Transition report pursuant to Rule 13a-10 or 15d-10

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details)

v3.3.1.900
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($)
Dec. 31, 2015
Sep. 30, 2015
Accounts Payable [Line Items]    
Accrued interest payable [1] $ 817,452 $ 2,030,745
Accrued dividends payable 451,133 431,243
Accrued compensation expense [2] 2,015,277 1,731,385
Other accrued expense 295,083 458,173
Total 3,578,945 4,651,546
Less: non-current portion 0 (1,686,256)
Accrued expenses, current $ 3,578,945 $ 2,965,290
[1] Accrued interest payable includes approximately $300,000 of estimated penalties and interest associated with the unpaid payroll taxes as of December 31, 2015, and September 30, 2015 respectively.
[2] Accrued compensation expense includes $1,863,031 and $1,512,415 of unpaid payroll taxes related for the period ended December 31, 2015 and September 30, 2015, respectively.