Quarterly report pursuant to Section 13 or 15(d)

2019 REGISTERED DIRECT OFFERING (Tables)

v3.20.2
2019 REGISTERED DIRECT OFFERING (Tables) - Registered Direct Offering 2019 [Member]
9 Months Ended
Jun. 30, 2020
Schedule of fair value measurements

 

 

 

 

 

 

 

Fair Value Measurements Using Significant Unobservable Inputs

    

June 30, 

    

September 30, 

(Level 3)

 

2020

 

2019

Beginning balance at September 30, 2019 and 2018

 

$

1,247,415

 

$

 —

 

 

 

 

 

 

 

Issuances

 

 

 

 

1,628,113

 

 

 

 

 

 

 

Adjustments to estimated fair value

 

 

(719,831)

 

 

(380,698)

 

 

 

 

 

 

 

Ending balance at June 30, 2020 and September 30, 2019

 

$

527,584

 

$

1,247,415

 

Schedule of assumptions used to value derivative liabilities

The derivative liabilities were valued as of June 30, 2020, September 30, 2019 and May 14, 2019 using the Black Scholes Model with the following assumptions:

 

 

 

 

 

 

 

 

 

 

 

 

 

    

June 30, 

    

September 30, 

    

May 14,

 

 

 

2020

 

2019

 

2019

 

Closing price per share of common stock

 

$

0.16

 

$

0.24

 

$

0.283

 

Exercise price per share

 

$

0.40

 

$

0.40

 

$

0.40

 

Expected volatility

 

 

81.94

%

 

92.11

%

 

93.44

%

Risk-free interest rate

 

 

0.24

%

 

1.55

%

 

2.20

%

Dividend yield

 

 

 

 

 —

 

 

 —

 

Remaining expected term of underlying securities (years)

 

 

3.85

 

 

4.61

 

 

5.00