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Share-Based Compensation

12 Months Ended

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

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- References

No definition available.

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