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Fair Value of Financial Instruments (Tables)
3 Months Ended
Dec. 31, 2016
Fair Value Disclosures [Abstract]  
Fair Value, Liabilities Measured on Recurring Basis
The Company has issued warrants to purchase stock as described above. The fair value of the warrants was estimated by management in the absence of a readily ascertainable market value as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2016
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Warrant issued to acquire common stock
$
0
 
 
$
0
 
 
$
283

 
 
 
 
 
 
 
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques
Assumptions used in valuing the warrants included:
Risk free interest rate
1.01
%
Contractual term
5 years

Dividend yield
%
Expected lives
P4Y3M18D


Expected volatility
149
%
Fair value per warrant
$5.29
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
Change in Level 3 liabilities for the year ended December 31, 2016:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Beginning Balance
 
Realized/Unrealized
 
Purchases and
 
Ending Balance
 
 
Change in Realized (gains) losses for liabilities held at
 
October 1, 2016
 
(Gains) Losses
 
Settlements
 
December 31, 2016
 
 
December 31, 2016
Warrant issued to acquire common stock
$
204

 
 
$
79

 
 
$

 
 
$
283

 
 
 
$
79