Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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