Quarterly report pursuant to Section 13 or 15(d)

STOCK-BASED COMPENSATION

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STOCK-BASED COMPENSATION
6 Months Ended
Mar. 31, 2022
Share-based Payment Arrangement [Abstract]  
STOCK-BASED COMPENSATION

NOTE 9 – STOCK-BASED COMPENSATION 

 

Stock-based compensation cost is measured at the grant date, based on the estimated fair value of the award using the Black Scholes option pricing model, and is recognized over the vesting period. The Company recognized stock-based compensation of nil and approximately $33,000 for the three months ended March 31, 2022 and 2021, respectively. Of the $33,000 of stock compensation expense for the three months ended March 31, 2021 all was recorded as general and administrative expense. The Company recognized stock-based compensation of approximately $32,000 and approximately $33,000 for the six months ended March 31, 2022 and 2021, respectively. All of these amounts were recorded as general and administrative expense for each respective period.

 

The following table summarizes the Company’s stock option activity during the six months ended March 31, 2022:

 

    Number of Options     Weighted Average
Exercise Price
    Weighted Average
Remaining
Contractual Term
(In years)
 
Outstanding at September 30, 2021     146,000,000     $ 0.0444          
Granted                    
Exercised                    
Cancelled                    
Outstanding at March 31, 2022     146,000,000     $ 0.0444       3.3  
Vested and expected to vest     146,000,000     $ 0.0444       3.3  
Exercisable at March 31, 2022     146,000,000     $ 0.0444       3.3  

 

As of March 31, 2022, there were no unrecognized stock-based compensation expense.