Quarterly report pursuant to Section 13 or 15(d)

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 3 Months Ended
Dec. 31, 2016
Dec. 31, 2015
OPERATING ACTIVITIES:    
Net loss $ (1,463,800) $ (3,451,300)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 8,000 1,400
Gain on derivative liability valuation (11,300)
Stock based compensation 281,100 39,900
Loss on extinguishment of debt 2,337,400
Financing expenses 499,500
Changes in operating assets and liabilities:    
Accounts receivable 1,900 8,000
Prepaids and other 36,400 26,900
Accounts payable and accrued liabilities 88,300 (63,800)
Amort of grant of common stock 243,500
Deferred compensation 38,800 5,800
Net cash used in operating activities (765,800) (607,500)
INVESTING ACTIVITES:    
Purchase of fixed assets (1,600)
Intangible assets (2,100)
Net cash used in investing activities (3,700)
FINANCING ACTIVITIES:    
Repayment of a capital lease (300) (800)
Net proceeds from sale of common stock 1,500,000
Net proceeds from issuance of secured convertible debt 1,000,000
Net cash provided by financing activities 1,499,700 999,200
NET INCREASE IN CASH 730,200 391,700
CASH- BEGINNING OF THE QUARTER 318,200 432,100
CASH- END OF THE QUARTER 1,048,400 823,800
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Interest 2,500 800
Income taxes 1,800 300
Non-cash financing activity    
Issuance of commitment shares pursuant to the Aspire Purchase Agreement $ 708,000