$OTLC
Oncotelic Therapeutics, Inc. Stock $otlc

$otlc Overview Financials Valuation SEC Filings Company Website

2023 Q3 Form 10-Q Financial Statement

#000149315223029461 Filed on August 18, 2023

Income Statement

Concept	2023 Q3	2023 Q2	2019 Q2
Revenue	$70.00K	$0.00	$0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin	$34.30K	$238.8K	$800.0K
YoY Change	-94.22%	61.75%	33.33%
% of Gross Profit
Research & Development	$21.22K		$360.0K
YoY Change	1148.29%		5.26%
% of Gross Profit
Depreciation & Amortization	$0.00	$0.00	$30.00K
YoY Change
% of Gross Profit
Operating Expenses	$55.52K	$6.322M	$1.160M
YoY Change	-90.68%	2366.46%	29.18%
Operating Profit	$14.48K	-$6.322M
YoY Change	-102.43%	2366.46%
Interest Expense	$185.4K	$257.4K	-$30.00K
YoY Change	-69.44%	-76.49%	-111.54%
% of Operating Profit	1280.73%
Other Income/Expense, Net	$26.58K	-$528.1K
YoY Change	-110.07%	-103.25%
Pretax Income	$41.06K	-$6.850M	-$1.190M
YoY Change	-104.78%	-142.89%	85.94%
Income Tax
% Of Pretax Income
Net Earnings	$115.3K	-$6.757M	-$1.190M
YoY Change	-114.82%	-142.2%	85.36%
Net Earnings / Revenue	164.73%
Basic Earnings Per Share	$0.00	-$0.02
Diluted Earnings Per Share	$0.00	-$0.02	-$0.02
COMMON SHARES
Basic Shares Outstanding	398.2M shares	392.9M shares	82.10M
Diluted Shares Outstanding	397.8M shares

Balance Sheet

Concept	2023 Q3	2023 Q2	2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments	$268.0K	$181.9K	$80.00K
YoY Change	5.57%	-54.51%	-95.94%
Cash & Equivalents	$288.0K	$201.9K	$80.00K
Short-Term Investments
Other Short-Term Assets	$78.55K	$80.74K	$100.0K
YoY Change	104.61%	84.72%	0.0%
Inventory
Prepaid Expenses
Receivables	$18.98K	$18.98K
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$365.5K	$281.6K	$190.0K
YoY Change	17.15%	-39.21%	-90.8%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill	$5.988M	$5.988M	$4.900M
YoY Change	-63.0%	-63.0%
Intangibles
YoY Change
Long-Term Investments	$22.64M	$22.64M	$1.770M
YoY Change	0.0%	0.0%
Other Assets
YoY Change
Total Long-Term Assets	$29.73M	$29.73M	$7.470M
YoY Change	-25.53%	-25.53%	22536.36%
TOTAL ASSETS
Total Short-Term Assets	$365.5K	$281.6K	$190.0K
Total Long-Term Assets	$29.73M	$29.73M	$7.470M
Total Assets	$30.10M	$30.01M	$7.660M
YoY Change	-25.2%	-25.69%	264.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$2.011M	$2.026M	$1.580M
YoY Change	12.77%	8.29%	29.4%
Accrued Expenses	$772.2K	$775.7K	$230.0K
YoY Change	-27.74%	-26.98%	-32.35%
Deferred Revenue
YoY Change
Short-Term Debt	$1.465M	$1.080M	$230.0K
YoY Change	-85.47%	302.75%
Long-Term Debt Due	$1.832M
YoY Change
Total Short-Term Liabilities	$17.11M	$18.09M	$2.040M
YoY Change	5.56%	12.28%	30.69%
LONG-TERM LIABILITIES
Long-Term Debt	$899.1K	$0.00	$0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities	$899.1K	$0.00	$0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities	$17.11M	$18.09M	$2.040M
Total Long-Term Liabilities	$899.1K	$0.00	$0.00
Total Liabilities	$17.55M	$17.70M	$2.040M
YoY Change	9.33%	10.41%	30.77%
SHAREHOLDERS EQUITY
Retained Earnings	-$32.80M	-$32.90M
YoY Change	59.22%	65.33%
Common Stock	$3.982M	$3.975M
YoY Change	2.04%	2.98%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$12.55M	$12.32M	$5.620M
YoY Change
Total Liabilities & Shareholders Equity	$30.10M	$30.01M	$7.660M
YoY Change	-25.2%	-25.69%	264.94%

Cashflow Statement

Concept	2023 Q3	2023 Q2	2019 Q2
OPERATING ACTIVITIES
Net Income	$115.3K	-$6.757M	-$1.190M
YoY Change	-114.82%	-142.2%	85.36%
Depreciation, Depletion And Amortization	$0.00	$0.00	$30.00K
YoY Change
Cash From Operating Activities	-$248.4K	-$448.6K	-$460.0K
YoY Change	20.55%	120.82%	-26.98%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities			$180.0K
YoY Change
Cash From Investing Activities			$180.0K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	335.0K	440.0K	790.0K
YoY Change	456.48%	-12.87%	-66.53%
NET CHANGE
Cash From Operating Activities	-248.4K	-448.6K	-460.0K
Cash From Investing Activities			180.0K
Cash From Financing Activities	335.0K	440.0K	790.0K
Net Change In Cash	86.57K	-8.560K	510.0K
YoY Change	-159.34%	-102.84%	-70.52%
FREE CASH FLOW
Cash From Operating Activities	-$248.4K	-$448.6K	-$460.0K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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	dei	Entity File Number EntityFileNumber	000-21990
	dei	Entity Registrant Name EntityRegistrantName	Oncotelic Therapeutics, Inc.
	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	DE
	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	13-3679168
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CY2022Q1	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	6322591	usd
CY2022Q1	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	6322591	usd
CY2022Q2	us-gaap	Adjustments To Additional Paid In Capital Convertible Debt With Conversion Feature AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature	570717	usd
CY2022Q2	us-gaap	Adjustments To Additional Paid In Capital Warrant Issued AdjustmentsToAdditionalPaidInCapitalWarrantIssued	368375	usd
CY2022Q2	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	46822	usd
CY2022Q2	us-gaap	Stock Issued During Period Value Conversion Of Convertible Securities StockIssuedDuringPeriodValueConversionOfConvertibleSecurities	331251	usd
CY2022Q2	us-gaap	Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition	25196	usd
CY2022Q2	OTLC	Adjustment Of Additional Paid In Capital Contribution From Shareholder For Payment Of Liabilities AdjustmentOfAdditionalPaidInCapitalContributionFromShareholderForPaymentOfLiabilities	644463	usd
CY2022Q2	us-gaap	Profit Loss ProfitLoss	15970695	usd
CY2022Q2	us-gaap	Profit Loss ProfitLoss	15970695	usd
CY2022Q2	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	24280110	usd
CY2022Q2	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	24280110	usd
	us-gaap	Profit Loss ProfitLoss	-7456054	usd
	us-gaap	Profit Loss ProfitLoss	10880374	usd
	OTLC	Gain On Derecognition Of Non Financial Asset GainOnDerecognitionOfNonFinancialAsset	16951477	usd
	us-gaap	Goodwill Impairment Loss GoodwillImpairmentLoss	6083146	usd
	us-gaap	Goodwill Impairment Loss GoodwillImpairmentLoss	-0	usd
	us-gaap	Amortization Of Financing Costs And Discounts AmortizationOfFinancingCostsAndDiscounts	251782	usd
	us-gaap	Amortization Of Financing Costs And Discounts AmortizationOfFinancingCostsAndDiscounts	1133270	usd
	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	12841	usd
	OTLC	Warrants Issued Connection With Private Placement WarrantsIssuedConnectionWithPrivatePlacement	2905316	usd
	us-gaap	Share Based Compensation ShareBasedCompensation	322556	usd
	us-gaap	Derivative Gain Loss On Derivative Net DerivativeGainLossOnDerivativeNet	-327594	usd
	us-gaap	Derivative Gain Loss On Derivative Net DerivativeGainLossOnDerivativeNet	-67922	usd
	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	-257810	usd
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	38000	usd
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	4932	usd
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	117289	usd
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	276704	usd
	us-gaap	Increase Decrease In Accounts Payable Related Parties IncreaseDecreaseInAccountsPayableRelatedParties	14663	usd
	us-gaap	Increase Decrease In Accounts Payable Related Parties IncreaseDecreaseInAccountsPayableRelatedParties	-66183	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-699580	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-1165799	usd
	us-gaap	Proceeds From Issuance Of Private Placement ProceedsFromIssuanceOfPrivatePlacement	-50000	usd
	us-gaap	Proceeds From Issuance Of Private Placement ProceedsFromIssuanceOfPrivatePlacement	-25000	usd
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	98627	usd
	us-gaap	Proceeds From Convertible Debt ProceedsFromConvertibleDebt	983175	usd
	us-gaap	Proceeds From Other Short Term Debt ProceedsFromOtherShortTermDebt	690000	usd
	us-gaap	Proceeds From Other Short Term Debt ProceedsFromOtherShortTermDebt	500000	usd
	us-gaap	Repayments Of Notes Payable RepaymentsOfNotesPayable	500000	usd
	us-gaap	Repayments Of Related Party Debt RepaymentsOfRelatedPartyDebt	60000	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	640000	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	996802	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-59580	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-168997	usd
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	261452	usd
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	588769	usd
CY2023Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	201872	usd
CY2022Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	419772	usd
	us-gaap	Interest Paid Net InterestPaidNet	197458	usd
	us-gaap	Interest Paid Net InterestPaidNet	328181	usd
	OTLC	Warrants Issued In Connection With Private Placement Debt WarrantsIssuedInConnectionWithPrivatePlacementDebt	2905316	usd
	OTLC	Contribution From Shareholder For Payment Of Liabilities ContributionFromShareholderForPaymentOfLiabilities	644463	usd
	us-gaap	Stock Issued1 StockIssued1	397912	usd
	us-gaap	Stock Issued1 StockIssued1	650001	usd
	us-gaap	Debt Instrument Convertible Beneficial Conversion Feature DebtInstrumentConvertibleBeneficialConversionFeature	570717	usd
	OTLC	Adoption Of Accounting Standards Update Net AdoptionOfAccountingStandardsUpdateNet	-209323	usd
CY2022	OTLC	Warrants Issuance Cost WarrantsIssuanceCost	2900000	usd
CY2023Q2	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-32900000	usd
CY2023Q2	OTLC	Working Capital Deficit WorkingCapitalDeficit	-17800000	usd
CY2023Q2	us-gaap	Business Combination Contingent Consideration Liability Current BusinessCombinationContingentConsiderationLiabilityCurrent	2600000	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-700000	usd
	us-gaap	Use Of Estimates UseOfEstimates	<p id="xdx_843_eus-gaap--UseOfEstimates_zUJYQ87JhKYe" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_865_zySsnOPEMzOk">Use of Estimates</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, equity-based transactions and disclosure of contingent liabilities at the date of the financial statements and revenues and expense during the reporting period. Actual results could materially differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company believes the following critical accounting policies affect its more significant judgments and estimates used in the preparation of the financial statements. Significant estimates include the valuation of goodwill and intangible assets for impairment, deferred tax asset and valuation allowance, and fair value of financial instruments.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q2	us-gaap	Interest Expense Debt Excluding Amortization InterestExpenseDebtExcludingAmortization	33000	usd
	us-gaap	Interest Expense Debt Excluding Amortization InterestExpenseDebtExcludingAmortization	112600	usd
CY2023Q2	us-gaap	Interest Payable Current InterestPayableCurrent	4530	usd
CY2022Q4	us-gaap	Interest Payable Current InterestPayableCurrent	30000	usd
CY2023Q2	OTLC	Equity Securities Initial Book Value EquitySecuritiesInitialBookValue	22640519	usd
CY2023Q2	us-gaap	Equity Securities Fv Ni Current And Noncurrent EquitySecuritiesFvNiCurrentAndNoncurrent	22640519	usd
CY2022Q4	us-gaap	Equity Securities Fv Ni Current And Noncurrent EquitySecuritiesFvNiCurrentAndNoncurrent	22640519	usd
CY2022	OTLC	Contribution At Cost Basis ContributionAtCostBasis	5689042	usd
CY2022	OTLC	Gain On Derecognition Of Nonfinancial Asset Net Of Goodwill And Intangibles GainOnDerecognitionOfNonfinancialAssetNetOfGoodwillAndIntangibles	16591477	usd
CY2023Q2	us-gaap	Equity Securities Fv Ni Current And Noncurrent EquitySecuritiesFvNiCurrentAndNoncurrent	22640519	usd
CY2022Q4	us-gaap	Equity Securities Fv Ni Current And Noncurrent EquitySecuritiesFvNiCurrentAndNoncurrent	22640519	usd
CY2022Q4	us-gaap	Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs	198140	usd
CY2021Q4	us-gaap	Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs	340290	usd
	us-gaap	Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Period Increase Decrease FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationPeriodIncreaseDecrease	327594	usd
	us-gaap	Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Period Increase Decrease FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationPeriodIncreaseDecrease	67922	usd
CY2023Q2	us-gaap	Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs	525734	usd
CY2022Q2	us-gaap	Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs	408212	usd
	us-gaap	Amortization Of Debt Discount Premium AmortizationOfDebtDiscountPremium	0	usd
	us-gaap	Amortization Of Debt Discount Premium AmortizationOfDebtDiscountPremium	657400	usd
	us-gaap	Debt Conversion Converted Instrument Amount1 DebtConversionConvertedInstrumentAmount1	40000	usd
CY2023Q2	us-gaap	Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1 SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1	0.21
CY2023Q2	us-gaap	Impairment Of Intangible Assets Excluding Goodwill ImpairmentOfIntangibleAssetsExcludingGoodwill	0	usd
CY2022Q2	us-gaap	Impairment Of Intangible Assets Excluding Goodwill ImpairmentOfIntangibleAssetsExcludingGoodwill	0	usd
	us-gaap	Impairment Of Intangible Assets Excluding Goodwill ImpairmentOfIntangibleAssetsExcludingGoodwill	0	usd
	us-gaap	Impairment Of Intangible Assets Excluding Goodwill ImpairmentOfIntangibleAssetsExcludingGoodwill	0	usd
CY2022Q2	us-gaap	Gain Loss On Disposition Of Intangible Assets GainLossOnDispositionOfIntangibleAssets	800000	usd
	us-gaap	Gain Loss On Disposition Of Intangible Assets GainLossOnDispositionOfIntangibleAssets	800000	usd
	us-gaap	Goodwill Impairment Loss GoodwillImpairmentLoss	6100000	usd
	us-gaap	Goodwill Impairment Loss GoodwillImpairmentLoss	0	usd
CY2022	us-gaap	Goodwill Impairment Loss GoodwillImpairmentLoss	4100000	usd
	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	12841	usd
CY2023Q2	OTLC	Finite Lived Intangible Assets Derecognition Upon Sale Of Asset FiniteLivedIntangibleAssetsDerecognitionUponSaleOfAsset	809000	usd
CY2022Q2	OTLC	Finite Lived Intangible Assets Derecognition Upon Sale Of Asset FiniteLivedIntangibleAssetsDerecognitionUponSaleOfAsset	809000	usd
CY2023Q2	us-gaap	Property Plant And Equipment Other PropertyPlantAndEquipmentOther	1101760	usd
CY2022Q4	us-gaap	Property Plant And Equipment Other PropertyPlantAndEquipmentOther	1101760	usd
CY2022Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	0.30
CY2023Q2	us-gaap	Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions	25690261	shares
	us-gaap	Variable Interest Entity Ownership Percentage VariableInterestEntityOwnershipPercentage	0.29	pure
CY2022	us-gaap	Variable Interest Entity Ownership Percentage VariableInterestEntityOwnershipPercentage	0.29	pure
CY2023Q2	us-gaap	Interest Expense Debt Excluding Amortization InterestExpenseDebtExcludingAmortization	8600	usd
	us-gaap	Interest Expense Debt Excluding Amortization InterestExpenseDebtExcludingAmortization	18300	usd
	us-gaap	Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2 SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2	P8Y
CY2019Q2	us-gaap	Goodwill Goodwill	4900000	usd
CY2019Q2	us-gaap	Goodwill Goodwill	4900000	usd
CY2022	us-gaap	Goodwill Impairment Loss GoodwillImpairmentLoss	4100000	usd
CY2022Q4	us-gaap	Goodwill Goodwill	12071376	usd
CY2021Q4	us-gaap	Goodwill Goodwill	21062455	usd
CY2022	OTLC	Goodwill Derecognition Upon Recording Of Gain On Nonfinancial Asset GoodwillDerecognitionUponRecordingOfGainOnNonfinancialAsset	-4880000	usd
	us-gaap	Goodwill Impairment Loss GoodwillImpairmentLoss	6083146	usd
CY2022	us-gaap	Goodwill Impairment Loss GoodwillImpairmentLoss	4111079	usd
CY2023Q2	us-gaap	Goodwill Goodwill	5988230	usd
CY2022Q4	us-gaap	Goodwill Goodwill	12071376	usd
CY2023Q2	us-gaap	Goodwill Impairment Loss GoodwillImpairmentLoss	6100000	usd
	us-gaap	Goodwill Impairment Loss GoodwillImpairmentLoss	6100000	usd
CY2022Q4	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	1010180	usd
CY2022Q4	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	201180	usd
CY2022Q4	OTLC	Finite Lived Intangible Assets Derecognition Upon Transfer Of Asset FiniteLivedIntangibleAssetsDerecognitionUponTransferOfAsset	-809000	usd
CY2023Q2	us-gaap	Accounts Payable Current And Noncurrent AccountsPayableCurrentAndNoncurrent	1682943	usd
CY2022Q4	us-gaap	Accounts Payable Current And Noncurrent AccountsPayableCurrentAndNoncurrent	1735764	usd
CY2023Q2	us-gaap	Accrued Liabilities Current And Noncurrent AccruedLiabilitiesCurrentAndNoncurrent	775646	usd
CY2022Q4	us-gaap	Accrued Liabilities Current And Noncurrent AccruedLiabilitiesCurrentAndNoncurrent	775100	usd
CY2023Q2	us-gaap	Accounts Payable And Accrued Liabilities Current And Noncurrent AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent	2458589	usd
CY2022Q4	us-gaap	Accounts Payable And Accrued Liabilities Current And Noncurrent AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent	2510864	usd
CY2023Q2	us-gaap	Other Short Term Borrowings OtherShortTermBorrowings	1080050	usd
CY2022Q4	us-gaap	Other Short Term Borrowings OtherShortTermBorrowings	390050	usd
CY2023Q2	us-gaap	Interest Payable Current And Noncurrent InterestPayableCurrentAndNoncurrent	58791	usd
CY2023Q2	OTLC	Debentures Notes And Other Debt DebenturesNotesAndOtherDebt	12133821	usd
CY2022Q4	OTLC	Debentures Notes And Other Debt DebenturesNotesAndOtherDebt	11256971	usd
	us-gaap	Debt Instrument Increase Accrued Interest DebtInstrumentIncreaseAccruedInterest	1010175	usd
CY2022	us-gaap	Debt Instrument Increase Accrued Interest DebtInstrumentIncreaseAccruedInterest	988923	usd
CY2023Q2	us-gaap	Convertible Notes Payable Current ConvertibleNotesPayableCurrent	37030	usd
CY2022Q4	us-gaap	Convertible Notes Payable Current ConvertibleNotesPayableCurrent	339687	usd
CY2023Q2	us-gaap	Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet	500000	usd
CY2022Q4	us-gaap	Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet	500000	usd
CY2023Q2	us-gaap	Debt Instrument Unamortized Discount DebtInstrumentUnamortizedDiscount	500000	usd
CY2022Q4	us-gaap	Debt Instrument Unamortized Discount DebtInstrumentUnamortizedDiscount	500000	usd
CY2023Q2	us-gaap	Convertible Long Term Notes Payable ConvertibleLongTermNotesPayable	37030	usd
CY2022Q4	us-gaap	Convertible Long Term Notes Payable ConvertibleLongTermNotesPayable	339687	usd
CY2023Q2	us-gaap	Short Term Borrowings ShortTermBorrowings	1080050	usd
CY2022Q4	us-gaap	Short Term Borrowings ShortTermBorrowings	390050	usd
	OTLC	Private Placement And Financing Disclosure Textblock PrivatePlacementAndFinancingDisclosureTextblock	<p id="xdx_805_ecustom--PrivatePlacementAndFinancingDisclosureTextblock_zVEUC186h1k6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>NOTE 7 - <span id="xdx_828_z6KhbmY86JN7">PRIVATE PLACEMENT AND JH DARBIE FINANCING</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">During the period from July 2020 to March 31, 2021, the Company entered into various subscription agreements with certain accredited investors, including the CEO, pursuant to the JH Darbie Financing, whereby the Company issued and sold a total of <span id="xdx_903_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20200701__20210331__us-gaap--TypeOfArrangementAxis__custom--JHDarbiePlacementAgreementMember__srt--TitleOfIndividualAxis__custom--AccreditedInvestorsMember_zoGevqzsIXZ7" title="Sale of transaction shares">100</span> Units, for total gross proceeds of approximately $<span id="xdx_90C_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_pn6n6_c20200701__20210331__us-gaap--TypeOfArrangementAxis__custom--JHDarbiePlacementAgreementMember__srt--TitleOfIndividualAxis__custom--AccreditedInvestorsMember_z58J3TinhED2" title="Proceeds from private placement">5</span> million, pursuant to the JH Darbie Placement Agreement, with each Unit consisting of:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">■</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20200701__20210331__us-gaap--TypeOfArrangementAxis__custom--JHDarbiePlacementAgreementMember__dei--LegalEntityAxis__custom--EdgepointAIIncMember_zQdTcq8IEkJf" title="Number of common stock issued">25,000</span> shares of Edge Point Common stock for a price of $<span id="xdx_90E_eus-gaap--SharesIssuedPricePerShare_iI_c20210331__us-gaap--TypeOfArrangementAxis__custom--JHDarbiePlacementAgreementMember__dei--LegalEntityAxis__custom--EdgepointAIIncMember_z2ZNvWPvqB6" title="Shares issued price per share">1.00</span> per share of Edge Point Common stock.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">■</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">One convertible promissory note, convertible up to <span id="xdx_901_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_pid_c20200701__20210331__us-gaap--DebtInstrumentAxis__custom--OneConvertiblePromissoryNoteMember__us-gaap--TypeOfArrangementAxis__custom--JHDarbiePlacementAgreementMember__dei--LegalEntityAxis__custom--EdgepointAIIncMember_zHTLXgrHwpe4" title="Number of convertible promissory note converted shares">25,000</span> shares of Edge Point Common stock, at a conversion price of $<span id="xdx_907_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_pid_c20210331__us-gaap--DebtInstrumentAxis__custom--OneConvertiblePromissoryNoteMember__us-gaap--TypeOfArrangementAxis__custom--JHDarbiePlacementAgreementMember__dei--LegalEntityAxis__custom--EdgepointAIIncMember_zq0XKq4mspEe" title="Conversion price">1.00</span> per share or up to <span id="xdx_90A_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_pid_c20200701__20210331__us-gaap--DebtInstrumentAxis__custom--OneConvertiblePromissoryNoteMember__dei--LegalEntityAxis__custom--EdgepointAIIncMember__us-gaap--TypeOfArrangementAxis__custom--JHDarbiePlacementAgreementMember__srt--RangeAxis__srt--MaximumMember_zTP80kRRAv32" title="Number of convertible promissory note converted shares">138,889</span> shares of the Company’s common stock, at a conversion price of $<span id="xdx_909_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_pid_c20210331__us-gaap--DebtInstrumentAxis__custom--OneConvertiblePromissoryNoteMember__dei--LegalEntityAxis__custom--EdgepointAIIncMember__us-gaap--TypeOfArrangementAxis__custom--JHDarbiePlacementAgreementMember__srt--RangeAxis__srt--MaximumMember_z3sySu7WpOif" title="Conversion price">0.18</span> per share.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">■</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><span id="xdx_908_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_c20210331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__dei--LegalEntityAxis__custom--EdgepointAIIncMember__us-gaap--TypeOfArrangementAxis__custom--JHDarbiePlacementAgreementMember_zIlLl5SfbmQ3" title="Warrants to purchase common stock">50,000</span> warrants to purchase an equivalent number of shares of Edge Point Common stock at $<span id="xdx_905_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20210331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__dei--LegalEntityAxis__custom--EdgepointAIIncMember__us-gaap--TypeOfArrangementAxis__custom--JHDarbiePlacementAgreementMember_zy19FC8JfQo7" title="Warrants exercise price">1.00</span> per share and an equivalent number of shares of the Company’s common stock at $<span id="xdx_907_eus-gaap--SharesIssuedPricePerShare_iI_c20210331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__dei--LegalEntityAxis__custom--EdgepointAIIncMember__us-gaap--TypeOfArrangementAxis__custom--JHDarbiePlacementAgreementMember_zO1XDIV2tN17" title="Shares issued price per share">0.20</span> per share with a three-year expiration date. Either the Edgepoint or the Company’s warrants would be exercised.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_894_ecustom--ScheduleOfFundsReceivedUnderTheSubscriptionAgreementFromThePrivatePlacementNetOfDebtDiscount_z53oInsdbeFa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">As June 30, 2023 and December 31, 2022 funds received under the JH Darbie Financing, net of debt discount, consist of the following amounts:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><span id="xdx_8BB_zfxDE1tPsjV5" style="display: none">SCHEDULE OF FUNDS RECEIVED UNDER THE SUBSCRIPTION AGREEMENT</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="color: Black; text-align: center"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_498_20230630_zu5Rwf7Kfc2g" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>June 30, 2023</b></span></p></td><td style="padding-bottom: 1.5pt; color: Black"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_491_20221231_zEZceGLYrW8f" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>December 31, 2022</b></span></p></td><td style="padding-bottom: 1.5pt; color: Black"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-decoration: underline; color: Black; font-weight: bold; text-align: left">Convertible promissory notes</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ConvertibleDebt_iI_hus-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementsMember__srt--TitleOfIndividualAxis__custom--AccreditedInvestorsMember_zdCwK2tdvBIf" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; color: Black; text-align: left">Subscription agreements - accredited investors</td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td style="width: 16%; color: Black; text-align: right">2,397,238</td><td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td style="width: 16%; color: Black; text-align: right">2,441,471</td><td style="width: 1%; color: Black; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ConvertibleDebt_iI_hus-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementsMember__srt--TitleOfIndividualAxis__custom--RelatedPartyMember_zWLCoXJOlwul" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; text-align: left; padding-bottom: 1.5pt">Subscription agreements – related party</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">125,000</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">124,547</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--ConvertibleDebt_iI_hus-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementsMember_zpc44JEtX8Kg" style="vertical-align: bottom; background-color: White"> <td style="color: Black; text-align: left; padding-bottom: 2.5pt">Total convertible promissory notes</td><td style="color: Black; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; color: Black; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; color: Black; text-align: right">2,522,238</td><td style="padding-bottom: 2.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; color: Black; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; color: Black; text-align: right">2,566,018</td><td style="padding-bottom: 2.5pt; color: Black; text-align: left"> </td></tr> </table> <p id="xdx_8AB_zHZ2rdMp5ASj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The Company incurred approximately $<span id="xdx_905_eus-gaap--DeferredFinanceCostsNet_iI_pn4n6_c20230630__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zL7DeaV1hNX8" title="Issuance cost">0.64</span> million of issuance costs, including legal costs of approximately $<span id="xdx_903_eus-gaap--LegalFees_pp0p0_c20230101__20230630__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zf53S4FzWf7i" title="Legal costs">39,000</span>, that are incremental costs directly related to the issuance of the various instruments bundled in the offering.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Concurrently with the sale of the Units, JH Darbie was granted a warrant, exercisable over a five-year period, to purchase <span id="xdx_902_ecustom--PercentageOfUnitsGranted_dp_uPure_c20230101__20230630__us-gaap--TypeOfArrangementAxis__custom--JHDarbiePlacementAgreementMember_zrdfrVfpq55i" title="Percentage of units granted">10</span>% of the number of Units sold in the JH Darbie Financing. As such, the Company granted <span id="xdx_902_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20230101__20230630__us-gaap--TypeOfArrangementAxis__custom--JHDarbiePlacementAgreementMember_zdLT9YIiMGqb" title="Issued in transaction">10 </span>Units to JH Darbie pursuant to the JH Darbie Placement Agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The terms of convertible notes are summarized as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">■</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Term: Through March 31, 2022, extended further to March 31, 2023</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">■</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Coupon: <span id="xdx_907_eus-gaap--DebtInstrumentInterestRateDuringPeriod_pid_dp_uPure_c20200701__20210331__us-gaap--TypeOfArrangementAxis__custom--JHDarbiePlacementAgreementMember_zsnVfMZHga7" title="Interest rate">16</span>%.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">■</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Convertible at the option of the holder at any time in the Company’s Common Stock or Edgepoint Common Stock.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">■</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The conversion price is initially set at $<span id="xdx_909_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_pid_c20210331__dei--LegalEntityAxis__custom--EdgepointAIIncMember__us-gaap--TypeOfArrangementAxis__custom--JHDarbiePlacementAgreementMember__srt--RangeAxis__srt--MaximumMember_zM6ZV3quI1Db" title="Conversion price">0.18</span> per share for the Company’s Common Stock or $<span id="xdx_903_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_pid_c20210331__us-gaap--TypeOfArrangementAxis__custom--JHDarbiePlacementAgreementMember__dei--LegalEntityAxis__custom--EdgepointAIIncMember_zD1wwlPmoRM9" title="Conversion price">1.00</span> for Edgepoint Common Stock, subject to adjustment.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">For more information on the private placement, refer to our 2022 Annual Report on Form 10-K filed with the SEC on April 19, 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">In February 2022, the Company and all except one of the Investors agreed to extend the maturity date of the Notes from March 31, 2022, to March 31, 2023. In consideration for the extension of the Notes, the Company issued to the Investors an aggregate of <span id="xdx_901_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20220228__srt--TitleOfIndividualAxis__us-gaap--InvestorMember_zKJlydbTkV0h" title="Number of warrant issued">33,000,066</span> Oncotelic Warrants at a price of $<span id="xdx_902_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20220228__srt--TitleOfIndividualAxis__us-gaap--InvestorMember_zfIjt53E2AVh" title="Warrants exercise price">0.15</span> per share of Company’s Common Stock. Each Investor will be entitled to receive <span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_c20220228__srt--TitleOfIndividualAxis__us-gaap--InvestorMember_zbxQ64qHjkh6" title="Number of warrants for each warrant purchased">333,334</span> Oncotelic Warrants for each Unit purchased. <span id="xdx_903_eus-gaap--ClassOfWarrantOrRightReasonForIssuingToNonemployees_c20220201__20220228__srt--TitleOfIndividualAxis__us-gaap--InvestorMember_zmWHlSwJ1bCh" title="Warrants to purchase common stock, description">Upon the amendment of the terms of the convertible notes under the private placement memorandum. As incentive to extend the maturity date, approximately 33 million warrants were issued to the Unit Holders who participated in the amendment, The Company repaid the 1-unit holder who did not participate in the amendment shortly after March 31, 2022. During the six months ended June 30, 2023, the Company partially repaid one unit holder,who will not be participating in the new JH Darbie financing.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The Company recognized amortization expense related to the debt discount and debt issuance costs of approximately $<span id="xdx_90D_eus-gaap--AmortizationOfDebtDiscountPremium_c20230101__20230630__us-gaap--IncomeStatementLocationAxis__us-gaap--InterestExpenseMember_zlcPS9Wpy2G" title="Amortization of debt discount and debt issuance costs">8,400</span> and approximately $<span id="xdx_90D_eus-gaap--AmortizationOfDebtDiscountPremium_c20220101__20220630__us-gaap--IncomeStatementLocationAxis__us-gaap--InterestExpenseMember_z9IrKtDnADj4" title="Amortization of debt discount and debt issuance costs">52,000</span> for the six months ended June 30, 2023 and 2022, respectively, which is included in interest expense in the statements of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">As of June 30, 2023, the JH Darbie PPM Notes are in default as these notes were to be paid at the end of March 2023. The Company is in discussion with JH Darbie to close out these notes. The Company and JH Darbie have started a new private placement financing and which will be used, partially, to have the earlier PPM participants to roll over their investments into the new private placement. In this connection, 40 unit holders, comprising 15 investors, have already converted their notes into the new private placement after the close of this quarter. The Company is still working with the remaining prior JH Darbie financing investors to roll over their promissory notes into the new private placement. While the Company is fairly confident most, if not all the prior PPM investors, will roll over their debt into the new private placement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></p>
	OTLC	Schedule Of Funds Received Under The Subscription Agreement From The Private Placement Net Of Debt Discount ScheduleOfFundsReceivedUnderTheSubscriptionAgreementFromThePrivatePlacementNetOfDebtDiscount	<p id="xdx_894_ecustom--ScheduleOfFundsReceivedUnderTheSubscriptionAgreementFromThePrivatePlacementNetOfDebtDiscount_z53oInsdbeFa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">As June 30, 2023 and December 31, 2022 funds received under the JH Darbie Financing, net of debt discount, consist of the following amounts:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><span id="xdx_8BB_zfxDE1tPsjV5" style="display: none">SCHEDULE OF FUNDS RECEIVED UNDER THE SUBSCRIPTION AGREEMENT</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="color: Black; text-align: center"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_498_20230630_zu5Rwf7Kfc2g" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>June 30, 2023</b></span></p></td><td style="padding-bottom: 1.5pt; color: Black"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_491_20221231_zEZceGLYrW8f" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>December 31, 2022</b></span></p></td><td style="padding-bottom: 1.5pt; color: Black"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-decoration: underline; color: Black; font-weight: bold; text-align: left">Convertible promissory notes</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ConvertibleDebt_iI_hus-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementsMember__srt--TitleOfIndividualAxis__custom--AccreditedInvestorsMember_zdCwK2tdvBIf" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; color: Black; text-align: left">Subscription agreements - accredited investors</td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td style="width: 16%; color: Black; text-align: right">2,397,238</td><td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td style="width: 16%; color: Black; text-align: right">2,441,471</td><td style="width: 1%; color: Black; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ConvertibleDebt_iI_hus-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementsMember__srt--TitleOfIndividualAxis__custom--RelatedPartyMember_zWLCoXJOlwul" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; text-align: left; padding-bottom: 1.5pt">Subscription agreements – related party</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">125,000</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">124,547</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--ConvertibleDebt_iI_hus-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementsMember_zpc44JEtX8Kg" style="vertical-align: bottom; background-color: White"> <td style="color: Black; text-align: left; padding-bottom: 2.5pt">Total convertible promissory notes</td><td style="color: Black; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; color: Black; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; color: Black; text-align: right">2,522,238</td><td style="padding-bottom: 2.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; color: Black; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; color: Black; text-align: right">2,566,018</td><td style="padding-bottom: 2.5pt; color: Black; text-align: left"> </td></tr> </table>
CY2022Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	25690261	shares
CY2022Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	0.23
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod	1512500	shares
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice	0.46
CY2023Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	24177761	shares
CY2023Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	0.21
CY2021Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	16592620	shares
CY2021Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	0.30
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod	2359	shares
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice	11.88
CY2022Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	16590261	shares
CY2023Q2	us-gaap	Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions	13985261	shares
	OTLC	Unamortized Share Based Compensation UnamortizedShareBasedCompensation	0	usd
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Description ShareBasedCompensationArrangementByShareBasedPaymentAwardDescription	Of the approximately 14 million unvested stock options, the vesting criteria for 7.3 million options is still being evaluated as on the date of this Report, as those options are subject to individual milestone achievements
	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	0	usd
	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	50000	usd
CY2022Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber	81072855	shares
CY2022Q4	OTLC	Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice	0.18
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeitures And Expirations ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations	42737500	shares
	OTLC	Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeitures And Expirations In Period Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice	0.2
CY2023Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber	38335355	shares
CY2023Q2	OTLC	Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice	0.16
CY2021Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber	53314424	shares
CY2021Q4	OTLC	Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice	0.20
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted	34375066	shares
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeitures And Expirations ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations	9615385	shares
	OTLC	Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeitures And Expirations In Period Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice	0.13
CY2022Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber	82322855	shares
CY2022Q2	OTLC	Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice	0.18
CY2023Q2	us-gaap	Class Of Warrant Or Right Outstanding ClassOfWarrantOrRightOutstanding	38335355	shares
CY2023Q2	us-gaap	Warrants And Rights Outstanding Term WarrantsAndRightsOutstandingTerm	P0Y9M
CY2023Q2	OTLC	Class Of Warrant Weighted Average Exercise Price Of Warrants ClassOfWarrantWeightedAverageExercisePriceOfWarrants	0.15
CY2023Q2	us-gaap	Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight	38335355	shares
	us-gaap	Operating Loss Carryforwards Limitations On Use OperatingLossCarryforwardsLimitationsOnUse	Portions of these carryforwards will expire through 2038,
	us-gaap	Litigation Settlement Amount Awarded To Other Party LitigationSettlementAmountAwardedToOtherParty	20000	usd

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0001493152-23-029461-index.html	Edgar Link	pending
0001493152-23-029461.txt	Edgar Link	pending
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ex32-1.htm	Edgar Link	pending
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Financial_Report.xlsx	Edgar Link	pending
form10-q.htm	Edgar Link	pending
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otlc-20230630.xsd	Edgar Link	pending
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otlc-20230630_cal.xml	Edgar Link	unprocessable
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form10-q_htm.xml	Edgar Link	completed
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report.css	Edgar Link	pending
Show.js	Edgar Link	pending

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2023 Q3 Form 10-Q Financial Statement

#000149315223029461 Filed on August 18, 2023

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$OTLC Oncotelic Therapeutics, Inc. Stock $otlc

2023 Q3 Form 10-Q Financial Statement

#000149315223029461 Filed on August 18, 2023

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$OTLC
Oncotelic Therapeutics, Inc. Stock $otlc