Annual report pursuant to Section 13 and 15(d)

Consolidated Statements Cash Flows

v3.20.4
Consolidated Statements Cash Flows - USD ($)
 12 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net loss $ (24,265,115) $ (4,871,211)
Adjustments to reconcile net loss to net cash used in operating activities:    
Acquired in-process research and development 6,826,495
Depreciation 8,294
Amortization of operating lease right-of-use asset 50,019
Share-based compensation 370,055
Common stock issued for consulting services 430,000
Amortization of debt discount related to beneficial conversion feature 86,233
Change in operating assets and liabilities:    
Prepaid expenses and other current assets (254,326) (4,101)
Other assets (82,959)
Accounts payable 168,806 1,389,567
Accrued expenses and other liabilities 1,112,698 743,807
Operating lease liability (48,746)
Deferred income 500,000
Net cash used in operating activities (15,614,779) (2,225,705)
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 issuance of common stock and warrants, net of issuance costs 19,070,030 2,782,000
Proceeds from the exercise of warrants, net of issuance costs 9,790,306
Payment to affect the Merger (6,000,000)
Proceeds from the receipt of loan 124,878
Payment of principal of convertible promissory notes (390,000)
Proceeds received from related-party notes 114,539 338,493
Repayments of related-party notes (110,735) (474,554)
Cash received in the Relief acquisition 16,194
Net cash provided by financing activities 23,005,212 2,255,939
Net increase in cash 7,314,250 30,234
Cash, beginning of year 35,653 5,419
Cash, end of year 7,349,903 35,653
Supplemental operating cash flow information:    
Cash paid for interest 99,890
Supplemental disclosure of non-cash investing and financing activities:    
Issuance of common stock for Relief acquisition 6,700,128
Right of use asset and liability recorded upon adoption of ASC 842 255,938
Conversion of convertible promissory note into common stock 1,000,000
Issuance of common stock to settle related-party notes 200,000 220,000
Common stock issuance costs in accrued expenses $ 15,000