Significant Accounting Policies (Tables)

12 Months Ended

Sep. 30, 2012

Significant Accounting Policies Tables

Assets and liabilites measured at fair value on recurring basis

The following table presents assets and liabilities that are measured and recognized at fair value as of September 30, 2012 and 2011 on a recurring basis:

September 30, 2012

Description	Level 1		Level 2		Level 3		Total Gains and (Losses)
Derivative		-		-		(468,884)		(264,027)
Total	$	-	$	-	$	(468,884)	$	(264,027)

September 30, 2011

Description	Level 1		Level 2		Level 3		Total Gains and (Losses)
Derivative		-		-		(116,504)		(50,990)
Total	$	-	$	-	$	(116,504)	$	(50,990)

Net deferred tax asset

Net deferred tax assets consist of the following components as of September 30:

		2012		2011
NOL	$	(602,324)	$	(277,605)
Net Loss		(1,881,717)		(1,448,150)
Bad debt expense		-		70,365
Loss on impairment		818,521		-
Loss on debt settlement		537		-
Amortization expense		31,479		-
Loss on derivative liability		264,027		50,990
Debt discount amortization		160,704		9,516
Common stock for Director's fees		-		38,000
Common stock for other services		66,459		384,560
Common stock for compensation		25,713		570,000
NOL at end of period	$	(1,116,601)	$	(602,324)
Effective Rate		0.34		0.34
Deferred Tax Asset		(379,644)		(204,790)
Valuation		379,644		204,790
Deferred Tax Asset	$	-	$	-