Quarterly report pursuant to Section 13 or 15(d)

COMMON STOCK/PAID IN CAPITAL (Tables)

v3.19.1
COMMON STOCK/PAID IN CAPITAL (Tables)
6 Months Ended
Mar. 31, 2019
Stockholders' Equity Note [Abstract]  
Schedule of fair value of the warrants using the Black Scholes valuation model

The fair value of the warrants were determined using the Black Scholes valuation model with the following key assumptions:

 

Warrants Issue Date   June 2016     July 2016     August 2016     November 2016     June 2017     July 2017     August 2017     January 2018  
Warrants Outstanding   12.6
million
    10.0
million
    3.3
million
    1.7
million
    3.1
million
    2.5
million
    1.25
million
    2.8
million
 
Stock Price (1)   $ 0.054     $ 0.040     $ 0.032     $ 0.029     $ 0.025     $ 0.019     $ 0.016     $ 0.11  
Exercise Price   $ 0.03     $ 0.03     $ 0.03     $ 0.03     $ 0.03     $ 0.03     $ 0.03     $ 0.10  
Term (2)     3 years       3 years       3 years       3 years       2 years       2 years       2 years       1.5 years  
Risk Free Rate     .87 %     .80 %     .88 %     1.28 %     1.35 %     1.35 %     1.33 %     1.89 %
Volatility     135 %     138 %     137 %     131 %     135 %     136 %     135 %     163 %

 

(1) Fair market value on the date of agreement.

(2) Average term.

 

The fair value of the warrants were determined using the Black Scholes valuation model with the following key assumptions:  

 

  December 2018
Number of Warrants Issued   9,662,500  
Stock Price $ 0.044  
Exercise Price $ 0.09  
Term   3 years  
Risk Free Rate   2.46 %
Volatility   149 %

 

Schedule of warrants issued in conjunction with convertible notes

Below is a summary of warrants issued in conjunction with convertible notes which were paid in full as of September 30, 2018. The warrants are outstanding at March 31, 2019.

 

        Warrants Outstanding     Warrants Exercisable  
  Exercise Price       Number Outstanding  

Remaining Contractual

Life (Yrs)

   

Weighted Average

Exercise Price

     

Number

Exercisable

     

Weighted Average

Exercise Price

 
$ 0.10       550,000       2.75     $ 0.10       550,000     $ 0.10  
$ 0.10       1,100,000       2.96     $ 0.10       1,100,000     $ 0.10  
$ 0.10       1,100,000       3.55     $ 0.10       1,100,000     $ 0.10  
$ 0.10       1,100,000       3.71     $ 0.10       1,100,000     $ 0.10