Annual report pursuant to Section 13 and 15(d)

SUMMARY OF SIGNIFICANT POLICIES (Tables)

SUMMARY OF SIGNIFICANT POLICIES (Tables)

12 Months Ended

Sep. 30, 2015

Property, Plant And Equipment Estimated Useful Lives [Table Text Block]

Property and equipment are stated at the lower of cost or fair value. Depreciation is provided on a straight-line basis over the estimated useful lives of the assets, as follows:

		Estimated Life
Machinery and equipment		6-8 years
Vehicles and trailers		7-10 years
Computer equipment and software		2-5 years

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

The following table sets forth the computation of basic and diluted earnings (loss) per common share from continuing operations:

	For the Years Ended
	September 30,
	2015		2014
Numerator:
Net (loss) income	$	(3,554,914)	$	515,518
Preferred stock dividends		(79,561)		(79,561)
Net (loss) income attributable to common shareholders	$	(3,634,475)	$	435,957
Denominator:
Weighted average number of common shares outstanding - basic		42,544,443		39,987,080

Effect of dilutive securities:
Convertible preferred stock, Series A		-		667,169
Convertible preferred stock, Series A-1		-		393,645
Convertible debt		-		200,000
Total dilutive shares		-		1,260,814
Weighted average number of common shares outstanding - diluted		42,544,443		41,247,894
(Loss) Earnings per share:
Basic	$	(0.09)	$	0.01
Diluted	$	(0.09)	$	0.01

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

The following securities are excluded from the calculation of weighted average dilutive common shares because their inclusion would have been anti-dilutive:

	September 30,
	2015		2014
Convertible preferred stock, Series A		667,169		-
Convertible preferred stock, Series A-1		393,645		-
Convertible preferred stock, Series D ^[1]		732,303,600		677,592,400
Rights to purchase Series D^[2]		-		34,080,000
Common stock warrants		744,999		2,918,254
Preferred stock warrants		39,396,800
Convertible debt		200,000		-
Total potentially dilutive shares		773,706,213		714,590,654

^[1] The Series D preferred shares are mandatorily convertible at a rate of 400 shares of common stock for each share of preferred stock upon (a) a sufficient increase in the authorized common shares; and (b) a reverse split of the common shares.

^[2] Represents rights for the purchase of shares of the Company’s Series D convertible preferred stock, held by 5G pursuant to the Purchase Agreement. See Note 1 – Description of Business and History - Assignment & Purchase Agreement.