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Stock-Based Compensation (Tables) | 12 Months Ended
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Sep. 30, 2020
Share-based Payment Arrangement [Abstract] |
Schedule of stock-based compensation expense |
|  | 2020 |  |  | 2019 |
General and administrative |  | $ | 1,623,629 |  |  | $ | 357,318 |
Research and development |  |  | 212,341 |  |  |  | 134,431 |
Total stock-based compensation expense |  | $ | 1,835,970 |  |  | $ | 491,749 |
Schedule of stock option plan activity |
|  | Number of Options |  |  | Weighted Average Exercise Price |  |  | Weighted- Average Remaining Contractual Term (years) |  |  | Aggregate Intrinsic Value(1) |
Outstanding at September 30, 2018 |  |  | 368,216 |  |  | $ | 0.07 |  |  |  | 8.6 |  |  | $ | 820,862 |
Granted |  |  | 675,667 |  |  | $ | 2.32 |  |  |  | — |  |  |  |  |
Exercised |  |  | (198,043 | ) |  | $ | 0.27 |  |  |  | — |  |  |  |  |
Forfeited/Cancelled |  |  | — |  |  | $ | — |  |  |  | — |  |  |  |  |
Outstanding at September 30, 2019 |  |  | 845,840 |  |  | $ | 1.82 |  |  |  | 9.0 |  |  | $ | 343,406 |
Granted |  |  | 1,004,175 |  |  | $ | 2.06 |  |  |  | — |  |  |  |  |
Exercised |  |  | (76,545 | ) |  | $ | 0.04 |  |  |  | — |  |  |  |  |
Forfeited/Cancelled |  |  | (294,985 | ) |  | $ | 1.97 |  |  |  | — |  |  |  |  |
Outstanding at September 30, 2020 |  |  | 1,478,485 |  |  | $ | 2.04 |  |  |  | 8.8 |  |  | $ | 96,088 |
Vested and exercisable at September 30, 2020 |  |  | 761,998 |  |  | $ | 1.99 |  |  |  | 8.6 |  |  | $ | 96,088 |
| (1) | The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying options and the estimated fair value of our common stock as of September 30, 2020 and 2019 of $1.29 and $1.87 per share, respectively. As of September 30, 2020, 1,401,940 and 685,453 outstanding and vested options, respectively, have no intrinsic value.
Schedule of weighted-average assumptions used black-scholes option-pricing model |
|  | 2020 |  |  | 2019 |
Expected stock price volatility |  |  | 53.1 | % |  |  | 50.4 | %
Expected life of options (years) |  |  | 5.6 |  |  |  | 5.6 |
Expected dividend yield |  |  | 0 | % |  |  | 0 | %
Risk free interest rate |  |  | 1.4 | % |  |  | 2.4 | %

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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