Quarterly report pursuant to sections 13 or 15(d)

Consolidated Statements of Cash Flows

v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
 6 Months Ended 97 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Mar. 31, 2014
Cash flows from operating activities:      
Net loss $ (9,188,596) $ (377,893) $ (13,820,467)
Adjustments to reconcile net loss to cash used in operating activities:      
Depreciation expense 0 847 18,371
Other noncash adjustments 92,500 0 98,252
Stock based compensation 503,355 0 791,282
Noncash interest expense on notes payable 55,530 0 55,530
Noncash interest expense on convertible notes payable 0 69,754 441,253
Noncash interest expense on notes payable to related party 0 18,369 142,057
Repayment of accrued interest to related party 0 0 (98,288)
Noncash expense for issuance of warrants 7,056,818 0 7,056,818
Issuance of common stock for services 51,750 0 52,003
(Increase) decrease in:      
Prepaid expenses and other current assets (11,288) 2,187 (30,917)
Other Assets 0 0 (10,062)
Increase (decrease) in:      
Accounts payable (210,614) 45,038 104,155
Accrued expenses and other liabilities 9,108 (24,560) 149,948
Net cash used in operating activities (1,641,437) (266,258) (5,050,065)
Cash flows from investing activities:      
Purchases of property and equipment 0 0 (19,053)
Net cash used in investing activities 0 0 (19,053)
Cash flows from financing activities:      
Proceeds from issuance of common stock and warrants 2,715,403 0 4,715,403
Repayment of notes payable to related party 0 0 (275,200)
Proceeds from issuance of notes payable to related party 0 0 275,200
Proceeds from issuance of convertible notes payable to related party 0 0 105,000
Proceeds from issuance of convertible notes payable 0 250,000 1,880,000
Proceeds from issuance of notes payable 1,000,000 0 1,000,000
Net cash provided by financing activities 3,715,403 250,000 7,700,403
Net increase in cash and cash equivalents 2,073,966 (16,258) 2,631,285
Cash and cash equivalents, beginning of period 557,319 17,139 0
Cash and cash equivalents, end of period 2,631,285 881 2,631,285
Supplemental disclosure of cash flow information and non-cash financing activities      
Interest 0 0 98,288
Income taxes 0 0 0
Debt with warrants issued for promissory note receivable 0 0 1,000,000
Exchange of convertible notes and related accrued interest for common stock $ 0 $ 0 $ 2,470,022