v3.20.1
Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Mar. 31, 2020
Mar. 31, 2019
OPERATING ACTIVITIES    
Net loss $ (8,883,820) $ (3,518,298)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock-based compensation 2,843,636 1,547,474
Research and development expense - license acquired 0 1,046,965
Change in fair value of warrant liabilities 624,190 38,702
Depreciation and amortization 199,500 0
Loss on disposal of fixed asset 3,230 0
Equity in losses on equity method investment 117,351 0
Non-cash amortization on convertible notes 0 42,224
Non-cash interest expense on convertible notes 0 16,027
Changes in operating assets and liabilities    
Other prepaid expenses and current assets 214,698 (2,531)
Long-term prepaid insurance 96,833 0
Accounts payable 186,911 418,855
Accrued expenses and other current liabilities 340,288 151,118
Net cash used in operating activities (4,257,183) (259,464)
Cash flows from investing activities    
Purchase of laboratory and office equipment (161,916) (31,650)
Payment of transaction costs for license acquired 0 (43,463)
Cash paid for license acquired 0 (54,000)
Net cash used in investing activities (161,916) (129,113)
Cash flows from financing activities    
Principal payment of financed insurance (122,919) 0
Proceeds from issuance of convertible notes 0 600,000
Proceeds from issuance of common shares for services 0 1,474
Proceeds from prefunded warrant 0 10
Repurchase of common stock 0 (14)
Net (used in) provided by financing activities (122,919) 601,470
Net (decrease) increase in cash and cash equivalents (4,542,018) 212,893
Cash and cash equivalents, beginning of period 10,313,966 249,600
Cash and cash equivalents, end of period 5,771,948 462,493
Supplemental disclosure of cash flow information:    
Cash paid for interest 1,668 0
Cash paid for income taxes 0 0
Non-cash investing and financing activities:    
Issuance of common stock for research and development expense-licenses acquired 0 844,600
Fair value of warrant liability issued for research and development expense- licenses acquired 0 104,902
Deferred offering costs, accrued but not yet paid $ 196,724 $ 0

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