NOTE PAYABLE (Details Textual) - USD ($) |
3 Months Ended | 9 Months Ended | ||||
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Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
Sep. 30, 2015 |
Sep. 30, 2013 |
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Note Payable [Line Items] | ||||||
Interest Expense, Debt | $ 2,765 | $ 2,765 | $ 8,294 | $ 8,294 | ||
Debt instrument, unamortized discount | 975,118 | 975,118 | $ 966,824 | |||
Loans | ||||||
Note Payable [Line Items] | ||||||
Notes Payable | 944,707 | 944,707 | ||||
2014 Warrant | ||||||
Note Payable [Line Items] | ||||||
Notes Payable | 55,293 | $ 55,293 | ||||
Fair Value Assumptions, Risk Free Interest Rate | 2.64% | |||||
Fair Value Assumptions, Expected Dividend Rate | 0.00% | |||||
Fair Value Assumptions, Expected Term | 10 years | |||||
Fair Value Assumptions, Expected Volatility Rate | 114.00% | |||||
Massachusetts Life Sciences Center | ||||||
Note Payable [Line Items] | ||||||
Subordinated Debt | $ 1,000,000 | $ 1,000,000 | $ 1,000,000 | |||
Debt Instrument, Payment Terms | The loan bears interest at a rate of 10% per annum, and will become fully due and payable on the earlier of (i) September 30, 2018, (ii) the occurrence of an event of default under the MLSC Loan Agreement, or (iii) the completion of a sale of substantially all of our assets, a change-of-control transaction or one or more financing transactions in which we receive from third parties other than our then-existing shareholders net proceeds of $5,000,000 or more in a 12-month period. | |||||
Warrants Issued To Purchase Of Common Stock | 145,985 | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.27 |
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- Definition Note Payable. No definition available.
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- Definition Warrants Issued To Purchase of common stock No definition available.
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- Definition Exercise price per share or per unit of warrants or rights outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Description of the payment terms of the debt instrument (for example, whether periodic payments include principal and frequency of payments) and discussion about any contingencies associated with the payment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount, after accumulated amortization, of debt discount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Expected dividends to be paid to holders of the underlying shares or financial instruments (expressed as a percentage of the share or instrument's price). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Period the instrument, asset or liability is expected to be outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Measure of dispersion, in percentage terms (for instance, the standard deviation or variance), for a given stock price. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Risk-free interest rate assumption used in valuing an instrument. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense for debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Including the current and noncurrent portions, aggregate carrying amount of all types of notes payable, as of the balance sheet date, with initial maturities beyond one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Including the current and noncurrent portions, carrying value as of the balance sheet date of subordinated debt (with initial maturities beyond one year or beyond the operating cycle if longer). Subordinated debt places a lender in a lien position behind debt having a higher priority of repayment in liquidation of the entity's assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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