XML 112 R16.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Preferred Stock
12 Months Ended
Sep. 30, 2019
Equity [Abstract]  
Preferred Stock

Note 10 - Preferred Stock


Series One and One-A Preferred Stock Purchase Agreement


On July 15, 2016, the Company sold to accredited investors an aggregate of 2,652,072 shares of Series One and 1,046,147 of Series One-A Preferred Shares (collectively, “Preferred Stock”).


The Preferred Stock is convertible into the Company’s Common Stock on a 1 for 1 basis at the holders’ option. The Preferred Stock does not contain any redemption provisions. The Preferred Stock does not pay dividends and vote together with the common stock of the Company as a single class on all actions to be taken by the stockholders of the Company.