Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities:    
Net loss $ (1,166,185) $ (3,270,932)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation 1,854 477
Stock-based compensation 950,884 1,013,367
Noncash interest expense on notes payable 0 22,118
Issuance of restricted stock for services 0 162,000
Decrease to fair value of derivative (2,430,033) (361,506)
(Increase) decrease in:    
Prepaid expenses 15,486 (237,446)
Increase (decrease) in:    
Accounts payable 52,618 (247,825)
Accrued expenses and other liabilities (94,172) (157,471)
Accrued interest 0 (331,000)
Net cash used in operating activities (2,669,548) (3,408,218)
Cash flows from investing activities:    
Purchases of property and equipment (9,894) (4,293)
Net cash used in investing activities (9,894) (4,293)
Cash flows from financing activities:    
Proceeds from exercise of warrants 63,388 537,659
Proceeds from issuance of common stock and warrants 0 6,068,686
Payments on note payable 0 (1,000,000)
Net cash provided by financing activities 63,388 5,606,345
Net (decrease) increase in cash (2,616,054) 2,193,834
Cash, beginning of year 5,994,052 5,036,476
Cash, end of period 3,377,998 7,230,310
Non-cash financing activities:    
Exercise of stock options - cashless 117 107
Financing Costs on issuance of common stock and warrants 0 93,687
Warrant derivative liability $ 0 $ 2,996,110