BASIS OF PRESENTATION AND SUMMARY OF ACCOUNTING POLICIES (Tables)

6 Months Ended

Mar. 31, 2021

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:
	March 31,		March 31,
	2021		2020
Research and development services (over-time)	$	124,760	$	286,598
Equipment lease services (over-time)		60,088		—
Clinical laboratory testing services (point-in-time)		1,554,880		—
Product and authentication services (point-in-time):
Supply chain		67,057		12,646
Asset marking		140,169		110,697
Large scale DNA production		—		142,532
Diagnostic kits		724,588		—
Total	$	2,671,542	$	552,473

	Six Month Period Ended:
	March 31,		March 31,
	2021		2020
Research and development services (over-time)	$	388,473	$	653,431
Equipment lease services (over-time)		106,088		—
Clinical laboratory testing services (point-in-time)		2,327,650		—
Product and authentication services (point-in-time):
Supply chain		99,999		31,320
Asset marking		291,927		219,269
Large scale DNA production		—		281,972
Diagnostic kits		1,073,546		—
Total	$	4,287,683	$	1,185,992

Schedule of opening and closing contract balances

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

		October 1,		March 31,		$
	Balance sheet classification	2020		2021		change
Contract liabilities	Deferred revenue	$	511,036	$	350,057	$	160,979

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

	2021	2020
Warrants	776,518	2,121,755
Stock options	408,085	241,557
Secured convertible notes	—	70,963
	1,184,603	2,434,275