Annual report pursuant to Section 13 and 15(d)

TERM LOAN AND CONVERTIBLE DEBENTURES (Tables)

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TERM LOAN AND CONVERTIBLE DEBENTURES (Tables)
12 Months Ended
Sep. 30, 2019
Debt Disclosure [Abstract]  
Schedule of fair value of the warrants

The fair value of the embedded conversion feature was determined utilizing a Geometric Brownian Motion Stock Path Based Monte Carlo Simulation that utilized the following key assumptions:

 

    June 21, 2019 Convertible Debenture     August 7, 2019 Convertible Debenture  
    June 21, 2019     June 30, 2019     September 30, 2019   August 7, 2019     September 30, 2019
Stock Price   $ 0.041     $ 0.041     $ 0.034     $ 0.037     $ 0.034  
Fixed Exercise Price   $ 0.050     $ 0.050     $ 0.05     $ 0.05     $ 0.05  
Volatility     148 %     150 %     135 %     144 %     135 %
Term (Years)     1.00       0.98       0.73       1.00       0.73  
Risk Free Rate     1.95 %     1.92 %     1.75 %     1.75 %     1.75 %

 

Schedule of notes payable

The Company’s Term Loan and Convertible Debentures consisted of the following as of September 30, 2019.

 

Promissory Notes Payable at September 30, 2019   Notes     Discount     Notes, Net of Discount  
Term Loan   $ 1,000,000     $     $ 1,000,000  
Convertible Debentures and Bridge Financing Notes   $ 2,727,000     $ (2,529,034 )   $ 197,966  
Total   $ 3,727,000     $ (2,529,034 )   $ 1,197,966