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SUBSEQUENT EVENTS
12 Months Ended
Sep. 30, 2016
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

16.    SUBSEQUENT EVENTS

 

On October 31, 2016, we filed Articles of Merger with the Secretary of State of Nevada in order to effectuate a merger with our wholly-owned subsidiary, CleanSpark, Inc. Shareholder approval was not required under Section 92A.180 of the Nevada Revised Statutes. As part of the merger, our board of directors authorized a change in our name to “CleanSpark, Inc.” and our Articles of Incorporation have been amended to reflect this name change. In connection with the name change, our common stock now trades under the symbol “CLSK” that more resembles our new name.

 

In November of 2016, the Company issued 2,932,704 shares of common stock for the cashless exercise of options.

 

During the period commencing October 1, 2016 through December 29, 2016, the Company received $68,000 from 5 investors pursuant to private placement agreements with the investors to purchase 95,000 shares of CleanSpark Inc. $0.001 par value common stock at a purchase price equal to $0.80 for each share of Common stock.