15. NET LOSS PER COMMON SHARE

12 Months Ended

Sep. 30, 2017

Accounting Policies [Abstract]

15. NET LOSS PER COMMON SHARE

Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding during the period. The Company’s potentially dilutive shares, which include outstanding common stock options, common stock warrants, restricted stock and shares issuable on convertible debt, have not been included in the computation of diluted net loss per share for all periods presented, as the result would be anti-dilutive. For the years presented, the gain on derivative instruments is not included in net loss available to common shareholders for purposes of computing dilutive loss per share because its effect is anti-dilutive.

The following table provides a reconciliation of the numerators and denominators of the basic and diluted per-share computations:

	Year Ended September 30, 2017
	Net Loss			Weighted Average Shares		LPS
Basic loss per share	$	(14,427,055	)		7,891,843	$	(1.83	)
Less: gain on derivatives(1)		(677,287	)		10,804
Dilutive loss per share	$	(15,104,342	)		7,902,647	$	(1.91	)

(1) Includes series GG and II warrants

	Year Ended September 30, 2016
	Net Loss			Weighted Average Shares		LPS
Basic and dilutive loss per share	$	(11,512,492	)		4,866,204	$	(2.37	)

The gain on derivative instruments that contain exercise prices lower than the average market share price during the period is excluded from the numerator and the related shares are excluded from the denominator in calculating diluted loss per share.

In accordance with the contingently issuable shares guidance of FASB ASC Topic 260, Earnings Per Share, the calculation of diluted net loss per share excludes the following dilutive securities because their inclusion would have been anti-dilutive as of September 30:

	2017		2016
Options and Warrants		2,538,130		3,675,281
Convertible Debt		1,166,106		-
Unvested Restricted Stock		604,000		604,000
Total		4,308,236		4,279,281