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CAPITAL STOCK
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9 Months Ended |
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Jun. 30, 2014
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| Stockholders' Equity Note [Abstract] | |
| CAPITAL STOCK |
NOTE 5 CAPITAL STOCK
On October 2, 2013, the Company issued 6,282 shares of common stock to a legal firm to settle $50,000 in accounts payable. These shares were valued at $7.96 which was the price of the stock at the close of business on the previous trading day.
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 shares converted 500,000 preferred shares into 166,667common shares. As of the date of this filing, there are no Series B Preferred shares outstanding.
On March 26, 2014, the Company received a notice of exercise for 500 Warrants with an exercise price of $1.50. Accordingly, the Company issued 500 common shares for proceeds of $750.
On April 8, 2014, the Company sold 1,800,000 shares of common stock at a price of $10.00 per share for net proceeds of $16,876,000.
On May 30, 2014, the Company issued 1,194,862 common shares to acquire certain assets of SKS pursuant to a contribution agreement (see Note 3). The shares were valued at $8.52 per share for a fair value of $10,180,224.
On June 25, 2014, the Company received a notice of exercise for 50,000 Warrants with an exercise price of $1.20. Accordingly, the Company issued 50,000 common shares for proceeds of $60,000.
During the nine months ended June 30, 2014, the Company received 28 notices of cashless exercise for 2,208,411 Warrants. Accordingly, the Company issued 1,847,237 common shares and 361,764 warrants were surrendered and cancelled in accordance with the cashless exercise option. |