Cash Flow

v3.10.0.1
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Jun. 30, 2018
Jun. 30, 2017
OPERATING ACTIVITIES:    
Net loss $ (8,366,200) $ (4,464,600)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 87,700 33,100
Change in provision for doubtful accounts 2,700
Stock-based compensation 1,335,100 1,294,800
Common stock issued to vendors for services 162,400 149,000
Accretion of debt discount and non-cash interest expense 58,900
Changes in operating assets and liabilities:    
Accounts receivable (76,500) (900)
Prepaid expenses and other assets (194,300) (39,900)
Accounts payable and accrued liabilities (409,800) 397,600
Deferred revenue 119,800
Deferred-compensation (133,900) (41,000)
Net cash used in operating activities (7,414,100) (2,671,900)
INVESTING ACTIVITES:    
Purchase of furniture and equipment (55,200) (87,100)
Investment in Arcadian (120,000)
Payment for acquisition of business, net of cash acquired (149,100)
Forgiveness of loan in relation of acquisition (157,500)
Costs incurred to develop intangible assets (22,900)
Net cash used in investing activities (361,800) (230,000)
FINANCING ACTIVITIES:    
Principal payments on note payable (38,300) (41,900)
Principal payments on capital lease (900) (900)
Proceeds from sale of preferred stock and common stock warrants 2,100,000
Proceeds from Aspire Capital purchase agreements 2,858,600 145,000
Proceeds from sale of common stock 2,981,300
Proceeds from stock options exercised 54,200
Deferred offering costs   (90,500)
Net cash provided by financing activities 4,973,600 2,993,000
NET INCREASE (DECREASE) IN CASH (2,802,300) 91,100
CASH AND CASH EQUIVALENTS - BEGINNING OF THE PERIOD 5,449,000 318,200
CASH AND CASH EQUIVALENTS - END OF THE PERIOD 2,646,700 409,300
Cash paid during the period for:    
Interest 6,400 5,800
Income taxes 1,900 48,700
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING & FINANCING ACTIVITIES:    
Long-term borrowings assumed in business combination 651,700
Unpaid deferred offering costs $ 276,700

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