Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.7.0.1
Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net loss $ (3,270,932) $ (2,409,711)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation 477 0
Stock-based compensation 1,013,367 358,330
Noncash interest expense on notes payable 22,118 210,569
Issuance of restricted stock for services 162,000 52,500
Gain on conversion of debt 0 (142,964)
Decrease to fair value of derivative (361,506) (192,128)
(Increase) decrease in:    
Prepaid expenses and other current assets (237,446) (47,200)
Increase (decrease) in:    
Accounts payable (247,825) (96,146)
Accrued expenses and other liabilities (157,471) (64,101)
Accrued interest (331,000) 0
Net cash used in operating activities (3,408,218) (2,330,851)
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 issuance of common stock and warrants 6,068,686 0
Proceeds from exercise of warrants 537,659 40,000
Payments on note payable (1,000,000) 0
Net cash provided by financing activities 5,606,345 40,000
Net increase (decrease) in cash 2,193,834 (2,290,851)
Cash, beginning of year 5,036,476 3,960,100
Cash, end of period 7,230,310 1,669,249
Non-cash financing activities    
Conversion of 8% convertible notes and accrued interest to common stock 0 536,278
Exercise of stock options - cashless 106,666 0
Financing Costs on issuance of common stock and warrants 93,687 0
Warrant derivative liability 2,996,110 0
Cash paid for    
Interest on note $ 361,268 $ 0