Quarterly report pursuant to Section 13 or 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 6 Months Ended
Mar. 31, 2013
Summary Of Significant Accounting Policies Tables  
Schedule of Fair Value of Financial Instruments

The following table presents the liabilities that are measured and recognized at fair value as of September 30, 2012, on a recurring basis:

 

                 
Liabilities measured at fair value on a recurring                
basis at September 30, 2012:   Level 1   Level 2   Level 3   Total
Stock warrant derivative liabilities   $ —     $ —     $ 768,696     $ 768,696
    $ —     $ —     $ 768,696     $ 768,696
Schedule of Fair Value of Financial Instruments - Level 3 Reconciliation

The following tables present the fair value of financial instruments as of March 31, 2013, by caption on the balance sheet and by ASC 820 valuation hierarchy described above.

 

    Stock Warrant  
Level 3 Reconciliation:   Derivative  
Level 3 assets and liabilities at September 30, 2012   $ 768,696  
Purchases, sales, issuances and settlements (net)     (1,886,338 ) 
Mark to market adjustments     1,117,642  
Total level 3 assets and liabilities at March 31, 2013   $ —