v3.20.1
Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Dec. 31, 2019
Dec. 31, 2018
OPERATING ACTIVITIES    
Net loss $ (4,505,550) $ (1,488,488)
Adjustments to reconcile net loss to net cash used by operating activities:    
Stock-based compensation 1,504,226 293,303
Research and development expense - license acquired 0 1,046,965
Change in fair value of warrant liabilities 694,134 0
Depreciation and amortization 149,746 0
Loss on disposal of fixed asset 3,230 0
Equity in losses on equity method investment 24,509 0
Non-cash amortization on convertible notes 0 9,614
Non-cash interest expense on convertible notes 0 5,023
Changes in operating assets and liabilities    
Prepaid expenses and other current assets (86,880) 1
Long term prepaid insurance expense 48,417 0
Accounts payable (110,641) (21,683)
Accrued expenses (162,677) 140,332
Accounts payable and accrued expenses   118,649
Net Cash used in Operating Activities (2,441,486) (14,933)
Cash flows from investing activities    
Purchase of laboratory and office equipment (68,400) 0
Payment of transaction costs for license acquired 0 (43,463)
Cash paid for license acquired 0 (54,000)
Net cash used in investing activities (68,400) (97,463)
Cash flows from financing activities    
Principal payment of financed insurance (73,426) 0
Repurchase of common stock 0 (14)
Net cash used in financing activities (73,426) (14)
Net decrease in cash and cash equivalents (2,583,312) (112,410)
Cash and cash equivalents, beginning of period 10,313,966 249,600
Cash and cash equivalents, end of period 7,730,654 137,190
Supplemental disclosure of cash flow information:    
Cash paid for interest 1,326 0
Cash paid for income taxes 0 0
Non-cash investing and financing activities:    
Common stock for research and development expense-license acquired 0 844,600
Fair value of warrant liability issued for research and development expense- license acquired $ 0 $ 104,902

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