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6. Stock Options

3 Months Ended

Dec. 31, 2016

Notes

6. Stock Options

6.     STOCK OPTIONS

The following table summarizes stock option activity for the three months ended of December 31, 2016:

										Weighted
						Weighted				Average
						Average				Remaining				Aggregate
		Number of				Exercise				Contractual				Intrinsic
		Shares				Price				Life (years)				Value
Outstanding at September 30, 2016			573,000			$	0.70
Granted			-				-
Exercised			-				-
Expired			-				-
Forfeited			-				-
Outstanding at December 31, 2016			573,000			$	0.70				9.4			$	-
Exercisable at December 31, 2016			195,000			$	0.42				9.4			$	-

The Company is expensing these stock option awards on a straight-line basis over the requisite service period. The Company recognized stock option expenses of $1,900 for three months ended December 31, 2016. Unamortized option expense as of December 31, 2016, for all options outstanding amounted to approximately $11,946. These costs are expected to be recognized over a weighted-average period of 4.8 years for the stock options awards. The Company did not recognize any stock option expenses for three months ended December 31, 2015.

A summary of the status of the Company's nonvested shares as of December 31, 2016, is presented below:

Nonvested options
		Number of
		Nonvested Shares
Nonvested shares at September 30, 2016			378,000
Granted			-
Exercised			-
Expired			-
Vested			-
Nonvested shares at December 31, 2016			378,000

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- References

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The entire disclosure for freestanding option contracts issued by an entity that are indexed to, and potentially settled in, an entity's own stock. Includes disclosure on the strike price and the number of shares to which the contract is indexed, the settlement date or dates of the contract, and the issuer's accounting for the contract. If the terms of the contract provide settlement alternatives, those settlement alternatives are disclosed, including who controls the settlement alternatives, and the maximum number of shares that could be required to be issued, to net share settle the contract, if applicable. If a contract does not have a fixed or determinable maximum number of shares that could be required to be issued, the fact that a potentially infinite number of shares that may be required to be issued to settle the contract is disclosed. Disclosure also includes the contract's current fair value for each settlement alternative and how changes in the price of the issuer's equity instruments affect those settlement amounts.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6445032&loc=d3e90193-114008

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Freestanding Contract
-URI http://asc.fasb.org/extlink&oid=6513800

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 480
-SubTopic 10
-Section 55
-Paragraph 63
-URI http://asc.fasb.org/extlink&oid=6924035&loc=d3e23176-110880

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6445032&loc=d3e90205-114008

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6445032&loc=d3e90198-114008

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