BASIS OF PRESENTATION AND SUMMARY OF ACCOUNTING POLICIES (Tables)

12 Months Ended

Sep. 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:

	Fiscal Years Ended:
	September 30,
	2021		2020
Research and development services (over-time)	$	799,718	$	1,128,511
Clinical laboratory testing services (point-in-time)		4,794,154		77,550
Product and authentication services (point-in-time):
Supply chain		1,003,248		38,577
Asset marking		458,409		404,888
Large scale DNA production		—		281,971
Diagnostic test kits		1,972,209		—
Total	$	9,027,738	$	1,931,497

Schedule of opening and closing contract balances

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

		October 1,		September 30,		$
	Balance sheet classification	2020		2021		change
Contract liabilities	Deferred revenue	$	511,036	$	281,000	$	(230,036)

		October 1,		September 30,		$
	Balance sheet classification	2019		2020		change
Contract liabilities	Deferred revenue	$	628,993	$	511,036	$	(117,957)

Schedule of property, plant and equipment

NOTE C – BASIS OF PRESENTATION AND SUMMARY OF ACCOUNTING POLICIES, continued

	September 30,
	2021		2020
Computer equipment	$	—	$	90,509
Lab equipment		3,565,057		3,036,397
Furniture		—		74,781
Vehicles		108,361		—
Leasehold improvements		124,825		524,485
Total		3,798,243		3,726,172
Accumulated depreciation		774,328		2,448,517
Property and equipment, net	$	3,023,915	$	1,277,655

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

	2021	2020
Warrants	745,268	1,038,919
Options	487,377	291,035
Secured convertible note	—	70,962
	1,232,645	1,400,916