Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v2.4.0.8
Consolidated Balance Sheets (USD $)
Jun. 30, 2014
Sep. 30, 2013
Current assets:    
Cash and cash equivalents $ 1,802,524 $ 557,319
Promissory note receivable 0 1,000,000
Prepaid expenses and other current assets 32,206 19,629
Total current assets 1,834,730 1,576,948
Long-term assets:    
Property and equipment, net 0 322
Other Assets 0 10,062
Total long-term assets 0 10,384
Total assets 1,834,730 1,587,332
Current liabilities:    
Accounts payable 166,011 314,769
Accrued expenses and other liabilities 216,110 140,840
Current derivative liabilities 3,078,000 0
Total current liabilities 3,460,121 455,609
Long-term liabilities:    
Note payable 953,002 944,707
Accrued interest, net of current portion 75,000 0
Derivative liabilities, net of current portion 5,244,000 0
Total long-term liabilities 6,272,002 944,707
Total liabilities 9,732,123 1,400,316
Commitments and contingencies      
Stockholders’ (deficit) equity:    
Common stock, $0.001 par value, 300,000,000 shares authorized, 72,076,487 and 60,145,237 shares issued and outstanding as of June 30, 2014 and September 30, 2013, respectively 72,001 60,145
Additional paid in capital 5,440,314 4,758,742
Deficit accumulated during the development stage (13,409,708) (4,631,871)
Total stockholders’ (deficit) equity (7,897,393) 187,016
Total liabilities and stockholders' (deficit) equity $ 1,834,730 $ 1,587,332