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13. STOCK-BASED COMPENSATION (Tables) | 12 Months Ended
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Sep. 30, 2021
Equity [Abstract] |
13. STOCK-BASED COMPENSATION - Schedule of Option Summary |
|  | Number of Option Shares |  | Weighted Average Exercise Price ($)
Balance, September 30, 2019 |  |  | 81,254 |  |  |  | 11.82
Options granted |  |  | 233,233 |  |  |  | 5.28
Options expired |  |  | (25,692 | ) |  |  | 8.71
Options canceled |  |  | (10,847 | ) |  |  | 19.04
Options exercised |  |  | — |  |  |  | —
Balance, September 30, 2020 |  |  | 277,948 |  |  |  | 6.34
Options granted |  |  | 1,469,250 |  |  |  | 19.32
Options expired |  |  | (12,975 | ) |  |  | 10.53
Options canceled |  |  | (45,876 | ) |  |  | 16.31
Options exercised |  |  | (141,318 | ) |  |  | 6.14
Balance, September 30, 2021 |  |  | 1,547,029 |  |  |  | 18.35
Fair Value Option, Disclosures [Table Text Block] |
Fair value assumptions Options: |  | September 30, 2021
Risk free interest rate |  |  | 0.10-0.41%
Expected term (years) |  |  | 1.5-5.25
Expected volatility |  |  | 140% to 239%
Expected dividends |  |  | 0%
As of September 30, 2021, the Company expects to recognize $16,434,789 of stock-based compensation for the non-vested outstanding options over a weighted-average period of 2.47 years. Option activity for the year ended September 30, 2020 During the year ended September 30, 2020, the Company issued 233,233 options to purchase shares of common stock to employees, the options were granted with exercise prices equal to the then current quoted market prices ranging from $4.50 to $8.50. The options were valued at issuance using the Black Scholes model and stock compensation expense of $716,740 was recorded as a result of the issuances. The Black-Scholes model utilized the following inputs to value the options granted during year ended September 30, 2020:
Fair value assumptions Options: |  | September 30, 2020
Risk free interest rate |  |  | 0.85 to 1.73%
Expected term (years) |  |  | 3-5
Expected volatility |  |  | 124% to 209%
Expected dividends |  |  | 0%
RESTRICTED STOCK UNITS The Company grants RSUs that contain either a) service conditions, or b) performance conditions, or c) market performance conditions. RSUs containing service conditions vest monthly or annually. RSUs containing performance conditions generally vest over 1 year, and the number of shares earned depends on the achievement of predetermined Company metrics. When the criteria for vesting is met, the Company recognizes the expense equal to the total fair value of the common stock price on the grant date. All of the RSUs issued prior to September 30, 2021 were either vested or forfeited and cancelled. The following table summarizes the performance-based restricted stock units at the maximum award amounts based upon the respective performance share agreements. Actual shares that will vest depend on the attainment of the performance-based criteria.
STOCK-BASED COMPENSATION - Schedule of Restricted Stock Summary |
|  | Number of Shares |  | Weighted Average Grant- Date Fair Value Per Share |  | Aggregate Intrinsic Value
Outstanding at September 30, 2020 |  |  |  | — |  |  |  | — |  |  |  | —
Granted |  |  |  | 579,302 |  |  | $ | 10.53 |  |  | $ | 1,669,711
Vested |  |  |  | (558,475 | ) |  | $ | 10.03 |  |  | $ | 1,651,231
Forfeited |  |  |  | (9,832 | ) |  | $ | 17.98 |  |  | $ | 18,480
Outstanding at September 30, 2021 |  |  |  | 10,995 |  |  | $ | 27.73 |  |  |  | —

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