ACQUISITIONS (Tables)

9 Months Ended

Jun. 30, 2018

ACQUISITIONS [Abstract]

Schedule of allocation of the purchase price in connection with the acquisition

The Company’s allocation of the purchase price in connection with the acquisition was calculated as follows:

	Balance as of
	May 17, 2016
Share consideration transferred	$	7,675,000
Forgiveness of receivable	607,159
Consideration transferred	$	8,282,159
Less: Fair value of assets acquired
Cash and cash equivalents	(5,116,609		)
Other receivables	(14,187		)
Prepayment	(66,856		)
Related party receivables	(20,412		)
Intellectual property	(236,269		)
In-Process research and development	(613,100		)
Plus: Liabilities assumed
Accounts payable and accrued expenses	492,603
Related party payables	15,656
Goodwill	$	2,722,985