FAIR VALUE (Tables)

3 Months Ended

Dec. 31, 2014

Schedule of fair value measurements of common stock warrants using significant unobservable inputs (Level 3)

Fair Value Measurements of Common Stock Warrants Using Significant Unobservable Inputs (Level 3)	Three Month Periods Ended December 31,
	2014			2013
Balance at October 1, 2014 and 2013	$	1,096,412		$	2,643,449
Issuance of Series A and B Warrants		—			—
Adjustment resulting from change in fair value (a)		2,994,540			2,634,758
Removal of warrant upon repurchase		(4,090,952	)
Reclassification to equity upon exercise		—			(2,455,042	)
Balance at December 31,	$	—		$	2,823,165

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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