Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.20.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net loss $ (16,744,851) $ (1,991,786)
Adjustments to reconcile net loss to net cash used in operating activities:    
Acquired in-process research and development 6,826,495
Depreciation 5,212
Amortization of operating lease right-of-use asset 30,873
Noncash interest 86,233
Change in operating assets and liabilities:    
Prepaid expenses and other current assets (361,555) (43,945)
Other assets (82,957)
Accounts payable 532,991 318,606
Accrued expenses (248,146) 251,280
Operating lease liability (30,078)
Net cash used in operating activities (10,072,016) (1,379,612)
Cash flows from investing activities:    
Purchases of property and equipment (76,183)
Net cash used in investing activities (76,183)
Cash flows from financing activities:    
Proceeds from the issuance of common stock and warrants, net of issuance costs 19,070,030 2,382,000
Payment to affect the Merger (6,000,000)
Proceeds from the receipt of loan 124,375
Proceeds received from related-party notes 55,000 89,367
Repayments of related-party notes (46,461) (854,554)
Cash received in the Relief acquisition 16,194
Net cash provided by financing activities 13,219,138 1,616,813
Net increase in cash 3,070,939 237,201
Cash, beginning of period 35,653 5,419
Cash, end of period 3,106,592 242,620
Supplemental operating cash flow information:    
Cash paid for interest 99,890
Supplemental disclosure of non-cash investing and financing activities:    
Conversion of convertible promissory note into common stock 1,000,000
Issuance of common stock to settle related-party notes 200,000 220,000
Issuance of common stock for Relief acquisition 6,700,128
Right of use asset and liability recorded upon adoption of ASC 842 $ 255,938