Equity and Stock-based Compensation (Tables)

6 Months Ended

Mar. 31, 2019

Equity [Abstract]

Share-based Compensation, Stock Options, Activity

The following table summarizes our stock option activity during the six months ended March 31, 2019:

	Options			Weighted Average Exercise Price
Outstanding at beginning of period	1,248,758			$	7.69
Granted	198,850			5.35
Exercised	(11,086		)	3.35
Forfeited	(258,930		)	9.02
Outstanding at end of period	1,177,592			$	7.04
Exercisable at end of period	914,159			$	7.50
Weighted average fair value of options granted during the period	$	3.08

Fair Value Assumptions

The fair value of options was estimated at the applicable grant date using the Black-Scholes option pricing model with the following assumptions:

	Six Months Ended March 31, 2019
Risk free interest rate	3%
Expected life	6 years
Dividend rate	0%
Volatility	60%