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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Qrons Inc (QB) | USOTC:QRON | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.185475 | 0.1546 | 0.282 | 0.00 | 20:30:02 |
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
|
|
|
|
For the quarterly period ended September 30, 2020
|
|
|
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
|
|
|
|
For the transition period from __________ to __________
|
Title of each class
|
|
Trading
Symbol(s)
|
|
Name of each exchange
on which registered
|
None
|
|
N/A
|
|
N/A
|
|
|
Large accelerated filer[ ]
|
Accelerated filer [ ]
|
Non-accelerated filer[X]
|
Smaller reporting company [X]
|
|
Emerging growth company [X]
|
QRONS INC.
TABLE OF CONTENTS
|
||
|
|
Page
|
|
PART I – FINANCIAL INFORMATION
|
|
|
|
|
Item 1.
|
4
|
|
|
|
|
Item 2.
|
27
|
|
|
|
|
Item 3.
|
32
|
|
|
|
|
Item 4.
|
32
|
|
|
|
|
|
PART II – OTHER INFORMATION
|
|
|
|
|
Item 1.
|
34
|
|
|
|
|
Item 1A.
|
34
|
|
|
|
|
Item 2.
|
34
|
|
|
|
|
Item 3.
|
34
|
|
|
|
|
Item 4.
|
34
|
|
|
|
|
Item 5.
|
34
|
|
|
|
|
Item 6.
|
34
|
|
|
|
|
|
35
|
|
Three Months ended
|
Nine Months ended
|
||||||||||||||
|
September 30,
|
September 30,
|
||||||||||||||
|
2020
|
2019
|
2020
|
2019
|
||||||||||||
|
||||||||||||||||
Net sales
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
||||||||
|
||||||||||||||||
Operating expenses:
|
||||||||||||||||
Research and development expenses
|
33,441
|
136,080
|
207,900
|
439,608
|
||||||||||||
Professional fees
|
9,010
|
14,928
|
39,526
|
58,154
|
||||||||||||
General and administrative expenses
|
20,977
|
308,735
|
48,528
|
424,652
|
||||||||||||
459,743
|
295,954
|
922,414
|
||||||||||||||
|
||||||||||||||||
Income (loss) from operations
|
(63,428
|
)
|
(459,743
|
)
|
(295,954
|
)
|
(922,414
|
)
|
||||||||
|
||||||||||||||||
Other income (expense)
|
||||||||||||||||
Interest expense
|
(12,460
|
)
|
(1,243
|
)
|
(39,559
|
)
|
(3,159
|
)
|
||||||||
Change in derivative liabilities
|
(78,045
|
)
|
6,828
|
(75,283
|
)
|
(7,629
|
)
|
|||||||||
Total other income (expense)
|
(90,505
|
)
|
5,585
|
(114,842
|
)
|
(10,788
|
)
|
|||||||||
|
||||||||||||||||
Net (loss)
|
$
|
(153,933
|
)
|
$
|
(454,158
|
)
|
$
|
(410,796
|
)
|
$
|
(933,202
|
)
|
||||
|
||||||||||||||||
Net (loss) per common shares (basic and diluted)
|
$
|
(0.01
|
)
|
$
|
(0.04
|
)
|
$
|
(0.03
|
)
|
$
|
(0.07
|
)
|
||||
|
||||||||||||||||
Weighted average shares outstanding
|
||||||||||||||||
(basic and diluted)
|
13,182,180
|
12,966,485
|
13,120,811
|
12,938,828
|
|
|
Series A Preferred Stock
|
|
|
Common Stock
|
|
|
Additional
Paid-in |
|
|
Accumulated
|
|
|
Total
Stockholders'
|
|
|||||||||||||
|
|
Shares
|
|
|
Amount
|
|
|
Shares
|
|
|
Amount
|
|
|
Capital
|
|
|
Deficit
|
|
|
Equity (Deficit)
|
|
|||||||
Balance, December 31, 2019
|
|
|
2,000
|
|
|
$
|
2
|
|
|
|
13,089,789
|
|
|
$
|
1,309
|
|
|
$
|
6,561,047
|
|
|
$
|
(7,070,480
|
)
|
|
$
|
(508,122
|
)
|
Stock options granted to non-employees as research and development costs
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
67,554
|
|
|
|
-
|
|
|
|
67,554
|
|
Warrants granted as financing costs
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
3,400
|
|
|
|
-
|
|
|
|
3,400
|
|
Net loss for the period
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(240,132
|
)
|
|
|
(240,132
|
)
|
Balance, March 31, 2020
|
|
|
2,000
|
|
|
|
2
|
|
|
|
13,089,789
|
|
|
|
1,309
|
|
|
|
6,632,001
|
|
|
|
(7,310,612
|
)
|
|
|
(677,300
|
)
|
Stock options granted to non-employees as research and development costs
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
29,717
|
|
|
|
|
|
|
|
29,717
|
|
Net loss for the period
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(16,731
|
)
|
|
|
(16,731
|
)
|
Balance June 30, 2020
|
|
|
2,000
|
|
|
2
|
|
|
|
13,089,789
|
|
|
1,309
|
|
|
6,661,718
|
|
|
(7,327,343
|
)
|
|
(664,314
|
)
|
|||||
Stock options granted to non-employees as research and development costs
|
19,840
|
19,840
|
||||||||||||||||||||||||||
Issuance of common stock for private placement
|
200,000
|
20
|
99,980
|
100,000
|
||||||||||||||||||||||||
Net loss for the period
|
(153,933
|
)
|
(153,933
|
)
|
||||||||||||||||||||||||
Balance September 30, 2020
|
2,000
|
|
|
$
|
2
|
|
|
|
13,289,789
|
|
|
$
|
1,329
|
|
|
$
|
6,781,538
|
|
|
$
|
(7,481,276
|
)
|
|
$
|
(698,407
|
)
|
|
|
Series A Preferred Stock
|
|
|
Common Stock
|
|
|
Additional
Paid-in |
|
|
Accumulated
|
|
|
Total
Stockholders'
|
|
|||||||||||||
|
|
Shares
|
|
|
Amount
|
|
|
Shares
|
|
|
Amount
|
|
|
Capital
|
|
|
Deficit
|
|
|
Equity (Deficit)
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Balance, December 31, 2018
|
|
|
2,000
|
|
|
$
|
2
|
|
|
|
12,872,309
|
|
|
$
|
1,287
|
|
|
$
|
5,629,694
|
|
|
$
|
(5,523,708
|
)
|
|
$
|
107,275
|
|
Shares issued for stock awards for business advisory services
|
|
|
-
|
|
|
|
-
|
|
|
|
30,000
|
|
|
|
3
|
|
|
|
37,497
|
|
|
|
-
|
|
|
|
37,500
|
|
Issuance of common stock for private placement
|
|
|
-
|
|
|
|
-
|
|
|
|
40,000
|
|
|
|
4
|
|
|
|
39,996
|
|
|
|
-
|
|
|
|
40,000
|
|
Stock option granted to non-employees as research and development costs
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
45,442
|
|
|
|
-
|
|
|
|
45,442
|
|
Net loss for the period
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(261,461
|
)
|
|
|
(261,461
|
)
|
Balance, March 31, 2019
|
|
|
2,000
|
|
|
|
2
|
|
|
|
12,942,309
|
|
|
|
1,294
|
|
|
|
5,752,629
|
|
|
|
(5,785,169
|
)
|
|
|
(31,244
|
)
|
Issuance of common stock for private placement
|
|
|
-
|
|
|
|
-
|
|
|
|
25,000
|
|
|
|
3
|
|
|
|
24,997
|
|
|
|
-
|
|
|
|
25,000
|
|
Stock option granted to non-employees as research and development costs
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
42,491
|
|
|
|
-
|
|
|
|
42,491
|
|
Net loss for the period
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(217,583
|
)
|
|
|
(217,583
|
)
|
Balance, June 30, 2019
|
|
|
2,000
|
|
|
2
|
|
|
|
12,967,309
|
|
|
1,297
|
|
|
5,820,117
|
|
|
(6,002,752
|
)
|
|
(181,336
|
)
|
|||||
Shares issued for stock awards for business advisory services
|
25,000
|
2
|
40,248
|
40,250
|
||||||||||||||||||||||||
Shares issued for stock awards to officers
|
37,500
|
4
|
49,121
|
49,125
|
||||||||||||||||||||||||
Shares issued for services provided
|
50,000
|
5
|
74,495
|
74,500
|
||||||||||||||||||||||||
Stock option granted to officers
|
53,307
|
53,307
|
||||||||||||||||||||||||||
Stock option granted to non-employees as research and development costs
|
38,753
|
38,753
|
||||||||||||||||||||||||||
Net loss for the period
|
(454,158
|
)
|
(454,158
|
)
|
||||||||||||||||||||||||
Balance, September 30, 2019
|
2,000
|
|
|
$
|
2
|
|
|
|
13,079,809
|
|
|
$
|
1,308
|
|
|
$
|
6,076,041
|
|
|
$
|
(6,456,910
|
)
|
|
$
|
(379,559
|
|
For the nine months ended September 30,
|
|||||||
|
2020
|
2019
|
||||||
Cash Flows From Operating Activities
|
||||||||
Net loss
|
$
|
(410,796
|
)
|
$
|
(933,202
|
)
|
||
Adjustments to reconcile net loss to net cash (used by) operating activities:
|
||||||||
Stock options issued for research and development expense
|
117,111
|
126,686
|
||||||
Stock options issued for advisory and consulting services
|
53,307
|
|||||||
Stock awards issued for advisory and consulting services
|
-
|
201,375
|
||||||
Warrants granted as financing costs
|
3,400
|
-
|
||||||
Accretion of debt discount
|
26,350
|
-
|
||||||
Change in derivative liabilities
|
75,284
|
7,629
|
||||||
Changes in operating assets and liabilities:
|
||||||||
Prepaid expenses
|
54,522
|
19,269
|
||||||
Accounts payable and accrued liabilities
|
(62,483
|
)
|
60,256
|
|||||
Accounts payable and accrued liabilities, related party
|
11,045
|
53,314
|
||||||
Net cash (used by) operating activities
|
(185,567
|
)
|
(411,366
|
)
|
||||
|
||||||||
Cash Flows From Investing Activities
|
||||||||
Net cash provided from (used by) investing activities
|
-
|
-
|
||||||
|
||||||||
Cash Flows From Financing Activities
|
||||||||
Proceeds from convertible notes
|
10,000
|
-
|
||||||
Proceeds from unsecured short-term advances
|
-
|
100,000
|
||||||
Proceeds from private placement
|
100,000
|
65,000
|
||||||
Proceeds from demand loan, related party
|
-
|
50,000
|
||||||
Proceeds from related party advances
|
101,000
|
100,000
|
||||||
Net cash provided from financing activities
|
211,000
|
315,000
|
||||||
|
||||||||
Increase (decrease) in cash and cash equivalents
|
25,433
|
(96,366
|
)
|
|||||
|
||||||||
Cash at beginning of year
|
67,025
|
143,862
|
||||||
Cash at end of period
|
$
|
92,458
|
$
|
47,496
|
||||
|
||||||||
SUPPLEMENTAL DISCLOSURES
|
||||||||
Interest paid
|
$
|
-
|
$
|
-
|
||||
Income taxes paid
|
$
|
-
|
$
|
-
|
||||
|
||||||||
SUPPLEMENTAL NON-CASH FINANCING ACTIVITIES
|
||||||||
Derivative liability associated with debt discount
|
$
|
7,915
|
$
|
-
|
|
Fair value measurements on a recurring basis
|
|||||||||||
|
Level 1
|
Level 2
|
Level 3
|
|||||||||
As of September 30, 2020:
|
||||||||||||
Liabilities
|
||||||||||||
Derivative liabilities
|
$
|
-
|
$
|
-
|
$
|
172,565
|
||||||
|
||||||||||||
As of December 31, 2019:
|
||||||||||||
Liabilities
|
||||||||||||
Derivative liabilities
|
$
|
-
|
$
|
-
|
$
|
89,367
|
|
September 30,
2020
|
December 31,
2019
|
||||||
Research Warrants at 3% of issued and outstanding shares
|
398 694
|
392,694
|
||||||
Convertible Notes
|
224,530
|
261,107
|
||||||
Series A Preferred shares
|
700
|
700
|
||||||
Stock options vested
|
2,448,334
|
2,331,669
|
||||||
Stock options not yet vested
|
91,666
|
183,331
|
||||||
Stock purchase warrants
|
180,000
|
70,000
|
||||||
Total
|
3,343,924
|
3,239,501
|
|
September 30, 2020
|
December 31, 2019
|
||||||
Face value of certain convertible notes
|
$
|
25,000
|
$
|
25,000
|
||||
Less: unamortized discount
|
-
|
-
|
||||||
Carrying value
|
$
|
25,000
|
$
|
25,000
|
Balance at December 31, 2018
|
$
|
36,827
|
||
Change in fair value
|
355
|
|||
Balance at December 31, 2019
|
37,182
|
|||
Change in fair value
|
9,502
|
|||
Balance at September 30, 2020
|
$
|
46,684
|
|
Commitment Date
|
|
September 30, 2020
|
|
December 31, 2019
|
|
||||||
Expected dividends
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
Expected volatility
|
101% ~103%
|
|
170% ~ 176%
|
|
167% ~ 180%
|
|
||||||
Expected term
|
0.92 ~ 1 year
|
|
0.99 year
|
|
0.26 year
|
|
||||||
Risk free interest rate
|
|
|
1.33%
|
|
|
0.12%
|
|
|
|
1.60%
|
|
September 30, 2020
|
December 31, 2019
|
||||||
Face value of certain convertible notes
|
$
|
80,000
|
$
|
70,000
|
||||
Less: unamortized discount
|
(45,393
|
)
|
(63,829
|
)
|
||||
Carrying value
|
$
|
34,607
|
$
|
6,171
|
Balance at December 31, 2018
|
$
|
-
|
||
Derivative addition associated with convertible notes
|
64,774
|
|||
Change in fair value
|
(12,589
|
)
|
||
Balance at December 31, 2019
|
52,185
|
|||
Derivative addition associated with convertible notes
|
7,915
|
|||
Change in fair value
|
65,781
|
|||
Balance at September 30, 2020
|
$
|
125,881
|
|
Commitment Date
|
|
September 30, 2020
|
|
December 31, 2019
|
|
||||||
Expected dividends
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
Expected volatility
|
154% ~173%
|
|
173% ~180%
|
|
156%
|
|
||||||
Expected term
|
2.10 years
|
|
1.3 ~ 1.5 years
|
|
2 years
|
|
||||||
Risk free interest rate
|
|
|
1.42 ~ 1.65%
|
0.12% ~ 0.13%
|
|
|
|
1.58%
|
(1)
|
Demand Loan from related party
|
(2)
|
Advances from Related Parties
|
(3)
|
Others
|
-
|
Upon successful clinical FDA Phase II completion - $130,000; and
|
-
|
Upon successful clinical FDA Phase III completion - $390,000
|
(1)
|
Service Agreement with Ariel Scientific Innovations Ltd.
|
(1)
|
Service Agreement with Ariel Scientific Innovations Ltd. (continued)
|
(2)
|
Service Agreement with Ariel - Dr. Gadi Turgeman
|
(3)
|
Science Advisory Board Member Consulting Agreements (the " Consulting Agreements")
|
(3)
|
Science Advisory Board Member Consulting Agreements (the " Consulting Agreements") (continued)
|
-
|
Scientific Advisory Board and Consulting Services - Advisor shall provide general consulting services to Company (the "Services") as a member of its Scientific Advisory Board ("SAB"). As a member of the SAB,
Advisor agrees to provide the Services as follows: (a) attending meetings of the Company's SAB; (b) performing the duties of a SAB member at such meetings, as established from time to time by the mutual agreement of the Company and the SAB
members, including without limitation meeting with Company employees, consultants and other SAB members, reviewing goals of the Company and assisting in developing strategies for achieving such goals, and providing advice, support, theories,
techniques and improvements in the Company's scientific research and product development activities; and (c) providing consulting services to Company at its request, including a reasonable amount of informal consultation over the telephone or
otherwise as requested by Company. Advisor's consultation with Company will involve services as scientific, technical and business advisor to the Company and its management with respect to neuronal injuries and neuro degenerative diseases.
|
-
|
SAB Consulting Compensation - the Company shall grant to Advisor the option to purchase certain number of shares of the common stock of the Company as per the stock option award grant. The options are subject to
terms and provisions of the Company's 2016 Stock Option and Stock Award Plan.
|
(4)
|
Business Advisory Board Agreement
|
(5)
|
Investor Relations Agreement
|
(6)
|
Sponsored Research Agreement
|
|
September 30,
|
||||||
|
2020
|
2019
|
|||||
Number of shares vested in period
|
-
|
92,500
|
|||||
Weighted average fair market value per share
|
$
|
-
|
$
|
1.37
|
|||
Stock based compensation recognized
|
$
|
-
|
$
|
126,875
|
(a)
|
Stock Options granted to Science Advisors and Business Advisors (cont’d):
|
(b)
|
Stock Options granted to Employees:
|
|
Three Months ended
|
|
Nine Months ended
|
|
||||||||
|
September 30,
|
|
September 30,
|
|
||||||||
|
2020
|
|
2019
|
|
2020
|
|
2019
|
|
||||
|
|
|
|
|
|
|
|
|
||||
Research and development expenses
|
$
|
19,840
|
|
$
|
38,753
|
|
$
|
117,111
|
|
$
|
126,686
|
|
(c)
|
Stock Options granted to Officers:
|
|
Three Months ended
|
|
Nine Months ended
|
|
||||||||
|
September 30,
|
|
September 30,
|
|
||||||||
|
2020
|
|
2019
|
|
2020
|
|
2019
|
|
||||
General and administrative expenses
|
$
|
-
|
|
$
|
53,307
|
|
$
|
-
|
|
$
|
53,307
|
|
|
|
Measurement date
|
|
|
Dividend yield
|
|
|
0%
|
|
Expected volatility
|
|
114.69 ~ 186.80%
|
|
|
Risk-free interest rate
|
|
1.36% ~ 2.68%
|
|
|
Expected life (years)
|
|
3 ~ 5
|
|
|
Stock Price
|
|
$
|
0.62 ~ 2.80
|
|
Exercise Price
|
|
$
|
0.40 ~ 2.00
|
|
|
September 30, 2020
|
December 31, 2019
|
||||||||||||||
|
Weighted Average
|
Weighted Average
|
||||||||||||||
|
Shares
|
Exercise Price
|
Shares
|
Exercise Price
|
||||||||||||
Outstanding, beginning of period
|
2,515,000
|
$
|
1.97
|
1,615,000
|
$
|
1.97
|
||||||||||
Granted
|
50,000
|
$
|
2
|
950,000
|
$
|
2
|
||||||||||
Exercised
|
-
|
$
|
-
|
-
|
$
|
-
|
||||||||||
Canceled/forfeited
|
(25,000
|
)
|
$
|
2
|
(50,000
|
)
|
$
|
2
|
||||||||
Outstanding, end of period
|
2,540,000
|
$
|
1.987
|
2,515,000
|
$
|
1.987
|
||||||||||
Options exercisable, end of period
|
2,448,344
|
$
|
1.98
|
2,331,669
|
$
|
1.98
|
||||||||||
Options expected to vest, end of period
|
91,666
|
$
|
1.98
|
183,331
|
$
|
1.98
|
||||||||||
Weighted average fair value of options granted
|
$
|
1.60
|
$
|
1.62
|
|
|
Warrants
|
|
|
|
Weighted Average Exercise Price
|
|
||
Outstanding – December 31, 2018
|
|
|
52,000
|
|
(1)
|
|
$
|
0.40
|
|
Granted
|
|
|
70,000
|
|
(3)
|
|
|
1.00
|
|
Canceled/forfeited
|
|
|
-
|
|
|
|
|
-
|
|
Exercised
|
|
|
(52,000
|
)
|
(2)
|
|
|
0.40
|
|
Outstanding – December 31, 2019
|
|
|
70,000
|
|
|
|
|
1.00
|
|
Granted
|
|
|
110,000
|
|
(4)(5)
|
|
|
1.00
|
|
Canceled/forfeited
|
|
|
-
|
|
|
|
|
-
|
|
Exercised
|
|
|
-
|
|
|
|
|
-
|
|
Outstanding – September 30, 2020
|
|
|
180,000
|
|
|
|
$
|
1.00
|
|
|
|
Measurement date
|
|
|
Dividend yield
|
|
|
0%
|
|
Expected volatility
|
|
97.90~172.75%
|
|
|
Risk-free interest rate
|
|
0.16~1.72%
|
|
|
Expected life (years)
|
|
2.71~5.00
|
|
|
Stock Price
|
|
|
$0.25 ~ $0.99
|
|
Exercise Price
|
|
|
$0.40 ~ $1.00
|
|
|
For Three Months Ended
|
|||||||
|
September 30,
|
|||||||
|
2020
|
2019
|
||||||
|
||||||||
Net sales
|
$
|
-
|
$
|
-
|
||||
|
||||||||
Operating expenses:
|
||||||||
Research and development expenses
|
33,441
|
136,080
|
||||||
Professional fees
|
9,010
|
14,928
|
||||||
General and administrative expenses
|
20,977
|
308,735
|
||||||
Total operating expenses
|
63,428
|
459,743
|
||||||
|
||||||||
Income (loss) from operations
|
(63,428
|
)
|
(459,743
|
)
|
||||
|
||||||||
Other income (expense)
|
||||||||
Interest expense
|
(12,460
|
)
|
(1,243
|
)
|
||||
Change in derivative liabilities
|
(78,045
|
)
|
6,828
|
|||||
Total other income (expense)
|
(90,505
|
)
|
5,585
|
|||||
|
||||||||
Net (loss)
|
$
|
(153,933
|
)
|
$
|
(454,158
|
)
|
|
For Nine Months Ended
|
|||||||
|
September 30,
|
|||||||
|
2020
|
2019
|
||||||
|
||||||||
Net sales
|
$
|
-
|
$
|
-
|
||||
|
||||||||
Operating expenses:
|
||||||||
Research and development expenses
|
207,900
|
439,608
|
||||||
Professional fees
|
39,526
|
58,154
|
||||||
General and administrative expenses
|
48,528
|
424,652
|
||||||
Total operating expenses
|
295,954
|
922,414
|
||||||
|
||||||||
Income (loss) from operations
|
(295,954
|
)
|
(922,414
|
)
|
||||
|
||||||||
Other income (expense)
|
||||||||
Interest expense
|
(39,559
|
)
|
(3,159
|
)
|
||||
Change in derivative liabilities
|
(75,283
|
(7,629
|
)
|
|||||
Total other income (expense)
|
(114,842
|
)
|
(10,788
|
)
|
||||
|
||||||||
Net (loss)
|
$
|
(410,796
|
)
|
$
|
(933,202
|
)
|
|
|
September 30,
2020
|
|
|
December 31,
2019
|
|
||
Current Assets
|
|
$
|
94,201
|
|
|
$
|
123,290
|
|
Current Liabilities
|
|
|
792,608
|
|
|
|
631,412
|
|
Working Capital (Deficiency)
|
|
$
|
(698,407
|
)
|
|
$
|
(508,122
|
)
|
|
|
At September 30, 2020
|
|
|
At September 30, 2019
|
|
||
Net cash (used in) operating activities
|
|
$
|
(185,567
|
)
|
|
$
|
(411,366
|
)
|
Net cash provided by investing activities
|
|
|
-
|
|
|
|
-
|
|
Net cash provided by financing activities
|
|
$
|
211,000
|
|
|
$
|
315,000
|
|
Net increase (decrease) in cash during period
|
|
$
|
25,433
|
|
$
|
(96,366
|
)
|
Exhibit Number
|
Exhibit
|
101.INS
|
XBRL INSTANCE DOCUMENT
|
101.SCH
|
XBRL TAXONOMY EXTENSION SCHEMA
|
101.CAL
|
XBRL TAXONOMY EXTENSION CALCULATION LINKBASE
|
101.DEF
|
XBRL TAXONOMY EXTENSION DEFINITION LINKBASE
|
101.LAB
|
XBRL TAXONOMY EXTENSION LABEL LINKBASE
|
101.PRE
|
XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
|
|
QRONS INC.
|
|
|
|
|
|
|
Date: November 16, 2020
|
By:
|
/s/Jonah Meer
|
|
|
|
Jonah Meer
|
|
|
|
Chief Executive Officer and Chief Financial Officer (Principal Executive Officer and Principal Financial and Accounting Officer)
|
|
1 Year Qrons (QB) Chart |
1 Month Qrons (QB) Chart |
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