Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.3.1.900
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Sep. 30, 2015
Sep. 30, 2014
OPERATING ACTIVITIES:    
Net loss $ (3,379,400) $ (2,662,800)
Adjustments to reconcile net loss to net cash used in operating activities:    
Net (gain) loss from discontinued operations (6,600) 2,700
Depreciation and amortization 7,600 10,300
Amortization of discount on bridge notes issued 152,700 5,000
Gain on derivative liability valuation (162,800) (26,100)
Stock based compensation 241,700 1,008,700
Loss (Gain) on extinguishment of debt 630,000 $ (1,105,200)
Valuation of warrants - investor relations 21,600
Non-cash interest expense 101,000 $ 2,600
Changes in operating assets and liabilities:    
Accounts receivable (2,500) 17,300
Prepaids and other (4,900) 5,500
Accounts payable and accrued liabilities $ (15,800) (153,900)
Deferred revenue grant funds 45,900
Deferred compensation $ 302,600 (421,100)
Net cash used in operating activities (2,114,800) $ (3,271,100)
INVESTING ACTIVITIES:    
Disposal of equipment 1,500
Net cash provided by investing activities 1,500
FINANCING ACTIVITIES:    
Repayment of a capital lease $ (3,600) $ (7,200)
Net proceeds from sale of common stock 1,691,000
Net proceeds from sale of bridge notes $ 1,350,000 1,648,300
Net cash provided by financing activities 1,346,400 3,332,100
Net cash (used in) provided by continuing operations (766,900) 61,000
DISCONTINUED OPERATIONS    
Net cash used in discontinued operations (41,600) (94,000)
NET DECREASE IN CASH (808,500) (33,000)
CASH- BEGINNING OF YEAR 1,240,600 1,273,600
CASH- END OF YEAR 432,100 1,240,600
Cash paid during the period for:    
Interest 3,700 4,200
Income taxes $ 4,900 5,200
Non-cash financing activities:    
Shares issued for extinguishment of liabilities 361,500
Shares issued for cashless exercise of warrants $ 600