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STOCKHOLDERS EQUITY (DEFICIT)
 6 Months Ended
Mar. 31, 2015
Equity [Abstract]  
STOCKHOLDERS EQUITY (DEFICIT)

On November 4, 2014 the Company entered into a consulting agreement for grant writing services. Pursuant to this agreement the Company issued 60,000 shares of the Company's $0.001 par value common stock valued at $1.00 of $60,000.

 

During the period commencing November 12, 2014 through March 31, 2015 the Company received $242,000 from 14 investors pursuant to private placement agreements with the investors to purchase 242,000 shares of Stratean $0.001 par value common stock and warrants to purchase 24,200 shares of Stratean $0.001 par value common stock at a purchase price equal to $1.00 for each share of Common stock and 10% warrant coverage. The warrant allows the holder to purchase shares of the Company's $0.001 par value common stock at $1.10 per share.

 

On December 31, 2014 the Company issued 57,500 shares to a related party to settle debt. (see Note 5 for additional information)

 

On March 12, 2015, Stratean Inc. (the "Company") issued shares and warrants to be issued to officers and members of the board of directors as compensation for services performed.

 

The Board of Directors granted non-statutory stock options and shares of the Company's $0.001 par value common stock to parties which have provided significant consulting services to the Company and created significant value for the Company as a result of these services. The options and shares were granted as follows:

 

Name   Title   Number of Shares of $0.001 
par value Common Stock		   Number of Warrants
S. Matthew Schultz   Chief Executive Officer and Director     100,000       500,000  
Zachary K Bradford   Chief Financial Officer and Director     100,000       500,000  
Bruce Lybbert   Director     100,000       500,000  
Michael Barrett   Chief Operating Officer     100,000       500,000  
Larry McNeil   Director     100,000       500,000  

 

The options were issued under the following terms; non-transferable, fully vest on March 31, 2015, expire ten years from the date of grant, strike price of $0.25 and become immediately exercisable upon the occurrence of a significant liquidating, restructuring or change of control event.

 

The 2,500,000 stock options were valued at $2,414,304 using the Black-Scholes option pricing model based upon the following assumptions: term of 10 years,  risk free interest rate of 2.11%, a dividend yield of 0% and volatility rates of 110%.   The Company recorded an expense of $2,414,304 for the six months ended March 31, 2015.

 

The 500,000 shares of the Company's $0.001 par value common stock were valued at $1.00.  The Company recorded an expense of $500,000 for the six months ended March 31, 2015.

 

On March 12, 2015 the Company also approved the issuance of 130,000 shares of the company's $0.001 par value common stock to two consultants for consulting services provided. The shares of the Company's $0.001 par value common stock were valued at $1.00.  The Company recorded an expense of $130,000 for the six months ended March 31, 2015.

 

On March 18, 2015 the Company granted 95,000 non-statutory stock options to a consultant. The options were issued under the following terms; non-transferable, fully vest on March 31, 2015, expire ten years from the date of grant, strike price of $1.10 and become immediately exercisable upon the occurrence of a significant liquidating, restructuring or change of control event.