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Stock-Based Compensation (Tables)
12 Months Ended
Sep. 30, 2021
Share-Based Payment Arrangement [Abstract]  
Schedule of stock-based compensation expense
   2021   2020 
Selling, general and administrative  $1,550,841   $1,623,629 
Research and development   242,358    212,341 
Total stock-based compensation expense  $1,793,199   $1,835,970 

 

Schedule of weighted-average assumptions used in the Black-Scholes option-pricing model
   Number of
Options
   Weighted
Average
Exercise
Price
   Weighted-
Average
Remaining
Contractual
Term (years)
   Aggregate
Intrinsic
Value(1)
 
Outstanding at September 30, 2019   281,956   $5.46    9.0   $343,406 
Granted   334,731   $6.18         
Exercised   (25,515)  $0.12         
Forfeited/Cancelled   (98,330)  $5.91         
Outstanding at September 30, 2020   492,842   $6.13    8.8   $96,088 
Granted   703,117   $5.83         
Exercised   (1,538)  $6.60         
Forfeited/Cancelled   (71,861)  $6.85         
Outstanding at September 30, 2021   1,122,560   $5.89    8.8   $127,339 
Vested and exercisable at September 30, 2021   481,047   $5.89    8.2   $311,388 

 

Schedule of weighted-average assumptions used in the Black-Scholes option-pricing model
   2021   2020 
Expected stock price volatility   55.9%   53.1%
Expected life of options (years)   6.0    5.6 
Expected dividend yield   0%   0%
Risk free interest rate   0.6%   1.4%

 

Schedule of restricted stock unit activity
   Number of 
   Shares 
Non-vested at September 30, 2019   10,503 
Granted   78,323 
Forfeited   (2,335)
Vested   (59,793)
Non-vested at September 30, 2020   26,698 
Granted   13,776 
Vested   (29,090)
Non-vested at September 30, 2021   11,384