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INCOME TAXES (Tables)
12 Months Ended
Sep. 30, 2020
INCOME TAXES  
Schedule of income tax provision (benefit)

    

2021

    

2020

Federal:

Current

$

 

$

Deferred

 

(1,423,000)

 

(2,914,000)

 

(1,423,000)

 

(2,914,000)

State and local:

 

 

Current

 

 

Deferred

 

(26,000)

 

(591,000)

 

(26,000)

 

(591,000)

Foreign:

Current

Deferred

18,000

 

 

Change in valuation allowance

 

1,431,000

 

3,505,000

 

 

Income tax provision (benefit)

$

 

$

Schedule of effective income tax rate reconciliation

    

2021

    

2020

 

Statutory federal income tax rate

 

21.00

%  

21.00

%

Statutory state and local income tax rate (1%, as of September 30, 2020 and 2019), net of federal benefit

 

1.52

%  

2.26

%

Stock based compensation

 

(11.54)

%

(1.60)

%

Other permanent differences

 

(0.56)

%  

3.83

%

Change in deferred tax rate

(0.41)

%

1.66

%

Change in valuation allowance

 

(10.01)

%  

(27.15)

%

Effective tax rate

 

0.00

%  

0.00

%

Schedule of components of deferred tax assets

September 30, 

    

2021

    

2020

Deferred tax assets (liabilities):

 

  

 

  

Stock based compensation

$

650,000

$

2,120,000

Depreciation and amortization

 

247,000

 

232,000

Net operating loss carry forward

 

20,115,000

 

17,499,000

Impairment of intangibles

187,000

Tax credits

 

1,566,000

 

1,227,000

Other

 

99,000

 

355,000

Less: valuation allowance

 

(22,864,000)

 

(21,433,000)

Net deferred tax asset

$

$