Income tax (TABLES)
 12 Months Ended
Sep. 30, 2016
Income tax  
Schedule of Components of Income Tax Expense (Benefit)

The following table accounts for the differences between the actual income tax benefit and amounts computed for the fiscal years ended September 30, 2016 or 2015:

 

 

 

Years Ended September 30,

 

 

2016

 

2015

 

 

 

 

 

Tax benefit at the federal statutory rate

 

$

984,773

 

 

$

632,495

 

State tax benefit

 

 

196,110

 

 

 

125,957

 

Cumulative effect of Federal tax rate change

 

 

—

 

 

 

—

 

Expiration of state operating losses

 

 

(138,659

)

 

 

(82,972

) 

Increase in valuation allowance

 

 

(1,042,224

)

 

 

(675,480

)

Income tax expense

 

$

—

 

 

$

—

 
Schedule of Deferred Tax Assets and Liabilities

The components of the deferred tax asset and deferred tax liability at September 30, 2016 or 2015 are as follows:

 

 

 

September 30,

 

 

2016

 

2015

 

 

 

 

 

Deferred tax assets

 

$

9,693,456

 

 

$

8,651,232

 

Valuation allowance

 

 

(9,693,456

)

 

 

(8,651,232

)

Net deferred tax asset after valuation allowance

 

$

—

 

 

$

—