ACCOUNTS PAYABLE AND ACCRUED EXPENSES

9 Months Ended

Jun. 30, 2018

ACCOUNTS PAYABLE AND ACCRUED EXPENSES [Abstract]

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

5.    ACCOUNTS PAYABLE AND ACCRUED EXPENSES

The following table summarizes the Company’s accounts payable and accrued expenses as of the following periods:

	June 30, 2018
	(Unaudited)		September 30, 2017
Accounts payable	$	570,411	$	658,921
Accrued expenses	607,531		319,918
	$	1,177,942	$	978,839

Accounts payable is predominantly made up of unpaid invoices relating to research and development, accounting and professional fees. Included within the accrued expenses balance of $607,531 at June 30, 2018 is approximately $193,000 relating to vendors for research and development expenses, $138,000 relating to an accrual for directors fees, approximately $21,000 relating payroll accruals, approximately $63,000 related to travel and entertainment expenses and approximately $193,000 of accrued legal and other costs.

Included within the accrued expenses balance of $319,918 at September 30, 2017 is $128,000 of accrued legal, accounting and professional fees, $60,000 for payroll related expenses and $50,000 for Directors fees.