General form of registration statement for all companies including face-amount certificate companies

Consolidated Statements of Cash Flows

v3.20.4
Consolidated Statements of Cash Flows - USD ($)
3 Months Ended 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:        
Net loss $ (1,154,104) $ (1,659,754) $ (4,691,377) $ (4,547,582)
Adjustments to reconcile net loss to cash used in operating activities:        
Depreciation 372 1,936 6,926 8,238
Stock-based compensation 85,611 199,052 898,293 1,184,349
Issuance of restricted stock for services     0 43,000
Increase in inventory reserve     60,385 0
(Decrease) increase to fair value of derivative (108,944) 40,187 (679,271) (1,824,175)
(Increase) decrease in:        
Inventory (47,747) 146,292 (681,731) (346,647)
Prepaid expenses and other current assets 18,542 33,194 147,032 (210,911)
Increase (decrease) in:        
Accounts payable 49,101 (132,007) (191,505) 372,609
Accrued expenses and other liabilities 27,273 49,452 86,493 52,817
Net cash used in operating activities (1,129,896) (1,321,648) (5,044,755) (5,268,302)
Cash flows from investing activities:        
Purchases of property and equipment 0 (2,455) (2,455) 0
Net cash used in investing activities 0 (2,455) (2,455) 0
Cash flows from financing activities:        
Proceeds received from PPP loan     176,300 0
Proceeds received from Series 2 convertible notes     550,000 0
Proceeds from issued common stock and warrants, net of financing costs 0 2,167,162 2,167,162 2,748,821
Proceeds from exercise of warrants     932,728 0
Proceeds from exercise of stock options     0 32,400
Net cash provided by financing activities 1,050,000 2,167,162 3,826,190 2,781,221
Net (decrease) increase in cash (79,896) 843,059 (1,221,020) (2,487,081)
Cash, beginning of year 959,309 2,180,329 2,180,329 4,667,410
Cash, end of period 879,413 3,023,388 959,309 2,180,329
Non-cash financing activities:        
Warrant derivative liability     0 1,628,113
Exercise of stock options - cashless     0 477
Issuance of restricted stock     965 3,517
Issuance of restricted stock for services     93,500 43,000
Series J Warrants issuance cost     $ 219,737 $ 0
Series 2 convertible notes        
Cash flows from financing activities:        
Proceeds received from Series 2 convertible notes $ 1,050,000 $ 0