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Income Taxes (Tables)

12 Months Ended

Sep. 30, 2017

Income Tax Disclosure [Abstract]

Components of the Net Deferred Tax (Liability)

Components of the net deferred tax asset (liability) at September 30, 2017 and 2016 are as follows:

		2017			2016
Deferred tax assets:
Accrued compensation	$	1,337,619			$	1,691,050
Stock compensation		5,670,468				7,224,958
Capitalized research and development		2,196,542				2,957,528
Fixed Assets		203,477				—
Net operating losses		132,119,837				125,120,957
Intangible Assets		5,358,700				5,544,091
Deferred Revenue		1,068,206				—
Deferred Rent		865,675				—
Capital Loss		1,020,162				—
Total deferred tax assets		149,840,686				142,538,584
Valuation allowance		(136,625,436	)			(128,695,371	)
Deferred tax liabilities:
State taxes		(13,215,250	)			(13,804,268	)
Fixed assets		—				(38,945	)
Total deferred tax liability		(13,215,250	)			(13,843,213	)
Net deferred tax assets (liabilities)	$	—			$	—

Provisions for Income Taxes

The provisions for income taxes for the years ended September 30, 2017 and 2016 are as follows:

	2017				2016
Federal:
Current		—				—
Deferred		—				—
Total Federal		—				—
State:
Current	$	2,400				2,400
Deferred		—				—
Total State	$	2,400				2,400
Provision from income taxes	$	2,400				2,400

Summary of Effective Income Tax Rate Reconciliation

The Company’s effective income tax rate differs from the statutory federal income tax rate as follows for the years ended September 30, 2017 and 2016:

		2017			2016
At U.S. federal statutory rate		34.0	%			34.0	%
State taxes, net of federal effect		4.9				9.0
Stock compensation		(5.8	)			(1.1	)
Mark-to-market adjustments		0.9				(0.1	)
Valuation allowance		(23.1	)			(41.1	)
True-up on deferred taxes		(3.0	)			—
State blended rate change		(5.7	)			—
Other		(2.2	)			(0.7	)
Effective income tax rate		0.0	%			0.0	%

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- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

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