Fair Value Measurements (Tables)

9 Months Ended

Jun. 30, 2015

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]

Fair Value Measurements for Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table summarizes fair value measurements at June 30, 2015 and September 30, 2014 for assets and liabilities measured at fair value on a recurring basis:

June 30, 2015:

	Level 1		Level 2		Level 3		Total
Cash and cash equivalents	$	87,252,813	$	—	$	—	$	87,252,813
Derivative liabilities	$	—	$	—	$	1,724,468	$	1,724,468
Acquisition-related contingent consideration obligations	$	—	$	—	$	3,970,931	$	3,970,931

September 30, 2014:

	Level 1		Level 2		Level 3		Total
Cash and cash equivalents	$	132,510,610	$	—	$	—	$	132,510,610
Derivative liabilities	$	—	$	—	$	4,173,943	$	4,173,943
Acquisition-related contingent consideration obligations	$	—	$	—	$	3,970,931	$	3,970,931

Change in Fair Value of Contingent Consideration Obligations

The following is a reconciliation of contingent consideration fair value.

Value at September 30, 2013	$	1,595,273
Purchase price contingent consideration		—
Contingent consideration payments		—
Change in fair value of contingent consideration		2,375,658
Value at September 30, 2014	$	3,970,931
Purchase price contingent consideration		—
Contingent consideration payments		—
Change in fair value of contingent consideration		—
Value at June 30, 2015	$	3,970,931

Exchange rights

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]

Assumptions Used in Valuing Derivative Liabilities

The assumptions used in valuing the derivative liability were as follows:

	June 30,     2015	September 30,  2014
Risk-free interest rate	1.00%	1.07%
Expected life	2.5 Years	3.3 Years
Dividend yield	None	None
Volatility	75%	100%

Reconciliation of Derivative Liability

The following is a reconciliation of the derivative liability related to these exchange rights:

Value at September 30, 2013	$	4,569
Issuance of instruments		—
Change in value		211,860
Net settlements		—
Value at September 30, 2014	$	216,429
Issuance of instruments		—
Change in value		(177,605	)
Net settlements		(3,072)
Value at June 30, 2015	$	35,752

Warrant

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]

Assumptions Used in Valuing Derivative Liabilities

The assumptions used in valuing the derivative liability were as follows:

2010 Warrants	June 30, 2015	September 30, 2014
Risk-free interest rate	0.11%	0.13%
Expected life	0.5 Years	1.2 Years
Dividend yield	None	None
Volatility	75%	69%
2012 Warrants	June 30, 2015	September 30, 2014
Risk-free interest rate	1.01%	1.07%
Expected life	2.5 Years	3.2 Years
Dividend yield	None	None
Volatility	75%	69%
2013 Warrants	June 30, 2015	September 30, 2014
Risk-free interest rate	1.01%	1.07%
Expected life	2.6 Years	3.3 Years
Dividend yield	None	None
Volatility	75%	69%

Reconciliation of Derivative Liability

The following is a reconciliation of the derivative liability related to these warrants:

Value at September 30, 2013	$	4,091,797
Issuance of instruments		—
Change in value		5,821,796
Net settlements		(5,956,079	)
Value at September 30, 2014	$	3,957,514
Issuance of instruments		—
Change in value		(2,268,798)
Net settlements		—
Value at June 30, 2015	$	1,688,716