Quarterly report pursuant to sections 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
 9 Months Ended 88 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Cash flows from operating activities:      
Net loss $ (892,254) $ (382,609) $ (3,670,333)
Adjustments to reconcile net loss to cash used in operating activities:      
Depreciation expense 847 2,589 18,994
Other noncash adjustments 2,859 0 8,342
Noncash interest expense on convertible notes payable 82,147 86,532 441,253
Noncash interest expense on notes payable to related party 25,599 27,790 142,057
Issuance of common stock for services 0 0 253
(Increase) decrease in:      
Prepaid expenses and other current assets 2,187 3,955 (1,121)
Increase (decrease) in:      
Accounts payable 49,122 114,885 307,548
Accrued expenses and other liabilities 62,211 (4,768) 111,718
Net cash used in operating activities (667,281) (151,625) (2,641,288)
Cash flows from investing activities:      
Purchases of property and equipment 0 0 (19,054)
Net cash used in investing activities 0 0 (19,054)
Cash flows from financing activities:      
Proceeds from common stock issued in merger 1,250,000 0 1,250,000
Repayment of notes payable and accrued interest to related party (373,488) 0 (373,488)
Proceeds from issuance of notes payable 0 0 275,200
Proceeds from issuance of convertible notes payable 250,000 135,000 1,985,000
Net cash provided by financing activities 1,126,512 135,000 3,136,712
Net increase in cash and cash equivalents 459,230 (16,626) 476,369
Cash and cash equivalents, beginning of period 17,139 36,775 0
Cash and cash equivalents, end of period 476,369 20,149 476,369
Supplemental disclosure of cash flow information:      
Interest 98,288 0 98,288
Income taxes $ 0 $ 0 $ 0