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DEFICIENCY IN STOCKHOLDERS' EQUITY (Tables) | 12 Months Ended
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Sep. 30, 2021
DEFICIENCY IN STOCKHOLDERS' EQUITY |
Summary of warrant activity | The following table summarizes warrant activity for the years ended September 30, 2021 and 2020:
​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Weighted Average
​ | ​ | MAI shares | ​ | Exercise Price
Warrants outstanding at September 30, 2019 |  | 97,308 | ​ | $ | 8.84
Warrants exercised |  | — | ​ | $ | —
Warrants granted |  | 420,242 | ​ | $ | 8.84
Warrants expired |  | — | ​ | $ | —
Warrants outstanding at September 30, 2020 |  | 540,905 | ​ | $ | 8.84
​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted Average
​ | ​ | MAI shares |  | Exercise Price
Warrants outstanding at September 30, 2020 | ​ | 540,905 | ​ | $ | 8.84
Warrants exercised | ​ | — | ​ | $ | —
Warrants granted | ​ | 4,480,855 | ​ | $ | 8.84
Warrants expired | ​ | (97,308) | ​ | $ | 8.84
Warrants outstanding at September 30, 2021 | ​ | 4,924,447 | ​ | $ | 8.84
Schedule of assumptions used for warrants issued and outstanding | ​
​ | ​ | ​ | ​ | ​
​ |  | September 30, 2021 |
Expected term (in years) |  | ​ | 5.0 | ​
Volatility |  | ​ | 63.9 | %
Dividend yield |  | ​ | 0.00 | %
Risk-free interest rate |  | ​ | 0.34%-0.82 | %
Common stock price |  | $ | 5.43 | ​

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- Definition Tabular disclosure for assumptions used for the Black-Scholes option pricing model to value the warrants. + References No definition available. + 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -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 + Details
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