Quarterly report pursuant to Section 13 or 15(d)

ASSET ACQUISITION (Tables)

v2.4.0.8
ASSET ACQUISITION (Tables)
 9 Months Ended
Jun. 30, 2014
Business Combinations [Abstract]  
Schedule of purchase price
Purchase Price    
Cash at closing $              3,500,000
Stock Issued              10,180,224
Contingent Consideration Stock                6,362,643
Total Purchase Price $            20,042,867
Summary of the pro forma purchase price allocation
Purchase Price Allocation    
Lab equipment $                 173,467
Computer and software                       2,523
Leasehold improvements                       2,181
Security deposit                     12,243
License rights              17,443,400
Goodwill                2,409,053
Total Purchase Price Allocation $            20,042,867
Schedule of pro forma statement of operations
Pro Forma Consolidated Statement of Operations
For the Nine Months Ended June 30, 2014
(Unaudited)
       
REVENUES $       1,839,000
           
OPERATING EXPENSES    
  General and administrative            739,675
  Professional fees         1,968,774
  Research and development         4,637,590
  Salaries and wages         1,484,923
           
    Total Operating Expenses         8,830,962
           
OPERATING LOSS        (6,991,962)
           
OTHER INCOME (EXPENSE)    
  Interest expense            (61,463)
  Other income and expense               8,122
         
    Total Other Income (Expense)            (53,341)
         
NET LOSS $      (7,045,303)