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Non-interest Bearing Liabilities (Tables)
 12 Months Ended
Sep. 30, 2015
Debt Disclosure [Abstract]  
Schedule of non-interest bearing liabilities.

Non-interest bearing liabilities consists of the following:

 

    2015     2014  
Senior Convertible Debentures   $ 332     $ 263,727  
Derivative Financial Instruments     -       5,456,000  
    $ 332     $ 5,719,727  

 

Senior Convertible Debentures   2015     2014  
             
Senior Convertible Debentures, non-interest bearing, unsecured, due March 18, 2044     6,144       7,446,044  
Less: Debt Discount     (5,812 )     (7,182,317 )
Total carrying value     332       263,727  
Less: current portion     -       -  
Long term liability   $ 332     $ 263,727  
Schedule of issuance of the debentures in connection with purchase warrants

In connection with the issuance of the Debentures, the Company issued an aggregate of 16,916,666 share purchase warrants as follows:

 

          Non-        
    Purchasers     purchasers     Total  
Series A Warrants     8,333,333       125,000       8,458,333  
Series B Warrants     8,333,333       125,000       8,458,333  
      16,666,666       250,000       16,916,666  
Schedule of purchaser and non-purchaser warrants at issuance was determined using the Black Scholes option pricing model

The fair value of the Purchaser and Non-Purchaser warrants at issuance was determined using the Black Scholes option pricing model with the following weighted average assumptions:

 

Risk-free interest rate     1.56 %
Expected life (years)     5.00  
Expected volatility     97.16 %
Stock price   $ 1.76  
Dividend yields     0.00 %
Schedule of fair value by using binomial option pricing model

The Company calculated the fair value of the amended Debentures by discounting future cash flows using rates representative of current borrowing rates for debt instruments without a conversion feature and by using the binomial option pricing model to determine the fair value of the conversion features, using the following assumptions:

 

Risk-free interest rate     3.13 %
Expected life (years)     29.58  
Expected volatility     100.71 %
Stock Price   $ 1.028  
Dividend yields     0.00 %
Schedule of liabilities at fair values

As a result of the application of ASC 815, the Company has recorded these liabilities at their fair values as follows:

 

    September 30,  
    2014     2013  
             
Balance, beginning of the period   $ 904,000     $ -  
Fair value at issuance     8,277,000       919,000  
Change in fair value during the year     (2,956,000 )     (15,000 )
Reclassification to equity upon change in triggering events     (221,000 )     -  
Transfer to equity upon exercise     (548,000 )     -  
Balance, end of the period   $ 5,456,000     $ 904,000  
Schedule of embedded conversion features and warrants accounted for as derivative financial instruments have no observable market

The embedded conversion features and warrants accounted for as derivative financial instruments have no observable market and the Company estimated their fair values at their reclassification dates and September 30, 2014 using the binomial option pricing model based on the following weighted average management assumptions:

 

    Reclassification
Date		     September
30, 2014		  
Risk-free interest rate     1.47 %     3.21 %
Expected life (years)     24.75       29.48  
Expected volatility     102.14 %     100.07 %
Stock price   $ 0.84     $ 0.736  
Dividend yields     0.00 %     0.00 %