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Commitments (Tables) | 12 Months Ended
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Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract] |
Schedule of share purchase warrants | The following table summarizes the warrant activity during the years ended September 30, 2019 and 2018:
|  |  |  |  | Weighted Average |
|  | Number of Shares |  |  | Exercise Price ($) |
Balance, September 30, 2017 |  |  | 1,609,309 |  |  |  | 2.66 |
Issued |  |  | 350,000 |  |  |  | 4.19 |
Exercised |  |  | (756,143 | ) |  |  | 2.96 |
Expired |  |  | (524,787 | ) |  |  | 3.00 |
Balance, September 30, 2018 |  |  | 678,379 |  |  |  | 2.87 |
Exercised |  |  | (8,750 | ) |  |  | 1.13 |
Expired |  |  | (319,629 | ) |  |  | 1.46 |
Balance, September 30, 2019 |  |  | 350,000 |  |  |  | 4.19 |
Schedule of outstanding stock purchase options | A summary of the status of Company’s outstanding stock purchase options is presented below:
|  |  |  |  |  |  |  | Weighted |  |  |
|  |  |  |  | Weighted |  |  | Average Grant |  |  |
|  | Number of |  |  | Average Exercise |  |  | Date Fair Value |  |  | Aggregate intrinsic
|  | Shares |  |  | Price ($) |  |  | ($) |  |  | value
Outstanding, September 30, 2017 |  |  | 5,092,030 |  |  |  | 4.13 |  |  |  |  |  | $ | 5,280,544
Granted |  |  | 1,730,000 |  |  |  | 2.71 |  |  |  | 2.09 |  |  |
Forfeited |  |  | (164,280 | ) |  |  | 3.66 |  |  |  |  |  |  |
Exercised |  |  | (150,833 | ) |  |  | 1.18 |  |  |  |  |  |  |
Outstanding, September 30, 2018 |  |  | 6,506,917 |  |  |  | 3.83 |  |  |  |  |  | $ | 2,353,088
Granted |  |  | 2,265,399 |  |  |  | 2.79 |  |  |  | 2.27 |  |  |
Forfeited |  |  | (309,383 | ) |  |  | 3.25 |  |  |  |  |  |  |
Outstanding, September 30, 2019 |  |  | 8,462,933 |  |  |  | 3.58 |  |  |  |  |  | $ | 4,115,032
Exercisable, September 30, 2019 |  |  | 5,727,963 |  |  |  | 3.85 |  |  |  |  |  | $ | 3,275,500
Schedule of statement of operations | These amounts have been included in general and administrative expenses and research and development expenses on the Company’s statement of operations as follows:
|  | 2019 |  |  | 2018 |
General and administrative |  | $ | 3,203,165 |  |  | $ | 2,699,557 |
Research and development |  |  | 3,227,708 |  |  |  | 2,817,447 |
Total stock-based compensation |  | $ | 6,430,873 |  |  | $ | 5,517,004 |
Schedule of weighted average assumptions | The fair value of each option award is estimated on the date of grant using the Black Scholes option pricing model based on the following weighted average assumptions:
|  | 2019 |  |  | 2018 |
Risk-free interest rate |  |  | 2.50 | % |  |  | 2.73 | %
Expected life of options (years) |  |  | 6.05 |  |  |  | 5.60 |
Annualized volatility |  |  | 104.45 | % |  |  | 106.45 | %
Dividend rate |  |  | 0.00 | % |  |  | 0.00 | %

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- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
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- Definition Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(i)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775 + Details
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