Debt (Tables)
|
9 Months Ended |
Jun. 30, 2020 |
|---|
| Debt [Abstract] |
|
| Credit Agreement |
|
|
|
|
|
|
|
|
|
June 30,
|
|
September 30,
|
|
|
2020
|
|
2019
|
|
|
|
|
|
|
|
|
Aggregate repayment obligation
|
$
|
17,650,000
|
|
$
|
17,650,000
|
|
Less: cumulative payments
|
|
(8,903,265)
|
|
|
(5,578,085)
|
|
Remaining repayment obligation
|
|
8,746,735
|
|
|
12,071,915
|
|
Less: unamortized discounts
|
|
(2,102,227)
|
|
|
(4,590,974)
|
|
Less: unamortized deferred issuance costs
|
|
(49,413)
|
|
|
(107,910)
|
|
Credit agreement, excluding embedded derivative liability, net
|
|
6,595,095
|
|
|
7,373,031
|
|
Add: embedded derivative liability at fair value (see Note 3)
|
|
4,000
|
|
|
899,000
|
|
Credit agreement, net
|
|
6,599,095
|
|
|
8,272,031
|
|
Credit agreement, short-term portion
|
|
(6,599,095)
|
|
|
(5,385,649)
|
|
Credit agreement, long-term portion
|
$
|
—
|
|
$
|
2,886,382
|
|
| Residual Royalty Agreement Liability |
|
|
|
|
|
|
|
|
|
June 30,
|
|
September 30,
|
|
|
2020
|
|
2019
|
|
|
|
|
|
|
|
|
Residual royalty agreement liability, fair value at inception
|
$
|
346,000
|
|
$
|
346,000
|
|
Add: accretion of liability using effective interest rate
|
|
1,702,353
|
|
|
773,518
|
|
Residual royalty agreement liability, excluding embedded derivative liability
|
|
2,048,353
|
|
|
1,119,518
|
|
Add: embedded derivative liability at fair value (see Note 3)
|
|
3,715,000
|
|
|
2,726,000
|
|
Total residual royalty agreement liability
|
|
5,763,353
|
|
|
3,845,518
|
|
Residual royalty agreement liability, short-term portion
|
|
(356,346)
|
|
|
—
|
|
Residual royalty agreement liability, long-term portion
|
$
|
5,407,007
|
|
$
|
3,845,518
|
|
| Credit Agreement Interest Expense |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
|
|
June 30,
|
|
June 30,
|
|
|
2020
|
|
2019
|
|
2020
|
|
2019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of discounts
|
$
|
782,169
|
|
$
|
922,144
|
|
$
|
2,488,747
|
|
$
|
3,187,972
|
|
Accretion of residual royalty agreement
|
|
369,138
|
|
|
147,223
|
|
|
928,835
|
|
|
363,520
|
|
Amortization of deferred issuance costs
|
|
18,385
|
|
|
21,909
|
|
|
58,497
|
|
|
76,479
|
|
Interest expense
|
$
|
1,169,692
|
|
$
|
1,091,276
|
|
$
|
3,476,079
|
|
$
|
3,627,971
|
|