Income Taxes (Tables)

12 Months Ended

Sep. 30, 2014

Income Tax Disclosure [Abstract]

Income Tax Provision (Benefit)

For the fiscal years ended September 30, 2014, 2013 and 2012 the income tax provision (benefit) was as follows:

	2014		2013		2012
Federal—current	$	—	$	—	$	(4,808	)
State—current		2,226		1,076		800
Total	$	2,226	$	1,076	$	(4,008	)

Company's Net Deferred Tax Assets and Liabilities

Significant components of the Company’s net deferred tax assets and liabilities as of September 30, 2014 and 2013 are as follows:

	2014			2013
Deferred tax assets (liabilities):
Net operating loss carryforwards	$	11,401,483		$	10,473,905
Capitalized research and development costs		—			134,550
Stock based compensation		1,228,082			408,588
AMT credit carryforwards		66,320			66,320
Other		250,999			186,212
Research credit carryforwards		43,802			43,802
Total deferred assets		12,990,686			11,313,377
Valuation allowance for net deferred tax assets		(12,990,686	)		(11,313,377	)
Total	$	—		$	—

Income Taxes Computed Using Federal Income Tax Rate

The difference between the income tax provision (benefit) and income taxes computed using the U.S. federal income tax rate was as follows for the years ended September 30, 2014, 2013 and 2012:

	2014			2013			2012
Amount computed using statutory rate	$	(1,798,479	)	$	(2,473,374	)	$	(2,666,961	)
Net change in valuation allowance for net deferred tax assets		1,677,309			1,968,987			2,247,615
Non-deductible items		411,473			548,839			807,533
State income tax		(288,077	)		(43,376	)		(392,195	)
Income tax provision (benefit)	$	2,226		$	1,076		$	(4,008	)