|
7. STOCK COMPENSATION (Tables)
|
12 Months Ended |
|
Sep. 30, 2014
|
| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
|
| Employees and non-employees stock compensation |
The Company awarded employees
and non-employees with stock compensation as follows:
| | |
Fiscal Year Ended September 30, | |
| | |
2014 | | |
2013 | | |
2012 | |
| Employees | |
$ | 3,958,637 | | |
$ | 2,636,905 | | |
$ | 2,266,316 | |
| Non-employees | |
$ | 771,946 | | |
$ | 454,855 | | |
$ | 581,996 | |
|
| Assumptions for Option Pricing |
The fair value of each option grant was estimated
on the date of grant using the Black-Scholes option-pricing model with the following assumptions.
| | |
| 2014 | | |
| 2013 | | |
| 2012 | |
| | |
| | | |
| | | |
| | |
| Expected stock price volatility | |
| 72.81 – 86.87% | | |
| 84.41-92.28% | | |
| 87.72-94.93% | |
| Risk-free interest rate | |
| 0.59 – 2.65% | | |
| 0.75-2.73% | | |
| 0.83-1.92% | |
| Expected life of options | |
| 3.0 – 9.76 Years | | |
| 4.85-9.77 Years | | |
| 4.82-9.66 Years | |
| Expected dividend yield | |
| - | | |
| - | | |
| - | |
|
| Stock Option Plans |
Non-Qualified and Incentive Stock
Option Plans
| |
Outstanding |
|
Exercisable |
| |
|
|
Weighted |
|
|
|
|
Weighted |
|
| |
|
Weighted |
Ave
|
Aggregate |
|
|
Weighted |
Ave
|
Aggregate |
| |
Number
of |
Average |
Remaining
Contractual |
Intrinsic |
|
Number
of |
Average |
Remaining
Contractual |
Intrinsic |
| |
Shares |
Exercise
Price |
Term
(Years) |
Value |
|
Shares |
Exercise
Price |
Term
(Years) |
Value |
| Outstanding
at October 1, 2013 |
5,188,141
|
$3.62 |
6.53 |
$133
|
|
2,422,997 |
$4.00
|
4.95 |
$133
|
| |
|
|
|
|
|
|
|
|
|
| Vested |
|
|
|
|
|
1,094,803
|
$2.14 |
|
|
| Granted
(a) |
1,723,240
|
$1.09 |
|
|
|
|
|
|
|
| Exercised |
|
|
|
|
|
|
|
|
|
| Forfeited |
6,316
|
$1.60 |
|
|
|
|
|
|
|
| Expired |
73,916
|
$4.29 |
|
|
|
73,916
|
$4.29 |
|
|
| Cancelled |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Outstanding
at September 30, 2014 |
6,831,149 |
$2.98 |
6.55 |
$3,600 |
|
3,443,884 |
$3.40 |
5.49 |
$3,600 |
| (a) | During the year ending September 30, 2014, 80,000 stock options were
granted to consultants. |
|
| Schedule of non-vested options |
A summary of the status of the Company’s
non-vested options for the year ended September 30, 2014 is presented below:
| | |
| | |
Weighted Average | |
| | |
Number of | | |
Grant Date | |
| | |
Shares | | |
Fair Value | |
| | |
| | |
| |
| Unvested at October 1, 2012 | |
| 1,649,063 | | |
$ | 3.60 | |
| Vested | |
| (729,087 | ) | |
| | |
| Granted | |
| 1,859,387 | | |
| | |
| Forfeited | |
| (14,219 | ) | |
| | |
| Unvested at October 1, 2013 | |
| 2,765,144 | | |
$ | 2.79 | |
| Vested | |
| (1,094,803 | ) | |
| | |
| Granted | |
| 1,723,240 | | |
| | |
| Forfeited | |
| (6,316 | ) | |
| | |
| Unvested at September 30, 2014 | |
| 3,387,265 | | |
$ | 2.15 | |
|