General form of registration statement for all companies including face-amount certificate companies

PRIVATE PLACEMENT FINANCING (Tables)

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PRIVATE PLACEMENT FINANCING (Tables) - Private Placement Financing [Member]
 9 Months Ended 12 Months Ended
Jun. 30, 2015
Sep. 30, 2014
Private Placement [Line Items]    
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, net of Inducement Shares
 
 
896,763
 
 
 
 
 
 
Exercises of warrants
 
 
(299,321)
 
 
 
 
 
 
Adjustments to estimated fair value
 
 
(2,980,829)
 
 
 
 
 
 
Ending balance at June 30, 2015
 
$
3,886,613
 
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, December 1, 2014, March 15, 2015, June 22, 2015, and June 30, 2015 using Monte Carlo Simulation or Black Schole, as appropriate, with the following assumptions:
 
 
 
September 30,
 
December 1,
 
March 15,
 
June 22,
 
June 30,
 
 
 
2014
 
2014
 
2015
 
2015
 
2015
 
Closing price per share of Common Stock
 
$
0.18
 
$
0.25
 
$
0.21
 
$
0.23
 
$
0.26
 
Exercise price per share
 
$
0.30 - 0.40
 
$
0.20 - $0.30
 
$
0.20 - $0.30
 
$
0.20
 
$
0.20
 
Expected volatility
 
 
85 - 90
%
 
80 – 90
%
 
80 – 110
%
 
55- 85
%
 
75-85
%
Risk-free interest rate
 
 
0.02 - 1.55
%
 
.01 – 1.39
%
 
0.03 – 1.41
%
 
0.27 - 1.68
%
 
0.28 – 1.63
%
Dividend yield
 
 
—
 
 
—
 
 
—
 
 
—
 
 
—
 
Remaining expected term of underlying securities (years)
 
 
0.33 - 4.33
 
 
0.33 – 4.6
 
 
0.22 – 4.3
 
 
1.03 – 4.03
 
 
1.01 – 4.01
 
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
 
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