Annual report pursuant to Section 13 and 15(d)

Warrants (Tables)

v3.20.4
Warrants (Tables)
12 Months Ended
Sep. 30, 2020
Warrants And Rights Note Disclosure [Abstract]  
Summary of Warrant Activity

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, 2020 and September 30, 2019, 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, 2019

 

 

118,029

 

 

$

20.80

 

 

 

0.53

 

 

$

 

Outstanding and Exercisable at September 30, 2020

 

 

118,029

 

 

$

20.80

 

 

 

1.35

 

 

$

 

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

As discussed in Note 9 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

Share

 

 

Weighted

Average

Remaining

Contractual

Term

(in years)

 

 

Intrinsic

Value

 

Outstanding and Exercisable at September 30, 2019

 

 

590,147

 

 

$

4.16

 

 

 

0.53

 

 

$

2,602

 

Outstanding and Exercisable at September 30, 2020

 

 

590,147

 

 

$

4.16

 

 

 

1.35

 

 

$

2,820

 

Summary of Warrants Outstanding and Exercisable

The exercise price for the Series B convertible preferred stock warrants outstanding and exercisable at September 30, 2020 is as follows:

 

Series B Convertible Preferred

 

Outstanding and Exercisable

 

Number of Warrants

 

 

Exercise Price

 

 

54,396

 

 

$

16.60

 

 

17,857

 

 

 

16.80

 

 

12,383

 

 

 

24.30

 

 

33,393

 

 

 

28.50

 

 

118,029