Annual report pursuant to Section 13 and 15(d)

Fair Value (Tables)

v3.21.4
Fair Value (Tables)
12 Months Ended
Sep. 30, 2021
Fair Value  
Schedule of fair value hierarchy for its warrant liabilities measured at fair value

    

Fair Value Measurements 

as of September 30, 2021

(Level 1)

    

(Level 2)

    

(Level 3)

    

Total

Liabilities

 

  

 

  

 

  

 

  

Warrant liabilities

$

 

 

$

    

Fair Value Measurements 

as of September 30, 2020

(Level 1)

(Level 2)

    

(Level 3)

    

Total

Liabilities

 

  

 

  

 

  

 

  

Warrant liabilities

$

 

 

950,151

$

950,151

Schedule of assumptions were used in determining the fair value of the warrant liabilities

The following assumptions were used in determining the fair value of the warrant liabilities as of September 30, 2021 and 2020:

    

As of September 30,

 

2021

    

2020

 

Remaining contractual term (years)

 

0.2 - 0.5

 

1.2 - 1.5

Common stock price volatility

 

60.6% - 62.5

%  

91.1% - 96.1%

*

Risk-free interest rate

 

0.04

%  

0.12%-0.13

%

Expected dividend yield

 

 

* The Company was historically a private company and lacked company-specific historical and implied volatility information, therefore the Company estimated its expected stock volatility based on the historical volatility of a set of publicly traded peer companies.

Schedule of change in fair value of the warrant liabilities

Fair value as of September 30, 2019

    

$

496,343

Change in fair value

 

453,808

Fair value as of September 30, 2020

 

950,151

Change in fair value

 

(950,151)

Fair value as of September 30, 2021