Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Statements of Cash Flows

v3.19.2
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended
Jun. 30, 2019
Jun. 30, 2018
OPERATING ACTIVITIES:    
Net loss $ (8,140,000) $ (8,366,200)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 91,000 87,700
Change in provision for doubtful accounts 6,700 2,700
Stock-based compensation 1,213,500 1,335,100
Common stock issued to vendors for services 57,300 162,400
Accretion of debt discount and accrued interest on long-term debt 70,100 58,900
Changes in operating assets and liabilities:    
Accounts receivable (126,800) (76,500)
Prepaid expenses and other assets 42,000 (194,300)
Accounts payable and accrued liabilities 464,300 (409,800)
Deferred revenue 16,100 119,800
Deferred compensation 279,700 (133,900)
Net cash used in operating activities (6,026,100) (7,414,100)
INVESTING ACTIVITES:    
Purchase of furniture and equipment (20,800) (55,200)
Payment for acquisition of business, net of cash acquired (149,100)
Forgiveness of loan in relation of acquisition (157,500)
Net cash used in investing activities (20,800) (361,800)
FINANCING ACTIVITIES:    
Principal payments on note payable (30,000) (38,300)
Principal payments on capital lease (1,000) (900)
Proceeds from Aspire Capital purchase agreements 2,721,900 2,858,600
Proceeds from sale of common stock, net of costs 2,544,700 2,100,000
Proceeds from stock options exercised 54,200
Net cash provided by financing activities 5,235,600 4,973,600
NET DECREASE IN CASH (811,300) (2,802,300)
CASH AND CASH EQUIVALENTS - BEGINNING OF THE PERIOD 3,254,700 5,449,000
CASH AND CASH EQUIVALENTS - END OF THE PERIOD 2,443,400 2,646,700
Cash paid during the period for:    
Interest 2,700 6,400
Income taxes 2,400 1,900
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING & FINANCING ACTIVITIES:    
Long-term borrowings assumed in business combination $ 651,700