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Accrued Expenses and Other Liabilities
 3 Months Ended
Dec. 31, 2020
Payables and Accruals [Abstract]  
Accrued Expenses and Other Liabilities

NOTE 6 - Accrued Expenses and Other Liabilities

 

Accrued expenses consisted of the following at December 31, 2020 and September 30, 2020:

 

   As of
December 31,
2020		   As of
September 30,
2020		 
Accrued payroll  $282,253   $238,212 
Operating lease liability, short term   59,350    57,848 
Royalty Payments   52,144    — 
Accrued issuance costs   —    50,400 
Other   218,125    166,302 
Total  $611,872   $512,762 

 

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 $83,333 under the PPP and was recorded as a long-term liability. Interest in connection with the PPP was nominal during the three months ended December 31, 2020.