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

Condensed Consolidated Statements of Cash Flows

v3.24.1.1.u2
Condensed Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended 12 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:        
Net loss $ (4,150,791) $ (2,702,533) $ (6,982,836) $ (5,275,854)
Adjustments to reconcile net loss to cash used in operating activities:        
Depreciation 1,209 1,043 1,966 3,196
Stock-based compensation 25,909 172,550 249,555 499,583
Change in fair value of derivative liability     (1,158,197) (1,000,000)
Inventory obsolescence charge     248,073
Amortization of debt discount     2,310,860 302,049
Gain on extinguishment of derivative liabilities (1,158,197)
Accretion of discount and debt issuance costs on convertible notes payable 1,437,588 846,147  
Changes in operating asset and liabilities:        
Inventory 34,911 12,464 50,344 (569,156)
Prepaid expenses and other current assets 185,707 280,058 421,091 225,124
Accounts payable 665,314 1,097,894 976,207 846,869
Accrued interest 341,793 313,356 659,690 265,000
Accrued expenses and other liabilities (104,404) (112,713) 97,104 (959)
Net cash used in operating activities (1,562,764) (1,249,931) (3,374,216) (4,456,075)
Cash flows from investing activities:        
Purchases of property and equipment     (4,521)
Net cash used in investing activities     (4,521)
Cash flows from financing activities:        
Repayment of insurance premium financing (208,530) (212,514) (350,322) (106,257)
Proceeds received from senior secured convertible notes, net of financing costs     3,042,633
Proceeds from unsecured convertible notes 450,000 515,000 995,000
Shareholder advances related to bridge financing 1,125,000 230,000  
Proceeds from issued common stock and warrants, net of financing costs     2,209,839
Net cash provided by financing activities 1,366,470 532,486 2,854,517 2,936,376
Net decrease in cash (196,294) (717,445) (524,220) (1,519,699)
Cash, beginning of period 222,720 746,940 746,940 2,266,639
Cash, end of period 26,426 29,495 222,720 746,940
Non-cash financing activities:        
Financing of insurance premium     347,550 354,190
Issuance of restricted stock 3,019 8,959
Fair value of placement agent warrants - second close     1,470,133
Fair value of inducement shares issued - second close 25,840 25,840
Exchange of Series G and Series H warrants for common stock 49,278
Relative fair value of warrants issued – fourth close 148,891
Exchange of Series 2 Convertible Notes into Senior Secured Notes (See Note 6)     699,781
Issuance of restricted stock in consideration for services performed     30,840
Unpaid issuance costs in accounts payable     110,576 73,048
Conversion of convertible notes and accrued interest to common stock, net 606,239 606,239
Conversion Of Series 2 Convertible Notes And Interest Into Common Stock [Member]        
Non-cash financing activities:        
Conversion of convertible notes and accrued interest to common stock, net 606,239 606,239
Issued With Notes Payable [Member]        
Non-cash financing activities:        
Fair value of placement agent warrants - second close     1,159,247
Common Stock Warrants [Member]        
Non-cash financing activities:        
Fair value of inducement shares issued - second close     49,277
Placement Agent Warrant 2022 [Member]        
Non-cash financing activities:        
Fair value of placement agent warrants - second close     219,894
Second Warrants [Member]        
Non-cash financing activities:        
Fair value of placement agent warrants - second close 256,439 256,439
Placement Agent Warrants [Member]        
Non-cash financing activities:        
Fair value of placement agent warrants - second close $ 28,093 28,093
Inducement Shares 2022 [Member]        
Non-cash financing activities:        
Fair value of inducement shares issued - second close     $ 314,523