SUBSEQUENT EVENTS |
9 Months Ended | ||||
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Jun. 30, 2015 | |||||
| Subsequent Events [Abstract] | |||||
| SUBSEQUENT EVENTS |
During the period commencing July 1, 2015 and ending on August 5, 2015, additional Series A and Series C Warrants have been exercised for an aggregate issuance of 7,345,000 shares of the Company’s Common Stock at an exercise price of $0.20 per share, resulting in gross proceeds to the Company of $1,469,000.
As part of the amendment made to the Series A Warrants and Series C Warrants to delete the full ratchet anti-dilution provisions set forth in the Series A Warrants and Series C Warrants and to extend the expiration date of the Series C Warrants, an additional 125,000 shares of the Inducement Shares have been issued during July 2015. The remaining 10,000 Inducement Shares will be issued upon the execution and delivery by remaining holders of an investor certificate to the Company.
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