12. STOCK WARRANTS

6 Months Ended

Mar. 31, 2021

Stock Warrants

12. STOCK WARRANTS

12. STOCK WARRANTS

The following is a summary of stock warrant activity during the six months ended March 31, 2021.

	Number of Warrant Shares		Weighted Average Exercise Price
Balance, September 30, 2020		1,299,065	$	21.78
Warrants granted		—		—
Warrants expired		—		—
Warrants canceled		—		—
Warrants exercised		243,196		11.08
Balance, March 31, 2021		1,055,869	$	24.16

During the six months ended March 31, 2021, a total of 166,396 shares of the Company’s common stock were issued in connection with the exercise of 166,396 common stock warrants at exercise prices ranging from $3.36 and $20.00, for a total consideration of $2,774,812.

On March 31, 2021, a total of 74,437 shares of the Company’s common stock were issued in connection with the cashless exercise of 76,800 common stock warrants at exercise prices ranging from $0.83 to $3.67.

As of March 31, 2021, the outstanding warrants have a weighted average remaining term of was 0.77 years and an intrinsic value of $6,073,392.

As of March 31, 2021, there are warrants exercisable to purchase 1,048,012 shares of common stock in the Company and 7,857 unvested warrants outstanding that cannot be exercised until vesting conditions are met. 858,699 of the warrants require a cash investment to exercise as follows, 2,500 require a cash investment of $8.00 per share, 439,865 require a cash investment of $15.00 per share, 103,000 require a cash investment of $25.00 per share, 200,000 require an investment of $35.00 per share, 10,000 require an investment of $40.00 per share, 60,000 require an investment of $50.00 per share, 38,333 require a cash investment of $75.00 per share and 5,000 require a cash investment of $100.00 per share. 197,170 of the outstanding warrants contain provisions allowing a cashless exercise at their respective exercise prices.