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15. EQUITY (Tables)

9 Months Ended

Jun. 30, 2013

Notes to Financial Statements

Summary of the warrants issued

A summary of the warrants issued as of June 30, 2013 were as follows:

		June 30, 2013
						Weighted
						Average
						Exercise
		Shares				Price
Outstanding at beginning of period			3,369,050			$	0.307
Issued			110,080,000				0.100
Exercised			-				-
Forfeited			(300,000	)			(0.200	)
Expired			(792,000	)			(0.500	)
Outstanding at end of period			112,357,050			$	0.173
Exerciseable at end of period			112,357,050

Summary of the status of the warrants outstanding

A summary of the status of the warrants outstanding as of June 30, 2013 is presented below:

				June 30, 2013
				Weighted				Weighted								Weighted
				Average				Average								Average
Number of				Remaining				Exercise				Shares				Exercise
Warrants				Life				Price				Exerciseable				Price
	6,080,000				4.37			$	0.100				6,080,000			$	0.100
	52,300,000				4.88				0.150				52,300,000				0.150
	52,300,000				4.88				0.200				52,300,000				0.200
	1,059,073				0.62				0.20-0.29				1,059,073				0.20-0.29
	117,977				0.80				0.30-0.39				117,977				0.30-0.39
	500,000				0.63				0.40-0.49				500,000				0.40-0.49
	112,357,050				4.75			$	0.173				112,357,050			$	0.173

Weighted average assumptions relating to the valuation of the Companys warrants

The significant weighted average assumptions relating to the valuation of the Company’s warrants for the period ended June 30, 2013 were as follows:

Dividend yield	0%
Expected life	3-5 years
Expected volatility	143%
Risk free interest rate	1.5%

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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