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DERIVATIVE WARRANT LIABILITY (Tables)
12 Months Ended
Sep. 30, 2015
Derivative Warrant Liability Tables  
Schedule of derivative warrant liabilities

The table below presents the changes in the derivative warrant liability, which is measured at fair value on a recurring basis and classified as Level 3 in fair value hierarchy (see Note 4):

 

   

Year Ended

September 30,

2015

   

Nine Months Ended

September 30,

2014

 
Derivative warrant liability, beginning of period   $ 1,450,943     $  
Fair value of warrants issued     768,435       1,459,531  
Total realized/unrealized gains included in net loss (1)     (332,095 )     (8,588 )
Reclassification of liability to additional paid-in capital     (1,148,328 )      
Derivative warrant liability, end of period   $ 738,955     $ 1,450,943