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11. Warrants (Tables)

9 Months Ended

Jun. 30, 2019

Warrants and Rights Note Disclosure [Abstract]

Warrant activity

The Company issued several notes in prior periods and converted them, resulting in the issuance of warrants. The following table summarizes information about the Company’s warrants at June 30, 2019 and September 30, 2018, respectively:

		Number of units - Series B Convertible preferred warrants				Weighted Average Exercise Price				Weighted Average Remaining Contractual Term (in years)				Intrinsic Value
Outstanding at September 30, 2018			118,029			$	20.80				1.35			$	2,855,734
Exercisable at September 30, 2018			118,029			$	20.80				1.35			$	2,855,734
Outstanding at June 30, 2019			118,029			$	20.80				0.60			$	1,775,767
Exercisable at June 30, 2019			118,029			$	20.80				0.60			$	1,775,767

Warrants outstanding and exercisable

The exercise price for the Series B Convertible Preferred Stock warrants outstanding and exercisable at June 30, 2019 and September 30, 2018, are as follows:

Series B Convertible Preferred
Outstanding								Exercisable
Number of				Exercise				Number of				Exercise
Warrants				Price				Warrants				Price
	54,396			$	16.60				54,396			$	16.60
	17,857				16.80				17,857				16.80
	12,383				24.30				12,383				24.30
	33,393				28.50				33,393				28.50
	118,029								118,029

X

- Definition

Tabular disclosure of activity for outstanding award under share-based payment arrangement excluding share and unit options and nonvested award.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
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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)
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(i))
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