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Stockholders' Equity | 9 Months Ended
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Jun. 30, 2023
Stockholders' Equity [Abstract] |
Stockholders’ Equity | NOTE 11 – Stockholders’ Equity At-The-Market Offering On December 21, 2022, the Company entered into a Capital on DemandTM Sales Agreement (“Sales Agreement”) with JonesTrading Institutional Services LLC (“JonesTrading”) to create an at-the-market offering program (“ATM”) under which the Company may offer and sell shares having an aggregate offering price of up to $14.5 million. JonesTrading is entitled to a commission at a fixed commission rate equal to up to 3% of the gross proceeds. As of June 30, 2023, 1,439,677 shares of common stock were issued for gross proceeds of $2,552,656 under the ATM, and issuance costs in the amount of $234,725 have been incurred in connection with the ATM. See Note 13 – Subsequent Events. Public Offering On October 13, 2021, the Company, entered into an Underwriting Agreement (the “CH Underwriting Agreement”) with Craig-Hallum Capital Group LLC, as underwriter (“Craig-Hallum”), relating to the issuance and sale of 3,750,000 shares of the Company’s common stock at a price to the public of $3.20 per share. In addition, under the terms of the CH Underwriting Agreement, the Company granted Craig-Hallum an option, exercisable for 30 days, to purchase up to an additional 562,500 shares of common stock on the same terms. The base offering closed on October 15, 2021, and the sale of 422,057 shares of common stock subject to Craig-Hallum’s overallotment option closed on November 15, 2021. The gross proceeds to the Company from this offering were approximately $13.4 million prior to deducting underwriting discounts and other offering expenses payable by the Company in the amount of approximately $1.4 million in the aggregate. Warrant Activity and Summary There were no warrant exercises during the three and nine months ended June 30, 2023 and 425,370 and 695,848 warrants expired during the three and nine months ended June 30, 2023, respectively. The following table summarizes information about warrants outstanding at June 30, 2023:
Exercise Price |  |  | Number Outstanding |  |  | Weighted Average Remaining Contractual life (Years) |  |  | Number Exercisable at June 30, 2023 |
$ | 3.00 |  |  |  | 350,000 |  |  |  | 4.09 |  |  |  | 350,000 |
$ | 5.25 |  |  |  | 4,166,682 |  |  |  | 2.55 |  |  |  | 4,166,682 |
$ | 5.61 |  |  |  | 220,855 |  |  |  | 5.01 |  |  |  | 220,855 |
$ | 6.00 |  |  |  | 45,171 |  |  |  | 1.01 |  |  |  | 45,171 |
$ | 7.50 |  |  |  | 279,727 |  |  |  | 0.67 |  |  |  | 279,727 |
$ | 8.25 |  |  |  | 62,906 |  |  |  | 1.01 |  |  |  | 62,906 |
$ | 9.00 |  |  |  | 1,282,154 |  |  |  | 0.43 |  |  |  | 1,282,154 |
Total |  |  |  | 6,407,495 |  |  |  |  |  |  |  | 6,407,495 |

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