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 39,648,000 $ 27,142,000
Prepaid expenses and other current assets 2,172,000 2,323,000
Total current assets 41,820,000 29,465,000
Property and equipment, net 0 0
Other 7,000 135,000
Total assets 41,827,000 29,600,000
Current liabilities:    
Accounts payable 1,805,000 1,292,000
Accrued expenses 7,163,000 4,042,000
Accrued dividends payable 65,000 65,000
Total current liabilities 9,033,000 5,399,000
Convertible notes payable and accrued interest, net of debt discounts - related party (Note 5) 29,048,000 0
Derivative liabilities (Note 6) 1,130,000 0
Other liabilities 0 8,000
Total liabilities 39,211,000 5,407,000
Commitments and contingencies (Note 12)
Series C 6% super dividend redeemable convertible preferred stock; 1,000 shares authorized, 176 issued and outstanding at December 31, 2021 and 2020, redemption value: $8,441,000, liquidation value: $1,786,000 at December 31, 2021 1,723,000 1,723,000
Stockholders' equity:    
Undesignated stock, $0.01 par value; 20,000,000 shares authorized at December 31, 2021 and 2020, 20,000,000 shares designated at December 31, 2021 and 2020, respectively 0 0
Series A 12% convertible preferred stock; 1,742,500 shares authorized, 1,302,500 issued and outstanding at December 31, 2021 and 2020, liquidation value $1,302,500 at December 31, 2021 527,000 527,000
Common stock, $0.001 par value; 150,000,000 and 100,000,000 shares authorized at December 31, 2021 and 2020, respectively, 59,341,305 and 57,077,055 issued and outstanding at December 31, 2021 and 2020, respectively 59,000 56,000
Additional paid-in capital 271,001,000 261,883,000
Accumulated deficit (270,694,000) (239,996,000)
Total stockholders' equity 893,000 22,470,000
Total liabilities, redeemable convertible preferred stock and stockholders' equity $ 41,827,000 $ 29,600,000