Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.20.2
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net loss $ (4,691,377) $ (4,547,582)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation 6,926 8,238
Stock-based compensation 898,293 1,184,349
Issuance of restricted stock for services 0 43,000
Increase in inventory reserve 60,385 0
Decrease to fair value of derivative (679,271) (1,824,175)
(Increase) decrease in:    
Inventory (681,731) (346,647)
Prepaid expenses and other current assets 147,032 (210,911)
Increase (decrease) in:    
Accounts payable (191,505) 372,609
Accrued expenses and other liabilities 86,493 52,817
Net cash used in operating activities (5,044,755) (5,268,302)
Cash flows from investing activities:    
Purchases of property and equipment (2,455) 0
Net cash used in investing activities (2,455) 0
Cash flows from financing activities:    
Proceeds received from PPP loan 176,300 0
Proceeds received from promissory convertible note 550,000 0
Proceeds from issued common stock and warrants, net of financing costs 2,167,162 2,748,821
Proceeds from exercise of warrants 932,728 0
Proceeds from exercise of stock options 0 32,400
Net cash provided by financing activities 3,826,190 2,781,221
Net decrease in cash (1,221,020) (2,487,081)
Cash, beginning of year 2,180,329 4,667,410
Cash, end of year 959,309 2,180,329
Non-cash financing activities:    
Warrant derivative liability 0 1,628,113
Exercise of stock options - cashless 0 477
Issuance of restricted stock 965 3,517
Issuance of restricted stock for services 93,500 43,000
Series J Warrants issuance cost $ 219,737 $ 0