COMMON STOCK (Tables)

12 Months Ended

Sep. 30, 2016

COMMON STOCK [Abstract]

Schedule of Stock Options, Valuation Assumptions

The following assumptions were used to value the options:

	November 1, 2014	May 1, 2015	June 1, 2015
Expected dividend yield	0.00%	0.00%	0.00%
Expected volatility	206%	206%	205%
Expected life (in years)	5.00	5.00	5.00
Risk-free interest rate	1.62%	1.50%	1.55%

Schedule of Stock Options Activity

A summary of Arkanova’s stock option activity is as follows:

						Weighted
						Average		Aggregate
	Number of			Weighted Average		Remaining		Intrinsic
	Options			Exercise Price		Contractual Term		Value
Outstanding, September 30, 2014	4,800,000		$	0.05*
Granted	425,000			0.05*
Cancelled	(250,000	)		(0.10	)*
Outstanding, September 30, 2015	4,975,000		$	0.05*
Expired	–
Outstanding, September 30, 2016	4,975,000		$	0.05*
Exercisable, September 30, 2016	4,975,000		$	0.05*		2.41	$	–

Schedule of Fair Value of Each Option Amendment, Under Black-Scholes Option Pricing Model

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

	Pre -	Post -
	Amendment	Amendment
Expected dividend yield	0.00%	0.00%
Expected volatility	220%	220%
Expected life (in years)	3.92	3.92
Risk-free interest rate	1.20%	1.20%