Annual report pursuant to section 13 and 15(d)

Consolidated Statement of Cash Flows

v2.4.0.8
Consolidated Statement of Cash Flows (USD $)
 12 Months Ended 91 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Cash flows from operating activities:      
Net loss $ (1,853,791) $ (576,911) $ (4,631,871)
Adjustments to reconcile net loss to cash used in operating activities:      
Depreciation expense 586 3,372 18,371
Other noncash adjustments (92) 0 5,752
Stock based compensation 287,927 0 287,927
Noncash interest expense on convertible notes payable 82,147 118,657 441,253
Noncash interest expense on notes payable to related party 25,599 37,211 142,057
Issuance of common stock for services 0 1 253
(Increase) decrease in:      
Prepaid expenses and other current assets (16,321) 648 (19,629)
Other Assets (10,062) 0 (10,062)
Increase (decrease) in:      
Accounts payable 56,343 139,878 314,769
Accrued expenses and other liabilities 91,332 22,508 140,840
Net cash used in operating activities (1,336,332) (254,636) (3,310,340)
Cash flows from investing activities:      
Purchases of property and equipment 0 0 (19,053)
Net cash used in investing activities 0 0 (19,053)
Cash flows from financing activities:      
Proceeds from issuance of common stock and warrants 2,000,000 0 2,000,000
Repayment of notes payable and accrued interest to related party (373,488) 0 (373,488)
Proceeds from issuance of notes payable to related party 0 0 275,200
Proceeds from issuance of convertible notes payable to related party 0 0 105,000
Proceeds from issuance of convertible notes payable 250,000 235,000 1,880,000
Net cash provided by financing activities 1,876,512 235,000 3,886,712
Net increase in cash and cash equivalents 540,180 (19,636) 557,319
Cash and cash equivalents, beginning of period 17,139 36,775 0
Cash and cash equivalents, end of period 557,319 17,139 557,319
Supplemental disclosure of cash flow information and non-cash financing activities      
Interest 98,288 0 98,288
Income taxes 0 0 0
Debt with warrants issued for promissory notes receivable $ 1,000,000 $ 0 $ 1,000,000