Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.24.1.1.u2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net loss $ (803,084) $ (11,209,213)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 6,422 6,422
Acquired in-process research and development 12,000 112,000
Amortization of operating lease right-of-use asset 34,048 30,885
Share-based compensation 110,400 148,615
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 618,560 435,102
Incentive tax receivable 408,612 270,295
Other assets (70,636)
Accounts payable (368,681) (386,979)
Accrued expenses and other current liabilities (2,261,988) 74,250
Operating lease liability (34,972) (18,381)
Deferred income (18,626) (73,700)
Net cash used in operating activities (2,367,945) (10,610,704)
Cash flows from investing activities:    
Purchase of in-process research and development (261,250)
Net cash used in investing activities (261,250)
Cash flows from financing activities:    
Proceeds from the issuance of common stock, net of issuance costs 3,838,870 19,209,252
Payment of deferred offering costs (15,000)
Proceeds from exercise of warrants 56,000
Net cash provided by financing activities 3,879,870 19,209,252
Net increase in cash 1,511,925 8,337,298
Cash, beginning of period 2,274,259 3,052,879
Cash, end of period 3,786,184 11,390,177
Supplemental disclosure of non-cash operating, investing and financing activities:    
In-process research and development in accounts payable and accrued expenses 12,000 12,000
Deferred offering costs charged against proceeds from sale of common stock 32,340
Common stock issuance costs in accounts payable $ 208,932