I. LOSS PER COMMON SHARE

9 Months Ended

Jun. 30, 2018

Accounting Policies [Abstract]

I. LOSS PER COMMON SHARE

The following table provides the details of the basic and diluted loss per-share computations:

	Nine months ended June 30,						Three months ended June 30,
	2018			2017			2018			2017
Loss per share - basic
Net loss available to common shareholders - basic	$	(16,910,533	)	$	(9,369,401	)	$	(6,014,568	)	$	(4,464,063	)
Weighted average shares outstanding - basic		14,486,351			7,235,140			16,651,297			8,405,790
Basic loss per common share	$	(1.17	)	$	(1.29	)	$	(0.36	)	$	(0.53	)
Loss per share - diluted
Net loss available to common shareholders - basic	$	(16,910,533	)	$	(9,369,401	)	$	(6,014,568	)	$	(4,464,063	)
Gain on derivatives (1)		-			(413,651	)		-			-
Net loss available to common shareholders - diluted	$	(16,910,533	)	$	(9,783,052	)	$	(6,014,568	)	$	(4,464,063	)
Weighted average shares outstanding - basic		14,486,351			7,235,140			16,651,297			8,405,790
Incremental shares underlying dilutive "in the money" warrants		-			57,575			-			-
Weighted average shares outstanding - diluted		14,486,351			7,292,715			16,651,297			8,405,790
Diluted loss per common share	$	(1.17	)	$	(1.34	)	$	(0.36	)	$	(0.53	)

(1) Includes the net derivative gains from series GG, HH, II, JJ and KK warrants for the nine months ended June 30, 2017

The gain on derivatives priced lower than the average market 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 earnings (loss) per share excludes the following securities because their inclusion would have been anti-dilutive as of June 30:

	2018		2017
Options and Warrants		12,567,982		7,951,929
Unvested Restricted Stock		312,000		604,000
Convertible debt		-		893,491
Total		12,879,982		9,449,420