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SHORT-TERM INVESTMENTS | 6 Months Ended
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Mar. 31, 2023
SHORT-TERM INVESTMENTS |
SHORT-TERM INVESTMENTS | 4. SHORT-TERM INVESTMENTS ​ Short-term investments consist of guaranteed investment certificates (“GICs”) held at financial institutions purchased in accordance with the Company’s treasury policy. These GICs and term deposits bear interest at 4.30%-4.85% per annum and have maturities of up to 12 months. ​ Short-term investments also consist of U.S. treasury securities, corporate debt securities and commercial paper. The Company has classified these investments as available-for-sale, as the sale of such investments may be required prior to maturity to implement management strategies, and therefore has classified all investment securities as current assets. Those investments with maturity dates of three months or less at the date of purchase are presented as cash equivalents in the accompanying balance sheets. Short-term investments are carried at fair value with the unrealized gains and losses included in accumulated other comprehensive loss as a component of shareholders’ equity (deficit) until realized. Any premium or discount arising at purchase is amortized or accreted to interest income as an adjustment to yield using the straight-line method over the life of the instrument. The Company records an allowance for credit losses when unrealized losses are due to credit-related factors. Realized gains and losses are calculated using the specific identification method and recorded as interest income. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | As of March 31, 2023
​ | ​ | ​ | Amortized | ​ | Unrealized | ​ | ​ | Accrued | ​ | ​ | Estimated
​ |  | ​ | Cost |  | ​ | Gains |  | ​ | Losses |  | ​ | Interest |  | ​ | Fair Value
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
GICs and Term deposits | ​ | $ | 40,043,353 |  | $ | — |  | $ | — |  | $ | 279,493 |  | $ | 40,322,846
U.S. Treasury securities | ​ | ​ | 71,334,448 | ​ | ​ | — | ​ | ​ | (84,966) | ​ | ​ | 105,093 | ​ | ​ | 71,354,575
Corporate debt securities | ​ |  | 1,068,360 |  | ​ | — |  | ​ | (3,388) |  | ​ | 644 |  | ​ | 1,065,616
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance, end of period | ​ | $ | 112,446,161 |  | $ | — |  | $ | (88,354) |  | $ | 385,230 |  | $ | 112,743,037
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | As of September 30, 2022
​ | ​ | ​ | Amortized | ​ | Unrealized | ​ | ​ | Accrued | ​ | ​ | Estimated
​ |  | ​ | Cost |  | ​ | Gains |  | ​ | Losses |  | ​ | Interest |  | ​ | Fair Value
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
GICs and Term deposits | ​ | $ | 89,688,690 |  | $ | — |  | $ | — |  | $ | 316,960 |  | $ | 90,005,650
U.S. Treasury securities | ​ | ​ | 11,149,053 | ​ | ​ | — | ​ | ​ | (39,590) | ​ | ​ | 39,720 | ​ | ​ | 11,149,183
Corporate debt securities | ​ |  | 3,034,417 |  | ​ | — |  | ​ | (19,076) |  | ​ | 29,258 |  | ​ | 3,044,599
Commercial paper | ​ |  | 5,961,597 |  | ​ | — |  | ​ | — |  | ​ | — |  | ​ | 5,961,597
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance, end of period | ​ | $ | 109,833,757 |  | $ | — |  | $ | (58,666) |  | $ | 385,938 |  | $ | 110,161,029
​ As of March 31, 2023, short-term investments have an aggregate fair market value of $112.7 million (September 30, 2022 – $110.2 million) were in an aggregate gross unrealized loss position of $88,354 (September 30, 2022 - $58,666). The Company considers the decline in market value for the securities to be primarily attributable to current economic and market conditions. These particular investments have been in an unrealized loss position for less than 12 months and it is not more likely than not that the Company will be required to sell any of its securities prior to maturity. Accordingly, no allowance for credit losses has been recorded as of March 31, 2023 and no realized gains or losses on sales of short-term investments have been recorded through March 31, 2023.

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- Definition The entire disclosure of the components of cash, cash equivalents, and short-term investments. Short-term investments may include current marketable securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 + Details
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