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Commitments (Tables)

12 Months Ended

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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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.

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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.

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