Common Stock

12 Months Ended

Sep. 30, 2019

Equity [Abstract]

COMMON STOCK

11. COMMON STOCK

As of September 30, 2019, the Company had outstanding 230,574,603 shares of common stock.

Return of Capital Distribution

On August 9, 2013, the Company approved a distribution to its shareholders in the amount of $0.07 per share to be payable on September 20, 2013 to the holders of record of all the issued and outstanding shares of common stock of the Company as of the close of business on August 16, 2013. This cash distribution to the Company’s shareholders was not a dividend paid out of the earnings and profits, but was a non-dividend distribution characterized as a “return of capital”. On June 20, 2018, $245,184 was returned to the Company.

Warrants

There were no warrants outstanding as of September 30, 2019 (September 30, 2018 – Nil).