Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements Cash Flows (Unaudited)

v3.21.1
Consolidated Statements Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net loss $ (11,916,347) $ (4,965,801)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 6,163 2,131
Amortization of operating lease right-of-use asset 40,146 12,205
Share-based compensation 740,110
Non-cash interest 624 (14,142)
Change in operating assets and liabilities:    
Prepaid expenses and other current assets (371,464) (15,383)
Other assets 82,959 (82,959)
Accounts payable (144,027) 1,835,322
Accrued expenses 832,058 (310,590)
Operating lease liability (39,507) (11,885)
Net cash used in operating activities (10,769,285) (3,551,102)
Cash flows from investing activities:    
Purchases of property and equipment (65,265)
Net cash used in investing activities (65,265)
Cash flows from financing activities:    
Proceeds from the issuance of common stock, net of issuance costs 10,178,627 4,070,030
Related party receivable (200,000)
Proceeds from the exercise of warrants 2
Proceeds received from related-party notes 30,000
Repayments of related-party notes (20,436) (46,461)
Net cash provided by financing activities 10,158,193 3,853,569
Net (decrease) increase in cash (611,092) 237,202
Cash, beginning of period 7,349,903 35,653
Cash, end of period 6,738,811 272,855
Supplemental disclosure of non-cash investing and financing activities:    
Net settlement of warrants 243
Issuance of common stock to settle related-party notes 200,000
Right of use asset and liability recorded upon adoption of ASC 842 $ 255,938