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Intellectual Property
12 Months Ended
Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Intellectual Property

Note 5. Intellectual Property

 

On June 18, 2016, David P. Summers, a significant shareholder and related party of the Company, contributed certain medical intellectual property to the Company in exchange for 5,000,000 shares of Series A Preferred Stock. The transaction was valued at $2,990,535 based upon the value of the Series A Preferred Stock as determined by a valuation expert.

 

The Company is in the early stages of developing its products with the expectation of realizing the value from the intellectual property. Because the Company does not current revenue projections or valuations of the intellectual property, management determined that those assets were fully impaired as of September 30, 2016. The Company recorded impairment of intellectual properties on the Consolidated Statement of Operations for the year ended September 30, 2016.