Debt (Tables)
|
6 Months Ended |
Mar. 31, 2019 |
|---|
| Debt [Abstract] |
|
| Credit Agreement |
|
|
|
|
|
|
|
|
|
March 31,
2019
|
|
September 30,
2018
|
|
|
|
|
|
|
|
|
Aggregate repayment obligation
|
$
|
17,500,000
|
|
$
|
17,500,000
|
|
Less: Cumulative payments
|
|
(3,834,202)
|
|
|
(642,485)
|
|
Less: Unamortized discounts
|
|
(6,212,466)
|
|
|
(8,475,874)
|
|
Less: Unamortized deferred issuance costs
|
|
(149,783)
|
|
|
(204,353)
|
|
Credit agreement, net
|
|
7,303,549
|
|
|
8,177,288
|
|
Add: Embedded derivative liability at fair value (see Note 3)
|
|
1,251,000
|
|
|
1,217,000
|
|
|
|
8,554,549
|
|
|
9,394,288
|
|
Credit agreement, short-term portion
|
|
(5,836,615)
|
|
|
(6,692,718)
|
|
Credit agreement, long-term portion
|
$
|
2,717,934
|
|
$
|
2,701,570
|
|
|
|
|
|
|
|
|
| Residual Royalty Agreement Liability |
|
|
|
|
|
|
|
|
|
March 31,
2019
|
|
September 30,
2018
|
|
|
|
|
|
|
|
|
Residual Royalty Agreement liability, fair value at inception
|
$
|
346,000
|
|
$
|
346,000
|
|
Less: Unamortized discounts
|
|
—
|
|
|
(2,420)
|
|
Add: Accretion of liability using effective interest rate
|
|
417,522
|
|
|
201,225
|
|
Residual Royalty Agreement liability, net
|
|
763,522
|
|
|
544,805
|
|
Add: Embedded derivative liability at fair value (see Note 3)
|
|
1,578,000
|
|
|
1,209,000
|
|
Residual Royalty Agreement liability
|
$
|
2,341,522
|
|
$
|
1,753,805
|
|
|
|
|
|
|
|
|
| Credit Agreement Interest Expense |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
March 31,
|
|
Six Months Ended
March 31,
|
|
|
2019
|
|
2018
|
|
2019
|
|
2018
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of Credit Agreement and Residual Royalty Agreement discounts
|
$
|
1,107,622
|
|
$
|
317,747
|
|
$
|
2,265,828
|
|
$
|
317,747
|
|
Accretion of Residual Royalty Agreement liability
|
|
123,946
|
|
|
27,278
|
|
|
216,297
|
|
|
27,278
|
|
Amortization of deferred issuance costs
|
|
26,704
|
|
|
5,570
|
|
|
54,570
|
|
|
5,570
|
|
|
$
|
1,258,272
|
|
$
|
350,595
|
|
$
|
2,536,695
|
|
$
|
350,595
|
|