Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE MEASUREMENT (Tables)

v3.19.3.a.u2
FAIR VALUE MEASUREMENT (Tables)
3 Months Ended
Dec. 31, 2019
Fair Value Disclosures [Abstract]  
Schedule of fair value on recurring basis

The following table sets forth by level within the fair value hierarchy the Company’s derivative financial instruments that were accounted for at fair value on a recurring basis as of December 31, 2019:

 

Description  

Quoted Prices in 

Active Markets for 

Identical Assets
(Level 1)

   

Significant Other 

Observable Inputs
(Level 2)

   

Significant Other 

Unobservable 

Inputs
(Level 3) 

    Total Fair
Value as of
 
Derivative Financial Instrument at September 30, 2019   $     $ (3,534,456 )   $     $ (3,534,456 )
Derivative financial instrument(1)           (715,779 )           (715,779 )
Change in fair value for the three months ended December 31, 2019             1,224,527               1,224,527  
Derivative Financial Instrument at December 31, 2019   $     $ (3,025,708 )   $     $ (3,025,708 )

 

  (1) Represents derivatives recorded resulting from the embedded conversion feature and warrants associated with the convertible debentures purchased during the three months ended December 31, 2019.