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Share-Based Compensation | 12 Months Ended
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Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Share-Based Compensation | NOTE 16 – SHARE-BASED COMPENSATION On December 5, 2016, the Company granted a stock option for 200,000 shares to Saagar Govil, the Company’s Chairman and CEO. These options have an exercise price of $4.24 per share, 50% of the options vest each year and they expire after six years. As of September 30, 2018, none of these options have been exercised. On December 18, 2017, the Company granted a stock option for 200,000 shares to Saagar Govil, the Company’s Chairman and CEO. These options have an exercise price of $2.64 per share, 50% of the options vest each year and they expire after six years. As of September 30, 2018, none of these options have been exercised. The following weighted-average assumptions were used to estimate the fair value of the common stock option liability at September 30, 2018
|  | September 30, 2018 |
Expected term |  |  | 4 Years |
Risk-free interest rate |  |  | 1.73 | %
Expected volatility |  |  | 61.33 | %
Expected dividend yield |  |  | 0 | %
During the years ended September 30, 2018 and 2017 the Company recognized $401,300 and zero of share-based compensation expense on its outstanding options. Of those expenses $174,667, which were deemed immaterial, were for prior years that were unrecorded. As of September 30, 2018, there was $184,700 of total unrecognized compensation cost related to nonvested stock options, which is expected to be recognized over a weighted-average period of 1.5 years.
|  | Number of Options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term (in years) |  |  | Aggregate Intrinsic Value |
Outstanding at September 30, 2016 |  |  | 274,996 |  |  | $ | 1.73 |  |  |  |  |  |  |  |  |
Options granted |  |  | 200,000 |  |  | $ | 4.24 |  |  |  |  |  |  |  |  |
Options exercised |  |  | (37,499 | ) |  | $ | 1.80 |  |  |  |  |  |  | $ | 2.16 |
Options forfeited |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Outstanding at September 30, 2017 |  |  | 437,497 |  |  | $ | 2.87 |  |  |  |  |  |  |  |  |
Options granted |  |  | 200,000 |  |  | $ | 2.64 |  |  |  |  |  |  |  |  |
Options exercised |  |  | (4,608 | ) |  | $ | 1.80 |  |  |  |  |  |  | $ | 2.01 |
Options forfeited |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Outstanding at September 30, 2018 |  |  | 632,889 |  |  | $ | 2.80 |  |  |  | 4.09 |  |  | $ | - |
Exercisable at September 30, 2018 |  |  | 332,889 |  |  | $ | 3.17 |  |  |  | 3.39 |  |  | $ | - |

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -URI http://asc.fasb.org/subtopic&trid=2208855 + Details
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