CEL-SCI (CVM) 10-Q 8 May 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Mar. 31, 2020	May 05, 2020
Document And Entity Information
Entity Registrant Name	CEL SCI CORP
Entity Central Index Key	0000725363
Document Type	10-Q
Document Period End Date	Mar. 31, 2020
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Shell Company	false
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	CO
Entity File Number	001-11889
Entity Common Stock, Shares Outstanding		37,633,894
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2020

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Mar. 31, 2020	Sep. 30, 2019
CURRENT ASSETS:
Cash and cash equivalents	$ 14,329,870	$ 8,444,774
Receivables	62,289	62,765
Prepaid expenses	565,246	524,953
Supplies used for R&D and manufacturing	849,548	782,363
Total current assets	15,806,953	9,814,855
Finance lease right of use assets	12,741,195	0
Operating lease right of use assets	899,508	0
Plant, property and equipment, net	3,286,273	15,825,636
Patent costs, net	312,380	311,586
Deposits	1,670,917	1,670,917
Total assets	34,717,226	27,622,994
CURRENT LIABILITIES:
Accounts payable	1,139,914	1,586,478
Accrued expenses	316,866	34,432
Due to employees	675,408	709,442
Derivative instruments, current portion	2,156,857	674,442
Lease liabilities, current portion	977,264	0
Other current liabilities	5,000	14,956
Total current liabilities	5,271,309	3,019,750
Derivative instruments - net of current portion	4,067,436	5,813,868
Finance lease obligations, net of current portion	12,232,493	13,508,156
Operating lease obligations, net of current portion	812,479	0
Other liabilities	125,000	147,553
Total liabilities	22,508,717	22,489,327
Commitments and contingencies	0	0
STOCKHOLDERS' EQUITY
Preferred stock, $.01 par value - 200,000 shares authorized; -0- shares issued and outstanding	0	0
Common stock, $.01 par value - 600,000,000 shares authorized; 37,336,411 and 35,231,776 shares issued and outstanding at March 31, 2020 and September 30, 2019, respectively	373,365	352,318
Additional paid-in capital	379,943,932	358,507,603
Accumulated deficit	(368,108,788)	(353,726,254)
Total stockholders' equity	12,208,509	5,133,667
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 34,717,226	$ 27,622,994

BALANCE SHEETS (Parenthetical)

BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2020	Sep. 30, 2019
Stockholders Equity
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	200,000	200,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	600,000,000	600,000,000
Common stock, shares issued	37,336,411	35,231,776
Common stock, shares outstanding	37,336,411	35,231,776

STATEMENTS OF OPERATIONS

STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Income Statement [Abstract]
Grant income	$ 298,726	$ 150,769	$ 334,232	$ 277,183
Operating Expenses:
Research and development	4,402,347	2,832,546	8,598,960	6,304,260
General & administrative	2,558,522	1,624,823	5,197,418	3,313,985
Total operating expenses	6,960,869	4,457,369	13,796,378	9,618,245
Operating loss	(6,662,143)	(4,306,600)	(13,462,146)	(9,341,062)
Other income	18,448	18,216	36,896	36,127
(Loss)/gain on derivative instruments	(3,049,027)	(967,171)	(2,282,518)	4,589,135
Other non-operating gain	934,511	(730,823)	1,725,180	421,353
Interest expense, net	(253,407)	(461,303)	(504,190)	(907,332)
Net loss	(9,011,618)	(6,447,681)	(14,486,778)	(5,201,779)
Modification of warrants	(21,734)	0	(21,734)	0
Net loss available to common shareholders	$ (9,033,352)	$ (6,447,681)	$ (14,508,512)	$ (5,201,779)
Net loss per common share
Basic	$ (0.25)	$ (0.22)	$ (0.41)	$ (0.18)
Diluted	$ (0.25)	$ (0.22)	$ (0.41)	$ (0.19)
Weighted average common shares outstanding
Basic	36,165,050	29,113,910	35,621,711	28,543,417
Diluted	36,165,050	29,113,910	35,621,711	28,548,818

STATEMENTS OF STOCKHOLDERS' EQU

STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Beginning balance, shares at Sep. 30, 2018	28,034,487
Beginning balance, amount at Sep. 30, 2018	$ 280,346	$ 331,312,184	$ (331,591,614)	$ 916
Warrant exercises, shares	298,682
Warrant exercises	$ 2,987	646,766		649,753
Equity based compensation - employees		573,660		573,660
401(k) contributions paid in common stock, shares	12,279
401(k) contributions paid in common stock	$ 123	35,118		35,241
Stock issued to nonemployees for service, shares	62,784
Stock issued to nonemployees for service	$ 628	201,752		202,380
Shares issued (returned) for settlement of clinical research costs, shares	(564,905)
Shares issued (returned) for settlement of clinical research costs	$ (5,649)	5,649		0
Net income (loss)			1,245,902	1,245,902
Ending balance, shares at Dec. 31, 2018	27,843,327
Ending balance, amount at Dec. 31, 2018	$ 278,435	332,775,129	(330,345,712)	2,707,852
Beginning balance, shares at Sep. 30, 2018	28,034,487
Beginning balance, amount at Sep. 30, 2018	$ 280,346	331,312,184	(331,591,614)	916
Net income (loss)				(5,201,779)
Ending balance, shares at Mar. 31, 2019	29,951,628
Ending balance, amount at Mar. 31, 2019	$ 299,517	337,449,398	(336,793,393)	955,522
Beginning balance, shares at Dec. 31, 2018	27,843,327
Beginning balance, amount at Dec. 31, 2018	$ 278,435	332,775,129	(330,345,712)	2,707,852
Warrant exercises, shares	1,523,933
Warrant exercises	$ 15,239	2,640,395		2,655,634
Equity based compensation - employees, shares	(3,500)
Equity based compensation - employees	$ (35)	530,865		530,830
401(k) contributions paid in common stock, shares	10,419
401(k) contributions paid in common stock	$ 104	36,779		36,883
Stock issued to nonemployees for service, shares	77,449
Stock issued to nonemployees for service	$ 774	224,855		225,629
Shares issued (returned) for settlement of clinical research costs, shares	500,000
Shares issued (returned) for settlement of clinical research costs	$ 5,000	1,285,000		1,290,000
Share issuance costs		(43,625)		(43,625)
Net income (loss)			(6,447,681)	(6,447,681)
Ending balance, shares at Mar. 31, 2019	29,951,628
Ending balance, amount at Mar. 31, 2019	$ 299,517	337,449,398	(336,793,393)	955,522
Beginning balance, shares at Sep. 30, 2019	35,231,776
Beginning balance, amount at Sep. 30, 2019	$ 352,318	358,507,603	(353,726,254)	5,133,667
Adoption of new accounting standard			104,244	104,244
Issuance of common stock, shares	606,395
Issuance of common stock, amount	$ 6,064	5,043,939		5,050,003
Warrant exercises, shares	132,900
Warrant exercises	$ 1,329	295,772		297,101
Equity based compensation - employees		1,800,225		1,800,225
401(k) contributions paid in common stock, shares	4,474
401(k) contributions paid in common stock	$ 45	40,892		40,937
Stock issued to nonemployees for service, shares	15,819
Stock issued to nonemployees for service	$ 158	84,289		84,447
Purchase of stock by officers and directors, shares	3,725
Purchase of stock by officers and directors	$ 37	24,963		25,000
Share issuance costs		(92,150)		(92,150)
Net income (loss)			(5,475,160)	(5,475,160)
Ending balance, shares at Dec. 31, 2019	35,995,089
Ending balance, amount at Dec. 31, 2019	$ 359,951	365,705,533	(359,097,170)	6,968,314
Beginning balance, shares at Sep. 30, 2019	35,231,776
Beginning balance, amount at Sep. 30, 2019	$ 352,318	358,507,603	(353,726,254)	5,133,667
Net income (loss)				(14,486,778)
Ending balance, shares at Mar. 31, 2020	37,336,411
Ending balance, amount at Mar. 31, 2020	$ 373,365	379,943,932	(368,108,788)	12,208,509
Beginning balance, shares at Dec. 31, 2019	35,995,089
Beginning balance, amount at Dec. 31, 2019	$ 359,951	365,705,533	(359,097,170)	6,968,314
Issuance of common stock, shares	721,459
Issuance of common stock, amount	$ 7,215	7,860,414		7,867,629
Warrant exercises, shares	562,100
Warrant exercises	$ 5,621	4,313,085		4,318,706
Equity based compensation - employees		1,780,979		1,780,979
401(k) contributions paid in common stock, shares	3,376
401(k) contributions paid in common stock	$ 34	38,925		38,959
Stock issued to nonemployees for service, shares	17,120
Stock issued to nonemployees for service	$ 171	234,853		235,024
Purchase of stock by officers and directors, shares	16,787
Purchase of stock by officers and directors	$ 168	159,822		159,990
Option exercises, shares	20,480
Option exercises	$ 205	49,693		49,898
Share issuance costs		(199,372)		(199,372)
Net income (loss)			(9,011,618)	(9,011,618)
Ending balance, shares at Mar. 31, 2020	37,336,411
Ending balance, amount at Mar. 31, 2020	$ 373,365	$ 379,943,932	$ (368,108,788)	$ 12,208,509

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (14,486,778)	$ (5,201,779)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	951,831	316,083
Share-based payments for services	347,227	511,424
Equity based compensation	3,581,204	1,104,490
Common stock contributed to 401(k) plan	79,896	72,124
Shares issued for settlement of clinical research costs	0	1,290,000
Loss (gain) on derivative instruments	2,282,518	(4,589,135)
Capitalized lease interest	0	64,432
(Increase)/decrease in assets:
Receivables	476	(4,579)
Prepaid expenses	96,951	(74,741)
Supplies used for R&D and manufacturing	(67,185)	(115,774)
Increase/(decrease) in liabilities:
Accounts payable	(765,872)	(1,489,234)
Accrued expenses	20,110	82,580
Due to employees	(34,034)	245,074
Other liabilities	3,438	(1,057)
Net cash used in operating activities	(7,990,218)	(7,790,092)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(752,797)	(160,920)
Expenditures for patent costs	(13,996)	(67,661)
Net cash used in investing activities	(766,793)	(228,581)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock	12,917,632	0
Payments of stock issuance costs	(190,553)	(80,224)
Proceeds from the purchase of stock by officers and directors	184,990	0
Proceeds from exercise of warrants	2,069,272	3,305,387
Proceeds from exercises of options	49,898	0
Payments on obligations under finance lease	(389,132)	(2,521)
Net cash provided by financing activities	14,642,107	3,222,642
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	5,885,096	(4,796,031)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	8,444,774	10,310,044
CASH AND CASH EQUIVALENTS, END OF PERIOD	14,329,870	5,514,013
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Property and equipment included in current liabilities	318,984	0
Capitalizable patent costs included in current liabilities	13,465	0
Right of use asset acquired and liability incurred	13,712	0
Finance lease obligation included in accounts payable	983	428
Prepaid consulting services paid with issuance of common stock	137,244	83,415
Accrued consulting services to be paid with common stock	165,000	0
Fair value of warrant liabilities on date of exercise	2,546,535	0
Stock issuance costs included in current liabilities	116,549	10,000
Cash paid for interest	$ 585,748	$ 902,091

A. BASIS OF PRESENTATION AND SU

A. BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
A. BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Basis of Presentation The accompanying condensed financial statements of CEL-SCI Corporation (the Company) are unaudited and certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) have been omitted pursuant to the rules and regulations of the Securities and Exchange Commission. While management of the Company believes that the disclosures presented are adequate to make the information presented not misleading, these interim condensed financial statements should be read in conjunction with the financial statements and notes included in the Company’s annual report on Form 10-K/A for the year ended September 30, 2019. In the opinion of management, the accompanying unaudited condensed financial statements contain all adjustments necessary for a fair presentation of the Company’s financial position as of March 31, 2020 and the results of its operations for the six months then ended. The condensed balance sheet as of September 30, 2019 is derived from the September 30, 2019 audited financial statements. On October 1, 2019, the Company adopted Accounting Standards Update (ASU) No. 2016-02 , “ Leases” The financial statements have been prepared assuming that the Company will continue as a going concern, but due to recurring losses from operations and future liquidity needs, there is substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Refer to discussion in Note B. Summary of Significant Accounting Policies: Research and Office Equipment and Leasehold Improvements Patents Research and Development Costs Income Taxes Derivative Instruments Accounting for Derivative Instruments and Hedging Activities Stock-Based Compensation Compensation – Stock Compensation The Company has Incentive Stock Option Plans, Non-Qualified Stock Option Plans, Stock Compensation Plans, Stock Bonus Plans and an Incentive Stock Bonus Plan. In some cases, these Plans are collectively referred to as the "Plans". All Plans have been approved by the stockholders. The Company’s stock options are not transferable, and the actual value of the stock options that an employee may realize, if any, will depend on the excess of the market price on the date of exercise over the exercise price. The Company has based its assumption for stock price volatility on the variance of daily closing prices of the Company’s stock. The risk-free interest rate assumption was based on the U.S. Treasury rate at date of the grant with term equal to the expected life of the option. Forfeitures are accounted for when they occur. The expected term of options represents the period that options granted are expected to be outstanding and has been determined based on an analysis of historical exercise behavior. If any of the assumptions used in the Black-Scholes model change significantly, stock-based compensation expense for new awards may differ materially in the future from that recorded in the current period. Vesting of restricted stock granted under the Incentive Stock Bonus Plan is subject to service, performance and market conditions and meets the classification of equity awards. These awards were measured at market value on the grant-dates for issuances where the attainment of performance criteria is likely and at fair value on the grant-dates, using a Monte Carlo simulation for issuances where the attainment of performance criteria is uncertain. The total compensation cost will be expensed over the estimated requisite service period. Newly Adopted Accounting Pronouncements Effective October 1, 2019, the Company adopted ASC 842. ASC 842 requires that lessees recognize right-of-use assets and lease liabilities that are measured at the present value of the future lease payments at the lease commencement date. Subsequent measurement, including the presentation of expenses and cash flows, depends on the classification of the lease as either a finance lease or an operating lease. The Company elected the optional transition method that allows for a cumulative-effect adjustment in the period of adoption and did not restate prior periods. The Company also elected the transition package of three practical expedients which eliminates the requirements to reassess prior conclusions about lease identification, lease classification and initial direct costs. Further, the Company elected a short-term lease exception policy permitting the option to not apply the recognition requirements of this standard to short-term leases (i.e., leases with terms of 12 months or less) and an accounting policy to account for lease and non-lease components as a single component. The Company’s lease portfolio includes both finance and operating leases. The impact of adopting ASC 842 was to increase long term assets by approximately $1.0 million, decrease total liabilities by approximately $0.9 million and record a cumulative effect adjustment of approximately $0.1 million to opening accumulated deficit. In June 2018, the Financial Accounting Standards Board ("FASB") issued ASU 2018-07, Compensation—Stock Compensation (Topic 718 New Accounting Pronouncements In August 2018, the FASB issued ASU 2018-13, “ Fair Value Measurement - Disclosure Framework (Topic )” The Company has considered all other recently issued accounting pronouncements and does not believe the adoption of such pronouncements will have a material impact on its financial statements.

B. OPERATIONS AND FINANCING

B. OPERATIONS AND FINANCING	6 Months Ended
	Mar. 31, 2020
B. Operations And Financing
B. OPERATIONS AND FINANCING	On January 30, 2020, the World Health Organization (“WHO”) announced a global health emergency because of a new strain of coronavirus originating in Wuhan, China (the “COVID-19 outbreak”) and the risks to the international community as the virus spreads globally beyond its point of origin. In March 2020, because of the rapid increase in exposure globally, the WHO classified the COVID-19 outbreak as a pandemic. The full impact of the COVID-19 outbreak continues to evolve as of the date of this report. As such, it is uncertain as to the full magnitude that the pandemic will have on the Company’s financial condition, liquidity, and future results of operations. Management is actively monitoring the impact of the global situation on its financial condition, liquidity, operations, suppliers, industry, and workforce. Given the daily evolution of the COVID-19 outbreak and the global responses to curb its spread, the Company is not able to estimate the effects of the COVID-19 outbreak on its results of operations, financial condition, or liquidity for fiscal year 2020. Although the Company cannot estimate the length or gravity of the impact of the COVID-19 outbreak, if the pandemic continues, it may have an adverse effect on the Company’s results of future operations, financial position, and liquidity in fiscal year 2020. On March 27, 2020, the United States enacted the Coronavirus Aid, Relief and Economic Security Act (CARES Act). The Cares Act is an emergency economic stimulus package that includes spending and tax breaks to strengthen the United States economy and fund a nationwide effort to curtail the effect of COVID-19. While the CARES Act provides sweeping tax changes in response to the COVID-19 pandemic, some of the more significant provisions which are expected to impact the Company’s financial statements include removal of certain limitations on utilization of net operating losses, increasing the loss carryback period for certain losses to five years, and increasing the ability to deduct interest expense, as well as amending certain provisions of the previously enacted Tax Cuts and Jobs Act. The Company does not expect the enactment of the CARES Act to have a material impact to its financial position, results of operations or cash flows. The Company has incurred significant costs since its inception for the acquisition of certain patented and unpatented proprietary technology and know-how relating to the human immunological defense system, patent applications, research and development, administrative costs, construction of laboratory facilities, and clinical trials. The Company has funded such costs with proceeds from loans and the public and private sale of its common stock. The Company will be required to raise additional capital or find additional long-term financing to continue with its research efforts. The ability to raise capital may be dependent upon market conditions that are outside the control of the Company. The ability of the Company to complete the necessary clinical trials and obtain FDA approval for the sale of products to be developed on a commercial basis is uncertain. Ultimately, the Company must complete the development of its products, obtain the appropriate regulatory approvals and obtain sufficient revenues to support its cost structure. The Company is taking cost-cutting initiatives, as well as exploring other sources of funding, to finance operations over the next 12 months. The Company believes there is a high likelihood that it will continue to receive funds from private and public offerings and warrant conversions similar to the way it has substantially funded operations for the past 12 months. However, there can be no assurance that the Company will be able to raise sufficient capital to support its operations. The Company is currently in the final stages of its large multi-national Phase 3 clinical trial for head and neck cancer with its partners TEVA Pharmaceuticals and Orient Europharma. To finance the study beyond the next twelve months, the Company plans to raise additional capital in the form of corporate partnerships, warrant exercises, debt issuances and/or equity financings. The Company believes that it will be able to obtain additional financing because it has done so consistently in the past and because Multikine is a product in the Phase 3 clinical trial stage. However, there can be no assurance that the Company will be successful in raising additional funds on a timely basis or that the funds will be available to the Company on acceptable terms or at all. If the Company does not raise the necessary amounts of money, it may have to curtail its operations until it can raise the required funding. The financial statements have been prepared assuming the Company will continue as a going concern, but due to the Company’s recurring losses from operations and future liquidity needs, there is substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Nine hundred twenty-eight (928) head and neck cancer patients have been enrolled and have completed treatment in the Phase 3 study. The study end point is a 10% increase in overall survival of patients between the two main comparator groups in favor of the group receiving the Multikine treatment regimen. The determination if the study end point is met will occur when there are a total of 298 deaths in those two groups. On May 4, 2020, we announced the threshold of 298 deaths (events) was reached.

C. STOCKHOLDERS EQUITY

C. STOCKHOLDERS EQUITY	6 Months Ended
	Mar. 31, 2020
Equity [Abstract]
C. STOCKHOLDERS' EQUITY	Proceeds from the Sale of Common Stock In March 2020, the Company sold 630,500 shares of common stock at a public offering price of $12.22 per share and received aggregate net proceeds of approximately $7.1 million. Under the terms of the Underwriting Agreement the Company granted the Underwriters a 45-day option to purchase up to an additional 94,575 shares of common stock solely to cover over-allotments. The underwriter fully exercised this option in May 2020 resulting in additional net proceeds to the Company of approximately $1.1 million. In December 2019, the Company sold 606,395 shares of common stock at a public offering price of $9.07 per share and received aggregate net proceeds of approximately $5.0 million. In January 2020, the underwriters of that offering fully exercised the option to purchase 90,959 additional shares of common stock at the public offering price of $9.07 per share for aggregate net proceeds to the Company of approximately $0.8 million. Equity Compensation Underlying share information for equity compensation plans as of March 31, 2020 is as follows: Name of Plan Total Shares Reserved Under Plans Shares Reserved for Outstanding Options Shares Issued Remaining Options/Shares Under Plans Incentive Stock Options Plans 138,400 89,895 N/A 213 Non-Qualified Stock Option Plans 6,387,200 6,108,173 N/A 131,146 Stock Bonus Plans 783,760 N/A 339,076 444,651 Stock Compensation Plans 634,000 N/A 150,695 464,895 Incentive Stock Bonus Plan 640,000 N/A 616,500 23,500 Underlying share information for equity compensation plans as of September 30, 2019 is as follows: Name of Plan Total Shares Reserved Under Plans Shares Reserved for Outstanding Options Shares Issued Remaining Options/Shares Under Plans Incentive Stock Option Plans 138,400 89,895 N/A 213 Non-Qualified Stock Option Plans 6,387,200 6,128,321 N/A 112,166 Stock Bonus Plans 783,760 N/A 331,226 452,501 Stock Compensation Plans 634,000 N/A 130,183 485,407 Incentive Stock Bonus Plan 640,000 N/A 616,500 23,500 Stock option activity Six Months Ended March 31, 2020 2019 Options granted 2,500 500 Options exercised 20,480 - Options forfeited 1,000 24,193 Options expired 1,168 2,400 Three Months Ended March 31, 2020 2019 Options granted 1,500 - Options exercised 20,480 - Options forfeited 1,000 24,193 Options expired 1,132 - Stock-Based Compensation Expense Six months Ended March 31, 2020 2019 Employees $ 3,581,204 $ 1,104,490 Non-employees $ 347,227 $ 511,424 Three months Ended March 31, 2020 2019 Employees $ 1,780,979 $ 530,830 Non-employees $ 191,487 $ 272,520 Employee compensation expense includes the expense related to options issued or vested and restricted stock granted. Non-employee expense includes the expense related to options and stock issued to consultants expensed over the period of their service contracts. Warrants and Non-Employee Options The following chart represents the warrants and non-employee options outstanding at March 31, 2020: Warrant/Options Issue Date Shares Issuable upon Exercise of Warrants/ Options Exercise Price Expiration Date Reference Series N 8/18/2008 85,339 $ 3.00 2/18/2021 2 Series V 5/28/2015 810,127 $ 19.75 5/28/2020 1 Series UU 6/11/2018 154,810 $ 2.80 6/11/2020 * Series W 10/28/2015 688,930 $ 16.75 10/28/2020 1 Series X 1/13/2016 120,000 $ 9.25 1/13/2021 * Series Y 2/15/2016 26,000 $ 12.00 2/15/2021 * Series ZZ 5/23/2016 20,000 $ 13.75 5/18/2021 1 Series BB 8/26/2016 16,000 $ 13.75 8/22/2021 1 Series Z 5/23/2016 264,000 $ 13.75 11/23/2021 1 Series CC 12/8/2016 153,643 $ 5.00 12/8/2021 1 Series HH 2/23/2017 200 $ 3.13 2/16/2022 1 Series AA 8/26/2016 200,000 $ 13.75 2/22/2022 1 Series MM 6/22/2017 893,491 $ 1.86 6/22/2022 * Series NN 7/24/2017 375,545 $ 2.52 7/24/2022 2 Series OO 7/31/2017 10,000 $ 2.52 7/31/2022 2 Series RR 10/30/2017 457,116 $ 1.65 10/30/2022 * Series SS 12/19/2017 365,538 $ 2.09 12/18/2022 2 Series TT 2/5/2018 381,564 $ 2.24 2/5/2023 2 Series VV 7/2/2018 55,000 $ 1.75 1/2/2024 2 Consultants 7/28/17 10,000 $ 2.18 7/27/2027 * * No current period changes to these warrants and non-employee options 1. Warrant Liabilities The table below presents the fair value of the warrant liabilities at the balance sheet dates: March 31, 2020 September 30, 2019 Series V warrants $ 595,981 $ 674,442 Series W warrants 1,560,876 1,193,507 Series Z warrants 1,421,421 1,109,545 Series ZZ warrants 82,223 77,638 Series AA warrants 1,243,531 916,908 Series BB warrants 70,994 63,966 Series CC warrants 1,247,399 1,710,898 Series FF warrants - 446,185 Series HH warrants 1,868 45,657 Series JJ warrants - 66,599 Series LL warrants - 182,965 Total warrant liabilities $ 6,224,293 $ 6,488,310 The table below presents the gains/(losses) on the warrant liabilities for the six months ended March 31: 2020 2019 Series S warrants $ - $ 33 Series V warrants 78,461 494,852 Series W warrants (367,369 ) 616,028 Series Z warrants (311,876 ) 114,831 Series ZZ warrants (4,585 ) 12,638 Series AA warrants (326,623 ) 93,268 Series BB warrants (7,028 ) 7,736 Series CC warrants (826,277 ) 339,698 Series DD warrants - 1,249,287 Series EE warrants - 1,249,287 Series FF warrants (319,706 ) 34,603 Series GG warrants - 106,750 Series HH warrants (34,457 ) 10,642 Series II warrants - 115,343 Series JJ warrants (64,992 ) 15,926 Series KK warrants - 113,467 Series LL warrants (98,066 ) 14,746 Net (loss)/gain on warrant liabilities $ (2,282,518 ) $ 4,589,135 The table below presents the losses on the warrant liabilities for the three months ended March 31: 2020 2019 Series V warrants $ (476,570 ) $ (61,480 ) Series W warrants (518,743 ) (10,822 ) Series Z warrants (322,425 ) (89,290 ) Series ZZ warrants (19,432 ) (1,685 ) Series AA warrants (391,601 ) (63,951 ) Series BB warrants (6,597 ) (4,374 ) Series CC warrants (803,596 ) (325,908 ) Series FF warrants (312,517 ) (34,459 ) Series GG warrants - (106,032 ) Series HH warrants (34,375 ) (10,309 ) Series II warrants - (115,246 ) Series JJ warrants (64,862 ) (15,536 ) Series KK warrants - (114,628 ) Series LL warrants (98,309 ) (13,451 ) Net loss on warrant liabilities $ (3,049,027 ) $ (967,171 ) The Company reviews all outstanding warrants in accordance with the requirements of ASC 815. This topic provides that an entity should use a two-step approach to evaluate whether an equity-linked financial instrument (or embedded feature) is indexed to its own stock, including evaluating the instrument’s contingent exercise and settlement provisions. The warrant agreements provide for adjustments to the exercise price for certain dilutive events. Under the provisions of ASC 815, the warrants are not considered indexed to the Company’s stock because future equity offerings or sales of the Company’s stock are not an input to the fair value of a “fixed-for-fixed” option on equity shares, and equity classification is therefore precluded. In accordance with ASC 815, derivative liabilities must be measured at fair value upon issuance and re-valued at the end of each reporting period through expiration. Any change in fair value between the respective reporting dates is recognized as a gain or loss. Changes in Warrant Liabilities On December 10, 2018, 1,360,960 Series DD and 1,360,960 Series EE warrants, with an exercise price of $4.50 expired. On October 11, 2018, 327,729 Series S warrants, with an exercise price of $31.25 expired. Exercise of Warrant Liabilities The following warrants recorded as liabilities were exercised during the periods ended March 31, 2020. Three Months Six Months Warrants Warrants Exercised Exercise Price Proceeds Warrants Exercised Exercise Price Proceeds Series CC 123,820 $ 5.00 $ 619,100 123,820 $ 5.00 $ 619,100 Series FF 68,048 $ 3.91 265,812 68,048 $ 3.91 265,812 Series HH 6,300 $ 3.13 19,687 6,300 $ 3.13 19,687 Series JJ 9,450 $ 3.13 29,531 9,450 $ 3.13 29,531 Series LL 26,398 $ 3.59 94,867 26,398 $ 3.59 94,867 234,016 $ 1,028,997 234,016 $ 1,028,997 No warrants recorded as liabilities were exercised during the six and three months ended March 31, 2019. 2. Equity Warrants Changes in Equity Warrants On January 23, 2020, the expiration date of the Series N warrants was extended to February 18, 2021. The incremental cost of this extension was approximately $22,000, which was recorded as a deemed dividend in the financial statements for the six and three months ended March 31, 2020. The Series N warrants are held by the de Clara Trust, of which the Company’s CEO, Geert Kersten, is a beneficiary. Exercise of Equity Warrants The following warrants recorded as equity were exercised during the periods ended March 31, 2020. Three Months Six Months Warrants Warrants Exercised Exercise Price Proceeds Warrants Exercised Exercise Price Proceeds Series NN 98,253 $ 2.52 $ 247,598 98,253 $ 2.52 $ 247,598 Series OO 30,000 $ 2.52 75,600 40,000 $ 2.52 100,800 Series SS 94,474 $ 2.09 197,451 117,106 $ 2.09 244,752 Series TT 77,857 $ 2.24 174,400 178,125 $ 2.24 399,000 Series VV 27,500 $ 1.75 48,125 27,500 $ 1.75 48,125 328,084 $ 743,174 460,984 $ 1,040,275 The following warrants recorded as equity were exercised during the periods ended March 31, 2019. Three Months Six Months Warrants Warrants Exercised Exercise Price Proceeds Warrants Exercised Exercise Price Proceeds Series PP - - - 60,000 $ 2.30 $ 138,000 Series SS 13,158 $ 2.09 $ 27,500 165,790 $ 2.09 346,501 Series TT - - - 86,050 $ 2.24 192,752 Series VV 1,385,000 $ 1.75 2,423,750 1,385,000 $ 1.75 2,423,750 Series WW 125,775 $ 1.63 204,384 125,775 $ 1.63 204,384 1,523,933 $ 2,655,635 1,822,615 $ 3,305,387 3. Options and Shares Issued to Consultants During the six months ended March 31, 2020 and 2019, the Company issued 32,939 and 140,233 shares, respectively, of restricted common stock to consultants for services. The weighted average grant date fair value of the shares issued to consultants was $9.44 and $3.04 during the six months ended March 31, 2020 and 2019, respectively. During the three months ended March 31, 2020 and 2019, the Company issued 17,120 and 77,449 shares of restricted common stock to consultants for services. The weighted average grant date fair value of the shares issued to consultants was $11.53 and $2.89, respectively, during the three months ended March 31, 2020 and 2019. The aggregate values of the issuances of restricted common stock and common stock options are recorded as prepaid expenses and are charged to general and administrative expenses over the periods of service. During the six months ended March 31, 2020 and 2019, the Company recorded total expense of approximately $347,000 and $511,000, respectively, relating to these consulting agreements. At March 31, 2020 and September 30, 2019, approximately $367,000 and $230,000, respectively, are included in prepaid expenses. At March 31, 2020, the Company has accrued $165,000 for shares to be issued. As of March 31, 2020, 10,000 options issued to consultants remained outstanding, all of which were issued from the Non-Qualified Stock Option plans and are fully vested. 4. Securities Purchase Agreements The Company has entered into Securities Purchase Agreements (SPA) with Ergomed plc, one of the Company’s Clinical Research Organizations responsible for managing the Company’s Phase 3 clinical trial, to facilitate payment of amounts due Ergomed. Under the Agreements, the Company issued Ergomed shares of common stock and the net proceeds from the sales of those shares would reduce outstanding amounts due Ergomed. Upon issuance, the Company expenses the full value of the shares as Other non-operating gain/loss and subsequently offsets the expense as amounts are realized through the sale by Ergomed and reduces accounts payable to Ergomed. On January 9, 2019, the Company entered into an SPA under which it issued Ergomed 500,000 restricted shares of the Company’s common stock valued at approximately $1.3 million. No other shares were issued under the SPA during the periods presented. The following table summarizes the Other Non-Operating Gains (Loss) for the six and three months ended March 31, 2020 and 2019 relating to these agreements: Six Months Ended Three Months Ended 3/31/2020 3/31/2019 3/31/2020 3/31/2019 Amount realized through the resale of shares $ 1,720,680 $ 1,711,353 $ 934,511 $ 559,177 Fair value of shares upon issuance - 1,290,000 - 1,290,000 Other non-operating gain (loss) $ 1,720,680 $ 421,353 $ 934,511 $ (730,823 ) On August 15, 2019, the Company entered into an SPA under which it issued Ergomed 250,000 restricted shares of the Company’s common stock. As of March 31, 2020, Ergomed held 20,250 shares for resale.

D. FAIR VALUE MEASUREMENTS

D. FAIR VALUE MEASUREMENTS	6 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
D. FAIR VALUE MEASUREMENTS	In accordance with ASC 820-10, “Fair Value Measurements,” ASC 820-10 establishes a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to active markets for identical assets and liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The Company classifies fair value balances based on the observability of those inputs. The three levels of the fair value hierarchy are as follows: ● Level 1 – Observable inputs such as quoted prices in active markets for identical assets or liabilities ● Level 2 – Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active and amounts derived from valuation models where all significant inputs are observable in active markets ● Level 3 – Unobservable inputs that reflect management’s assumptions For disclosure purposes, assets and liabilities are classified in their entirety in the fair value hierarchy level based on the lowest level of input that is significant to the overall fair value measurement. The Company’s assessment of the significance of an input to the fair value measurement requires judgment and may affect the placement within the fair value hierarchy levels. The table below sets forth the assets and liabilities measured at fair value on a recurring basis, by input level, in the condensed balance sheet at March 31, 2020: Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Derivative instruments $ - $ - $ 6,224,293 $ 6,224,293 The table below sets forth the assets and liabilities measured at fair value on a recurring basis, by input level, in the condensed balance sheet at September 30, 2019: Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Derivative instruments $ - $ - $ 6,488,310 $ 6,488,310 The following sets forth the reconciliation of beginning and ending balances related to fair value measurements using significant unobservable inputs (Level 3) for the six months ended March 31, 2020 and the year ended September 30, 2019: Six months ended Twelve months ended March 31, 2020 September 30, 2019 Beginning balance $ 6,488,310 $ 9,317,031 Issuances - - Exercises (2,546,535 ) (3,589,357 ) Realized and unrealized losses 2,282,518 760,636 Ending balance $ 6,224,293 $ 6,488,310 The fair values of the Company’s derivative instruments disclosed above under Level 3 are primarily derived from valuation models where significant inputs such as historical price and volatility of the Company’s stock, as well as U.S. Treasury Bill rates, are observable in active markets.

E. RELATED PARTY TRANSACTIONS

E. RELATED PARTY TRANSACTIONS	6 Months Ended
	Mar. 31, 2020
Related Party Transactions [Abstract]
E. RELATED PARTY TRANSACTIONS	During the six months ended March 31, 2020, officers and directors of the Company purchased 20,512 shares of restricted common stock at an aggregate fair market value of approximately $185,000. This include 16,787 shares purchased during the three months ended March 31, 2020 with an aggregate fair market value of approximately $160,000. On January 23, 2020, the expiration date of the Series N warrants was extended to February 18, 2021. The incremental cost of this extension was approximately $22,000, which was recorded as a deemed dividend in the financial statements for the six and three months ended March 31, 2020. The Series N warrants are held by the de Clara Trust, of which the Company’s CEO, Geert Kersten, is a beneficiary.

F. COMMITMENTS AND CONTINGENCIE

F. COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
F. COMMITMENTS AND CONTINGENCIES	Clinical Research Agreements Under co-development and revenue sharing agreements with Ergomed, Ergomed agreed to contribute up to $12 million towards the Company’s Phase 3 Clinical Trial in the form of discounted clinical services in exchange for a single digit percentage of milestone and royalty payments, up to a specific maximum amount. The Company accounted for the co-development and revenue sharing agreements in accordance with ASC 808 “Collaborative Arrangements”. The Company determined the payments to Ergomed are within the scope of ASC 730 “Research and Development.” Therefore, the Company records the discount on the clinical services as a credit to research and development expense on its Statements of Operations. Since the inception of the agreement with Ergomed, the Company has incurred research and development expenses of approximately $32.5 million for Ergomed’s services. This amount is net of Ergomed’s discount of approximately $11 million. During the six months ended March 31, 2020 and 2019, the Company recorded, net of Ergomed’s discount, approximately $1.6 million and $1.5 million, respectively, as research and development expense related to Ergomed’s services. During the three months ended March 31, 2020 and 2019, the Company recorded, net of Ergomed’s discount, approximately $0.8 million and $0.7 million, respectively, as research and development expense related to Ergomed’s services. Lease Agreements The Company determines whether a contract contains a lease at the inception of a contract by determining if the contract conveys the right to control the use of identified property, plant or equipment over a period of time in exchange for consideration. The Company leases certain real estate, machinery, equipment and office equipment for varying periods. Many of these leases include an option to either renew or terminate the lease. For purposes of calculating lease liabilities, these options are included in the lease term when it is reasonably certain that the Company will exercise such options. The incremental borrowing rate utilized to calculate the lease liabilities is based on the information available at commencement date, as most of the leases do not provide an implicit borrowing rate. Short-term leases, defined as leases with initial terms of 12 months or less, are not reflected on the balance sheet. Lease expense for such short-term leases is not material. For purposes of calculating lease liabilities, lease and non-lease components are combined. The Company leases a manufacturing facility near Baltimore, Maryland (the San Tomas lease). The building was remodeled in accordance with the Company’s specifications so that it can be used by the Company to manufacture Multikine for the Company’s Phase 3 clinical trial and sales of the drug if approved by the FDA. The lease is for a term of twenty years and requires annual base rent to escalate each year at 3%. The Company is required to pay all real estate and personal property taxes, insurance premiums, maintenance expenses, repair costs and utilities. The lease allows the Company, at its election, to extend the lease for two ten-year periods or to purchase the building at the end of the 20-year lease, which expires in October 2028. Upon adoption of ASC 842 on October 1, 2019, the Company recorded a finance lease right of use asset and a finance lease liability of approximately $13.5 million. As of March 31, 2020, the net book value of the finance lease right of use asset is approximately $12.7 million and the balance of the finance lease liability is approximately $13.1 million, of which approximately $0.9 million is current. These amounts include the San Tomas lease as well as several other smaller finance leases for office equipment. The finance right of use assets are being depreciated using a straight-line method over the underlying lease terms. Total cash paid related to finance leases during the six months ended March 31, 2020 was approximately $940,000, of which approximately $586,000 was for interest. The weighted average discount rate of the Company’s finance leases is 8.8% and the weighted average time to maturity is 8.8 years. The Company was required to deposit the equivalent of one year of base rent in accordance with the lease. When the Company meets the minimum cash balance required by the lease, the deposit will be returned to the Company. The approximate $1.7 million deposit is included in non-current assets at March 31, 2020 and September 30, 2019. Approximate future minimum lease payments under finance leases as of March 31, 2020 are as follows: Six months ending September 30, 2020 $ 946,000 Year ending September 30, 2021 1,953,000 2022 2,014,000 2023 2,083,000 2024 2,148,000 2025 2,218,000 Thereafter 7,322,000 Total future minimum lease obligation 18,684,000 Less imputed interest on finance lease obligations (5,585,000 ) Net present value of lease finance lease obligations $ 13,099,000 The Company rents a portion of its space on a month-to-month term basis, which requires a 30-day notice for termination. On January 3, 2020, the Company notified the tenant of the sublet property of its intention to terminate the sublease effective April 30, 2020 since this space is needed to prepare the facility to produce Multikine for commercial purposes and before the Company’s Biologics License Application (BLA) can be submitted to the FDA. The rental income for each of the six months ended March 31, 2020 and 2019 was approximately $37,000 and $36,000, respectively. The sublease rental income for each of the three months ended March 31, 2020 and 2019 was approximately $18,000. The Company leases two facilities under 60-month operating leases – the lease for its research and development laboratory expires February 28, 2022 and the lease for its office headquarters expires June 30, 2020. During the six months ended March 31, 2020, the Company incurred approximately $80,000 in leasehold improvements costs for the research and development lab and is reasonably certain to renew the lease through February 28, 2027. The renewal period is included in the right of use asset and liability calculations. The operating leases include escalating rental payments. The Company is recognizing the related rent expense on a straight-line basis over the full 60-month terms of the leases. Upon adoption of ASC 842 on October 1, 2019, the Company recorded an operating lease right of use asset and an operating lease liability of approximately $1.0 million. As of March 31, 2020, the net book value of the operating lease right of use asset is approximately $0.9 million and the balance of the operating lease liability is approximately $0.9 million, of which approximately $0.1 million is current. The Company incurred lease expense under operating leases of approximately $135,000 and $68,000 for the six and three months ended March 31, 2020, respectively. Total cash paid related to operating leases during the six and three months ended March 31, 2020 was approximately $132,000 and $66,000, respectively. As of March 31, 2020, future minimum lease payments on operating leases are as follows: Six months ending September 30, 2020 $ 107,000 Year ending September 30, 2021 163,000 2022 168,000 2023 173,000 2024 178,000 2025 183,000 Thereafter 269,000 Total future minimum lease obligation 1,241,000 Less imputed interest on operating lease obligation (317,000 ) Net present value of operating lease obligation $ 924,000

G. PATENTS

G. PATENTS	6 Months Ended
	Mar. 31, 2020
Intangible Assets, Net (Excluding Goodwill) [Abstract]
G. PATENTS	During the six months ended March 31, 2020 and 2019, no patent impairment charges were recorded. For the six months ended March 31, 2020 and 2019, amortization of patent costs totaled approximately $27,000 and $23,000, respectively. For the three months ended March 31, 2020 and 2019, amortization of patent costs totaled approximately $14,000 and $11,000, respectively. Approximate estimated future amortization expense is as follows: Six months ending September 30, 2020 $ 26,000 Year ending September 30, 2021 50,000 2022 46,000 2023 36,000 2024 28,000 2025 25,000 Thereafter 101,000 Total $ 312,000

H. LOSS PER COMMON SHARE

H. LOSS PER COMMON SHARE	6 Months Ended
	Mar. 31, 2020
Net loss per common share
H. LOSS PER COMMON SHARE	The following tables provide the details of the basic and diluted loss per-share computations: Six months ended March 31, Three months ended March 31, 2020 2019 2020 2019 Loss per share - basic Net loss available to common shareholders - basic $ (14,508,512 ) $ (5,201,779 ) $ (9,033,352 ) $ (6,447,681 ) Weighted average shares outstanding - basic 35,621,711 28,543,417 36,165,050 29,113,910 Basic loss per common share $ (0.41 ) $ (0.18 ) $ (0.25 ) $ (0.22 ) Loss per share - diluted Net loss available to common shareholders - basic $ (14,508,512 ) $ (5,201,779 ) $ (9,033,352 ) $ (6,447,681 ) Gain on derivatives (1) - (335,560 ) - - Net loss available to common shareholders - diluted $ (14,508,512 ) $ (5,537,339 ) $ (9,033,352 ) $ (6,447,681 ) Weighted average shares outstanding - basic 35,621,711 28,543,417 36,165,050 29,113,910 Incremental shares underlying dilutive "in the money" warrants (1) - 5,401 - - Weighted average shares outstanding - diluted 35,621,711 28,548,818 36,165,050 29,113,910 Diluted loss per common share $ (0.41 ) $ (0.19 ) $ (0.25 ) $ (0.22 ) (1) Includes shares issuable upon the exercise of the Series GG, II and KK warrants for the six months ended March 31, 2019. The gain on derivatives priced lower than the average market price during the period is excluded from the numerator and the related shares are excluded from the denominator in calculating diluted loss per share. In accordance with the contingently issuable shares guidance of FASB ASC Topic 260, Earnings Per Share 2020 2019 Options and Warrants 6,452,645 10,576,881 Unvested Restricted Stock 318,798 308,500 Total 6,771,443 10,885,381

I. SUBSEQUENT EVENTS

I. SUBSEQUENT EVENTS	6 Months Ended
	Mar. 31, 2020
Subsequent Events [Abstract]
I. SUBSEQUENT EVENTS	On April 6, 2020, the Company agreed to issue Ergomed 100,000 restricted shares of the Company’s common stock in payment of amounts the Company may owe Ergomed for providing services to the Company. Under the terms of the March 2020 Underwriting Agreement the Company granted the Underwriters a 45-day option to purchase up to an additional 94,575 shares of common stock solely to cover over-allotments. The underwriter fully exercised this option on May 4, 2020 resulting in additional net proceeds to the Company of approximately $1.1 million.

A. BASIS OF PRESENTATION AND _2

A. BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (POLICIES)	6 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation	The accompanying condensed financial statements of CEL-SCI Corporation (the Company) are unaudited and certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) have been omitted pursuant to the rules and regulations of the Securities and Exchange Commission. While management of the Company believes that the disclosures presented are adequate to make the information presented not misleading, these interim condensed financial statements should be read in conjunction with the financial statements and notes included in the Company’s annual report on Form 10-K/A for the year ended September 30, 2019. In the opinion of management, the accompanying unaudited condensed financial statements contain all adjustments necessary for a fair presentation of the Company’s financial position as of March 31, 2020 and the results of its operations for the six months then ended. The condensed balance sheet as of September 30, 2019 is derived from the September 30, 2019 audited financial statements. On October 1, 2019, the Company adopted Accounting Standards Update (ASU) No. 2016-02 , “ Leases” The financial statements have been prepared assuming that the Company will continue as a going concern, but due to recurring losses from operations and future liquidity needs, there is substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Refer to discussion in Note B.
Research and Office Equipment and Leasehold Improvements	Research and Office Equipment and Leasehold Improvements
Patents	Patents
Research and Development Costs	Research and Development Costs
Income Taxes	Income Taxes
Derivative Instruments	Derivative Instruments Accounting for Derivative Instruments and Hedging Activities
Stock-Based Compensation	Stock-Based Compensation Compensation – Stock Compensation The Company has Incentive Stock Option Plans, Non-Qualified Stock Option Plans, Stock Compensation Plans, Stock Bonus Plans and an Incentive Stock Bonus Plan. In some cases, these Plans are collectively referred to as the "Plans". All Plans have been approved by the stockholders. The Company’s stock options are not transferable, and the actual value of the stock options that an employee may realize, if any, will depend on the excess of the market price on the date of exercise over the exercise price. The Company has based its assumption for stock price volatility on the variance of daily closing prices of the Company’s stock. The risk-free interest rate assumption was based on the U.S. Treasury rate at date of the grant with term equal to the expected life of the option. Forfeitures are accounted for when they occur. The expected term of options represents the period that options granted are expected to be outstanding and has been determined based on an analysis of historical exercise behavior. If any of the assumptions used in the Black-Scholes model change significantly, stock-based compensation expense for new awards may differ materially in the future from that recorded in the current period. Vesting of restricted stock granted under the Incentive Stock Bonus Plan is subject to service, performance and market conditions and meets the classification of equity awards. These awards were measured at market value on the grant-dates for issuances where the attainment of performance criteria is likely and at fair value on the grant-dates, using a Monte Carlo simulation for issuances where the attainment of performance criteria is uncertain. The total compensation cost will be expensed over the estimated requisite service period.
New Accounting Pronouncements	Newly Adopted Accounting Pronouncements Effective October 1, 2019, the Company adopted ASC 842. ASC 842 requires that lessees recognize right-of-use assets and lease liabilities that are measured at the present value of the future lease payments at the lease commencement date. Subsequent measurement, including the presentation of expenses and cash flows, depends on the classification of the lease as either a finance lease or an operating lease. The Company elected the optional transition method that allows for a cumulative-effect adjustment in the period of adoption and did not restate prior periods. The Company also elected the transition package of three practical expedients which eliminates the requirements to reassess prior conclusions about lease identification, lease classification and initial direct costs. Further, the Company elected a short-term lease exception policy permitting the option to not apply the recognition requirements of this standard to short-term leases (i.e., leases with terms of 12 months or less) and an accounting policy to account for lease and non-lease components as a single component. The Company’s lease portfolio includes both finance and operating leases. The impact of adopting ASC 842 was to increase long term assets by approximately $1.0 million, decrease total liabilities by approximately $0.9 million and record a cumulative effect adjustment of approximately $0.1 million to opening accumulated deficit. In June 2018, the Financial Accounting Standards Board ("FASB") issued ASU 2018-07, Compensation—Stock Compensation (Topic 718 New Accounting Pronouncements In August 2018, the FASB issued ASU 2018-13, “ Fair Value Measurement - Disclosure Framework (Topic )” The Company has considered all other recently issued accounting pronouncements and does not believe the adoption of such pronouncements will have a material impact on its financial statements.

C. STOCKHOLDERS EQUITY (Tables)

C. STOCKHOLDERS EQUITY (Tables)	6 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Stock options, stock bonuses and compensation granted by the Company	Underlying share information for equity compensation plans as of March 31, 2020 is as follows: Name of Plan Total Shares Reserved Under Plans Shares Reserved for Outstanding Options Shares Issued Remaining Options/Shares Under Plans Incentive Stock Options Plans 138,400 89,895 N/A 213 Non-Qualified Stock Option Plans 6,387,200 6,108,173 N/A 131,146 Stock Bonus Plans 783,760 N/A 339,076 444,651 Stock Compensation Plans 634,000 N/A 150,695 464,895 Incentive Stock Bonus Plan 640,000 N/A 616,500 23,500 Underlying share information for equity compensation plans as of September 30, 2019 is as follows: Name of Plan Total Shares Reserved Under Plans Shares Reserved for Outstanding Options Shares Issued Remaining Options/Shares Under Plans Incentive Stock Option Plans 138,400 89,895 N/A 213 Non-Qualified Stock Option Plans 6,387,200 6,128,321 N/A 112,166 Stock Bonus Plans 783,760 N/A 331,226 452,501 Stock Compensation Plans 634,000 N/A 130,183 485,407 Incentive Stock Bonus Plan 640,000 N/A 616,500 23,500
Stock option activity	Six Months Ended March 31, 2020 2019 Options granted 2,500 500 Options exercised 20,480 - Options forfeited 1,000 24,193 Options expired 1,168 2,400 Three Months Ended March 31, 2020 2019 Options granted 1,500 - Options exercised 20,480 - Options forfeited 1,000 24,193 Options expired 1,132 -
Stock-based compensation expense	Six months Ended March 31, 2020 2019 Employees $ 3,581,204 $ 1,104,490 Non-employees $ 347,227 $ 511,424 Three months Ended March 31, 2020 2019 Employees $ 1,780,979 $ 530,830 Non-employees $ 191,487 $ 272,520
Derivative liabilities, warrants and other options	Warrant/Options Issue Date Shares Issuable upon Exercise of Warrants/ Options Exercise Price Expiration Date Reference Series N 8/18/2008 85,339 $ 3.00 2/18/2021 2 Series V 5/28/2015 810,127 $ 19.75 5/28/2020 1 Series UU 6/11/2018 154,810 $ 2.80 6/11/2020 * Series W 10/28/2015 688,930 $ 16.75 10/28/2020 1 Series X 1/13/2016 120,000 $ 9.25 1/13/2021 * Series Y 2/15/2016 26,000 $ 12.00 2/15/2021 * Series ZZ 5/23/2016 20,000 $ 13.75 5/18/2021 1 Series BB 8/26/2016 16,000 $ 13.75 8/22/2021 1 Series Z 5/23/2016 264,000 $ 13.75 11/23/2021 1 Series CC 12/8/2016 153,643 $ 5.00 12/8/2021 1 Series HH 2/23/2017 200 $ 3.13 2/16/2022 1 Series AA 8/26/2016 200,000 $ 13.75 2/22/2022 1 Series MM 6/22/2017 893,491 $ 1.86 6/22/2022 * Series NN 7/24/2017 375,545 $ 2.52 7/24/2022 2 Series OO 7/31/2017 10,000 $ 2.52 7/31/2022 2 Series RR 10/30/2017 457,116 $ 1.65 10/30/2022 * Series SS 12/19/2017 365,538 $ 2.09 12/18/2022 2 Series TT 2/5/2018 381,564 $ 2.24 2/5/2023 2 Series VV 7/2/2018 55,000 $ 1.75 1/2/2024 2 Consultants 7/28/17 10,000 $ 2.18 7/27/2027 * * No current period changes to these warrants and non-employee options
Tabular disclosure of derivative liabilities at fair value	March 31, 2020 September 30, 2019 Series V warrants $ 595,981 $ 674,442 Series W warrants 1,560,876 1,193,507 Series Z warrants 1,421,421 1,109,545 Series ZZ warrants 82,223 77,638 Series AA warrants 1,243,531 916,908 Series BB warrants 70,994 63,966 Series CC warrants 1,247,399 1,710,898 Series FF warrants - 446,185 Series HH warrants 1,868 45,657 Series JJ warrants - 66,599 Series LL warrants - 182,965 Total warrant liabilities $ 6,224,293 $ 6,488,310
Schedule of gains and (losses) on derivative liabilities	The table below presents the gains/(losses) on the warrant liabilities for the six months ended March 31: 2020 2019 Series S warrants $ - $ 33 Series V warrants 78,461 494,852 Series W warrants (367,369 ) 616,028 Series Z warrants (311,876 ) 114,831 Series ZZ warrants (4,585 ) 12,638 Series AA warrants (326,623 ) 93,268 Series BB warrants (7,028 ) 7,736 Series CC warrants (826,277 ) 339,698 Series DD warrants - 1,249,287 Series EE warrants - 1,249,287 Series FF warrants (319,706 ) 34,603 Series GG warrants - 106,750 Series HH warrants (34,457 ) 10,642 Series II warrants - 115,343 Series JJ warrants (64,992 ) 15,926 Series KK warrants - 113,467 Series LL warrants (98,066 ) 14,746 Net (loss)/gain on warrant liabilities $ (2,282,518 ) $ 4,589,135 The table below presents the losses on the warrant liabilities for the three months ended March 31: 2020 2019 Series V warrants $ (476,570 ) $ (61,480 ) Series W warrants (518,743 ) (10,822 ) Series Z warrants (322,425 ) (89,290 ) Series ZZ warrants (19,432 ) (1,685 ) Series AA warrants (391,601 ) (63,951 ) Series BB warrants (6,597 ) (4,374 ) Series CC warrants (803,596 ) (325,908 ) Series FF warrants (312,517 ) (34,459 ) Series GG warrants - (106,032 ) Series HH warrants (34,375 ) (10,309 ) Series II warrants - (115,246 ) Series JJ warrants (64,862 ) (15,536 ) Series KK warrants - (114,628 ) Series LL warrants (98,309 ) (13,451 ) Net loss on warrant liabilities $ (3,049,027 ) $ (967,171 )
Warrants recorded as liabilities exercised	Three Months Six Months Warrants Warrants Exercised Exercise Price Proceeds Warrants Exercised Exercise Price Proceeds Series CC 123,820 $ 5.00 $ 619,100 123,820 $ 5.00 $ 619,100 Series FF 68,048 $ 3.91 265,812 68,048 $ 3.91 265,812 Series HH 6,300 $ 3.13 19,687 6,300 $ 3.13 19,687 Series JJ 9,450 $ 3.13 29,531 9,450 $ 3.13 29,531 Series LL 26,398 $ 3.59 94,867 26,398 $ 3.59 94,867 234,016 $ 1,028,997 234,016 $ 1,028,997
Warrants recorded as equity exercised	The following warrants recorded as equity were exercised during the periods ended March 31, 2020. Three Months Six Months Warrants Warrants Exercised Exercise Price Proceeds Warrants Exercised Exercise Price Proceeds Series NN 98,253 $ 2.52 $ 247,598 98,253 $ 2.52 $ 247,598 Series OO 30,000 $ 2.52 75,600 40,000 $ 2.52 100,800 Series SS 94,474 $ 2.09 197,451 117,106 $ 2.09 244,752 Series TT 77,857 $ 2.24 174,400 178,125 $ 2.24 399,000 Series VV 27,500 $ 1.75 48,125 27,500 $ 1.75 48,125 328,084 $ 743,174 460,984 $ 1,040,275 The following warrants recorded as equity were exercised during the periods ended March 31, 2019. Three Months Six Months Warrants Warrants Exercised Exercise Price Proceeds Warrants Exercised Exercise Price Proceeds Series PP - - - 60,000 $ 2.30 $ 138,000 Series SS 13,158 $ 2.09 $ 27,500 165,790 $ 2.09 346,501 Series TT - - - 86,050 $ 2.24 192,752 Series VV 1,385,000 $ 1.75 2,423,750 1,385,000 $ 1.75 2,423,750 Series WW 125,775 $ 1.63 204,384 125,775 $ 1.63 204,384 1,523,933 $ 2,655,635 1,822,615 $ 3,305,387
Other non-operating gains and (losses) on securities purchase agreements	Six Months Ended Three Months Ended 3/31/2020 3/31/2019 3/31/2020 3/31/2019 Amount realized through the resale of shares $ 1,720,680 $ 1,711,353 $ 934,511 $ 559,177 Fair value of shares upon issuance - 1,290,000 - 1,290,000 Other non-operating gain (loss) $ 1,720,680 $ 421,353 $ 934,511 $ (730,823 )

D. FAIR VALUE MEASUREMENTS (Tab

D. FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Measured at fair value on a recurring basis	The table below sets forth the assets and liabilities measured at fair value on a recurring basis, by input level, in the condensed balance sheet at March 31, 2020: Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Derivative instruments $ - $ - $ 6,224,293 $ 6,224,293 The table below sets forth the assets and liabilities measured at fair value on a recurring basis, by input level, in the condensed balance sheet at September 30, 2019: Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Derivative instruments $ - $ - $ 6,488,310 $ 6,488,310
Reconciliation of beginning and ending balances related to fair value measurements using significant unobservable inputs (Level 3)	Six months ended Twelve months ended March 31, 2020 September 30, 2019 Beginning balance $ 6,488,310 $ 9,317,031 Issuances - - Exercises (2,546,535 ) (3,589,357 ) Realized and unrealized losses 2,282,518 760,636 Ending balance $ 6,224,293 $ 6,488,310

F. COMMITMENTS AND CONTINGENC_2

F. COMMITMENTS AND CONTINGENCIES (Tables)	6 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Schedule of future minimum payments under finance leases	Six months ending September 30, 2020 $ 946,000 Year ending September 30, 2021 1,953,000 2022 2,014,000 2023 2,083,000 2024 2,148,000 2025 2,218,000 Thereafter 7,322,000 Total future minimum lease obligation 18,684,000 Less imputed interest on finance lease obligations (5,585,000 ) Net present value of lease finance lease obligations $ 13,099,000
Schedule of future minimum payments under operating leases	Six months ending September 30, 2020 $ 107,000 Year ending September 30, 2021 163,000 2022 168,000 2023 173,000 2024 178,000 2025 183,000 Thereafter 269,000 Total future minimum lease obligation 1,241,000 Less imputed interest on operating lease obligation (317,000 ) Net present value of operating lease obligation $ 924,000

G. PATENTS (Tables)

G. PATENTS (Tables)	6 Months Ended
	Mar. 31, 2020
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Schedule of total estimated future amortization	Six months ending September 30, 2020 $ 26,000 Year ending September 30, 2021 50,000 2022 46,000 2023 36,000 2024 28,000 2025 25,000 Thereafter 101,000 Total $ 312,000

H. LOSS PER COMMON SHARE (Table

H. LOSS PER COMMON SHARE (Tables)	6 Months Ended
	Mar. 31, 2020
Net loss per common share
Computation of basic and diluted loss per share	Six months ended March 31, Three months ended March 31, 2020 2019 2020 2019 Loss per share - basic Net loss available to common shareholders - basic $ (14,508,512 ) $ (5,201,779 ) $ (9,033,352 ) $ (6,447,681 ) Weighted average shares outstanding - basic 35,621,711 28,543,417 36,165,050 29,113,910 Basic loss per common share $ (0.41 ) $ (0.18 ) $ (0.25 ) $ (0.22 ) Loss per share - diluted Net loss available to common shareholders - basic $ (14,508,512 ) $ (5,201,779 ) $ (9,033,352 ) $ (6,447,681 ) Gain on derivatives (1) - (335,560 ) - - Net loss available to common shareholders - diluted $ (14,508,512 ) $ (5,537,339 ) $ (9,033,352 ) $ (6,447,681 ) Weighted average shares outstanding - basic 35,621,711 28,543,417 36,165,050 29,113,910 Incremental shares underlying dilutive "in the money" warrants (1) - 5,401 - - Weighted average shares outstanding - diluted 35,621,711 28,548,818 36,165,050 29,113,910 Diluted loss per common share $ (0.41 ) $ (0.19 ) $ (0.25 ) $ (0.22 ) (1) Includes shares issuable upon the exercise of the Series GG, II and KK warrants for the six months ended March 31, 2019.
Schedule of antidilutive securities	2020 2019 Options and Warrants 6,452,645 10,576,881 Unvested Restricted Stock 318,798 308,500 Total 6,771,443 10,885,381

C. STOCKHOLDERS EQUITY (Details

C. STOCKHOLDERS EQUITY (Details) - shares	Mar. 31, 2020	Sep. 30, 2019
Incentive Stock Option Plans
Total shares reserved under plans	138,400	138,400
Shares reserved for outstanding options	89,895	89,895
Shares issued	0	0
Remaining options/shares under plans	213	213
Non Qualified Stock Option Plans
Total shares reserved under plans	6,387,200	6,387,200
Shares reserved for outstanding options	6,108,173	6,128,321
Shares issued	0	0
Remaining options/shares under plans	131,146	112,166
Stock Bonus Plans
Total shares reserved under plans	783,760	783,760
Shares reserved for outstanding options	0	0
Shares issued	339,079	331,226
Remaining options/shares under plans	444,651	452,501
Stock Compensation Plan
Total shares reserved under plans	634,000	634,000
Shares reserved for outstanding options	0	0
Shares issued	150,695	130,183
Remaining options/shares under plans	464,895	485,407
Incentive Stock Bonus Plan
Total shares reserved under plans	640,000	640,000
Shares reserved for outstanding options	0	0
Shares issued	616,500	616,500
Remaining options/shares under plans	23,500	23,500

C. STOCKHOLDERS EQUITY (Detai_2

C. STOCKHOLDERS EQUITY (Details 1) - shares	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Equity [Abstract]
Options granted	1,500	0	2,500	500
Options exercised	20,480	0	20,480	0
Options forfeited	1,000	24,193	1,000	24,193
Options expired	1,132	0	1,168	2,400

C. STOCKHOLDERS EQUITY (Detai_3

C. STOCKHOLDERS EQUITY (Details 2) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Employee
Stock based compensation expense	$ 1,780,979	$ 530,830	$ 3,581,204	$ 1,104,490
Non-Employees
Stock based compensation expense	$ 191,487	$ 272,520	$ 347,227	$ 511,424

C. STOCKHOLDERS EQUITY (Detai_4

C. STOCKHOLDERS EQUITY (Details 3)	6 Months Ended
	Mar. 31, 2020$ / sharesshares
Series N
STOCKHOLDERS' EQUITY
Issue date	8/18/2008
Shares issuable upon exercise of warrant | shares	85,339
Exercise price | $ / shares	$ 3
Expiration date	2/18/2021
Series V
STOCKHOLDERS' EQUITY
Issue date	5/28/2015
Shares issuable upon exercise of warrant | shares	810,127
Exercise price | $ / shares	$ 19.75
Expiration date	5/28/2020
Series UU
STOCKHOLDERS' EQUITY
Issue date	6/11/2018
Shares issuable upon exercise of warrant | shares	154,810
Exercise price | $ / shares	$ 2.80
Expiration date	6/11/2020
Series W
STOCKHOLDERS' EQUITY
Issue date	10/28/2015
Shares issuable upon exercise of warrant | shares	688,930
Exercise price | $ / shares	$ 16.75
Expiration date	10/28/2020
Series X
STOCKHOLDERS' EQUITY
Issue date	1/13/2016
Shares issuable upon exercise of warrant | shares	120,000
Exercise price | $ / shares	$ 9.25
Expiration date	1/13/2021
Series Y
STOCKHOLDERS' EQUITY
Issue date	2/15/2016
Shares issuable upon exercise of warrant | shares	26,000
Exercise price | $ / shares	$ 12
Expiration date	2/15/2021
Series ZZ
STOCKHOLDERS' EQUITY
Issue date	5/23/2016
Shares issuable upon exercise of warrant | shares	20,000
Exercise price | $ / shares	$ 13.75
Expiration date	5/18/2021
Series BB
STOCKHOLDERS' EQUITY
Issue date	8/26/2016
Shares issuable upon exercise of warrant | shares	16,000
Exercise price | $ / shares	$ 13.75
Expiration date	8/22/2021
Series Z
STOCKHOLDERS' EQUITY
Issue date	5/23/2016
Shares issuable upon exercise of warrant | shares	264,000
Exercise price | $ / shares	$ 13.75
Expiration date	11/23/2021
Series CC
STOCKHOLDERS' EQUITY
Issue date	12/8/2016
Shares issuable upon exercise of warrant | shares	153,643
Exercise price | $ / shares	$ 5
Expiration date	12/8/2021
Series HH
STOCKHOLDERS' EQUITY
Issue date	2/23/2017
Shares issuable upon exercise of warrant | shares	200
Exercise price | $ / shares	$ 3.13
Expiration date	2/16/2022
Series AA
STOCKHOLDERS' EQUITY
Issue date	8/26/2016
Shares issuable upon exercise of warrant | shares	200,000
Exercise price | $ / shares	$ 13.75
Expiration date	2/22/2022
Series MM
STOCKHOLDERS' EQUITY
Issue date	6/22/2017
Shares issuable upon exercise of warrant | shares	893,491
Exercise price | $ / shares	$ 1.86
Expiration date	6/22/2022
Series NN
STOCKHOLDERS' EQUITY
Issue date	7/24/2017
Shares issuable upon exercise of warrant | shares	375,545
Exercise price | $ / shares	$ 2.52
Expiration date	7/24/2022
Series OO
STOCKHOLDERS' EQUITY
Issue date	7/31/2017
Shares issuable upon exercise of warrant | shares	10,000
Exercise price | $ / shares	$ 2.52
Expiration date	7/31/2022
Series RR
STOCKHOLDERS' EQUITY
Issue date	10/30/2017
Shares issuable upon exercise of warrant | shares	457,116
Exercise price | $ / shares	$ 1.65
Expiration date	10/30/2022
Series SS
STOCKHOLDERS' EQUITY
Issue date	12/19/2017
Shares issuable upon exercise of warrant | shares	365,538
Exercise price | $ / shares	$ 2.09
Expiration date	12/18/2022
Series TT
STOCKHOLDERS' EQUITY
Issue date	2/5/2018
Shares issuable upon exercise of warrant | shares	381,564
Exercise price | $ / shares	$ 2.24
Expiration date	2/5/2023
Series VV
STOCKHOLDERS' EQUITY
Issue date	7/2/2018
Shares issuable upon exercise of warrant | shares	55,000
Exercise price | $ / shares	$ 1.75
Expiration date	1/2/2024
Consultants
STOCKHOLDERS' EQUITY
Issue date	7/28/2017
Shares issuable upon exercise of warrant | shares	10,000
Exercise price | $ / shares	$ 2.18
Expiration date	7/27/2027

C. STOCKHOLDERS EQUITY (Detai_5

C. STOCKHOLDERS EQUITY (Details 4) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019	Sep. 30, 2019
Equity [Abstract]
Series V warrants	$ 595,981		$ 595,981		$ 674,442
Series W warrants	1,560,876		1,560,876		1,193,507
Series Z warrants	1,421,421		1,421,421		1,109,545
Series ZZ warrants	82,223		82,223		77,638
Series AA warrants	1,243,531		1,243,531		916,908
Series BB warrants	70,994		70,994		63,966
Series CC warrants	1,247,399		1,247,399		1,710,898
Series FF warrants	0		0		446,185
Series HH warrants	1,868		1,868		45,657
Series JJ warrants	0		0		66,599
Series LL warrants	0		0		182,965
Total warrant liabilities	6,224,293		6,224,293		$ 6,488,310
Gains (losses) on Series S warrants	0	$ 0	0	$ 33
Gains (losses) on Series V warrants	(476,570)	(61,480)	78,461	494,852
Gains (losses) on Series W warrants	(518,743)	(10,822)	(367,369)	616,028
Gains (losses) on Series Z warrants	(322,425)	(89,290)	(311,876)	114,831
Gains (losses) on Series ZZ warrants	(19,432)	(1,685)	(4,585)	12,638
Gains (losses) on Series AA warrants	(391,601)	(63,951)	(326,623)	93,268
Gains (losses) on Series BB warrants	(6,597)	(4,374)	(7,028)	7,736
Gains (losses) on Series CC warrants	(803,596)	(325,908)	(826,277)	339,698
Gains (losses) on Series DD warrants	0	0	0	1,249,287
Gains (losses) on Series EE warrants	0	0	0	1,249,287
Gains (losses) on Series FF warrants	(312,517)	(34,459)	(319,706)	34,603
Gains (losses) on Series GG warrants	0	(106,032)	0	106,750
Gains (losses) on Series HH warrants	(34,375)	(10,309)	(34,457)	10,642
Gains (losses) on Series II warrants	0	(115,246)	0	115,343
Gains (losses) on Series JJ warrants	(64,862)	(15,536)	(64,992)	15,926
Gains (losses) on Series KK warrants	0	(114,628)	0	113,467
Gains (losses) on Series LL warrants	(98,309)	(13,451)	(98,066)	14,746
Net (loss)/gain on warrant liabilities	$ (3,049,027)	$ (967,171)	$ (2,282,518)	$ 4,589,135

C. STOCKHOLDERS EQUITY (Detai_6

C. STOCKHOLDERS EQUITY (Details 5) - USD ($)	3 Months Ended	6 Months Ended
	Mar. 31, 2020	Mar. 31, 2020
Warrants exercised	234,016	234,016
Proceeds	$ 1,028,997	$ 1,028,997
Series CC
Warrants exercised	123,820	123,820
Exercise price	$ 5	$ 5
Proceeds	$ 619,100	$ 619,100
Series FF
Warrants exercised	68,048	68,048
Exercise price	$ 3.91	$ 3.91
Proceeds	$ 265,812	$ 265,812
Series HH
Warrants exercised	6,300	6,300
Exercise price	$ 3.13	$ 3.13
Proceeds	$ 19,687	$ 19,687
Series JJ
Warrants exercised	9,450	9,450
Exercise price	$ 3.13	$ 3.13
Proceeds	$ 29,531	$ 29,531
Series LL
Warrants exercised	26,398	26,398
Exercise price	$ 3.59	$ 3.59
Proceeds	$ 94,867	$ 94,867

C. STOCKHOLDERS EQUITY (Detai_7

C. STOCKHOLDERS EQUITY (Details 6) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Warrants exercised	328,084	1,523,933	460,984	1,822,615
Proceeds	$ 743,174	$ 2,655,635	$ 1,040,275	$ 3,305,387
Series NN
Warrants exercised	98,253		98,253
Exercise price	$ 2.52		$ 2.52
Proceeds	$ 247,598		$ 247,598
Series OO
Warrants exercised	30,000		40,000
Exercise price	$ 2.52		$ 2.52
Proceeds	$ 75,600		$ 100,800
Series PP
Warrants exercised		0		60,000
Exercise price		$ 0		$ 2.30
Proceeds		$ 0		$ 138,000
Series SS
Warrants exercised	94,474	13,158	117,106	165,790
Exercise price	$ 2.09	$ 2.09	$ 2.09	$ 2.09
Proceeds	$ 197,451	$ 27,500	$ 244,752	$ 346,501
Series TT
Warrants exercised	77,857	0	178,125	86,050
Exercise price	$ 2.24	$ 0	$ 2.24	$ 2.24
Proceeds	$ 174,400	$ 0	$ 399,000	$ 192,752
Series VV
Warrants exercised	27,500	1,385,000	27,500	1,385,000
Exercise price	$ 1.75	$ 1.75	$ 1.75	$ 1.75
Proceeds	$ 48,125	$ 2,423,750	$ 48,125	$ 2,423,750
Series WW
Warrants exercised		125,775		125,775
Exercise price		$ 1.63		$ 1.63
Proceeds		$ 204,384		$ 204,384

C. STOCKHOLDERS EQUITY (Detai_8

C. STOCKHOLDERS EQUITY (Details 7) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Equity [Abstract]
Amount realized through the resale of shares	$ 934,511	$ 559,177	$ 1,720,680	$ 1,711,353
Fair value of shares upon issuance	0	1,290,000	0	1,290,000
Other non-operating gain (loss)	$ 934,511	$ (730,823)	$ 1,720,680	$ 421,353

C. STOCKHOLDERS EQUITY (Detai_9

C. STOCKHOLDERS EQUITY (Details Narrative) - USD ($)	6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Sep. 30, 2019
Equity [Abstract]
Total compensation expense	$ 347,000	$ 511,000
Pre-paid expenses	367,000		$ 230,000
Shares to be issued	$ 165,000

D. FAIR VALUE MEASUREMENTS (Det

D. FAIR VALUE MEASUREMENTS (Details) - USD ($)	Mar. 31, 2020	Sep. 30, 2019
Derivative instruments	$ 6,224,293	$ 6,488,310
Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)
Derivative instruments	0	0
Significant Other Observable Inputs (Level 2)
Derivative instruments	0	0
Significant Unobservable Inputs (Level 3)
Derivative instruments	$ 6,224,293	$ 6,488,310

D. FAIR VALUE MEASUREMENTS (D_2

D. FAIR VALUE MEASUREMENTS (Details 1) - USD ($)	6 Months Ended	12 Months Ended
	Mar. 31, 2020	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Beginning balance	$ 6,488,310	$ 9,317,031
Issuances	0	0
Exercises	(2,546,535)	(3,589,357)
Realized and unrealized losses	2,282,518	760,636
Ending balance	$ 6,224,293	$ 6,488,310

F. COMMITMENTS AND CONTINGENC_3

F. COMMITMENTS AND CONTINGENCIES (Details)	Mar. 31, 2020USD ($)
Commitments and Contingencies Disclosure [Abstract]
Six months ending September 30, 2020	$ 946,000
2021	1,953,000
2022	2,014,000
2023	2,083,000
2024	2,148,000
2025	2,218,000
Thereafter	7,322,000
Total future minimum lease obligation	18,684,000
Less imputed interest on financing obligation	(5,585,000)
Net present value of lease financing obligation	$ 13,099,000

F. COMMITMENTS AND CONTINGENC_4

F. COMMITMENTS AND CONTINGENCIES (Details 1)	Mar. 31, 2020USD ($)
Commitments and Contingencies Disclosure [Abstract]
Six months ending September 30, 2020	$ 107,000
2021	163,000
2022	168,000
2023	173,000
2024	178,000
2025	183,000
Thereafter	269,000
Total future minimum lease obligation	1,241,000
Less imputed interest on operating lease obligation	(317,000)
Total	$ 924,000

F. COMMITMENTS AND CONTINGENC_5

F. COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Research and development expenses	$ 800,000	$ 700,000
Finance lease right of use assets	12,741,195		$ 12,741,195		$ 0
Cash paid related to finance leases			940,000
Rental income	18,000	$ 18,000	37,000	$ 36,000
Book value of operating lease - asset	899,508		899,508		$ 0
Book value of operating lease - liability	900,000		900,000
Operating lease expense	68,000		135,000
Cash paid related to operating leases	$ 66,000		$ 132,000

G. PATENTS (Details)

G. PATENTS (Details) - USD ($)	Mar. 31, 2020	Sep. 30, 2019
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Six months ending September 30, 2020	$ 26,000
2021	50,000
2022	46,000
2023	36,000
2024	28,000
2025	25,000
Thereafter	101,000
Total	$ 312,380	$ 311,586

G. PATENTS (Details Narrative)

G. PATENTS (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Patent impairment charges			$ 0	$ 0
Amortization of patent costs	$ 14,000	$ 11,000	$ 27,000	$ 23,000

H. LOSS PER COMMON SHARE (Detai

H. LOSS PER COMMON SHARE (Details) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Loss per share - basic
Net loss available to common shareholders - basic	$ (9,033,352)	$ (6,447,681)	$ (14,508,512)	$ (5,201,779)
Weighted average shares outstanding - basic	36,165,050	29,113,910	35,621,711	28,543,417
Basic loss per common share	$ (0.25)	$ (0.22)	$ (0.41)	$ (0.18)
Loss per share - diluted
Net loss available to common shareholders - basic	$ (9,033,352)	$ (6,447,681)	$ (14,508,512)	$ (5,201,779)
Gain on derivatives	0	0	0	(335,560)	[1]
Net loss available to common shareholders - diluted	$ (9,033,352)	$ (6,447,681)	$ (14,508,512)	$ (5,537,339)
Weighted average shares outstanding - basic	36,165,050	29,113,910	35,621,711	28,543,417
Incremental shares underlying dilutive "in the money" warrants	0	0	0	5,401	[1]
Weighted average shares outstanding - diluted	36,165,050	29,113,910	35,621,711	28,548,818
Diluted loss per common share	$ (0.25)	$ (0.22)	$ (0.41)	$ (0.19)
[1]	Includes shares issuable upon the exercise of the Series GG, II and KK warrants for the six months ended March 31, 2019.

H. LOSS PER COMMON SHARE (Det_2

H. LOSS PER COMMON SHARE (Details 1) - shares	6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Antidilutive securities	6,771,443	10,885,381
Options and Warrants
Antidilutive securities	6,452,645	10,576,881
Unvested Restricted Stock
Antidilutive securities	318,798	308,500