Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.10.0.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities:    
Net loss $ (4,814,032) $ (7,788,856)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation 5,342 1,498
Stock-based compensation 1,742,459 2,105,980
Noncash interest expense on notes payable 0 22,118
Issuance of restricted stock for services 0 162,000
(Decrease) increase to fair value of derivative (2,635,735) 433,923
(Increase) decrease in:    
Prepaid expenses (66,451) 22,441
Other Assets 0 (3,500)
Increase (decrease) in:    
Accounts payable (103,930) (110,020)
Accrued expenses and other liabilities (41,216) (130,832)
Accrued interest 0 (331,000)
Net cash used in operating activities (5,913,563) (5,616,248)
Cash flows from investing activities:    
Purchases of property and equipment (15,415) (8,686)
Net cash used in investing activities (15,415) (8,686)
Cash flows from financing activities:    
Proceeds from exercise of warrants 63,388 1,589,888
Proceeds from issuance of common stock and warrants 4,461,248 5,987,122
Proceeds from exercise of stock options 77,700 5,500
Payments on note payable 0 (1,000,000)
Net cash provided by financing activities 4,602,336 6,582,510
Net (decrease)/increase in cash (1,326,642) 957,576
Cash, beginning of year 5,994,052 5,036,476
Cash, end of year 4,667,410 5,994,052
Non-cash financing activities:    
Warrant derivative liability 2,397,454 2,996,110
Exercise of stock options - cashless 117 107
Restricted stock - vested 233 0
Cash paid for    
Interest on note $ 0 $ 361,268