Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:    
Net loss $ (1,659,754) $ (2,600,237)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation 1,936 1,781
Non-employee stock-based compensation for services 199,052 522,437
Issuance of restricted stock for services 0 21,500
Increase in inventory reserve 146,292 0
Increase to fair value of derivative 40,187 832,413
(Increase) decrease in:    
Prepaid expenses and other current assets 33,194 (88,218)
Increase (decrease) in:    
Accounts payable (132,007) (30,314)
Accrued expenses and other liabilities 49,452 18,481
Net cash used in operating activities (1,321,648) (1,322,157)
Cash flows from investing activities:    
Purchases of property and equipment (2,455) 0
Net cash used in investing activities (2,455) 0
Cash flows from financing activities:    
Proceeds from issued common stock and warrants, net of financing costs 2,167,162 0
Proceeds from exercise of stock options 0 32,400
Net cash provided by financing activities 2,167,162 32,400
Net increase (decrease) in cash 843,059 (1,289,757)
Cash, beginning of year 2,180,329 4,667,410
Cash, end of year 3,023,388 3,377,653
Non-cash financing activities:    
Exercise of stock options - cashless 0 477
Issuance of restricted stock 0 1,767
Issuance of restricted stock for services $ 0 $ 21,500