NOTE G —WARRANTS AND STOCK OPTIONS

Warrants

The following table summarizes the changes in warrants outstanding. These warrants were granted in lieu of cash compensation for services performed or as financing expenses in connection with the sales of the Company’s Common Stock.

Transactions involving warrants (see Note F) are summarized as follows:


		Weighted
		Average
		Exercise
	Number of	Price Per
	Shares	Share
Balance at October 1, 2019	263,592	$	131.12
Granted	2,636,125		5.25
Exercised	(1,475,204)		5.25
Cancelled or expired	(211,012)		135.01
Balance at June 30, 2020	1,213,501	$	10.03

Options

During the three month period ended June 30, 2020 the Company granted a total of 20,895 options to officers of the Company. These options have a ten year term and vested immediately on the date of grant. During the three month period ended June 30, 2020, the Company also granted a total of 80,628 options to certain members of its board of directors as their annual compensation. These options have a ten year term and vest on the one year anniversary of their grant date.

During the nine months ended June 30, 2020, the Company granted a total of 41,620 options to Mr. Scott L. Anchin, a member of the Company’s board of directors for his consulting services (see Note I). Also during the nine months ended June 30, 2020, the Company granted a total of 20,895 options to officers of the Company, and the Company also granted a total of 80,628 options to certain members of its board of directors as their annual compensation, in each case as detailed above.