Income Taxes (Tables)

12 Months Ended

Sep. 30, 2015

Composition of Deferred Tax Assets and the Related Tax Effects

The composition of deferred tax assets and the related tax effects at September 30, 2015 and 2014 are as follows:

	2015			2014
Net operating losses	$	10,932,812		$	8,753,206
Allowance for loss on deposits		1,443,651			1,799,584
Other		1,702,196			827,010
Total deferred tax assets		14,078,659			11,379,800
Valuation allowance		(14,078,659	)		(11,379,800	)

Net deferred tax asset	$	-		$	-

Income Tax Reconciliation

The difference between the income tax benefit (provision) in the accompanying statement of operations and the amount that would result if the U.S. Federal statutory rate of 34% were applied to pre-tax income (loss) for years ended September 30, 2015 and 2014, is as follows:

	2015			2014

Income tax benefit at federal statutory rate	$	2,254,677		$	673,402
Change in valuation allowance		(3,408,739	)		(637,154	)
Expiration and adjustment of NOLs		1,019,766			(94,021	)
Stock compensation		(2,856	)		(9,166	)
Other		137,152			66,939
	$	-		$	-