FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Mar. 31, 2023

FAIR VALUE OF FINANCIAL INSTRUMENTS

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

	Fair value at		Valuation	Unobservable	Weighted
	March 31, 2023		Technique	Input	Average
Liabilities:
Common Warrants	$	1,429,000	Monte Carlo simulation	Annualized volatility	160.00	%
Series A Warrants	$	2,768,000	Monte Carlo simulation	Annualized volatility	160.00	%
Series B Warrants	$	329,300	Monte Carlo simulation	Annualized volatility	175.00	%

Schedule of change in fair value of warrants

	Common Warrants			Series A Warrants		Series B Warrants
Fair value at January 1, 2023	$	2,187,000	$	4,269,000	$	1,321,200
Change in fair value		(758,000)		(1,501,000)		(991,900)
Fair Value at March 31, 2023	$	1,429,000	$	2,768,000		329,300

	Common Warrants		Series A Warrants			Series B Warrants
Fair value at October 1, 2022	$	1,477,000	$	2,883,000	$	779,400
Change in fair value		(48,000)		(115,000)		(450,100)
Fair Value at March 31, 2023	$	1,429,000	$	2,768,000		329,300