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Stockholders' Equity (Tables)

12 Months Ended

Sep. 30, 2015

Schedule of non-vested restricted stock units

A summary of the Company's non-vested restricted stock units for the years ended September 30, 2015 and 2014 are as follows:



	Shares		Weighted Average Grant Due Fair Value *
Non-vested restricted stock units at October 1, 2013	124,364		$	472,000

Vested	(57,790	)	253,000
Forfeited	(8,784	)	39,000
Non-Vested restricted stock units at September 30, 2014	57,790		253,000

Vested	(55,670	)	199,000
Forfeited	(2,120	)	5,000
Non-vested restricted stock units at September 30, 2015	—		$	—

*For independent advisors, the weighted average grant date fair value is calculated as the weighted average vesting date fair value, or if not vested the value at the balance sheet date.

Schedule of stock option activity

The following option activity occurred under our plan during the years ended September 30, 2015 and 2014:



	Options		Weighted Average Exercise Price Per Share		Weighted Average Grant-Date Fair Value Per Share		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at September 30, 2013	1,030,000		$	6.60	0.80		6.50	$	—
Granted	194,000		5.30		$	2.20	8.44
Outstanding at September 30, 2014	1,224,000		6.40		1.00		4.69	$	104,000
Granted	180,000		5.50		2.14		7.73
Forfeited or expired	(34,000	)	5.00		2.30		8.04
Outstanding at September 30, 2015	1,370,000		6.34		1.14		4.12
Vested and exercisable at September 30, 2015	1,238,000		$	6.42	$	1.02	3.76	$	—

Schedule of valuation assumptions

The fair value of each option award was estimated on the date of grant using the Black-Scholes option pricing model using the following weighted-average assumptions:



	2015		2014
Dividend yield	0.00	%	0.00	%
Expected volatility	87.16	%	75.00	%
Risk-free interest rate	1.29	%	1.16	%
Expected life (in years)	4.50		5.26

Schedule of warrant activity

The following tables summarize information about warrant activity during 2015 and 2014:



	Warrants		Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Term
Outstanding at September 30, 2013 and 2014	89,676		$	5.00	0.73
Forfeited or expired	(89,676	)	$	5.00
Outstanding at September 30, 2015	—		$	—	—

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References + Details