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Stock-Based Compensation (Tables) | 12 Months Ended
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Sep. 30, 2024
Stock-Based Compensation [Abstract] |
Schedule of Stock-Based Compensation Expense | During the years ended September 30, 2024 and 2023, stock-based expense related to the stock options and restricted stock units was included in selling, general and administrative and research and development costs as follows in the accompanying statements of operations:
|  | 2024 |  |  | 2023 |
Selling, general and administrative |  | $ | 1,064,819 |  |  | $ | 905,108 |
Research and development |  |  | 279,657 |  |  |  | 200,349 |
Total stock-based compensation expense |  | $ | 1,344,476 |  |  | $ | 1,105,457 |
Schedule of Stock Option Plan Activity | The following table summarizes the Company’s stock option plan activity for the years ended September 30, 2024 and 2023 as follows:
|  | Number of Options |  |  | Weighted Average Exercise Price |  |  | Weighted- Average Remaining Contractual Term (years) |  |  | Aggregate Intrinsic Value(1) |
Outstanding at September 30, 2022 |  |  | 1,239,915 |  |  | $ | 5.40 |  |  |  | 8.0 |  |  | $ | 89,295 |
Granted |  |  | 469,512 |  |  | $ | 1.55 |  |  |  | — |  |  |  | — |
Exercised |  |  | — |  |  | $ | — |  |  |  | — |  |  |  | — |
Forfeited/Cancelled |  |  | (1,000 | ) |  | $ | 3.78 |  |  |  | — |  |  |  | — |
Outstanding at September 30, 2023 |  |  | 1,708,427 |  |  | $ | 4.34 |  |  |  | 7.7 |  |  | $ | 20,064 |
Granted |  |  | 1,225,669 |  |  | $ | 1.26 |  |  |  | — |  |  |  | — |
Exercised |  |  | — |  |  | $ | — |  |  |  | — |  |  |  | — |
Forfeited/Cancelled |  |  | (120,000 | ) |  | $ | 1.33 |  |  |  | — |  |  |  | — |
Outstanding at September 30, 2024 |  |  | 2,814,096 |  |  | $ | 3.13 |  |  |  | 7.7 |  |  | $ | 22,685 |
Vested and expected to vest at September 30, 2024 |  |  | 2,814,096 |  |  | $ | 3.13 |  |  |  | 7.7 |  |  | $ | 22,685 |
Vested and exercisable at September 30, 2024 |  |  | 1,409,840 |  |  | $ | 4.79 |  |  |  | 6.4 |  |  | $ | 22,643 |
Schedule of Weighted Average Assumptions | The weighted-average assumptions used in the Black-Scholes option-pricing model are as follows for the stock options granted during the years ended September 30:
|  | 2024 |  |  | 2023 |
Expected stock price volatility |  |  | 111.9 | % |  |  | 57.4 | %
Expected life of options (years) |  |  | 6.1 |  |  |  | 5.8 |
Expected dividend yield |  |  | 0 | % |  |  | 0 | %
Risk free interest rate |  |  | 4.6 | % |  |  | 3.7 | %
Schedule of Summary of Restricted Stock Unit | A summary of restricted stock unit (“RSU”) activity is as follows for the years ended September 30, 2024 and 2023:
|  | Number of |
|  | Shares |
Non-vested at September 30, 2022 |  |  | 414,430 |
Granted |  |  | 310,728 |
Vested |  |  | (331,788 | )
Non-vested at September 30, 2023 |  |  | 393,370 |
Granted |  |  | 1,006,725 |
Vested |  |  | (270,333 | )
Non-vested at September 30, 2024 |  |  | 1,129,762 |

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