Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.20.2
Consolidated Balance Sheets - USD ($)
Sep. 30, 2020
Sep. 30, 2019
Current assets:    
Cash $ 959,309 $ 2,180,329
Inventory, net 967,993 346,647
Prepaid expenses and other current assets 215,673 362,705
Total current assets 2,142,975 2,889,681
Long-term assets:    
Property and equipment, net 4,552 9,023
Other assets 3,500 3,500
Total long-term assets 8,052 12,523
Total assets 2,151,027 2,902,204
Current liabilities:    
Accounts payable 342,050 533,555
Accrued expenses and other liabilities 266,749 180,256
Current portion of PPP Loan 37,442 0
Total current liabilities 646,241 713,811
Long-term liabilities:    
Long-term portion of PPP loan 138,858 0
Promissory convertible debt 550,000 0
Derivative liability 2,316,419 2,995,690
Total long-term liabilities 3,005,277 2,995,690
Total liabilities 3,651,518 3,709,501
Commitments and contingencies (Note 16)
Stockholders' deficit:    
Common stock, $0.001 par value, 800,000,000 and 300,000,000 shares authorized as of September 30, 2020 and 2019, respectively, 193,044,766 and 173,577,233 shares issued and outstanding as of September 30, 2020 and September 30, 2019, respectively 193,045 172,612
Additional paid-in capital 41,862,901 37,885,151
Accumulated deficit (43,556,437) (38,865,060)
Total stockholders' deficit (1,500,491) (807,297)
Total liabilities and stockholders' equity (deficit) $ 2,151,027 $ 2,902,204