Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.20.2
Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net loss $ (3,296,005) $ (3,719,437)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation 5,466 6,320
Stock-based compensation 680,231 1,042,285
Issuance of restricted stock for services 0 21,500
Increase in inventory reserve 95,637 0
Decrease to fair value of derivative (719,831) (1,128,014)
(Increase) decrease in:    
Inventory (726,586) 0
Prepaid expenses and other current assets 196,399 (442,728)
Increase (decrease) in:    
Accounts payable (231,254) (53,282)
Accrued expenses and other liabilities 4,755 (14,481)
Net cash used in operating activities (3,991,188) (4,287,837)
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 received from PPP loan 176,300 0
Proceeds received from promissory convertible note 550,000 0
Proceeds from issued common stock and warrants, net of financing costs 2,167,162 2,769,849
Proceeds from exercise of warrants 932,728 0
Proceeds from exercise of stock options 0 32,400
Net cash provided by financing activities 3,826,190 2,802,249
Net decrease in cash (167,453) (1,485,588)
Cash, beginning of year 2,180,329 4,667,410
Cash, end of period 2,012,876 3,181,822
Non-cash financing activities:    
Warrant derivative liability 0 1,628,113
Exercise of stock options - cashless 0 477
Issuance of restricted stock 0 3,567
Issuance of restricted stock for services 0 21,500
Series J Warrants cost $ 219,737 $ 0