XML 21 R6.htm IDEA: XBRL DOCUMENT v3.24.0.1
CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
3 Months Ended
Dec. 31, 2023
Dec. 31, 2022
CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED)    
Net loss $ (6,709,524) $ (7,853,509)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,004,633 988,543
Non-cash lease expense 2,504 5,078
Share-based payments for services 218,386 148,858
Equity-based compensation 1,383,909 1,692,831
Common stock contributed to 401(k) plan 48,907 50,178
(Increase)/decrease in assets:    
Prepaid expenses (100,546) 111,537
Supplies used for R&D and manufacturing (98,765) 212,687
Deposits (11,884) 0
Increase/(decrease) in liabilities:    
Accounts payable (765,078) (115,285)
Accrued expenses (8,924) 13,346
Due to employees 148,454 79,087
Net cash used in operating activities (4,887,928) (4,666,649)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (51,650) (53,580)
Expenditures for patent costs (13,211) 0
Net cash used in investing activities (64,861) (53,580)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock 4,980,000 0
Payments of stock issuance costs (504,913) (9,010)
Proceeds from the exercise of warrants 0 447,291
Payments on obligations under finance leases (426,593) (372,871)
Net cash provided by financing activities 4,048,494 65,410
NET DECREASE IN CASH AND CASH EQUIVALENTS (904,295) (4,654,819)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 4,145,735 22,672,138
CASH AND CASH EQUIVALENTS, END OF PERIOD 3,241,440 18,017,319
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Property and equipment purchases included in current liabilities 0 105,318
Finance lease obligation included in accounts payable 714 1,853
Prepaid consulting services paid with issuance of common stock 202,307 91,623
Financing costs included in current liabilities 43,019 0
Cash paid for interest $ 244,659 $ 277,853