Income Taxes (Tables)

12 Months Ended

Sep. 30, 2020

Income Tax Disclosure [Abstract]

Components of the Net Deferred Tax (Liability)

Components of the net deferred tax asset (liability) at September 30, 2020 and 2019 are as follows:

	September 30,
	2020			2019
Deferred Tax Assets
Accrued Compensation	$	2,086,396		$	1,310,466
Stock Compensation		10,936,819			3,609,756
Capitalized Research & Development		624,915			926,026
California Alternative Minimum Tax		178,652			173,553
Fixed Assets		-			438,882
Net Operating Losses		151,007,113			105,372,571
Intangible Assets		2,818,002			3,590,090
Deferred Revenue		1,702,357			-
Right of Use Assets/Lease Liabilities		1,015,626			-
Deferred Rent		-			821,317
Capital Loss		709,779			709,779
Total deferred tax assets		171,079,659			116,952,440
Valuation allowance		(156,603,859	)		(108,232,402	)
Deferred tax liabilities:
Fixed Assets		(2,546,968	)		-
State taxes		(11,928,832	)		(8,720,038	)
Total deferred tax liability		(14,475,800	)		(8,720,038	)
Net deferred tax assets (liabilities)	$	-		$	-

Provisions for Income Taxes

The provisions for income taxes for the years ended September 30, 2020 and 2019 are as follows:

	September 30,
	2020		2019
Federal:
Current		—		—
Deferred		—		—
Total Federal		—		—
State:
Current	$	2,400		173,553
Deferred		—		—
Total State		2,400		173,553
Provision from income taxes	$	2,400	$	173,553

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, 2020 and 2019:

	September 30,
	2020			2019
At U.S. federal statutory rate		-21.0	%		21.0	%
State taxes, net of federal effect		-7.0	%		7.3	%
Stock compensation		-29.4	%		-15.0	%
Mark-to-market adjustments		0.0	%		0.0	%
Valuation allowance		57.4	%		-13.0	%
Other		0.0	%		0.0	%
True-up on deferred taxes		0.0	%		0.0	%
Tax rate change		0.0	%		0.0	%
Effective income tax rate		0.0	%		0.3	%