Equity and Stock-based Compensation (Tables)

9 Months Ended

Jun. 30, 2019

Equity [Abstract]

Share-based Compensation, Stock Options, Activity

The following table summarizes our stock option activity during the nine months ended June 30, 2019:

	Options			Weighted Average Exercise Price
Outstanding at beginning of period	1,248,758			$	7.69
Granted	198,850			5.35
Exercised	(41,711		)	4.28
Forfeited	(318,757		)	9.02
Outstanding at end of period	1,087,140			$	7.01
Exercisable at end of period	831,775			$	7.49
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:

	Nine Months Ended June 30, 2019
Risk free interest rate	3%
Expected life	6 years
Dividend rate	0%
Volatility	60%