Quarterly report pursuant to Section 13 or 15(d)

COMMON STOCK WARRANTS

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COMMON STOCK WARRANTS
3 Months Ended
Dec. 31, 2014
Common Stock Warrants  
COMMON STOCK WARRANTS

NOTE 6 – COMMON STOCK WARRANTS

 

During the three months ended December 31, 2014, the Company has recorded $8,559 in consulting expense related to warrants that have vested to date including warrants granted in prior years.

 

Below is a table summarizing the warrants issued and outstanding as of December 31, 2014:

 

    Number
Outstanding
  Weighted-Average
Exercise Price
  Outstanding at September 30, 2014       1,947,008     $ 3.64  
  Granted       —         —    
  Exercised       (2,000 )     1.50  
  Forfeited       (32,834 )     1.50  
  Outstanding at December 31, 2014       1,912,174     $ 3.67  

  

The outstanding warrants as of December 31, 2014 have an intrinsic value of approximately $8.5 million.