Quarterly report pursuant to Section 13 or 15(d)

CONDENSED STATEMENTS OF CASH FLOWS

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CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
 1 Months Ended 3 Months Ended 12 Months Ended
Jan. 31, 2021
Mar. 31, 2021
Mar. 31, 2020
Dec. 31, 2020
Operating Activities        
Net loss   $ (704,000) $ (508,000)  
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation and amortization   27,000 10,000  
Share-based compensation   90,000 64,000  
Changes in fair value of warrant liability   (6,000) (2,000)  
Amortization of deferred financing costs   108,000 0  
Loss on debt extinguishment   25,000 0  
Beneficial conversion feature in excess of face value   51,000 0  
Changes in operating assets and liabilities:        
Accounts receivable   (23,000) (108,000)  
Inventory   (19,000) (11,000)  
Prepaid expenses and other assets   121,000 (25,000)  
Accounts payable   (14,000) (123,000)  
Accrued expenses and other liabilities   (1,000) 43,000  
Net Cash Used in Operating Activities $ (345,000) (345,000) (660,000)  
Investing Activities        
Capital expenditures   (267,000) (1,000)  
Net Cash Used in Investing Activities   (267,000) (1,000)  
Financing Activities        
Issuance of common stock, net of issuance costs   285,000 620,000  
Proceeds from notes payable   15,000 0  
Principle payment of notes payable   (15,000) 0  
Proceeds from notes payable (PPP)   128,000 0  
Proceeds from convertible notes   1,337,000 0  
Principal payment on convertible notes   (100,000) 0  
Net Cash Provided by Financing Activities   1,650,000 620,000  
Net Increase in Cash   1,038,000 (41,000)  
Cash - Beginning of period $ 32,000 32,000 261,000 $ 261,000
Cash - End of period   1,070,000 220,000 $ 32,000
Cash paid during the year for:        
Interest   0 0  
Taxes   0 0  
Non-cash Investing and Financing Activities        
Fair value of beneficial conversion and warrant features of Convertible Notes Payable   1,276,000 0  
Original issue discounts recognized on Convertible Notes Payable   343,000 0  
Warrants issued for debt and equity financing costs   $ 130,000 $ 0