Annual report pursuant to Section 13 and 15(d)

Warrants (Tables)

Warrants (Tables)

12 Months Ended

Sep. 30, 2019

Warrants And Rights Note Disclosure [Abstract]

The Company issued several notes in prior periods and converted them resulting in the issuance of Series B Convertible Preferred Stock warrants. The following table summarizes information about the Company’s warrants at September 30, 2019 and September 30, 2018, respectively:

Number of

units -

Series B

Convertible

preferred

warrants

Weighted

Average

Exercise

Price`

Weighted

Average

Remaining

Contractual

Term

(in years)

Intrinsic

Value

Outstanding and Exercisable at September 30, 2018

118,029

20.80

1.35

—

Outstanding and Exercisable at September 30, 2019

118,029

20.80

0.53

—

Summary of Information Assuming Warrants are Exercised and Exchanged for Common Shares

As discussed in Note 8. Stockholders’ Equity, the warrants may be exchanged for shares of common stock at a ratio of one share of Series B Preferred Stock into five common shares. The following table provides information assuming the warrants are exercised and exchanged for common shares:

Number of

Common

Shares to be

Issued

Weighted

Average

Exercise

Price Per

Common

Weighted

Average

Remaining

Contractual

Term

(in years)

Intrinsic

Value

Outstanding and Exercisable at September 30, 2018

590,147

4.16

1.35

2,856

Outstanding and Exercisable at September 30, 2019

590,147

4.16

0.53

2,602

Summary of Warrants Outstanding and Exercisable

The exercise price for the Series B convertible preferred stock warrants outstanding and exercisable at September 30, 2019 is as follows:

Series B Convertible Preferred
Outstanding				Exercisable
Number of Warrants		Exercise Price		Number of Warrants		Exercise Price
	54,396	$	16.60		54,396	$	16.60
	17,857		16.80		17,857		16.80
	12,383		24.30		12,383		24.30
	33,393		28.50		33,393		28.50
	118,029				118,029