Income Taxes (Tables)

12 Months Ended

Sep. 30, 2021

Income Tax Disclosure [Abstract]

Components of the Net Deferred Tax (Liability)

Components of the net deferred tax asset (liability) at September 30, 2021 and 2020 are as follows:

	September 30,
	2021			2020
	(in thousands)
Deferred Tax Assets
Accrued Compensation	$	2,371		$	2,086
Stock Compensation		22,454			10,937
Capitalized Research & Development		324			625
California Alternative Minimum Tax		179			179
Fixed Assets		-			-
Net Operating Losses		185,431			151,007
Intangible Assets		3,562			2,818
Deferred Revenue		-			1,702
Right of Use Assets/Lease Liabilities		1,938			1,016
Capital Loss		-			710
Total deferred tax assets		216,259			171,080
Valuation allowance		(194,255	)		(156,604	)
Deferred tax liabilities:
Fixed Assets		(6,360	)		(2,547	)
State taxes		(15,644	)		(11,929	)
Total deferred tax liability		(22,004	)		(14,476	)
Net deferred tax assets (liabilities)	$	-		$	-

Provisions for Income Taxes

The provisions for income taxes for the years ended September 30, 2021 and 2020 are as follows:

	September 30,
	2021		2020
	(in thousands)
Federal:
Current		—		—
Deferred		—		—
Total Federal		—		—
State:
Current	$	2	$	2
Deferred		—		—
Total State		2		2
Provision from income taxes	$	2	$	2

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, 2021 and 2020:

	September 30,
	2021			2020
At U.S. federal statutory rate		-21.0	%		-21.0	%
State taxes, net of federal effect		-7.0	%		-7.0	%
Stock compensation		-1.3	%		-13.3	%
Mark-to-market adjustments		0.0	%		0.0	%
Valuation allowance		29.3	%		43.3	%
Other		0.0	%		-2.0	%
True-up on deferred taxes		0.0	%		0.0	%
Tax rate change		0.0	%		0.0	%
Effective income tax rate		0.0	%		0.0	%