STOCKHOLDERS' EQUITY (Tables)

9 Months Ended

Jun. 30, 2012

STOCKHOLDERS' EQUITY [Abstract]

Weighted average assumptions used in the valuation of options using the lattice model

On January 6, 2012, the Board of Directors granted a total of 4,750,000 stock options to officers and board of directors members of the Company under the Company's 2004 Stock Option Plan. The options vest over two years, are exercisable for a period of 2 years and have a $0.20 strike price. However, the options are only exercisable if the Company's share price reaches $0.75 per share and remains consistently at or above that level for a period of one month.  They have a grant-date fair value of $63,711 or $0.013 per share based on and independent valuation of the options using a lattice model and the following weighted average assumptions:

Risk free interest rate	0.25	%
Dividend yield	0.00	%
Annual volatility	105.97	%
Exit/Attrition rates	2.00	%
Target exercise multiple	2.14