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LIQUIDITY and GOING CONCERN
6 Months Ended
Mar. 31, 2022
LIQUIDITY and GOING CONCERN  
LIQUIDITY and GOING CONCERN

2. LIQUIDITY and GOING CONCERN   

 

The Company has cash and cash equivalents of $11,187,073 and net working capital of $8,355,273 (exclusive of convertible notes payable and right of use liabilities) as of March 31, 2022. The Company anticipates that it will record losses from operations for the foreseeable future. The Company believes that it has enough available cash to operate until June 30, 2023. As of March 31, 2022, the Company’s accumulated deficit was $92,823,851. The Company has had limited capital resources and intends to seek additional cash via equity and debt offerings.