Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.5.0.2
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities:    
Net loss $ (5,992,370) $ (2,947,526)
Adjustments to reconcile net loss to cash used in operating activities:    
Stock-based compensation 1,098,160 1,047,685
Noncash interest expense on notes payable 276,687 377,805
Issuance of restricted stock for services 52,500 166,157
Gain on exercise of warrants and conversion of debt (142,964) (386,612)
Loss on warrant derivative modification, net of inducement shares 0 1,032,113
Decrease to fair value of derivative (192,128) (3,536,294)
(Increase) decrease in:    
Prepaid expenses and other current assets (64,865) 551
Increase (decrease) in:    
Accounts payable 137,420 55,929
Accrued expenses and other liabilities 80,533 (49,194)
Net cash used in operating activities (4,747,027) (4,239,386)
Cash flows from financing activities:    
Proceeds from exercise of warrants 2,708,749 3,600,000
Proceeds from issuance of common stock and warrants 3,114,654 3,015,966
Proceeds from issuance of convertible notes 0 750,000
Net cash provided by financing activities 5,823,403 7,365,966
Net increase in cash 1,076,376 3,126,580
Cash, beginning of year 3,960,100 833,520
Cash, end of year 5,036,476 3,960,100
Non-cash financing activities    
Financing Costs on issuance of common stock and warrants 5,715 0
Cashless exercise of Series A warrants 2,334 686
Conversion of 8% convertible notes and accrued interest to common stock 644,900 151,173
Cashless exercise of stock options 69 462
Issuance of inducement shares 0 135,352
Reclass of Series A and Series C Warrants from derivative liabilities to equity 0 3,263,753
Conversion Feature embedded in convertible note $ 0 $ 354,988