Financials

v3.7.0.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2017
Sep. 30, 2016
Current assets:    
Cash and cash equivalents $ 403 $ 3,155
Accounts receivable 313 750
Prepaid expenses and other current assets 46 230
Total current assets 762 4,135
Investment in CPEC LLC 32 32
Total assets 794 4,167
Current liabilities:    
Accounts payable and accrued expenses 587 972
Total current liabilities 587 972
Total liabilities 587 972
Commitments and Contingencies (Note H)
Stockholders’ equity:    
Common stock, $.01 par value per share, 200,000,000 shares authorized; 152,085,825 and 152,085,825 shares issued and outstanding as of June 30, 2017 and September 30, 2016, respectively 1,520 1,520
Additional paid-in capital 191,946 191,863
Accumulated deficit (193,259) (190,188)
Total stockholders' equity 207 3,195
Total liabilities and stockholders' equity 794 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 9 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenue:        
Contract revenue $ 13 $ 660 $ 225 $ 1,530
Costs and expenses:        
Research and development 425 904 1,508 1,897
General and administrative 537 628 1,788 1,883
Total costs and expenses 962 1,532 3,296 3,780
Loss from operations (949) (872) (3,071) (2,250)
Interest expense 0 0 0 (285)
Net loss (949) (872) (3,071) (2,535)
Deemed dividend on Series C preferred stock 0 0 0 2,486
Net loss attributable to common stockholders $ (949) $ (872) $ (3,071) $ (5,021)
Net loss per weighted share attributable to common stockholders:        
Basic (Note E) $ (0.01) $ (0.01) $ (0.02) $ (0.03)
Diluted (Note E) $ (0.01) $ (0.01) $ (0.02) $ (0.03)
Weighted average common shares outstanding:        
Basic (Note E) 152,086 151,652 152,086 147,521
Diluted (Note E) 152,086 151,652 152,086 147,521
v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net loss $ (3,071) $ (2,535)
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 83 108
Change in assets and liabilities:    
Accounts receivable 437 843
Deferred subcontractor cost 0 (5)
Prepaid expenses and other current assets 184 (272)
Accounts payable and accrued expenses (385) (937)
Deferred revenue 0 5
Net cash used in operating activities (2,752) (2,508)
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 (2,752) 3,662
Cash and cash equivalents at beginning of period 3,155 94
Cash and cash equivalents at end of period 403 3,756
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
Conversion of Series B preferred stock to common stock $ 0 $ 5