Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.21.1
Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net loss $ (2,945,400) $ (2,391,638)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation 989 3,701
Stock-based compensation 278,340 496,255
Decrease to fair value of derivative (108,944) (382,498)
Inventory obsolescence charge 181,988 49,692
(Increase) decrease in:    
Inventory (42,215) (657,000)
Prepaid expenses and other current assets (237,703) 222,014
Increase (decrease) in:    
Accounts payable 216,783 190,752
Accrued interest 69,137 0
Accrued expenses and other liabilities (77,426) (87,385)
Net cash used in operating activities (2,664,451) (2,556,107)
Cash flows from investing activities:    
Purchases of property and equipment (3,275) (2,455)
Net cash used in investing activities (3,275) (2,455)
Cash flows from financing activities:    
Proceeds from issued common stock and warrants, net of financing costs 6,219,233 2,167,162
Net cash provided by financing activities 7,269,233 2,167,162
Net increase (decrease) in cash 4,601,507 (391,400)
Cash, beginning of year 959,309 2,180,329
Cash, end of period 5,560,816 1,788,929
Non-cash financing activities:    
Issuance of restricted stock for services 103,750 0
Series 2 convertible notes    
Cash flows from financing activities:    
Proceeds received from Series 2 convertible notes $ 1,050,000 $ 0