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

8% CONVERTIBLE NOTES (Tables)

v2.4.1.9
8% CONVERTIBLE NOTES (Tables)
6 Months Ended
Mar. 31, 2015
Debt Disclosure [Abstract]  
Schedule of Derivative Liabilities at Fair Value [Table Text Block]
Fair Value Measurements Using Significant Unobservable
Inputs
(Level 3)
 
 
 
 
 
 
Convertible Debt Derivative Liability
 
Beginning balance at September 30, 2014
 
$
-
 
 
 
 
 
 
Issuances
 
 
354,988
 
 
 
 
 
 
Adjustments to estimated fair value
 
 
(92,857)
 
 
 
 
 
 
Ending balance at March 31, 2015
 
$
262,131
 
 
Schedule of Assumptions Used [Table Text Block]
The derivative liability was valued as of March 15, 2015 and March 31, 2015 using Monte Carlo Simulations with the following assumptions:
 
 
 
March 15,
2015
 
 
March 31,
2015
 
Stated interest rate
 
 
8.0
%
 
 
8.0
%
Exercise price per share
 
$
0.20
 
 
$
0.20
 
Expected volatility
 
 
90.0
%
 
 
90.0
%
Risk-free interest rate
 
 
0.24
%
 
 
0.25
%
Credit adjusted discount rate
 
 
20.0
%
 
 
20.0
%
Remaining expected term of underlying securities (years)
 
 
1.00
 
 
 
.96