STOCKHOLDERS' EQUITY (Tables)
|
6 Months Ended |
Mar. 31, 2017 |
Equity [Abstract] |
|
Schedule of stock-based compensation expense |
Stock-based compensation expense included in the accompanying statements of operations for the year
ended March 31, 2017 and 2016 is as follows:
|
|
For the three months ended March 31 |
|
|
|
2017 |
|
|
2016 |
|
Research |
|
$ |
2,200 |
|
|
$ |
10,400 |
|
Product Development |
|
|
93,000 |
|
|
|
7,700 |
|
Sales and marketing |
|
|
24,400 |
|
|
|
14,900 |
|
General and administrative |
|
|
62,100 |
|
|
|
7,200 |
|
Total |
|
$ |
181,700 |
|
|
$ |
40,200 |
|
|
|
For the six months ended March 31 |
|
|
|
2017 |
|
|
2016 |
|
Research |
|
$ |
8,700 |
|
|
$ |
20,800 |
|
Product Development |
|
|
190,400 |
|
|
|
16,800 |
|
Sales and marketing |
|
|
46,900 |
|
|
|
14,900 |
|
General and administrative |
|
|
216,700 |
|
|
|
18,400 |
|
Total |
|
$ |
462,700 |
|
|
$ |
70,900 |
|
|
Schedule of stock option activity |
A summary of stock
option activity is as follows:
|
|
Number of Shares |
|
|
Weighted Average Exercise Price |
|
Outstanding at September 30, 2016 |
|
|
223,120 |
|
|
$ |
50.98 |
|
Granted |
|
|
102,000 |
|
|
|
6.00 |
|
Exercised |
|
|
- |
|
|
|
- |
|
Forfeited |
|
|
(25 |
) |
|
|
1,800.00 |
|
Outstanding at December 31, 2016 |
|
|
325,095 |
|
|
$ |
36.74 |
|
Granted |
|
|
23,000 |
|
|
|
6.19 |
|
Exercised |
|
|
- |
|
|
|
- |
|
Forfeited |
|
|
- |
|
|
|
- |
|
Outstanding at March 31, 2017 |
|
|
348,095 |
|
|
$ |
34.72 |
|
|
Schedule of the status of options outstanding |
Following is a summary
of the status of options outstanding at March 31, 2017:
Exercise
Price ($)
|
|
|
Number
of Shares
|
|
|
Expiration
Date
|
|
Weighted Average
Exercise Price ($)
|
|
2012 Omnibus Incentive Compensation
Plan |
|
|
|
|
|
|
$ |
5.10 |
|
|
|
8,250 |
|
|
04/2026 |
|
$ |
5.10 |
|
|
5.90 |
|
|
|
18,000 |
|
|
03/2027 |
|
|
5.90 |
|
|
6.00 |
|
|
|
246,000 |
|
|
09/2026 – 10/2026 |
|
|
6.00 |
|
|
7.25 |
|
|
|
5,000 |
|
|
02/2017 |
|
|
7.25 |
|
|
11.00 |
|
|
|
8,750 |
|
|
08/2025 |
|
|
11.00 |
|
|
9.44 |
|
|
|
43,978 |
|
|
12/2022 – 01/2023 |
|
|
9.44 |
|
|
50.00 |
|
|
|
13,577 |
|
|
03/2023 – 01/2025 |
|
|
50.00 |
|
|
52.00 |
|
|
|
2,125 |
|
|
07/2024 |
|
|
52.00 |
|
|
600.00 |
|
|
|
216 |
|
|
03/2022 |
|
|
600.00 |
|
|
Total 2012 Plan |
|
|
|
345,896 |
|
|
|
|
$ |
8.94 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2006 Stock Incentive Plan |
|
|
|
|
|
|
|
$ |
2,400.00 |
|
|
|
144 |
|
|
03/2019 – 07/2020 |
|
$ |
2,400.00 |
|
|
2,820.00 |
|
|
|
51 |
|
|
03/2021 |
|
|
2,820.00 |
|
|
3,060.00 |
|
|
|
7 |
|
|
09/2018 |
|
|
3,060.00 |
|
|
3,300.00 |
|
|
|
1,325 |
|
|
03/2020 |
|
|
3,300.00 |
|
|
4,800.00 |
|
|
|
24 |
|
|
12/2017 |
|
|
4,800.00 |
|
|
5,340.00 |
|
|
|
162 |
|
|
09/2017 |
|
|
5,340.00 |
|
|
5,760.00 |
|
|
|
61 |
|
|
04/2018 |
|
|
5,760.00 |
|
|
6,540.00 |
|
|
|
425 |
|
|
08/2017 |
|
|
6,540.00 |
|
|
Total 2006 Plan |
|
|
|
2,199 |
|
|
|
|
$ |
4,090.26 |
|
|
Total options outstanding |
|
|
|
348,095 |
|
|
Average |
|
$ |
34.72 |
|
|
Schedule of share-based compensation warrants |
The warrant activity for the period starting
October 1, 2016, through March 31, 2017, is described as follows:
|
|
Number of Shares |
|
|
Weighted Average Exercise Price |
|
Outstanding at September 30, 2016 |
|
|
7,160 |
|
|
$ |
50.41 |
|
Granted |
|
|
- |
|
|
|
- |
|
Exercised |
|
|
- |
|
|
|
- |
|
Expired |
|
|
(14 |
) |
|
|
200.00 |
|
Forfeited |
|
|
- |
|
|
|
- |
|
Outstanding at December 31, 2016 |
|
|
7,146 |
|
|
$ |
50.12 |
|
Granted |
|
|
- |
|
|
|
- |
|
Exercised |
|
|
- |
|
|
|
- |
|
Expired |
|
|
(251 |
) |
|
|
103.78 |
|
Forfeited |
|
|
- |
|
|
|
- |
|
Outstanding at March 31, 2017 |
|
|
6,895 |
|
|
$ |
48.17 |
|
|
Schedule of the status of warrants outstanding |
Following is a summary of the status of
warrants outstanding at March 31, 2017:
Exercise Price |
|
|
Number of Shares |
|
|
Expiration Date |
|
Weighted Average Exercise Price |
|
$ |
9.44 |
|
|
|
191 |
|
|
03/2018 |
|
$ |
9.44 |
|
|
10.00 |
|
|
|
4,000 |
(1) |
|
06/2021 |
|
|
10.00 |
|
|
50.00 |
|
|
|
1,000 |
|
|
07/2017 |
|
|
50.00 |
|
|
55.00 |
|
|
|
1,620 |
|
|
06/2018 – 03/2019 |
|
|
55.00 |
|
|
1,800.00 |
|
|
|
84 |
|
|
07/2017 |
|
|
1,800.00 |
|
$ |
Total
|
|
|
|
6,895 |
|
|
|
|
$ |
48.17 |
|