Quarterly report pursuant to Section 13 or 15(d)

REGISTERED DIRECT OFFERING 2018 (Tables)

v3.19.1
REGISTERED DIRECT OFFERING 2018 (Tables) - 2018 Registered Direct Offering [Member]
6 Months Ended
Mar. 31, 2019
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
 
Fair Value Measurements Using Significant Unobservable Inputs

(Level 3)
 
 
 
 
 
 
 
 
March 31,

2019
 
 
September 30,

2018
 
Balance at September 30, 2018 and 2017
 
$
1,917,348
 
 
$
-
 
 
 
 
 
 
 
 
 
 
Issuances
 
 
-
 
 
 
2,397,454
 
 
 
 
 
 
 
 
 
 
Adjustments to estimated fair value
 
 
(359,411
)   
 
 
(480,106
)  
 
 
 
 
 
 
 
 
 
Ending balance at March 31, 2019 and September 30, 2018
 
$
1,557,937
 
 
$
1,917,348
 
Schedule of Assumptions Used to Value Derivative Liability
The derivative liabilities were valued as of March 31, 2019 using the Black Scholes Model with the following assumptions:
 
 
 
March 31,

2019
 
 
September 30,

2018
 
Closing price per share of common stock
 
$
0.391
 
 
$
0.42
 
Exercise price per share
 
$
0.70
 
 
$
0.70
 
Expected volatility
 
 
94.54
%
 
 
100.18
%
Risk-free interest rate
 
 
2.34
%
 
 
2.94
%
Dividend yield
 
 
 
 
 
 
Remaining expected term of underlying securities (years)
 
 
4.24
 
 
 
4.74