DERIVATIVE LIABILITIES (Tables)

12 Months Ended

Sep. 30, 2021

DERIVATIVE LIABILITIES

Fair Value Measurement Inputs and Valuation Techniques

The Company uses the Black-Scholes option pricing model to estimate fair value. The following weighted average assumptions were used to estimate the fair value of the derivative warrant liabilities on September 30, 2021 and 2020:

	September 30,		September 30,
	2021		2020
Risk-free interest rate	0.49	%	0.22	%
Expected life	1.28	years	2.28	years
Expected annualized volatility	86.0	%	97.3	%
Dividend	—		—
Liquidity discount	20	%	20	%

Schedule of Changes to Derivative Liabilities

The following table is a continuity schedule of changes to the Company’s derivative liabilities:

	Total
Balance, September 30, 2018	$	17,679
Change in fair value		(1,159)
Balance, September 30, 2019	$	16,520
Change in fair value		110,856
Balance, September 30, 2020	$	127,376
Change in fair value		(107,024)
Balance, September 30, 2021	$	20,352
Derivatives with expected life of less than one year	$	—
Derivatives with expected life greater than one year	$	20,352