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STOCK WARRANTS
 6 Months Ended
Mar. 31, 2016
Accounting Policies [Abstract]  
STOCK WARRANTS

The following is a summary of warrants activity during the year ended September 30, 2015 and six months ending March 31, 2016. 

 

    Number of Shares       Weighted Average Exercise Price  
Balance, September 30, 2014   60,000     $ 0.36  
Warrants granted and assumed   8,037,600     $ 0.10  
Warrants expired   —         —    
Warrants canceled   —         —    
Warrants exercised   —         —    
Balance, September 30, 2015   8,097,600     $ 0.10  
Warrants granted and assumed   514,500     $ 0.36  
Warrants expired   —         —    
Warrants canceled   —         —    
Warrants exercised   —         —    
Balance, March 31, 2016   8,612,100     $ 0.11  

 

As of March 31, 2016, 8,612,100 warrants are exercisable.

 

On January 22, 2016, the Company issued warrants to purchase 450,000 shares of common stock to a Mr. Greg Gohlinghorst for business advisory services. The warrants were valued at $116,811 using the Black Scholes option pricing model based upon the following assumptions: term of 5 years, risk free interest rate of 1.49%, a dividend yield of 0% and volatility rate of 110%. The warrants were fully earned and vested on January 31, 2016.