Quarterly report pursuant to Section 13 or 15(d)

9. Stock Options (Tables)

v3.2.0.727
9. Stock Options (Tables)
 9 Months Ended
Jun. 30, 2015
Share-based Compensation [Abstract]  
Stock option activity
    Number of Shares     Weighted Average Exercise Price     Weighted Average Remaining Contractual Life     Intrinsic Value  
Outstanding at September 30, 2014       600,000     $ 2.76         $ –  
Granted       450,000     $ 2.53                  
Exercised       –                          
Forfeited       –                          
Outstanding at June 30, 2015       1,050,000     $ 1.87       5.01     $ 689,875  
Exercisable at June 30, 2015       675,000     $ 1.73       4.51     $ 542,500  
                                     
Option table by exercise price
Outstanding   Exercisable
Number of   Exercise   Number of   Exercise
Options   Price   Options   Price
187,500 $0.83   187,500 $0.83
150,000   1.25   150,000   1.25
187,500   1.67   37,500   1.67
37,500   2.08   0   2.08
37,500   2.50   0   2.50
450,000   2.53   300,000   2.53
1,050,000       675,000    
Non-vested share activity
            Weighted-Average  
      Number of     Grant-Date  
Non-vested Shares     Shares     Fair Value  
Nonvested at September 30, 2014       450,000     $                 0.73  
Granted       450,000     $ 1.92  
Vested       (525,000 )        
Nonvested at June 30, 2015       375,000     $ 1.44  
                     
Assumptions used
Risk-free interest rate   1.01%
Expected life of the options   2.5 to 3.5 years
Expected volatility   140%
Expected dividend yield   0%