Consolidated Statements of Operations (Unaudited) - USD ($) |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Mar. 31, 2016 |
Mar. 31, 2015 |
Mar. 31, 2016 |
Mar. 31, 2015 |
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| OPERATING EXPENSES | ||||
| General and administrative | $ 2,966,363 | $ 3,334,971 | $ 4,184,492 | $ 4,151,834 |
| Research and development | 4,043,859 | 3,175,855 | 6,120,139 | 5,919,977 |
| Depreciation and amortization | 296,077 | 295,262 | 593,816 | 600,884 |
| Gain on settlement of accounts payable | (710,264) | (710,264) | ||
| OPERATING LOSS | 6,596,035 | 6,806,088 | 10,188,183 | 10,672,695 |
| OTHER INCOME (EXPENSE) | ||||
| Change in fair value of contingent consideration | 1,305,623 | 3,786,193 | (1,251,926) | 3,102,807 |
| Share in losses on investment in joint venture | (41,211) | (67,861) | ||
| Other income | 3,419 | 35,813 | ||
| Interest income (exepnse), net | 5,553 | (536) | 6,369 | (663) |
| Impairment of intangibles | (338,906) | (338,906) | ||
| Total Other Income (Expense) | 1,311,176 | 3,405,540 | (1,242,138) | 2,731,190 |
| LOSS FROM OPERATIONS BEFORE INCOME TAXES | $ (5,284,859) | (3,400,548) | (11,430,321) | (7,941,505) |
| PROVISION FOR INCOME TAXES | ||||
| NET LOSS | $ (5,284,859) | $ (3,400,548) | $ (11,430,321) | $ (7,941,505) |
| BASIC AND DILUTED LOSS PER SHARE (in dollars per share) | $ (0.17) | $ (0.12) | $ (0.37) | $ (0.30) |
| WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: | ||||
| BASIC AND DILUTED (in shares) | 31,344,424 | 27,713,410 | 30,906,114 | 26,479,538 |
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- Definition The fair value adjustment for contingent consideration during period. No definition available.
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- Definition Represent information about the gain on settlement of accounts payable. No definition available.
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- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. No definition available.
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- References No definition available.
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of impairment loss recognized in the period resulting from the write-down of the carrying amount of a finite-lived intangible asset to fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The net amount of operating interest income (expense). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition Amount of revenue and income classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). No definition available.
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