Interest Expense

9 Months Ended

Jun. 30, 2017

Notes to Financial Statements

Note 11 - Interest Expense

Interest expense includes direct interest of $76,430 and $ (248,425) for the three-month periods ended June 30, 2017 and 2016, respectively, and $156,399 and $(451,886) for the nine months ended June 30, 2017 and 2016, respectively, calculated based on the interest rates stated in our various debt instruments.

In addition, interest expense includes non-cash amortization of the debt discount of $25,815 and $0 for the three-month periods ended June 30, 2017 and 2016, respectively and $62,612 and $0 for the nine months ended June 30, 2017 and 2016, respectively.