SUMMARY OF ACCOUNTING POLICIES (Tables)

12 Months Ended

Sep. 30, 2019

SUMMARY OF ACCOUNTING POLICIES

Schedule of cumulative effect adjustment and the impact on current period financial statements of adopting Topic 606

	Fiscal Year ended September 30, 2019
	Prior U.S. GAAP		Topic 606 impact		As reported
Statement of Operations
Revenues
Product	$	2,902,247	$	(766,192)	$	2,136,055
Service		3,402,138		(149,104)		3,253,034
Total revenues		6,304,385		(915,296)		5,389,089
Cost of revenues		884,281		(6,668)		877,613
Loss from operations		(8,215,643)		(908,628)		(9,124,271)
Assets
Prepaids and other current assets	$	611,408	$	(6,668)	$	604,740
Liabilities and (deficit) equity
Deferred Revenue	$	802,107	$	(173,114)	$	628,993
Accumulated Deficit		(256,805,589)		—		(256,805,589)

Schedule of operations and timing of revenue recognition

	Fiscal Years Ended:
	September 30,
	2019		2018
Research and development services (over-time)	$	2,975,961	$	1,766,202
Product and authentication services (point-in-time):
Supply chain		1,438,106		674,224
Asset marking		587,012		1,002,934
Large scale DNA production		388,010		459,983
Total	$	5,389,089	$	3,903,343

Schedule of opening and closing contract balances

		October 1,		September 30,		$
	Balance sheet classification	2018		2019		change
Contract liabilities	Deferred revenue	$	1,356,502	$	628,993	$	(727,509)

Schedule of property, plant and equipment

		September 30,
	2019		2018
Computer equipment	$	265,542	$	135,621
Lab equipment		1,885,487		1,951,955
Furniture		74,781		74,781
Leasehold improvements		293,672		293,672
Total		2,519,482		2,456,029
Accumulated depreciation		2,293,261		2,036,255
Property and equipment, net	$	226,221	$	419,774

Schedule of anti-dilutive securities not included computation of net loss per share

	2019	2018
Warrants	263,592	305,217
Options	199,395	154,581
Secured convertible note	74,282	16,500
	573,269	476,298