15. NET LOSS PER COMMON SHARE

12 Months Ended

Sep. 30, 2018

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,
	2018			2017
Loss per share - basic
Net loss available to common shareholders - basic	$	(31,851,573	)	$	(14,427,055	)
Weighted average shares outstanding - basic		17,004,722			7,891,843
Basic loss per common share	$	(1.87	)	$	(1.83	)
Loss per share - diluted
Net loss available to common shareholders - basic	$	(31,851,573	)	$	(14,427,055	)
Gain on derivatives (1)		-			(677,287	)
Net loss available to common shareholders - diluted	$	(31,851,573	)	$	(15,104,342	)
Weighted average shares outstanding - basic		17,004,722			7,891,843
Incremental shares underlying dilutive "in the money" warrants (1)		-			10,804
Weighted average shares outstanding - diluted		17,004,722			7,902,647
Diluted loss per common share	$	(1.87	)	$	(1.91	)
(1) Includes series GG & II for the year ended September 30, 2017

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:

	2018		2017
Options and Warrants		11,794,603		2,538,130
Convertible Debt		-		1,166,106
Unvested Restricted Stock		312,000		604,000
Total		12,106,603		4,308,236