Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Sep. 30, 2018
Sep. 30, 2017
OPERATING ACTIVITIES:    
Net loss $ (10,333,100) $ (7,112,800)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 117,900 48,700
Change in provision for doubtful accounts 800
Stock based compensation 1,588,300 2,086,000
Non-cash common stock issued to vendors for services 201,920 173,000
Accretion of debt discount and non-cash interest expense 82,300
Changes in operating assets and liabilities:    
Accounts receivable (500) (1,400)
Prepaid expenses and other assets (91,500) (12,100)
Accounts payable and accrued liabilities (432,700) 301,500
Deferred revenue 113,800
Deferred compensation (285,900) (275,000)
Net cash used in operating activities (9,038,680) (4,792,100)
INVESTING ACTIVITIES:    
Purchase of property and equipment (55,200) (127,900)
Investment in Arcadian (190,000)
Payment for acquisition of business, net of cash acquired (306,600)
Loan Advance - Plotkin (159,500)
Purchase of intangible assets (2,100)
Net cash used in investing activities (361,800) (479,500)
FINANCING ACTIVITIES:    
Principal payments on capital lease (2,600) (1,200)
Principal payments on long-term debt (37,000)
Principal payments on note payable (36,200) (56,200)
Proceeds from Aspire Capital purchase agreements 4,260,210 145,000
Proceeds from sale of preferred stock and common stock warrants 2,037,100
Proceeds from sale of common stock 930,435 2,981,300
Proceeds from public offering 7,482,100
Proceeds from stock options exercised 54,235
Deferred offering costs (148,600)
Net cash provided by financing activities 7,206,180 10,402,400
NET INCREASE (DECREASE) IN CASH (2,194,300) 5,130,800
CASH- BEGINNING OF YEAR 5,449,000 318,200
CASH- END OF YEAR 3,254,700 5,449,000
Cash paid during the period for:    
Interest 8,200 6,600
Income taxes 1,900 2,600
Non-cash financing and investing activities    
Long-term borrowings assumed in business combination 651,700
Commitment shares issued to Aspire Capital as offering cost 795,000 708,000
Investment in Arcadian 1,000 shares at $5.90 per share of common stock $ 5,900