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STOCK BASED COMPENSATION
 3 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
STOCK BASED COMPENSATION

NOTE 8 – STOCK BASED COMPENSATION

 

We grant equity compensation awards to employees, directors, and contractors under the 2021 Omnibus Equity Compensation Plan (“Equity Incentive Plan”) approved by stockholders on September 13, 2021.

 

In 2022 the Company granted restricted stock units (“RSU’s”) to directors and employees with service-based vesting conditions. The restricted stock units vest over a 3-year service period.

 

 

The following table summarizes the activity for unvested RSU’s granted to directors and employees during the quarter ended December 31, 2022:

 

   Weighted Average Grant Date Fair Value   Number of RSU’s 
Outstanding Grants at September 30, 2022  $0.11    4,309,262 
Granted  $0.14    2,882,539 
Vested   —    — 
Canceled/Forfeited   —    — 
Outstanding Grants at December 31, 2022  $0.12    7,191,801 

 

We incurred stock-based compensation expense of $115,000 for the three months ended December 31, 2022. Unamortized stock compensation expense is $727,000 as of December 31, 2022.