CONVERTIBLE DEBT EXCHANGE

6 Months Ended

Mar. 31, 2015

Debt Disclosure [Abstract]

CONVERTIBLE DEBT EXCHANGE

On August 27, 2014, the Company entered into a series of exchange agreements with certain holders of the January 2014 Notes, the November 2013 Notes and other debt in the principal amount of $1,697,000. Pursuant to the exchange agreements the holders exchanged the debt plus accrued interest of approximately $160,000 for 1,500,000 shares of Series A Convertible Preferred Stock. As of March 31, 2015, Series A Convertible preferred Stock outstanding is 1,360,874.