BASIS OF PRESENTATION AND SUMMARY OF ACCOUNTING POLICIES (Tables)

9 Months Ended

Jun. 30, 2020

BASIS OF PRESENTATION AND SUMMARY OF ACCOUNTING POLICIES

Schedule of operations and timing of revenue recognition

The following table presents revenues disaggregated by our business operations and timing of revenue recognition:

	Three Month Period Ended:
	June 30,		June 30,
	2020		2019
Research and development services (over-time)	$	343,624	$	1,608,448
Product and authentication services (point-in-time):
Supply chain		4,358		161,926
Asset marking		83,534		140,562
Large scale DNA production		—		142,521
Total	$	431,516	$	2,053,457

	Nine Month Period Ended:
	June 30,		June 30,
	2020		2019
Research and development services (over-time)	$	996,597	$	2,657,560
Product and authentication services (point-in-time):
Supply chain		35,678		406,543
Asset marking		303,261		469,035
Large scale DNA production		281,972		183,109
Total	$	1,617,508	$	3,716,247

Schedule of opening and closing contract balances

The opening and closing balances of the Company’s contract balances are as follows:

		October 1,		June 30,		$
	Balance sheet classification	2019		2020		change
Contract liabilities	Deferred revenue	$	628,993	$	431,214	$	197,779

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

	2020	2019
Warrants	1,213,501	423,089
Stock options	321,357	198,237
Secured convertible notes	70,963	104,865
	1,605,821	726,191