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Income Taxes (Tables)

12 Months Ended

Sep. 30, 2019

Income Tax Disclosure [Abstract]

Components of the Net Deferred Tax (Liability)

Components of the net deferred tax asset (liability) at September 30, 2019 and 2018 are as follows:

		2019			2018
Deferred tax assets:
Accrued compensation	$	1,310,466			$	1,085,908
Stock compensation		3,609,756				4,188,368
Capitalized research and development		926,026				1,227,137
Fixed Assets		438,882				404,836
Net operating losses		105,372,571				114,142,741
Intangible Assets		3,590,090				3,854,752
California Alternative Minimum Tax		173,553				—
Deferred Rent		821,317				566,535
Capital Loss		709,779				709,779
Total deferred tax assets		116,952,440				126,180,056
Valuation allowance		(108,232,402	)			(116,875,075	)
Deferred tax liabilities:
State taxes		(8,720,038	)			(9,304,981	)
Total deferred tax liability		(8,720,038	)			(9,304,981	)
Net deferred tax assets (liabilities)	$	—			$	—

Provisions for Income Taxes

The provisions for income taxes for the years ended September 30, 2019 and 2018 are as follows:

	2019				2018
Federal:
Current	$	—			$	—
Deferred		—				—
Total Federal	$	—			$	—
State:
Current	$	173,553			$	2,400
Deferred		—				—
Total State	$	173,553			$	2,400
Provision from income taxes	$	173,553			$	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, 2019 and 2018:

		2019			2018
At U.S. federal statutory rate		21.0	%			21.0	%
State taxes, net of federal effect		7.3				7.9
Stock compensation		(15.0	)			2.6
Mark-to-market adjustments		0.0				0.2
Valuation allowance		(13.0	)			36.2
Federal tax rate change in 2018		—				(67.9	)
Effective income tax rate		0.3	%			0.0	%

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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
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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.

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-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
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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.

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-Name Accounting Standards Codification
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-SubTopic 10
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