11. STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Jun. 30, 2023

Equity [Abstract]

Schedule of Option Summary

The following is a summary of stock option activity during the nine months ended June 30, 2023:

	Number of Option Shares			Weighted Average Exercise Price ($)
Balance, September 30, 2022		1,418,938			19.11
Options granted		73,500			3.19
Options expired		(44,600	)		6.05
Options canceled/forfeited		(140,503	)		12.55
Options exercised		—			—
Balance, June 30, 2023		1,307,335		$	19.37

Fair Value Option, Disclosures

The Black-Scholes model utilized the following inputs to value the options granted during the nine months ended June 30, 2023:

Fair value assumptions Options:	June 30, 2023
Risk free interest rate	2.65% - 4.23%
Expected term (years)	5.50 - 5.85
Expected volatility	176.8% - 194.9%
Expected dividends		0	%

The Company recognized stock-based compensation expense relating to stock options of $1,485 and $1,676 for the three months ended June 30, 2023 and 2022 and $4,630 and $6,591 for the nine months ended June 30, 2023 and 2022.

Schedule of Restricted Stock Summary

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, 2022		5,448,548		$	4.93	$	17,326
Granted		420,552			2.37
Vested		(1,628,664	)		4.46
Cancelled		(40,000	)		-
Forfeited		(4,048	)		29.34
Outstanding at June 30, 2023		4,196,388		$	4.75	$	18,003