Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Cash Flows

v3.25.3
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net loss $ (16,011,487) $ (7,437,232)
Adjustments to reconcile net loss to net cash used in operating activities:    
Acquired in-process research and development 114,399 12,000
Depreciation 9,617 12,843
Amortization of operating lease right-of-use asset 79,642 70,272
Share-based compensation 199,595 231,190
Financing costs related to ChEF Purchase Agreement 520,200 370,426
Non-cash financing costs 3,044 1,732
Amortization of debt discount 556,089
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 735,794 470,987
Incentive tax receivable 247,233 24,496
Other assets 6,996 (79,941)
Accounts payable 630,384 48,423
Accrued expenses and other current liabilities 165,586 (2,241,246)
Deferred income (18,626)
Operating lease liability (84,291) (73,047)
Net cash used in operating activities (12,827,199) (8,607,723)
Cash flows from investing activities:    
Purchases of in-process research and development (12,000) (12,000)
Net cash used in investing activities (12,000) (12,000)
Cash flows from financing activities:    
Proceeds from sale of common stock, net of issuance costs 7,803,453 3,896,577
Proceeds from sale of preferred stock and warrants, net of issuance costs 5,500,000
Proceeds from issuance of convertible notes and warrants, net of issuance costs 2,022,785
Payment of deferred offering costs (15,000)
Payment of financing costs related to ChEF Purchase Agreement (465,200) (370,426)
Proceeds from exercise of warrants, net of issuance costs 11,185,971 2,983,769
Net cash provided by financing activities 26,047,009 6,494,920
Net increase (decrease) in cash, cash equivalents and restricted cash 13,207,810 (2,124,803)
Cash, cash equivalents and restricted cash at beginning of year 149,456 2,274,259
Cash, cash equivalents and restricted cash at end of year 13,357,266 149,456
Cash and cash equivalents 5,120,264 149,456
Restricted cash 8,237,002
Total cash, cash equivalents and restricted cash 13,357,266 149,456
Supplemental disclosure of non-cash operating, investing and financing activities:    
Conversion of convertible notes into preferred stock 1,443,911
Net settlement of warrants 9
ChEF Purchase Agreement financing costs in accounts payable 40,000
In-process research and development in accounts payable 102,399
Warrant issuance costs in accounts payable $ 13,868