Annual report pursuant to Section 13 and 15(d)

PRIVATE PLACEMENT FINANCING (Tables)

v2.4.0.8
PRIVATE PLACEMENT FINANCING (Tables)
12 Months Ended
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, 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 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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