Common Stock

3 Months Ended

Dec. 31, 2015

Common Stock [Abstract]

COMMON STOCK

8. COMMON STOCK

Common Stock Issued and Outstanding

As of December 31, 2015, the Company had outstanding 229,374,605 shares of common stock.

Warrants

The following table summarizes the Company’s warrants outstanding as of December 31, 2015:

	Shares Underlying  Warrants Outstanding						Shares Underlying  Warrants Exercisable
Range of Exercise Price	Shares Underlying Warrants Outstanding		Weighted Average Remaining Contractual Life		Weighted Average Exercise Price		Shares Underlying Warrants Exercisable		Weighted Average Exercise Price
$0.105 at December 31, 2015		52,155,221		0.90	$	0.105		52,155,221	$	0.105
$0.075 at December 31, 2015		520,000		0.47		0.075		520,000		0.075
		52,675,221		0.89	$	0.105		52,675,221	$	0.105

The following is a summary of warrant activity for the period ended December 31, 2015:

	Number of Warrants		Weighted Average Exercise Price		Intrinsic Value
Balance, September 30, 2015		52,675,221	$	0.105	$	–
Cancelled		–		–		–
Granted		–		–		–
Exercised		–		–		–
Balance, December 31, 2015		52,675,221	$	0.105	$	–
Outstanding Warrants, December 31, 2015		52,675,221	$	0.105	$	–

There were 52,675,221 warrants outstanding as of December 31, 2015 (September 30, 2015 – 52,675,221), which have a historical fair market value of $3,153,216 (September 30, 2015 - $3,153,216).