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2011 INCENTIVE STOCK PLAN (Tables)
6 Months Ended
Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Share-based Compensation, Activity

Exercise

Price Range

 

Number

Of Options

   

Weighted-Average Remaining

Contractual Life (Years)

   

Number Of

Options Exercisable

 
                   
$0.08     233,319       4.25       233,319  
Weighted average assumptions used for option grants
    Six months ended March 31, 2015  
       
Expected term   5 years  
Expected average volatility     0.46 %
Expected dividend yield     0 %
Risk-free interest rate     1.49 %
Expected annual forfeiture rate     0 %

 

The fair value of each option on the date of grant is estimated using the Black-Scholes option valuation model.  The following weighted-average assumptions were used for options granted during the Year ended September 30, 2014:

 

    Year Ended September 30, 2014  
       
Expected term   1-3 years  
Expected average volatility     100%-140 %
Expected dividend yield     0 %
Risk-free interest rate     .25%-1.38 %
Expected annual forfeiture rate     0 %
Shares Authorized under Stock Option Plans

At March 31, 2015, the Company had the following common stock equivalents from convertible debt and the detachable warrants issued with the convertible debt, which are not included in the information above.

 

    Price  

Exercise

Shares

         
Detachable warrants   $ 0.0008   8,203
Detachable warrants   $ 0.0008   40,125
Detachable warrants   $ 0.0008   12,915
Detachable warrants   $ 0.0008   6,472
          67,715

 

At September 30, 2014, the Company had the following common stock equivalents from convertible debt and the detachable warrants issued with the convertible debt, which are not included in the information above.

 

    Price  

Exercise

Shares

         
Detachable warrants   $ 0.0007   8,203
Detachable warrants   $ 0.0007   40,125
Detachable warrants   $ 0.0007   12,915
Detachable warrants   $ 0.0007   6,472
          67,715