Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.21.2
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net loss $ (6,240,482) $ (4,691,377)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation 2,587 6,926
Stock-based compensation 496,066 898,293
(Decrease) to fair value of derivative (108,944) (679,271)
Inventory obsolescence charge 181,988 60,385
Gain on forgiveness of loan (178,229) 0
(Increase) decrease in:    
Inventory (307,760) (681,731)
Prepaid expenses and other current assets (91,668) 147,032
Increase (decrease) in:    
Accounts payable 66,033 (191,505)
Accrued interest 151,285 0
Accrued expenses and other liabilities 70,496 86,493
Net cash used in operating activities (5,958,628) (5,044,755)
Cash flows from investing activities:    
Purchases of property and equipment (3,275) (2,455)
Net cash used in investing activities (3,275) (2,455)
Cash flows from financing activities:    
Proceeds received from convertible notes 1,050,000 550,000
Proceeds received from PPP loan 0 176,300
Proceeds from issued common stock and warrants, net of financing costs 6,219,233 2,167,162
Proceeds from exercise of warrants 0 932,728
Net cash provided by financing activities 7,269,233 3,826,190
Net increase (decrease) in cash 1,307,330 (1,221,020)
Cash, beginning of year 959,309 2,180,329
Cash, end of period 2,266,639 959,309
Non-cash financing activities:    
Issuance of restricted stock for services 103,750 93,500
Series J Warrants cost 0 219,737
Issuance of restricted stock $ 0 $ 965