Annual report pursuant to Section 13 and 15(d)

Consolidated Statements Cash Flows

v3.21.2
Consolidated Statements Cash Flows - USD ($)
 12 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net loss $ (24,983,961) $ (24,265,115)
Adjustments to reconcile net loss to net cash used in operating activities:    
Acquired in-process research and development 6,826,495
Depreciation 12,456 8,294
Amortization of operating lease right-of-use asset 82,706 50,019
Share-based compensation 1,375,423 370,055
Non-cash interest expense 623
Forgiveness of note payable (125,501)
Change in operating assets and liabilities:    
Prepaid expenses and other current assets (901,736) (254,326)
Other assets 82,959 (82,959)
Accounts payable 1,723,740 168,806
Accrued expenses and other liabilities 246,732 1,112,698
Operating lease liability (82,060) (48,746)
Deferred income 16,374 500,000
Net cash used in operating activities (22,552,245) (15,614,779)
Cash flows from investing activities:    
Purchases of property and equipment (3,623) (76,183)
Net cash used in investing activities (3,623) (76,183)
Cash flows from financing activities:    
Proceeds from issuance of common stock and warrants, net of issuance costs 42,848,466 19,070,030
Proceeds from the exercise of warrants, net of issuance costs 2 9,790,306
Payment to affect the Merger (6,000,000)
Proceeds from the receipt of loan 124,878
Proceeds received from related-party notes 114,539
Repayments of related-party notes (20,436) (110,735)
Cash received in the Relief acquisition 16,194
Net cash provided by financing activities 42,828,032 23,005,212
Net increase in cash 20,272,164 7,314,250
Cash, beginning of year 7,349,903 35,653
Cash, end of year 27,622,067 7,349,903
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
Net settlement of warrants 453
Issuance of common stock to settle related-party notes 200,000
Issuance of common stock on vesting of restricted stock units $ 33