SUBSEQUENT EVENTS
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12 Months Ended |
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Sep. 30, 2013
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Subsequent Events | |
SUBSEQUENT EVENTS |
NOTE 10 SUBSEQUENT EVENTS
On October 2, 2013, the Company issued a total of 100,000 warrants, 75,000 to a consultant for services rendered to the Company, and 25,000 to a related party for use of the Companys office space and office expenses. The warrants vested immediately, have an exercise price of $7.96 per common share and a term of 3 years.
On October 2, 2013, the Company agreed to settle $50,000 of its outstanding legal bills through issuance of 6,282 common shares.
On October 31, 2013, the Company received a notice of exercise for 55,556 Series A Warrants with an exercise price of $3.60. Accordingly, the Company issued 55,556 common shares for proceeds of $200,001.
On November 13, 2013, two holders of its Series B preferred converted 500,000 preferred shares into 166,667 common shares. As of the date of this filing, there are no Series B Preferred Shares outstanding, |