Quarterly report pursuant to Section 13 or 15(d)

6. Derivative Liability (Tables)

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6. Derivative Liability (Tables)
9 Months Ended
Jun. 30, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair value assumptions

The range of significant assumptions which the Company used to measure the fair value of derivative liabilities (a level 3 input) at June 30, 2014 is as follows:

 

Stock price   $4.37
Risk free rate   .13%
Volatility   136%
Exercise prices   $3.87
Term (years)   1

 

Schedule of derivative liability activity

The following table represents the Company’s derivative liability activity for both the embedded conversion features for the nine months ended June 30, 2014:  

 

    Amount  
       
Derivative liability balance, September 30, 2013   $  
Issuance of derivative liability during the nine months ended June 30, 2014     139,852  
Change in derivative liability during the nine months ended June 30, 2014     58,185  
Derivative liability balance, June 30, 2014 (unaudited)   $ 198,037