XML 45 R24.htm IDEA: XBRL DOCUMENT v2.4.0.8
Summary of Significant Accounting Policies (Tables)
3 Months Ended
Dec. 31, 2013
Accounting Policies [Abstract]  
Changes in Level 3 liabilities
Date of Valuation

December 31,

2013

 

September 30,

2013

 

September 30,

2012

Stock Price 0.91   1.95     10.65  
Volatility (Annual) 70% to 72%   69% to 70%     68% to 74%  
Number of assumed financings 1   1     1  
Number of anti-dilutive warrants 159,167   159,167     159,167  
Total warrants outstanding 7,977,990   9,637,948     7,339,917  
Total shares outstanding 10,398,527   10,380,888     5,855,313  
Strike Price 2.25   6.00     6.00  
Risk-free Rate 0.33%   0.33%     0.23%  
Maturity Date 1/24/14 to 11/24/15   1/24/14 to 11/24/15   1/24/14 to 11/24/15
Expected Life .48 to 1.90 years   .73 to 2.15 years     1.73 to 3.15 years
Schedule of Fair Value of the Liabilities Measured on a Recurring Basis

 

            Fair Value Measurements at
            December 31, 2013 Using:
    Carrying                      
    Value     (Level 1)     (Level 2)   (Level 3)
                             
Financial Assets                            
Note payable, fair value   $ 142,089     $ -     $ -   $ 142,089
Derivative liability - warrants     26,505       -       -     26,505
Total securities   $ 168,594     $ -     $ 0   $ 168,594
                             

 

            Fair Value Measurements at
            September 30, 2013 Using:
    Carrying                      
    Value     (Level 1)     (Level 2)   (Level 3)
                             
Financial Assets                            
Derivative liability - warrants   $ 57,784     $ -     $ -   $ 57784
Total securities   $ 57,784     $ -     $ -   $ 57784
                             

 

            Fair Value Measurements at
            September 30, 2012 Using:
    Carrying                      
    Value     (Level 1)     (Level 2)   (Level 3)
                             
Financial Assets                            
Derivative liability - warrants   $  14,345,625     $ -     $ -   $  14,345,625
Total securities   $ 14,345,625     $ -     $ -   $  14,345,625
Schedule of Activity for Liabilities Measured at Fair Value using Unobservable Inputs

 

   

Fair Value Measurement

Using Significant

 
    Unobservable Inputs  
    (Level 3)  
    Warrant Derivative Liabilities   Conversion Notes  
Beginning balance at October 1, 2013     57,784       -  
     Additions during the year     -       382,000  
     Total unrealized (gains) or losses included in net loss     (31,279 )     (239,911 )
     Transfers in and/or out of Level 3     -       -  
Ending balance at December 31, 2013     26,505       142,089  
                 
   

Fair Value Measurement

Using Significant

 
    Unobservable Inputs  
    (Level 3)  
    Warrant Derivative Liabilities   Conversion Notes  
Beginning balance at October 1, 2012     14,345,625       -  
     Additions during the year     3,114,932       -  
     Total unrealized (gains) or losses included in net loss     (8,668,688 )     -  
     Transfers in and/or out of Level 3     (8,734,085 )     -  
Ending balance at September 30, 2013     57,784       -  
                 
   

Fair Value Measurement

Using Significant

 
    Unobservable Inputs  
    (Level 3)  
    Warrant Derivative Liabilities   Conversion Notes  
Beginning balance at October 1, 2011     1,289,520       -  
     Additions during the year     8,191,165       -  
     Total unrealized (gains) or losses included in net loss     5,346,358       -  
     Transfers in and/or out of Level 3     (481,418 )     -  
Ending balance at September 30, 2012     14,345,625       -