Income Taxes (Tables)

12 Months Ended

Sep. 30, 2018

Components of the Net Deferred Tax (Liability)

Components of the net deferred tax asset (liability) at September 30, 2018 and 2017 are as follows:

		2018		2017
Deferred tax assets:
Accrued compensation	$	1,085,908		$	1,337,619
Stock compensation		4,188,368			5,670,468
Capitalized research and development		1,227,137			2,196,542
Fixed Assets		404,836			203,477
Net operating losses		114,142,741			132,119,837
Intangible Assets		3,854,752			5,358,700
Deferred Revenue		—			1,068,206
Deferred Rent		566,535			865,675
Capital Loss		709,779			1,020,162
Total deferred tax assets		126,180,056			149,840,686
Valuation allowance		(116,875,075	)		(136,625,436	)
Deferred tax liabilities:
State taxes		(9,304,981	)		(13,215,250	)
Total deferred tax liability		(9,304,981	)		(13,215,250	)
Net deferred tax assets (liabilities)	$	—		$	—

Provisions for Income Taxes

The provisions for income taxes for the years ended September 30, 2018 and 2017 are as follows:

	2018		2017
Federal:
Current		—		—
Deferred		—		—
Total Federal		—		—
State:
Current	$	2,400		2,400
Deferred		—		—
Total State	$	2,400		2,400
Provision from income taxes	$	2,400		2,400

Summary of Effective Income Tax Rate Reconciliation

The Company’s effective income tax rate differs from the statutory federal income tax rate as follows for the years ended September 30, 2018 and 2017:

	2018		2017
At U.S. federal statutory rate	21.0	%		34.0	%
State taxes, net of federal effect	7.9			4.9
Stock compensation	2.6			(5.8	)
Mark-to-market adjustments	0.2			0.9
Valuation allowance	36.2			(23.1	)
True-up on deferred taxes	—			(3.0	)
State blended rate change	—			(5.7	)
Federal tax rate change in 2018	(67.9)			—
Other	—			(2.2	)
Effective income tax rate	0.0	%		0.0	%