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I. LOSS PER COMMON SHARE

6 Months Ended

Mar. 31, 2018

Accounting Policies [Abstract]

I. LOSS PER COMMON SHARE

The following table provides the details of the basic and diluted loss per-share computations:

		Six months ended March 31,								Three months ended March 31,
		2018				2017				2018				2017
Loss per share - basic
Net loss available to common shareholders - basic		$	(10,895,965	)		$	(4,905,338	)		$	(4,708,135	)		$	(8,426,491	)
Weighted average shares outstanding - basic			13,403,878				6,649,814				15,210,296				7,319,761
Basic loss per common share		$	(0.81	)		$	(0.74	)		$	(0.31	)		$	(1.15	)
Loss per share - diluted
Net loss available to common shareholders - basic		$	(10,895,965	)		$	(4,905,338	)		$	(4,708,135	)		$	(8,426,491	)
Gain on derivatives			-				(330,124	)			-				-
Net loss available to common shareholders - diluted		$	(10,895,965	)		$	(5,235,462	)		$	(4,708,135	)		$	(8,426,491	)
Weighted average shares outstanding - basic			13,403,878				6,649,814				15,210,296				7,319,761
Incremental shares underlying dilutive "in the money" warrants (1)			-				32,778				-				-
Weighted average shares outstanding - diluted			13,403,878				6,682,592				15,210,296				7,319,761
Diluted loss per common share		$	(0.81	)		$	(0.78	)		$	(0.31	)		$	(1.15	)
(1) Includes series FF, GG, HH, II and JJ for the six months ended March 31, 2017

The gain on derivatives priced lower than the average market price during the period is excluded from the numerator and the related shares are excluded from the denominator in calculating diluted loss per share.

In accordance with the contingently issuable shares guidance of FASB ASC Topic 260, Earnings Per Share, the calculation of diluted net earnings (loss) per share excludes the following securities because their inclusion would have been anti-dilutive as of March 31:

		2018				2017
Options and Warrants			12,381,730				8,037,799
Unvested Restricted Stock			312,000				604,000
Convertible debt			1,077,982				-
Total			13,771,712				8,641,799

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- References

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- Definition

Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=84158767&loc=d3e18780-107790

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