Annual report pursuant to Section 13 and 15(d)

COMMON STOCK/PAID IN CAPITAL (Tables)

v3.19.3.a.u2
COMMON STOCK/PAID IN CAPITAL (Tables)
12 Months Ended
Sep. 30, 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:

  

    June 2016     November 2016     June 2017       January 2018  
Remaining Warrants   7.6 million     1.7 million     2.3 million       0.9 Million  
Stock Price:   $ 0.054 (1)   $ 0.029 (1)   $ 0.025 (1)   $ 0.11 (1)
Exercise Price   $ 0.03     $ 0.03     $ 0.03     $ 0.10  
Term     3 years       3 years       2 years       1.5 years  
Risk Free Rate     .87 %     1.28 %     1.35 %     1.89%  
Volatility     135 %     131 %     135 %     163%  

  

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

 

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

  

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

A summary of warrants, issued in conjunction with the Bridge Financing Notes and outstanding at September 30, 2019:

  

          Warrants Outstanding     Warrants Exercisable  
Date Issued   Exercise Price     Number
Outstanding
    Weighted
Average
Remaining
Contractual
Life (Yrs)
    Weighted
Average
Exercise
Price
    Number
Exercisable
    Weighted
Average
Exercise
Price
 
June 2016   $ 0.03       7,566,667       .58     $ 0.03       7,566,667     $ 0.03  
November 2016   $ 0.03       1,666,667       .58     $ 0.03       1,666,667     $ 0.03  
June 2017   $ 0.03       1,891,667       .58     $ 0.03       1,891,667     $ 0.03  
November 2017   $ 0.03       416,667       .58     $ 0.03       416,667     $ 0.03  
January 2018   $ 0.10       923,333        .58     $ 0.10       923,333     $ 0.10  

  

A summary of the warrants, issued in conjunction with Bridge Financing Notes, Private Placements and Services Rendered and outstanding at September 30, 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       2.25     $ 0.10       550,000     $ 0.10  
$ 0.10       1,100,000       2.46     $ 0.10       1,100,000     $ 0.10  
$ 0.10       1,100,000       3.04     $ 0.10       1,100,000     $ 0.10  
$ 0.10       1,100,000       3.21     $ 0.10       1,100,000     $ 0.10  
$ 0.09       9,662,500       1.90     $ 0.09       9,662,500     $ 0.09  
$ 0.15       2,027,780       1.99     $ 0.15       2,027,780     $ 0.15  
$ 0.042       23,809,523       0.55     $ 0.042       23,809,523     $ 0.042  
$ 0.04       50,000,000       4.73     $ 0.04       50,000,000     $ 0.04