NOTE PAYABLE (Details Textual) - USD ($) |
3 Months Ended | 6 Months Ended | ||||
---|---|---|---|---|---|---|
Mar. 31, 2016 |
Mar. 31, 2015 |
Mar. 31, 2016 |
Mar. 31, 2015 |
Sep. 30, 2015 |
Sep. 30, 2013 |
|
Note Payable [Line Items] | ||||||
Interest Expense, Debt | $ 2,764 | $ 2,764 | $ 5,529 | $ 5,529 | ||
Debt instrument, unamortized discount | 972,353 | 972,353 | $ 966,824 | |||
Loans | ||||||
Note Payable [Line Items] | ||||||
Notes Payable | 944,707 | 944,707 | ||||
2014 Warrant | ||||||
Note Payable [Line Items] | ||||||
Notes Payable | 55,293 | $ 55,293 | ||||
Fair Value Assumptions, Risk Free Interest Rate | 2.64% | |||||
Fair Value Assumptions, Expected Dividend Rate | 0.00% | |||||
Fair Value Assumptions, Expected Term | 10 years | |||||
Fair Value Assumptions, Expected Volatility Rate | 114.00% | |||||
Massachusetts Life Sciences Center | ||||||
Note Payable [Line Items] | ||||||
Subordinated Debt | $ 1,000,000 | $ 1,000,000 | $ 1,000,000 | |||
Debt Instrument, Payment Terms | The loan bears interest at a rate of 10% per annum, and will become fully due and payable on the earlier of (i) September 30, 2018, (ii) the occurrence of an event of default under the MLSC Loan Agreement, or (iii) the completion of a sale of substantially all of our assets, a change-of-control transaction or one or more financing transactions in which we receive from third parties other than our then-existing shareholders net proceeds of $5,000,000 or more in a 12-month period. | |||||
Warrants Issued To Purchase Of Common Stock | 145,985 | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.27 |