Fair Value Measurements (Tables)

9 Months Ended

Jun. 30, 2013

Fair Value Disclosures [Abstract]

Financial liabilities recurring basis

Financial liabilities carried at fair value as of June 30, 2013 on a recurring basis are classified below:

	Level 1		Level 2		Level 3		Total
Derivative liabilities	$	-	$	-	$	14,286,000	$	14,286,000

Derivative liability changes

The table below sets forth a summary of changes in the fair value of the Company’s Level 3 financial instruments for the nine months ended June 30, 2013:

	September 30, 2012		Recorded New Derivative Liabilities		Change in estimated fair value recognized in results of operations (gain)/loss		June 30, 2013
Derivative liabilities	$	19,925,000	$	3,246,000	$	(8,885,000)	$	14,286,000

Fair Value Measurements, Recurring and Nonrecurring

The Company estimates the fair value of financial instruments that are not required to be carried in the condensed consolidated balance sheet at fair value on either a recurring or non-recurring basis as follows:

	June 30, 2013				September 30, 2012
(in thousands)	Carrying amount		Fair value		Carrying amount		Fair value		Level in fair value hierarchy
Cash and cash equivalents	$	146,000	$	146,000	$	1,738,000	$	1,738,000		1
Accounts Receivable, net	$	127,000	$	127,000	$	-	$	-		2
Accounts Payable	$	1,498,000	$	1,498,000	$	604,000	$	604,000		2