• Filing Date: 2019-02-14
  • Form Type: 10-Q
  • Description: Quarterly report
v3.10.0.1
BALANCE SHEETS - USD ($)
Dec. 31, 2018
Sep. 30, 2018
CURRENT ASSETS:    
Cash and cash equivalents $ 6,682,205 $ 10,310,044
Receivables 128,762 118,657
Prepaid expenses 433,783 364,622
Inventory used for R&D and manufacturing 682,525 645,238
Total current assets 7,927,275 11,438,561
Plant, property and equipment, net 16,082,143 16,218,851
Patent costs, net 252,882 258,093
Deposits 1,670,917 1,670,917
Total Assets 25,933,217 29,586,422
CURRENT LIABILITIES:    
Accounts payable 4,903,189 5,743,913
Accrued expenses 77,710 205,310
Due to employees 896,833 764,941
Derivative instruments, current portion 0 2,498,606
Other current liabilities 13,769 14,029
Total current liabilities 5,891,501 9,226,799
Derivative instruments - net of current portion 3,760,758 6,818,458
Lease Liability 13,414,185 13,379,962
Deferred income 126,795 126,795
Other liabilities 32,126 33,492
Total liabilities 23,225,365 29,585,506
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY    
Preferred stock, $.01 par value-200,000 shares authorized; -0- shares issued and outstanding 0 0
Common stock, $.01 par value - 600,000,000 shares authorized; 27,843,327 and 28,034,487 shares issued and outstanding at December 31, 2018 and September 30, 2018, respectively 278,435 280,346
Additional paid-in capital 332,775,129 331,312,184
Accumulated deficit (330,345,712) (331,591,614)
Total stockholders' equity 2,707,852 916
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 25,933,217 $ 29,586,422