NET LOSS PER COMMON SHARE

12 Months Ended

Sep. 30, 2021

NET LOSS PER COMMON SHARE

14. NET LOSS PER COMMON SHARE

14.	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 and restricted stock 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,
	2021			2020
Loss per share – basic
Net loss available to common shareholders - basic	$	(36,711,970	)	$	(30,276,978	)
Weighted average shares outstanding - basic		40,662,137			36,759,115
Basic loss per common share	$	(0.90	)	$	(0.82	)
Loss per share – diluted
Net loss available to common shareholders - basic	$	(36,711,970	)	$	(30,276,978	)
Unrealized gain on derivatives (1)		(1,085,540	)		-
Net loss available to common shareholders - diluted	$	(37,797,510	)	$	(30,276,978	)
Weighted average shares outstanding - basic		40,662,137			36,759,115
Incremental shares underlying dilutive warrants (1)		32,111			-
Weighted average shares outstanding - diluted		40,694,248			36,759,115
Diluted loss per common share	$	(0.93	)	$	(0.82	)

(1)	Includes Series Z, AA, CC and HH warrants for the year ended September 30, 2021.
	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:

	2021		2020
Options and Warrants		10,604,850		7,221,696
Unvested Restricted Stock		151,250		308,814
Total		10,756,100		7,530,510