Annual report pursuant to Section 13 and 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.19.3.a.u2
STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Sep. 30, 2019
Share-based Payment Arrangement [Abstract]  
Schedule of fair value assumptions for stock-options

The weighted-average fair values of stock options granted for the years ended September 30, 2019 and 2018 were based on the following assumptions at the date of grant as follows:

  

Date of Grant   May 1, 2018     June 1, 2018     January 2, 2019  
Number of Stock Options Granted     500,000       67,500,000       1,000,000  
Stock Price   $ 0.065     $ 0.075     $ 0.045  
Exercise Price   $ 0.065     $ 0.075     $ 0.045  
Expected Life of Options     4.25 years       4.25 years       3.75 years  
Risk Free Rate     2.74 %     2.675 %     2.51 %
Volatility     145.21 %     145.21 %     126.37 %
Schedule for summary of stock options activity

The following table summarizes the Company’s stock option activity during the year ended September 30, 2019:

 

    Number
of Options
    Weighted
Average
Exercise Price
    Weighted Average
Remaining
Contractual Term
(In years)
 
Outstanding at September 30, 2018     103,500,000     $ 0.0605          
Granted     1,000,000       0.0450          
Exercised                    
Cancelled                    
Outstanding at September 30, 2019     104,500,000     $ 0.0604       5.13  
Vested and expected to vest     104,500,000     $ 0.0604       5.13  
Exercisable at September 30, 2019     79,500,000     $ 0.0552       5.13