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Senior Convertible Debentures | 12 Months Ended
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Sep. 30, 2016
Debt Disclosure [Abstract] |
Senior Convertible Debentures |
Note 5 | Senior Convertible Debentures
|  | 2016 |  |  | 2015 |
Senior Convertible Debentures, non-interest bearing, unsecured, due March 18, 2044 |  | $ | - |  |  | $ | 6,162 |
Less: Debt Discount |  |  | - |  |  |  | (5,830 | )
Total carrying value |  |  | - |  |  |  | 332 |
Less: current portion |  |  | - |  |  |  | - |
Long term liability |  | $ | - |  |  | $ | 332 |
On March 13, 2014, the Company entered into a Securities Purchase Agreement with certain purchasers, pursuant to which the Company issued senior convertible debentures in the aggregate principal amount of $10,000,000 (the “Debentures”). The Debentures were unsecured, non-interest bearing and were due on March 18, 2044. The Debentures were originally convertible, in whole or in part, at the option of the holder into common shares of the Company at $1.20 per share (“the Conversion Price”). The Conversion Price of the debenture will be adjusted in the event of common stock dividend, split or consolidation. The Conversion Price was later amended to $1.00 per share. At September 30, 2016, all of the principal and amount of the Debentures had been converted to shares of common stock and, as a result, no amounts were owing under the terms of the Debentures (2015: $6,162 in principal amount of these Debentures remained outstanding). During the year ended September 30, 2016, the Company issued an aggregate of 6,162 shares of common stock based on a conversion price of $1.00 per share pursuant to the conversion of $6,162 in outstanding principal amounts due under the Debentures. The Company recorded a debt discount in connection with the issuance and amendment of the Debentures during the year ended September 30, 2014, which was being amortized using the effective interest method over the term of the Debentures. During the year ended September 30, 2016, the Company recorded $5,830 (2015: $4,515,987, 2014: $1,917,615) in respect of the amortization of this discount.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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