Debt (Tables)
|
12 Months Ended |
Sep. 30, 2020 |
|---|
| Debt [Abstract] |
|
| Credit Agreement |
|
|
|
|
|
|
|
|
|
2020
|
|
2019
|
|
|
|
|
|
|
|
|
Aggregate repayment obligation
|
$
|
17,650,000
|
|
$
|
17,650,000
|
|
Less: cumulative payments
|
|
(10,314,495)
|
|
|
(5,578,085)
|
|
Remaining repayment obligation
|
|
7,335,505
|
|
|
12,071,915
|
|
Less: unamortized discounts
|
|
(1,459,330)
|
|
|
(4,590,974)
|
|
Less: unamortized deferred issuance costs
|
|
(34,301)
|
|
|
(107,910)
|
|
Credit agreement, excluding embedded derivative liability, net
|
|
5,841,874
|
|
|
7,373,031
|
|
Add: embedded derivative liability at fair value (see Note 3)
|
|
—
|
|
|
899,000
|
|
Credit agreement, net
|
|
5,841,874
|
|
|
8,272,031
|
|
Credit agreement, short-term portion
|
|
(5,841,874)
|
|
|
(5,385,649)
|
|
Credit agreement, long-term portion
|
$
|
—
|
|
$
|
2,886,382
|
|
| Residual Royalty Agreement Liability |
|
|
|
|
|
|
|
|
|
2020
|
|
2019
|
|
|
|
|
|
|
|
|
Residual royalty agreement liability, fair value at inception
|
$
|
346,000
|
|
$
|
346,000
|
|
Add: accretion of liability using effective interest rate
|
|
2,189,687
|
|
|
773,518
|
|
Residual royalty agreement liability, excluding embedded derivative liability
|
|
2,535,687
|
|
|
1,119,518
|
|
Add: embedded derivative liability at fair value (see Note 3)
|
|
4,182,000
|
|
|
2,726,000
|
|
Total residual royalty agreement liability
|
|
6,717,687
|
|
|
3,845,518
|
|
Residual royalty agreement liability, short-term portion
|
|
(1,100,193)
|
|
|
—
|
|
Residual royalty agreement liability, long-term portion
|
$
|
5,617,494
|
|
$
|
3,845,518
|
|
| Credit Agreement Interest Expense |
|
|
|
|
|
|
|
|
|
2020
|
|
2019
|
|
|
|
|
|
|
|
|
Amortization of discounts
|
$
|
3,131,644
|
|
$
|
4,037,320
|
|
Accretion of residual royalty agreement
|
|
1,416,169
|
|
|
572,293
|
|
Amortization of deferred issuance costs
|
|
73,609
|
|
|
96,443
|
|
Interest expense
|
$
|
4,621,422
|
|
$
|
4,706,056
|
|