8% CONVERTIBLE NOTES (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Derivative Liabilities at Fair Value |
As a result of the conversion of notes we recorded other income of $142,964 for the year ended September 30, 2016 and due to the change in the estimated fair value of the derivative liability we recorded other income of $192,128 for the year ended September 30, 2016. As a result of a change in the estimated fair value of the derivative liability we recorded other expense of $67,395 and a gain on the conversion of notes of $87,291 for the year ended September 30, 2015. Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
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Schedule of Assumptions Used |
The derivative liability was valued as of September 30, 2015, October 29, 2015 (weighted average conversion date) and December 31, 2015 using Monte Carlo Simulations with the following assumptions:
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