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Fair Value Measurements (Tables) | 12 Months Ended
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Sep. 30, 2013
Fair Value Measurements for Assets and Liabilities Measured at Fair Value on Recurring Basis | The following table summarizes fair value measurements at September 30, 201 3 and September 30, 201 2 for assets and liabilities measured at fair value on a recurring basis: September 30, 201 3:
| Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Cash and cash equivalents | $ |  | 19,114,444 |  |  | $ |  |  | — |  |  | $ |  |  | — |  |  | $ |  |  | 19,114,444 |
Marketable securities | $ |  | 10,698,271 |  |  | $ |  |  | — |  |  | $ |  |  | — |  |  | $ |  |  | 1 0,698,271 |
Derivative assets | $ |  | — |  |  | $ |  |  | — |  |  | $ |  |  | — |  |  | $ |  |  | — |
Derivative liabilities | $ |  | — |  |  | $ |  |  | — |  |  | $ |  |  | 4,096,363 |  |  | $ |  |  | 4,096,363 |
Acquisition related c ontingent consideration obligations | $ |  | — |  |  | $ |  |  | — |  |  | $ |  |  | 1,595,273 |  |  | $ |  |  | 1,595,273 |
September 30, 201 2:
| Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Cash and cash equivalents | $ |  | 3,377,288 |  |  | $ |  |  | — |  |  | $ |  |  | — |  |  | $ |  |  | 3,377,288 |
Marketable securities | $ |  | 106,500 |  |  | $ |  |  | — |  |  | $ |  |  | — |  |  | $ |  |  | 106,500 |
Derivative assets | $ |  | — |  |  | $ |  |  | — |  |  | $ |  |  | 250,250 |  |  | $ |  |  | 250,250 |
Derivative liabilities | $ |  | — |  |  | $ |  |  | — |  |  | $ |  |  | 647,213 |  |  | $ |  |  | 647,213 |
Acquisition related c ontingent consideration obligations | $ |  | — |  |  | $ |  |  | — |  |  | $ |  |  | 173,621 |  |  | $ |  |  | 173,621 |
Assumptions Used in Valuing Derivative Asset | The assumptions used in valuing the derivative asset as of September 30, 201 3 and 201 2 were as follows:
| September 30, 201 3 |  | September 30, 201 2
--- | --- | --- | ---
Risk free interest rate | N/A |  | 0.23 | %
Expected life | N/A |  | 1.3 Years
Dividend yield | N/A |  | none
Volatility | N/A |  | 72 | %
Reconciliation of Derivative Asset | The following is a reconciliation of the derivative asset for the years ended September 30, 201 3 and 201 2:
Value at September 30, 201 1 | $ |  | 1 61,125 |
Receipt of instruments |  | — |
Increase in value |  | 89,125 |
Net settlements |  | — |
Value at October 1, 201 2 | $ |  | 250,250 |
Receipt of instruments |  | — |
Dec rease in value |  | (250,25 0 | )
Net settlements |  | — |
Value at September 30, 201 3 | $ |  | — |
Change in Fair Value of Contingent Consideration Obligations | T he following is a reconciliation of contingent consideration fair value during the years ended September 30, 201 3 and 2012.
Value at September 30, 201 1 | $ |  | — |
Purchase price contingent consideration |  | 173,621 |
Contingent consideration payments |  | — |
Change in fair value of contingent consideration |  | — |
Value at September 30, 201 2 | $ |  | 173,621 |
Purchase price contingent consideration |  | — |
Contingent consideration payments |  | — |
Change in fair value of contingent consideration |  | 1,421,652 |
Value at September 30, 201 3 | $ |  | 1,595,273 |
Warrant |
Assumptions Used in Valuing Derivative Liabilities | The assumptions used in valuing the derivative liability as of September 30, 201 3 and 201 2 were as follows:
2010 Warrants |  | September 30, 2013 |  |  | September 30, 2012
Risk free interest rate |  | 0.33 | % |  |  | 0.31 | %
Expected life |  | 2.2 Years |  |  | 3.2 Years
Dividend yield |  | N one |  |  | N one
Volatility |  | 69 | % |  |  | 100 | %
2012 Warrants |  | September 30, 2013 |  |  | September 30, 2012
Risk free interest rate |  | 1.39 | % |  |  | N/A
Expected life |  | 4.2 Years |  |  | N/A
Dividend yield |  | none |  |  | N/A
Volatility |  | 69 | % |  |  | N/A
2013 Warrants |  | September 30, 2013 |  |  | September 30, 2012
Risk free interest rate |  | 1.39 | % |  |  | N/A
Expected life |  | 4.3 Years |  |  | N/A
Dividend yield |  | none |  |  | N/A
Volatility |  | 69 | % |  |  | N/A
Reconciliation of Derivative Liability | The following is a reconciliation of the derivative liability related to these warrants for the years ended September 30, 201 3 and 201 2:
Value at September 30, 201 1 | $ |  | 907,233 |
Receipt of instruments |  | — |
Change in value |  | (281,038 | )
Net settlements |  | — |
Value at September 30, 201 2 | $ |  | 6 26,195 |
Issuance of instruments |  | 2,153,819 |
Change in value |  | 5,066,591 |
Net settlements |  | (3,754,808 | )
Value at September 30, 201 3 | $ |  | 4,091,797 |
Exchange rights |
Assumptions Used in Valuing Derivative Liabilities | The assumptions used in valuing the derivative liability as of September 30, 201 3 and 201 2 were as follows:
| September 30, 201 3 |  | September 30, 201 2
--- | --- | --- | ---
Risk free interest rate | 1.39 | % |  | 0.62 | %
Expected life | 4.3 Years |  | 5.3 Years
Dividend yield | None |  | N one
Volatility | 100 | % |  | 100 | %
Reconciliation of Derivative Liability | The following is a reconciliation of the derivative liability related to these exchange rights for the years ended September 30, 201 3 and 201 2:
Value at September 30, 201 1 | $ |  | 30,89 5 |
Issuance of instruments |  | — |
Change in value |  | (20,520 | )
Value at September 30, 201 2 | $ |  | 10,375 |
Issuance of instruments |  | — |
Change in value |  | (5,806 | )
Net settlements |  | — |
Value at September 30, 201 3 | $ |  | 4,569 |

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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19279-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -Subparagraph c -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19279-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -Subparagraph c -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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- Definition Tabular disclosure of contingent payment arrangements including the terms that will result in payment and the accounting treatment that will be followed if such contingencies occur, including the potential impact on earnings per share if contingencies are to be settled in common stock of the entity. The description also may include the period over which amounts are expected to be paid, and changes in the amount since the previous reporting period. This also includes contingent options and commitments. + References No definition available. + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19190-110258 + Details
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