Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.24.4
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net loss $ (7,437,232) $ (18,832,694)
Adjustments to reconcile net loss to net cash used in operating activities:    
Acquired in-process research and development 12,000 282,000
Depreciation 12,843 12,845
Amortization of operating lease right-of-use asset 70,272 62,905
Share-based compensation 231,190 248,626
Financing costs related to ChEF Purchase Agreement 370,426
Non-cash financing costs 1,732
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 470,987 (33,653)
Incentive tax receivable 24,496 (69,269)
Other assets (79,941) (414,206)
Accounts payable 48,423 (2,631,215)
Accrued expenses and other current liabilities (2,241,246) 231,953
Deferred income (18,626) (147,805)
Operating lease liability (73,047) (51,329)
Net cash used in operating activities (8,607,723) (21,341,842)
Cash flows from investing activities:    
Purchases of in-process research and development (12,000) (443,250)
Net cash used in investing activities (12,000) (443,250)
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of issuance costs 3,896,577 21,006,371
Payment of deferred offering costs (15,000)
Payment of financing costs related to ChEF Purchase Agreement (370,426)
Proceeds from exercise of warrants, net of issuance costs 2,983,769 849
Repayments of related party notes (748)
Net cash provided by financing activities 6,494,920 21,006,472
Net decrease in cash (2,124,803) (778,620)
Cash, beginning of year 2,274,259 3,052,879
Cash, end of year 149,456 2,274,259
Supplemental disclosure of non-cash operating, investing and financing activities:    
Deferred offering costs charged against proceeds from sale of common stock 32,340
Deferred offering costs in accounts payable and accrued expenses 49,988
Net settlement of warrants 9 52
Common stock and warrant issuance costs in accounts payable and accrued expenses $ 13,868 $ 78,073