Quarterly report pursuant to sections 13 or 15(d)

Note 7. Warrants (Tables)

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Note 7. Warrants (Tables)
9 Months Ended
Jun. 30, 2013
Notes to Financial Statements  
Schedule of warrants issued
        Number of Units     Weighted Average Exercise Price     Weighted Average Remaining Contractual Term (in years)     Intrinsic Value  
Outstanding at September 30, 2012       109,139     $ 2.85       4.95       253,202  
Granted       846,363       1.78                  
Exercised                              
Outstanding at June 30, 2013       955,502     $ 1.90       4.64       784,037  
Exerciseable at June 30, 2013       955,502     $ 1.90       4.64       784,037  
                                     
Fair value assumptions

 

Volatility    121%-127%
Risk-free interest rate    .74% -.89%
Expected term    5 years
Forfeiture rate   0%
Dividend yield rate   0%