COMMON STOCK OPTIONS (Details Narrative) (USD $)
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3 Months Ended | 75 Months Ended | ||
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Dec. 31, 2013
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Dec. 31, 2012
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Dec. 31, 2013
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Oct. 02, 2013
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Fair Value assumptions: | ||||
Stock price | $ 7.96 | |||
Stock based compensation expense | $ 146,303 | $ 52,495 | $ 1,978,133 | |
Unamortized option expense | 966,000 | 966,000 | ||
Intrinsic value of awards | $ 6,300,000 | $ 6,300,000 | ||
Stock Options
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Fair Value assumptions: | ||||
Expected term | 5 years | |||
Dividend yield | 0.00% | |||
Stock Options | Lower Range
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Fair Value assumptions: | ||||
Stock price | $ 1.20 | $ 1.20 | ||
Exercise Price | $ 1.50 | $ 1.50 | ||
Risk free interest rate | 0.68% | |||
Volatility rate | 191.00% | |||
Stock Options | Upper Range
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Fair Value assumptions: | ||||
Stock price | $ 4.71 | $ 4.71 | ||
Exercise Price | $ 4.74 | $ 4.74 | ||
Risk free interest rate | 2.60% | |||
Volatility rate | 277.00% |