Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net loss $ (7,788,856) $ (5,992,370)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation 1,498 0
Stock-based compensation 2,105,980 1,098,160
Noncash interest expense on notes payable 22,118 276,687
Issuance of restricted stock for services 162,000 52,500
Gain on conversion of debt 0 (142,964)
Decrease (Increase) to fair value of derivative 433,923 (192,128)
(Increase) decrease in:    
Prepaid expenses and other current assets 22,441 (64,865)
Other assets (3,500) 0
Increase (decrease) in:    
Accounts payable (110,020) 137,420
Accrued expenses and other liabilities (130,832) 80,533
Accrued interest (331,000) 0
Net cash used in operating activities (5,616,248) (4,747,027)
Cash flows from investing activities:    
Purchases of property and equipment (8,686) 0
Net cash used in investing activities (8,686) 0
Cash flows from financing activities:    
Proceeds from issuance of common stock and warrants, net of financing costs 5,987,122 3,114,654
Proceeds from exercise of warrants 1,589,888 2,708,749
Proceeds from exercise of stock options 5,500 0
Payments on note payable (1,000,000) 0
Net cash provided by financing activities 6,582,510 5,823,403
Net increase in cash 957,576 1,076,376
Cash, beginning of year 5,036,476 3,960,100
Cash, end of year 5,994,052 5,036,476
Non-cash financing activities    
Warrant derivative liability 2,996,110 0
Exercise of stock options - cashless 106 69
Exercise of warrants - cashless 19 2,334
Conversion of 8% convertible notes and accrued interest to common stock 0 644,900
Financing Costs on issuance of common stock and warrants 0 5,715
Cash paid for    
Interest on note $ 361,268 $ 0