BASIS OF PRESENTATION AND SUMMARY OF ACCOUNTING POLICIES (Tables)

9 Months Ended

Jun. 30, 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:
	June 30,		June 30,
	2021		2020
Research and development services (over-time)	$	197,812	$	343,624
Equipment lease services (over-time)		43,960		—
Clinical laboratory testing services (point-in-time)		826,613		—
Product and authentication services (point-in-time):
Supply chain		23,947		4,358
Asset marking		113,721		83,534
Large scale DNA production		—		—
Diagnostic kits		494,267		—
Total	$	1,700,320	$	431,516

NOTE B — BASIS OF PRESENTATION AND SUMMARY OF ACCOUNTING POLICIES continued

	Nine Month Period Ended:
	June 30,		June 30,
	2021		2020
Research and development services (over-time)	$	586,285	$	996,597
Equipment lease services (over-time)		150,048		—
Clinical laboratory testing services (point-in-time)		3,154,263		—
Product and authentication services (point-in-time):
Supply chain		123,947		35,678
Asset marking		386,160		303,261
Large scale DNA production		—		281,972
Diagnostic kits		1,587,300		—
Total	$	5,988,003	$	1,617,508

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	2020		2021		change
Contract liabilities	Deferred revenue	$	511,036	$	252,807	$	258,229

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

	2021	2020
Warrants	745,268	1,213,501
Stock options	452,485	321,357
Secured convertible notes	—	70,963
	1,197,753	1,605,821