Financials

v3.7.0.1
Consolidated Balance Sheets - USD ($)
Jun. 30, 2017
Sep. 30, 2016
Current assets:    
Cash $ 6,168,501 $ 5,036,476
Prepaid expenses and other current assets 151,292 107,784
Total current assets 6,319,793 5,144,260
Long-term assets:    
Property and equipment, net 3,458 0
Total long-term assets 3,458 0
Total assets 6,323,251 5,144,260
Current liabilities:    
Accounts payable 206,134 374,896
Accrued expenses and other liabilities 164,184 299,487
Accrued interest 0 304,770
Note payable, net of unamortized discount 0 899,627
Total current liabilities 370,318 1,878,780
Long-term liabilities:    
Long-term derivative liability 2,569,278 0
Note payable, net of unamortized discount and current portion 0 78,255
Accrued interest, net of current portion 0 26,230
Total long-term liabilities 2,569,278 104,485
Total liabilities 2,939,596 1,983,265
Commitments and contingencies
Stockholders’ equity:    
Common stock, $0.001 par value, 300,000,000 shares authorized, 150,769,042 and 136,657,075 shares issued and outstanding as of June 30, 2017 and September 30, 2016, respectively 147,019 134,432
Additional paid-in capital 29,997,900 24,741,153
Accumulated deficit (26,761,264) (21,714,590)
Total stockholders’ equity 3,383,655 3,160,995
Total liabilities and stockholders' equity $ 6,323,251 $ 5,144,260
v3.7.0.1
Consolidated Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues $ 0 $ 0 $ 0 $ 0
Operating expenses:        
General and administrative expenses 1,306,435 1,294,050 3,827,283 3,027,995
Research and development expenses 534,631 438,627 1,593,838 1,238,915
Total operating expenses 1,841,066 1,732,677 5,421,121 4,266,910
Operating loss (1,841,066) (1,732,677) (5,421,121) (4,266,910)
Other income (expense):        
Decrease to fair value of derivative 65,326 0 426,832 192,128
Interest expense 0 (33,104) (52,385) (243,673)
Gain on conversion of debt 0 0 0 142,964
Total other income (expense) 65,326 (33,104) 374,447 91,419
Net loss $ (1,775,740) $ (1,765,781) $ (5,046,674) $ (4,175,491)
Earnings per share - basic and diluted        
Net loss per common share - basic and diluted $ (0.01) $ (0.01) $ (0.04) $ (0.04)
Weighted common shares - basic and diluted 147,019,042 120,999,849 140,924,128 113,031,986
v3.7.0.1
Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net loss $ (5,046,674) $ (4,175,491)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation 835 0
Stock-based compensation 1,578,663 769,671
Noncash interest expense on notes payable 22,118 243,674
Issuance of restricted stock for services 162,000 52,500
Gain on conversion of debt 0 (142,964)
Decrease to fair value of derivative (426,832) (192,128)
(Increase) decrease in:    
Prepaid expenses and other current assets (43,508) (115,070)
Increase (decrease) in:    
Accounts payable (168,762) 21,301
Accrued expenses and other liabilities (135,303) (123,113)
Accrued interest (331,000) 0
Net cash used in operating activities (4,388,463) (3,661,620)
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, net of financing costs 5,987,122 3,388,919
Proceeds from exercise of warrants 537,659 2,057,648
Payments on note payable (1,000,000) 0
Net cash provided by financing activities 5,524,781 5,446,567
Net increase in cash 1,132,025 1,784,947
Cash, beginning of year 5,036,476 3,960,100
Cash, end of period 6,168,501 5,745,047
Non-cash financing activities    
Conversion of 8% convertible notes and accrued interest to common stock 0 644,900
Exercise of stock options - cashless 107 0
Financing Costs on issuance of common stock and warrants 0 333,320
Warrant Derivative Liability 2,996,110 0
Cash paid for    
Interest on note $ 361,268 $ 0