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Note 8 - Stockholders' Equity
9 Months Ended
Jun. 30, 2020
Notes to Financial Statements  
Stockholders' Equity Note Disclosure [Text Block]
NOTE
8.
 STOCKHOLDERS' EQUITY
 
Equity Line Agreement.
On
December 12, 2017,
the Company entered into an amended and restated equity line agreement with Mountain States Capital, LLC (MSC). Under the equity line agreement, MSC agreed to provide the Company with up to
$10,000,000
of funding through the purchase of shares of the Company's common stock.
 
The equity line agreement expired on
August 14, 2019.
 
During the
three
months ended
December 31, 2018,
we sold
311,816
shares of common stock pursuant to the equity line agreement and received
$650,000
in cash from the sale of these shares
 
Stock Options
.
There was
no
stock option activity for the
nine
months ended
June 30, 2020.
Stock option details are as follows: 
 
   
 
 
 
 
 
 
 
 
Weighted
   
 
 
 
   
 
 
 
 
Weighted
   
Average
   
 
 
 
   
 
 
 
 
Average
   
Contractual
   
Aggregate
 
   
Number of
   
Exercise
   
Term
   
Intrinsic
 
   
Shares
   
Price
   
(Years)
   
Value
 
Outstanding as of September 30, 2019
   
800,000
    $
1.69
     
4.0
    $
-
 
Outstanding as of June 30, 2020
   
1,050,000
    $
1.64
     
4.0
    $
-
 
Vested and expected to vest at June 30, 2020
   
1,050,000
    $
1.64
     
3.7
    $
-
 
Exercisable at June 30, 2020
   
850,000
    $
1.68
     
3.6
    $
-
 
 
Stock option-based compensation expense associated with stock options was
$165,099
and
$0
for the
nine
months ended
June 30, 2020
and
2019,
respectively. At
June 30, 2020,
the remaining unrecognized stock-based compensation associated with stock options is
$75,503.
These expenses are expected to be recognized over a remaining weighted average period of
1.75
years.
 
Warrants.
 There was
no
warrant activity for the
nine
months ended
June 30, 2020.
Warrant details are as follows:
 
   
 
 
 
 
 
 
 
 
Weighted
   
 
 
 
   
 
 
 
 
Weighted
   
Average
   
 
 
 
   
 
 
 
 
Average
   
Contractual
   
Aggregate
 
   
Number of
   
Exercise
   
Term
   
Intrinsic
 
   
Shares
   
Price
   
(Years)
   
Value
 
Outstanding as of September 30, 2019
   
11,238,650
    $
1.52
     
2.3
    $
-
 
Outstanding as of June 30, 2020
   
11,238,650
    $
1.52
     
1.5
    $
-
 
Exercisable at June 30, 2020
   
11,238,650
    $
1.52
     
1.5
    $
-