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SHARE-BASED COMPENSATION | 12 Months Ended
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Sep. 30, 2023
Share-Based Payment Arrangement [Abstract] |
SHARE-BASED COMPENSATION | NOTE 19 – SHARE-BASED COMPENSATION On September 25, 2019, the Company cancelled all outstanding options granted to Saagar Govil, the Company’s Chairman and CEO and granted a stock option for 11,429 shares. These options have an exercise price of $56.00 per share, which vested upon grant and they expire after seven years. Additionally, Mr. Govil was granted additional future options; (i) 2,868 shares of the Corporation’s common stock, CETX at an exercise price of $67.20 per share vesting on September 25, 2021; (ii) 2,858 shares of the Corporation’s common stock, CETX at an exercise price of $80.64 per share vesting on September 25, 2023; and (iii) 2,858 shares of the Corporation’s common stock, CETX at an exercise price of $96.77 per share vesting on September 25, 2025. On April 28, 2022, the Company granted Brian Kwon, Manpreet Singh, Chris Wagner, and Metodi Filipov, all Directors of the Company, stock options for 2,931 shares each, 11,724 in the aggregate. These options have an exercise price of $13.65 per share, which vest over one year, and expire after five years. The options granted to Mr. Wagner were cancelled upon his resignation from the Board on November 8, 2022. The following weighted-average assumptions were used to estimate the fair value of the common stock option liability for the options granted to Brian Kwon, Manpreet Singh, Chris Wagner, and Metodi Filipov; SCHEDULE OF FAIR VALUE STOCK OPTION WEIGHTED AVERAGE ASSUMPTIONS
|  | April 28, 2022
Expected term |  | 5 Years
Risk-free interest rate |  | 2.92%
Expected volatility |  | 110.56%
Expected dividend yield |  | 0%
During the years ended September 30, 2023, and 2022 the Company recognized $106,839 and $155,507 of share-based compensation expense on its outstanding options, respectively. The share-based compensation is listed under the caption “General and administrative” expenses on the Company’s consolidated statement of operations. As of September 30, 2023, there was $63,306 of total unrecognized compensation cost related to non-vested stock options, which is expected to be recognized over a weighted-average period of 2.25 years. SCHEDULE OF STOCK OPTIONS ACTIVITY
|  | Number of Options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term (in years) |  |  | Aggregate Intrinsic Value |
Outstanding at September 30, 2022 |  |  | 34,585 |  |  | $ | 46.90 |  |  |  | 3.25 |  |  | $ | - |
Options granted |  |  | - |  |  |  | - |  |  |  | - |  |  | $ | - |
Options exercised |  |  | - |  |  |  | - |  |  |  | - |  |  |  |  |
Options forfeited |  |  | - |  |  |  | - |  |  |  | - |  |  |  |  |
Options cancelled |  |  | (5,789 | ) |  | $ | 27.13 |  |  |  |  |  |  | $ | - |
Outstanding at September 30, 2023 |  |  | 28,796 |  |  | $ | 50.76 |  |  |  | 2.25 |  |  | $ | - |
Vested and exercisable at September 30, 2022 |  |  | 27,843 |  |  | $ | 49.09 |  |  |  |  |  |  | $ | - |

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