Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements Cash Flows (Unaudited)

v3.20.4
Consolidated Statements Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:    
Net loss $ (5,877,240) $ (2,469,054)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 3,081
Amortization of operating lease right-of-use asset 19,719
Share-based compensation 370,055
Non-cash interest 316
Change in operating assets and liabilities:    
Prepaid expenses and other current assets (63,132) (15,383)
Accounts payable 201,922 1,337,625
Accrued expenses 382,836 (661,169)
Operating lease liability (19,242)
Net cash used in operating activities (4,981,685) (1,807,981)
Cash flows from investing activities:    
Purchases of property and equipment (21,748)
Net cash used in investing activities (21,748)
Cash flows from financing activities:    
Proceeds from the issuance of common stock, net of issuance costs 2,700,030
Proceeds from the exercise of warrants 2
Proceeds received from related-party notes 30,000
Repayments of related-party notes (20,124) (46,461)
Net cash provided by (used in) financing activities (20,122) 2,683,569
Net increase (decrease) in cash (5,001,807) 853,840
Cash, beginning of period 7,349,903 35,653
Cash, end of period 2,348,096 889,493
Supplemental disclosure of non-cash investing and financing activities:    
Non-cash purchase of property and equipment 26,666
Issuance of common stock to settle related-party notes $ 200,000