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 ($)
3 Months Ended
Dec. 31, 2023
Dec. 31, 2022
OPERATING ACTIVITIES    
Net loss $ (8,275,981) $ (38,708,957)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 72,129 63,218
Noncash change in right-of-use assets 198,747 186,132
Noncash interest expense, net of interest paid (28,147) 743,919
Gain on sale of ENTADFI® assets (918,372)  
Share-based compensation 3,406,949 4,845,269
Deferred income taxes (81,286) (103,819)
Change in fair value of derivative liabilities 2,000 670,000
Change in fair value of equity securities 379,898  
Other 12,958 2,921
Changes in current assets and liabilities:    
Decrease in accounts receivable 2,123,571 400,585
Increase in inventories (201,814) (116,604)
Increase in prepaid expenses and other assets (1,340,373) 656,817
Decrease in accounts payable (2,495,250) (11,436,432)
Increase in accrued expenses and other current liabilities 1,295,516 8,367,220
Decrease in operating lease liabilities (170,934) (104,297)
Net cash used in operating activities (6,020,389) (34,534,028)
INVESTING ACTIVITIES    
Capital expenditures   (285,565)
Net cash used in investing activities   (285,565)
FINANCING ACTIVITIES    
Proceeds from stock option exercises   257,132
Proceeds from premium finance agreement   1,425,174
Installment payments on premium finance agreement (132,975) (126,201)
Net cash provided by financing activities 36,973,954 1,556,105
Net increase (decrease) in cash 30,953,565 (33,263,488)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 9,625,494 80,190,675
CASH AND CASH EQUIVALENTS AT END OF PERIOD 40,579,059 46,927,187
Supplemental disclosure of cash flow information:    
Cash paid for interest 193,104 $ 129,311
Schedule of non-cash investing and financing activities:    
Equity securities received for sale of ENTADFI assets 918,372  
Costs related to public offering in accounts payable or accrued expenses and other current liabilities 149,473  
Amortization of deferred costs related to common stock purchase agreement 164,313  
Lincoln Park And Aspire Capital Purchase Agreements [Member]    
FINANCING ACTIVITIES    
Proceeds from sale of shares 1,661,490  
Public Offering [Member]    
FINANCING ACTIVITIES    
Proceeds from sale of shares 35,378,888  
Jefferies Sales Agreement [Member]    
FINANCING ACTIVITIES    
Proceeds from sale of shares $ 66,551