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STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Sep. 30, 2019
STOCK-BASED COMPENSATION  
Schedule of stock option activity

A summary of our stock option activity for all options and related information for the year ended September 30, 2019, is as follows (in thousands except for share prices):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

 

Weighted-

 

Weighted-

 

Average

 

 

 

 

 

 

 

Average

 

Average

 

Remaining

    

Aggregate

 

 

Options

    

Exercise 

 

Grant Date

 

Contractual

 

Intrinsic

 

    

(shares)

 

Price

    

Fair Value

    

Life

 

Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding - October 1, 2018

 

301

 

$

1.73

 

 

  

 

  

 

 

  

Exercised

 

(15)

 

$

1.19

 

$

0.99

 

  

 

 

  

Granted

 

503

 

$

1.52

 

$

1.11

 

  

 

 

  

Forfeited

 

(13)

 

$

1.65

 

 

  

 

  

 

 

  

Outstanding - September 30, 2019

 

776

 

$

1.61

 

$

1.22

 

7.98

 

$

1,536

 

 

 

 

 

 

 

 

  

 

  

 

 

  

Exercisable at September 30, 2019

 

168

 

$

1.64

 

$

1.33

 

5.23

 

$

327

 

Schedule of weighted-average assumptions used to compute the fair value of the options granted

The weighted-average assumptions used to compute the fair value of options granted for the fiscal years ended September 30, 2019 and 2018 were as follows:

 

 

 

 

 

 

 

 

 

2019

 

2018

 

Risk-free interest rate

    

2.47

%

2.31

%

Dividend yield

 

0.00

%

0.00

%

Volatility of the expected market price of the Company’s common shares

 

70.8%-72.5

%

83.70

%

Expected life of the options (years)

 

8.0

 

8.0

 

 

Schedule of restricted share activity

During the year ended September 30, 2019, we granted a total of 55 shares, of which 20 shares are restricted, to our CEO under the terms of his employment agreement and to our new Chief Human Resources Officer.  A summary of our restricted share activity for the year ended September 30, 2019 is as follows:

 

 

 

 

 

    

Restricted Shares 

 

 

 

Outstanding - September 30, 2018

 

 —

Granted

 

55

Unrestricted at Grant

 

(35)

Forfeited

 

 —

Outstanding - September 30, 2019

 

20