Annual report pursuant to Section 13 and 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.10.0.1
STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of fair value assumptions for stock-options

The following table summarizes the Company’s stock option activity during the year ended September 30, 2018:

  

    Number of
Options
    Weighted Average Exercise Price     Weighted Average Remaining Contractual Term (Years)     Average Intrinsic Value  
Outstanding at beginning of period     35,500,000     $ 0.033                  
Granted     68,000,000       0.075                
Exercised                          
Cancelled                          
Outstanding at end of period     103,500,000     $ 0.0605       3.32     $ 1.2 million  
Vested and expected to vest     103,500,000     $ 0.0605       3.32     $ 1.2 million  
Exercisable at end of period     54,500,000     $ 0.0475           $ 1.3 million  
Summary of stock options activity

The Company uses the Black-Scholes option-pricing model to estimate the fair value of options granted. The weighted-average fair values of stock options granted for the years ended September 30, 2018 and 2017 were based on the following assumptions at the date of grant as follows:

  

    2018     2017  
Expected dividend yield     0 %     0 %
Expected stock price volatility     145.2 %     127.2 %
Risk-free interest rate     2.7 %     1.71 %
Expected life of options     7 years       4 years  
Weighted-average grant date fair value   $ 0.065     $ 0.022