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DEFICIENCY IN STOCKHOLDERS' EQUITY (Tables)
12 Months Ended
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