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ACQUISITION OF P2K LABS, INC. (Tables) | 6 Months Ended
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Mar. 31, 2020
Accounting Policies [Abstract] |
Fair value consideration |
Consideration: |  | Fair Value
Cash |  | $ | 1,155,000
95,699 shares of common stock |  | $ | 445,000
26,950 common stock options |  | $ | 88,935
Total Consideration |  | $ | 1,688,935
Purchase price allocation |
Purchase Price Allocation: |  |
Customer list |  | $ | 1,045,000
Design and other assets |  | $ | 123,000
Goodwill |  | $ | 642,388
Other assets and liabilities assumed, net |  | $ | (121,453)
Total |  | $ | 1,688,935
Pro forma information |
|  | For the Three Months Ended |  | For the Six Months Ended
|  | March 31, 2020 |  | March 31, 2019 |  | March 31, 2020 |  | March 31, 2019
Net sales |  | $ | 3,716,725 |  |  | $ | 924,906 |  |  | $ | 5,006,806 |  |  | $ | 1,409,906
Net loss |  | $ | (5,970,217 | ) |  | $ | (7,770,325 | ) |  | $ | (7,851,673 | ) |  | $ | (10,044,709)
Loss per common share - basic and diluted |  | $ | (1.15 | ) |  | $ | (1.84 | ) |  | $ | (1.56 | ) |  | $ | (2.52)
Weighted average common shares outstanding - basic and diluted |  |  | 5,188,384 |  |  |  | 4,217,662 |  |  |  | 5,031,749 |  |  |  | 3,980,517

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