13. STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Sep. 30, 2022

Equity [Abstract]

Schedule of Share-Based Payment Arrangement, Option, Activity

The following is a summary of stock option activity during the year ended September 30, 2022 and 2021:

	Number of Option Shares			Weighted Average Exercise Price ($)
Balance, September 30, 2020		277,948			6.34
Options granted		1,469,250			19.32
Options expired		(12,975	)		10.53
Options canceled/forfeited		(45,876	)		16.31
Options exercised		(141,318	)		6.14
Balance, September 30, 2021		1,547,029			18.35
Options granted		215,750			14.47
Options canceled/forfeited		(238,418	)		15.40
Options exercised		(105,423	)		7.43
Balance, September 30, 2022		1,418,938		19.11

Schedule of Share-Based Payment Arrangement, Restricted Stock Unit, Activity

The following table summarizes the performance-based restricted stock units at the maximum award amounts based upon the respective performance share agreements. Actual shares that will vest depend on the attainment of the performance-based criteria.

	Number of Shares			Weighted Average Fair Value Per Share		Aggregate Intrinsic Value
Outstanding at September 30, 2020		—		$	-	$	-
Granted		579,302			10.53
Vested		(558,475	)		10.03
Forfeited		(9,832	)		17.98
Outstanding at September 30, 2021		10,995		$	27.73	$	-
Granted		7,306,250			7.18
Vested		(1,757,938	)		13.37
Forfeited		(110,759	)		15.27
Outstanding at September 30, 2022		5,448,548		$	4.93	$	17,326,383

Schedule of Fair Value Assumption Restricted Stock Unit

The Black-Scholes model utilized the following inputs to value the options granted during year ended September 30, 2022:

Fair value assumptions Options:	September 30, 2022
Risk free interest rate	1.04% - 3.65%
Expected term (years)	4.99 - 7.35
Expected volatility	187.18% - 533.00%
Expected dividends		0	%

The Black-Scholes model utilized the following inputs to value the options granted during year ended September 30, 2021:

Fair value assumptions Options:	September 30, 2021
Risk free interest rate	0.10% - 0.41%
Expected term (years)	1.50 - 5.25
Expected volatility	140% - 239%
Expected dividends		0	%

The inputs of these market based RSUs are as follows:

Fair value assumptions RSUs:	September 30, 2022
Risk free interest rate	0.14% - 1.26%
Expected term (years)	1.00 - 5.00
Expected volatility	111.37% - 172.18%
Cost of equity	20.00% - 21.00%

On September 12, 2022, the Compensation Committee approved to immediately vest the 810,000 market based RSUs that were subject to the 1-year stated service period. Accordingly, the Company recorded an incremental stock-based compensation expense of $3.96 million in the fiscal year September 30, 2022.

Additionally, on September 12, 2022, the Compensation Committee approved the following modifications and grants, each of which are pending ratification by shareholders:

(1) to grant 2,565,000 service condition based RSUs which will vest over a 3-year period beginning on the grant date,

(2) to grant 2,565,000 performance based RSUs which are expected to vest within a 12-month period,

(3) to modify the market condition based 60,000 units that were perpetual in nature, and 10,000 unvested service condition RSUs, and were replaced with;

(3a) 120,000 service condition based RSUs that vest over a 3-year period,

(3b) 120,000 performance based RSUs, which are expected to vest within 12 months from date of modification.

(4) to grant 760,000 restricted stock units, which shall vest on the later of the grant date and the Shareholder Approval Date.