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Fair Value Measurements (Tables)

12 Months Ended

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, 2013 and September 30, 2012 for assets and liabilities measured at fair value on a recurring basis:

September 30, 2013:

	Level 1									Level 2									Level 3									Total
Cash and cash equivalents	$		19,114,444					$				—					$				—					$				19,114,444
Marketable securities	$		10,698,271					$				—					$				—					$				10,698,271
Derivative assets	$		—					$				—					$				—					$				—
Derivative liabilities	$		—					$				—					$				4,096,363					$				4,096,363
Acquisition related contingent consideration obligations	$		—					$				—					$				1,595,273					$				1,595,273

September 30, 2012:

	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 contingent consideration obligations	$		—					$				—					$				173,621					$				173,621

Assumptions Used in Valuing Derivative Asset

The assumptions used in valuing the derivative asset as of September 30, 2013 and 2012 were as follows:

	September 30, 2013		September 30, 2012
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, 2013 and 2012:

Value at September 30, 2011	$		161,125
Receipt of instruments			—
Increase in value			89,125
Net settlements			—
Value at October 1, 2012	$		250,250
Receipt of instruments			—
Decrease in value			(250,250	)
Net settlements			—
Value at September 30, 2013	$		—

Change in Fair Value of Contingent Consideration Obligations

The following is a reconciliation of contingent consideration fair value during the years ended September 30, 2013 and 2012.

Value at September 30, 2011	$		—
Purchase price contingent consideration			173,621
Contingent consideration payments			—
Change in fair value of contingent consideration			—
Value at September 30, 2012	$		173,621
Purchase price contingent consideration			—
Contingent consideration payments			—
Change in fair value of contingent consideration			1,421,652
Value at September 30, 2013	$		1,595,273

Warrant

Assumptions Used in Valuing Derivative Liabilities

The assumptions used in valuing the derivative liability as of September 30, 2013 and 2012 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		None				None
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, 2013 and 2012:

Value at September 30, 2011	$		907,233
Receipt of instruments			—
Change in value			(281,038	)
Net settlements			—
Value at September 30, 2012	$		626,195
Issuance of instruments			2,153,819
Change in value			5,066,591
Net settlements			(3,754,808	)
Value at September 30, 2013	$		4,091,797

Exchange rights

Assumptions Used in Valuing Derivative Liabilities

The assumptions used in valuing the derivative liability as of September 30, 2013 and 2012 were as follows:

	September 30, 2013			September 30, 2012
Risk free interest rate	1.39	%		0.62	%
Expected life	4.3 Years			5.3 Years
Dividend yield	None			None
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, 2013 and 2012:

Value at September 30, 2011	$		30,895
Issuance of instruments			—
Change in value			(20,520	)
Value at September 30, 2012	$		10,375
Issuance of instruments			—
Change in value			(5,806	)
Net settlements			—
Value at September 30, 2013	$		4,569

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-SubTopic 10

-Section 50

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+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

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-Section 50

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-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258



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-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.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

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