SALE OF PREFERRED SHARES AND WARRANTS (Tables)

12 Months Ended

Sep. 30, 2013

SALE OF PREFERRED SHARES AND WARRANTS [Abstract]

Summary of Assumptions Used to Compute Fair Value of Warrants

The assumptions used to compute the fair value of the warrants at September 30, 2013 and 2012 were as follows:

	September 30, 2013			September 30, 2012
	Warrant A			Warrant A
Risk-free interest rate		0.51	%		0.41	%
Dividend yield		0.00	%		0.00	%
Volatility of the Company's common stock		71.15	%		117.30	%
Expected life of the options (years)		2.6			3.6
Fair value per unit	$	0.444		$	0.881

The assumptions used to compute the fair value of the warrants at the time of issuance were as follows:

	Warrant A			Warrant B
Risk-free interest rate		1.87	%		0.18	%
Dividend yield		0.00	%		0.00	%
Volatility of the Company's common stock		106.91	%		116.01	%
Expected life of the options (years)		5.0			1.0
Fair value per unit	$	1.433		$	0.779