XML 55 R11.htm IDEA: XBRL DOCUMENT

Redeemable Preferred Stock	3 Months Ended
Dec. 31, 2013
Features of Convertible Preferred Stock [Abstract]
Redeemable Preferred Stock	From January 1, 2012 through July 19, 2012, the Company entered into subscription agreements with accredited investors pursuant to which we issued a total of 10,165 shares of our Series B Preferred Stock (convertible into 1,694,167 shares of the Company’s Common Stock), and five year warrants to purchase up to an additional 1,111,042 shares of our Common Stock at exercise prices ranging between $7.50 and $9.00 per share, in exchange for gross and net proceeds totaling approximately $10,165,000 and $9,219,461, respectively. The Series B Convertible Preferred Stock automatically converted to common stock on January 19, 2013 as in accordance with the registration statement. In aggregate 10,165 outstanding shares of the Series B Stock automatically converted into 1,694,167 common shares. During the year ended September 30, 2012, the Company issued Series B preferred stock with warrants to purchase additional common stock. The fair value of the warrants issued was approximately $4,481,126 at the issue date, resulting in a beneficial conversion feature and an immediate deemed dividend of approximately $4,481,126.

Redeemable Preferred Stock

3 Months Ended

Dec. 31, 2013

Features of Convertible Preferred Stock [Abstract]

From January 1, 2012 through July 19, 2012, the Company entered into subscription agreements with accredited investors pursuant to which we issued a total of 10,165 shares of our Series B Preferred Stock (convertible into 1,694,167 shares of the Company’s Common Stock), and five year warrants to purchase up to an additional 1,111,042 shares of our Common Stock at exercise prices ranging between $7.50 and $9.00 per share, in exchange for gross and net proceeds totaling approximately $10,165,000 and $9,219,461, respectively. The Series B Convertible Preferred Stock automatically converted to common stock on January 19, 2013 as in accordance with the registration statement. In aggregate 10,165 outstanding shares of the Series B Stock automatically converted into 1,694,167 common shares.

During the year ended September 30, 2012, the Company issued Series B preferred stock with warrants to purchase additional common stock. The fair value of the warrants issued was approximately $4,481,126 at the issue date, resulting in a beneficial conversion feature and an immediate deemed dividend of approximately $4,481,126.