XML 50 R29.htm IDEA: XBRL DOCUMENT
v3.6.0.2

Income Taxes (Tables) | 12 Months Ended
--- | ---
Sep. 30, 2016
Income Tax Disclosure [Abstract] |
Components of the Net Deferred Tax (Liability) | Components of the net deferred tax asset (liability) at September 30, 2016 and 2015 are as follows:
|  | 2016 |  |  | 2015 |
Deferred tax assets: |  |  |  |  |  |  |
Accrued compensation | $ | 1,691,050 |  |  | $ | 1,513,021 |
Stock compensation |  | 7,224,958 |  |  |  | 6,571,774 |
Capitalized research and development |  | 2,957,528 |  |  |  | - |
Fair value adjustments |  | - |  |  |  | 2,850,125 |
Net operating losses |  | 125,120,957 |  |  |  | 88,965,968 |
Intangible Assets |  | 5,544,091 |  |  |  | 5,551,705 |
Total deferred tax assets |  | 142,538,584 |  |  |  | 105,452,593 |
Valuation allowance |  | (128,695,371 | ) |  |  | (95,085,045 | )
Deferred tax liabilities: |  |  |  |  |  |  |
State taxes |  | (13,804,268 | ) |  |  | (10,282,834 | )
Fixed assets |  | (38,945 | ) |  |  | (84,714 | )
Total deferred tax liability |  | (13,843,213 | ) |  |  | (10,367,548 | )
Net deferred tax assets (liabilities) | $ | — |  |  | $ | — |
Provision for Income Taxes | The provision for income taxes for the years ended September 30, 2016 and 2015 are as follows:
| 2016 |  |  | 2015 |
Federal: |  |  |  |  |  |  |
Current |  | — |  |  |  | — |
Deferred |  | — |  |  |  | — |
Total Federal |  | — |  |  |  | — |
State: |  |  |  |  |  |  |
Current | $ | 2,400 |  |  |  | 2,400 |
Deferred |  | — |  |  |  | — |
Total State | $ | 2,400 |  |  |  | 2,400 |
Provision from income taxes | $ | 2,400 |  |  |  | 2,400 |
Summary of Effective Income Tax Rate Reconciliation | The Company’s effective income tax rate differs from the statutory federal income tax rate as follows for the years ended September 30, 2016 and 2015:
|  | 2016 |  |  | 2015 |
At U.S. federal statutory rate |  | 34.0 | % |  |  | 34.0 | %
State taxes, net of federal effect |  | 9.0 |  |  |  | 9.3 |
Stock compensation |  | (1.1 | ) |  |  | (0.7 | )
Mark-to-market adjustments |  | (0.1 | ) |  |  | 0.7 |
Valuation allowance |  | (41.1 | ) |  |  | (43.4 | )
Other |  | (0.7 | ) |  |  | 0.1 |
Effective income tax rate |  | 0.0 | % |  |  | 0.0 | %

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration