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Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Mar. 31, 2020	May 13, 2020
Document And Entity Information
Entity Registrant Name	Edesa Biotech, Inc.
Entity Central Index Key	0001540159
Document Type	10-Q
Document Period End Date	Mar. 31, 2020
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Is Entity's Reporting Status Current?	Yes
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	A1
Entity File Number	001-37619
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	true
Entity Small Business	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		8,859,159
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2020

Consolidated Balance Sheets - USD ($)	Mar. 31, 2020	Sep. 30, 2019
Current assets:
Cash and cash equivalents	$ 6,989,930	$ 5,030,583
Accounts and other receivable	84,091	217,101
Prepaid expenses and deposits	352,001	397,022
Total current assets	7,426,022	5,644,706
Property, plant and equipment, net	25,110	73,058
Operating lease right-of-use assets	181,492	0
Total assets	7,632,624	5,717,764
Current liabilities:
Accounts payable and accrued liabilities	516,242	461,634
Short-term operating lease liabilities	62,696	0
Total current liabilities	578,938	461,634
Non-current liabilities:
Long-term operating lease liabilities	122,743	0
Total liabilities	701,681	461,634
Commitments (Note 6)
Shareholders' equity:
Authorized unlimited common and preferred shares without par value issued and outstanding: 8,859,159 common shares (2019 - 7,504,468)	14,732,674	12,005,051
Additional paid-in capital	1,880,721	327,768
Accumulated other comprehensive loss	(363,868)	(342,074)
Accumulated deficit	(9,318,584)	(6,734,615)
Total shareholders' equity	6,930,943	5,256,130
Total liabilities and shareholders' equity	$ 7,632,624	$ 5,717,764

Consolidated Balance Sheets (Parenthetical) - $ / shares	6 Months Ended	12 Months Ended
	Mar. 31, 2020	Sep. 30, 2019
Statement of Financial Position [Abstract]
Capital shares, par value	$ 0	$ 0
Capital shares, authorized	Unlimited	Unlimited
Capital shares, issued	8,859,159	7,504,468
Capital shares, outstanding	8,859,159	7,504,468
Preferred stock shares, issued	0	0
Preferred stock shares, outstanding	0	0

Consolidated Statements of Operations and Comprehensive Loss - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Revenues:
Product sales and services	$ 110,516	$ 0	$ 218,316	$ 0
Expenses:
Cost of sales	10,037	0	13,815	0
Research and development	502,814	111,702	1,030,812	369,093
General and administrative	1,113,917	429,076	1,795,623	577,426
Total expenses	1,626,768	540,778	2,840,250	946,519
Loss from operations	(1,516,252)	(540,778)	(2,621,934)	(946,519)
Other income (loss):
Interest income	18,771	15,920	32,963	32,131
Foreign exchange gain (loss)	7,845	(3,972)	5,802	20,709
Total other income (loss)	26,616	11,948	38,765	52,840
Loss before income taxes	(1,489,636)	(528,830)	(2,583,169)	(893,679)
Income tax expense	0	0	800	0
Net loss	(1,489,636)	(528,830)	(2,583,969)	(893,679)
Exchange differences on translation	(39,903)	73,253	(21,794)	91,013
Net loss and comprehensive loss	$ (1,529,544)	$ (455,577)	$ (2,605,763)	$ (802,666)
Weighted average number of common shares	8,740,065	3,239,902	8,118,891	3,239,902
Loss per share - basic and diluted	$ (.17)	$ (0.16)	$ (.32)	$ (0.28)

Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities:
Net loss	$ (2,583,969)	$ (893,679)
Adjustments for:
Depreciation	5,054	916
Straight-line operating lease expense	38,571	0
Share-based compensation	388,775	24,880
Change in working capital items:
Accounts and other receivable	127,146	(16,357)
Prepaid expenses and other assets	27,030	(8,720)
Accounts payable and accrued liabilities	75,806	111,732
Operating lease liabilities	(38,572)	0
Net cash used in operating activities	(1,960,159)	(781,228)
Cash flows from investing activities:
Proceeds on sales of property and equipment	43,184	0
Purchase of property and equipment	(825)	(1,504)
Purchase of short-term investments	(500,000)	0
Maturities of short-term investments	500,000	0
Net cash provided by (used in) investing activities	42,359	(1,504)
Cash flows from financing activities:
Proceeds from issuance of common shares and warrants	4,360,500	0
Payments for issuance costs	(468,699)	0
Net cash provided by financing activities	3,891,801	0
Effect of exchange rate changes on cash and cash equivalents	(14,654)	94,643
Net change in cash and cash equivalents	1,959,347	(688,089)
Cash and cash equivalents, beginning of period or year	5,030,583	3,730,230
Cash and cash equivalents, end of period or year	6,989,930	3,042,141
Supplemental disclosure of non-cash financing activities
Fair value of placement agent warrants	$ 18,051	$ 0

Consolidated Statements of Changes in Shareholders' Equity - USD ($)	Common Shares	Common Shares Subscribed	Class A Preferred Shares	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit	Total
Beginning balance, shares at Sep. 30, 2018	3,239,902
Beginning balance, amount at Sep. 30, 2018	$ 1,111,253	$ 0	$ 5,945,520	$ 219,358	$ (447,733)	$ (3,278,253)	$ 3,550,145
Preferred return for Class A preferred shares			231,473			(231,473)
Share-based compensation				24,880			24,880
Net loss and comprehensive loss					91,013	(893,679)	(802,666)
Ending balance, shares at Mar. 31, 2019	(3,239,902)
Ending balance, amount at Mar. 31, 2019	$ (1,111,253)	0	$ 6,176,993	244,238	(356,720)	(4,403,405)	2,772,359
Beginning balance, shares at Dec. 31, 2018	3,239,902		1,007,143
Beginning balance, amount at Dec. 31, 2018	$ 1,111,253		$ 6,064,013	230,792	(429,973)	(3,761,595)	3,214,490
Preferred return for Class A preferred shares			112,980			(112,980)
Share-based compensation				13,446			13,446
Net loss and comprehensive loss					73,253	(528,830)	(455,577)
Ending balance, shares at Mar. 31, 2019	(3,239,902)
Ending balance, amount at Mar. 31, 2019	$ (1,111,253)	0	$ 6,176,993	244,238	(356,720)	(4,403,405)	2,772,359
Beginning balance, shares at Dec. 31, 2018	3,239,902		1,007,143
Beginning balance, amount at Dec. 31, 2018	$ 1,111,253		$ 6,064,013	230,792	(429,973)	(3,761,595)	3,214,490
Preferred return for Class A preferred shares			$ 196,286
Ending balance, shares at Sep. 30, 2019	7,504,468		0
Ending balance, amount at Sep. 30, 2019	$ 12,005,051	0	$ 0	327,768	(342,074)	(6,734,615)	5,256,130
Issuance of common shares and warrants in equity offering, shares	1,354,691
Issuance of common shares and warrants in equity offering, amount	$ 3,070,358			1,290,142			4,360,500
Issuance costs	$ (342,735)			(125,964)			(468,699)
Share-based compensation				388,775			388,775
Net loss and comprehensive loss					(21,794)	(2,583,969)	(2,605,763)
Ending balance, shares at Mar. 31, 2020	(8,859,159)		0
Ending balance, amount at Mar. 31, 2020	$ 14,732,674		$ 0	1,880,721	(363,868)	(9,318,584)	6,930,943
Beginning balance, shares at Dec. 31, 2019	7,504,468
Beginning balance, amount at Dec. 31, 2019	$ 12,005,051	45,000		336,543	(323,960)	(7,828,948)	4,233,686
Issuance of common shares and warrants in equity offering, shares	1,354,691
Issuance of common shares and warrants in equity offering, amount	$ 3,070,358	(45,000)		1,290,142			4,315,500
Issuance costs	$ (342,735)			(125,964)			(468,699)
Share-based compensation				380,000			380,000
Net loss and comprehensive loss					(39,908)	(1,489,636)	(1,529,544)
Ending balance, shares at Mar. 31, 2020	(8,859,159)		0
Ending balance, amount at Mar. 31, 2020	$ 14,732,674		$ 0	$ 1,880,721	$ (363,868)	$ (9,318,584)	$ 6,930,943

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References + Details

Nature of Operations

6 Months Ended

Mar. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Nature of Operations

Edesa Biotech, Inc. (the “Company” or “Edesa”) is a biopharmaceutical company focused on acquiring, developing and commercializing clinical stage drugs for dermatological and gastrointestinal indications with clear unmet medical needs. The Company is organized under the laws of British Columbia, Canada and is headquartered in Markham, Ontario.

In June 2019, the Company changed its name from Stellar Biotechnologies, Inc. to Edesa Biotech, Inc. following a reverse acquisition with Edesa Biotech Research, Inc., formerly known as Edesa Biotech Inc., a company organized under the laws of the province of Ontario. At the closing of the transaction, which occurred on June 7, 2019, the Company acquired the entire issued share capital of Edesa Biotech Research, Inc., with Edesa Biotech Research, Inc., becoming a wholly-owned subsidiary of the Company. Also, on June 7, 2019, in connection with and following the completion of the reverse acquisition, the Company effected a 1-for-6 reverse split of its common shares. Upon the completion of the reverse acquisition, Edesa Biotech Research, Inc. changed its fiscal year end from December 31 to September 30 to align with the Company’s fiscal year end.

The Company’s common shares trade on The Nasdaq Capital Market in the United States under the symbol “EDSA”.

Basis of Preparation

6 Months Ended

Mar. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Preparation

The accompanying unaudited condensed interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP) for interim financial information and with the instructions to Form 10-Q. They do not include all information and footnotes necessary for a fair presentation of financial position, results of operations and cash flows in conformity with U.S. GAAP for complete financial statements. These condensed interim consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes contained in the Company’s Annual Transition Report on Form 10-KT for the nine-month period ended September 30, 2019, which were filed with the Securities and Exchange Commission (SEC) on December 12, 2019.

The accompanying condensed interim consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries, Edesa Biotech Research, Inc., an Ontario corporation, and Stellar Biotechnologies, Inc., a California corporation. All intercompany balances and transactions have been eliminated in consolidation. All adjustments (consisting of normal recurring adjustments and accruals) considered necessary for a fair presentation of the results of operations for the periods presented have been included in the interim periods. Operating results for the six months ended March 31, 2020 are not necessarily indicative of the results that may be expected for other interim periods or the fiscal year ending September 30, 2020.

The preparation of the unaudited condensed interim consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed interim consolidated financial statements and the reported amounts of revenue and expenses during the period. Actual results could differ from those estimates.

Functional and reporting currencies

The condensed interim consolidated financial statements of the Company are presented in U.S. dollars, unless otherwise stated, which is the Company’s and its wholly-owned subsidiary’s, Stellar Biotechnologies, Inc., functional currency. The functional currency of the Company’s wholly-owned subsidiary, Edesa Biotech Research, Inc., as determined by management, is Canadian dollars.

Adoption of recent accounting pronouncements

On October 1, 2019, the Company adopted Accounting Standards Codification (ASC) Topic 842 Leases using the modified retrospective transition method, applying the new standard to all leases existing at the date of initial application. In addition, the Company elected the package of practical expedients in transition, which permitted the Company not to reassess prior conclusions about lease identification, lease classification and initial direct costs on leases that commenced prior to adoption of the new standard. The Company also elected the ongoing practical expedient not to recognize operating lease right-of-use assets and operating lease liabilities for short-term leases. As a result of adopting the new standard, the Company recognized operating lease right-of-use (“ROU”) assets of approximately $234,000 and operating lease liabilities of approximately $234,000 on the balance sheet for one operating lease with a term longer than 12 months at adoption. There was no impact to opening accumulated deficit. The Company has 3 short-term operating leases that do not follow the ROU model.

Short-term Investments

6 Months Ended

Mar. 31, 2020

Short-term Investments [Abstract]

Short-term Investments

The Company held short-term investments in U.S. Treasury Bills during the three and six months ended March 31, 2020. No amounts were outstanding at March 31, 2020 or September 30, 2019.

U.S. Treasury Bills were carried at amortized cost which approximates fair value and classified as held-to-maturity investments.

Property and Equipment

6 Months Ended

Mar. 31, 2020

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment, net consisted of the following:

	March 31, 2020			September 30, 2019

Computer equipment	$	43,169		$	42,910
Furniture and equipment		7,555			7,932

		50,724			50,842
Less: accumulated depreciation		(33,840	)		(29,194	)

Depreciable assets, net	$	16,884		$	21,648

Assets not in service		8,226			51,410

Total property and equipment, net	$	25,110		$	73,058

Assets not in service represent equipment for sale held on consignment by a third party.

Depreciation expense amounted to $5,054 and $916 for the six months ended March 31, 2020 and 2019, respectively, and $2,651 and $504 for the three months ended March 31, 2020 and 2019, respectively.

Leases

6 Months Ended

Mar. 31, 2020

Leases [Abstract]

Leases

Related party operating lease

The Company leases facilities used for executive offices from a related company for a six-year term through December 2022, with an option to renew for an additional two-year term. The option period is not included in the operating lease right-of-use assets and liabilities.

The gross amounts of assets and liabilities related to operating leases are as follows:

	Balance Sheet Caption	March 31, 2020
Assets:
Operating lease assets	Operating lease right-of-use assets	$	181,492

Liabilities:
Current:
Operating lease liabilities	Short-term operating lease liabilities	$	62,696
Long-term:
Operating lease liabilities	Long-term operating lease liabilities		122,743

Total lease liabilities		$	185,439

The components of lease cost are as follows:

	Statements of Operations Caption	Three Months Ended March 31, 2020		Six Months Ended March 31, 2020
Operating lease cost	General and administrative	$	19,131	$	38,571

Lease terms and discount rates are as follows:

	March 31, 2020
Remaining lease term (months):		33
Estimated incremental borrowing rate:		6.5	%

The approximate future minimum lease payments under the operating leases at March 31, 2020 are as follows:

Year Ending
September 30, 2020	$	36,211
September 30, 2021		73,900
September 30, 2022		74,393
September 30, 2023		18,598

Total lease payment		203,102
Less imputed interest		17,663

Present value of lease liabilities		185,439
Less current installments		62,696

Long-term lease liabilities excluding current installments	$	122,743

Cash flow information is as follows:

	Statement of Cash Flows Caption	Six Months Ended March 31, 2020
Cash paid for amounts included in the measurement of lease liabilities	Operating lease liabilities	$	38,572

Other operating leases

The Company also leases facilities through its California subsidiary under three operating leases that expire in June and September 2020. The Company does not intend to exercise options to extend these leases. Future minimum lease payments during the year ending September 30, 2020 are approximately $85,000. Total rent under these leases included in general and administrative expenses was $109,847 for the six months ended March 31, 2020, and $55,068 for the three months ended March 31, 2020, respectively. There was no rent under these leases during the three and six months ended March 31, 2019 prior to the completion of the reverse acquisition on June 7, 2019.

Commitments

6 Months Ended

Mar. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Commitments

Research and other commitments

The Company contracted research organizations who perform clinical trials for the Company’s on-going clinical studies and other service providers. Aggregate future contractual payments to those service organizations at March 31, 2020 are as follows:

Year Ending
September 30, 2020	$	1,724,000
September 30, 2021		41,000
September 30, 2022		19,000

	$	1,784,000

License and royalty commitments

In 2016, through its Ontario subsidiary, the Company entered into a license agreement with a third party to obtain exclusive rights to certain know-how, patents and data relating to a pharmaceutical product. The Company will use the exclusive rights to develop the product for therapeutic, prophylactic and diagnostic uses in topical dermal applications and anorectal applications. No intangible assets have been recognized under the license agreement with the third party as of March 31, 2020 and September 30, 2019. Under the license agreement, the Company is committed to payments of various amounts to the third party upon meeting certain milestones outlined in the license agreement, up to an aggregate amount of $18.6 million. Upon divestiture of substantially all of the assets of the Company, the Company shall pay the third party a percentage of the valuation of the licensed technology sold as determined by an external objective expert. The Company also has a commitment to pay the third party a royalty based on net sales of the product in countries where the Company, or an affiliate, directly commercializes the product and a percentage of sublicensing revenue received by the Company and its affiliates in the countries where it does not directly commercialize the product. No license or royalty payments were made to the third party during the three and six months ended March 31, 2020 and 2019.

In 2016, also through its Ontario subsidiary, the Company entered into an exclusive license agreement with another third party to obtain exclusive rights to certain know-how, patents and data relating to a pharmaceutical product. No intangible assets have been recognized under the license agreement as of March 31, 2020 and September 30, 2019. Under the license agreement, the Company is committed to payments of up to a total of $18.5 million upon meeting certain milestones outlined in the license agreement. The Company also has a commitment to pay a royalty based on net sales of the product in the countries where the Company directly commercializes the product and a percentage of sublicensing revenue received by the Company and its affiliates in the countries where it does not directly commercialize the product. No license or royalty payments were made to the third party during the three and six months ended March 31, 2020 and 2019.

Related party royalty commitments

On August 14, 2002, through its California subsidiary, the Company entered into a patent royalty agreement with a director of the Company, whereby he would receive royalty payments in exchange for assignment of his patent rights to the Company. The royalty is 5% of gross receipts from products using this invention in excess of $500,000 annually.

Retirement savings plan 401(k) contributions

Executive officers and employees of the California subsidiary are eligible to receive the Company’s non-elective safe harbor employer contribution of 3% of eligible compensation under a 401(k) plan to provide retirement benefits. Employees are 100% vested in employer contributions and in any voluntary employee contributions. Contributions to the 401(k) plan were $4,535 during the six months ended March 31, 2020, and $2,979 during the three months ended March 31, 2020, respectively. There are no 401(k) contributions during the three and six months ended March 31, 2019 prior to the completion of the reverse acquisition on June 7, 2019.

Capital Shares

6 Months Ended

Mar. 31, 2020

Stockholders' Equity Note [Abstract]

Capital Shares

Reverse Share Split

On June 7, 2019, the Company effected a reverse split of the Company's common shares at a ratio of 1-for-6. As a result of the reverse split, every six shares of the issued and outstanding common shares, without par value, consolidated into one newly issued outstanding common share, without par value, after fractional rounding. All shares and exercise prices are presented on a post-split basis in these condensed interim consolidated financial statements.

Equity Offering

On January 8, 2020, the Company closed a registered direct offering of 1,354,691 common shares, no par value and a concurrent private placement of Class A Purchase Warrants to purchase an aggregate of up to 1,016,036 common shares and Class B Purchase Warrants to purchase an aggregate of up to 677,358 common shares. Gross proceeds from the offering amounted to $4,360,500.

The Class A Purchase Warrants are exercisable on or after July 8, 2020, at an exercise price of $4.80 per share and will expire on July 8, 2023. The Class B Purchase Warrants are exercisable on or after July 8, 2020, at an exercise price of $4.00 per share and will expire on November 8, 2020. In connection with the offering, the Company also issued warrants to purchase an aggregate of 12,364 common shares to certain affiliated designees of the placement agent as part of the placement agent’s compensation. The placement agent warrants are exercisable on or after July 6, 2020, at an exercise price of $3.20 per share, and will expire on January 6, 2025.

The warrants are considered contracts on the Company’s own shares and are classified as equity. The Company allocated gross proceeds with $3,070,358 as the value of common shares and $1,008,743 as the value of Class A Purchase Warrants and $281,399 as the value of Class B Purchase Warrants under additional paid-in capital in the condensed interim consolidated statements of changes in shareholders’ equity on a relative fair value basis.

The direct costs related to the issuance of the common shares and warrants were $468,699. These direct costs were recorded as an offset against gross proceeds with $330,025 being recorded under common shares and $138,674 being recorded under additional paid-in capital on a relative fair value basis. The Company also recorded the fair value of placement agent warrants in the amount of $18,051 as share based compensation to nonemployees under additional paid-in capital and an offset against gross proceeds with $12,710 being recorded under common shares and $5,341 being recorded under additional paid-in capital on a relative fair value basis.

Black-Scholes option valuation model

The Company uses the Black-Scholes option valuation model to determine the fair value of share-based compensation for share options and compensation warrants granted and the fair value of warrants issued. Option valuation models require the input of highly subjective assumptions including the expected price volatility. The Company calculates expected volatility based on historical volatility of the Company’s share price. When there is insufficient data available, the Company uses a peer group that is publicly traded to calculate expected volatility. Changes in the subjective input assumptions can materially affect the fair value estimates, and therefore the existing models do not necessarily provide a reliable single measure of the fair value of the Company’s warrants and share options.

Warrants

A summary of the Company’s warrants activity is as follows:

	Number of Warrants (#)			Weighted Average Exercise Price
Balance – December 31, 2018		-		$	-

Effect of reverse acquisition		362,430			31.60
Black-Scholes value payout		(313,516	)		33.01

Balance – September 30, 2019		48,914		$	11.19

Issued		1,705,758			4.47

Balance – March 31, 2020		1,754,672		$	4.66

The weighted average contractual life remaining on the outstanding warrants at March 31, 2020 is 27 months.

The following table summarizes information about the warrants outstanding at March 31, 2020:

Number of Warrants (#)		Exercise Prices		Expiry Dates
	677,358	$	4.00	November 2020
	28,124		15.90	May 2023
	1,016,036		4.80	July 2023
	20,790		4.81	June 2024
	12,364		3.20	January 2025
	1,754,672

The fair value of warrants issued during the three and six months ended March 31, 2020 was estimated using the Black-Scholes option valuation model using the following assumptions:

	Class A warrants	Class B warrants	Placement agent warrants

Risk free interest rate	1.61%	1.55%	1.61%
Expected life	3.5 years	0.83 years	5 years
Expected share price volatility	103.81%	134.15%	101.89%
Expected dividend yield	0.00%	0.00%	0.00%

There were no warrants issued in the three and six months ended March 31, 2019.

Share Options

The Company adopted an Equity Incentive Compensation Plan in 2019 (the 2019 Plan) administered by the Board of Directors, which amended and restated the 2017 Incentive Compensation Plan (the 2017 Plan). Options, restricted shares and restricted share units are eligible for grant under the 2019 Plan. The number of shares available for issuance under the 2019 Plan is 1,153,147, including shares available for the exercise of outstanding options under the 2017 Plan. Option holders under Edesa Biotech Research, Inc.’s option plan received substitute options under the Company’s incentive plan upon completion of the reverse acquisition.

The Company's 2019 Plan allows options to be granted to directors, officers, employees and certain external consultants and advisers. Under the 2019 Plan, the option term is not to exceed 10 years and the exercise price of each option is determined by the independent members of the Board of Directors.

Options have been granted under the 2019 Plan allowing the holders to purchase common shares of the Company as follows:

	Number of Options (#)			Weighted Average Exercise Price
Balance – December 31, 2018		315,123		$	1.65

Effect of reverse acquisition		7,787			124.80
Expired		(3,265	)		125.75

Balance – September 30, 2019		319,645		$	3.39

Granted		352,365			3.16
Expired		(119	)		74.09

Balance – March 31, 2020		671,891		$	3.19

On February 12, 2020, the independent directors of the Board of Directors granted a total of 352,365 options to directors, officers and employees of the Company pursuant to the 2019 Plan. The options have a term of 10 years with 33% vesting on the grant date, with a pro rata amount of the balance vesting monthly for the next 36 months and an exercise price equal to the Nasdaq closing price on the grant date.

The weighted average contractual life remaining on the outstanding options at March 31, 2020 is 105 months.

The following table summarizes information about the options under the Incentive Plan outstanding and exercisable at March 31, 2020:

Number of Options (#)		Exercisable at March 31, 2020 (#)		Range of Exercise Prices		Expiry Dates
	214		214	C$	243.60	May 2020
	238		238	$	768.60	Nov 2020
	214		214	C$	638.40	Nov 2021
	238		238	$	304.08	Dec 2022
	3,499		3,499	$	35.28 - 93.24	Sep 2023-Mar 2025
	315,123		274,448	C$	2.16	Aug 2027-Dec 2028
	352,365		122,836	$	3.16	Feb 2030
	671,891		401,687

The fair value of options granted during the six months ended March 31, 2020 and 2019 was estimated using the Black-Scholes Option Pricing Model using the following assumptions:

	Six-Months Ended		Six-Months Ended
	March 31, 2020		March 31, 2019

Risk free interest rate		1.45%		1.98%
Expected life (years)		5 years		4 years
Expected share price volatility		104.14%		79.46%
Expected dividend yield		0.00%		0.00%

The Company recorded $388,775 and $24,880 of share-based compensation expenses for the six months ended March 31, 2020 and 2019 respectively, and $380,000 and $13,446 for the three months ended March 31, 2020 and 2019, respectively.

As of March 31, 2020, the Company had approximately $482,000 of unrecognized share-based compensation expense, which is expected to be recognized over a period of 35 months.

Issued and outstanding common shares:

	Number of Common Shares (#)		Common Shares
Balance – December 31, 2018		3,239,902	$	1,111,253

Conversion of preferred shares upon reverse acquisition		3,376,112	$	6,260,299
Share consideration transferred upon reverse acquisition		888,454		4,633,499

Balance – September 30, 2019		7,504,468	$	12,005,051

Common shares issued		1,354,691	$	3,070,358
Share issuance costs				(342,735	)

Balance – March 31, 2020		8,859,159	$	14,732,674

Issued and outstanding preferred shares:

	Class A Preferred Shares (#)			Class A Preferred Shares
Balance – December 31, 2018		1,007,143		$	6,064,013

Preferred return on Class A preferred shares		-			196,286
Conversion upon reverse acquisition		(1,007,143	)		(6,260,299	)

Balance – September 30, 2019 and March 31, 2020		-		$	-

Following the completion of the reverse acquisition on June 7, 2019, all the outstanding Class A preferred shares and accumulated accrued preferred return were fully converted to 3,376,112 common shares based on the fair market value upon conversion. Prior to conversion, the Class A preferred shares had the following features.

The Class A preferred shares were voting and convertible into common shares at the option of the holder at any time. Upon the occurrence of a liquidation event, as defined in the resolutions of the shareholders dated August 28, 2017, the Class A preferred shares had a liquidation amount preference over the rights of holders of common shares or any class of shares ranking junior to Class A preferred shares. The Class A preferred shares also contained an 8% preferred return that accrued daily and compounded annually and was payable in shares upon conversion.

The Company evaluated the convertible preferred shares and the embedded conversion option. The embedded conversion option does not meet the criteria for bifurcation and has therefore been classified to equity.

Financial Instruments

6 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Financial Instruments

(a) Fair values

The Company uses the fair value measurement framework for valuing financial assets and liabilities measured on a recurring basis in situations where other accounting pronouncements either permit or require fair value measurements.

Fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

The Company follows the fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Observable inputs are inputs that reflect assumptions market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company's own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances.

There are three levels of inputs that may be used to measure fair value:

●	Level 1 - Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.

●

Level 2 - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets or liabilities in active markets, or quoted prices for identical or similar assets and liabilities in markets that are not active.

●	Level 3 - Unobservable inputs for the asset or liability that are supported by little or no market activity.

The carrying value of certain financial instruments such as cash and cash equivalents, accounts and other receivable, accounts payable and accrued liabilities approximates fair value due to the short-term nature of such instruments. Short-term investments in U.S. Treasury Bills were recorded at amortized cost, which approximates fair value using level 1 inputs.

(b) Interest rate and credit risk

Interest rate risk is the risk that the value of a financial instrument might be adversely affected by a change in interest rates. The Company does not believe that the results of operations or cash flows would be affected to any significant degree by a significant change in market interest rates, relative to interest rates on cash and cash equivalents due to the short-term nature of these balances.

The Company is also exposed to credit risk at period end from the carrying value of its cash and cash equivalents and accounts and other receivable. The Company manages this risk by maintaining bank accounts with Canadian Chartered Banks, U.S. banks believed to be credit worthy and U.S. Treasury Bills. The Company’s cash is not subject to any external restrictions. The Company assesses the collectability of accounts receivable through a review of the current aging, as well as an analysis of historical collection rates, general economic conditions and credit status of customers. Credit risk for HST refunds receivable is not considered significant since amounts are due from the Canada Revenue Agency.

(c) Foreign exchange risk

The Company and its subsidiary have balances in Canadian dollars that give rise to exposure to foreign exchange (“FX”) risk relating to the impact of translating certain non-U.S. dollar balance sheet accounts as these statements are presented in U.S. dollars. A strengthening U.S. dollar will lead to a FX loss while a weakening U.S. dollar will lead to a FX gain. The Company has not entered into any agreements or purchased any instruments to hedge possible currency risks. At March 31, 2020, the Company and its Canadian subsidiary had assets of C$3.5 million and the U.S. dollar was equal to 1.4712 Canadian dollars. Based on the exposure at March 31, 2020, a 10% annual change in the Canadian/U.S. exchange rate would impact the Company’s loss and other comprehensive loss by approximately $247,000.

(d) Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty raising liquid funds to meet commitments as they fall due. In meeting its liquidity requirements, the Company closely monitors its forecasted cash requirements with expected cash drawdown.

Segmented Information	6 Months Ended
Segmented Information	Mar. 31, 2020
Segment Reporting [Abstract]
Segmented information	The Company's operations comprise a single reportable segment engaged in the research and development, manufacturing and commercialization of innovative pharmaceutical products. As the operations comprise a single reportable segment, amounts disclosed in the financial statements for loss for the period, depreciation and total assets also represent segmented amounts.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Loss Per Share	6 Months Ended
Loss Per Share	Mar. 31, 2020
Earnings Per Share, Basic [Abstract]
Loss per share	The Company had securities outstanding which could potentially dilute basic EPS in the future but were excluded from the computation of diluted loss per share in the periods presented, as their effect would have been anti-dilutive.

Related Party Transactions

6 Months Ended

Mar. 31, 2020

Related Party Transactions

During the periods presented, the Company incurred the following related party transactions:

●

During the six months ended March 31, 2020 and 2019, the Company incurred rent expense of $38,571 and $39,106 from a related company, respectively, and $19,131 and $19,302 for the three months ended March 31, 2020 and 2019, respectively. These transactions are in the normal course of operations and are measured at the exchange amount, which is the amount of consideration established and agreed to by both parties.

●

No royalty expenses to a director related to product sales by the California subsidiary were incurred during the six months ended March 31, 2020 and 2019. During the six months ended March 31, 2020, accounts payable and accrued liabilities of $23,457 at September 30, 2019 was paid to that director for product sales by the California subsidiary during 2019.

Subsequent Events

6 Months Ended

Mar. 31, 2020

Subsequent Events [Abstract]

Subsequent Events

On April 17, 2020, the Company entered into an exclusive license agreement with a pharmaceutical development company to obtain exclusive rights relating to certain monoclonal antibodies ("the Constructs"). Unless earlier terminated, the term of the license agreement will remain in effect for twenty-five years from the date of first commercial sale of Licensed Products. Subsequently, the license agreement will automatically renew for five (5) year periods unless either party terminates the agreement in accordance with its terms.

In exchange for the exclusive rights to develop and commercialize the Constructs, the Company issued $2.5 million of newly designated Series A-1 Convertible Preferred Shares. In addition, the Company is committed to payments of various amounts upon meeting certain milestones outlined in the license agreement, up to an aggregate amount of $363.5 million. The Company also has a commitment to pay royalties based on net sales of products containing the Constructs in countries where the Company directly commercializes such products and a percentage of sublicensing revenue received by the Company in the countries where it does not directly commercialize such products.

In connection with the license agreement and pursuant to a purchase agreement entered into on April 17, 2020, the Company will purchase inventory of one of the Constructs for an aggregate purchase price of $5.0 million, payable in two installments.

The outbreak of COVID-19, which was declared a pandemic by the World Health Organization in March 2020, has severely impacted financial markets and global economic activity, and has caused material disruptions to almost every industry directly or indirectly. The duration and impact of the COVID-19 outbreak is unknown at this time and it is not possible to reliably estimate the duration and severity of business shutdowns or disruptions, or the effectiveness of emergency government measures or central bank interventions.

Property and Equipment (Tables)

6 Months Ended

Mar. 31, 2020

Property, Plant and Equipment [Abstract]

Property and equipment

	March 31, 2020			September 30, 2019

Computer equipment	$	43,169		$	42,910
Furniture and equipment		7,555			7,932

		50,724			50,842
Less: accumulated depreciation		(33,840	)		(29,194	)

Depreciable assets, net	$	16,884		$	21,648

Assets not in service		8,226			51,410

Total property and equipment, net	$	25,110		$	73,058

Leases (Tables)

6 Months Ended

Mar. 31, 2020

Leases [Abstract]

Lease assets and liabilities

	Balance Sheet Caption	March 31, 2020
Assets:
Operating lease assets	Operating lease right-of-use assets	$	181,492

Liabilities:
Current:
Operating lease liabilities	Short-term operating lease liabilities	$	62,696
Long-term:
Operating lease liabilities	Long-term operating lease liabilities		122,743

Total lease liabilities		$	185,439

Lease cost components

	Statements of Operations Caption		Three Months Ended March 31, 2020				Six Months Ended March 31, 2020
Operating lease cost	General and administrative		$	19,131			$	38,571

Lease terms and discount rates

	March 31, 2020
Remaining lease term (months):		33
Estimated incremental borrowing rate:		6.5	%

Future minimum lease payments

Year Ending
September 30, 2020	$	36,211
September 30, 2021		73,900
September 30, 2022		74,393
September 30, 2023		18,598

Total lease payment		203,102
Less imputed interest		17,663

Present value of lease liabilities		185,439
Less current installments		62,696

Long-term lease liabilities excluding current installments	$	122,743

Cash paid-lease liabilities

	Statement of Cash Flows Caption		Six Months Ended March 31, 2020
Cash paid for amounts included in the measurement of lease liabilities	Operating lease liabilities		$	38,572

Commitments (Tables)

6 Months Ended

Mar. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Future contractual payments

Year Ending
September 30, 2020	$	1,724,000
September 30, 2021		41,000
September 30, 2022		19,000

	$	1,784,000

Capital Shares (Tables)

6 Months Ended

Mar. 31, 2020

Stockholders' Equity Note [Abstract]

Warrant activity

	Number of Warrants (#)			Weighted Average Exercise Price
Balance – December 31, 2018		-		$	-

Effect of reverse acquisition		362,430			31.60
Black-Scholes value payout		(313,516	)		33.01

Balance – September 30, 2019		48,914		$	11.19

Issued		1,705,758			4.47

Balance – March 31, 2020		1,754,672		$	4.66

Warrants outstanding

Number of Warrants (#)		Exercise Prices		Expiry Dates
	677,358	$	4.00	November 2020
	28,124		15.90	May 2023
	1,016,036		4.80	July 2023
	20,790		4.81	June 2024
	12,364		3.20	January 2025
	1,754,672

Warrant Valuation Model

	Class A warrants	Class B warrants	Placement agent warrants

Risk free interest rate	1.61%	1.55%	1.61%
Expected life	3.5 years	0.83 years	5 years
Expected share price volatility	103.81%	134.15%	101.89%
Expected dividend yield	0.00%	0.00%	0.00%

Stock option activity

	Number of Options (#)			Weighted Average Exercise Price
Balance – December 31, 2018		315,123		$	1.65

Effect of reverse acquisition		7,787			124.80
Expired		(3,265	)		125.75

Balance – September 30, 2019		319,645		$	3.39

Granted		352,365			3.16
Expired		(119	)		74.09

Balance – March 31, 2020		671,891		$	3.19

Stock options outstanding

Number of Options (#)		Exercisable at March 31, 2020 (#)		Range of Exercise Prices		Expiry Dates
	214		214	C$	243.60	May 2020
	238		238	$	768.60	Nov 2020
	214		214	C$	638.40	Nov 2021
	238		238	$	304.08	Dec 2022
	3,499		3,499	$	35.28 - 93.24	Sep 2023-Mar 2025
	315,123		274,448	C$	2.16	Aug 2027-Dec 2028
	352,365		122,836	$	3.16	Feb 2030
	671,891		401,687

Fair value of options granted assumptions

	Six-Months Ended		Six-Months Ended
	March 31, 2020		March 31, 2019

Risk free interest rate		1.45%		1.98%
Expected life (years)		5 years		4 years
Expected share price volatility		104.14%		79.46%
Expected dividend yield		0.00%		0.00%

Issued and outstanding common and preferred shares

Issued and outstanding common shares:

	Number of Common Shares (#)		Common Shares
Balance – December 31, 2018		3,239,902	$	1,111,253

Conversion of preferred shares upon reverse acquisition		3,376,112	$	6,260,299
Share consideration transferred upon reverse acquisition		888,454		4,633,499

Balance – September 30, 2019		7,504,468	$	12,005,051

Common shares issued		1,354,691	$	3,070,358
Share issuance costs				(342,735	)

Balance – March 31, 2020		8,859,159	$	14,732,674

Issued and outstanding preferred shares:

	Class A Preferred Shares (#)			Class A Preferred Shares
Balance – December 31, 2018		1,007,143		$	6,064,013

Preferred return on Class A preferred shares		-			196,286
Conversion upon reverse acquisition		(1,007,143	)		(6,260,299	)

Balance – September 30, 2019 and March 31, 2020		-		$	-

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

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+ Details

Nature of Operations (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
Nature of Operations (Details Narrative) - USD ($)	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net loss	$ (1,489,636)	$ (528,830)	$ (2,583,969)	$ (893,679)
Cash and cash equivalents	6,989,930	3,042,141	6,989,930	3,042,141		$ 5,030,583		$ 3,730,230
Shareholders' equity	6,930,943	$ 2,772,359	6,930,943	$ 2,772,359	$ 4,233,686	5,256,130	$ 3,214,490	$ 3,550,145
Accumulated deficit	$ (9,318,584)		$ (9,318,584)			$ (6,734,615)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

- Definition

+ References + Details

Property and Equipment (Details) - USD ($)	Mar. 31, 2020	Sep. 30, 2019
Property and equipment, gross	$ 50,724	$ 50,842
Less: accumulated depreciation	(33,840)	(29,194)
Total property and equipment, net	25,110	73,058
Computer Equipment
Property and equipment, gross	43,169	42,910
Furniture and Equipment
Property and equipment, gross	7,555	7,932
Depreciable Assets, Net
Total property and equipment, net	16,884	21,648
Assets Not in Service
Total property and equipment, net	$ 8,226	$ 51,410

Property and Equipment (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
Property and Equipment (Details Narrative) - USD ($)	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 2,651	$ 504	$ 5,054	$ 916

Leases (Details) - USD ($)	Mar. 31, 2020	Sep. 30, 2019
Assets:
Operating lease right-of-use assets	$ 181,492	$ 0
Current:
Short-term operating lease liabilities	62,696	0
Long-term:
Long-term operating lease liabilities	122,743	$ 0
Total lease liabilities	$ 185,439

Leases (Details 1) - USD ($)	3 Months Ended	6 Months Ended
Leases (Details 1) - USD ($)	Mar. 31, 2020	Mar. 31, 2020
General and Administrative Expense
Operating lease cost	$ 19,131	$ 38,571

Leases (Details 2)	Mar. 31, 2020
Leases [Abstract]
Remaining lease term (months)	33 months
Estimated incremental borrowing rate	6.50%

Leases (Details 3) - USD ($)	Mar. 31, 2020	Sep. 30, 2019
Year Ending September 30,
2020	$ 36,211
2021	73,900
2022	74,393
2023	18,598
Total	203,102
Less imputed interest	17,663
Present value of lease liabilities	185,439
Less current installments	62,696	$ 0
Long-term lease liabilities excluding current installments	$ 122,743	$ 0

Leases (Details 4) - USD ($)	6 Months Ended
Leases (Details 4) - USD ($)	Mar. 31, 2020	Mar. 31, 2019
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 38,572	$ 0

Commitments (Details)	Mar. 31, 2020 USD ($)
Year Ending September 30,
2020	$ 1,724,000
2021	41,000
2022	19,000
Total	$ 1,784,000

Commitments (Details Narrative) - USD ($)	3 Months Ended	6 Months Ended
Commitments (Details Narrative) - USD ($)	Mar. 31, 2020	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Contributions to 401K plan	$ 2,979	$ 4,535

- Definition

Amount of contribution received by defined benefit plan from employer which increases plan assets.

+ References + Details

Capital Shares (Details) - $ / shares	6 Months Ended
Capital Shares (Details) - $ / shares	Mar. 31, 2020	Mar. 31, 2019
Stockholders' Equity Note [Abstract]
Number of warrants, beginning balance	48,914	0
Effect of reverse acquisition	0	362,430
Black-Scholes value payout	0	(313,516)
Number of warrants issued	1,705,758	0
Number of warrants, ending balance	1,754,672	48,914
Weighted average exercise price, beginning balance	$ 11.19	$ 0
Effect of reverse acquisition	0.00	31.60
Black-Scholes value payout	0.00	33.01
Weighted average exercise price, warrants issued	4.47	0.00
Weighted average exercise price, ending balance	$ 4.66	$ 11.19

Capital Shares (Details 1) - $ / shares	6 Months Ended
Capital Shares (Details 1) - $ / shares	Mar. 31, 2020	Sep. 30, 2019	Mar. 31, 2019	Sep. 30, 2018
Number of warrants	1,754,672	48,914	48,914	0
Exercise price	$ 4.66	$ 11.19	$ 11.19	$ 0
Warrant 1
Number of warrants	677,358
Exercise price	$ 4.00
Expiry date	Nov-20
Warrant 2
Number of warrants	28,124
Exercise price	$ 15.90
Expiry date	May-23
Warrant 3
Number of warrants	1,016,036
Exercise price	$ 4.80
Expiry date	Jul-23
Warrant 4
Number of warrants	20,790
Exercise price	$ 4.81
Expiry date	Jun-24
Warrant 5
Number of warrants	12,364
Exercise price	$ 3.20
Expiry date	Jan-25

Capital Shares (Details 2)	6 Months Ended
Capital Shares (Details 2)	Mar. 31, 2020
Class A Warrants
Risk free interest rate	1.61%
Expected life (years)	3 years 6 months
Expected share price volatility	103.81%
Expected dividend yield	0.00%
Class B Warrants
Risk free interest rate	1.55%
Expected life (years)	9 months 29 days
Expected share price volatility	134.15%
Expected dividend yield	0.00%
Placement agent warrants
Risk free interest rate	1.61%
Expected life (years)	5 years
Expected share price volatility	101.89%
Expected dividend yield	0.00%

Capital Shares (Details 3) - $ / shares	6 Months Ended
Capital Shares (Details 3) - $ / shares	Mar. 31, 2020	Mar. 31, 2019
Stockholders' Equity Note [Abstract]
Number of options, beginning balance	319,645	315,123
Number of options granted	352,365	0
Number of options effect of reverse acquisition	0	7,787
Number of options expired	(119)	(3,265)
Number of options, ending balance	671,891	319,645
Weighted average exercise price, beginning balance	$ 3.39	$ 1.65
Weighted average exercise price granted	3.16	0
Weighted average exercise price effect of reverse acquisition	0.00	124.80
Weighted average exercise price expired	74.09	125.75
Weighted average exercise price, ending balance	$ 3.19	$ 3.39

Capital Shares (Details 4)	6 Months Ended
Capital Shares (Details 4)	Mar. 31, 2020 $ / shares shares	Mar. 31, 2020 $ / shares shares	Sep. 30, 2019 $ / shares shares	Mar. 31, 2019 $ / shares shares	Sep. 30, 2018 $ / shares shares
Options outstanding	671,891	671,891	319,645	319,645	315,123
Options exercisable	401,687	401,687
Range of exercise prices \| $ / shares	$ 3.19		$ 3.39	$ 3.39	$ 1.65
Stock Option 1
Options outstanding	214	214
Options exercisable	214	214
Range of exercise prices \| $ / shares		$ 243.60
Expiry dates	May 2020
Stock Option 2
Options outstanding	238	238
Options exercisable	238	238
Range of exercise prices \| $ / shares	$ 768.60
Expiry dates	November 2020
Stock Option 3
Options outstanding	214	214
Options exercisable	214	214
Range of exercise prices \| $ / shares		$ 638.40
Expiry dates	November 2021
Stock Option 4
Options outstanding	238	238
Options exercisable	238	238
Range of exercise prices \| $ / shares	$ 304.08
Expiry dates	December 2022
Stock Option 5
Options outstanding	3,499	3,499
Options exercisable	3,499	3,499
Expiry dates	September 2023 - March 2025
Stock Option 5 \| Minumum
Range of exercise prices \| $ / shares	$ 35.28
Stock Option 5 \| Maximum
Range of exercise prices \| $ / shares	$ 93.24
Stock Option 6
Options outstanding	315,123	315,123
Options exercisable	274,448	274,448
Range of exercise prices \| $ / shares		$ 2.16
Expiry dates	August 2027 - December 2028
Stock Option 7
Options outstanding	352,365	352,365
Options exercisable	122,836	122,836
Range of exercise prices \| $ / shares	$ 3.16
Expiry dates	February 2030

Capital Shares (Details 5)	6 Months Ended
Capital Shares (Details 5)	Mar. 31, 2020	Mar. 31, 2019
Stockholders' Equity Note [Abstract]
Risk free interest rate	1.45%	1.98%
Expected life (years)	5 years	4 years
Expected share price volatility	104.14%	79.46%
Expected dividend yield	0.00%	0.00%

Capital Shares (Details 6) - USD ($)	3 Months Ended		6 Months Ended		9 Months Ended
Capital Shares (Details 6) - USD ($)	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019	Sep. 30, 2019
Beginning balance, amount	$ 4,233,686	$ 3,214,490	$ 5,256,130	$ 3,550,145	$ 3,214,490
Preferred return for Class A preferred shares, amount
Issuance of common shares in equity offering, amount	4,315,500		4,360,500
Issuance costs	468,699		468,699
Ending balance, amount	$ (6,930,943)	$ (2,772,359)	$ (6,930,943)	$ (2,772,359)	$ (5,256,130)
Common Shares
Beginning balance, shares	7,504,468	3,239,902	7,504,468	3,239,902	3,239,902
Beginning balance, amount	$ 12,005,051	$ 1,111,253	$ 12,005,051	$ 1,111,253	$ 1,111,253
Conversion of preferred shares upon reverse acquisition, shares					3,376,112
Conversion of preferred shares upon reverse acquisition, amount					$ 6,260,299
Share consideration transferred upon reverse acquisition, shares					888,454
Share consideration transferred upon reverse acquisition, amount					$ 4,633,499
Issuance of common shares in equity offering, shares	1,354,691		1,354,691
Issuance of common shares in equity offering, amount	$ 3,070,358		$ 3,070,358
Issuance costs	$ 342,735		$ 342,735
Ending balance, shares	8,859,159	3,239,902	8,859,159	3,239,902	(7,504,468)
Ending balance, amount	$ (14,732,674)	$ 1,111,253	$ (14,732,674)	$ 1,111,253	$ (12,005,051)
Class A Preferred Shares
Beginning balance, shares		1,007,143	0		1,007,143
Beginning balance, amount		$ 6,064,013	$ 0	5,945,520	$ 6,064,013
Preferred return on Class A preferred shares, shares					0
Preferred return for Class A preferred shares, amount		112,980		231,473	$ 196,286
Conversion of preferred shares upon reverse acquisition, shares					(1,007,143)
Conversion of preferred shares upon reverse acquisition, amount					$ (6,260,299)
Issuance of common shares in equity offering, amount
Issuance costs
Ending balance, shares	0		0		0
Ending balance, amount	$ 0	$ (6,176,993)	$ 0	$ (6,176,993)	$ 0

Capital Shares (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
Capital Shares (Details Narrative) - USD ($)	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Stockholders' Equity Note [Abstract]
Weighted average contractual life remaining on outstanding warrants			27 months
Shares remaining under 2019 Plan	1,153,147		1,153,147
Weighted average contractual life remaining on outstanding options			105 months
Share-based compensation	$ 380,000	$ 13,446	$ 388,775	$ 24,880
Unrecognized share-based compensation	$ 482,000		$ 482,000
Unrecognized share-based compensation recognition period			35 months

Related Party Transactions (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Related Party Transactions [Abstract]
Rent expense	$ 19,131	$ 19,302	$ 38,571	$ 39,106