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COMMON STOCK, STOCK OPTIONS AND WARRANTS (Tables) | 6 Months Ended | 12 Months Ended
--- | --- | ---
Mar. 31, 2017 | Sep. 30, 2016
Common Stock Stock Options And Warrants Tables |  |
Schedule of fair value stock option grants |  |
|  |  | Year Ended September 30, 2016 |  |  | Year Ended September 30, 2015 |  |  | Nine Months Ended September 30, 2014 |
Risk-free interest rate |  |  | 0.95-1.40 | % |  |  | 1.37-1.52 | % |  |  | 1.83 | %
Expected dividend yield |  |  | 0 | % |  |  | 0 | % |  |  | 0 | %
Expected term |  |  | 4.75 - 9 years |  |  |  | 2.5 - 6 years |  |  |  | 5 - 6 years |
Forfeiture rate |  |  | 0 | % |  |  | 0 | % |  |  | 0 | %
Expected volatility |  |  | 57-74 | % |  |  | 53-58 | % |  |  | 54 | %
Schedule of stock option activity |
Options |  | Shares |  |  | Weighted- Average Exercise Price |  |  | Weighted- Average Remaining Contractual Term |  | Aggregate Intrinsic Value |
Outstanding at September 30, 2016 |  |  | 582,185 |  |  | $ | 8.11 |  |  | 8.59 years |  | $ | 1,355,924 |
Granted |  |  | 8,666 |  |  |  | 10.05 |  |  |  |  |  |  |
Exercised |  |  | — |  |  |  | — |  |  |  |  |  |  |
Forfeited or expired |  |  | — |  |  |  | — |  |  |  |  |  |  |
Outstanding at March 31, 2017 |  |  | 590,851 |  |  | $ | 8.14 |  |  | 8.12 years |  | $ | 436,911 |
Exercisable at March 31, 2017 |  |  | 376,489 |  |  | $ | 6.49 |  |  | 7.66 years |  |  | 427,036 |
Options |  | Shares |  |  | Weighted- Average Exercise Price |  |  | Weighted- Average Remaining Contractual Term |  | Aggregate Intrinsic Value |
Outstanding at January 1, 2014 |  |  | - |  |  | $ | - |  |  |  |  |  |
Granted |  |  | 220,000 |  |  |  | 6.75 |  |  |  |  |  |
Exercised |  |  | - |  |  |  | - |  |  |  |  |  |
Forfeited or expired |  |  | - |  |  |  | - |  |  |  |  |  |
Outstanding at September 30, 2014 |  |  | 220,000 |  |  |  | 6.75 |  |  | 9.96 years |  | $ | 495,000 |
Granted |  |  | 40,000 |  |  |  | 9.00 |  |  |  |  |  |  |
Exercised |  |  | - |  |  |  | - |  |  |  |  |  |  |
Forfeited or expired |  |  | - |  |  |  | - |  |  |  |  |  |  |
Outstanding at September 30, 2015 |  |  | 260,000 |  |  |  | 7.10 |  |  | 8.94 years |  | $ | 297,000 |
Granted |  |  | 244,933 |  |  |  | 11.41 |  |  |  |  |  |  |
Assumed in acquisition |  |  | 77,252 |  |  |  | 1.08 |  |  |  |  |  |  |
Exercised |  |  | - |  |  |  | - |  |  |  |  |  |  |
Forfeited or expired |  |  | - |  |  |  | - |  |  |  |  |  |  |
Outstanding at September 30, 2016 |  |  | 582,185 |  |  | $ | 8.11 |  |  | 8.59 years |  | $ | 1,355,924 |
Exercisable at September 30, 2016 |  |  | 342,444 |  |  | $ | 6.74 |  |  | 8.14 years |  | $ | 1,059,615 |
Schedule of Warrants |
|  | Exercise price |  |  | Number |  |  | Expiration Dates |
Investor Warrants |  | $ | 9.00 |  |  |  | 226,671 |  |  | September 12, 2019 |
Placement Agent Unit Warrants |  |  | 9.00 |  |  |  | 45,334 |  |  | September 12, 2019 |
Warrants underlying Placement Agent Unit Warrants |  |  | 9.00 |  |  |  | 45,334 |  |  | September 12, 2019 |
Placement Agent Share Warrants |  |  | 9.00 |  |  |  | 66,667 |  |  | September 12, 2019 |
Investor Warrants |  |  | 9.00 |  |  |  | 143,025 |  |  | March 19, 2020 – June 26, 2020 |
Investor Warrants |  |  | 9.00 |  |  |  | 59,444 |  |  | July 2, 2020 – September 14, 2020 |
Investor Warrants |  |  | 9.00 |  |  |  | 38,889 |  |  | November 5, 2020 – November 20, 2020 |
Investor Warrants |  |  | 9.00 |  |  |  | 142,222 |  |  | January 7, 2021 – March 21, 2021 |
Investor Warrants |  |  | 9.00 |  |  |  | 126,667 | (1) |  | April 15, 2021 – April 25, 2021 |
LMB Warrants |  |  | 6.15 |  |  |  | 90,151 |  |  | June 12, 2019 - March 2, 2021 |
LMB Warrants |  |  | 9.90 |  |  |  | 8,155 |  |  | September 30, 2019 - January 8, 2020 |
LMB Warrants |  |  | 20.70 |  |  |  | 17,721 |  |  | November 3, 2019 - March 6, 2020 |
LMB Warrants |  |  | 7.50 |  |  |  | 73,883 |  |  | August 18, 2020 – March 14, 2021 |
LMB Warrants |  |  | 13.65 |  |  |  | 53,110 |  |  | March 24, 2022 – April 29, 2022 |
Financial Advisor Warrants |  |  | 3.00 |  |  |  | 66,667 |  |  | August 15, 2021 |
2016 Offering Warrants |  |  | 8.25 |  |  |  | 128,017 |  |  | November 23, 2021 - February 27, 2022 |
2016 Offering Placement Agent Warrants |  |  | 8.25 |  |  |  | 12,802 |  |  | November 23, 2021 - February 27, 2022 |
|  |  |  |  |  |  | 1,344,759 |  |  |  |
|  | Exercise price |  |  | Number |  |  | Expiration Dates |
Investor Warrants |  | $ | 9.00 |  |  |  | 226,671 |  |  | September 12, 2019 |
Placement Agent Unit Warrants |  |  | 9.00 |  |  |  | 45,334 |  |  | September 12, 2019 |
Warrants underlying Placement Agent Unit Warrants |  |  | 9.00 |  |  |  | 45,334 |  |  | September 12, 2019 |
Placement Agent Share Warrants |  |  | 9.00 |  |  |  | 66,667 |  |  | September 12, 2019 |
Investor Warrants |  |  | 9.00 |  |  |  | 143,025 |  |  | March 19, 2020 - June 26, 2020 |
Investor Warrants |  |  | 9.00 |  |  |  | 59,444 |  |  | July 2, 2020 - September 14,2020 |
Investor Warrants |  |  | 9.00 |  |  |  | 38,889 | (1) |  | November 5, 2020 - November 20, 2020 |
Investor Warrants |  |  | 9.00 |  |  |  | 142,222 | (1) |  | January 7, 2021 - March 21, 2021 |
Investor Warrants |  |  | 9.00 |  |  |  | 126,667 | (1) |  | April 15, 2021 - April 25, 2021 |
LMB Warrants |  |  | 6.15 |  |  |  | 90,151 |  |  | June 12, 2019 - March 2, 2021 |
LMB Warrants |  |  | 9.90 |  |  |  | 8,155 |  |  | September 30, 2019 - January 8, 2020 |
LMB Warrants |  |  | 20.70 |  |  |  | 17,721 |  |  | November 3, 2019 - March 6, 2020 |
LMB Warrants |  |  | 7.50 |  |  |  | 73,883 |  |  | August 18, 2020 - March 14, 2021 |
LMB Warrants |  |  | 13.65 |  |  |  | 53,110 |  |  | March 24, 2022 - April 29, 2022 |
Financial Advisor Warrants |  |  | 3.00 |  |  |  | 66,667 |  |  | August 15, 2021 |
|  |  |  |  |  |  | 1,203,940 |  |  |  |

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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(i)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68057994&loc=d3e25284-112666 + Details
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