Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Dec. 31, 2015
Dec. 31, 2014
OPERATING ACTIVITIES    
Net loss $ (6,145,462) $ (4,598,337)
Adjustments to reconcile net loss to net cash used by operating activities:    
Common stock issued for services 137,424 28,760
Warrants issued for services   8,559
Stock option expense 316,819 362,028
Change in fair value of contingent consideration 2,557,549 683,386
Share in losses on investment in joint venture   26,650
Depreciation 15,042 7,636
Amortization of intangible assets 282,698 297,986
Changes in operating assets and liabilities    
Prepaid expenses and deposits (1,439,033) (445,523)
Accounts payable and accrued expenses 948,522 890,450
Net Cash Used in Operating Activities (3,326,441) (2,738,405)
INVESTING ACTIVITIES    
Purchase of property and equipment (10,550)  
Net Cash Used in Investing Activities (10,550)  
FINANCING ACTIVITIES    
Proceeds from warrants exercised for cash 13,540 3,000
Repayments of short-term notes payable (48,063) (43,899)
Net Cash Used in Financing Activities (34,523) (40,899)
NET CHANGE IN CASH (3,371,514) (2,779,304)
CASH AT BEGINNING OF PERIOD 28,697,323 13,220,494
CASH AT END OF PERIOD 25,325,809 10,441,190
CASH PAID FOR:    
Interest 406 433
NON CASH FINANCING ACTIVITIES:    
Common stock issued to settle accounts payable   $ 50,000
Settlement of contingent consideration $ 2,061,136