Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (3,767,000) $ (4,414,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 579,000 1,243,000
Net change in fair value of trading marketable securities (309,000) (1,000)
Non-cash lease expense 21,000 19,000
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 101,000 (330,000)
Accounts payable and accrued liabilities (402,000) (543,000)
Accounts payable - related parties (9,000) 29,000
Fixed cash payments related to operating leases (23,000) (22,000)
Net cash used in operating activities (3,809,000) (4,019,000)
CASH FLOWS FROM INVESTING ACTIVITIES    
Investment in trading marketable securities (8,154,000) (2,687,000)
Investment in available-for-sale securities 0 (499,000)
Proceeds from disposition of marketable securities 9,240,000 7,428,000
Proceeds from disposition of available-for-sale securities 1,512,000 0
Net cash provided by investing activities 2,598,000 4,242,000
CASH FLOWS FROM FINANCING ACTIVITIES    
Payment of stock issuance costs 0 (134,000)
Net cash provided by (used in) financing activities 0 (134,000)
Effect of exchange rate changes on cash 42,000 (129,000)
Net change in cash and cash equivalents (1,169,000) (40,000)
Cash and cash equivalents - beginning of period 6,888,000 12,162,000
Cash and cash equivalents - end of period 5,719,000 12,122,000
Supplemental Cash Flow Information    
Cash paid for interest 0 0
Cash paid for income taxes 0 0
NON-CASH FINANCING AND INVESTING ACTIVITIES:    
Initial recognition of the right-of-use asset and lease liability 0 20,000
Unrealized loss from available-for-sale securities $ 0 $ (29,000)