Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.4.0.3
Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities:    
Net loss $ (2,409,711) $ (454,821)
Adjustments to reconcile net loss to cash used in operating activities:    
Stock-based compensation 358,330 609,272
Noncash interest expense on notes payable 210,569 78,320
Issuance of restricted stock for services 52,500 8,625
Gain on exercise of warrants and conversion of debt (142,964) (224,000)
Loss on warrant derivative modification 0 1,924,186
Decrease to fair value of derivative (192,128) (3,849,448)
(Increase) decrease in:    
Prepaid expenses and other current assets (47,200) 11,029
Increase (decrease) in:    
Accounts payable (96,146) 28,267
Accrued expenses and other liabilities (64,101) 58,650
Net cash used in operating activities (2,330,851) (1,809,920)
Cash flows from financing activities:    
Proceeds from exercise of warrants 40,000 800,000
Proceeds from issuance of convertible notes 0 750,000
Net cash provided by financing activities 40,000 1,550,000
Net increase in cash (2,290,851) (259,920)
Cash, beginning of period 3,960,100 833,520
Cash and cash equivalents, end of period 1,669,249 573,600
Non-cash financing activities    
Conversion of 8% convertible notes and accrued interest to common stock $ 536,278 $ 0