Consolidated Statements of Cash Flows - USD ($)
|
12 Months Ended |
Sep. 30, 2015 |
Sep. 30, 2014 |
| Cash flows from operating activities |
|
|
| Net loss |
$ (4,332,329)
|
$ (2,832,202)
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
| Bad debts expense |
42,514
|
|
| Depreciation and amortization expense |
83,725
|
$ 4,586
|
| Stock issued for services |
224,012
|
298,813
|
| Options and warrants granted for services |
663,626
|
$ 353,911
|
| Loss on disposal of fixed assets |
8,303
|
|
| Loss on impairment of development costs |
28,336
|
$ 1,003,416
|
| Loss on impairment of intangible asset |
300,000
|
|
| Decrease (increase) in assets: |
|
|
| Accounts receivable |
74,385
|
$ (79,449)
|
| Inventory |
92,694
|
(126,292)
|
| Prepaid expenses |
21,323
|
(66,070)
|
| Deposits |
(8,914)
|
(36,035)
|
| Increase (decrease) in liabilities: |
|
|
| Accounts payable |
(63,471)
|
$ 95,967
|
| Accrued expenses |
$ (4,239)
|
|
| Due to related party |
|
$ (123,811)
|
| Deferred revenues |
$ 33,988
|
(189,815)
|
| Net cash used in operating activities |
$ (2,836,047)
|
(1,696,981)
|
| Cash flows from investing activities |
|
|
| Purchase of development costs |
|
(1,003,416)
|
| Purchase of fixed assets |
$ (1,444,984)
|
(28,336)
|
| Purchase of intangible assets |
(300,000)
|
$ (23,607)
|
| Purchase of available-for-sale securities |
(50,000)
|
|
| Net cash used in investing activities |
$ (1,794,984)
|
$ (1,055,359)
|
| Cash flows from financing activities |
|
|
| Proceeds from revolving note due to related party |
|
105,000
|
| Repayment of revolving note due to related party |
|
(98,703)
|
| Proceeds from exercised options |
$ 9,506
|
3,300
|
| Proceeds from sale of preferred stock |
|
5,600,000
|
| Proceeds from sale of common stock |
|
2,210,000
|
| Net cash provided by financing activities |
$ 9,506
|
7,819,597
|
| Net increase (decrease) in cash |
(4,621,525)
|
5,067,257
|
| Cash - beginning |
5,102,620
|
35,363
|
| Cash - ending |
$ 481,095
|
5,102,620
|
| Supplemental disclosures: |
|
|
| Interest paid |
|
$ 218
|
| Income taxes paid |
|
|
| Non-cash investing and financing activities: |
|
|
| Note payable exchanged for preferred stock |
|
$ 400,000
|
| Value of preferred stock converted to common stock |
$ 1,498,558
|
|