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STOCK-BASED COMPENSATION (Tables)
9 Months Ended
Jun. 30, 2019
STOCK-BASED COMPENSATION  
Schedule of stock option activity

A summary of our stock option activity for the nine months ended June 30, 2019 is as follows (in thousands except for share prices):

 

 

 

 

 

 

 

 

 

 

 

    

 

    

Weighted-

    

Weighted-

 

 

 

 

Average 

 

Average 

 

 

Options 

 

Exercise 

 

Grant Date 

 

 

(shares)

 

Price

 

Fair Value

 

 

 

 

 

 

 

 

 

Outstanding - September 30, 2018

 

301

 

$

1.73

 

$

1.38

Exercised

 

(7)

 

$

1.13

 

$

0.94

Granted

 

483

 

$

1.50

 

$

1.10

Forfeited

 

(4)

 

$

1.75

 

$

1.39

Outstanding - June 30, 2019

 

773

 

$

1.59

 

$

1.21

 

Schedule of weighted-average assumptions used to compute the fair value of the options granted

 

 

 

 

 

 

 

 

 

 

    

 

    

Weighted-

    

Weighted-

 

 

 

 

Average 

 

Average 

 

 

Options 

 

Exercise 

 

Grant Date 

 

 

(shares)

 

Price

 

Fair Value

 

 

 

 

 

 

 

 

 

Outstanding - September 30, 2018

 

301

 

$

1.73

 

$

1.38

Exercised

 

(7)

 

$

1.13

 

$

0.94

Granted

 

483

 

$

1.50

 

$

1.10

Forfeited

 

(4)

 

$

1.75

 

$

1.39

Outstanding - June 30, 2019

 

773

 

$

1.59

 

$

1.21

 

The weighted-average assumptions used to compute the fair value of the options granted in the nine months ended June 30, 2019 were as follows:

 

 

 

 

 

Risk-free interest rate

    

2.51

%

Dividend yield

 

0.00

%

Volatility of the expected market price of the Company's common shares

 

71.1%-72.5

%

Expected life of the options (years)

 

8.0

 

 

Schedule of restricted share activity

During the nine months ended June 30, 2019, we granted a total of 45 shares, of which 10 shares are restricted, to our CEO under the terms of his employment agreement.  A summary of our restricted share activity for the nine months ended June 30, 2019 is as follows:

 

 

 

 

 

    

Restricted

 

 

Shares

 

 

 

Outstanding – September 30, 2018

 

 —

Granted

 

45

Unrestricted at Grant

 

(35)

Forfeited

 

 —

Outstanding - June 30, 2019

 

10