Financials

v3.7.0.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2017
Sep. 30, 2016
Current assets:    
Cash and cash equivalents $ 981 $ 3,155
Accounts receivable 603 750
Prepaid expenses and other current assets 149 230
Total current assets 1,733 4,135
Investment in CPEC LLC 32 32
Total assets 1,765 4,167
Current liabilities:    
Accounts payable and accrued expenses 638 972
Total current liabilities 638 972
Total liabilities 638 972
Commitments and Contingencies (Note H)
Stockholders' equity:    
Common stock, $.01 par value per share, 200,000,000 shares authorized; 152,085,825 shares issued and outstanding as of March 31, 2017 and September 30, 2016 1,520 1,520
Additional paid-in capital 191,917 191,863
Accumulated deficit (192,310) (190,188)
Total stockholders' equity (deficit) 1,127 3,195
Total liabilities and stockholders' equity (deficit) 1,765 4,167
Series A nonredeemable convertible preferred stock    
Stockholders' equity:    
Preferred stock, $.01 par value per share, 10,000,000 shares authorized: 0 0
Series B nonredeemable convertible preferred stock    
Stockholders' equity:    
Preferred stock, $.01 par value per share, 10,000,000 shares authorized: 0 0
Series C nonredeemable convertible preferred stock    
Stockholders' equity:    
Preferred stock, $.01 par value per share, 10,000,000 shares authorized: $ 0 $ 0
v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Mar. 31, 2017
Mar. 31, 2016
Revenue:        
Contract revenue $ 129 $ 565 $ 212 $ 870
Costs and expenses:        
Research and development 594 501 1,082 993
General and administrative 570 693 1,252 1,254
Total costs and expenses 1,164 1,194 2,334 2,247
Loss from operations (1,035) (629) (2,122) (1,377)
Interest expense 0 0 0 (285)
Net loss (1,035) (629) (2,122) (1,662)
Deemed dividend on Series C preferred stock 0 1,906 0 2,486
Net loss attributable to common stockholders $ (1,035) $ (2,535) $ (2,122) $ (4,148)
Net loss per weighted share attributable to common stockholders:        
Basic (Note E) $ (0.01) $ (0.02) $ (0.01) $ (0.03)
Diluted (Note E) $ (0.01) $ (0.02) $ (0.01) $ (0.03)
Weighted average common shares outstanding:        
Basic 152,085 151,560 152,085 145,466
Diluted 152,085 151,560 152,085 145,466
v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net loss $ (2,122) $ (1,662)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of discount on note payable to shareholders 0 273
Accrued interest 0 12
Non-cash compensation 54 74
Change in assets and liabilities:    
Accounts receivable 147 219
Deferred subcontractor cost 0 (176)
Prepaid expenses and other current assets 81 (111)
Accounts payable and accrued expenses (334) (567)
Deferred revenue 0 183
Net cash used in operating activities (2,174) (1,755)
Cash flows from financing activities:    
Proceeds from issuance of common stock and common stock warrants, net 0 2,005
Proceeds from issuance of preferred stock and common stock warrants, net 0 4,165
Net cash provided by financing activities 0 6,170
Net (decrease) increase in cash and cash equivalents (2,174) 4,415
Cash and cash equivalents at beginning of period 3,155 94
Cash and cash equivalents at end of period 981 4,509
Supplemental disclosure of non-cash financing activities:    
Conversion of note payable to shareholders for common stock and warrants 0 1,000
Conversion of accrued interest on note payable to shareholders for common stock and warrants 0 12
Issuance of warrants for financing costs 0 266
Deemed dividend on Series C preferred stock $ 0 $ 2,486