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OPERATING LEASE | 9 Months Ended
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Jun. 30, 2021
OPERATING LEASE |
OPERATING LEASE | 7. OPERATING LEASE The Company has one operating lease for the South San Francisco office extended from April 1, 2021 to May 31, 2024. The Company’s operating leases included on the balance sheet are as follows: ​
​ | ​ | ​ | ​
Operating lease right-of-use asset |  | ​ |
Balance, September 30, 2019 | ​ | $ | —
Adoption of ASC 842 | ​ |  | 165,486
Amortization | ​ | ​ | (82,743)
​ | ​ | ​ | ​
Balance, June 30, 2020 | ​ | $ | 82,743
​ | ​ | ​ | ​
Balance, September 30, 2020 | ​ | $ | 55,162
Addition | ​ |  | 323,036
Amortization | ​ | ​ | (80,665)
​ | ​ | ​ | ​
Balance, June 30, 2021 | ​ | $ | 297,533
​ | ​ | ​ | ​
​ | ​ | ​ | ​
Operating lease liabilities | ​ |  |
Balance, September 30, 2019 | ​ | $ | —
Adoption of ASC 842 | ​ |  | 165,486
Accretion | ​ | ​ | 10,893
Lease payments | ​ | ​ | (89,096)
​ | ​ | ​ | ​
Balance, June 30, 2020 | ​ | $ | 87,283
​ | ​ | ​ | ​
Balance, September 30, 2020 | ​ | $ | 59,094
Addition | ​ | ​ | 323,036
Accretion | ​ | ​ | 5,497
Lease payments | ​ | ​ | (69,637)
​ | ​ | ​ | ​
Balance, June 30, 2021 | ​ | $ | 317,990
​ The Company recognizes a right-of-use asset for the right to use the underlying asset for the lease term, and a lease liability, which represents the present value of the Company’s obligation to make payments over the lease term. The present value of the lease payments is calculated using an incremental borrowing rate as the Company’s leases do not provide an implicit interest rate. At June 30, 2021, the Company’s incremental borrowing rate was 5.0% and the lease term was extended by 38 months. Operating lease costs of $69,637 (2020 - $89,096) and accretion expense of $5,497 (2020 - $10,893) have been recorded in “general and administrative expenses” and “financing costs” in the condensed consolidated interim statements of operations and comprehensive loss respectively.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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