Post-effective amendment to a registration statement that is not immediately effective upon filing

PRIVATE PLACEMENT FINANCING (Tables)

PRIVATE PLACEMENT FINANCING (Tables)

6 Months Ended

12 Months Ended

Mar. 31, 2015

Sep. 30, 2014

Private Placement Financing [Abstract]

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

Fair Value Measurements Using Significant Unobservable
Inputs
(Level 3)
	Warrant Derivative Liability
Beginning balance at September 30, 2014	$	6,270,000

Modification of Warrants		1,924,186

Exercises of Warrants		(224,000)

Adjustments to estimated fair value		(3,756,591)

Ending balance at March 31, 2015	$	4,213,595

Fair Value Measurements Using Significant Unobservable
Inputs
(Level 3)

	Warrant Derivative Liability
Beginning balance at September 30, 2013	$	—

Issuances		10,391,693

Adjustments to estimated fair value		(4,121,693)

Ending balance at September 30, 2014	$	6,270,000

Schedule Of Assumptions Used To Value Derivative Liability

The derivative liabilities were valued as of September 30, 2014, March 15, 2015, and March 31, 2015 using Monte Carlo Simulation with the following assumptions:

	September 30, 2014		March 15 , 2015	March 31, 2015
Closing price per share of common stock		$0.18	$0.21	$0.18
Exercise price per share		$0.30 - 0.40	$0.20 - $0.30	$0.20
Expected volatility		85 - 90%	80 - 110%	80 - 90%
Risk-free interest rate		0.02 - 1.55%	0.03 - 1.41%	0.04 - 1.19%
Dividend yield		—	—	—
Remaining expected term of underlying securities (years)		0.33 - 4.33	.22 - 4.30	.17 - 4.25

The derivative liabilities were valued as of February 4, 2014 and September 30, 2014, using Monte Carlo Simulation with the following assumptions:

	September 30,
	2014		February 04, 2014
Closing price per share of common stock		$0.18	$0.30
Exercise price per share		$0.30 - 0.40	$0.30 - 0.40
Expected volatility		85 - 90%	100 - 125%
Risk-free interest rate		0.02 - 1.55%	0.12-1.46%
Dividend yield		—	—
Remaining expected term of underlying securities (years)		.33 – 4.33	1 - 5

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References + Details