15. QUARTERLY INFORMATION (UNAUDITED)

12 Months Ended

Sep. 30, 2014

Quarterly Financial Information Disclosure [Abstract]

15. QUARTERLY INFORMATION (UNAUDITED)

The following quarterly data are derived from the Company’s statements of operations.

Financial Data

Fiscal 2014
	Three months			Three months			Three months			Three months
	ended			ended			ended			Ended			Year ended
	December 31  2013			March 31, 2014			June 30, 2014			September 30, 2014			September 30, 2014
Revenue	$	113,144		$	67,157		$	15,914		$	67,818		$	264,033
Operating expenses		6,047,454			6,293,592			6,917,243			8,579,856			27,838,145
Non-operating  expenses, net		(10,925	)		(6,797	)		(10,927	)		(12,271	)		(40,920	)
Gain (loss) on derivative           instruments		1,610,817			(7,132,348	)		4,467,776			1,302,522			248,767
Net loss		(4,334,418	)		(13,365,580	)		(2,444,480	)		(7,221,787	)		(27,366,265	)
Issuance of shares due to reset provisions		(1,117,447	)		-			-			-			(1,117,447	)
Net loss available to
common shareholders	$	(5,451,865	)	$	(13,365,580	)	$	(2,444,480	)	$	(7,221,787	)	$	(28,483,712	)
Net loss per share-basic	$	(0.11	)	$	(0.24	)	$	(0.04	)	$	(0.11	)	$	(0.48	)
Net loss per share-diluted	$	(0.15	)	$	(0.24	)	$	(0.11	)	$	(0.13	)	$	(0.49	)
Weighted average shares-basic and diluted		48,215,919			56,239,562			64,664,274			66,091,826			58,804,622

Fiscal 2013
	Three months			Three months			Three months			Three months
	ended			ended			ended			ended			Year ended
	December 31  2012			March 31, 2013			June 30, 2013			September 30, 2013			September 30, 2013
Revenue	$	15,000		$	15,405		$	113,728		$	15,450		$	159,583
Operating expenses		5,059,457			4,255,229			5,626,927			5,087,191			20,027,859
Non operating  expenses, net		(11,987	)		(11,811	)		(13,666	)		(14,928	)		(53,337	)
Gain on derivative           instruments		2,746,198			3,538,264			1,079,392			3,386,812			10,750,666
Net loss		(2,310,246	)		(713,371	)		(4,447,473	)		(1,699,857	)		(9,170,947	)
Modification of warrants		-			-			(59,531	)		-			(59,531	)
Net loss available to
common shareholders	$	(2,310,246	)	$	(713,371	)	$	(4,507,004	)	$	(1,699,857	)	$	(9,230,478	)
Net loss per share-basic	$	(0.08	)	$	(0.02	)	$	(0.15	)	$	(0.05	)	$	(0.30	)
Net loss per share-diluted	$	(0.18	)	$	(0.14	)	$	(0.18	)	$	(0.16	)	$	(0.66	)
Weighted average shares-basic and diluted		28,311,602			30,901,177			30,930,650			30,994,932			30,279,442

The Company has experienced large swings in its quarterly gains and losses in 2014 and 2013 caused by the changes in the fair value of warrants each quarter.