Financials

v3.6.0.2
Consolidated Balance Sheets - USD ($)
Dec. 31, 2016
Sep. 30, 2016
Current assets:    
Cash $ 3,787,737 $ 5,036,476
Prepaid expenses and other current assets 110,070 107,784
Total current assets 3,897,807 5,144,260
Long-term assets:    
Property and equipment, net 4,174 0
Total long-term assets 4,174 0
Total assets 3,901,981 5,144,260
Current liabilities:    
Accounts payable 272,252 374,896
Accrued expenses and other liabilities 121,036 299,487
Accrued interest 261,570 304,770
Note payable, net of unamortized discount 754,817 899,627
Total current liabilities 1,409,675 1,878,780
Long-term liabilities:    
Note payable, net of unamortized discount 0 78,255
Accrued interest, net of current portion 0 26,230
Total long-term liabilities 0 104,485
Total liabilities 1,409,675 1,983,265
Commitments and contingencies
Stockholders' equity:    
Common stock, $0.001 par value, 300,000,000 shares authorized, 138,182,075 and 136,657,075 shares issued and outstanding as of December 31, 2016 and September 30, 2016, respectively 136,107 134,432
Additional paid-in capital 25,472,290 24,741,153
Accumulated deficit (23,116,091) (21,714,590)
Total stockholders’ equity 2,492,306 3,160,995
Total liabilities and stockholders' equity $ 3,901,981 $ 5,144,260
v3.6.0.2
Consolidated Statements of Operations - USD ($)
3 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Revenues $ 0 $ 0
Operating expenses:    
General and administrative expenses 1,026,644 865,512
Research and development expenses 349,287 414,003
Total operating expenses 1,375,931 1,279,515
Operating loss (1,375,931) (1,279,515)
Other income (expense):    
Interest expense (25,570) (143,747)
Gain on conversion of debt 0 129,461
Decrease to fair value of derivative 0 137,146
Total other income (expense) (25,570) 122,860
Net loss $ (1,401,501) $ (1,156,655)
Earnings per share - basic and diluted    
Net loss per common share - basic and diluted $ (0.01) $ (0.01)
Weighted common shares - basic and diluted 135,319,847 108,620,575
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