Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.6.0.2
Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:    
Net loss $ (1,401,501) $ (1,156,655)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation 119 0
Stock-based compensation 265,662 148,037
Noncash interest expense on notes payable 5,529 143,747
Issuance of restricted stock for services 108,000 52,500
Gain on exercise of warrants and conversion of debt 0 (129,461)
Decrease to fair value of derivative 0 (137,146)
(Increase) decrease in:    
Prepaid expenses and other current assets (2,286) (10,041)
Increase (decrease) in:    
Accounts payable (102,644) 36,102
Accrued expenses and other liabilities (178,451) (91,734)
Accrued interest (69,430) 0
Net cash used in operating activities (1,375,002) (1,144,651)
Cash flows from investing activities:    
Purchases of property and equipment (4,293) 0
Net cash used in investing activities (4,293) 0
Cash flows from financing activities:    
Proceeds from exercise of warrants 359,150 0
Payments on note payable (228,594) 0
Net cash provided by financing activities 130,556 0
Net (decrease) in cash (1,248,739) (1,144,651)
Cash, beginning of year 5,036,476 3,960,100
Cash, end of period 3,787,737 2,815,449
Non-cash financing activities    
Conversion of 8% convertible notes and accrued interest to common stock $ 0 $ 325,896