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STOCK OPTIONS AND WARRANTS | 9 Months Ended
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Jun. 30, 2023
Share-Based Payment Arrangement [Abstract] |
STOCK OPTIONS AND WARRANTS | 6. STOCK OPTIONS AND WARRANTS Options During the nine months ended June 30, 2023, the Company granted no new stock options, did not issue any shares upon the exercise of outstanding stock options, and had 12,186 stock options that were forfeited and expired because of the termination of employment and expiration of options. The following table summarizes stock option activity for the nine months ended June 30, 2023: SUMMARY OF STOCK OPTION ACTIVITY
|  | Number of Shares Issuable Upon Exercise of Warrants |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Life (years) |  |  | Aggregate Intrinsic Value |
Outstanding at October 1, 2022 |  |  | 113,650 |  |  | $ | 149.88 |  |  |  | 7.4 |  |  | $ | 1,207 |
Forfeited and expired |  |  | (12,186 | ) |  |  | 118.02 |  |  |  | - |  |  |  | - |
Outstanding at June 30, 2023 |  |  | 101,464 |  |  | $ | 154.48 |  |  |  | 6.53 |  |  | $ | - |
Exercisable at June 30, 2023 |  |  | 70,146 |  |  | $ | 174.03 |  |  |  | 5.94 |  |  | $ | - |
The Company is expensing these stock option awards on a straight-line basis over the requisite service period. The Company recognized stock option expense of $190,380 and $2,687,529 for the nine months ended June 30, 2023 and June 30, 2022, respectively. Unamortized option expense as of June 30, 2023, for all options outstanding amounted to $110,369. These costs are expected to be recognized over a weighted average period of 1.16 years. A summary of the status of the Company’s nonvested options as of June 30, 2023, is presented below: SUMMARY OF UNVESTED SHARES Nonvested options
|  | Number of Nonvested Options |  |  | Weighted Average Grant Date Fair Value |
Nonvested options at October 1, 2022 |  |  | 50,009 |  |  | $ | 154.24 |
Granted |  |  | - |  |  |  | - |
Forfeited |  |  | (8,883 | ) |  |  | 107.79 |
Vested |  |  | (9,808 | ) |  |  | 253.71 |
Nonvested options at June 30, 2023 |  |  | 31,318 |  |  | $ | 138.20 |
Warrants During the nine months ended June 30, 2023, the Company granted no new warrants to purchase shares of common stock and did not issue any shares upon the exercise of outstanding warrants to purchase shares of common stock. The following table summarizes warrant activity for the nine months ended June 30, 2023: SCHEDULE OF WARRANT ACTIVITY
|  | Number of Shares Issuable Upon Exercise of Warrants |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Life (years) |  |  | Aggregate Intrinsic Value |
Outstanding at September 30, 2022 |  |  | 152,398 |  |  | $ | 158.24 |  |  |  | 3.7 |  |  | $ | - |
Issued |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Exercised |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Expired |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Outstanding at June 30, 2023 |  |  | 152,398 |  |  | $ | 158.24 |  |  |  | 2.9 |  |  |  | - |
Exercisable at June 30, 2023 |  |  | 152,398 |  |  | $ | 158.24 |  |  |  | 2.9 |  |  | $ | - |

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