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16. QUARTERLY INFORMATION (UNAUDITED)

12 Months Ended

Sep. 30, 2013

Quarterly Financial Information Disclosure [Abstract]

The following quarterly data are derived from the Company’s statements of operations.

Financial Data

Fiscal 2013
	Three months			Three months			Three months			Three months
	ended			Ended			ended			ended			Year ended
	December 31 2012			March 31, 2013			June 30, 2013			September 30, 2013			September 30, 2013
Revenue	$	15,000		$	15,405		$	113,728		$	15,450		$	159,583
Operating expenses		5,059,457			4,255,229			5,626,927			5,087,191			20,027,859
Non operating expenses, net		(11,987	)		(11,811	)		(13,666	)		(14,928	)		(53,337	)
Gain on derivative instruments		2,746,198			3,538,264			1,079,392			3,386,812			10,750,666
Net loss		(2,310,246	)		(713,371	)		(4,447,473	)		(1,699,857	)		(9,170,947	)
Modification of warrants		-			-			(59,531	)		-			(59,531	)
Net loss available to
common shareholders	$	(2,310,246	)	$	(713,371	)	$	(4,507,004	)	$	(1,699,857	)	$	(9,230,478	)
Net loss per share-basic	$	(0.08	)	$	(0.02	)	$	(0.15	)	$	(0.05	)	$	(0.30	)
Net loss per share-diluted	$	(0.18	)	$	(0.14	)	$	(0.18	)	$	(0.16	)	$	(0.66	)
Weighted average shares-basic and diluted		28,311,602			30,901,177			30,930,650			30,994,932			30,279,442

Fiscal 2012
	Three months			Three months			Three months			Three months
	ended			ended			ended			ended			Year ended
	December 31 2011			March 31, 2012			June 30, 2012			September 30, 2012			September 30, 2012
Revenue	$	5,024		$	106,543		$	35,000		$	108,043		$	254,610
Operating expenses		4,448,300			4,368,900			4,248,098			4,432,152			17,497,450
Non operating income (expenses)		(94,407	)		(27,275	)		(12,737	)		(11,734	)		(146,153	)
Gain/(loss) on derivative instruments		956,470			(4,204,327	)		3,390,389			1,769,151			1,911,683
Net loss		(3,581,213	)		(8,493,959	)		(835,446	)		(2,566,692	)		(15,477,310	)
Issuance of additional shares due to reset provision		(250,000	)		-			-			-			(250,000	)
Modification of warrants		(325,620	)		-			-			-			(325,620	)
Inducement warrants		-			(1,593,000	)		-			-			(1,593,000	)
Net loss available to
common shareholders	$	(4,156,833	)	$	(10,086,959	)	$	(835,446	)	$	(2,566,692	)	$	(17,645,930	)
Net loss per share-basic	$	(0.18	)	$	(0.41	)	$	(0.03	)	$	(0.09	)	$	(0.70	)
Net loss per share-diluted	$	(0.22	)	$	(0.41	)	$	(0.16	)	$	(0.16	)	$	(0.78	)
Weighted average shares-basic and diluted		22,856,844			24,736,959			25,846,758			27,297,495			25,183,654

The Company has experienced large swings in its quarterly gains and losses in 2013 and 2012. These swings are caused by the changes in the fair value of convertible debt and warrants each quarter. These changes in the fair value of these securities are recorded on the statements of operations.

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

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