Management Statement Regarding Going Concern	9 Months Ended
Sep. 30, 2020
Notes to Financial Statements
Management Statement Regarding Going Concern	We currently are not generating revenue from operations, and do not anticipate generating meaningful revenue from operations or otherwise in the short-term. We have historically financed our operations primarily through issuances of equity and the proceeds from the issuance of promissory notes. In the past, we also provided for our cash needs by issuing our common stock, par value $0.01 per share ("Common Stock"), options and warrants for certain operating costs, including consulting and professional fees, as well as divesting its minority equity interests and equity-linked investments. In addition, in the fiscal year ended 2018, we received cash payments as consideration for the sale, assignment and lease-back of certain of the Company's assets pertaining to the Diagnostic Business (the "Purchased Assets") to Preprogen LLC ("Preprogen") pursuant to an Asset Purchase Agreement dated December 14, 2017 (the "Preprogen Agreement"), Patent Assignment Agreement dated December 14, 2017, Trademark Assignment Agreement dated December 14, 2017, and Intellectual Property License Agreement dated December 14, 2017, by and between the Company and Preprogen (collectively, the "Preprogen Transaction"). Our history of operating losses, limited cash resources and the absence of an operating plan necessary to capitalize on our assets raise substantial doubt about our ability to continue as a going concern absent a strengthening of our cash position. Management is currently pursuing various funding options, including seeking debt or equity financing, licensing opportunities and the sale of certain investment holdings, as well as a strategic, merger or other transaction to obtain additional funding to continue the development of, and to successfully commercialize, our products. There can be no assurance that the Company will be successful in its efforts. Should we be unable to obtain adequate financing or generate sufficient revenue in the future, the Company’s business, result of operations, liquidity and financial condition would be materially and adversely harmed, and we will be unable to continue as a going concern. There can be no assurance that, assuming we are able to strengthen its cash position, we will achieve sufficient revenue or profitable operations to continue as a going concern.

Management Statement Regarding Going Concern

9 Months Ended

Sep. 30, 2020

Management Statement Regarding Going Concern

We currently are not generating revenue from operations, and do not anticipate generating meaningful revenue from operations or otherwise in the short-term. We have historically financed our operations primarily through issuances of equity and the proceeds from the issuance of promissory notes. In the past, we also provided for our cash needs by issuing our common stock, par value $0.01 per share ("Common Stock"), options and warrants for certain operating costs, including consulting and professional fees, as well as divesting its minority equity interests and equity-linked investments. In addition, in the fiscal year ended 2018, we received cash payments as consideration for the sale, assignment and lease-back of certain of the Company's assets pertaining to the Diagnostic Business (the "Purchased Assets") to Preprogen LLC ("Preprogen") pursuant to an Asset Purchase Agreement dated December 14, 2017 (the "Preprogen Agreement"), Patent Assignment Agreement dated December 14, 2017, Trademark Assignment Agreement dated December 14, 2017, and Intellectual Property License Agreement dated December 14, 2017, by and between the Company and Preprogen (collectively, the "Preprogen Transaction").

Our history of operating losses, limited cash resources and the absence of an operating plan necessary to capitalize on our assets raise substantial doubt about our ability to continue as a going concern absent a strengthening of our cash position. Management is currently pursuing various funding options, including seeking debt or equity financing, licensing opportunities and the sale of certain investment holdings, as well as a strategic, merger or other transaction to obtain additional funding to continue the development of, and to successfully commercialize, our products. There can be no assurance that the Company will be successful in its efforts. Should we be unable to obtain adequate financing or generate sufficient revenue in the future, the Company’s business, result of operations, liquidity and financial condition would be materially and adversely harmed, and we will be unable to continue as a going concern.

There can be no assurance that, assuming we are able to strengthen its cash position, we will achieve sufficient revenue or profitable operations to continue as a going concern.

QUANTRX BIOMEDICAL CORP 10-Q