DERIVATIVE LIABILITIES (Tables)

3 Months Ended

Dec. 31, 2022

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 December 31, 2022 and 2021:

	December 31,		December 31,
	2022		2021
Risk-free interest rate	4.13	%	1.04	%
Expected life	0.03	years	1.03	years
Expected annualized volatility	63.8	%	95.4	%
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, 2021	$	20,352
Change in fair value		99,318
Balance, December 31, 2021	$	119,670
Balance, September 30, 2022	$	—
Change in fair value		—
Balance, December 31, 2022	$	—
Derivatives with expected life of less than one year	$	—
Derivatives with expected life greater than one year	$	—