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DERIVATIVE LIABILITIES

12 Months Ended

Sep. 30, 2023

DERIVATIVE LIABILITIES

DERIVATIVE LIABILITIES

8.     DERIVATIVE LIABILITIES

In January 2016, the Company issued, pursuant to a financing, 227,273 warrants (“Warrants”) having an exercise price of $66.00 per common share. The holders of the Warrants had the ability to receive a variable number of shares pursuant to exercise terms or receive cash settlement under certain conditions. Pursuant to these conditions, the Warrants were treated as financial liabilities measured at fair value through profit or loss. The Warrants expired unexercised in the year ended September 30, 2023.

Valuation

The Company uses the Black-Scholes option pricing model to estimate fair value. The following weighted average assumptions were used to estimate the fair value of the derivative warrant liabilities on September 30, 2022:

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​	​	​	​	​
​	​	​	​	​
​	​	​	September 30,	​
​	​	​	2022	​
​	​	​	​	​
Risk-free interest rate		​	3.55	%
Expected life		​	0.28	years
Expected annualized volatility		​	73.3	%
Dividend		​	—	​
Liquidity discount		​	20	%

​

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- References

No definition available.

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- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-URI https://asc.fasb.org/topic&trid=2229140

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 50
-Paragraph 5
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126731327&loc=d3e90205-114008

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