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, 2024
Mar. 31, 2023
OPERATING ACTIVITIES    
Net loss $ (18,301,929) $ (72,497,931)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 137,929 128,843
Impairment of intangible assets   3,900,000
Provision for credit losses 3,911,714
Noncash change in right-of-use assets 385,056 376,072
Noncash interest expense, net of interest paid 10,125 1,316,612
Gain on sale of ENTADFI® assets (918,372)  
Share-based compensation 7,041,120 8,682,867
Deferred income taxes 71,492 (185,551)
Change in fair value of derivative liabilities (19,000) (530,000)
Change in fair value of equity securities 571,928  
Provision for obsolete inventory 778,999 192,135
Other 27,215  
Changes in current assets and liabilities:    
Decrease (increase) in accounts receivable 1,721,177 (3,852,786)
Decrease in inventories 1,113,453 761,615
(Increase) decrease in prepaid expenses and other assets (677,258) 3,629,057
Decrease in accounts payable (5,480,787) (4,765,920)
Increase (decrease) in accrued expenses and other current liabilities 2,233,279 (911,573)
Decrease in operating lease liabilities (364,857) (244,853)
Net cash used in operating activities (11,670,430) (60,089,699)
INVESTING ACTIVITIES    
Capital expenditures (40,656) (427,152)
Net cash used in investing activities (40,656) (427,152)
FINANCING ACTIVITIES    
Proceeds from stock option exercises   336,610
Proceeds from premium finance agreement   1,425,174
Installment payments on premium finance agreement (132,975) (508,788)
Net cash provided by financing activities 36,823,630 3,824,547
Net increase (decrease) in cash 25,112,544 (56,692,304)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 9,625,494 80,190,675
CASH AND CASH EQUIVALENTS AT END OF PERIOD 34,738,038 23,498,371
Supplemental disclosure of cash flow information:    
Cash paid for interest 300,142 254,311
Schedule of non-cash investing and financing activities:    
Equity securities received for sale of ENTADFI assets 918,372  
Amortization of deferred costs related to common stock purchase agreement 164,313 78,677
Right-of-use asset recorded in exchange for lease liabilities   264,896
Lincoln Park And Aspire Capital Purchase Agreements [Member]    
FINANCING ACTIVITIES    
Proceeds from sale of shares 1,661,490 $ 2,571,551
Public Offering [Member]    
FINANCING ACTIVITIES    
Proceeds from sale of shares 35,228,564  
Jefferies Sales Agreement [Member]    
FINANCING ACTIVITIES    
Proceeds from sale of shares $ 66,551