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Accrued Expenses and Other liabilities
 9 Months Ended
Jun. 30, 2020
Payables and Accruals [Abstract]  
Accrued Expenses and Other liabilities

NOTE 6 - Accrued Expenses and Other liabilities

 

Accrued Expenses

 

Accrued expenses consisted of the following at June 30, 2020 and September 30, 2019:

  

   As of 
   June 30,
2020		   September 30,
2019		 
Legal services  $—   $228,709 
Accrued issuance costs   50,400    50,400 
Accrued payroll   180,000    171,087 
Lease liability, short-term   56,372    — 
Other   110,678    167,525 
   $397,450   $617,721 

 

The "other" category is primarily comprised of board fees.  

 

Paycheck Protection Program

 

The CARES Act, signed into law in March 2020, established the Paycheck Protection Program ("PPP"). The PPP authorizes over $600 billion in forgivable loans to small businesses. Loan amounts are forgiven to the extent proceeds are used to cover documented payroll, mortgage interest, rent, and utility costs over a 24 week measurement period following loan funding. There can be no assurance that this PPP loan will be forgiven. Loans have a maturity of 2 years and an interest rate of 1%. Prepayments may be made without penalty. In April 2020, the Company received loan funding of approximately $83,333 under the PPP. Interest in connection with the PPP was nominal during the three and nine month period ended June 30, 2020.