Annual report pursuant to Section 13 and 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.10.0.1
STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Sep. 30, 2018
Equity [Abstract]  
Schedule of assumptions used to calculate the fair value of warrants issued on grant date

The following assumptions were used to calculate the fair value of the Company’s warrants issued as stock based compensation on the date of grant:

 

    Year Ended September 30,  
    2018     2017  
Expected term     1.59 to 2 years        
Expected volatility     73% - 161 %      
Expected dividends     0 %      
Risk-free rates     1.73% - 2.42 %      
Schedule of warrants issued and outstanding

Below is a table summarizing the warrants issued and outstanding as of September 30, 2018 and 2017:

 

    Warrants     Price  
Outstanding at September 30, 2016     614,923     $ 5.08  
Granted                
     Investor warrants     20,002,560       1.56  
     Stock-based compensation warrants            
Exercised                
     Investor warrants            
     Stock-based compensation warrants            
Forfeited or expired                
     Investor warrants     (4,213,331 )     3.03  
     Stock-based compensation warrants     (226,042 )     7.37  
Outstanding at September 30, 2017     16,178,110     $ 1.23  
Granted                
     Investor warrants            
     Stock-based compensation warrants     250,000       1.00  
Exercised                
     Investor warrants     (270,000 )     1.00  
     Stock-based compensation warrants            
Forfeited or expired                
     Investor warrants            
     Stock-based compensation warrants     (40,000 )     4.32  
Outstanding at September 30, 2018     16,118,110     $ 1.22  
Exercisable at September 30, 2018     16,118,110     $ 1.22  

Schedule of assumptions used to calculate the fair value of options issued on grant date

The following assumptions were used to calculate the fair value of the Company’s options on the date of grant:

 

    Year Ended September 30,  
    2018     2017  
Expected term   3.25-5 years     5.75 years  
Expected volatility     101 %     91 %
Expected dividends     0 %     0 %
Risk-free rates     1.68 %     1.49 %
Schedule of stock option activity

Below is a table summarizing the options issued and outstanding as of September 30, 2018 (“Price” reflects the weighted average exercise price per share):

 

    Year Ended September 30,  
    2018     2017  
    Options     Price     Options     Price  
Outstanding October 1     2,250,500     $ 5.58       2,857,468     $ 6.66  
Granted     1,640,000     $ 0.67       750,000     $ 0.65  
Exercised         $ 0.00           $ 0.00  
Forfeited or expired     (758,000 )   $ 6.05       (1,356,968 )   $ 5.13  
Outstanding September 30     3,132,500     $ 2.89       2,250,500     $ 5.58  
Exercisable September 30     1,967,494     $ 4.21       1,755,247     $ 6.00  
Weighted average fair value per option  granted           $ 0.44             $ 0.48  

Schedule of restricted stock activity

Below is a table summarizing nonvested restricted stock shares as of September 30, 2018, and changes during the years ended September

30, 2018, and 2017:

 

    Shares   Weighted Average
Grant Date Fair Value
Nonvested at September 30, 2016       600,358     $ 4.80  
     Granted       —         —    
     Vested       (315,179 )     4.79  
     Forfeited       (15,000 )     9.78  
Nonvested at September 30, 2017       270,179     $ 4.53  
     Granted       —         —    
     Vested       (270,179 )     4.53  
     Forfeited       —         —    
Nonvested at September 30, 2018       —       $ —