Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.19.2
Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net loss $ (3,719,437) $ (3,378,825)
Adjustments to reconcile net (loss) income loss to cash used in operating activities:    
Depreciation 6,320 3,561
Stock-based compensation 1,042,285 1,282,052
Issuance of restricted stock for services 21,500 0
Decrease to fair value of derivative (1,128,014) (1,837,527)
(Increase) decrease in:    
Prepaid expenses and other current assets (442,728) (2,382)
Increase (decrease) in:    
Accounts payable (53,282) (81,722)
Accrued expenses and other liabilities (14,481) (73,002)
Net cash used in operating activities (4,287,837) (4,087,845)
Cash flows from investing activities:    
Purchases of property and equipment 0 (15,494)
Net cash used in investing activities 0 (15,494)
Cash flows from financing activities:    
Proceeds form issued common stock and warrants 2,769,849 0
Proceeds from subscribed but unissued common stock and warrants 0 4,535,000
Proceeds from exercise of warrants 0 63,388
Proceeds from exercise of stock options 32,400 0
Net cash provided by financing activities 2,802,249 4,598,388
Net (decrease)/increase in cash (1,485,588) 495,049
Cash, beginning of year 4,667,410 5,994,052
Cash, end of period 3,181,822 6,489,101
Non-cash financing activities:    
Warrant derivative liability 1,628,113 2,397,454
Financing costs on issuance of common stock and warrants 49,849 80,000
Exercise of stock options - cashless 477 117
Restricted stock - vested $ 3,567 $ 233