SHARE-BASED COMPENSATION (Tables)

9 Months Ended

Jun. 30, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of stock options valuation assumptions

The fair value of each stock option on the date of grant was estimated using the Black-Scholes option-pricing formula applying the following assumptions:

	Three Months Ended					Nine Months Ended
	June 30,					June 30,
	2015			2014		2015			2014
Risk free interest rate		1.92	%		n/a		1.92	%		1.86	%
Expected term (years)		5.90			n/a		5.90			6.00
Expected volatility		64.4	%		n/a		64.4	%		63.2	%
Expected dividends		0	%		n/a		0	%		0	%
Estimated annual forfeiture rate		10	%		n/a		10	%		10	%

Schedule of stock option activity

The following table summarizes stock option activity during the nine months ended June 30, 2015:

						Weighted
				Weighted		Average
				Average		Remaining
	Number of			Exercise		Life		Intrinsic
	Options			Price		In Years		Value
Outstanding, September 30, 2014		778,500		$	3.12
Granted		50,000			0.64
Exercised		-			-
Forfeited		(550,000	)		3.17
Outstanding, June 30, 2015		278,500		$	2.59		5.5	$	2,500
Exercisable, June 30, 2015		234,875		$	2.84		4.8	$	750

Schedule of additional information regarding stock option awards

The table below provides additional information regarding stock option awards that were outstanding and exercisable at June 30, 2015:

Options Outstanding					Options Exercisable
	Weighted				Weighted		Weighted
	Average		Outstanding		Average		Average		Exercisable
Exercise	Exercise		Number of		Exercise		Remaining Life		Number of
Price		Price		Options		Price		In Years		Options
$0.64 to $1.99	$	1.03		90,000	$	1.28		6.7		55,000
$2.00 to $2.99		2.46		96,000		2.46		4.1		95,500
$3.00 to $3.99		3.74		72,500		3.74		5.6		64,375
$4.00 to $6.02		6.02		20,000		6.02		0.8		20,000
				278,500				4.8		234,875

Schedule Of summarizes restricted stock activity

The following table summarizes restricted stock activity during the nine months ended June 30, 2015:

				Weighted
				Average		Total
	Number of			Grant Date		Grant Date
	Shares			Fair Value		Fair Value
Non-vested, September 30, 2014		257,581		$	1.32	$	340,044
Granted		290,000			0.90		260,000
Vested		(192,958	)		1.21		(234,281	)
Forfeited		(126,291	)		1.26		(159,398	)
Non-vested, June 30, 2015		228,332		$	0.90	$	206,365