Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Dec. 31, 2013 | Feb. 13, 2014 | |
Document And Entity Information | ' | ' |
Entity Registrant Name | 'OHR PHARMACEUTICAL INC | ' |
Entity Central Index Key | '0001173281 | ' |
Document Type | '10-Q | ' |
Document Period End Date | 31-Dec-13 | ' |
Amendment Flag | 'false | ' |
Current Fiscal Year End Date | '--09-30 | ' |
Is Entity a Well-known Seasoned Issuer? | 'No | ' |
Is Entity a Voluntary Filer? | 'No | ' |
Is Entity's Reporting Status Current? | 'Yes | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 19,970,046 |
Document Fiscal Period Focus | 'Q1 | ' |
Document Fiscal Year Focus | '2014 | ' |
Balance_Sheets_Unaudited
Balance Sheets (Unaudited) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 |
CURRENT ASSETS | ' | ' |
Cash | $4,016,224 | $5,122,895 |
Prepaid expenses | 19,817 | 45,350 |
Total Current Assets | 4,036,041 | 5,168,245 |
EQUIPMENT, net | 26,834 | 29,755 |
OTHER ASSETS | ' | ' |
Patent costs, net | 526,257 | 545,865 |
TOTAL ASSETS | 4,589,132 | 5,743,865 |
CURRENT LIABILITIES | ' | ' |
Accounts payable and accrued expenses | 250,231 | 465,686 |
Notes payable | ' | 14,051 |
Total Current Liabilities | 250,231 | 479,737 |
TOTAL LIABILITIES | 250,231 | 479,737 |
STOCKHOLDERS' EQUITY | ' | ' |
Preferred stock, Series B; 6,000,000 shares authorized, $0.0001 par value, 0 and 500,000 shares issued and outstanding, respectively | ' | 50 |
Common stock; 180,000,000 shares authorized, $0.0001 par value, 19,970,046 and 19,741,541 shares issued and outstanding, respectively | 1,997 | 1,974 |
Additional paid-in capital | 40,541,713 | 39,444,988 |
Accumulated deficit | -21,628,748 | -21,628,748 |
Deficit accumulated during the development stage | -14,576,061 | -12,554,136 |
Total Stockholders' Equity | 4,338,901 | 5,264,128 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $4,589,132 | $5,743,865 |
Balance_Sheets_Unaudited_Paren
Balance Sheets (Unaudited) (Parenthetical) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 |
Statement of Financial Position [Abstract] | ' | ' |
Preferred stock, par value | $0.00 | $0.00 |
Preferred stock, shares authorized | 6,000,000 | 6,000,000 |
Preferred stock, shares issued | 0 | 500,000 |
Preferred stock, shares outstanding | 0 | 500,000 |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 180,000,000 | 180,000,000 |
Common stock, shares issued | 19,970,046 | 19,741,541 |
Common stock, shares outstanding | 19,970,046 | 19,741,541 |
Statements_of_Operations_Unaud
Statements of Operations (Unaudited) (USD $) | 3 Months Ended | 75 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
Income Statement [Abstract] | ' | ' | ' |
REVENUES | ' | ' | ' |
COST OF SALES | ' | ' | ' |
GROSS PROFIT | ' | ' | ' |
OPERATING EXPENSES | ' | ' | ' |
General and administrative | 57,777 | 70,190 | 1,503,686 |
Professional fees | 384,215 | 47,031 | 3,334,040 |
Research and development | 1,352,356 | 578,513 | 6,388,691 |
Salaries and wages | 227,145 | 119,017 | 2,547,866 |
Total Operating Expenses | 2,021,493 | 814,751 | 13,774,283 |
OPERATING LOSS | -2,021,493 | -814,751 | -13,774,283 |
OTHER INCOME (EXPENSE) | ' | ' | ' |
Interest expense | -513 | -559 | -56,742 |
Gain/(Loss) on derivative liability | ' | -1,403,123 | -1,801,871 |
Gain on sale of assets | ' | ' | 70,500 |
Gain on settlement of debt | ' | ' | 153,557 |
Other income | 81 | 81 | 154,365 |
Total Other Income (Expense) | -432 | -1,403,601 | -1,480,191 |
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | -2,021,925 | -2,218,352 | -15,254,474 |
PROVISION FOR INCOME TAXES | ' | ' | ' |
LOSS BEFORE DISCONTINUED OPERATIONS | -2,021,925 | -2,218,352 | -15,254,474 |
Income from discontinued operations(including gain on disposal of $606,000) | ' | ' | 678,413 |
Income tax benefit | ' | ' | ' |
GAIN ON DISCONTINUED OPERATIONS | ' | ' | 678,413 |
NET LOSS | ($2,021,925) | ($2,218,352) | ($14,576,061) |
BASIC AND DILUTED LOSS PER SHARE | ($0.10) | ($0.14) | ' |
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED | 19,872,539 | 15,857,093 | ' |
Statements_of_Operations_Unaud1
Statements of Operations (Unaudited) (Parenthetical) (USD $) | 75 Months Ended |
Dec. 31, 2013 | |
Income Statement [Abstract] | ' |
Gain on disposal of discontinued operations | $606,000 |
Statements_of_Cash_Flows_Unaud
Statements of Cash Flows (Unaudited) (USD $) | 3 Months Ended | 75 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
OPERATING ACTIVITIES | ' | ' | ' |
Net loss | ($2,021,925) | ($2,218,352) | ($14,576,061) |
Adjustments to reconcile net loss to net cash used by operating activities: | ' | ' | ' |
Discontinued operations | ' | ' | -678,413 |
Common stock issued for services | ' | ' | 599,989 |
Fair value of warrants issued for services | 700,393 | 167,996 | 2,219,775 |
Fair value of employee stock options | 146,303 | 52,495 | 1,978,133 |
Gain (loss) on extinguishment of debt | ' | ' | -89,592 |
Gain on sale of asset | ' | ' | -70,500 |
(Gain) loss on derivative liability | ' | 1,403,123 | 1,801,871 |
Depreciation | 2,921 | 2,364 | 31,587 |
Amortization of patent costs | 19,608 | 19,607 | 273,743 |
Changes in operating assets and liabilities | ' | ' | ' |
Prepaid expenses and deposits | 25,533 | 7,563 | 118,941 |
Other receivables and other current assets | ' | ' | 85,025 |
Accounts payable and accrued expenses | -165,455 | -95,914 | 108,393 |
Net Cash Used in Operating Activities | -1,292,622 | -661,148 | -8,197,109 |
INVESTING ACTIVITIES | ' | ' | ' |
Proceeds from sale of asset | ' | ' | 70,500 |
Purchase of equipment | ' | ' | -58,421 |
Purchase of patents and other intellectual property | ' | ' | -300,000 |
Discontinued operations | ' | ' | 418,000 |
Net Cash Provided by (Used in) Investing Activities | ' | ' | 130,079 |
FINANCING ACTIVITIES | ' | ' | ' |
Proceeds from the sale of preferred stock and warrants | ' | ' | 1,005,000 |
Proceeds from the sale of common stock and warrants | ' | ' | 2,150,000 |
Proceeds from warrants exercised for cash | 200,002 | 111,891 | 9,359,317 |
Proceeds from related party payables | ' | ' | 125,453 |
Repayments of related party payables | ' | ' | -125,453 |
Proceeds from short-term notes payable | ' | ' | 64,408 |
Repayments of short-term notes payable | -14,051 | -14,562 | -202,746 |
Repayment of convertible debentures | ' | ' | -490,000 |
Net Cash Provided by Financing Activities | 185,951 | 97,329 | 11,885,979 |
NET CHANGE IN CASH | -1,106,671 | -563,819 | 3,818,949 |
CASH AT BEGINNING OF PERIOD | 5,122,895 | 2,632,413 | 197,275 |
CASH AT END OF PERIOD | 4,016,224 | 2,068,594 | 4,016,224 |
CASH PAID FOR: | ' | ' | ' |
Interest | 513 | 560 | 76,445 |
Income Taxes | ' | ' | ' |
NON CASH FINANCING ACTIVITIES: | ' | ' | ' |
Common stock and warrants issued in advance of services | ' | ' | 5,320,432 |
Financing of insurance premiums through issuance of short term notes | ' | ' | 138,338 |
Conversion of preferred for common stock | 50 | 14 | 558 |
Noncash exercise of options | ' | 9 | 11 |
Transfer of investment for dividends payable | ' | ' | 186,000 |
Purchase of patents for debenture | ' | ' | 500,000 |
Conversion of debenture | ' | ' | 10,000 |
Common stock issued to settle accounts payable | 50,000 | ' | 50,000 |
Options issued to settle accounts payable | ' | ' | $3,991 |
CONDENSED_FINANCIAL_STATEMENTS
CONDENSED FINANCIAL STATEMENTS | 3 Months Ended |
Dec. 31, 2013 | |
Condensed Financial Statements | ' |
CONDENSED FINANCIAL STATEMENTS | ' |
NOTE 1 – CONDENSED FINANCIAL STATEMENTS | |
The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission (“SEC”) and should be read in conjunction with the audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K filed with the SEC on December 27, 2013. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at December 31, 2013, and for all periods presented herein, have been made. | |
Certain information and footnote disclosures that would substantially duplicate disclosures contained in the audited financial statements for the most recent fiscal year as reported in the Form 10-K have been condensed or omitted. The results of operations for the periods ended December 31, 2013 and 2012 are not necessarily indicative of the operating results for the full years. | |
On June 3, 2013, the Company effected a 1:3 reverse stock split on its shares of common stock. All stock numbers, conversion rates and warrant exercise terms reflect this split and are presented as post-split numbers. |
SUMMARY_OF_SIGNIFICANT_ACCOUNT
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 3 Months Ended |
Dec. 31, 2013 | |
Summary Of Significant Accounting Policies | ' |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ' |
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Use of Estimates | |
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Estimates subject to change in the near term include impairment (if any) of long-lived assets. | |
Recent Accounting Pronouncements | |
Management has considered all recent accounting pronouncements issued since the last audit of the Company’s financial statements. The Company’s management believes that these recent pronouncements will not have a material effect on the Company’s financial statements. |
NOTES_PAYABLE
NOTES PAYABLE | 3 Months Ended |
Dec. 31, 2013 | |
Notes Payable [Abstract] | ' |
NOTES PAYABLE | ' |
NOTE 3 – NOTES PAYABLE | |
On April 1, 2013, the Company entered into a premium financing arrangement for its directors and officers insurance in the amount of $63,600. The financing arrangement bears interest at 7.25% and will be fully paid in 12 months from the date of issuance. As of December 31, 2013, the Company had repaid $63,600 of principal and had paid interest of $2,301 in cash. The note has been fully repaid as of December 31, 2013. |
CAPITAL_STOCK
CAPITAL STOCK | 3 Months Ended |
Dec. 31, 2013 | |
Capital Stock | ' |
CAPITAL STOCK | ' |
NOTE 4 – CAPITAL STOCK | |
On October 2, 2013, the Company issued 6,282 shares of common stock to a legal firm to settle $50,000 in accounts payable. These shares were valued at $7.96 which was the price of the stock at the date of settlement. | |
On October 31, 2013, the Company received a notice of exercise for 55,556 Series A Warrants with an exercise price of $3.60. Accordingly, the Company issued 55,556 common shares for proceeds of $200,002. | |
On November 13, 2013, two holders of its Series B preferred shares converted 500,000 preferred shares into 166,667 common shares. As of the date of this filing, there are no Series B Preferred shares outstanding. |
COMMON_STOCK_WARRANTS
COMMON STOCK WARRANTS | 3 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Common Stock Warrants | ' | |||||||||||||||||
COMMON STOCK WARRANTS | ' | |||||||||||||||||
NOTE 5 – COMMON STOCK WARRANTS | ||||||||||||||||||
For all warrants included within permanent equity, the Company has determined the estimated value of the warrants granted to non-employees in exchange for services and financing expenses using the Black-Scholes pricing model and the following assumptions: stock price at valuation, $0.63-$7.96; expected term of 3-5 years, exercise price of $1.50-$7.96, a risk free interest rate of 0.21-2.90 percent, a dividend yield of 0 percent and volatility of 114-276 percent. | ||||||||||||||||||
On October 1, 2013, the Company issued a total of 100,000 warrants with a fair market value of $556,534 for services rendered to the Company. The warrants vested immediately. | ||||||||||||||||||
On October 31, 2013, the Company received a notice of exercise for 55,556 Series A Warrants with an exercise price of $3.60. Accordingly, the Company issued 55,556 common shares for proceeds of $200,002. | ||||||||||||||||||
On December 30, 2013, the Company issued a total of 26,667 warrants with a fair market value of $111,339 for services rendered to the Company. The warrants vested immediately. | ||||||||||||||||||
As of December 31, 2013, the Company has recorded $700,393 in consulting expense related to the warrants that have vested to date including warrants granted in prior years. | ||||||||||||||||||
Below is a table summarizing the warrants issued and outstanding as of December 31, 2013: | ||||||||||||||||||
Date | Number | Exercise | Contractual | Expiration | ||||||||||||||
Issued | Outstanding | Price | Life (Years) | Date | ||||||||||||||
Balance 10/1/08 | 4,503,286 | 3.54 | 5 | Various | ||||||||||||||
3/20/09 | 1,666,667 | 1.5 | 5 | 3/31/14 | ||||||||||||||
6/3/09 | 3,722,224 | 0.54 | 5 | 6/3/14 | ||||||||||||||
9/30/09 | 50,000 | 1.2 | 5 | 6/30/14 | ||||||||||||||
Expired | — | — | — | — | ||||||||||||||
Balance 9/30/09 | 9,942,177 | 2.06 | — | — | ||||||||||||||
10/9/09 | 29,333 | 1.5 | 5 | 10/29/14 | ||||||||||||||
11/9/09 | 6,000 | 1.5 | 5 | 11/9/14 | ||||||||||||||
12/4/09 | 43,333 | 1.8 | 2 | 12/4/11 | ||||||||||||||
12/15/09 | (1,861,112 | ) | 0.54 | — | — | |||||||||||||
1/15/10 | 1,861,112 | 1.65 | 5 | 1/15/15 | ||||||||||||||
1/15/10 | (1,861,112 | ) | 0.54 | — | — | |||||||||||||
4/9/10 | 3,333 | 1.65 | 5 | 4/9/15 | ||||||||||||||
7/23/10 | 31,000 | 1.5 | 3 | 7/23/13 | ||||||||||||||
Expired | — | — | — | — | ||||||||||||||
Balance 9/30/10 | 8,194,064 | 2.66 | — | — | ||||||||||||||
12/30/10 | 840,000 | 1.65 | 5 | 12/30/15 | ||||||||||||||
5/12/11 | 18,333 | 1.5 | 5 | 5/12/16 | ||||||||||||||
6/13/11 | 100,000 | 1.5 | 2 | 6/13/13 | ||||||||||||||
7/15/11 | 33,333 | 1.62 | 5 | 7/15/16 | ||||||||||||||
7/15/11 | 40,000 | 1.62 | 5 | 7/15/16 | ||||||||||||||
8/23/11 | 16,667 | 2.01 | 3 | 8/23/14 | ||||||||||||||
Expired | (363,523 | ) | 3.57 | — | — | |||||||||||||
Balance 9/30/11 | 8,878,874 | 2.5 | — | — | ||||||||||||||
12/16/11 | 305,559 | 1.95 | 5 | 12/16/16 | ||||||||||||||
12/21/12 | 1,042 | 1.95 | 5 | 12/21/12 | ||||||||||||||
3/3/12 | 116,667 | 1.95 | 5 | 3/3/17 | ||||||||||||||
4/10/12 | (14,464 | ) | 1.8 | — | — | |||||||||||||
4/12/12 | 5,000 | 2.7 | 3 | 4/12/15 | ||||||||||||||
5/18/12 | 116,667 | 2.85 | 3 | 5/18/15 | ||||||||||||||
6/28/12 | (1,766,334 | ) | 1.65 | — | — | |||||||||||||
6/28/12 | 1,059,803 | 3.6 | 5 | 6/28/17 | ||||||||||||||
7/11/12 | 16,667 | 2.85 | 3 | 7/11/15 | ||||||||||||||
7/17/12 | (10,000 | ) | 1.5 | — | — | |||||||||||||
9/7/12 | 25,000 | 3 | 5 | 9/7/17 | ||||||||||||||
Expired | (206,843 | ) | 2.37 | — | — | |||||||||||||
Balance 9/30/12 | 8,527,638 | 2.8 | — | — | ||||||||||||||
10/24/12 | (66,667 | ) | 1.5 | — | — | |||||||||||||
3/7/13 | (6,996 | ) | 3.57 | — | — | |||||||||||||
3/11/13 | (1,679 | ) | 3.57 | — | — | |||||||||||||
3/21/13 | 40,000 | 4.32 | 5 | 3/21/18 | ||||||||||||||
3/21/13 | 16,667 | 4.32 | 3 | 3/21/18 | ||||||||||||||
3/22/13 | (3,704 | ) | 1.65 | — | — | |||||||||||||
3/27/13 | (840,000 | ) | 1.65 | — | — | |||||||||||||
4/18/13 | (1,406,320 | ) | 3.57 | — | — | |||||||||||||
6/7/13 | (6,519 | ) | 1.65 | — | — | |||||||||||||
6/14/13 | (1,000 | ) | 1.5 | — | — | |||||||||||||
7/2/13 | (50,000 | ) | 1.5 | — | — | |||||||||||||
9/20/13 | (13,889 | ) | 1.95 | — | — | |||||||||||||
Expired | (326,597 | ) | 3.57 | — | — | |||||||||||||
9/30/13 | 5,860,934 | 2.77 | — | — | ||||||||||||||
10/1/13 | 100,000 | 7.96 | 3 | 10/1/16 | ||||||||||||||
10/31/13 | (55,556 | ) | 3.6 | — | — | |||||||||||||
12/30/13 | 26,667 | 7.94 | 3 | 12/30/16 | ||||||||||||||
Expired | — | — | — | — | ||||||||||||||
12/31/13 | 5,932,045 | 2.88 | — | — | ||||||||||||||
The outstanding warrants as of December 31, 2013 have an intrinsic value of approximately $29.6 million. |
COMMON_STOCK_OPTIONS
COMMON STOCK OPTIONS | 3 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Common Stock Options | ' | |||||||||||||||||
COMMON STOCK OPTIONS | ' | |||||||||||||||||
NOTE 6 – COMMON STOCK OPTIONS | ||||||||||||||||||
The Company has determined the estimated value of the options granted to employees and non-employees in exchange for services and financing expenses using the Black-Scholes pricing model and the following assumptions: stock price at valuation, $1.20-4.71; expected term of five years, exercise price of $1.50-4.74, a risk free interest rate of 0.68-2.60 percent, a dividend yield of 0 percent and volatility of 191-277 percent. | ||||||||||||||||||
During the three month period ended December 31, 2013, the Company recognized $146,303 of expense related to vested options that were granted in prior years. Unamortized option expense as of December 31, 2013 for all options outstanding amounted to approximately $966,000. | ||||||||||||||||||
Below is a table summarizing the options issued and outstanding as of December 31, 2013: | ||||||||||||||||||
Date | Number | Exercise | Contractual | Expiration | ||||||||||||||
Issued | Outstanding | Price | Life (Years) | Date | ||||||||||||||
Prior 10/1/2008 | — | $ | — | — | — | |||||||||||||
4/9/09 | 193,047 | 1.95 | 5 | 4/9/13 | ||||||||||||||
Balance 09/30/2009 | 193,047 | 1.95 | — | — | ||||||||||||||
4/12/10 | 333,334 | 1.5 | 5 | 4/12/15 | ||||||||||||||
Expired | (10,725 | ) | 1.95 | — | — | |||||||||||||
Balance 9/30/2010 | 515,656 | 1.66 | — | — | ||||||||||||||
Issued | — | — | — | — | ||||||||||||||
Expired | — | — | — | — | ||||||||||||||
Balance 9/30/2011 | 515,656 | 1.66 | — | — | ||||||||||||||
3/9/12 | 566,667 | 1.71 | — | 3/9/17 | ||||||||||||||
Expired | — | — | — | — | ||||||||||||||
Balance 9/30/2012 | 1,082,323 | 1.69 | — | — | ||||||||||||||
Exercised - 11/30/12 | (53,624 | ) | 1.78 | — | — | |||||||||||||
Exercised - 03/27/13 | (128,698 | ) | 1.65 | — | — | |||||||||||||
Issued - 04/30/13 | 116,667 | 4.74 | 5 | 4/30/18 | ||||||||||||||
Issued - 05/17/13 | 116,667 | 4.68 | 5 | 5/17/18 | ||||||||||||||
Expired | — | — | — | — | ||||||||||||||
9/30/13 | 1,133,335 | 2.31 | — | — | ||||||||||||||
Issued | — | — | — | — | ||||||||||||||
Expired | — | — | — | — | ||||||||||||||
12/31/13 | 1,133,335 | $ | 2.31 | — | — | |||||||||||||
As of December 31, 2013, the outstanding options have an intrinsic value of approximately $6.3 million. |
SUBSEQUENT_EVENTS
SUBSEQUENT EVENTS | 3 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' |
SUBSEQUENT EVENTS | ' |
NOTE 7 – SUBSEQUENT EVENTS | |
On January 2, 2014, the Company issued warrants to purchase 20,550 common shares to a consultant for services rendered to the Company. The warrants vested immediately, have an exercise price of $7.88 per common share and a term of 5 years. | |
On January 7, 2014, the Company issued warrants to purchase 100,000 common shares to a consultant for services to be rendered to the Company. 25,000 warrants vested immediately, with the remainder vesting over the next three quarterly periods. The warrants have an exercise price of $7.94 per common share and a term of 3 years. | |
On February 3, 2014, the Company issued options to purchase 500,000 common shares to the officers of the Company. 125,000 options vested immediately, with the remainder vesting equally over the next three anniversary dates of the options. The options have an exercise price of $10.11 per common share and a term of 3 years. |
SUMMARY_OF_SIGNIFICANT_ACCOUNT1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 3 Months Ended |
Dec. 31, 2013 | |
Summary Of Significant Accounting Policies Policies | ' |
Use of Estimates | ' |
Use of Estimates | |
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Estimates subject to change in the near term include impairment (if any) of long-lived assets. | |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements | |
Management has considered all recent accounting pronouncements issued since the last audit of the Company’s financial statements. The Company’s management believes that these recent pronouncements will not have a material effect on the Company’s financial statements. |
COMMON_STOCK_WARRANTS_Tables
COMMON STOCK WARRANTS (Tables) | 3 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Common Stock Warrants Tables | ' | |||||||||||||||||
Schedule of outstanding warrants | ' | |||||||||||||||||
Below is a table summarizing the warrants issued and outstanding as of December 31, 2013: | ||||||||||||||||||
Date | Number | Exercise | Contractual | Expiration | ||||||||||||||
Issued | Outstanding | Price | Life (Years) | Date | ||||||||||||||
Balance 10/1/08 | 4,503,286 | 3.54 | 5 | Various | ||||||||||||||
3/20/09 | 1,666,667 | 1.5 | 5 | 3/31/14 | ||||||||||||||
6/3/09 | 3,722,224 | 0.54 | 5 | 6/3/14 | ||||||||||||||
9/30/09 | 50,000 | 1.2 | 5 | 6/30/14 | ||||||||||||||
Expired | — | — | — | — | ||||||||||||||
Balance 9/30/09 | 9,942,177 | 2.06 | — | — | ||||||||||||||
10/9/09 | 29,333 | 1.5 | 5 | 10/29/14 | ||||||||||||||
11/9/09 | 6,000 | 1.5 | 5 | 11/9/14 | ||||||||||||||
12/4/09 | 43,333 | 1.8 | 2 | 12/4/11 | ||||||||||||||
12/15/09 | (1,861,112 | ) | 0.54 | — | — | |||||||||||||
1/15/10 | 1,861,112 | 1.65 | 5 | 1/15/15 | ||||||||||||||
1/15/10 | (1,861,112 | ) | 0.54 | — | — | |||||||||||||
4/9/10 | 3,333 | 1.65 | 5 | 4/9/15 | ||||||||||||||
7/23/10 | 31,000 | 1.5 | 3 | 7/23/13 | ||||||||||||||
Expired | — | — | — | — | ||||||||||||||
Balance 9/30/10 | 8,194,064 | 2.66 | — | — | ||||||||||||||
12/30/10 | 840,000 | 1.65 | 5 | 12/30/15 | ||||||||||||||
5/12/11 | 18,333 | 1.5 | 5 | 5/12/16 | ||||||||||||||
6/13/11 | 100,000 | 1.5 | 2 | 6/13/13 | ||||||||||||||
7/15/11 | 33,333 | 1.62 | 5 | 7/15/16 | ||||||||||||||
7/15/11 | 40,000 | 1.62 | 5 | 7/15/16 | ||||||||||||||
8/23/11 | 16,667 | 2.01 | 3 | 8/23/14 | ||||||||||||||
Expired | (363,523 | ) | 3.57 | — | — | |||||||||||||
Balance 9/30/11 | 8,878,874 | 2.5 | — | — | ||||||||||||||
12/16/11 | 305,559 | 1.95 | 5 | 12/16/16 | ||||||||||||||
12/21/12 | 1,042 | 1.95 | 5 | 12/21/12 | ||||||||||||||
3/3/12 | 116,667 | 1.95 | 5 | 3/3/17 | ||||||||||||||
4/10/12 | (14,464 | ) | 1.8 | — | — | |||||||||||||
4/12/12 | 5,000 | 2.7 | 3 | 4/12/15 | ||||||||||||||
5/18/12 | 116,667 | 2.85 | 3 | 5/18/15 | ||||||||||||||
6/28/12 | (1,766,334 | ) | 1.65 | — | — | |||||||||||||
6/28/12 | 1,059,803 | 3.6 | 5 | 6/28/17 | ||||||||||||||
7/11/12 | 16,667 | 2.85 | 3 | 7/11/15 | ||||||||||||||
7/17/12 | (10,000 | ) | 1.5 | — | — | |||||||||||||
9/7/12 | 25,000 | 3 | 5 | 9/7/17 | ||||||||||||||
Expired | (206,843 | ) | 2.37 | — | — | |||||||||||||
Balance 9/30/12 | 8,527,638 | 2.8 | — | — | ||||||||||||||
10/24/12 | (66,667 | ) | 1.5 | — | — | |||||||||||||
3/7/13 | (6,996 | ) | 3.57 | — | — | |||||||||||||
3/11/13 | (1,679 | ) | 3.57 | — | — | |||||||||||||
3/21/13 | 40,000 | 4.32 | 5 | 3/21/18 | ||||||||||||||
3/21/13 | 16,667 | 4.32 | 3 | 3/21/18 | ||||||||||||||
3/22/13 | (3,704 | ) | 1.65 | — | — | |||||||||||||
3/27/13 | (840,000 | ) | 1.65 | — | — | |||||||||||||
4/18/13 | (1,406,320 | ) | 3.57 | — | — | |||||||||||||
6/7/13 | (6,519 | ) | 1.65 | — | — | |||||||||||||
6/14/13 | (1,000 | ) | 1.5 | — | — | |||||||||||||
7/2/13 | (50,000 | ) | 1.5 | — | — | |||||||||||||
9/20/13 | (13,889 | ) | 1.95 | — | — | |||||||||||||
Expired | (326,597 | ) | 3.57 | — | — | |||||||||||||
9/30/13 | 5,860,934 | 2.77 | — | — | ||||||||||||||
10/1/13 | 100,000 | 7.96 | 3 | 10/1/16 | ||||||||||||||
10/31/13 | (55,556 | ) | 3.6 | — | — | |||||||||||||
12/30/13 | 26,667 | 7.94 | 3 | 12/30/16 | ||||||||||||||
Expired | — | — | — | — | ||||||||||||||
12/31/13 | 5,932,045 | 2.88 | — | — |
COMMON_STOCK_OPTIONS_Tables
COMMON STOCK OPTIONS (Tables) | 3 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Common Stock Options Tables | ' | |||||||||||||||||
Schedule of options issued and outstanding | ' | |||||||||||||||||
Below is a table summarizing the options issued and outstanding as of December 31, 2013: | ||||||||||||||||||
Date | Number | Exercise | Contractual | Expiration | ||||||||||||||
Issued | Outstanding | Price | Life (Years) | Date | ||||||||||||||
Prior 10/1/2008 | — | $ | — | — | — | |||||||||||||
4/9/09 | 193,047 | 1.95 | 5 | 4/9/13 | ||||||||||||||
Balance 09/30/2009 | 193,047 | 1.95 | — | — | ||||||||||||||
4/12/10 | 333,334 | 1.5 | 5 | 4/12/15 | ||||||||||||||
Expired | (10,725 | ) | 1.95 | — | — | |||||||||||||
Balance 9/30/2010 | 515,656 | 1.66 | — | — | ||||||||||||||
Issued | — | — | — | — | ||||||||||||||
Expired | — | — | — | — | ||||||||||||||
Balance 9/30/2011 | 515,656 | 1.66 | — | — | ||||||||||||||
3/9/12 | 566,667 | 1.71 | — | 3/9/17 | ||||||||||||||
Expired | — | — | — | — | ||||||||||||||
Balance 9/30/2012 | 1,082,323 | 1.69 | — | — | ||||||||||||||
Exercised - 11/30/12 | (53,624 | ) | 1.78 | — | — | |||||||||||||
Exercised - 03/27/13 | (128,698 | ) | 1.65 | — | — | |||||||||||||
Issued - 04/30/13 | 116,667 | 4.74 | 5 | 4/30/18 | ||||||||||||||
Issued - 05/17/13 | 116,667 | 4.68 | 5 | 5/17/18 | ||||||||||||||
Expired | — | — | — | — | ||||||||||||||
9/30/13 | 1,133,335 | 2.31 | — | — | ||||||||||||||
Issued | — | — | — | — | ||||||||||||||
Expired | — | — | — | — | ||||||||||||||
12/31/13 | 1,133,335 | $ | 2.31 | — | — |
NOTES_PAYABLE_Details_Narrativ
NOTES PAYABLE (Details Narrative) (USD $) | 3 Months Ended | 75 Months Ended | 9 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | |
Financing Arrangement Directors and Officers Insurance | ||||
Face amount of notes | ' | ' | ' | $63,600 |
Notes payable, interest rate | ' | ' | ' | 7.25% |
Principal repaid | ' | ' | ' | 63,600 |
Interest Paid | $513 | $560 | $76,445 | $2,301 |
CAPITAL_STOCK_Details_Narrativ
CAPITAL STOCK (Details Narrative) (USD $) | 0 Months Ended | 3 Months Ended | 75 Months Ended | 0 Months Ended | |||||
Oct. 31, 2013 | Oct. 02, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Jan. 07, 2014 | Jan. 02, 2014 | Nov. 13, 2013 | Nov. 13, 2013 | |
Series B Preferred Shares | Common Stock | ||||||||
Common stock issued to settle accounts payable, shares | ' | 6,282 | ' | ' | ' | ' | ' | ' | ' |
Common stock issued to settle accounts payable | ' | $50,000 | $50,000 | ' | $50,000 | ' | ' | ' | ' |
Stock price | ' | $7.96 | ' | ' | ' | ' | ' | ' | ' |
Warrant exercise price | 3.6 | ' | ' | ' | ' | 7.94 | 7.88 | ' | ' |
Shares issued upon warrant exercise | 55,556 | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from warrants exercised for cash | $200,002 | ' | $200,002 | $111,891 | $9,359,317 | ' | ' | ' | ' |
Shares issued in conversion | ' | ' | ' | ' | ' | ' | ' | -500,000 | 166,667 |
COMMON_STOCK_WARRANTS_Details_
COMMON STOCK WARRANTS (Details Narrative) (USD $) | 0 Months Ended | 3 Months Ended | 75 Months Ended | ||||
Dec. 30, 2013 | Oct. 02, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Jan. 07, 2014 | Jan. 02, 2014 | |
Fair Value assumptions: | ' | ' | ' | ' | ' | ' | ' |
Stock price | ' | $7.96 | ' | ' | ' | ' | ' |
Warrants outstanding | 26,667 | 100,000 | ' | ' | ' | 100,000 | 20,550 |
Warrants issued for services | $111,339 | $556,534 | ' | ' | $599,989 | ' | ' |
Consulting Expense, as recorded in professional fees | ' | ' | 700,393 | ' | ' | ' | ' |
Intrinsic value of warrants | ' | ' | $29,600,000 | ' | $29,600,000 | ' | ' |
Warrants | ' | ' | ' | ' | ' | ' | ' |
Fair Value assumptions: | ' | ' | ' | ' | ' | ' | ' |
Dividend yield | ' | ' | 0.00% | ' | ' | ' | ' |
Warrants | Lower Range | ' | ' | ' | ' | ' | ' | ' |
Fair Value assumptions: | ' | ' | ' | ' | ' | ' | ' |
Stock price | ' | ' | $0.63 | ' | $0.63 | ' | ' |
Expected term | ' | ' | '3 years | ' | ' | ' | ' |
Exercise Price | ' | ' | $1.50 | ' | $1.50 | ' | ' |
Risk free interest rate | ' | ' | 0.21% | ' | ' | ' | ' |
Volatility rate | ' | ' | 114.00% | ' | ' | ' | ' |
Warrants | Upper Range | ' | ' | ' | ' | ' | ' | ' |
Fair Value assumptions: | ' | ' | ' | ' | ' | ' | ' |
Stock price | ' | ' | $7.96 | ' | $7.96 | ' | ' |
Expected term | ' | ' | '5 years | ' | ' | ' | ' |
Exercise Price | ' | ' | $7.96 | ' | $7.96 | ' | ' |
Risk free interest rate | ' | ' | 2.90% | ' | ' | ' | ' |
Volatility rate | ' | ' | 276.00% | ' | ' | ' | ' |
COMMON_STOCK_WARRANTS_Details
COMMON STOCK WARRANTS (Details) | 0 Months Ended | 0 Months Ended | 0 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jan. 07, 2014 | Jan. 02, 2014 | Dec. 30, 2013 | Oct. 31, 2013 | Oct. 02, 2013 | Sep. 30, 2008 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Sep. 30, 2009 | Dec. 30, 2013 | Oct. 31, 2013 | Oct. 02, 2013 | Sep. 20, 2013 | Jul. 02, 2013 | Jun. 14, 2013 | Jun. 07, 2013 | Apr. 18, 2013 | Mar. 27, 2013 | Mar. 21, 2013 | Mar. 22, 2013 | Mar. 11, 2013 | Mar. 07, 2013 | Dec. 21, 2012 | Oct. 24, 2012 | Sep. 07, 2012 | Jul. 17, 2012 | Jul. 11, 2012 | Jun. 28, 2012 | 18-May-12 | Apr. 12, 2012 | Apr. 10, 2012 | Mar. 03, 2012 | Dec. 16, 2011 | Aug. 23, 2011 | Jul. 15, 2011 | Jun. 13, 2011 | 12-May-11 | Dec. 30, 2010 | Jul. 23, 2010 | Apr. 09, 2010 | Jan. 15, 2010 | Dec. 15, 2009 | Dec. 04, 2009 | Nov. 09, 2009 | Oct. 09, 2009 | Sep. 30, 2009 | Jun. 03, 2009 | Mar. 20, 2009 | Mar. 21, 2013 | Jun. 28, 2012 | Jul. 15, 2011 | Jan. 15, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |
Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants | Warrants Expired | Warrants Expired | Warrants Expired | ||||||
Outstanding Warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants Outstanding | 100,000 | 20,550 | 26,667 | ' | 100,000 | 4,503,286 | 5,932,045 | 5,860,934 | 8,527,638 | 8,878,874 | 8,194,064 | 9,942,177 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants granted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 26,667 | ' | 100,000 | ' | ' | ' | ' | ' | ' | 40,000 | ' | ' | ' | 1,042 | ' | 25,000 | ' | 16,667 | 1,059,803 | 116,667 | 5,000 | ' | 116,667 | 305,559 | 16,667 | 33,333 | 100,000 | 18,333 | 840,000 | 31,000 | 3,333 | 1,861,112 | ' | 43,333 | 6,000 | 29,333 | 50,000 | 3,722,224 | 1,666,667 | 16,667 | 1,059,803 | 40,000 | 1,861,112 | ' | ' | ' |
Warrants exercised | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -55,556 | ' | -13,889 | -50,000 | -1,000 | -6,519 | -1,406,320 | -840,000 | ' | -3,704 | -1,679 | -6,996 | ' | -66,667 | ' | -10,000 | ' | -1,766,334 | ' | ' | -14,464 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,861,112 | -1,861,112 | ' | ' | ' | ' | ' | ' | ' | -1,766,334 | ' | -1,861,112 | ' | ' | ' |
Exercise price, warrant | 7.94 | 7.88 | ' | 3.6 | ' | 3.54 | 2.88 | 2.77 | 2.8 | 2.5 | 2.66 | 2.06 | 7.94 | 3.6 | 7.96 | 1.95 | 1.5 | 1.5 | 1.65 | 3.57 | 1.65 | 4.32 | 1.65 | 3.57 | 3.57 | 1.95 | 1.5 | 3 | 1.5 | 2.85 | 1.65 | 2.85 | 2.7 | 1.8 | 1.95 | 1.95 | 2.01 | 1.62 | 1.5 | 1.5 | 1.65 | 1.5 | 1.65 | 1.65 | 0.54 | 1.8 | 1.5 | 1.5 | 1.2 | 0.54 | 1.5 | 1.32 | 3.6 | 1.62 | 0.54 | ' | ' | ' |
Contractual Life (years) | '3 years | '5 years | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | '3 years | ' | '3 years | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | '5 years | ' | '5 years | ' | '3 years | '5 years | '3 years | '3 years | ' | '5 years | '5 years | '3 years | '5 years | '2 years | '5 years | '5 years | '3 years | '5 years | '5 years | ' | '2 years | '5 years | '5 years | '5 years | '5 years | '5 years | '3 years | '5 years | '5 years | '5 years | ' | ' | ' |
Expiration Date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30-Dec-16 | ' | 1-Oct-16 | ' | ' | ' | ' | ' | ' | 21-Mar-18 | ' | ' | ' | 21-Dec-12 | ' | 7-Sep-17 | ' | 11-Jul-15 | 28-Jun-17 | 18-May-15 | 12-Apr-15 | ' | 3-Mar-17 | 16-Dec-16 | 23-Aug-14 | 15-Jul-16 | 13-Jun-13 | 12-May-16 | 30-Dec-15 | 23-Jul-13 | 9-Apr-15 | 15-Jan-15 | ' | 4-Dec-11 | 9-Nov-14 | 29-Oct-14 | 30-Jun-14 | 3-Jun-14 | 14-Mar-31 | 21-Mar-16 | 28-Jun-17 | 15-Jul-16 | 15-Jan-15 | ' | ' | ' |
Warrants expired in period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -326,597 | -206,843 | -363,523 |
Exercise price of warrants expired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.57 | 2.37 | 3.57 |
COMMON_STOCK_OPTIONS_Details_N
COMMON STOCK OPTIONS (Details Narrative) (USD $) | 3 Months Ended | 75 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Oct. 02, 2013 | |
Fair Value assumptions: | ' | ' | ' | ' |
Stock price | ' | ' | ' | $7.96 |
Stock based compensation expense | $146,303 | $52,495 | $1,978,133 | ' |
Unamortized option expense | 966,000 | ' | 966,000 | ' |
Intrinsic value of awards | $6,300,000 | ' | $6,300,000 | ' |
Stock Options | ' | ' | ' | ' |
Fair Value assumptions: | ' | ' | ' | ' |
Expected term | '5 years | ' | ' | ' |
Dividend yield | 0.00% | ' | ' | ' |
Stock Options | Lower Range | ' | ' | ' | ' |
Fair Value assumptions: | ' | ' | ' | ' |
Stock price | $1.20 | ' | $1.20 | ' |
Exercise Price | $1.50 | ' | $1.50 | ' |
Risk free interest rate | 0.68% | ' | ' | ' |
Volatility rate | 191.00% | ' | ' | ' |
Stock Options | Upper Range | ' | ' | ' | ' |
Fair Value assumptions: | ' | ' | ' | ' |
Stock price | $4.71 | ' | $4.71 | ' |
Exercise Price | $4.74 | ' | $4.74 | ' |
Risk free interest rate | 2.60% | ' | ' | ' |
Volatility rate | 277.00% | ' | ' | ' |
COMMON_STOCK_OPTIONS_Details
COMMON STOCK OPTIONS (Details) (USD $) | 0 Months Ended | 12 Months Ended | ||||||||||||
Feb. 03, 2014 | 17-May-13 | Apr. 30, 2013 | Mar. 27, 2013 | Nov. 30, 2012 | Mar. 09, 2012 | Apr. 12, 2010 | Apr. 09, 2009 | Sep. 30, 2010 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2009 | |
Stock Options | Stock Options | Stock Options | Stock Options | Stock Options | Stock Options | Stock Options | Stock Options | Stock Options | Stock Options | Stock Options | Stock Options | Stock Options | ||
Options Issued and Outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 515,656 | 1,133,335 | 1,133,335 | 1,082,323 | 515,656 | 193,047 |
Options granted | 500,000 | 116,667 | 116,667 | ' | ' | 566,667 | 333,334 | 193,047 | ' | ' | ' | ' | ' | ' |
Options granted, exercise price | $10.11 | $4.68 | $4.74 | ' | ' | $1.71 | $1.50 | $1.95 | ' | ' | ' | ' | ' | ' |
Options outstanding, exercise price | ' | ' | ' | ' | ' | ' | ' | ' | $1.66 | $2.31 | $2.31 | $1.69 | $1.66 | $1.95 |
Contractual Life (Years) | '3 years | '5 years | '5 years | ' | ' | ' | '5 years | '5 years | ' | ' | ' | ' | ' | ' |
Expiration Date | ' | 17-May-18 | 30-Apr-18 | ' | ' | 9-Mar-17 | 12-Apr-15 | 9-Apr-13 | ' | ' | ' | ' | ' | ' |
Options expired in period | ' | ' | ' | ' | ' | ' | ' | ' | -10,725 | ' | ' | ' | ' | ' |
Exercise price of options expired | ' | ' | ' | ' | ' | ' | ' | ' | $1.95 | ' | ' | ' | ' | ' |
Options excercised | ' | ' | ' | -128,698 | -53,624 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise price of options exercised | ' | ' | ' | $1.65 | $1.78 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
SUBSEQUENT_EVENTS_Details_Narr
SUBSEQUENT EVENTS (Details Narrative) (USD $) | 0 Months Ended | |||||
Feb. 03, 2014 | Jan. 07, 2014 | Jan. 02, 2014 | Dec. 30, 2013 | Oct. 31, 2013 | Oct. 02, 2013 | |
Subsequent Events Details Narrative | ' | ' | ' | ' | ' | ' |
Warrants outstanding | ' | 100,000 | 20,550 | 26,667 | ' | 100,000 |
Warrant exercise price | ' | 7.94 | 7.88 | ' | 3.6 | ' |
Contractual Life (years) | ' | '3 years | '5 years | ' | ' | ' |
Warrants vested at issuance | ' | 25,000 | ' | ' | ' | ' |
Options granted | 500,000 | ' | ' | ' | ' | ' |
Options vested | 125,000 | ' | ' | ' | ' | ' |
Options granted, exercise price | $10.11 | ' | ' | ' | ' | ' |
Contractual Life (Years) | '3 years | ' | ' | ' | ' | ' |