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14. EQUITY (Tables)

6 Months Ended

12 Months Ended

Mar. 31, 2013

Sep. 30, 2012

Notes to Financial Statements

Summary of the warrants issued

		March 31, 2013
						Weighted
						Average
						Exercise
		Shares				Price
Outstanding at beginning of period			3,369,050				0.307
Issued			250,000				0.100
Exercised			-				-
Forfeited			-				-
Expired			(792,000	)			(0.500	)
Outstanding at end of period			2,827,050				0.235
Exerciseable at end of period			2,827,050

A summary of the warrants issued as of September 30, 2012 were as follows:

		September 30, 2012
						Weighted
						Average
						Exercise
		Shares				Price
Outstanding at beginning of period			4,569,050				0.410
Issued			600,000				0.100
Exercised			-				-
Forfeited			-				-
Expired			(1800000	)			(0.500	)
Outstanding at end of period			3,369,050				0.307
Exerciseable at end of period			3,369,050

Summary of the status of the warrants outstanding

				March 31, 2013
				Weighted				Weighted								Weighted
				Average				Average								Average
Number of				Remaining				Exercise				Shares				Exercise
Warrants				Life				Price				Exerciseable				Price
	850,000				1.41			$	0.100				850,000			$	0.100
	1,359,073				0.76				0.20-0.29				1,359,073				0.20-0.29
	117,977				1.05				0.30-0.39				117,977				0.30-0.39
	500,000				0.88				0.40-0.49				500,000				0.40-0.49


	2,827,050				-			$	0.235				2,827,050				0.235

A summary of the status of the warrants outstanding as of September 30, 2012 is presented below:

				September 30, 2012
				Weighted				Weighted								Weighted
				Average				Average								Average
Number of				Remaining				Exercise				Shares				Exercise
Warrants				Life				Price				Exerciseable				Price
	600,000				2.50			$	0.100				600,000			$	0.100
	1,359,073				1.26				0.20-0.29				1,359,073				0.20-0.29
	117,977				1.55				0.30-0.39				117,977				0.30-0.39
	500,000				1.38				0.40-0.49				500,000				0.40-0.49
	792,000				3.63				0.500				792,000				0.500

	3,369,050				2.27			$	0.307				3,369,050			$	0.307

Weighted average assumptions relating to the valuation of the Companys warrants

Dividend yield	0%
Expected life	3
Expected volatility	143%
Risk free interest rate	2%

The significant weighted average assumptions relating to the valuation of the Company’s warrants for the year ended September 30, 2012 were as follows:

Assumptions
Dividend yield			0	%
Expected life			3
Expected volatility			143	%
Risk free interest rate			2	%

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.

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