Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 9 Months Ended
Jun. 30, 2021
Jun. 30, 2020
OPERATING ACTIVITIES    
Net income (loss) $ 11,688,854 $ (7,140,990)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 170,713 347,159
Noncash change in right-of-use assets 282,843 240,282
Noncash interest expense, net of interest paid (2,923,628) 3,476,079
Share-based compensation 3,687,663 1,981,492
Gain on sale of PREBOOST business (18,410,158)  
Deferred income taxes (2,912,778) (198,202)
Provision for obsolete inventory 175,085 227,982
Change in fair value of derivative liabilities 2,029,000 94,000
Other (3,000) 7,500
Changes in current assets and liabilities:    
(Increase) decrease in accounts receivable (3,083,306) 194,471
Increase in inventory (416,867) (1,775,018)
Increase in prepaid expenses and other assets (9,610,334) (4,794)
Increase in accounts payable 2,115,007 648,239
Increase in accrued expenses and other current liabilities 2,783,696 556,330
Decrease in operating lease liabilities (337,346) (243,514)
Net cash used in operating activities (14,764,556) (1,588,984)
INVESTING ACTIVITIES    
Cash proceeds from sale of PREBOOST business 15,000,000  
Capital expenditures (154,416) (73,444)
Net cash provided by (used in) investing activities 14,845,584 (73,444)
FINANCING ACTIVITIES    
Proceeds from sale of shares in public offering, net of fees 108,099,988  
Payment of costs related to public offering (137,690)  
Installment payments on SWK credit agreement   (3,325,180)
Proceeds from stock option exercises 1,538,147 415,464
Proceeds from premium finance agreement 1,061,442 836,780
Installment payments on premium finance agreement (1,061,442) (555,920)
Proceeds from sale of shares under common stock purchase agreement   13,399,999
Cash paid for debt portion of finance lease (14,283) (9,444)
Net cash provided by financing activities 109,486,162 10,761,699
Net increase in cash 109,567,190 9,099,271
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 13,588,778 6,295,152
CASH AND CASH EQUIVALENTS AT END OF PERIOD 123,155,968 15,394,423
Supplemental disclosure of cash flow information:    
Cash paid for interest 6,651,887  
Schedule of non-cash investing and financing activities:    
Right-of-use assets recorded in exchange for lease liabilities   1,253,233
Notes receivable for sale of PREBOOST business 5,000,000  
Amortization of deferred costs related to common stock purchase agreement   390,931
Shares issued in connection with common stock purchase agreement   680,937
Increase in other assets from accrued expenses   $ 50,284
Costs related to public offering in accrued expenses and other current liabilities $ 20,000