Creative Waste Solutions (CWSS) 10-K 19 Feb 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Sep. 30, 2015	Feb. 19, 2016
Document And Entity Information
Entity Registrant Name	SILVERSTAR RESOURCES, INC.
Entity Central Index Key	1,385,329
Document Type	10-K
Document Period End Date	Sep. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Entity a Well-known Seasoned Issuer	No
Entity a Voluntary Filer	No
Entity's Reporting Status Current	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float		$ 226,441
Entity Common Stock, Shares Outstanding		3,436,840
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,015

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2015	Sep. 30, 2014
Current Assets:
Cash and cash equivalents	$ 209	$ 24
Total current assets	209	24
Total Assets	209	24
Current Liabilities:
Accounts payable and accrued expenses	114,521	118,768
Convertible debentures, related parties	224,896	75,754
Convertible debentures	18,912	28,912
Note payable	141,989	81,989
Advances - related parties	55,746	$ 130,508
Derivative liability	4,152,164
Total current liabilities	4,708,228	$ 435,931
Total liabilities	$ 4,708,228	$ 435,931
Stockholders' deficit:
Preferred Stock; $.001 value 5,000,000 shares authorized, none issued and outstanding
Common Stock; $.001 par value, 225,000,000 authorized 3,436,840 and 2,591,840 shares issued and outstanding	$ 3,437	$ 2,592
Additional paid-in capital	2,281,275	1,795,158
Accumulated deficit	(6,992,731)	(2,233,657)
Total stockholders' deficit	(4,708,019)	(435,907)
Total Liabilities and Stockholders' (Deficit)	$ 209	$ 24

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2015	Sep. 30, 2014
Stockholders' Equity (Deficit)
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	225,000,000	225,000,000
Common stock, shares issued	3,436,840	2,591,840
Common stock, shares outstanding	3,436,840	2,591,840

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Operating Expenses:
General and administrative	$ 344,232	$ 178,865
Mine expense		111,882
Loss from operations	$ (344,232)	$ (290,747)
Other expenses:
Loss on derivative liability	(4,152,164)
Interest expense	(175,151)	$ (23,611)
Loss on settlement of accounts payable	(3,585)	(133)
Total other expenses	(4,330,900)	(23,744)
Net loss from continuing operations	(4,675,132)	$ (314,491)
Net loss from discontinued operations	(83,942)
Net loss	$ (4,759,074)	$ (314,491)
Basic and diluted loss per common share
Continuing operations	$ (1.47)	$ (0.16)
Discontinued operations	(0.03)
Earnings per share basic and diluted	$ (1.49)	$ (0.16)
Basic and diluted weighted average common shares outstanding	3,189,604	1,997,507

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT - USD ($)	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Beginning Balance, Shares at Sep. 30, 2013	59,786
Beginning Balance, Amount at Sep. 30, 2013	$ 60	$ 1,615,664	$ (1,919,166)	$ (303,442)
Common stock issued for convertible debt, Shares	2,517,621
Common stock issued for convertible debt, Amount	$ 2,518	92,007		94,525
Common stock issued for share issuance liability, Shares	14,433
Common stock issued for share issuance liability, Amount	$ 14	$ 87,487		87,501
Net loss			$ (314,491)	(314,491)
Ending Balance, Shares at Sep. 30, 2014	2,591,840
Ending Balance, Amount at Sep. 30, 2014	$ 2,592	$ 1,795,158	$ (2,233,657)	(435,907)
Common stock issued for convertible debt, Shares	800,000
Common stock issued for convertible debt, Amount	$ 800	9,200		10,000
Common shares issued for accounts payable, Shares	3,000
Common shares issued for accounts payable, Amount	$ 3	15,747		15,750
Common stock issue for services , Shares	42,000
Common stock issue for services , Amount	$ 42	251,958		252,000
Value of beneficial conversion feature		149,212		149,212
Gain on settlement of accounts payable with related party		$ 60,000		60,000
Net loss			$ (4,759,074)	(4,759,074)
Ending Balance, Shares at Sep. 30, 2015	3,436,840
Ending Balance, Amount at Sep. 30, 2015	$ 3,437	$ 2,281,275	$ (6,992,731)	$ (4,708,019)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities
Net loss	$ (4,759,074)	$ (314,491)
Adjustments to reconcile net loss to net cash provided by operating activities:
Stock based compensation	$ 252,000
Write down of investment in mineral properties		$ 29,893
Loss in fair value of derivative liability	$ 4,152,164
Loss on settlement of accounts payable	3,585	$ 133
Amortization of beneficial conversion feature	149,212
Impairment of asset	80,000
Changes in operating assets and liabilities
Accounts payable and accrued expense	$ 73,668	$ 74,423
Prepaid expense		249
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	$ (48,445)	$ (209,926)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of mineral property	(20,000)
NET CASH USED IN INVESTING ACTIVITIES	(20,000)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from short term notes	500
Payments on short term notes	$ (500)
Proceeds from note payable		$ 81,989
Proceeds from advances- related parity	$ 68,630	123,853
Repayment of credit card - related party		(1,760)
NET CASH PROVIDED BY FINANCING ACTIVITIES	$ 68,630	204,082
Net increase (decrease) in cash	185	(5,844)
Cash, beginning of period	24	5,868
Cash, end of period	$ 209	$ 24
SUPPLEMENTAL CASH FLOWS INFORMATION
Interest paid
Income taxes paid
SUPPLEMENTAL NON CASH INVESTING AND FINANCING ACTIVITIES:
Discount due to beneficial conversion feature	$ 149,212
Reclassification of advances, related party to convertible debenture, related party	149,212
Reclassification of notes payable, related party to convertible debenture, related party	75,754
Reclassification of accrued interest, related party to advances, related party	5,748
Note payable for purchase of mineral property	60,000
Common stock issued for conversion of convertible debentures	10,000	$ 94,525
Common stock issued for settlement of accounts payable	12,165
Accounts payable settled with former related party	$ 60,000
Common stock issued for share issuance liability		$ 87,501

ORGANIZATION AND BASIS OF PRESE

ORGANIZATION AND BASIS OF PRESENTATION	12 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
NOTE 1 - ORGANIZATION AND BASIS OF PRESENTATION	Silverstar Resources, Inc (formally Silverstar Mining Corp) (the "Company") was incorporated under the laws of the State of Nevada on December 5, 2003. On March 4, 2008, the Company completed a merger with its wholly-owned subsidiary, Silverstar Resources Corp., which was incorporated by the Company solely to effect the name change of the Company to Silverstar Resources Corp. The Company was incorporated for the purpose to promote and carry on any lawful business for which a corporation may be incorporated under the laws of the State of Nevada. On January 23, 2015 the board of directors with the consent of a majority of its shareholders approved amended articles of incorporation to include a change of name to Silverstar Resources, Inc. and a reverse split of its common stock resulting in shareholders receiving one share for every five shares (5 to 1) they hold as of record of that date. In addition the amendment set the authorized shares of common stock at 225,000,000 and preferred stock at 5,000,000 shares both at a par value of $0.001. All share and per share numbers have been retroactively restated to reflect this stock split. On March 10, 2015 the Company formed 1030029 Ltd, an Alberta numbered company as a wholly owned subsidiary to meet the requirements of holding working interest of Alberta producing oil and gas properties.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
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 balance sheet. Actual results could differ from those estimates. Presentation The Company has elected to early adopt Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements Principles of Consolidation The consolidated financial statements of the Company include the Company and its wholly-owned subsidiary. All material intercompany balances and transactions have been eliminated. Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Oil and Gas Revenue Revenues are recognized when hydrocarbons have been delivered, the customer has taken title and collection is reasonably assured. Mineral Property Costs Mineral property acquisition costs are initially capitalized as tangible assets when purchased. At the end of each fiscal quarter end, the Company assesses the carrying costs for impairment. If proven and probable reserves are established for a property and it has been determined that a mineral property can be economically developed, costs will be amortized using the units-of-production method over the estimated life of the probable reserve. Mineral Property Exploration Costs are expensed as incurred Estimated future removal and site restoration costs, when determinable are provided over the life of proven reserves on a units-of-production basis. Costs, which include production equipment removal and environmental remediation, are estimated each period by management based on current regulations, actual expenses incurred, and technology and industry standards. Any charge is included in exploration expense or the provision for depletion and depreciation during the period and the actual restoration expenditures are charged to the accumulated provision amounts as incurred. As of the date of these consolidated financial statements, the Company has not established any proven or probable reserves on its mineral properties and incurred only acquisition and exploration costs. Although the Company has taken steps to verify title to mineral properties in which it has an interest, according to the usual industry standards for the stage of exploration of such properties, these procedures do not guarantee the Company's title. Such properties may be subject to prior agreements or transfers and title may be affected by undetected defects. Property and Equipment Property and equipment are carried at the cost of acquisition and depreciated over the estimated useful lives of the assets. Costs associated with repair and maintenance is expensed as incurred. Costs associated with improvements which extend the life, increase the capacity or improve the efficiency of our property and equipment are capitalized and depreciated over the remaining life of the related asset. Gains and losses on dispositions of equipment are reflected in operations. Depreciation is provided using the straight-line method over the estimated useful lives of the assets. Related Parties The Company follows ASC 850, Related Party Disclosures Foreign Currency Translation The Company's functional and reporting currency is in U.S. dollars. The consolidated financial statements of the Company are translated to U.S. dollars in accordance with ASC 830 Foreign Currency Matters Impairment of Long-Lived Assets The Company reviews the carrying value of its long-lived assets annually or whenever events or changes in circumstances indicate that the historical-cost carrying value of an asset may no longer be appropriate. The Company assesses recoverability of the asset by comparing the undiscounted future net cash flows expected to result from the asset to its carrying value. If the carrying value exceeds the undiscounted future net cash flows of the asset, an impairment loss is measured and recognized. An impairment loss is measured as the difference between the net book value and the fair value of the long-lived asset. Fair value is estimated based upon either discounted cash flow analysis or estimated salvage value. Basic and Diluted Net Income (Loss) Per Share Basic and diluted net income (loss) per share calculations are calculated on the basis of the weighted average number of common shares outstanding during the year. They include the dilutive effect of common stock equivalents in years with net income. Basic and diluted net income per share is the same due to net losses during both periods. Income Taxes Income taxes are provided in accordance with ASC Topic 740 Accounting for Income Taxes Reclassifications Certain amounts in the prior year financial statements have been reclassified to conform to the current year presentation. These reclassifications had no effect on the previously reported net loss or stockholders' deficit. Recently Issued Accounting Pronouncements The Company does not expect the adoption of any recently issued accounting pronouncements to have a significant impact on their financial position, results of operations or cash flows.

GOING CONCERN

GOING CONCERN	12 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
NOTE 3 - GOING CONCERN	As shown in the accompanying financial statements, the Company has an accumulated deficit of $6,992,731 as of September 30, 2015 and incurred a net loss of $4,759,074 for the year ended September 30, 2015. Unless the Company is able to attain profitability and increases in stockholders' equity, these conditions raise substantial doubt as to the Company's ability to continue as a going concern. The consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. The Company continues to review its expense structure in an attempt to reduce operating costs. The Company's expenses are planned to decrease, which would result in an improvement to its results of operations.

MINERAL PROPERTY INVESTMENT

MINERAL PROPERTY INVESTMENT	12 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
NOTE 4 - MINERAL PROPERTY INVESTMENT	The Company holds a mineral property license which it carried as an asset valued at $29,893 as of September 30, 2013. The value was the amount the Company paid to maintain the license on the property. The Company determined that the amounts paid to hold the license should be treated as expense and thus expensed the $29,893 during the year ended September 30, 2014.

ASSET HELD FOR SALE

ASSET HELD FOR SALE	12 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
NOTE 5 - ASSET HELD FOR SALE	On April 14, 2015 the Company acquired the working interest of two producing oil and gas properties in Alberta Canada for US $80,000. The Company has determined that the asset does not fit the future plans of the Company. Under the guidelines of ASC 360 Newly Acquired Asset Classified as Held for Sale Discontinued Operations

CONVERTIBLE DEBENTURES - RELATE

CONVERTIBLE DEBENTURES - RELATED PARTIES	12 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
NOTE 6 - CONVERTIBLE DEBENTURES - RELATED PARTIES	On January 15, 2015 the Company amended the convertible debenture with the principal of $75,754 of a related party so that the debenture became anti-dilutive with a conversion price set at $0.35 regardless of any forward or reverse splits in the Company's common stock. On February 23, 2015 a shareholder holding a debenture with a principal balance of $75,754 and other advances to the Company of $149,212 of which $24,398 was borrowed during September 30, 2015 and $124,814 was the outstanding balance at September 30, 2014 made demand for payment of the total amounts owed including interest. The Company was not able to pay the outstanding balances. The Company and shareholder came to an agreement that the shareholder could convert his $75,754 convertible note payable and interest at $0.15 and the advances of $149,212 plus further advances up to $150,000 at a 15% discount to the closing price as of date of the agreement or $0.15 per share. The shareholder agreed to advance an additional $50,000 to the Company to acquire assets for the Company. The $50,000 is not convertible and is accounted for as advances due to related party see Note 9. The change is terms of the $75,754 convertible note created derivative liability and required the Company to record fair value at the inception of the derivative and for each subsequent reporting period. The fair value of the embedded derivatives at inception was determined using the Black Scholes based on the following assumptions: (1) dividend yield of 0%; (2) expected volatility of 281.67%, (3) weighted average risk-free interest rate of 0.025%, (4) expected life of 2.52 year, and (5) estimated fair value of the Company's common stock is $6.00. The initial fair value of the embedded debt derivative was $1,610,091with the fair value calculated as of September 30, 2015 was $4,152,164. As of September 30, 2015 the change in fair value was measured with derivative liability loss of $4,152,164. The addition of a conversion feature for the advances of $149,212 created a beneficial conversion feature as of September 30, 2015 of $149,212. Due to the advances having no terms and being due on demand, this amount was expensed as interest expense. As of September 30, 2015 and 2014 the amount due under the convertible debentures to related party was $224,896 and $75,754 respectively.

CONVERTIBLE DEBENTURES

CONVERTIBLE DEBENTURES	12 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
NOTE 7 - CONVERTIBLE DEBENTURES	On December 23, 2013 the Company converted $34,523 of convertible debt and interest into 2,483,334 shares of common stock. On March 19, 2014 the Company converted $60,002 of convertible debt and interest into 34,287 shares of common stock. On January 15, 2015, the Company converted $10,000 of convertible debt and interest into 800,000 shares of common stock. The interest due of $5,748 on the date of the conversion was paid on behalf of the Company and recorded as advances due to related party. As of September 30, 2015 and 2014 the amount of convertible debt outstanding was $18,912 and $28,912, respectively.

NOTES PAYABLE

NOTES PAYABLE	12 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
NOTE 8 - NOTES PAYABLE	On June 2, 2014 the Company issued a long term note payable for $81,989 to an entity for advances on work completed on the Company's Ahbau Lake mining property in British Columbia, Canada. The note is unsecured, and bears interest at 10% per year and matures in one year at which time all principal and interest is due and payable. As of September 30, 2015 and 2014 the outstanding balance of was $81,989 and $81,989, respectively. On April 2, 2015 the Company issued a $60,000 one year note bearing interest of 9% as part of the acquisition of the working interest in the Alberta oil and gas property. As of September 30, 2015 the outstanding balance of was $60,000.

ADVANCES - RELATED PARTIES

ADVANCES - RELATED PARTIES	12 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
NOTE 9 - ADVANCES - RELATED PARTIES	During the year ended September 30, 2015 an officer and director and a related party shareholder of the Company advanced $68,630 in cash, paid $5,748 for interest on behalf of the Company and came to an agreement that $24,398 would be convertible and borrowed $123,853 during the year ended September 30, 2014 to the Company by paying certain Company expenses or to pay its expenses. During the year ended September 30, 2015, $149,212 of the total advances was converted into a convertible debenture. As of September 30, 2015 and 2014 the total amount due to the related parties under these advances were $55,746 and $130,508, respectively. The advances are unsecured, do not have a term and carry no interest rate.

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	12 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Note 10 - DERIVATIVE INSTRUMENTS	During the year ended September 30, 2015 the Company changed the conversion features on a convertible instrument that require liability classification under ASC 815. These instruments are measured at fair value at the end of each reporting period. (See Note 6). As defined in FASB ASC 820, fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The Company utilized the market data of similar entities in its industry or assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated, or generally unobservable. The Company classifies fair value balances based on the observability of those inputs. FASB ASC 820 establishes a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to unobservable inputs (level 3 measurement). The three levels of the fair value hierarchy are as follows: · Level 1 - Quoted prices are available in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of financial instruments such as exchange-traded derivatives, marketable securities and listed equities · Level 2 - Pricing inputs are other than quoted prices in active markets included in level 1, which are either directly or indirectly observable as of the reported date and includes those financial instruments that are valued using models or other valuation methodologies. These models are primarily industry-standard models that consider various assumptions, including quoted forward prices for commodities, time value, volatility factors, and current market and contractual prices for the underlying instruments, as well as other relevant economic measures. Substantially all of these assumptions are observable in the marketplace throughout the full term of the instrument, can be derived from observable data or are supported by observable levels at which transactions are executed in the marketplace. Instruments in this category generally include non-exchange-traded derivatives such as commodity swaps, interest rate swaps, options and collars. · Level 3 - Pricing inputs include significant inputs that are generally less observable from objective sources. These inputs may be used with internally developed methodologies that result in management's best estimate of fair value. The following table sets forth by level within the fair value hierarchy the Company's financial assets and liabilities that were accounted for at fair value as September 30, 2015 and 2014: Recurring Fair Value Measures Level 1 Level 2 Level 3 Total Derivative liabilities at September 30, 2015 $ - $ - $ 4,152,164 $ 4,152,164 Derivative liabilities at September 30, 2014 $ - $ - $ - $ - The below table represents the change in the fair value of the derivative liabilities during the year ended September 30, 2015: Fair value of derivatives, September 30, 2014 $ - Derivative day one measurement- loss due to derivative 1,610,091 Change in fair value of derivative liability- loss 2,542,073 Fair value of derivatives, September 30, 2015 $ 4,152,164

EQUITY

EQUITY	12 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
NOTE 11 - EQUITY	On December 23, 2013 the Company issued 2,483,334 shares of common stock with a value of $34,523 for debt. On March 19, 2014 the Company issued 34,287 shares of common stock with a value of $60,002 for debt. On March 26, 2014 the Company issued 14,433 shares of common stock with a value of $87,501 which was offset against the liability "shares to be issued" of $88,125. The difference of $624 was offset against interest expense. On November 18, 2014 the Company issued 3,000 shares with a value of $15,750 to one individual for the settlement of $12,165 of accounts payable .The Company computed the fair value of the stock issued for the debt and recorded a loss on settlement of accounts payable of $3,585 On January 15, 2015 the Company issued 40,000 shares of common stock to an officer with a value of $240,000 for service. On January 15, 2015 the Company issued 2,000 shares to an individual with a value of $12,000 for service. On January 19, 2015, the Company the Company issued 800,000 shares of common stock with a value of $10,000 for debt. During the year ended September 30, 2015, the Company settled certain accounts payable due to a former related party for $60,000 less that the amount of the debt. Since this gain was related to a settlement with a related party at the time of settlement, the gain has been recorded directly to additional paid in capital.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
NOTE 12 - INCOME TAXES	The Company has losses carried forward for income tax purposes through September 30, 2015. There are no current or deferred tax expenses for the years ended September 30, 2015 and 2014 due to the Company's loss position. The Company has fully reserved for any benefits of these losses. The deferred tax consequences of temporary differences in reporting items for financial statement and income tax purposes are recognized, as appropriate. Realization of the future tax benefits related to the deferred tax assets is dependent on many factors, including the Company's ability to generate taxable income within the net operating loss carry-forward period. Management has considered these factors in reaching its conclusion as to the valuation allowance for financial reporting purposes. The provision for refundable federal income tax consists of the following: 2015 2014 Deferred income tax asset attributed to: Current operations $ 68,718 $ 106,927 Less: Change in valuation allowance (68,718 ) (106,927 ) Net refundable amount $ - $ - The composition of the Company's deferred tax assets as at September 30 are as follows: 2015 2014 Income tax operating loss carryforward $ 2,435,770 $ 2,233,657 Statutory federal income tax rate 34 % 34 % Effective income rate 0 % 0 % Deferred tax assets $ 828,162 $ 759,443 Less: Valuation allowance (828,162 ) (759,443 ) Net deferred income tax asset $ - $ - The potential income tax benefit of these losses has been offset by a full valuation allowance. As of September 30, 2015, the Company has an unused net operating loss carry-forward balance of $2,435,770 that is available to offset future taxable income. This unused net operating loss carry-forward balance expires between 2025 and 2034. The issuance of 2,532,054 shares of common stock during the year ended September 30, 2014 affected a change in control of the Company. Due to the change in control, the tax loss carryforward may only be used on a formula basis under IRS section 382 which will affect the benefit the Company can gain from the tax loss.

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	12 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
NOTE 13 - DISCONTINUED OPERATIONS	On April 14, 2015 the Company acquired the working interest of two producing oil and gas properties in Alberta Canada for US $80,000. The Company has determined that the asset does not fit the future plans of the Company. The Company is actively seeking to dispose of the asset through a sale. The Company is treating the disposition of this property as a discontinued operation. At September 30, 2015, the Company determined that this asset was fully impaired and took a charge to earnings of $80,000. In addition, the Company has treated the expenses related with its acquisition of $3,942 as discontinued operations expense.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Note 14 - COMMITMENTS AND CONTINGENCIES	On January 9, 2014 the Company entered into a release and compensation agreement with a former director and officer of the Company. Under the terms of the agreement the Company was to pay by March 31, 2014 $18,050 of account payable due to the former officer and director plus issue 5,000 shares of common stock to the individual. In return the former officer and director was to complete the filing of the Company 10-K for year-end September 30, 2014, resign at that time as an officer and director, assist in the filing of the December 31, 2014 10-Q and return to the Company all the books and records in his possession. Subsequent to his resignation the former officer and director did not return any of the Company's property as agreed plus the December 31, 2013 10-Q required refiling due to misstatement of information. The Company's position is that the former officer and director is in breach of contract. Because the contract was breached, the Company's board of directors did not authorize the issuance of the shares. During the year ended September 30, 2015, the Company settled certain accounts payable due to a former related party for $60,000 less that the amount of the debt. Since this gain was related to a settlement with a related party at the time of settlement, the gain has been recorded directly to additional paid in capital.

SUBSEQUENT EVENT

SUBSEQUENT EVENT	12 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
NOTE 15 - SUBSEQUENT EVENT	On December 29, 2015 the Company issued a $17,500 note bearing interest of 6% to a non-related party in exchange for $17,500 of cash for the purpose of working capital.

SUMMARY OF SIGNIFICANT ACCOUN22

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Sep. 30, 2015
Summary Of Significant Accounting Policies 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 balance sheet. Actual results could differ from those estimates.
Presentation	The Company has elected to early adopt Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements
Principles of Consolidation	The consolidated financial statements of the Company include the Company and its wholly-owned subsidiary. All material intercompany balances and transactions have been eliminated.
Cash and Cash Equivalents	The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.
Oil and Gas Revenue	Revenues are recognized when hydrocarbons have been delivered, the customer has taken title and collection is reasonably assured.
Mineral property costs	Mineral property acquisition costs are initially capitalized as tangible assets when purchased. At the end of each fiscal quarter end, the Company assesses the carrying costs for impairment. If proven and probable reserves are established for a property and it has been determined that a mineral property can be economically developed, costs will be amortized using the units-of-production method over the estimated life of the probable reserve. Mineral Property Exploration Costs are expensed as incurred Estimated future removal and site restoration costs, when determinable are provided over the life of proven reserves on a units-of-production basis. Costs, which include production equipment removal and environmental remediation, are estimated each period by management based on current regulations, actual expenses incurred, and technology and industry standards. Any charge is included in exploration expense or the provision for depletion and depreciation during the period and the actual restoration expenditures are charged to the accumulated provision amounts as incurred. As of the date of these consolidated financial statements, the Company has not established any proven or probable reserves on its mineral properties and incurred only acquisition and exploration costs. Although the Company has taken steps to verify title to mineral properties in which it has an interest, according to the usual industry standards for the stage of exploration of such properties, these procedures do not guarantee the Company's title. Such properties may be subject to prior agreements or transfers and title may be affected by undetected defects.
Property and equipment	Property and equipment are carried at the cost of acquisition and depreciated over the estimated useful lives of the assets. Costs associated with repair and maintenance is expensed as incurred. Costs associated with improvements which extend the life, increase the capacity or improve the efficiency of our property and equipment are capitalized and depreciated over the remaining life of the related asset. Gains and losses on dispositions of equipment are reflected in operations. Depreciation is provided using the straight-line method over the estimated useful lives of the assets.
Related Parties	The Company follows ASC 850, Related Party Disclosures
Foreign currency translation	The Company's functional and reporting currency is in U.S. dollars. The consolidated financial statements of the Company are translated to U.S. dollars in accordance with ASC 830 Foreign Currency Matters
Impairment of long-lived assets	The Company reviews the carrying value of its long-lived assets annually or whenever events or changes in circumstances indicate that the historical-cost carrying value of an asset may no longer be appropriate. The Company assesses recoverability of the asset by comparing the undiscounted future net cash flows expected to result from the asset to its carrying value. If the carrying value exceeds the undiscounted future net cash flows of the asset, an impairment loss is measured and recognized. An impairment loss is measured as the difference between the net book value and the fair value of the long-lived asset. Fair value is estimated based upon either discounted cash flow analysis or estimated salvage value.
Basic and diluted net income per share	Basic and diluted net income (loss) per share calculations are calculated on the basis of the weighted average number of common shares outstanding during the year. They include the dilutive effect of common stock equivalents in years with net income. Basic and diluted net income per share is the same due to net losses during both periods.
Income Taxes	Income taxes are provided in accordance with ASC Topic 740 Accounting for Income Taxes
Reclassifications	Certain amounts in the prior year financial statements have been reclassified to conform to the current year presentation. These reclassifications had no effect on the previously reported net loss or stockholders' deficit.
Recently Issued Accounting Pronouncements	The Company does not expect the adoption of any recently issued accounting pronouncements to have a significant impact on their financial position, results of operations or cash flows.

DERIVATIVE INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)	12 Months Ended
	Sep. 30, 2015
Derivative Instruments Tables
Financial assets and liabilities that were accounted for at fair value	The following table sets forth by level within the fair value hierarchy the Company's financial assets and liabilities that were accounted for at fair value as September 30, 2015 and 2014: Recurring Fair Value Measures Level 1 Level 2 Level 3 Total Derivative liabilities at September 30, 2015 $ - $ - $ 4,152,164 $ 4,152,164 Derivative liabilities at September 30, 2014 $ - $ - $ - $ -
Change in the fair value of the derivative liabilities	The below table represents the change in the fair value of the derivative liabilities during the year ended September 30, 2015: Fair value of derivatives, September 30, 2014 $ - Derivative day one measurement- loss due to derivative 1,610,091 Change in fair value of derivative liability- loss 2,542,073 Fair value of derivatives, September 30, 2015 $ 4,152,164

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Sep. 30, 2015
Income Taxes Tables
Provision for refundable federal income tax	The provision for refundable federal income tax consists of the following: 2015 2014 Deferred income tax asset attributed to: Current operations $ 68,718 $ 106,927 Less: Change in valuation allowance (68,718 ) (106,927 ) Net refundable amount $ - $ -
Composition of the Company's deferred tax assets	The composition of the Company's deferred tax assets as at September 30 are as follows: 2015 2014 Income tax operating loss carryforward $ 2,435,770 $ 2,233,657 Statutory federal income tax rate 34 % 34 % Effective income rate 0 % 0 % Deferred tax assets $ 828,162 $ 759,443 Less: Valuation allowance (828,162 ) (759,443 ) Net deferred income tax asset $ - $ -

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Going Concern Details Narrative
Accumulated deficit	$ 6,992,731	$ 2,233,657
Net loss for the period	$ 4,759,074	$ 314,491

MINERAL PROPERTY INVESTMENT (De

MINERAL PROPERTY INVESTMENT (Details Narrative) - USD ($)	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Mineral Property Investment Details Narrative
Investment in mineral property			$ 29,893
Write down of investment in mineral properties		$ 29,893

ASSET HELD FOR SALE (Details Na

ASSET HELD FOR SALE (Details Narrative)	12 Months Ended
	Sep. 30, 2015USD ($)
Discontinued Operations and Disposal Groups [Abstract]
Impairment charge from discontinued operation	$ 80,000

- CONVERTIBLE DEBENTURES - RELA

- CONVERTIBLE DEBENTURES - RELATED PARTIES (Details Narrative) - USD ($)	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Convertible Debentures - Related Parties Details Narrative
Convertible debentures	$ 224,896	$ 75,754
Outstanding convertible debt pluss interest		$ 124,814
Borrowing amount from other advance	24,398
Initial fair value of the embedded debt derivative	1,610,091
Fair value of the embedded debt derivative	4,152,164
Derivative liability loss	4,152,164
Beneficial conversion amount	$ 149,212

CONVERTIBLE DEBENTURES (Details

CONVERTIBLE DEBENTURES (Details Narrative) - USD ($)	Sep. 30, 2015	Sep. 30, 2014
Convertible Debentures Details Narrative
Convertible debt outstanding	$ 18,912	$ 28,912

NOTES PAYABLE (Details Narrativ

NOTES PAYABLE (Details Narrative) - USD ($)	Sep. 30, 2015	Sep. 30, 2014
Note payable	$ 141,989	$ 81,989
Ahbau Lake mining property [Member}
Outstanding balance of principal	81,989	$ 81,989
Alberta oil and gas property [Member}
Outstanding balance of principal	$ 60,000

DERIVATIVE INSTRUMENTS (Details

DERIVATIVE INSTRUMENTS (Details) - USD ($)	Sep. 30, 2015	Sep. 30, 2014
Derivative liabilities	$ 4,152,164
Level 1 [Member]
Derivative liabilities
Level 2 [Member]
Derivative liabilities
Level 3 [Member]
Derivative liabilities	$ 4,152,164

DERIVATIVE INSTRUMENTS (Detai32

DERIVATIVE INSTRUMENTS (Details 1)	12 Months Ended
	Sep. 30, 2015USD ($)
Derivative Instruments Details 1
Fair value of derivatives, Beginning
Derivative day one measurement- loss due to derivative	$ 1,610,091
Change in fair value of derivative liability- loss	2,542,073
Fair value of derivatives, Ending	$ 4,152,164

EQUITY (Details Narrative)

EQUITY (Details Narrative)	12 Months Ended
	Sep. 30, 2015USD ($)
Equity Details Narrative
Accounts payable due to a former related party	$ 60,000

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Deferred tax asset attributable to:
Current operations	$ 68,718	$ 106,927
Less: Change in valuation allowance	$ (68,718)	$ (106,927)
Net refundable amount

INCOME TAXES (Details1)

INCOME TAXES (Details1) - USD ($)	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Income Taxes Details1
Income tax operating loss carry-forward	$ 2,435,770	$ 2,233,657
Statutory federal income tax rate	34.00%	34.00%
Effective income tax rate	0.00%	0.00%
Deferred tax assets	$ 828,162	$ 759,443
Less: Valuation allowance	$ (828,162)	$ (759,443)
Net deferred tax asset

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($)	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Income Taxes Details Narrative
Net operating loss carry-forward	$ 2,435,770	$ 2,233,657
Net operating loss carry forwards, expiration period	expires between 2025 and 2034.

DISCONTINUED OPERATIONS (Detail

DISCONTINUED OPERATIONS (Details Narrative)	12 Months Ended
	Sep. 30, 2015USD ($)
Discontinued Operations Details Narrative
Fully impaired charge to earnings	$ 80,000
Acquisition cost	$ 3,942

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative)	12 Months Ended
	Sep. 30, 2015USD ($)
Commitments And Contingencies Details Narrative
Gain on settlement of accounts payable with related party	$ 60,000