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v3.20.1

Consolidated Statements of Cash Flows - USD ($) | 6 Months Ended
--- | ---
Mar. 31, 2020 | Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES: |  |
Net income (loss) | $ (22,509,298) | $ 35,934,235
Stock-based compensation | 17,463,455 | 5,318,882
Depreciation and amortization | 2,631,472 | 2,353,319
Amortization/(accretion) of note premiums | 419,212 | 330,229
Changes in operating assets and liabilities: |  |
Accounts receivable | (604,410) | (13,094,965)
Prepaid expenses and other current assets | 46,520 | (1,440,287)
Deferred revenue | (49,630,006) | 120,622,138
Accounts payable | 5,767,770 | 1,256,092
Accrued expenses | (5,424,591) | (2,340,651)
Other | 725,481 | (240,737)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | (51,114,395) | 148,698,255
CASH FLOWS FROM INVESTING ACTIVITIES: |  |
Purchases of property and equipment | (7,929,100) | (946,788)
Purchases of marketable securities | (180,523,424) | (90,266,001)
Proceeds from sale of marketable securities | 19,602,967 | 12,239,219
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | (168,849,557) | (78,973,570)
CASH FLOWS FROM FINANCING ACTIVITIES: |  |
Principal payments on notes payable |  | (2,415,150)
Proceeds from the exercises of stock options | 4,331,577 | 3,674,731
Proceeds from the issuance of common stock | 250,478,974 | 60,521,729
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | 254,810,551 | 61,781,310
NET INCREASE (DECREASE) IN CASH | 34,846,599 | 131,505,995
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 221,804,128 | 30,133,213
CASH AND CASH EQUIVALENTS AT END OF PERIOD | $ 256,650,727 | 161,639,208
Supplementary disclosures: |  |
Interest paid |  | (27,437)
Income Taxes Paid |  | $ (2,400)

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