DERIVATIVE LIABILITY AND FAIR VALUE MEASUREMENTS (Details Narrative) (USD $)
|
12 Months Ended | 60 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2012
|
Sep. 30, 2011
|
Sep. 30, 2012
|
Oct. 24, 2012
|
Sep. 07, 2012
|
Jul. 17, 2012
|
Jul. 11, 2012
|
Jun. 28, 2012
Common Stock
|
Dec. 16, 2011
Common Stock
|
Dec. 30, 2010
Common Stock
|
Sep. 30, 2012
Common Stock
|
Sep. 30, 2011
Common Stock
|
Jan. 15, 2010
Class H Warrants
|
Sep. 30, 2012
Class H Warrants
|
Dec. 30, 2010
Class I Warrants
|
Dec. 16, 2011
Class J Warrants
|
Dec. 16, 2011
Class J Warrants
Ratchet Provision
|
|
Warrants date issued | Jan. 15, 2010 | Dec. 30, 2010 | Dec. 16, 2011 | ||||||||||||||
Warrants, issued | 5,583,336 | 2,520,000 | 916,678 | ||||||||||||||
Proceeds from issuance of warrants | $ 1,100,000 | $ 1,050,000 | $ 1,050,000 | $ 1,100,000 | |||||||||||||
Exercise price, warrant | 0.50 | 0.79 | 0.50 | 0.95 | 0.55 | 0.55 | 0.65 | ||||||||||
Exercised price, warrant | 0.18 | ||||||||||||||||
Issuance of common stock to group institutional and accredited investors, shares | 5,299,002 | 1,833,342 | 4,200,000 | 1,833,342 | 4,200,000 | ||||||||||||
Exercise price, reset provision price of issuance | 0.18 | 0.25 | |||||||||||||||
Fair value recognized as derivative liability | 768,696 | 5,893,544 | 768,696 | 2,868,242 | 528,847 | 314,453 | 141,470 | ||||||||||
Forfeited value on the date of exercise | 2,867,856 | ||||||||||||||||
Stock and warrants issued | 958,530 | ||||||||||||||||
Reset provisions expiration | On January 15, 2012, the reset provisions included in the Class H warrants expired. As a result, the warrants are deemed to be indexed solely to the Company's own stock as of that date and therefore are eligible to be included within permanent equity. | ||||||||||||||||
Description of reclassification for reset provision | On January 15, 2012, the Company assessed the fair market value of the derivative prior to expiration and recorded a corresponding gain of $51,769 based on the decrease in fair market value since December 31, 2011. The Company then reclassified the $3,454,094 fair market value of the derivative liability for the reset provision on the date of expiration to shareholders’ equity in accordance with ASC 815-15-35. | ||||||||||||||||
Gain (Loss) on derivative liabilities | 1,812,224 | (3,977,041) | (684,229) | 51,769 | |||||||||||||
Reclassification amount | 3,454,094 | ||||||||||||||||
Allocation of proceeds to stock | 521,153 | 521,153 | 644,077 | ||||||||||||||
Ratchet Provision Benchmark Price | 0.60 | ||||||||||||||||
Ratchet Provision Floor Price Range | $ 0.50 | ||||||||||||||||
Ratchet Provision Terms | This provision will last for one year or will end sooner in the event (i) the Company receives $1,000,000 or more in proceeds for the sale of Common Stock at a price equal or greater to the Benchmark Price and (ii) the Company's trading price exceeds $1.10 for ten consecutive trading days. | ||||||||||||||||
Reset provision, trading price | 1.10 | ||||||||||||||||
Reset provision, proceeds from sale of common stock | 1,000,000 | ||||||||||||||||
Derivative liabilities | $ 768,696 | $ 5,893,544 | $ 768,696 |