Debt (Tables)
|
3 Months Ended |
Dec. 31, 2020 |
|---|
| Debt [Abstract] |
|
| Credit Agreement |
|
|
|
|
|
|
|
|
|
December 31,
|
|
September 30,
|
|
|
2020
|
|
2020
|
|
|
|
|
|
|
|
|
Aggregate repayment obligation
|
$
|
17,650,000
|
|
$
|
17,650,000
|
|
Less: cumulative payments
|
|
(11,410,885)
|
|
|
(10,314,495)
|
|
Remaining repayment obligation
|
|
6,239,115
|
|
|
7,335,505
|
|
Less: unamortized discounts
|
|
(886,470)
|
|
|
(1,459,330)
|
|
Less: unamortized deferred issuance costs
|
|
(20,836)
|
|
|
(34,301)
|
|
Credit agreement liability
|
$
|
5,331,809
|
|
$
|
5,841,874
|
|
| Residual Royalty Agreement Liability |
|
|
|
|
|
|
|
|
|
December 31,
|
|
September 30,
|
|
|
2020
|
|
2020
|
|
|
|
|
|
|
|
|
Residual royalty agreement liability, fair value at inception
|
$
|
346,000
|
|
$
|
346,000
|
|
Add: accretion of liability using effective interest rate
|
|
2,792,545
|
|
|
2,189,687
|
|
Residual royalty agreement liability, excluding embedded derivative liability
|
|
3,138,545
|
|
|
2,535,687
|
|
Add: embedded derivative liability at fair value (see Note 4)
|
|
4,786,000
|
|
|
4,182,000
|
|
Total residual royalty agreement liability
|
|
7,924,545
|
|
|
6,717,687
|
|
Residual royalty agreement liability, short-term portion
|
|
(1,938,817)
|
|
|
(1,100,193)
|
|
Residual royalty agreement liability, long-term portion
|
$
|
5,985,728
|
|
$
|
5,617,494
|
|
| Credit Agreement Interest Expense |
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
|
December 31,
|
|
|
2020
|
|
2019
|
|
|
|
|
|
|
|
|
Amortization of discounts
|
$
|
572,860
|
|
$
|
861,986
|
|
Accretion of residual royalty agreement
|
|
602,858
|
|
|
259,178
|
|
Amortization of deferred issuance costs
|
|
13,465
|
|
|
20,261
|
|
Interest expense
|
$
|
1,189,183
|
|
$
|
1,141,425
|
|