Quarterly report pursuant to Section 13 or 15(d)

PRIVATE PLACEMENT FINANCING (2015) (Tables)

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PRIVATE PLACEMENT FINANCING (2015) (Tables) - 2015 Private Placement Financing
9 Months Ended
Jun. 30, 2015
Private Placement [Line Items]  
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, 2014
 
$
-
 
 
 
 
 
 
Issuances
 
 
2,458,204
 
 
 
 
 
 
Adjustments to estimated fair value
 
 
-
 
 
 
 
 
 
Ending balance at June 30, 2015
 
$
2,458,204
 
Schedule Of Assumptions Used To Value Derivative Liability
The derivative liabilities were valued as of June 30, 2015 using Monte Carlo Simulation with the following assumptions:
 
 
 
June 30,
 
 
 
2015
 
Closing price per share of common stock
 
$
0.26
 
Exercise price per share
 
$
0.25
 
Expected volatility
 
 
85
%
Risk-free interest rate
 
 
1.63
%
Dividend yield
 
 
 
Remaining expected term of underlying securities (years)
 
 
5.00