SUBSEQUENT EVENTS |
6 Months Ended | |||
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Mar. 31, 2019 | ||||
Subsequent Events [Abstract] | ||||
SUBSEQUENT EVENTS |
The Company evaluated all events or transactions that occurred through May 14, 2019, the date which these consolidated financial statements were available to be issued. On May 13, 2019, the Company announced the pricing of registered direct offering of 8,615,384 units, each unit consisting of a share of the Company’s common stock, and a Series H Warrant (“Series H Warrant”) to purchase a share of our common stock for the combined purchase price of $0.325 per unit. The Series H Warrants have an exercise price of $0.40 per share and are exercisable for a period of five years. The offering closed on May 14, 2019. The gross proceeds to Arch from the 2019 Financing were approximately $2.8 million before deducting financing costs of approximately $80,000. |