Annual report pursuant to Section 13 and 15(d)

10. Stock-based Compensation (Tables)

v2.4.1.9
10. Stock-based Compensation (Tables)
12 Months Ended
Sep. 30, 2014
Share-based Compensation [Abstract]  
Stock option activity
                  Weighted        
            Weighted     Average        
            Average     Remaining        
      Number of     Exercise     Contractual     Intrinsic  
      Shares     Price     Life     Value  
Outstanding at September 30, 2012       –                          
Granted       675,000                          
Exercised       –                          
Forfeited       –                          
Outstanding at September 30, 2013       675,000     $ 2.82             $ –  
Granted       –                          
Exercised       –                          
Forfeited       (75,000 )                        
Outstanding at September 30, 2014       600,000       2.76       4.90       318,250  
Exercisable at September 30, 2014       150,000     $ 4.43       5.50       246,250  
                                     
Non-vested share activity
            Weighted-Average  
      Number of     Grant-Date  
Non-vested Shares     Shares     Fair Value  
Nonvested at September 30, 2013       600,000     $ 0.73  
Granted       –                              
Vested       (150,000 )        
Nonvested at September 30, 2014       450,000     $ 0.73  
                     
Assumptions used
    Year Ended
    September 30, 2013
     
Volatility     124%-127%
Risk-free interest rate     .08%-.66%
Expected term     1-3.77 years
Forfeiture rate     10%
Dividend yield rate     0%
Restricted stock award activity
Outstanding (unvested) at September 30, 2013   –  
Granted   21,000  
Forfeited   –  
Vested   (21,000 )
Outstanding (unvested) at September 30, 2014   –