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Commitments (Tables)
 6 Months Ended
Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]  
Schedule of exercisable share purchase warrants outstanding

A summary of the status of the Company’s outstanding share purchase warrants is presented below:

 

            Weighted  
            Average  
      Number of Shares     Exercise Price  
Balance, October 1, 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       (1,250 )   $ 1.68  
Expired       (307,129 )   $ 1.47  
Balance, March 31, 2019       370,000     $ 4.03  
Schedule of outstanding stock purchase options

A summary of the status of Company’s outstanding stock purchase options is presented below:

 

            Weighted     Weighted        
      Number of     Average     Average Grant     Aggregate  
      Shares     Exercise Price     Date Fair Value     intrinsic value  
Outstanding at October 1, 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 at September 30, 2018       6,506,917     $ 3.83             $ 2,353,088  
Granted       1,030,399     $ 2.45     $ 1.97          
Forfeited       (238,966 )   $ 2.86                  
Outstanding at March 31, 2019       7,298,350     $ 3.67             $ 3,642,978  
Exercisable at March 31, 2019       5,240,285     $ 3.73             $ 2,976,021  
Schedule of general and administrative expenses and research and development expenses

These amounts have been included in general and administrative expenses and research and development expenses on the Company’s statement of operations as follows:

 

  Three months ended March 31,     Six months ended March 31,  
    2019     2018     2019     2018  
General and administrative   $ 950,999     $ 625,679     $ 2,006,587     $ 1,197,041  
Research and development     942,153       600,017       1,953,552       1,150,640  
Total share based compensation   $ 1,893,152     $ 1,225,696     $ 3,960,139     $ 2,347,681  
Schedule of weighted average assumptions for fair value of each option award

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     2.91 %     2.43 %
Expected life of options (years)     5.59       6.57  
Annualized volatility     105.96 %     112.23 %
Dividend rate     0.00 %     0.00 %