20. SUBSEQUENT EVENTS	12 Months Ended
Sep. 30, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	The Company has analyzed its operations subsequent to September 30, 2020 to the date these audited consolidated financial statements were issued, and with the rapid spread of COVID-19 around the world and the continuously evolving responses to the pandemic, we have witnessed the significant and growing negative impact of COVID-19 on the global economic and operating environment. We find that the impact of COVID-19 on the Company is unknown at this time and the financial consequences of this situation cause uncertainty as to the future and its effects on the economy and the Company. However, we are monitoring the rapidly evolving situation and its potential impacts on our financial condition, liquidity, operations, suppliers, industry and workforce. At March 31, 2020, one customer related to our discontinued operations had breached their formal agreement on payments owed and on April 29, 2020, the Company filed a lawsuit for collection. On October 16, 2020, the lawsuit was settled and the account receivable balance for this customer of $416,666 was paid in full. Effective November 13, 2020 the Company entered into amendments to the employment agreements with Messrs. Martin A. Sumichrast and R. Scott Coffman, its co-Chief Executive Officers. Under the terms of Amendment No. 1 to the Executive Employment Agreement dated September 6, 2018 between the Company and Mr. Sumichrast, the Company increased Mr. Sumichrast’s annual base salary to $335,000 and awarded him a discretionary cash bonus of $250,000, payable in January 2021, provided that (a) the Executive Employment Agreement with Mr. Sumichrast has not otherwise been terminated by either party for any reason, (b) the Company’s audited financial statements for the year ended September 30, 2020 shall have been completed and the Company’s independent registered public accounting firm shall have issued an unqualified opinion on such financial statements, and (c) the Company shall have timely filed its Annual Report on Form 10-K for the fiscal year ended September 30, 2020. Under the terms of Amendment No. 1 to the Executive Employment Agreement dated December 20, 2018 between CBD Industries, LLC, a wholly-owned subsidiary of the Company, and Mr. Coffman, Mr. Coffman’s annual base salary was also increased to $335,000 and he was also awarded a discretionary bonus of $250,000, payable in January 2021, provided that (a) the Executive Employment Agreement with Mr. Coffman has not otherwise been terminated by either party for any reason, (b) the Company’s audited financial statements for the year ended September 30, 2020 shall have been completed and the Company’s independent registered public accounting firm shall have issued an unqualified opinion on such financial statements, and (c) the Company shall have timely filed its Annual Report on Form 10-K for the fiscal year ended September 30, 2020. On December 8, 2020, the Company entered into an underwriting agreement with ThinkEquity, a division of Fordham Financial Management, Inc., as representative of the underwriters, pursuant to which the Company agreed to sell to the underwriters in a firm commitment underwritten public offering an aggregate of 2,000,000 shares of its 8.0% Series A Cumulative Convertible Preferred Stock at an offering price of $7.50 per share, and to grant the underwriters a 45-day option to purchase up to an additional 300,000 shares of 8.0% Series A Cumulative Convertible Preferred Stock to cover over-allotments, if any. On December 11, 2020, the offering closed, and the Company issued an aggregate of 2,300,000 shares of its 8.0% Series A Cumulative Convertible Preferred Stock, which included the exercise of the full over-allotment option by the underwriters. At closing the Company issued the designees of the representative of the underwriters warrants to purchase an aggregate of 150,502 shares of the Company’s common stock exercisable at $3.74 per share. The net proceeds to the Company from the offering were approximately $15.7 million, after deducting underwriting discounts and commissions and other estimated expenses of the offering. The Company intends to use the net proceeds of the offering for general working capital.

20. SUBSEQUENT EVENTS

12 Months Ended

Sep. 30, 2020

The Company has analyzed its operations subsequent to September 30, 2020 to the date these audited consolidated financial statements were issued, and with the rapid spread of COVID-19 around the world and the continuously evolving responses to the pandemic, we have witnessed the significant and growing negative impact of COVID-19 on the global economic and operating environment. We find that the impact of COVID-19 on the Company is unknown at this time and the financial consequences of this situation cause uncertainty as to the future and its effects on the economy and the Company. However, we are monitoring the rapidly evolving situation and its potential impacts on our financial condition, liquidity, operations, suppliers, industry and workforce.

At March 31, 2020, one customer related to our discontinued operations had breached their formal agreement on payments owed and on April 29, 2020, the Company filed a lawsuit for collection. On October 16, 2020, the lawsuit was settled and the account receivable balance for this customer of $416,666 was paid in full.

Effective November 13, 2020 the Company entered into amendments to the employment agreements with Messrs. Martin A. Sumichrast and R. Scott Coffman, its co-Chief Executive Officers. Under the terms of Amendment No. 1 to the Executive Employment Agreement dated September 6, 2018 between the Company and Mr. Sumichrast, the Company increased Mr. Sumichrast’s annual base salary to $335,000 and awarded him a discretionary cash bonus of $250,000, payable in January 2021, provided that (a) the Executive Employment Agreement with Mr. Sumichrast has not otherwise been terminated by either party for any reason, (b) the Company’s audited financial statements for the year ended September 30, 2020 shall have been completed and the Company’s independent registered public accounting firm shall have issued an unqualified opinion on such financial statements, and (c) the Company shall have timely filed its Annual Report on Form 10-K for the fiscal year ended September 30, 2020. Under the terms of Amendment No. 1 to the Executive Employment Agreement dated December 20, 2018 between CBD Industries, LLC, a wholly-owned subsidiary of the Company, and Mr. Coffman, Mr. Coffman’s annual base salary was also increased to $335,000 and he was also awarded a discretionary bonus of $250,000, payable in January 2021, provided that (a) the Executive Employment Agreement with Mr. Coffman has not otherwise been terminated by either party for any reason, (b) the Company’s audited financial statements for the year ended September 30, 2020 shall have been completed and the Company’s independent registered public accounting firm shall have issued an unqualified opinion on such financial statements, and (c) the Company shall have timely filed its Annual Report on Form 10-K for the fiscal year ended September 30, 2020.

On December 8, 2020, the Company entered into an underwriting agreement with ThinkEquity, a division of Fordham Financial Management, Inc., as representative of the underwriters, pursuant to which the Company agreed to sell to the underwriters in a firm commitment underwritten public offering an aggregate of 2,000,000 shares of its 8.0% Series A Cumulative Convertible Preferred Stock at an offering price of $7.50 per share, and to grant the underwriters a 45-day option to purchase up to an additional 300,000 shares of 8.0% Series A Cumulative Convertible Preferred Stock to cover over-allotments, if any. On December 11, 2020, the offering closed, and the Company issued an aggregate of 2,300,000 shares of its 8.0% Series A Cumulative Convertible Preferred Stock, which included the exercise of the full over-allotment option by the underwriters. At closing the Company issued the designees of the representative of the underwriters warrants to purchase an aggregate of 150,502 shares of the Company’s common stock exercisable at $3.74 per share. The net proceeds to the Company from the offering were approximately $15.7 million, after deducting underwriting discounts and commissions and other estimated expenses of the offering. The Company intends to use the net proceeds of the offering for general working capital.