2.4.0.8009 - Disclosure - Stockholders' Equitytruefalsefalse1false
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<div style="text-indent: 0pt; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">NOTE 3</font></div>
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<div align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">STOCKHOLDERS’ EQUITY</font></div>
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<div style="text-align: left; text-indent: 63pt;"><font style="font-style: italic; display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">(A)</font></div>
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<div align="justify" style="text-indent: 0pt; margin-left: 0pt; margin-right: 0pt;"><font style="font-style: italic; display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"><font style="display: inline; text-decoration: underline;">Common Stock Issued for Cash</font></font></div>
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<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 63pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">On March 31, 2013, the Company issued 185,000 shares of common stock for $55,500 ($.30/share) for exercise of stock warrants.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 63pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 63pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">On May 28, 2012, the Company issued 480,000 shares of common stock for $1,464,000 ($3.05/share).</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 63pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 63pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">On March 30, 2012, the Company issued 425,000 shares of common stock for $85,000 ($.20/share) for exercise of stock warrants.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 63pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 63pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">On March 26, 2012, the Company entered into a stock subscription agreement for the sale of up to 500,000 shares of common stock in two installments.  On March 27, 2012, the Company sold 100,000 shares of common stock for $305,000 ($3.05/share) as the first installment of the subscription agreement.  On March 30, 2012, the Company sold 400,000 shares of common stock for $1,220,000 ($3.05/share) as the second installment of the subscription agreement.  These transactions closed in April, 2012 and the funds were released at that time.</font></div>
<div style="text-align: left; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 63pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The March 26, 2012 stock subscription agreement included a registration rights agreement.  The registration rights agreement stipulated a clause that the Company use commercially reasonable efforts to prepare and file a registration statement with the SEC within sixty (60) days after the agreement was signed on March 26, 2012.  The Company has filed such registration statement in accordance with the agreement.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 63pt; margin-right: 0pt;"> </div>
<div style="text-align: left; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">
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<div style="text-align: left; text-indent: 63pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="font-style: italic; display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"><font style="display: inline;">(B)</font></font></div>
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<div style="text-align: left; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="font-style: italic; display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"><font style="display: inline; text-decoration: underline;">Stock Issued for Services and Intellectual Property</font></font></div>
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<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 63pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 63pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">On December 19, 2012, the Company agreed to issue 15,000 restricted shares of the Company’s common stock, having a fair value of $44,850 ($2.99/share) on the grant date (See Note 5).</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 63pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 63pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">On August 1, 2012, the Company issued 7,000 shares of the Company’s common stock, having a fair value of $23,730 ($3.39/share) on the grant date (See Note 5).</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 63pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 63pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">On May 13, 2012, the Company issued 7,000 shares of the Company’s common stock, having a fair value of $28,000 ($4.00/share) on the grant date (See Note 5).</font></div>
<div
style="text-align: justify; text-indent: 0pt; display: block; margin-left: 63pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 63pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">On October 15, 2011, the Company issued 1,000 shares of the Company's common stock, having a fair value of $5,500 ($5.50 per share) on the grant date (See Note 5).</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 63pt; margin-right: 0pt;"> </div>
<div style="text-align: left; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">
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<div style="text-align: left; text-indent: 63pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="font-style: italic; display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"><font style="display: inline;">(C)</font></font></div>
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<div style="text-align: left; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="font-style: italic; display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"><font style="display: inline; text-decoration: underline;">Treasury Shares</font></font></div>
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<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 63pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">During the year ended September 30, 2012, the total of 2,500,000 shares of common stock held in treasury were cancelled.</font></div>
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<div style="text-align: left; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">
<table style="width: 100%; font-family: times new roman; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0">
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<div style="text-align: left; text-indent: 63pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="font-style: italic; display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"><font style="display: inline;">(D)</font></font></div>
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<div style="text-align: left; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="font-style: italic; display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"><font style="display: inline; text-decoration: underline;">Stock Warrants Issued for Intellectual Property</font></font></div>
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<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 63pt; margin-right: 0pt;"> </div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 63pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">On March 28, 2011, the Company granted 1,000,000 two year warrants having an exercise price of $0.20 per share within the first year and $.30 per share within the second year. The warrants vest immediately.  The Company has valued these warrants at their fair value using the Black-Scholes option pricing method.  The assumptions used were as follows:</font></div>
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<table style="width: 91%; font-family: times new roman; font-size: 10pt;" cellspacing="0" cellpadding="0">
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<td style="text-align: left; text-indent: 0pt; margin-left: 0pt; margin-right: 0pt;" valign="bottom">
<div style="text-align: left; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Expected life:</font></div>
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<td valign="bottom"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
<td style="text-align: right;" valign="bottom" colspan="2">
<div style="text-align: right; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">1 year</font></div>
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<td style="text-align: left;" valign="bottom" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
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<td valign="bottom" width="88%">
<div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Expected volatility:</font></div>
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<td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
<td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
<td style="text-align: right;" valign="bottom" width="9%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">29.1</font></td>
<td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">%</font></td>
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<td valign="bottom" width="88%">
<div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Risk free interest rate:</font></div>
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<td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
<td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
<td style="text-align: right;" valign="bottom" width="9%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">0.25</font></td>
<td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">%</font></td>
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<tr bgcolor="white">
<td valign="bottom" width="88%">
<div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Expected
dividends: </font></div>
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<td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
<td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
<td style="text-align: right;" valign="bottom" width="9%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">0</font></td>
<td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">%</font></td>
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</div>
<div style="text-indent: 0pt; display: block;"> </div>
<div align="justify" style="text-indent: 0pt; display: block; margin-left: 63pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The following table summarizes all warrant grants as of June 30, 2013, and the related changes during the nine months then ended: </font></div>
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<div align="right" style="text-align: right;">
<table style="text-align: right; width: 91%; font-family: times new roman; font-size: 10pt;" cellspacing="0" cellpadding="0">
<tr style="text-align: right;">
<td align="left" style="border-left: medium none; padding-bottom: 2px; border-top: medium none;" valign="bottom"><font style="display: inline; font-family: times new roman; font-size: 10pt;">  </font></td>
<td style="padding-bottom: 2px; border-top: medium none;" valign="bottom"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"> </font></td>
<td style="border-bottom: black 2px solid; border-top: medium none;" valign="bottom" colspan="2">
<div align="center" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">Number of </font></div>
<div align="center" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">Warrants</font></div>
</td>
<td style="text-align: left; padding-bottom: 2px; border-top: medium none;" valign="bottom" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"> </font></td>
<td style="padding-bottom: 2px; border-top: medium none;" valign="bottom"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"> </font></td>
<td style="border-bottom: black 2px solid; border-top: medium none;" valign="bottom" colspan="2">
<div align="center" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">Weighted Average Exercise Price</font></div>
</td>
<td style="text-align: left; padding-bottom: 2px; border-top: medium none;" valign="bottom" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"> </font></td>
</tr>
<tr>
<td align="left" style="border-left: medium none;" valign="bottom">
<div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">Stock Warrants</font></div>
</td>
<td align="left" valign="bottom"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
<td align="left" valign="bottom" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
<td style="text-align: left;" valign="bottom" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
<td align="left" valign="bottom"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
<td align="left" valign="bottom" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
<td style="text-align: left;" valign="bottom" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
</tr>
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<td align="left" style="border-left: medium none;" valign="bottom" width="76%">
<div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Balance at September 30, 2012</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
<td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
<td style="text-align: right;" valign="bottom" width="9%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">575,000</font></td>
<td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
<td align="right" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
<td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">$</font></td>
<td style="text-align: right;" valign="bottom" width="9%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">0.20</font></td>
<td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
</tr>
<tr bgcolor="white">
<td align="left" style="border-left: medium none;" valign="bottom" width="76%">
<div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Granted</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
<td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
<td style="text-align: right;" valign="bottom" width="9%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td>
<td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
<td align="left" valign="bottom"
width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
<td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
<td style="text-align: right;" valign="bottom" width="9%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td>
<td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
</tr>
<tr bgcolor="#cceeff">
<td align="left" style="border-left: medium none;" valign="bottom" width="76%">
<div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Exercised</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
<td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
<td style="text-align: right;" valign="bottom" width="9%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">(185,000</font></td>
<td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">)</font></td>
<td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
<td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">$</font></td>
<td style="text-align: right;" valign="bottom" width="9%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">0.30</font></td>
<td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
</tr>
<tr bgcolor="white">
<td align="left" style="border-left: medium none;" valign="bottom" width="76%">
<div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Expired</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
<td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
<td style="text-align: right;" valign="bottom" width="9%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">(390,000</font></td>
<td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">)</font></td>
<td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
<td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">$</font></td>
<td style="text-align: right;" valign="bottom" width="9%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">0.30</font></td>
<td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
</tr>
<tr bgcolor="#cceeff">
<td align="left" style="border-left: medium none;" valign="bottom" width="76%">
<div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Balance at June 30, 2013</font></div>
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<td align="right" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
<td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
<td style="text-align: right;" valign="bottom" width="9%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td>
<td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
<td align="right" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
<td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
<td style="text-align: right;" valign="bottom" width="9%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td>
<td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
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<tr bgcolor="white">
<td align="left" style="border-left: medium none;" valign="bottom" width="76%">
<div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Warrants Exercisable at June 30, 2013</font></div>
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<td align="right" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
<td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
<td style="text-align: right;" valign="bottom" width="9%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td>
<td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
<td align="right" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
<td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
<td style="text-align: right;" valign="bottom" width="9%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td>
<td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font></td>
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