Quarterly report pursuant to Section 13 or 15(d)

RESTRICTED STOCK 2016 (Tables)

v3.5.0.2
RESTRICTED STOCK 2016 (Tables) - 2016 Restricted Stock [Member]
9 Months Ended
Jun. 30, 2016
Nonvested Restricted Stock Shares Activity [Table Text Block]
Restricted stock activity for the nine months ended June 30, 2016 is as follows:
 
Non Vested at September 30, 2015
 
-
 
Awarded
 
2,000,000
 
Vested
 
-
 
Forfeited
 
-
 
Non Vested at June 30, 2016
 
2,000,000
 
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value [Table Text Block]
The weighted average restricted stock award date fair value information for the nine months ended June 30, 2016 is as follows:
 
Non Vested at September 30, 2015
 
$
-
 
Awarded
 
 
0.39
 
Vested
 
 
-
 
Forfeited
 
 
-
 
Non Vested at June 30, 2016
 
$
0.39
 
 
For the three and nine months ended June 30, 2016, compensation expense recorded for the 2016 restricted stock awards was approximately $62,000. Of this amount approximately $18,000 was recorded to research and development expenses, and approximately $44,000 was recorded in general and administrative expenses in the Company’s unaudited interim consolidated statements of operations.