Income Taxes (Tables)
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12 Months Ended |
Sep. 30, 2020 |
|---|
| Income Taxes [Abstract] |
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| Schedule of Income Before Income Taxes by Jurisdictions |
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|
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|
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2020
|
|
2019
|
|
|
|
|
|
|
|
|
Domestic
|
$
|
(20,008,999)
|
|
$
|
(12,838,076)
|
|
Foreign
|
|
(42,977)
|
|
|
516,777
|
|
Total
|
$
|
(20,051,976)
|
|
$
|
(12,321,299)
|
|
| Reconciliation of Income Tax Expense (Benefit) |
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2020
|
|
2019
|
|
|
Amount
|
|
Tax Rate
|
|
Amount
|
|
Tax Rate
|
|
Income tax benefit at U.S. federal statutory rates
|
$
|
(4,210,916)
|
|
21.0
|
%
|
|
$
|
(2,587,472)
|
|
21.0
|
%
|
|
State income tax benefit, net of federal benefits
|
|
(326,045)
|
|
1.6
|
|
|
|
(200,385)
|
|
1.6
|
|
|
Effect of change in U.K. tax rate
|
|
(1,337,263)
|
|
6.7
|
|
|
|
—
|
|
—
|
|
|
Non-deductible expenses – other
|
|
114,699
|
|
(0.6)
|
|
|
|
8,171
|
|
(0.1)
|
|
|
Effect of foreign income tax rates
|
|
238,645
|
|
(1.2)
|
|
|
|
67,637
|
|
(0.5)
|
|
|
Effect of global intangible low-taxed income
|
|
143,219
|
|
(0.7)
|
|
|
|
99,514
|
|
(0.8)
|
|
|
Effect of change in state tax rate
|
|
—
|
|
—
|
|
|
|
57,981
|
|
(0.5)
|
|
|
Other
|
|
54,689
|
|
(0.2)
|
|
|
|
51,490
|
|
(0.4)
|
|
|
Change in valuation allowance
|
|
4,244,531
|
|
(21.2)
|
|
|
|
2,199,131
|
|
(17.8)
|
|
|
Income tax benefit
|
$
|
(1,078,441)
|
|
5.4
|
%
|
|
$
|
(303,933)
|
|
2.5
|
%
|
|
| Summary of Federal and State Income Tax Provision (Benefit) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2020
|
|
2019
|
|
|
|
|
|
|
|
|
Deferred – U.S.
|
$
|
(229,313)
|
|
$
|
(552,018)
|
|
Deferred – U.K.
|
|
(1,033,131)
|
|
|
76,246
|
|
Deferred – Malaysia
|
|
7,432
|
|
|
37,708
|
|
Subtotal
|
|
(1,255,012)
|
|
|
(438,064)
|
|
|
|
|
|
|
|
|
Current – U.S.
|
|
(10,484)
|
|
|
(2,728)
|
|
Current – Malaysia
|
|
187,055
|
|
|
136,859
|
|
Subtotal
|
|
176,571
|
|
|
134,131
|
|
|
|
|
|
|
|
|
Income tax benefit
|
$
|
(1,078,441)
|
|
$
|
(303,933)
|
|
| Significant Components of Deferred Tax Assets and Liabilities |
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2020
|
|
2019
|
|
Deferred tax assets:
|
|
|
|
|
Federal net operating loss carryforwards
|
$
|
8,759,589
|
|
$
|
8,971,569
|
|
State net operating loss carryforwards
|
|
1,682,104
|
|
|
1,689,536
|
|
AMT credit carryforward
|
|
—
|
|
|
35,180
|
|
Foreign net operating loss carryforwards – U.K.
|
|
11,655,853
|
|
|
10,486,476
|
|
Foreign capital allowance – U.K.
|
|
113,522
|
|
|
103,400
|
|
U.K. bad debts
|
|
1,900
|
|
|
1,700
|
|
Share-based compensation – U.K.
|
|
91,839
|
|
|
49,081
|
|
U.S. deferred rent
|
|
40,236
|
|
|
43,558
|
|
Share-based compensation
|
|
1,255,983
|
|
|
804,378
|
|
Interest expense
|
|
850,248
|
|
|
—
|
|
Other, net – U.S.
|
|
334,706
|
|
|
356,026
|
|
Gross deferred tax assets
|
|
24,785,980
|
|
|
22,540,904
|
|
Valuation allowance for deferred tax assets
|
|
(14,074,740)
|
|
|
(9,830,209)
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|
Net deferred tax assets
|
|
10,711,240
|
|
|
12,710,695
|
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Deferred tax liabilities:
|
|
|
|
|
|
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In process research and development
|
|
(882,427)
|
|
|
(4,072,740)
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Developed technology
|
|
(369,237)
|
|
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(424,657)
|
|
Covenant not-to-compete
|
|
(49,832)
|
|
|
(65,993)
|
|
Other, net – Malaysia
|
|
(11,297)
|
|
|
(3,865)
|
|
Other
|
|
(6,371)
|
|
|
(6,376)
|
|
Net deferred tax liabilities
|
|
(1,319,164)
|
|
|
(4,573,631)
|
|
Net deferred tax asset
|
$
|
9,392,076
|
|
$
|
8,137,064
|
|
| Schedule of Deferred Tax Amounts Classified in Balance Sheets |
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|
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2020
|
|
2019
|
|
|
|
|
|
|
|
|
Long-term deferred tax asset – U.K.
|
$
|
9,466,800
|
|
$
|
8,433,669
|
|
Total long-term deferred tax asset
|
$
|
9,466,800
|
|
$
|
8,433,669
|
|
|
|
|
|
|
|
|
Long-term deferred tax liability – U.S.
|
$
|
(63,427)
|
|
$
|
(292,740)
|
|
Long-term deferred tax liability – Malaysia
|
|
(11,297)
|
|
|
(3,865)
|
|
Total long-term deferred tax liability
|
$
|
(74,724)
|
|
$
|
(296,605)
|
|