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SHARE-BASED COMPENSATION | 9 Months Ended
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Jun. 30, 2023
SHARE-BASED COMPENSATION |
SHARE-BASED COMPENSATION | NOTE 11 – SHARE-BASED COMPENSATION The Company has a share incentive plan that is part of its annual discretionary share-based compensation program. The plan includes consultants and employees, including directors and officers. For employees, they are notified of company share incentives during the onboarding process. The employee’s offer letter briefly describes the plan. Subject to the approval of our Board of Directors Compensation Committee, employees are issued a specified number of shares of the Company’s common stock. The total expense of share awards to employees represents the grant date fair value of relevant number of shares to be issued and is recognized, along with additional paid-in capital, ratably over the vesting period. The Company has also adopted the CEO Award Incentive Plan, approved by the Board and by stockholders on July 26, 2022 at the 2022 Annual Meeting of Stockholders. Under this plan, the Chief Executive Officer is entitled to share-based awards generally calculated as 1-2% of then outstanding number of shares of common stock, issuable upon achievement of specific financial and operational targets (milestones) that are supposed to significantly increase value of the Company. The compensation is accrued over the service term when it is probable that the milestone will be achieved. As at June 30, 2023 the accrual for future awards is approximately $3.4 million. From time to time the Company also issues share-based compensation to external consultants providing consulting, marketing, R&D, legal and other services. The number of shares specified within the individual agreements is generally negotiated by our Chief Executive Officer and approved by the Board. A part of these share-based awards is classified as equity, similar to stock-based compensation to employees. Another part of the Company’s share-based awards to consultants is classified as liabilities: e.g. if a number of shares consultant is entitled to is predominantly based on monetary value fixed in the contract. A vested part of liability in this case is revaluated each period based on market price of the common shares of the Company, until sufficient number of shares is issued. The common stock provided for services to consultants is accounted for as professional fees within G&A and R&D expenses and employee, director and management share issuances are a part of compensation expense. ​
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​ | ​ | For the three months ended June 30, | ​ | For the nine months ended June 30, | ​
Composition of Share-Based Compensation Expense |  | 2023 |  | 2022 |  | 2023 |  | 2022 | ​
Directors, officers and employees share-based compensation | ​ | $ | 3,678,278 | ​ | $ | 96,495 | ​ | $ | 51,329,014 | ​ | $ | 20,049,336 | ​
Share-based compensation to consultants (equity-classified) | ​ | ​ | 903,264 | ​ | ​ | 4,928,824 | ​ | ​ | 7,367,107 | ​ | ​ | 12,288,735 | ​
Share-based compensation to consultants (liability-classified) | ​ |  | 6,130,462 | ​ |  | 119,344 | ​ |  | 12,319,250 | ​ |  | 141,639 | ​
Total share-based compensation expense | ​ | $ | 10,712,004 | ​ | $ | 5,144,663 | ​ | $ | 71,015,371 | ​ | $ | 32,479,710 | ​
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