Financials

v3.8.0.1
Consolidated Balance Sheets - USD ($)
Sep. 30, 2017
Sep. 30, 2016
Current assets:    
Cash $ 5,994,052 $ 5,036,476
Prepaid expenses and other current assets 85,343 107,784
Total current assets 6,079,395 5,144,260
Long-term assets:    
Property and equipment, net 7,188 0
Other assets 3,500 0
Total long-term assets 10,688 0
Total assets 6,090,083 5,144,260
Current liabilities:    
Accounts payable 264,876 374,896
Accrued expenses and other liabilities 168,655 299,487
Accrued interest 0 304,770
Note payable, net of unamortized discount 0 899,627
Total current liabilities 433,531 1,878,780
Long-term liabilities:    
Long-term derivative liability 3,430,033 0
Note payable, net of unamortized discount and current portion 0 78,255
Accrued interest, net of current portion 0 26,230
Total long-term liabilities 3,430,033 104,485
Total liabilities 3,863,564 1,983,265
Commitments and contingencies (Note 13)
Stockholders' equity:    
Common stock, $0.001 par value, 300,000,000 shares authorized, 153,692,857 and 136,657,075 shares issued and outstanding as of September 30, 2017 and September 30, 2016, respectively 149,943 134,432
Additional paid-in capital 31,580,022 24,741,153
Accumulated deficit (29,503,446) (21,714,590)
Total stockholders’ equity 2,226,519 3,160,995
Total liabilities and stockholders' equity $ 6,090,083 $ 5,144,260
v3.8.0.1
Consolidated Statements of Operations - USD ($)
12 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Revenues $ 0 $ 0
Operating expenses:    
General and administrative expenses 5,207,753 4,367,476
Research and development expenses 2,094,795 1,683,299
Total operating expenses 7,302,548 6,050,775
Operating loss (7,302,548) (6,050,775)
Other income (expense):    
(Increase) decrease to fair value of derivative (433,923) 192,128
Interest expense (52,385) (276,687)
Gain on conversion of debt 0 142,964
Total other (expense) income (486,308) 58,405
Net loss $ (7,788,856) $ (5,992,370)
Earnings per share - basic and diluted    
Net loss per common share - basic and diluted $ (0.05) $ (0.05)
Weighted common shares - basic and diluted 142,722,788 121,462,897
v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net loss $ (7,788,856) $ (5,992,370)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation 1,498 0
Stock-based compensation 2,105,980 1,098,160
Noncash interest expense on notes payable 22,118 276,687
Issuance of restricted stock for services 162,000 52,500
Gain on conversion of debt 0 (142,964)
Decrease (Increase) to fair value of derivative 433,923 (192,128)
(Increase) decrease in:    
Prepaid expenses and other current assets 22,441 (64,865)
Other assets (3,500) 0
Increase (decrease) in:    
Accounts payable (110,020) 137,420
Accrued expenses and other liabilities (130,832) 80,533
Accrued interest (331,000) 0
Net cash used in operating activities (5,616,248) (4,747,027)
Cash flows from investing activities:    
Purchases of property and equipment (8,686) 0
Net cash used in investing activities (8,686) 0
Cash flows from financing activities:    
Proceeds from issuance of common stock and warrants, net of financing costs 5,987,122 3,114,654
Proceeds from exercise of warrants 1,589,888 2,708,749
Proceeds from exercise of stock options 5,500 0
Payments on note payable (1,000,000) 0
Net cash provided by financing activities 6,582,510 5,823,403
Net increase in cash 957,576 1,076,376
Cash, beginning of year 5,036,476 3,960,100
Cash, end of year 5,994,052 5,036,476
Non-cash financing activities    
Warrant derivative liability 2,996,110 0
Exercise of stock options - cashless 106 69
Exercise of warrants - cashless 19 2,334
Conversion of 8% convertible notes and accrued interest to common stock 0 644,900
Financing Costs on issuance of common stock and warrants 0 5,715
Cash paid for    
Interest on note $ 361,268 $ 0