FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Jun. 30, 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
	June 30, 2023		Technique	Input	Average
Liabilities:
Common Warrants	$	1,629,000	Monte Carlo simulation	Annualized volatility	160.00	%
Series A Warrants	$	3,153,000	Monte Carlo simulation	Annualized volatility	160.00	%
Series B Warrants	$	22,700	Monte Carlo simulation	Annualized volatility	130.00	%

Summary of change in fair value of warrants

	Common Warrants		Series A Warrants		Series B Warrants		Totals
Fair value at April 1, 2023	$	1,429,000	$	2,768,000	$	329,300	$	4,526,300
Change in fair value		200,000		385,000		(306,600)		278,400
Fair Value at June 30, 2023	$	1,629,000		3,153,000		22,700	$	4,804,700

	Common Warrants		Series A Warrants		Series B Warrants		Totals
Fair value at October 1, 2022	$	1,477,000	$	2,883,000	$	779,400	$	5,139,400
Change in fair value		152,000		270,000		(756,700)		(334,700)
Fair Value at June 30, 2023	$	1,629,000		3,153,000		22,700	$	4,804,700