Interest Expense

6 Months Ended

Mar. 31, 2017

Notes to Financial Statements

Note 11 - Interest Expense

Interest expense includes direct interest of $39,595 and $159,375.70 for the three-month periods ended March 31, 2017 and 2016, respectively, and $79,969 and $203,41.70 for the six months ended March 31, 2017 and 2016, respectively, calculated based on the interest rates stated in our various debt instruments.

In addition, interest expense includes non-cash amortization of the debt discount of $36,797.30 and $0 for the three-month periods ended March 31, 2017 and 2016, respectively and $36,797.30 and $0 for the six months ended March 31, 2017 and 2016, respectively.