- Definition

The aggregate liquidation preference (or restrictions) of stock classified as temporary equity that has a preference in involuntary liquidation considerably in excess of the par or stated value of the shares. The liquidation preference is the difference between the preference in liquidation and the par or stated values of the share. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.

+ References+ Details

SUBSEQUENT EVENTS (Details Textuals) (USD $)	0 Months Ended
SUBSEQUENT EVENTS (Details Textuals) (USD $)	Jan. 15, 2015	Dec. 31, 2014	Sep. 30, 2014	Jan. 09, 2015
Subsequent Event [Line Items]
Liqudation Value		$ 1,287,737	$ 1,275,000
Subsequent Event [Member] \| Former Chief Executive Officer [Member]
Subsequent Event [Line Items]
Description of subsequent event	Voluntarily resigned from his position and the Company entered into an agreement with him, pursuant to which the Former CEO agreed to waive all payments under his Employment Agreement and all future claims against the Company. Under the agreement, for six months following his termination of active employment, the Former CEO will receive his regular monthly base salary and will remain eligible to participate in medical and dental plans similar to his current coverage level for a period of twelve months.
Cash paid in lieu of vested restricited stock	7,852
Subsequent Event [Member] \| Convertible Preferred Stock [Member]
Subsequent Event [Line Items]
Liqudation Value				$ 1,287,737