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13. STOCK-BASED COMPENSATION (Tables) | 12 Months Ended
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Sep. 30, 2022
Equity [Abstract] |
Schedule of Share-Based Payment Arrangement, Option, Activity | The following is a summary of stock option activity during the year ended September 30, 2022 and 2021:
|  | Number of Option Shares |  |  | Weighted Average Exercise Price ($) |
Balance, September 30, 2020 |  |  | 277,948 |  |  |  | 6.34 |
Options granted |  |  | 1,469,250 |  |  |  | 19.32 |
Options expired |  |  | (12,975 | ) |  |  | 10.53 |
Options canceled/forfeited |  |  | (45,876 | ) |  |  | 16.31 |
Options exercised |  |  | (141,318 | ) |  |  | 6.14 |
Balance, September 30, 2021 |  |  | 1,547,029 |  |  |  | 18.35 |
Options granted |  |  | 215,750 |  |  |  | 14.47 |
Options canceled/forfeited |  |  | (238,418 | ) |  |  | 15.40 |
Options exercised |  |  | (105,423 | ) |  |  | 7.43 |
Balance, September 30, 2022 |  |  | 1,418,938 |  |  | 19.11 |
Schedule of Share-Based Payment Arrangement, Restricted Stock Unit, Activity | 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.
|  | Number of Shares |  |  | Weighted Average Fair Value Per Share |  |  | Aggregate Intrinsic Value |
Outstanding at September 30, 2020 |  |  | — |  |  | $ | - |  |  | $ | - |
Granted |  |  | 579,302 |  |  |  | 10.53 |  |  |  |
Vested |  |  | (558,475 | ) |  |  | 10.03 |  |  |  |
Forfeited |  |  | (9,832 | ) |  |  | 17.98 |  |  |  |
Outstanding at September 30, 2021 |  |  | 10,995 |  |  | $ | 27.73 |  |  | $ | - |
Granted |  |  | 7,306,250 |  |  |  | 7.18 |  |  |  |
Vested |  |  | (1,757,938 | ) |  |  | 13.37 |  |  |  |
Forfeited |  |  | (110,759 | ) |  |  | 15.27 |  |  |  |
Outstanding at September 30, 2022 |  |  | 5,448,548 |  |  | $ | 4.93 |  |  | $ | 17,326,383 |
Schedule of Fair Value Assumption Restricted Stock Unit | The Black-Scholes model utilized the following inputs to value the options granted during year ended September 30, 2022:
Fair value assumptions Options: |  | September 30, 2022 |
Risk free interest rate |  | 1.04% - 3.65% |
Expected term (years) |  | 4.99 - 7.35 |
Expected volatility |  | 187.18% - 533.00% |
Expected dividends |  |  | 0 | %
The Black-Scholes model utilized the following inputs to value the options granted during year ended September 30, 2021:
Fair value assumptions Options: |  | September 30, 2021 |
Risk free interest rate |  | 0.10% - 0.41% |
Expected term (years) |  | 1.50 - 5.25 |
Expected volatility |  | 140% - 239% |
Expected dividends |  |  | 0 | %
The inputs of these market based RSUs are as follows:
Fair value assumptions RSUs: |  | September 30, 2022
Risk free interest rate |  | 0.14% - 1.26%
Expected term (years) |  | 1.00 - 5.00
Expected volatility |  | 111.37% - 172.18%
Cost of equity |  | 20.00% - 21.00%
On September 12, 2022, the Compensation Committee approved to immediately vest the 810,000 market based RSUs that were subject to the 1-year stated service period. Accordingly, the Company recorded an incremental stock-based compensation expense of $3.96 million in the fiscal year September 30, 2022. Additionally, on September 12, 2022, the Compensation Committee approved the following modifications and grants, each of which are pending ratification by shareholders: (1) to grant 2,565,000 service condition based RSUs which will vest over a 3-year period beginning on the grant date, (2) to grant 2,565,000 performance based RSUs which are expected to vest within a 12-month period, (3) to modify the market condition based 60,000 units that were perpetual in nature, and 10,000 unvested service condition RSUs, and were replaced with; (3a) 120,000 service condition based RSUs that vest over a 3-year period, (3b) 120,000 performance based RSUs, which are expected to vest within 12 months from date of modification. (4) to grant 760,000 restricted stock units, which shall vest on the later of the grant date and the Shareholder Approval Date.

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