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)
 3 Months Ended
Dec. 31, 2015
Accounting Policies [Abstract]  
Schedule of fair value inputs liabilities

The Company used Level 3 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:

 

    December 31, 2015     September 30, 2015  
Annual dividend yield     -       -  
Expected life (years)     2.0       0.5  
Risk-free interest rate     1.06 %     0.08 %
Expected volatility     221.58 %     48 %
Schedule of fair value measurements, recurring and nonrecurring

    Carrying Value     Fair Value Measurements at  
    As of     December 31, 2015  
    December 31,     Using Fair Value Hierarchy  
    2015     Level 1     Level 2     Level 3  
Liabilities                                
Embedded derivative liabilities     2,112,900       -       -       2,112,900  
Total   $ 2,112,900     $ -     $ -     $ 2,112,900  

 

    Carrying Value     Fair Value Measurements at  
    As of     September 30, 2015  
    September 30,     Using Fair Value Hierarchy  
    2015     Level 1     Level 2     Level 3  
Liabilities                                
Embedded derivative liabilities     833,000       -       -       833,000  
Total   $ 833,000     $ -     $ -     $ 833,000