Debt (Tables)
|
9 Months Ended |
Jun. 30, 2019 |
|---|
| Debt [Abstract] |
|
| Credit Agreement |
|
|
|
|
|
|
|
|
|
June 30,
|
|
September 30,
|
|
|
2019
|
|
2018
|
|
|
|
|
|
|
|
|
Aggregate repayment obligation
|
$
|
17,650,000
|
|
$
|
17,500,000
|
|
Less: Cumulative payments
|
|
(4,689,692)
|
|
|
(642,485)
|
|
Less: Unamortized discounts
|
|
(5,440,322)
|
|
|
(8,475,874)
|
|
Less: Unamortized deferred issuance costs
|
|
(127,874)
|
|
|
(204,353)
|
|
Credit agreement, net
|
|
7,392,112
|
|
|
8,177,288
|
|
Add: Embedded derivative liability at fair value (see Note 3)
|
|
1,758,000
|
|
|
1,217,000
|
|
|
|
9,150,112
|
|
|
9,394,288
|
|
Credit agreement, short-term portion
|
|
(4,660,572)
|
|
|
(6,692,718)
|
|
Credit agreement, long-term portion
|
$
|
4,489,540
|
|
$
|
2,701,570
|
|
|
|
|
|
|
|
|
| Residual Royalty Agreement Liability |
|
|
|
|
|
|
|
|
|
June 30,
|
|
September 30,
|
|
|
2019
|
|
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
|
|
564,745
|
|
|
201,225
|
|
Residual Royalty Agreement liability, net
|
|
910,745
|
|
|
544,805
|
|
Add: Embedded derivative liability at fair value (see Note 3)
|
|
914,000
|
|
|
1,209,000
|
|
Residual Royalty Agreement liability
|
$
|
1,824,745
|
|
$
|
1,753,805
|
|
| Credit Agreement Interest Expense |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
|
|
June 30,
|
|
June 30,
|
|
|
2019
|
|
2018
|
|
2019
|
|
2018
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of Credit Agreement and Residual Royalty Agreement discounts
|
$
|
922,144
|
|
$
|
1,255,062
|
|
$
|
3,187,972
|
|
$
|
1,572,809
|
|
Accretion of Residual Royalty Agreement liability
|
|
147,223
|
|
|
94,858
|
|
|
363,520
|
|
|
122,136
|
|
Amortization of deferred issuance costs
|
|
21,909
|
|
|
30,202
|
|
|
76,479
|
|
|
35,772
|
|
|
$
|
1,091,276
|
|
$
|
1,380,122
|
|
$
|
3,627,971
|
|
$
|
1,730,717
|
|