PREPAID EXPENSES

6 Months Ended

Mar. 31, 2017

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

PREPAID EXPENSES

10. PREPAID EXPENSES

Prepaid expenses consist of the following as of March 31, 2017 and September 30, 2016:

	March 31, 2017		September 30, 2016
Prepaid stock compensation	$	-	$	50,130
Prepaid rents		1,700		850
Prepaid dues and subscriptions		12,443		-
Prepaid insurance and bonds		30,798		6,742
Total prepaid expenses	$	44,941	$	57,722

On January 22, 2016, the Company appointed Mr. Greg Gohlinghorst as a member of the Company’s board of advisors. He was issued 35,000 shares of common stock for his appointment.  The shares were valued at $105,000 or $3.00 per share. The amount was capitalized as a prepaid expense and amortized over a twelve-month term; during the six months ended March 31, 2017, the Company recorded an expense of $32,705. 

On January 15, 2016, the Company entered into an Investor Relations Consulting Agreement with Hayden IR (“HIR”) to serve as our investor relations firm for a period of twelve months. Under the Agreement, HIR’s responsibilities include: implementing and maintaining an ongoing market support system to expand awareness of the Company in the investment community; arranging conference calls and interviews; providing feedback on expectations of results and company value; assisting with the presentation of periodic results of operations; monitoring newswires and industry publications; drafting and coordinating press releases, among other services.

As compensation for the services under the Agreement, the Company agreed to pay HIR a cash monthly fee of $3,500 for the first six months of the agreement. The monthly fee increased to $6,500 starting in the seventh month. The Company also agreed to issue to HIR 20,000 shares of restricted common stock within 30 days of execution. The shares were valued at $60,000 or $3.00 per share. The Stock compensation has been recorded as a prepaid expense and is being amortized evenly over the twelve-month service period. During the six months ending March 31, 2017, the Company recorded $17,425 in stock based compensation associated with this agreement.