Financials

v3.8.0.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2017
Sep. 30, 2017
Current assets:    
Cash $ 4,958,073 $ 5,994,052
Prepaid expenses 71,404 85,343
Total current assets 5,029,477 6,079,395
Long-term assets:    
Property and equipment, net 9,927 7,188
Other assets 3,500 3,500
Total long-term assets 13,427 10,688
Total assets 5,042,904 6,090,083
Current liabilities:    
Accounts payable 289,276 264,876
Accrued expenses and other liabilities 181,241 168,655
Total current liabilities 470,517 433,531
Long-term liabilities:    
Long-term derivative liability 1,458,484 3,430,033
Total long-term liabilities 1,458,484 3,430,033
Total liabilities 1,929,001 3,863,564
Commitments and contingencies
Stockholders’ equity:    
Common stock, $0.001 par value, 300,000,000 shares authorized, 154,052,013 and 138,182,075 shares issued and outstanding as of December 31, 2017 and September 30, 2017, respectively 150,302 149,943
Additional paid-in capital 32,077,871 31,580,022
Accumulated deficit (29,114,270) (29,503,446)
Total stockholders’ equity 3,113,903 2,226,519
Total liabilities and stockholders' equity $ 5,042,904 $ 6,090,083
v3.8.0.1
Consolidated Statements of Operations - USD ($)
3 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Income Statement    
Revenues $ 0 $ 0
Operating expenses:    
General and administrative expenses 1,001,511 1,026,644
Research and development expenses 580,862 349,287
Total operating expenses 1,582,373 1,375,931
Operating loss (1,582,373) (1,375,931)
Other income (expense):    
Decrease to fair value of derivative 1,971,549 0
Interest expense 0 (25,570)
Total other income (expense) 1,971,549 (25,570)
Net income/(loss) $ 389,176 $ (1,401,501)
Earnings per share - basic    
Net income/(loss) per common share - basic $ 0 $ (0.01)
Weighted common shares - basic 150,144,575 135,319,847
Earnings per share - diluted    
Net income/(loss) per common share - diluted $ 0 $ (0.01)
Weighted common shares - diluted 163,527,032 135,319,847
v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:    
Net income (loss) $ 389,176 $ (1,401,501)
Adjustments to reconcile net income (loss) to cash used in operating activities:    
Depreciation 724 119
Stock-based compensation 434,820 265,662
Noncash interest expense on notes payable 0 5,529
Issuance of restricted stock for services 0 108,000
Decrease to fair value of derivative (1,971,549) 0
(Increase) decrease in:    
Prepaid expenses 13,939 (2,286)
Increase (decrease) in:    
Accounts payable 24,400 (102,644)
Accrued expenses and other liabilities 12,586 (178,451)
Accrued interest 0 (69,430)
Net cash used in operating activities (1,095,904) (1,375,002)
Cash flows from investing activities:    
Purchases of property and equipment (3,463) (4,293)
Net cash used in investing activities (3,463) (4,293)
Cash flows from financing activities:    
Proceeds from exercise of warrants 63,388 359,150
Payments on note payable 0 (228,594)
Net cash provided by financing activities 63,388 130,556
Net decrease in cash (1,035,979) (1,248,739)
Cash, beginning of year 5,994,052 5,036,476
Cash, end of period 4,958,073 3,787,737
Non-cash financing activities    
Exercise of stock options - cashless $ 117 $ 0