9. SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Sep. 30, 2019

Share-based Payment Arrangement [Abstract]

Assumptions used

In applying the Black-Scholes option pricing model to options granted, the Company used the following assumptions:

	For the Years Ended September 30,
	2019	2018
Expected term (years)	2.50-2.75	2.50-5.00
Expected volatility	82.0%	80.0%-103.1%
Risk free interest rate	2.53%	2.45%-2.84%
Expected dividends	0.00%	0.00%
Estimated annual forfeiture rate	0%	10%

Schedule of stock option activity

The following table summarizes stock option activity during the year ended September 30, 2019:

	Number of Options			Weighted Average Exercise Price		Weighted Average Remaining Life In Years		Intrinsic Value
Outstanding, September 30, 2018		545,066		$	1.78
Granted		290,481			1.54
Exercised		–			–
Forfeited		(22,668	)		1.78
Expired		–
Outstanding, September 30, 2019		812,879		$	1.69		3.8	$	18,750
Exercisable, September 30, 2019		622,007		$	1.73		3.7	$	18,750

Schedule of option activity by exericse price

The following table provides additional information regarding stock option awards that were outstanding and exercisable at September 30, 2019:

Options Outstanding						Options Exercisable
		Weighted				Weighted		Weighted
		Average		Outstanding		Average		Average		Exercisable
Exercise		Exercise		Number of		Exercise		Remaining Life		Number of
Price		Price		Options		Price		In Years		Options
	$0.64 to $1.23	$	0.80		77,500	$	0.80		5.1		77,500
	$1.44 to $1.67		1.51		606,879		1.49		4.3		416,007
	$2.20 to $2.85		2.48		66,000		2.48		0.6		66,000
	$3.73 to $3.79		3.74		62,500		3.74		1.4		62,500
					812,879				3.7		622,007

Schedule restricted stock option activity

The following table summarizes restricted stock activity during the year ended September 30, 2019:

				Weighted
				Average		Total
	Number of			Grant Date		Grant Date
	Shares			Fair Value		Fair Value
Non-vested, September 30, 2018		6,028		$	1.24	$	7,475
Granted		–			–		–
Vested		(6,028	)		1.24		(7,475	)
Forfeited		–			–		–
Non-vested, September 30, 2019		–		$	–	$	–