Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
 12 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash flows from operating activities:    
Net loss $ (8,142,823) $ (1,853,791)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation expense 322 586
Other noncash adjustments 92,500 (92)
Stock-based compensation 1,101,286 287,927
Noncash interest expense on notes payable 111,059 0
Noncash interest expense on convertible notes payable 0 82,147
Noncash interest expense on notes payable to related party 0 25,599
Repayment of accrued interest to related party 0 (98,288)
Non cash expense for issuance of warrants 3,420,000 0
Issuance of common stock for services 94,875 0
(Increase) decrease in:    
Prepaid expenses and other current assets (13,779) (16,321)
Other Assets 0 (10,062)
Increase (decrease) in:    
Accounts payable (138,937) 56,343
Accrued expenses and other liabilities 126,995 91,332
Net cash used in operating activities (3,348,502) (1,434,620)
Cash flows from financing activities:    
Proceeds from issuance of common stock and warrants 2,624,703 2,000,000
Repayment of notes payable to related party 0 (275,200)
Proceeds from issuance of convertible notes payable 0 250,000
Proceeds from issuance of notes payable 1,000,000 0
Net cash provided by financing activities 3,624,703 1,974,800
Net increase in cash and cash equivalents 276,201 540,180
Cash and cash equivalents, beginning of period 557,319 17,139
Cash and cash equivalents, end of period 833,520 557,319
Cash paid during the period for:    
Interest 0 98,288
Debt with warrants issued for promissory note receivable 0 1,000,000
Exchange of convertible notes and related accrued interest for common stock 0 2,470,022
Fully depreciated fixed assets disposed of $ 2,066 $ 0