Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net loss $ (2,391,638) $ (2,430,275)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation 3,701 3,561
Stock-based compensation 496,255 815,614
Issuance of restricted stock for services 0 21,500
Increase in inventory reserve 49,692 0
(Decrease) to fair value of derivative (382,498) (844,915)
(Increase) decrease in:    
Inventory (657,000) 0
Prepaid expenses and other current assets 222,014 (301,278)
Increase (decrease) in:    
Accounts payable 190,752 14,658
Accrued expenses and other liabilities (87,385) (22,415)
Net cash used in operating activities (2,556,107) (2,743,550)
Cash flows from investing activities:    
Purchases of property and equipment (2,455) 0
Net cash used in investing activities (2,455) 0
Cash flows from financing activities:    
Proceeds from issued common stock and warrants, net of financing costs 2,167,162 0
Proceeds from exercise of stock options 0 32,400
Net cash provided by financing activities 2,167,162 32,400
Net (decrease) in cash (391,400) (2,711,150)
Cash, beginning of year 2,180,329 4,667,410
Cash, end of period 1,788,929 1,956,260
Non-cash financing activities:    
Exercise of stock options - cashless 0 477
Issuance of restricted stock 0 3,517
Issuance of restricted stock for services $ 0 $ 21,500