Quarterly report pursuant to Section 13 or 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.5.0.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 9 Months Ended
Jun. 30, 2016
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:

 

    June 30,
2016		     September 30,
2015		  
Annual dividend yield     -       -  
Expected life (years)     1.5       0.5  
Risk-free interest rate     0.58 %     0.08 %
Expected volatility     206.51 %     48 %
Schedule of fair value measurements, recurring and nonrecurring

    Carrying Value     Fair Value Measurements at  
    As of     June 30, 2016  
    June 30,     Using Fair Value Hierarchy  
    2016     Level 1     Level 2     Level 3  
Liabilities                                
Embedded derivative liabilities     1,473,600       -       -       1,473,600  
Total   $ 1,473,600     $ -     $ -     $ 1,473,600  

 

    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