Quarterly report pursuant to Section 13 or 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 9 Months Ended
Jun. 30, 2015
Accounting Policies [Abstract]  
Schedule of fair value inputs liabilities

The Company used Level 2 inputs for its valuation methodology for the conversion option liability in determining the fair value using the Black-Scholes option-pricing model with the following assumption inputs:

 

    June 30, 2015  
Annual dividend yield     -  
Expected life (years)     0.5  
Risk-free interest rate     0.11 %
Expected volatility     42 %

Schedule of fair value measurements, recurring and nonrecurring

 

    Carrying Value     Fair Value Measurements at  
    As of     June 30, 2015  
    June 30,     Using Fair Value Hierarchy  
    2015     Level 1     Level 2     Level 3  
Liabilities                                
Secured Convertible Debt   $ 2,158,800     $ -     $ 2,265,000     $ -  
Total   $ 2,158,800     $ -     $ 2,265,000     $ -