Note 7 - Disposal Group Assets Held for Sale

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

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

Note

7.

Disposal Group Assets Held for Sale

At

September 30, 2020,

the Company was 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

). The Company has concluded that it is probable that this 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

September 30, 2020.

Assets and liabilities classified as held for sale will

no

longer be depreciated or amortized. Although the Company believes the sale will be consummated and the parties have conceptually agreed on terms,

no

binding agreements have been entered into and there can be

no

assurance that the 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

September 30, 2020.

The assets and liabilities classified as a disposal group held for sale are comprised of the following:

	September 30, 2020
Cash	$	100,367
Prepaid expenses		143,836
Property and equipment, net		1,080
Patents, net		458,738
ROU and other assets		195,517
Disposal group assets held for sale	$	899,538
Accounts payable and accrued expenses	$	166,373
Lease liabilities		159,439
Disposal group liabilities associated with assets held for sale	$	325,812