STOCKHOLDERS' EQUITY (Details Textual) - USD ($)
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1 Months Ended |
6 Months Ended |
9 Months Ended |
Jul. 08, 2015 |
Oct. 30, 2015 |
Sep. 17, 2015 |
May. 27, 2015 |
Jun. 30, 2015 |
Sep. 30, 2015 |
Sep. 30, 2014 |
| Stockholders Equity Note [Line Items] |
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| Stock Issued During Period, Value, New Issues |
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$ 568,468
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| Conversion of Stock, Amount Issued |
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$ 555,910
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| Conversion of Stock, Shares Issued |
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138,979
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| Units Issued During period Shares |
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72,750
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| Units Issued During Period Per Share |
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$ 4.00
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| Maximum Offering Units Issued Private Placement |
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$ 3,000,000
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| Units Issued During Period In Offering |
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65,500
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| Gross Proceeds From Offering Units |
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$ 553,000
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| Net Proceeds From Offering Units |
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366,116
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| Payment of Financing and Stock Issuance Costs, Total |
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$ 186,884
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| Description of Warrants |
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Each warrant entitles the holder to purchase one share of the Company’s common stock at an exercise price of $6.00 per share, commencing immediately and expiring on September 17, 2018. The exercise price and number of shares of common stock issuable on exercise of the warrants are subject to standard anti-dilution provisions. The Company, at its option, may call the warrants for redemption, in whole and not in part, at a price of $0.01 per warrant, if (i) the closing price per share of the common stock is at least $10.00 for 30 consecutive trading days ending on the third business day prior to the notice of redemption or (ii) the common stock is listed for trading on a national securities exchange and the closing price per share of common stock on the first day of trading on such exchange is at least $7.50.
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| Description of Units Sold To Investors |
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The Placement Agent is entitled to a commission equal to (a) 10% of the aggregate purchase price from the units sold to investors introduced to the Company by the Placement Agent, and (b) 5% of the aggregate purchase price from the units sold to investors that were not introduced to the Company by the Placement Agent. In addition, the Company will pay the Placement Agent a non-accountable expense allowance equal to 3% of the aggregate purchase price from the units sold to investors introduced to the Company by the Placement Agent. At the final closing, the Placement Agent also will receive warrants to purchase a number of shares of the Company’s common stock equal to 10% of the total shares included in the units sold in the Placement, with an exercise price of $4.50 per share. Furthermore, if the Company sells the full $3,000,000 of units in the Placement, for the 12 month period commencing on the final closing of the Placement, the Placement Agent will have a right of first refusal to act as passive bookrunner with respect to any proposed underwritten public distribution or private placement of the Company’s securities.
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| Commitment Fee |
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$ 15,000
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| Fees and Commissions |
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$ 70,090
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| Share Price |
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$ 8.70
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| Proceeds from Issuance of Common Stock |
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$ 568,468
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$ 0
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| Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term |
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3 years 3 months
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| Common Stock [Member] |
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| Stockholders Equity Note [Line Items] |
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| Stock Issued During Period, Shares, New Issues |
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142,636
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| Stock Issued During Period, Value, New Issues |
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$ 14
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| Subsequent Event [Member] |
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| Stockholders Equity Note [Line Items] |
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| Maximum Offering Units Issued Private Placement |
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$ 3,000,000
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| Subsequent Event [Member] | Common Stock [Member] |
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| Stockholders Equity Note [Line Items] |
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| Stock Issued During Period, Shares, New Issues |
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17,500
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| Proceeds from Issuance of Common Stock |
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$ 70,000
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| Private Placement [Member] |
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| Stockholders Equity Note [Line Items] |
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| Percentage of Securities Issued on Warrants |
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10.00%
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| Warrants and Rights Outstanding |
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$ 97,969
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| Share Price |
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$ 9.75
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| Fair Value Assumptions, Expected Dividend Rate |
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0.00%
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| Fair Value Assumptions, Expected Volatility Rate |
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68.00%
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| Fair Value Assumptions, Risk Free Interest Rate |
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1.37%
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| Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term |
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5 years
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| Warrants To Be Issued |
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13,825
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| Private Placement [Member] | Common Stock [Member] |
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| Stockholders Equity Note [Line Items] |
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| Stock Issued During Period, Shares, New Issues |
25,000
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| Proceeds from Issuance of Common Stock |
$ 100,000
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| Ivory Castle Limited [Member] |
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| Stockholders Equity Note [Line Items] |
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| Units Issued During period Shares |
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22,500
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| Bass Properties LLC [Member] |
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| Stockholders Equity Note [Line Items] |
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| Stock Issued During Period, Shares, New Issues |
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92,636
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| Stock Issued During Period, Value, New Issues |
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$ 370,544
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| Units Issued During period Shares |
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15,000
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| Accounts Payable [Member] |
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| Stockholders Equity Note [Line Items] |
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| Stock Issued During Period, Shares, New Issues |
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19,047
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9,038
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| Stock Issued During Period, Value, New Issues |
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$ 98,120
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$ 36,150
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| Former Members of LIBB [Member] |
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| Stockholders Equity Note [Line Items] |
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| Stock Issued During Period, Shares, Acquisitions |
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2,633,334
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| Former Members of Cullen [Member] |
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| Stockholders Equity Note [Line Items] |
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| Stock Issued During Period, Shares, Acquisitions |
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1,518,749
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| Family Member Of Director One [Member] |
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| Stockholders Equity Note [Line Items] |
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| Stock Issued During Period, Shares, New Issues |
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12,500
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| Stock Issued During Period, Value, New Issues |
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$ 50,000
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| Family Member Of Director Two [Member] |
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| Stockholders Equity Note [Line Items] |
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| Stock Issued During Period, Shares, New Issues |
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12,500
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| Stock Issued During Period, Value, New Issues |
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$ 50,000
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| Board of Directors [Member] |
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| Stockholders Equity Note [Line Items] |
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| Units Issued During period Shares |
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6,250
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| Chief Executive Officer [Member] |
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| Stockholders Equity Note [Line Items] |
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| Units Issued During period Shares |
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6,250
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