FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Sep. 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
	September 30, 2023		Technique	Input	Weighted Average
Liabilities:
Common Warrants	$	1,468,000	Monte Carlo simulation	Annualized volatility	160	%
Series A Warrants	$	2,817,000	Monte Carlo simulation	Annualized volatility	160	%

Summary of change in fair value of warrants

The change in fair value of the Common Warrants for the twelve-month period ended September 30, 2023 is summarized as follows:

	Common Warrants
Fair value at October 1, 2022	$	1,477,000
Change in fair value		(9,000)
Fair Value at September 30, 2023	$	1,468,000

The change in fair value of the Series A and Series B Warrants for the twelve-month period ended September 30, 2023 is summarized as follows:

	Series A Warrants		Series B Warrants
Fair value at October 1, 2022	$	2,883,000	$	779,400
Change in fair value		(66,000)		(779,400)
Fair Value at September 30, 2023	$	2,817,000		—