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10-Q
2014-09-30
false
Rangeford Resources, Inc.
0001438035
--03-31
20016821
Smaller Reporting Company
Yes
No
No
2015
Q2
<!--egx--><p style='margin:0in;margin-bottom:.0001pt'><b><font lang="EN-US">NOTE 1 – CONDENSED FINANCIAL STATEMENTS</font></b></p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the US (US GAAP) for interim financial information, with the instructions to Form 10-Q, and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by US GAAP for complete financial statements.  The accompanying financial statements at September 30, 2014 and 2013 and for the six months ended September 30, 2014 and 2013 contain all normally recurring adjustments considered necessary for a fair presentation of our financial position, results of operations, cash flows and shareholders’ equity for such periods.  Operating results for the six months ended September 30, 2014 are not necessarily indicative of the results that may be expected for the year ending March 31, 2015.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p><b><font lang="EN-US">Reclassifications</font></b></p> <p> </p> <p style='text-align:justify'><font lang="EN-US">Certain amounts in the September 30, 2013 financial statements have been reclassified to conform to the September 30, 2014 presentation.</font></p>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt'><b><font lang="EN-US">NOTE 2 – GOING CONCERN</font></b></p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">The Company’s financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management’s plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking equity and/or debt financing. However management cannot provide any assurances that the Company will be successful in accomplishing any of its plans.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.</font></p>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b><font lang="EN-US">NOTE 3 – RECENT ACCOUNTING PRONOUNCEMENTS</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">On June 10, 2014, FASB issued Accounting Standards Update No. 2014-10, <i>Development Stage Entities</i>. The update removes the definition of a development stage entity from FASB ASC 915 and eliminates the requirement for development stage entities to present inception-to-date information on the statements of operations, cash flows and stockholders’ deficit. Earlier the Company elected to adopt this standard for the period covered by the report herein.</font></p>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b><font lang="EN-US" style='text-transform:uppercase'>Note 4 – DEBT ISSUANCE COSTS</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">On September 4, 2013, the Company received a $</font><font lang="EN-US">750,000 </font><font lang="EN-US">Revolving Credit Note from Cicerone Corporate Development, LLC (a related party).  The Cicerone Revolving Note matures on </font><font lang="EN-US">February 1, 2015 </font><font lang="EN-US">and bears interest at the rate of LIBOR plus </font><font lang="EN-US">2.75</font><font lang="EN-US">% per annum, which is payable semi-annually on June 30 and December 31 of each year. As an inducement to entering into the Cicerone Revolving Note, the Company issued Cicerone </font><font lang="EN-US">1,500,000 </font><font lang="EN-US">shares of common stock.  The shares of unregistered common stock had a relative fair value of approximately $164,338 as of September 4, 2013, which is being amortized over the term of the note as additional interest expense.  Additional interest expense of $3,735 and $7,030 was recorded in the Company’s statements of operations for the three and six months ended September 30, 2014, respectively.  Additional interest expense of $1,341 and $2,023 was recorded in the Company’s statements of operations for the three and six months ended September 30, 2013, respectively.</font></p>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt'><b><font lang="EN-US" style='text-transform:uppercase'>Note 5 – Related Party Notes Payable and Advances</font></b></p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">On November 1, 2012, the Company entered into a note agreement with a shareholder and former director of the Company, pursuant to which the Company borrowed $</font><font lang="EN-US">100,000 </font><font lang="EN-US">from the shareholder which was payable in 60 days with interest at </font><font lang="EN-US">6</font><font lang="EN-US">% per annum (the “Hadley Note”). Proceeds from the Hadley Note were paid directly to GNE as a deposit to purchase certain oil and gas assets (see Note 3). The Hadley Note was payable in 60 days with interest at 6% per annum. In accordance with the terms of the note, the Company agreed to issue </font><font lang="EN-US">250,000 </font> <font lang="EN-US">shares of unregistered common stock to the shareholder. The shares of unregistered common stock had a relative fair value of approximately $</font><font lang="EN-US">71,631 </font><font lang="EN-US">as of November 1, 2012, which was recorded as additional interest expense over the 60 day term of the note.  As of September 30, 2014, all </font><font lang="EN-US">250,000 </font><font lang="EN-US">shares were issued to Hadley.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">Upon the Company’s receipt of a Subscription Agreement and request to convert same from Mr. Hadley, on September 27, 2013, the Company’s Board of Directors approved via unanimous written consent to convert the Hadley Note into 20,000 shares of the Company’s Series A Preferred Stock in connection with a Subscription Agreement and request for such conversion from Mr. Hadley; on the same day, 20,000 shares of Series A Preferred Stock were issued to Mr. Hadley. Pursuant to the conversion of the Hadley Note, the Company would not have any further liability to Mr. Hadley thereunder. Mr. Hadley has informed the Company that he does not agree with the history and current status of the Hadley Note and therefore the parties are currently discussing a resolution.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">No gain or loss will be recognized on settlement of the debt because the fair value of the preferred stock issued is equal to the carrying value of the debt. The Company recognized and measured an aggregate of $</font><font lang="EN-US">64,632 </font><font lang="EN-US">of the proceeds, which is equal to the intrinsic value of the embedded beneficial conversion feature, to additional paid-in capital and a discount against the Preferred Stock. The preferred stock discount of $</font><font lang="EN-US">64,632</font><font lang="EN-US">, attributed to the beneficial conversion feature, is recognized as a deemed preferred stock dividend, additionally the Company will recognize the value attributable to the warrants in the amount of $</font><font lang="EN-US">89,837 </font><font lang="EN-US">to additional paid in capital and a discount against the preferred stock upon the conversion of the preferred stock into warrants.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">On November 28, 2012, the CE McMillan Family Trust (the "CE Trust") advanced the Company $</font><font lang="EN-US">100</font><font lang="EN-US"> to facilitate the opening of a new bank account in Irving, Texas. The trustee of the C.E. McMillan Family Trust is also the managing member of Fidare Consulting Group, LLC ("Fidare") and Cicerone Corporate Development, LLC ("Cicerone").<b> </b>The advance had not been repaid as of September 30, 2014. (See Note 5)</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-US">At various times during the quarters ended September 30, 2014 and 2013, Cicerone Corporate Development, LLC (a related party) advanced funds to the Company for operating expenses. During the quarter ended September 30, 2014 and 2013, Cicerone advanced a total of $</font><font lang="EN-US">175,742 </font><font lang="EN-US">and $</font><font lang="EN-US">133,066</font><font lang="EN-US">, respectively to the company.  Cicerone is a stockholder of the Company. (See Note 5)</font></p>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt'><b><font lang="EN-US">NOTE 6 – RELATED PARTY TRANSACTIONS</font></b></p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">Harry McMillan is trustee of the C.E. McMillan Family Trust, which Trust serves as the managing member of Fidare Consulting Group, LLC (“Fidare”) and Cicerone Corporate Development, LLC (“Cicerone”). Mr. McMillan is the Trustee for the benefit of his wife, Christy McMillan and their children, and is also a member of each of Fidare and Cicerone.  Each of these entities, as well as certain beneficiaries of the Trust, own shares of our common stock and therefore, Mr. McMillan and the Trust may be deemed to beneficially own such shares. Each disclaims beneficial ownership of such shares.</font></p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='text-align:justify'><u><font lang="EN-US">Professional Services</font></u></p> <p style='text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">In September 2012, the Company entered into a professional services contract with Fidare Consulting Group, LLC (Fidare) to provide consulting services relating to corporate governance, accounting procedures and controls and strategic planning. In accordance with the terms of the original contract, Fidare receives monthly compensation of 20,000 common shares per month and warrants to purchase 20,000 common shares with an exercise price equal to the closing sale price of the Company’s common stock on the date of issuance, plus reasonable and necessary expenses. The warrants are exercisable at any time for two years from the date of issuance and may be settled on a net basis. In December 2012, the contract was amended to provide for monthly compensation of $20,000 per month plus warrants to purchase 20,000 common shares on the same terms described above. </font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">The Consulting Agreement with Fidare was terminated on February 28, 2013 with an effective date of April 4, 2013.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">On June 26, 2013, the Company entered into a new Consulting Agreement with Fidare to provide consulting services relating to corporate governance, accounting procedures and control and strategic planning In accordance with the terms of the Consulting Agreement, Fidare receives monthly compensation of shares of common stock valued at $</font><font lang="EN-US">20,000 </font><font lang="EN-US">based on the price at the close on the last trading day of each month and </font><font lang="EN-US">20,000 </font><font lang="EN-US">warrants to purchase common stock, with each warrant having an exercise price equal to the closing sale price of the Common Stock on the date of issue and providing for a cashless or net issue exercise.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">On July 1, 2014, the Consulting Agreement with Fidare was amended so Fidare will receive only monthly compensation shares of common stock valued at $</font><font lang="EN-US">20,000 </font><font lang="EN-US">based on the price at the close on the last trading day of each month.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">As of September 30, 2014, </font><font lang="EN-US">173,244 </font><font lang="EN-US">shares of common stock and </font><font lang="EN-US">440,000 </font><font lang="EN-US">warrants had been issued to Fidare.  The managing member of Fidare is the C.E. McMillan Family Trust. Harry McMillan is trustee of the C.E. McMillan Family Trust.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">The company recognized $</font><font lang="EN-US">313,540 </font><font lang="EN-US">and $</font><font lang="EN-US">523,856 </font><font lang="EN-US">in professional fees to related parties for the six months ended September 30, 2014 and 2013, respectively.</font></p>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt'><b><font lang="EN-US">NOTE 7 – WARRANTS</font></b></p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">The fair value of each warrant granted is estimated on the date of grant using the Black-Scholes option valuation model that uses the assumptions noted in the following table. Expected volatilities are based on volatilities from similar companies given our limited trading history.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">The expected term of warrants granted is estimated at the contractual term as noted in the individual warrant agreements and represents the period of time that warrants granted are expected to be outstanding. The risk-free rate for the periods within the contractual life of the warrant is based on the U.S. Treasury bill rate in effect at the time of grant for treasury bills with maturity dates at the estimated term of the warrants.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">A summary of warrant activity as of September 30, 2014 and changes during the period then ended are presented below:</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="48%" style='width:48.68%;border-collapse:collapse'> <tr style='height:15.0pt'> <td width="76%" style='width:76.94%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">Expected volatility</font></p> </td> <td width="23%" style='width:23.06%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">       </font><font lang="EN-US">207</font><font lang="EN-US">%</font></p> </td> </tr> <tr style='height:15.0pt'> <td width="76%" style='width:76.94%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">Expected dividends</font></p> </td> <td width="23%" style='width:23.06%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">             </font><font lang="EN-US">0</font><font lang="EN-US"> </font></p> </td> </tr> <tr style='height:15.0pt'> <td width="76%" style='width:76.94%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">Expected term (in years)</font></p> </td> <td width="23%" style='width:23.06%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">             </font><font lang="EN-US">2</font><font lang="EN-US"> </font></p> </td> </tr> <tr style='height:15.0pt'> <td width="76%" style='width:76.94%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">Risk-free rate</font></p> </td> <td width="23%" style='width:23.06%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">      </font><font lang="EN-US">0.42</font><font lang="EN-US">%</font></p> </td> </tr> <tr style='height:15.0pt'> <td width="76%" style='width:76.94%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="23%" style='width:23.06%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> </tr> </table> </div> <p style='margin:0in;margin-bottom:.0001pt'> </p> <table border="0" cellspacing="0" cellpadding="0" width="88%" style='width:88.88%;border-collapse:collapse'> <tr style='height:60.0pt'> <td width="34%" valign="bottom" style='width:34.04%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><u><font lang="EN-US">Stock Warrants</font></u></p> </td> <td width="11%" valign="bottom" style='width:11.26%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><u><font lang="EN-US">Number of Warrants</font></u></p> </td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="15%" valign="bottom" style='width:15.14%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><u><font lang="EN-US">Weighted Average Exercise Price</font></u></p> </td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.74%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><u><font lang="EN-US">Weighted Average Remaining Contractual Term (in years)</font></u></p> </td> <td width="2%" valign="top" style='width:2.9%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.02%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><u><font lang="EN-US">Aggregate Intrinsic Value</font></u></p> </td> </tr> <tr style='height:15.0pt'> <td width="34%" valign="bottom" style='width:34.04%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="11%" valign="bottom" style='width:11.26%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="15%" valign="bottom" style='width:15.14%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.74%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.9%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.02%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> </tr> <tr style='height:15.0pt'> <td width="34%" valign="bottom" style='width:34.04%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Balance: April 1, 2014</font></p> </td> <td width="11%" valign="bottom" style='width:11.26%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">  280,000</font></p> </td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="15%" valign="bottom" style='width:15.14%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">   $         </font><font lang="EN-US">5.24</font></p> </td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.74%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">               </font><font lang="EN-US">2</font></p> </td> <td width="2%" valign="top" style='width:2.9%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.02%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">   $                    -</font><font lang="EN-US">0</font><font lang="EN-US">-</font></p> </td> </tr> <tr style='height:15.0pt'> <td width="34%" valign="bottom" style='width:34.04%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="11%" valign="bottom" style='width:11.26%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="15%" valign="bottom" style='width:15.14%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.74%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.9%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.02%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> </tr> <tr style='height:15.0pt'> <td width="34%" valign="bottom" style='width:34.04%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Granted</font></p> </td> <td width="11%" valign="bottom" style='width:11.26%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">  </font><font lang="EN-US">120,000</font></p> </td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="15%" valign="bottom" style='width:15.14%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">   $         </font><font lang="EN-US">4.40</font></p> </td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.74%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">               </font><font lang="EN-US">2</font></p> </td> <td width="2%" valign="top" style='width:2.9%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.02%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">   $                    -</font><font lang="EN-US">0</font><font lang="EN-US">-</font></p> </td> </tr> <tr style='height:15.0pt'> <td width="34%" valign="bottom" style='width:34.04%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Exercised</font></p> </td> <td width="11%" valign="bottom" style='width:11.26%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">                </font><font lang="EN-US">-</font></p> </td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="15%" valign="bottom" style='width:15.14%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">   $                </font><font lang="EN-US">-</font></p> </td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.74%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.9%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.02%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">   $                        </font><font lang="EN-US">-</font></p> </td> </tr> <tr style='height:16.8pt'> <td width="34%" valign="bottom" style='width:34.04%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Expired</font></p> </td> <td width="11%" valign="bottom" style='width:11.26%;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">                </font><font lang="EN-US">- </font></p> </td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="15%" valign="bottom" style='width:15.14%;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">                     </font><font lang="EN-US">-</font></p> </td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.74%;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="2%" valign="top" style='width:2.9%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.02%;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">                             </font><font lang="EN-US">-</font></p> </td> </tr> <tr style='height:16.8pt'> <td width="34%" valign="bottom" style='width:34.04%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="11%" valign="bottom" style='width:11.26%;border:none;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="15%" valign="bottom" style='width:15.14%;border:none;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.74%;border:none;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="2%" valign="top" style='width:2.9%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.02%;border:none;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> </tr> <tr style='height:16.8pt'> <td width="34%" valign="bottom" style='width:34.04%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Balance:  September 30, 2014</font></p> </td> <td width="11%" valign="bottom" style='width:11.26%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">  </font><font lang="EN-US">400,000</font></p> </td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="15%" valign="bottom" style='width:15.14%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">   $         </font><font lang="EN-US">4.99</font></p> </td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.74%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">               </font><font lang="EN-US">2</font></p> </td> <td width="2%" valign="top" style='width:2.9%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.02%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">   $                    -</font><font lang="EN-US">0</font><font lang="EN-US">-</font></p> </td> </tr> <tr style='height:15.0pt'> <td width="34%" valign="bottom" style='width:34.04%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="11%" valign="bottom" style='width:11.26%;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="15%" valign="bottom" style='width:15.14%;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.74%;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.9%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.02%;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> </tr> <tr style='height:16.8pt'> <td width="34%" valign="bottom" style='width:34.04%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Warrants exercisable at September 30, 2014</font></p> </td> <td width="11%" valign="bottom" style='width:11.26%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">  </font><font lang="EN-US">400,000</font></p> </td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="15%" valign="bottom" style='width:15.14%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">   $         </font><font lang="EN-US">4.99</font></p> </td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.74%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">               </font><font lang="EN-US">2</font></p> </td> <td width="2%" valign="top" style='width:2.9%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.02%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">   $                    -</font><font lang="EN-US">0</font><font lang="EN-US">-</font></p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">No Warrant expense recognized during the three months ended September 30, 2014.  Warrant expense of $</font><font lang="EN-US">193,540 </font><font lang="EN-US">was included in professional fees and $193,540 was included in professional fees-related party for the six months ended September 30, 2014.</font></p>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt'><b><font lang="EN-US">NOTE 8 – OPTIONS</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">The fair value of each option granted is estimated on the date of grant using the Black-Scholes option valuation model that uses the assumptions noted in the following table. Expected volatilities are based on volatilities from similar companies given our limited trading history. </font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">The expected term of options granted is estimated at the contractual term as noted in the individual option agreements and represents the period of time that options granted are expected to be outstanding. The risk-free rate for the periods within the contractual life of the option is based on the U.S. Treasury bill rate in effect at the time of grant for treasury bills with maturity dates at the estimated term of the options.</font></p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-US">A summary of option activity as of September 30, 2014 and changes during the period then ended are presented below:</font></p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <table border="0" cellspacing="0" cellpadding="0" width="93%" style='border-collapse:collapse'> <tr style='height:60.0pt'> <td width="35%" valign="bottom" style='width:35.52%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-top:0in;margin-right:48.5pt;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt;line-height:normal'><u><font lang="EN-US">Options</font></u></p> </td> <td width="14%" valign="bottom" style='width:14.1%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><u><font lang="EN-US">Number of Options</font></u></p> </td> <td width="3%" valign="top" style='width:3.02%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.0%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><u><font lang="EN-US">Weighted Average Exercise Price</font></u></p> </td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="10%" valign="bottom" style='width:10.96%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><u><font lang="EN-US">Weighted Average Remaining Contractual Term (in years)</font></u></p> </td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.1%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><u><font lang="EN-US">Aggregate Intrinsic Value</font></u></p> </td> </tr> <tr style='height:15.0pt'> <td width="35%" valign="bottom" style='width:35.52%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="14%" valign="bottom" style='width:14.1%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="3%" valign="top" style='width:3.02%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.0%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="10%" valign="bottom" style='width:10.96%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.1%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> </tr> <tr style='height:15.0pt'> <td width="35%" valign="bottom" style='width:35.52%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Balance: April 1, 2014</font></p> </td> <td width="14%" valign="bottom" style='width:14.1%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">                </font><font lang="EN-US">-</font></p> </td> <td width="3%" valign="top" style='width:3.02%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.0%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font lang="EN-US">$</font><font lang="EN-US"> -</font></p> </td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="10%" valign="bottom" style='width:10.96%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.1%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font lang="EN-US">$ </font><font lang="EN-US">-</font></p> </td> </tr> <tr style='height:15.0pt'> <td width="35%" valign="bottom" style='width:35.52%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="14%" valign="bottom" style='width:14.1%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="3%" valign="top" style='width:3.02%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.0%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="10%" valign="bottom" style='width:10.96%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.1%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> </tr> <tr style='height:15.0pt'> <td width="35%" valign="bottom" style='width:35.52%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Granted</font></p> </td> <td width="14%" valign="bottom" style='width:14.1%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">  </font><font lang="EN-US">308,000</font></p> </td> <td width="3%" valign="top" style='width:3.02%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.0%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font lang="EN-US">$ </font><font lang="EN-US">2.299</font></p> </td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="10%" valign="bottom" style='width:10.96%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font lang="EN-US">2.6</font></p> </td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.1%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font lang="EN-US">$ </font><font lang="EN-US">-</font></p> </td> </tr> <tr style='height:15.0pt'> <td width="35%" valign="bottom" style='width:35.52%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Exercised</font></p> </td> <td width="14%" valign="bottom" style='width:14.1%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">                </font><font lang="EN-US">-</font></p> </td> <td width="3%" valign="top" style='width:3.02%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.0%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font lang="EN-US">-</font></p> </td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="10%" valign="bottom" style='width:10.96%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.1%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font lang="EN-US">-</font></p> </td> </tr> <tr style='height:16.8pt'> <td width="35%" valign="bottom" style='width:35.52%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Expired</font></p> </td> <td width="14%" valign="bottom" style='width:14.1%;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">                </font><font lang="EN-US">-</font></p> </td> <td width="3%" valign="top" style='width:3.02%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.0%;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font lang="EN-US">-</font></p> </td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="10%" valign="bottom" style='width:10.96%;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.1%;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font lang="EN-US">-</font></p> </td> </tr> <tr style='height:16.8pt'> <td width="35%" valign="bottom" style='width:35.52%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="14%" valign="bottom" style='width:14.1%;border:none;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="3%" valign="top" style='width:3.02%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.0%;border:none;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="10%" valign="bottom" style='width:10.96%;border:none;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.1%;border:none;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> </tr> <tr style='height:16.8pt'> <td width="35%" valign="bottom" style='width:35.52%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Balance:  September 30, 2014</font></p> </td> <td width="14%" valign="bottom" style='width:14.1%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">  </font><font lang="EN-US">308,000</font></p> </td> <td width="3%" valign="top" style='width:3.02%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.0%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font lang="EN-US">$ </font><font lang="EN-US">2.299</font></p> </td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="10%" valign="bottom" style='width:10.96%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font lang="EN-US">2.6</font></p> </td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.1%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font lang="EN-US">$</font><font lang="EN-US">-</font></p> </td> </tr> <tr style='height:15.0pt'> <td width="35%" valign="bottom" style='width:35.52%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="14%" valign="bottom" style='width:14.1%;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="3%" valign="top" style='width:3.02%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.0%;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="10%" valign="bottom" style='width:10.96%;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.1%;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> </tr> <tr style='height:16.8pt'> <td width="35%" valign="bottom" style='width:35.52%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Options exercisable at September 30, 2014</font></p> </td> <td width="14%" valign="bottom" style='width:14.1%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">  </font><font lang="EN-US">308,000</font></p> </td> <td width="3%" valign="top" style='width:3.02%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.0%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font lang="EN-US">$ </font><font lang="EN-US">2.299</font></p> </td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="10%" valign="bottom" style='width:10.96%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font lang="EN-US">2.6</font></p> </td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.1%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font lang="EN-US">$</font><font lang="EN-US">-</font></p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-US">No Option expense was recognized during the three months ended September 30, 2014.  Option expense of $</font><font lang="EN-US">1,179,395 </font><font lang="EN-US">was included in professional fees for the six months ended September 30, 2014.</font></p> <p style='margin:0in;margin-bottom:.0001pt'> </p>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt'><b><font lang="EN-US" style='text-transform:uppercase'>note 9 – common stock</font></b></p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-US">On August 7, 2014, the Company issued PT Platinum Consulting, LLC </font><font lang="EN-US">38,686 </font><font lang="EN-US">shares of common stock valued at $</font><font lang="EN-US">62,448 </font><font lang="EN-US">to settle outstanding invoices for professional services.</font></p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-US">On August 7, 2014, the Company issued </font><font lang="EN-US">60,406 </font><font lang="EN-US">shares of common stock valued at $</font><font lang="EN-US">91,378 </font><font lang="EN-US">to pay cumulative preferred stock dividends on the outstanding Series A Convertible Preferred Stock.</font></p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">During the six months ended September 30, 2014, the Company issued Fidare Consulting Group </font><font lang="EN-US">42,171 </font><font lang="EN-US">shares of common stock valued at $</font><font lang="EN-US">120,000</font><font lang="EN-US">.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">During the six months ended September 30, 2014, the Company issued Mr. Richardson </font><font lang="EN-US">42,171 </font><font lang="EN-US">shares of common stock value at $</font><font lang="EN-US">120,000</font><font lang="EN-US">.</font></p> <p style='margin:0in;margin-bottom:.0001pt'> </p>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt'><b><font lang="EN-US" style='text-transform:uppercase'>Note 10 – Commitments and Contingencies</font></b></p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-US">We have recently become aware of a letter dated December 17, 2012 from Dr. Steven Henson to Michael Farmer, who at time was not a director or officer of Rangeford, with regard to our offering of up to $</font><font lang="EN-US">3,000,000 </font><font lang="EN-US">of our preferred stock in connection with our proposed acquisition of certain properties from Great Northern Energy, Inc. In the letter, Dr. Henson, who at the time was the President and Chairman of the Board of Rangeford, purports to grant a right of rescission to certain investors in the event that we were unable to raise the full amount of funds necessary to acquire the subject properties from Great Northern Energy. This right of rescission was never approved by our Board of Directors and it is our position that Dr. Henson acted without proper authority in providing the letter to Mr. Farmer, as the representative of certain investors. At this point no claim has been made by any of the investors, who invested approximately $300,000 in Rangeford and we have no reason to assume that a claim will ultimately be made.</font></p>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="48%" style='width:48.68%;border-collapse:collapse'> <tr style='height:15.0pt'> <td width="76%" style='width:76.94%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">Expected volatility</font></p> </td> <td width="23%" style='width:23.06%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">       </font><font lang="EN-US">207</font><font lang="EN-US">%</font></p> </td> </tr> <tr style='height:15.0pt'> <td width="76%" style='width:76.94%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">Expected dividends</font></p> </td> <td width="23%" style='width:23.06%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">             </font><font lang="EN-US">0</font><font lang="EN-US"> </font></p> </td> </tr> <tr style='height:15.0pt'> <td width="76%" style='width:76.94%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">Expected term (in years)</font></p> </td> <td width="23%" style='width:23.06%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">             </font><font lang="EN-US">2</font><font lang="EN-US"> </font></p> </td> </tr> <tr style='height:15.0pt'> <td width="76%" style='width:76.94%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">Risk-free rate</font></p> </td> <td width="23%" style='width:23.06%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">      </font><font lang="EN-US">0.42</font><font lang="EN-US">%</font></p> </td> </tr> <tr style='height:15.0pt'> <td width="76%" style='width:76.94%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="23%" style='width:23.06%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> </tr> </table> </div>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt'> </p> <table border="0" cellspacing="0" cellpadding="0" width="88%" style='width:88.88%;border-collapse:collapse'> <tr style='height:60.0pt'> <td width="34%" valign="bottom" style='width:34.04%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><u><font lang="EN-US">Stock Warrants</font></u></p> </td> <td width="11%" valign="bottom" style='width:11.26%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><u><font lang="EN-US">Number of Warrants</font></u></p> </td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="15%" valign="bottom" style='width:15.14%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><u><font lang="EN-US">Weighted Average Exercise Price</font></u></p> </td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.74%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><u><font lang="EN-US">Weighted Average Remaining Contractual Term (in years)</font></u></p> </td> <td width="2%" valign="top" style='width:2.9%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.02%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><u><font lang="EN-US">Aggregate Intrinsic Value</font></u></p> </td> </tr> <tr style='height:15.0pt'> <td width="34%" valign="bottom" style='width:34.04%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="11%" valign="bottom" style='width:11.26%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="15%" valign="bottom" style='width:15.14%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.74%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.9%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.02%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> </tr> <tr style='height:15.0pt'> <td width="34%" valign="bottom" style='width:34.04%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Balance: April 1, 2014</font></p> </td> <td width="11%" valign="bottom" style='width:11.26%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">  280,000</font></p> </td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="15%" valign="bottom" style='width:15.14%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">   $         </font><font lang="EN-US">5.24</font></p> </td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.74%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">               </font><font lang="EN-US">2</font></p> </td> <td width="2%" valign="top" style='width:2.9%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.02%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">   $                    -</font><font lang="EN-US">0</font><font lang="EN-US">-</font></p> </td> </tr> <tr style='height:15.0pt'> <td width="34%" valign="bottom" style='width:34.04%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="11%" valign="bottom" style='width:11.26%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="15%" valign="bottom" style='width:15.14%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.74%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.9%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.02%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> </tr> <tr style='height:15.0pt'> <td width="34%" valign="bottom" style='width:34.04%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Granted</font></p> </td> <td width="11%" valign="bottom" style='width:11.26%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">  </font><font lang="EN-US">120,000</font></p> </td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="15%" valign="bottom" style='width:15.14%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">   $         </font><font lang="EN-US">4.40</font></p> </td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.74%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">               </font><font lang="EN-US">2</font></p> </td> <td width="2%" valign="top" style='width:2.9%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.02%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">   $                    -</font><font lang="EN-US">0</font><font lang="EN-US">-</font></p> </td> </tr> <tr style='height:15.0pt'> <td width="34%" valign="bottom" style='width:34.04%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Exercised</font></p> </td> <td width="11%" valign="bottom" style='width:11.26%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">                </font><font lang="EN-US">-</font></p> </td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="15%" valign="bottom" style='width:15.14%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">   $                </font><font lang="EN-US">-</font></p> </td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.74%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.9%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.02%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">   $                        </font><font lang="EN-US">-</font></p> </td> </tr> <tr style='height:16.8pt'> <td width="34%" valign="bottom" style='width:34.04%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Expired</font></p> </td> <td width="11%" valign="bottom" style='width:11.26%;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">                </font><font lang="EN-US">- </font></p> </td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="15%" valign="bottom" style='width:15.14%;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">                     </font><font lang="EN-US">-</font></p> </td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.74%;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="2%" valign="top" style='width:2.9%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.02%;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">                             </font><font lang="EN-US">-</font></p> </td> </tr> <tr style='height:16.8pt'> <td width="34%" valign="bottom" style='width:34.04%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="11%" valign="bottom" style='width:11.26%;border:none;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="15%" valign="bottom" style='width:15.14%;border:none;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.74%;border:none;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="2%" valign="top" style='width:2.9%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.02%;border:none;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> </tr> <tr style='height:16.8pt'> <td width="34%" valign="bottom" style='width:34.04%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Balance:  September 30, 2014</font></p> </td> <td width="11%" valign="bottom" style='width:11.26%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">  </font><font lang="EN-US">400,000</font></p> </td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="15%" valign="bottom" style='width:15.14%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">   $         </font><font lang="EN-US">4.99</font></p> </td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.74%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">               </font><font lang="EN-US">2</font></p> </td> <td width="2%" valign="top" style='width:2.9%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.02%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">   $                    -</font><font lang="EN-US">0</font><font lang="EN-US">-</font></p> </td> </tr> <tr style='height:15.0pt'> <td width="34%" valign="bottom" style='width:34.04%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="11%" valign="bottom" style='width:11.26%;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="15%" valign="bottom" style='width:15.14%;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.74%;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.9%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.02%;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> </tr> <tr style='height:16.8pt'> <td width="34%" valign="bottom" style='width:34.04%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Warrants exercisable at September 30, 2014</font></p> </td> <td width="11%" valign="bottom" style='width:11.26%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">  </font><font lang="EN-US">400,000</font></p> </td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="15%" valign="bottom" style='width:15.14%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">   $         </font><font lang="EN-US">4.99</font></p> </td> <td width="2%" valign="top" style='width:2.46%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.74%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">               </font><font lang="EN-US">2</font></p> </td> <td width="2%" valign="top" style='width:2.9%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.02%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">   $                    -</font><font lang="EN-US">0</font><font lang="EN-US">-</font></p> </td> </tr> </table>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt'> </p> <table border="0" cellspacing="0" cellpadding="0" width="93%" style='border-collapse:collapse'> <tr style='height:60.0pt'> <td width="35%" valign="bottom" style='width:35.52%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-top:0in;margin-right:48.5pt;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt;line-height:normal'><u><font lang="EN-US">Options</font></u></p> </td> <td width="14%" valign="bottom" style='width:14.1%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><u><font lang="EN-US">Number of Options</font></u></p> </td> <td width="3%" valign="top" style='width:3.02%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.0%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><u><font lang="EN-US">Weighted Average Exercise Price</font></u></p> </td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="10%" valign="bottom" style='width:10.96%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><u><font lang="EN-US">Weighted Average Remaining Contractual Term (in years)</font></u></p> </td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.1%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><u><font lang="EN-US">Aggregate Intrinsic Value</font></u></p> </td> </tr> <tr style='height:15.0pt'> <td width="35%" valign="bottom" style='width:35.52%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="14%" valign="bottom" style='width:14.1%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="3%" valign="top" style='width:3.02%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.0%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="10%" valign="bottom" style='width:10.96%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.1%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> </tr> <tr style='height:15.0pt'> <td width="35%" valign="bottom" style='width:35.52%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Balance: April 1, 2014</font></p> </td> <td width="14%" valign="bottom" style='width:14.1%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">                </font><font lang="EN-US">-</font></p> </td> <td width="3%" valign="top" style='width:3.02%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.0%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font lang="EN-US">$</font><font lang="EN-US"> -</font></p> </td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="10%" valign="bottom" style='width:10.96%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.1%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font lang="EN-US">$ </font><font lang="EN-US">-</font></p> </td> </tr> <tr style='height:15.0pt'> <td width="35%" valign="bottom" style='width:35.52%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="14%" valign="bottom" style='width:14.1%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="3%" valign="top" style='width:3.02%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.0%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="10%" valign="bottom" style='width:10.96%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.1%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> </tr> <tr style='height:15.0pt'> <td width="35%" valign="bottom" style='width:35.52%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Granted</font></p> </td> <td width="14%" valign="bottom" style='width:14.1%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">  </font><font lang="EN-US">308,000</font></p> </td> <td width="3%" valign="top" style='width:3.02%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.0%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font lang="EN-US">$ </font><font lang="EN-US">2.299</font></p> </td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="10%" valign="bottom" style='width:10.96%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font lang="EN-US">2.6</font></p> </td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.1%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font lang="EN-US">$ </font><font lang="EN-US">-</font></p> </td> </tr> <tr style='height:15.0pt'> <td width="35%" valign="bottom" style='width:35.52%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Exercised</font></p> </td> <td width="14%" valign="bottom" style='width:14.1%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">                </font><font lang="EN-US">-</font></p> </td> <td width="3%" valign="top" style='width:3.02%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.0%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font lang="EN-US">-</font></p> </td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="10%" valign="bottom" style='width:10.96%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.1%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font lang="EN-US">-</font></p> </td> </tr> <tr style='height:16.8pt'> <td width="35%" valign="bottom" style='width:35.52%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Expired</font></p> </td> <td width="14%" valign="bottom" style='width:14.1%;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">                </font><font lang="EN-US">-</font></p> </td> <td width="3%" valign="top" style='width:3.02%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.0%;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font lang="EN-US">-</font></p> </td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="10%" valign="bottom" style='width:10.96%;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.1%;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font lang="EN-US">-</font></p> </td> </tr> <tr style='height:16.8pt'> <td width="35%" valign="bottom" style='width:35.52%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="14%" valign="bottom" style='width:14.1%;border:none;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="3%" valign="top" style='width:3.02%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.0%;border:none;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="10%" valign="bottom" style='width:10.96%;border:none;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.1%;border:none;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> </tr> <tr style='height:16.8pt'> <td width="35%" valign="bottom" style='width:35.52%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Balance:  September 30, 2014</font></p> </td> <td width="14%" valign="bottom" style='width:14.1%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">  </font><font lang="EN-US">308,000</font></p> </td> <td width="3%" valign="top" style='width:3.02%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.0%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font lang="EN-US">$ </font><font lang="EN-US">2.299</font></p> </td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="10%" valign="bottom" style='width:10.96%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font lang="EN-US">2.6</font></p> </td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.1%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font lang="EN-US">$</font><font lang="EN-US">-</font></p> </td> </tr> <tr style='height:15.0pt'> <td width="35%" valign="bottom" style='width:35.52%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="14%" valign="bottom" style='width:14.1%;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="3%" valign="top" style='width:3.02%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.0%;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="10%" valign="bottom" style='width:10.96%;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.1%;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> </tr> <tr style='height:16.8pt'> <td width="35%" valign="bottom" style='width:35.52%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Options exercisable at September 30, 2014</font></p> </td> <td width="14%" valign="bottom" style='width:14.1%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">  </font><font lang="EN-US">308,000</font></p> </td> <td width="3%" valign="top" style='width:3.02%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'> </p> </td> <td width="12%" valign="bottom" style='width:12.0%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font lang="EN-US">$ </font><font lang="EN-US">2.299</font></p> </td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="10%" valign="bottom" style='width:10.96%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font lang="EN-US">2.6</font></p> </td> <td width="2%" valign="top" style='width:2.64%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'> </p> </td> <td width="19%" valign="bottom" style='width:19.1%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><font lang="EN-US">$</font><font lang="EN-US">-</font></p> </td> </tr> </table>
750000
2015-02-01
0.0275
1500000
100000
0.0600
250000
71631
250000
64632
64632
89837
100
175742
133066
20000
20000
20000
173244
440000
313540
523856
2.0700
0.0000
P2Y
0.0042
280000
5.24
2
0
120000
4.40
2
0
400000
4.99
2
0
400000
4.99
2
0
193540
308000
2.299
2.6
308000
2.299
2.6
308000
2.299
2.6
1179395
38686
62448
60406
91378
42171
120000
42171
120000
3000000
0001438035
2014-03-31
0001438035
2014-04-01
2014-09-30
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2014-09-30
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2014-09-30
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2013-09-30
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2013-04-01
2013-09-30
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2013-09-30
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2012-11-01
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iso4217:USD
shares
iso4217:USD
shares
pure
See Note 4
$0.001 par value; stated value $5.00 per share; 3,000,0000 shares authorized; 182,000 shares issued and outstanding
$0.001 par value; 75,000,000 shares authorized; 20,016,821 and 18,833,385 shares issued and outstanding