Annual report pursuant to Section 13 and 15(d)

Fair Value Measurement (Tables)

v3.20.4
Fair Value Measurement (Tables)
12 Months Ended
Sep. 30, 2020
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 September 30, 2020 and 2019:

 

    Quoted Prices in
Active Markets for
Identical Assets
    Significant Other
Observable
Inputs
    Significant
Unobservable
Inputs
    Total Carrying  
Description   (Level 1)     (Level 2)     (Level 3)     Value as of  
                         
Derivative Financial Instrument at 9-30-19   $     $ (3,534,456 )   $     $ (3,534,456 )
                                 
Derivative Financial Instrument at 9-30-20   $       (1,070,551 )   $     $ (1,070,551 )
Schedule of change in derivative financial instruments

The change in derivative financial instruments for the twelve months ended September 30, 2020 and 2019 is as follows:

 

September 30, 2018 balance   $ (271,710 )
Issuance of derivative financial instruments     (3,863,599 )
Change in fair value     600,853  
September 30, 2019 balance     (3,534,456 )
Issuance of derivative financial instruments     (880,462 )
Derivative instruments converted/extinguished     707,894  
Change in fair value     2,636,473  
September 30, 2020 balance   $ (1,070,551 )