XML 27 R15.htm IDEA: XBRL DOCUMENT v3.3.1.900
STOCK WARRANTS
 12 Months Ended
Sep. 30, 2015
Accounting Policies [Abstract]  
STOCK WARRANTS

The following is a summary of warrants activity during the years ended September 30, 2015 and 2014.

 

    Number of Shares     Weighted Average Exercise Price
Balance, September 30, 2013                     -       $                -   
Warrants granted and assumed           20,000    $            0.36
Warrants expired                     -                       -   
Warrants canceled                     -                       -   
Warrants exercised                     -                       -   
Balance, September 30, 2014             20,000    $            0.36
Warrants granted and assumed          7,857,600    $            0.10
Warrants expired                     -                       -   
Warrants canceled                     -                       -   
Warrants exercised                     -                       -   
Balance, September 30, 2015             7,877,600    $            0.10

 

As of September 30, 2015, 7,877,600 warrants are exercisable.

 

During the year ended September 30, 2014, the Company received $200,000 pursuant to private placement agreements with 10 investors to purchase 600,000 shares of Stratean Inc. $0.001 par value common stock and 60,000 warrants at a purchase price equal to $0.33 per share of common stock and warrants. The warrants allow the holders to purchase shares of the Company's $0.001 par value common stock at 10% over the per share price purchase of the common stock or $0.36 and have no expiration date.

 

During the period commencing November 12, 2014 through September 30, 2015 the Company received $242,000 from 14 investors pursuant to private placement agreements with the investors to purchase 726,000 shares of Stratean $0.001 par value common stock and warrants to purchase 72,600 shares of Stratean $0.001 par value common stock at a purchase price equal to $0.33 for each share of Common stock and 10% warrant coverage. The warrant allows the holder to purchase shares of the Company's $0.001 par value common stock at $0.363 per share.

 

On March 12, 2015, the Company issued 7,500,000 warrants to officers and members of the board of directors as compensation for services performed. (See Note 7. For additional details)

 

On March 18, 2015 the Company granted 285,000 non-statutory stock options to a consultant. The options were issued under the following terms; non-transferable, fully vest on March 31, 2015, expire ten years from the date of grant, strike price of $0.363 and become immediately exercisable upon the occurrence of a significant liquidating, restructuring or change of control event. The Company recorded an expense of $87,581 for the year ended September 30, 2015.