Cash Flow

v3.19.1
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Mar. 31, 2019
Mar. 31, 2018
OPERATING ACTIVITIES:    
Net loss $ (5,414,100) $ (5,429,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 60,300 57,500
Change in provision for doubtful accounts 6,300 1,200
Stock-based compensation 775,300 593,000
Common stock issued to vendors for services 52,600 25,800
Accretion of debt discount 46,700 35,500
Changes in operating assets and liabilities:    
Accounts receivable (97,400) (156,200)
Prepaid expenses and other assets (800) (97,200)
Accounts payable and accrued liabilities 559,600 112,400
Deferred revenue (7,600) 125,000
Deferred compensation 183,000 (8,300)
Net cash used in operating activities (3,836,100) (4,740,300)
INVESTING ACTIVITES:    
Purchase of furniture and equipment (9,100) (55,200)
Payment for acquisition of business, net of cash acquired (306,600)
Net cash used in investing activities (9,100) (361,800)
FINANCING ACTIVITIES:    
Principal payments on note payable (17,500) (34,100)
Principal payments on capital lease (600) (600)
Proceeds from sale of common stock, net of costs 1,811,800 2,100,000
Net cash provided by financing activities 1,793,700 2,065,300
NET INCREASE (DECREASE) IN CASH (2,051,500) (3,036,800)
CASH AND CASH EQUIVALENTS - BEGINNING OF THE PERIOD 3,254,700 5,449,000
CASH AND CASH EQUIVALENTS - END OF THE PERIOD 1,203,200 2,412,200
Cash paid during the period for:    
Interest 2,000 4,700
Income taxes 2,300 1,900
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING & FINANCING ACTIVITIES:    
Long-term borrowings assumed in business combination $ 651,700

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