Quarterly report pursuant to Section 13 or 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.19.1
STOCK-BASED COMPENSATION (Tables)
6 Months Ended
Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of fair value assumptions for stock-options

The fair value of the stock-options granted during 2018 and 2019 were determined using the Black Scholes valuation model with the following key assumptions: 

 

Date of Grant   May 1, 2018     June 1, 2018     January 2, 2019  
Number of Stock Options Granted     500,000       67,500,000       1,000,000  
Stock Price   $ 0.065     $ 0.075     $ 0.045  
Exercise Price   $ 0.065     $ 0.075     $ 0.045  
Expected Life of Options     4.25 years       4.25 years       3.75 years  
Risk Free Rate     2.74 %     2.675 %     2.51 %
Volatility     145.21 %     145.21 %     126.37 %

 

Schedule for summary of stock options activity

The following table summarizes the Company’s stock option activity during the six months ended March 31, 2019:

 

    Number
of Options
    Weighted
Average
Exercise Price
    Weighted Average
Remaining
Contractual Term
(In years)
    Average Intrinsic
Value
 
Outstanding at September 30, 2018     103,500,000       0.0605                  
Granted     1,000,000                        
Exercised                            
Cancelled                            
Outstanding at March 31, 2019     104,500,000     $ 0.0604       2.82       $1.5 million  
Vested and expected to vest     104,500,000     $ 0.0604       2.82       $1.5 million  
Exercisable at March 31, 2019     55,000,000     $ 0.0475       2.82       $1.5 million