FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Mar. 31, 2016

Fair Value Disclosures [Abstract]

Summary of Assumptions Used to Compute Fair Value of Warrants

The assumptions used to compute the fair value of the Class A Warrants at March 31, 2016 and September 30, 2015 were as follows:

	March 31, 2016			September 30, 2015
	Warrant A			Warrant A
Risk-free interest rate		0.21	%		0.14	%
Divi.dend yield		0.00	%		0.00	%
Volatility of the Company's common stock		119.24	%		65.03	%
Expected life of the options (years)		0.1			0.6
Fair value per unit	$	.025		$	.236

Schedule of Financial Liabilities Measured at Fair Value

The following table summarizes fair value measurements by level as of March 31, 2016, for the Company’s financial liabilities measured at fair value on a recurring basis:

	Level 1		Level 2		Level 3
Interest rate swap agreement	$	-	$	46	$	-
Class A warrant liability	$	-	$	21	$	-

The following table summarizes fair value measurements by level as of September 30, 2015, for the Company’s financial liabilities measured at fair value on a recurring basis:

	Level 1		Level 2		Level 3
Interest rate swap agreement	$	-	$	50	$	-
Class A warrant liability	$	-	$	189	$	-