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 ($)
 6 Months Ended
Mar. 31, 2023
Mar. 31, 2022
OPERATING ACTIVITIES    
Net loss $ (75,635,085) $ (20,557,836)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 128,843 90,289
Impairment of intangible assets 3,900,000  
Provision for credit losses 3,911,714 (4,000)
Noncash change in right-of-use assets 376,072 229,767
Noncash interest expense, net of interest paid 1,316,612 882,305
Share-based compensation 8,682,867 4,005,369
Deferred income taxes (185,551) 5,165
Change in fair value of derivative liabilities (530,000) 1,438,000
Provision for obsolete inventory 192,135 12,552
Changes in current assets and liabilities:    
Increase in accounts receivable (3,852,786) (764,466)
Decrease (increase) in inventories 761,615 (853,762)
Decrease (increase) in prepaid expenses and other assets 4,480,405 (1,358,084)
(Decrease) increase in accounts payable (4,765,920) 4,108,300
Increase in accrued expenses and other current liabilities 1,374,233 378,567
Decrease in operating lease liabilities (244,853) (216,635)
Net cash used in operating activities (60,089,699) (12,604,469)
INVESTING ACTIVITIES    
Cash proceeds from sale of PREBOOST business   2,500,000
Capital expenditures (427,152) (487,434)
Net cash (used in) provided by investing activities (427,152) 2,012,566
FINANCING ACTIVITIES    
Proceeds from stock option exercises 336,610 256,966
Proceeds from sale of shares under common stock purchase agreement 2,571,551  
Proceeds from premium finance agreement 1,425,174  
Installment payments on premium finance agreement (508,788)  
Cash paid for debt portion of finance lease   (9,093)
Net cash provided by financing activities 3,824,547 247,873
Net decrease in cash (56,692,304) (10,344,030)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 80,190,675 122,359,535
CASH AND CASH EQUIVALENTS AT END OF PERIOD 23,498,371 112,015,505
Supplemental disclosure of cash flow information:    
Cash paid for interest 254,311 1,489,079
Schedule of non-cash investing and financing activities:    
Right-of-use assets recorded in exchange for lease liabilities 264,896 $ 4,392,583
Amortization of deferred costs related to common stock purchase agreement $ 78,677