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STOCK OPTIONS (Tables)
12 Months Ended
Sep. 30, 2012
Stock Options [Abstract]  
Stock Options

 

  Shares Underlying
Options Outstanding
  Shares Underlying
Options Exercisable
 
Range of Exercise Prices Shares Underlying Options Outstanding  Weighted Average Remaining Contractual Life  Weighted Average Exercise Price  Shares Underlying Options Exercisable  Weighted Average Exercise Price 
$0.14 at September 30, 2012  2,700,000   3.48   0.14   1,800,000  $0.14 
   2,700,000   3.48  $0.14   1,800,000  $0.14 

 

Stock Option Activity

The following is a summary of stock option activity as at September 30, 2012:

 

  Number of Underlying Shares  Weighted Average Exercise Price  Weighted Average Fair Market Value 
Balance, September 30, 2011  3,351,000  $0.23  $0.15 
  Options expired October 25, 2011  (375,000)  0.71   0.27 
  Options expired September 20, 2012  (36,000)  0.14   0.36 
  Options expired September 20, 2012  (240,000)  0.47   0.24 
Balance, September 30, 2012  2,700,000  $0.14  $0.12 
Exercisable, September 30, 2012  1,800,000  $0.14  $0.12 
Non-vested Stock Options

The following table summarizes the activity of the Company’s non-vested stock options since September 30, 2011:

 

  Non-Vested Options 
  Number of Underlying Shares  Weighted Average Exercise Price 
       
Non-vested at September 30, 2011  1,800,000  $0.14 
Options vested at March 23, 2012  (900,000)  0.14 
         
Non-vested at September 30, 2012  900,000  $0.14