5. STOCK OPTIONS

3 Months Ended

Dec. 31, 2019

Notes

5. STOCK OPTIONS

5.  STOCK OPTIONS

The following table summarizes stock option activity for three months ended December 31, 2019:

		Weighted	Weighted
		Average	Average
	Number of	Exercise	Remaining	Aggregate
	Shares	Price	Contractual Life (years)	Intrinsic Value
Outstanding at September 30, 2019	1,795,667	$ 6.91	8.4	$ 33,384,360
Granted	-	-
Exercised	-	-
Expired	-	-
Forfeited	-	-
Outstanding at December 31, 2019	1,795,667	$ 6.91	8.1	158,183,193
Exercisable at December 31, 2019	520,667	$ 2.36	7.7	$ 48,236,293

The Company is expensing these stock option awards on a straight-line basis over the requisite service period. The Company recognized

stock option expenses of $2,220,861 for the three months ended December 31, 2019. Unamortized option expense as of December 31, 2019, for all options outstanding amounted to approximately $7,973,468. These costs are expected to be recognized over a weighted-average period of 1.2 years. The Company recognized stock option expenses of $1,789,751 for three months ended December 31, 2018.

A summary of the status of the Company’s nonvested shares as of December 31, 2019, is presented below:

Nonvested options
	Number of
	Nonvested Shares
Nonvested shares at September 30, 2019	1,278,333
Granted	-
Exercised	-
Forfeited	-
Vested	(3,333)
Nonvested shares at December 31, 2019	1,275,000