Quarterly report pursuant to sections 13 or 15(d)

Consolidated Balance Sheets

v2.4.0.8
Consolidated Balance Sheets (USD $)
Mar. 31, 2014
Sep. 30, 2013
Current assets:    
Cash and cash equivalents $ 2,631,285 $ 557,319
Promissory note receivable 0 1,000,000
Prepaid expenses and other current assets 30,917 19,629
Total current assets 2,662,202 1,576,948
Long-term Assets:    
Property and equipment, net 322 322
Other assets 10,062 10,062
Total long-term assets 10,384 10,384
Total assets 2,672,586 1,587,332
Current liabilities:    
Accounts payable 104,155 314,769
Accrued expenses and other liabilities 149,948 140,840
Derivative liabilities 4,114,773 0
Total current liabilities 4,368,876 455,609
Long-term liabilities:    
Note payable 950,237 944,707
Accrued interest 50,000 0
Derivative liabilities 5,792,045 0
Total long-term liabilities 6,792,282 944,707
Total liabilities 11,161,158 1,400,316
Commitments and contingencies      
Stockholders' (deficit) equity:    
Common stock, $0.001 par value, 300,000,000 shares authorized, 72,076,487 issued and 71,926,487 shares outstanding as of March 31, 2014 and 60,145,237 shares issued and outstanding as of September 30, 2013 71,926 60,145
Additional paid in capital 5,259,969 4,758,742
Deficit accumulated during the development stage (13,820,467) (4,631,871)
Total stockholders’ (deficit) equity (8,488,572) 187,016
Total liabilities and stockholders' (deficit) equity: $ 2,672,586 $ 1,587,332