Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.20.4
Income Taxes (Tables)
12 Months Ended
Sep. 30, 2020
Income Taxes [Abstract]  
Schedule of income tax benefit differs from the amount of income tax determined by applying the U.S. federal income tax rate

    2020     2019  
Computed "expected" tax benefit     (21.0 )%     (21.0 )%
Increase (decrease) in income taxes resulting from:                
State taxes, net of federal benefit     (6.3 )%     (6.3 )%
Permanent differences     0.7 %     0.1 %
Increase in the valuation reserve     26.6 %     27.2 %
      0.0 %     0.0 %

Schedule of deferred tax assets and liabilities

    September 30,
2020
    September 30,
2019
 
Deferred tax assets:                
Net operating loss carryforward   $ 14,498,000     $ 10,994,000  
Stock-based compensation     915,000       1,133,000  
Other     1,507,000       1,202,000  
Valuation allowance on deferred tax assets     (16,920,000 )     (13,329,000 )
Total deferred tax assets            
Deferred tax liabilities:                
In-process research and development     (4,985,800 )     (4,985,800 )
Total deferred tax liability     (4,985,800 )     (4,985,800 )
Net deferred tax liability   $ (4,985,800 )   $ (4,985,800 )