FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Jun. 30, 2022

FAIR VALUE OF FINANCIAL INSTRUMENTS

Summarizes of the significant unobservable inputs in fair value measurement of Level 3 financial assets and liabilities

	Fair value at		Valuation		Unobservable		Weighted
	June 30, 2022		Technique		Input	Range	Average
Liabilities:
Common Warrants	$	809,700		Monte Carlo simulation	Annualized volatility	72.08% - 141.39%	125	%

Schedule of fair value of financial instruments

	Common Warrants
Fair value at April 1, 2022	$	2,567,900
Change in fair value		(1,758,200)
Fair Value at June 30, 2022	$	809,700

The change in fair value of the Common Warrants for the nine-month period ended June 30, 2022 is summarized as follows:

	Common Warrants
Fair value at issuance February 24, 2022	$	3,350,400
Change in fair value		(2,540,700)
Fair Value at June 30, 2022	$	809,700