Share-Based Payment Arrangement [Text Block] | 14. STOCK-BASED COMPENSATION 2013 Stock Incentive Plan On June 18, 2013, the Company established the 2013 Stock Incentive Plan (the “ 2013 Plan Board The exercise price of each option is equal to the closing price of a share of our common stock on the date of grant. Share-based awards During the year ended September 30, 2022, the Company granted 475,000 options to employees and directors and 850,000 options to consultants to purchase shares of common stock under the 2013 Plan . Share-based compensation expense for awards granted during the year ended September 30, 2022 was based on the grant date fair value estimated using the Black-Scholes Option Pricing Model. The following assumptions were used to calculate the fair value of share-based compensation for the year ended September 30, 2022; expected volatility, 79.44% - 119.44%, risk-free interest rate, 0.13% - 2.85%, expected dividend yield, 0%, expected term, 5.6 years. Common Stock Options Stock compensation activity under the 2013 Plan for the year ended September 30, 2022 follows: Weighted Weighted Average Option Average Remaining Aggregate Shares Exercise Contractual Intrinsic Outstanding Price Term (years) Value Outstanding at September 30, 2021 24,899,014 $ 0.29 1.83 $ 140,151 Awarded 1,325,000 $ 0.03 Forfeited/Cancelled (6,498,818 ) $ 0.35 Outstanding at September 30, 2022 19,725,196 $ 0.26 1.46 $ 16,900 Vested at September 30, 2022 16,504,312 $ 0.29 1.52 $ — Vested and expected to vest at September 30, 2022 19,725,196 $ 0.26 1.46 $ 16,900 As of September 30, 2022, 8,273,158 shares are available for future grants under the 2013 Plan. Share-based compensation expense recorded in the Company’s Consolidated Statements of Operations for the year ended September 30, 2022 and 2021 resulting from stock options awarded to the Company’s employees, directors and consultants was approximately $459,000 and $391,000, respectively. Of this amount during the years ended September 30, 2022 and 2021, $148,000 and $124,000, respectively, were recorded as research and development expenses, and $311,000 and $267,000, respectively were recorded as general and administrative expenses in the Company’s Consolidated Statements of Operations. During the years ended September 30, 2022 and 2021, no stock options awarded under the 2013 Stock Incentive Plan were exercised for cash. During the years ended September 30, 2022 and 2021, no stock options awarded under the 2013 Stock Incentive Plan were exercised on a cashless basis. As of September 30, 2022, there is approximately $181,000 of unrecognized compensation expense related to unvested stock-based compensation arrangements granted under the 2013 Plan. That cost is expected to be recognized over a weighted average period of 2.47 years. Restricted Stock On October 14, 2020, the Company awarded 50,000 shares of Restricted Stock to a consultant. The shares subject to this grant were awarded under the 2013 Plan and vested 90 days from the date of the award. On January 27, 2021, the Company awarded 500,000 shares of Restricted Stock to a consultant. The shares subject to this grant were awarded under the 2013 Plan and vested immediately. On July 30, 2021, the Company awarded 150,000 shares of Restricted Stock to an employee. The shares subject to this grant were awarded under the 2013 Plan and 50,000 shares vest on each of the following dates: January 12, 2022, July 12, 2022 and January 12, 2023. On September 27, 2021, the Company awarded 300,000 shares of Restricted Stock to a consultant. The shares subject to this grant were awarded under the 2013 Plan and 1/12 Restricted stock activity in shares under the 2013 Plan for the years ended September 30, 2022 and 2021 follows: 2022 2021 Non Vested at September 30, 2021 and 2020 450,000 Awarded — 1,000,000 Vested (400,000 ) (550,000 Forfeited — — Non Vested at September 30, 2022 and 2021 50,000 450,000 The weighted average restricted stock award date fair value information for the years ended September 30, 2022 and 2019 follows: 2022 2021 Non Vested at September 30, 2021 and 2020 $ 0.10 $ — Awarded 0.13 Vested (0.10 ) (0.16 ) Forfeited — Non Vested at September 30, 2022 and 2021 $ 0.09 $ 0.10 For the years ended September 30, 2022 and 2021 compensation expense recorded for the restricted stock awards was approximately $40,000 and $105,000, respectively. As of September 30, 2022, there is approximately $3,000 of unrecognized compensation expense related to unvested stock-based compensation arrangements granted under the 2013 Plan. |