Emmaus Life Sciences, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

STOCKHOLDERS' DEFICIT (Tables)

STOCKHOLDERS' DEFICIT (Tables)

6 Months Ended

Mar. 31, 2015

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]

Stock-based compensation expenses are generally recognized over the employees’ or service provider’s requisite service period, generally the vesting period of the award. Stock-based compensation expense included in the accompanying statements of operations for the three months and six months ended March 31, 2015 and 2014 is as follows:

	For the three months ended March 31,
	2015		2014
Cost of Neurometric Services revenues	$	-	$	2,200
Research		10,400		21,200
Product Development		15,500		67,000
Sales and marketing		53,400		24,700
General and administrative		20,500		187,900
Total	$	99,800	$	303,000

	For the six months ended March 31,
	2015		2014
Cost of Neurometric Services revenues	$	-	$	5,100
Research		20,800		46,900
Product Development		34,000		138,100
Sales and marketing		63,300		51,000
General and administrative		44,100		425,800
Total	$	162,200	$	666,900

Schedule of Share-based Compensation, Activity [Table Text Block]

Following is a summary of the status of options outstanding at March 31, 2015:

Exercise Price		Number of Shares	Expiration Date	Weighted Average Exercise Price

$	0.04718	8,920,300	12/2022 01/2023	$	0.04718
$	0.25	2,777,605	03/2023 01/2025		0.25
$	0.26	425,000	07/2024		0.26
$	3.00	42,670	03/2022		3.00
$	3.60	28,648	08/2016		3.60
$	3.96	32,928	08/2016		3.96
$	9.00	4,525	11/2016		9.00
$	12.00	28,535	03/2019 07/2020		12.00
$	14.10	10,000	03/2021		14.10
$	15.30	1,373	09/2018		15.30
$	16.50	262,441	03/2020		16.50
$	17.70	953	08/2016		17.70
$	24.00	4,667	12/2017		24.00
$	26.70	32,297	09/2017		26.70
$	28.80	11,767	04/2018		28.80
$	32.70	83,790	08/2017		32.70
	Total	12,667,499		$	0.83

Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]

Following is a summary of the status of warrants outstanding at March 31, 2015:

Exercise Price		Number of Shares	Expiration Date	Weighted Average Exercise Price

$	0.04718	38,152	03/2018	$	0.04718
	0.25	332,200	04/2016 07/2017		0.25
	0.275	324,000	06/2018 03/2019		0.275
	1.00	67,170	10/2015 01/2017		1.00
	7.50	3,334	05/2016		7.50
$	9.00	16,668	07/2017		9.00
	Total	781,524		$	0.53

Employee Stock Option [Member]

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

A summary of stock option activity is as follows:

	Number of Shares	Weighted Average Exercise Price
Outstanding at September 30, 2014	12,417,499	$	0.84
Granted
Exercised
Forfeited
Outstanding at December 31, 2014	12,417,499	$	0.84
Granted	250,000		0.25
Exercised	-		-
Forfeited	-		-
Outstanding at March 31, 2015	12,667,499	$	0.83

Warrant [Member]

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

The warrant activity for the period starting October 1, 2013, through March 31, 2015, is described as follows:

	Number of Shares	Weighted Average Exercise Price
Outstanding at September 30, 2014	814,744	$	3.07
Granted	200,000		0.25
Exercised	-		-
Forfeited	(226,020)		9.14
Outstanding at December 31,2014	788,724		0.61
Granted	-		-
Exercised	-		-
Forfeited	(7,200)		9.15
Outstanding at March 31, 2015	781,524	$	0.53

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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