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DERIVATIVE WARRANT LIABILITY (Tables)
6 Months Ended
Mar. 31, 2016
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 the fair value hierarchy:

 

   

Six Months

Ended

March 31,

2016

   

Six Months

Ended

March 31,

2015

 
                 
Derivative warrant liability, beginning of period   $ 738,955     $ 1,450,943  
Fair value of warrants issued     704,005       117,976  
Total realized/unrealized losses (gains) included in net loss (1)     173,906       (323,688 )
Reclassification of liability to additional paid-in capital     (114,308 )      
Derivative warrant liability, end of period   $ 1,502,558     $ 1,245,231  

 

(1) Included in gain (loss) on revaluation of derivative warrant liability in the Condensed Consolidated Statement of Operations.