12. STOCK WARRANTS

9 Months Ended

Jun. 30, 2021

Stock Warrants

12. STOCK WARRANTS

12. STOCK WARRANTS

The following is a summary of stock warrant activity during the nine months ended June 30, 2021.

	Number of Warrant Shares			Weighted Average Exercise Price
Balance, September 30, 2020		1,299,215		$	21.82
Warrants granted		—			—
Warrants expired		(432,721	)		15.00
Warrants canceled / forfeited		—			—
Warrants exercised		(250,790	)		11.77
Balance, June 30, 2021		615,704		$	30.71

During the nine months ended June 30, 2021, a total of 173,990 shares of the Company’s common stock were issued in connection with the exercise of common stock warrants at exercise prices ranging from $3.36 and $20.00, for total consideration of $2,883,622.

On June 30, 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 June 30, 2021, the outstanding warrants have a weighted average remaining term was 0.93 years and an intrinsic value of $924,250.

As of June 30, 2021, there are warrants exercisable to purchase 605,704 shares of common stock in the Company and 10,000 unvested warrants outstanding that cannot be exercised until vesting conditions are met. 418,834 of the warrants require a cash investment to exercise as follows, 2,500 require a cash investment of $8.00 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, 38,334 require a cash investment of $75.00 per share and 5,000 require a cash investment of $100.00 per share. 196,870 of the outstanding warrants contain provisions allowing a cashless exercise at their respective exercise prices.