Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Cash Flows (Unaudited)

v3.25.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net loss $ (6,651,828) $ (803,084)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 5,721 6,422
Acquired in-process research and development 12,000 12,000
Amortization of operating lease right-of-use asset 38,566 34,048
Share-based compensation 60,395 110,400
Financing costs related to ChEF Purchase Agreement 480,200
Non-cash financing costs 7,122
Changes in operating assets and liabilities:    
Accounts receivable (500,000)
Prepaid expenses and other current assets 785,721 618,560
Incentive tax receivable 483,884 408,612
Other assets 15,532 (70,636)
Accounts payable (454,465) (368,681)
Accrued expenses and other current liabilities 376,063 (2,261,988)
Operating lease liability (40,418) (34,972)
Deferred income (18,626)
Net cash used in operating activities (5,381,507) (2,367,945)
Cash flows from investing activities:    
Purchases of in-process research and development (12,000)
Net cash used in investing activities (12,000)
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of issuance costs 7,762,403 3,838,870
Payment of deferred offering costs (15,000)
Proceeds from exercise of warrants, net of issuance costs (13,868) 56,000
Payment of financing costs related to ChEF Purchase Agreement (445,200)
Net cash provided by financing activities 7,303,335 3,879,870
Net increase in cash 1,909,828 1,511,925
Cash, beginning of period 149,456 2,274,259
Cash, end of period 2,059,284 3,786,184
Supplemental disclosure of non-cash operating, investing and financing activities:    
ChEF Purchase Agreement financing costs in accrued expenses 20,000
In-process research and development in accrued expenses 12,000
Deferred offering costs expensed as ChEF Purchase Agreement financing costs 15,000
Common stock issuance costs in accounts payable $ 30,091