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<div>     NOTE 1. ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES Nature of Business Arrowhead Research develops novel drugs to treat intractable diseases by silencing the genes that cause them. Using the broadest portfolio of RNA chemistries and efficient modes of delivery, Arrowhead therapies trigger the RNA interference mechanism to induce rapid, deep and durable knockdown of target genes. Arrowhead’s most advanced drug candidate in clinical development is ARC-520, which is designed to treat chronic hepatitis B infection by inhibiting the production of all HBV gene products.  The goal is to reverse the immune suppression that prevents the body from controlling the virus and clearing the disease. Arrowhead’s second clinical candidate is ARC-AAT, a treatment for a rare liver disease associated with a genetic disorder that causes alpha-1 antitrypsin deficiency. Liquidity Historically, the Company’s primary source of financing has been through the sale of securities of Arrowhead Research Corp. Research and development activities have required significant capital investment since the Company’s inception and we expect our operations to continue to require cash investment in fiscal 2015 and beyond as the Company continues its research and development efforts, as well as clinical trials, and related drug manufacturing.   At September 30, 2014, the Company had $132.5 million in cash to fund operations. In addition to its cash resources, the Company has invested excess cash in investment grade commercial bonds maturing in less than 2 years.  These bonds provide a source of liquidity, although the Company plans to hold them until maturity.  At September 30, 2014, the Company had invested $44.7 million in these bonds.  During the year ended September 30, 2014, the Company’s cash position increased by $113.4 million which was the result of the receipt of cash from the issuance of equity of $172.6 million and cash from the exercise of warrants and options of $12.9 million, partially offset by cash outflows of $35.4 million related to continuing operating activities, net cash invested in fixed income investments of $34.8 million, and capital expenditures of $1.7 million.          Summary of Significant Accounting Policies Principles of Consolidation— The consolidated financial statements include the accounts of Arrowhead and its Subsidiaries.  Arrowhead’s primary operating subsidiary is Arrowhead Madison, which is located in Madison, Wisconsin, where the Company’s research and development facilities are located. All significant intercompany accounts and transactions are eliminated in consolidation, and noncontrolling interests are accounted for in the Company’s financial statements. Basis of Presentation and Use of Estimates—The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could materially differ from those estimates. Additionally, certain reclassifications have been made to prior period financial statements to conform to the current period presentation. Cash and Cash Equivalents—The Company considers all liquid debt instruments purchased with a maturity of three months or less to be cash equivalents. The Company had no restricted cash at September 30, 2014 and 2013, respectively. Concentration of Credit Risk—The Company maintains bank accounts for its operations at two financial institutions. These accounts are insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000 per account. Management believes the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which these deposits are held. Investments—the Company may invest excess cash balances in short-term and long-term marketable debt securities. Investments may consist of certificates of deposits, money market accounts, government-sponsored enterprise securities, corporate bonds and/or commercial paper. The Company accounts for its investment in marketable securities in accordance with FASB ASC 320, Investments – Debt and Equity Securities. This statement requires certain securities to be classified into three categories: Held-to-maturity—Debt securities that the entity has the positive intent and ability to hold to maturity are reported at amortized cost. Trading Securities—Debt and equity securities that are bought and held primarily for the purpose of selling in the near term are reported at fair value, with unrealized gains and losses included in earnings. Available-for-Sale—Debt and equity securities not classified as either securities held-to-maturity or trading securities are reported at fair value with unrealized gains or losses excluded from earnings and reported as a separate component of shareholders’ equity. The Company classifies its investments in marketable debt securities based on the facts and circumstances present at the time of purchase of the securities. At September 30, 2014, the Company classified all of its investments as held-to-maturity. Held-to-maturity investments are measured and recorded at amortized cost on the Company’s Consolidated Balance Sheet. Discounts and premiums to par value of the debt securities are amortized to interest income/expense over the term of the security. No gains or losses on investment securities are realized until they are sold or a decline in fair value is determined to be other-than-temporary.                      Property and Equipment—Property and equipment are recorded at cost, which may equal fair market value in the case of property and equipment acquired in conjunction with a business acquisition. Depreciation of property and equipment is recorded using the straight-line method over the respective useful lives of the assets ranging from three to seven years. Leasehold improvements are amortized over the lesser of the expected useful life or the remaining lease term. Long-lived assets, including property and equipment, are reviewed for impairment whenever events or circumstances indicate that the carrying amount of these assets may not be recoverable. Intangible Assets Subject to Amortization—At September 30, 2014, intangible assets subject to amortization include certain license agreements. Intangible assets subject to amortization are reviewed for impairment whenever events or circumstances indicate that the carrying amount of these assets may not be recoverable. In-Process Research & Development (IPR&D)—IPR&D assets represent capitalized on-going research projects that Arrowhead acquired through business combinations. Such assets are initially measured at their acquisition date fair values. The amounts capitalized are being accounted for as indefinite-lived intangible assets, subject to impairment testing until completion or abandonment of R&D efforts associated with the project. Upon successful completion of a project, Arrowhead will make a determination as to the then remaining useful life of the intangible asset and begin amortization. Based on ASC 350 – Intangibles, Goodwill and Other, Arrowhead tests its indefinite-lived assets for impairment at least annually, through a two-step process. The first step is a qualitative assessment to determine if it is more likely than not that the indefinite lived assets are impaired. Arrowhead considers relevant events and circumstances that could affect the inputs used to determine the fair value of the intangible assets. If the qualitative assessment indicates that it is more likely than not that the intangible assets is impaired, a second step is performed which is a quantitative test to determine the fair value of the intangible asset. If the carrying amount of the intangible assets exceeds its fair value, an impairment loss is recorded in the amount of that excess. If circumstances determine that it is appropriate, the Company may also elect to bypass step one, and proceed directly to the second step. Contingent Consideration - The consideration for our acquisitions often includes future payments that are contingent upon the occurrence of a particular event.  For example, milestone payments might be based on the achievement of various regulatory approvals or future sales milestones, and royalty payments might be based on drug product sales levels. We record a contingent consideration obligation for such contingent payments at fair value on the acquisition date. We estimate the fair value of contingent consideration obligations through valuation models designed to estimate the probability of the occurrence of such contingent payments based on various assumptions and incorporating estimated success rates.  Estimated payments are discounted using present value techniques to arrive at estimated fair value at the balance sheet date.  We revalue these contingent consideration obligations each reporting period. Changes in the fair value of our contingent consideration obligations are recognized within our Consolidated Statement of Operations. Changes in the fair value of the contingent consideration obligations can result from changes to one or multiple inputs, including adjustments to the discount rates, changes in the amount or timing of expected expenditures associated with product development, changes in the amount or timing of cash flows from products upon commercialization, changes in the assumed achievement or timing of any development milestones, changes in the probability of certain clinical events and changes in the assumed probability associated with regulatory approval. These fair value measurements are based on significant inputs not observable in the market. Significant judgment is employed in determining the appropriateness of these assumptions as of the acquisition date and for each subsequent period. Accordingly, changes in assumptions could have a material impact on the amount of contingent consideration expense we record in any given period. Noncontrolling Interests in Majority-Owned Subsidiaries—Operating losses applicable to majority-owned Ablaris, Calando (prior to its deconsolidation), and Unidym (prior to its disposal) have periodically exceeded the noncontrolling interests in the equity capital of either Subsidiary. Such excess losses applicable to the noncontrolling interests have been and are borne by the Company as there is no obligation of the noncontrolling interests to fund any losses in excess of their original investment. There is also no obligation or commitment on the part of the Company to fund operating losses of any Subsidiary whether wholly-owned or majority-owned. The Company allocates the noncontrolling interest’s share of net loss in excess of the noncontrolling interest’s initial investment in accordance with FASB ASC 810-10. When there is a change in the Company’s proportionate share of a Subsidiary resulting from additional equity transactions in a Subsidiary, the change is accounted for as an equity transaction in consolidation. To the extent that the increase in the calculated value of the Company’s interest in the equity of the Subsidiary exceeds the Company’s investment in the offering, that increase in value is referred to as the Company’s “increase in its proportionate share of the Subsidiary’s equity” and the amount is recorded as an increase in the Company’s Additional Paid-in Capital. Revenue Recognition—Revenue from license fees are recorded when persuasive evidence of an arrangement exists, title has passed or services have been rendered, a price is fixed and determinable, and collection is reasonably assured. We may generate revenue from product sales, technology licenses, collaborative research and development arrangements, and research grants. Revenue under technology licenses and collaborative agreements typically consists of nonrefundable and/or guaranteed technology license fees, collaborative research funding and various milestone and future product royalty or profit-sharing payments. Revenue associated with research and development funding payments under collaborative agreements is recognized ratably over the relevant periods specified in the agreement, generally the research and development period. Revenue from up-front license fees, milestones and product royalties are recognized as earned based on the completion of the milestones and product sales, as defined in the respective agreements. Payments received in advance of recognition as revenue are recorded as deferred revenue. Allowance for Doubtful Accounts—The Company accrues an allowance for doubtful accounts based on estimates of uncollectible revenues by analyzing historical collections, accounts receivable aging and other factors. Accounts receivable are written off when all collection attempts have failed. Research and Development—Costs and expenses that can be clearly identified as research and development are charged to expense as incurred in accordance with FASB ASC 730-10. Included in research and development costs are operating costs, facilities, supplies, external services, clinical trial and manufacturing costs, and overhead directly related to the Company’s research and development operations, as well as costs to acquire technology licenses. Earnings (Loss) per Share—Basic earnings (loss) per share is computed using the weighted-average number of common shares outstanding during the period. Diluted earnings (loss) per share are computed using the weighted-average number of common shares and dilutive potential common shares outstanding during the period. Dilutive potential common shares primarily consist of stock options and restricted stock units issued to employees and warrants to purchase Common Stock of the Company.  All outstanding stock options, restricted stock units and warrants for the years ended September 30, 2014, 2013 and 2012 have been excluded from the calculation of Diluted earnings (loss) per share due to their anti-dilutive effect.    Stock-Based Compensation—The Company accounts for share-based compensation arrangements in accordance with FASB ASC 718, which requires the measurement and recognition of compensation expense for all share-based payment awards to be based on estimated fair values. We use the Black-Scholes option valuation model to estimate the fair value of our stock options at the date of grant. The Black-Scholes option valuation model requires the input of subjective assumptions to calculate the value of stock options. We use historical data among other information to estimate the expected price volatility and the expected forfeiture rate. The fair value of restricted stock units granted is based upon the quoted closing market price per share on the date of grant, adjusted for assumed forfeitures. Expense for stock options and restricted stock units is recognized over the requisite service period. Derivative Assets and Liabilities - We account for warrants and other derivative financial instruments as either equity or assets/liabilities based upon the characteristics and provisions of each instrument. Warrants classified as equity are recorded as additional paid-in capital on our Consolidated Balance Sheet and no further adjustments to their valuation are made. Some of our warrants were determined to be ineligible for equity classification because of provisions that may result in an adjustment to their exercise price. Warrants classified as derivative liabilities and other derivative financial instruments that require separate accounting as assets or liabilities are recorded on our Consolidated Balance Sheet at their fair value on the date of issuance and are revalued on each subsequent balance sheet date until such instruments are exercised or expire, with any changes in the fair value between reporting periods recorded as other income or expense. We estimate the fair value of these assets/liabilities using option pricing models that are based on the individual characteristics of the warrants or instruments on the valuation date, as well as assumptions for expected volatility, expected life and risk-free interest rate. Income Taxes—The Company accounts for income taxes under the liability method, which requires the recognition of deferred income tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred income taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each period end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred income tax assets to the amount expected to be realized. The provision for income taxes, if any, represents the tax payable for the period and the change in deferred income tax assets and liabilities during the period. Recently Issued Accounting Standards In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements – Going Concern (Topic 915): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern, which states that in connection with preparing financial statements for each annual and interim reporting period, an entity’s management should evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or within one year after the date that the financial statements are available to be issued when applicable). The adoption of this update did not have a material effect on our financial statements. In June 2014, the FASB issued ASU 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance, which eliminates the distinction and separate requirements for development stage entities and other reporting entities under U.S. GAAP.  Specifically the amendment eliminates the requirement for development stage entities to 1) present inception-to-date information in the statements of income, cash flow and shareholders’ equity, 2) label the financial statements as those of a development stage entity, 3) disclose a description of the development stage activities in which the entity is engaged and 4) disclose the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage.  ASU 2014-10 is effective for fiscal years beginning after December 15, 2014 with early adoption permitted.  The Company has adopted ASU 2014-10 effectively beginning with the filing of our Form 10-Q for period ended June 30, 2014.   In May 2014, the FASB issued ASU No. 2014-09 Revenue from Contracts with Customers (Topic 606), which will supersede nearly all existing revenue recognition guidance under GAAP. ASU No. 2014-09 provides that an entity recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This update also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments, and assets recognized from costs incurred to obtain or fulfill a contract. ASU No. 2014-09 allows for either full retrospective or modified retrospective adoption and will become effective for the Company in the first quarter of 2018. The Company is evaluating the potential effects of the adoption of this update on its financial statements. In July 2013, the FASB issued ASU 2013-11, Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists, which eliminates diversity in practice for the presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss or a tax credit carryforward is available to reduce the taxable income or tax payable that would result from disallowance of a tax position. ASU 2013-11 affects only the presentation of such amounts in an entity’s balance sheet and is effective for fiscal years beginning after December 15, 2013 and interim periods within those years. Early adoption is permitted. The adoption of this update did not have a material effect on our financial statements. In July 2012, the FASB issued ASU 2012-02, Testing Indefinite-Lived Intangible Assets for Impairment, which amended the guidance in ASU 2011-08 to simplify the testing of indefinite-lived intangible assets other than goodwill for impairment. ASU 2012-02 becomes effective for annual and interim impairment tests performed for fiscal years beginning on or after September 15, 2012 and earlier adoption is permitted. We adopted this standard in the third quarter of fiscal year 2012. The adoption of this update did not have a material effect on our financial statements.  </div>

<div> NOTE 9. STOCK-BASED COMPENSATION Arrowhead has three plans that provide for equity-based compensation, collectively the “Plans”. Under the 2000 Stock Option Plan, 38,000 shares of Arrowhead’s Common Stock are reserved for issuance upon exercise of non-qualified stock options. No further grants can be made under the 2000 Stock Option Plan. The 2004 Equity Incentive Plan reserves 2,659,852 shares for the grant of stock options, stock appreciation rights, restricted stock awards and performance unit/share awards by the Board of Directors to employees, consultants and others. The 2013 Incentive Plan reserves 4,000,000 shares for the grant of stock options, stock appreciation rights, restricted stock awards and performance unit/share awards by the Board of Directors to employees, consultants and others. As of September 30, 2014, there were options and restricted stock units outstanding of 38,000, 2,563,518, and 1,292,000 shares of Common Stock under the 2000, 2004 and 2013 Plans, respectively. Also, as of September 30, 2014, there were 467,322 shares reserved for options and restricted stock units issued outside of equity compensation plans, as inducement grants to new employees. During the year ended September 30, 2014, no options or restricted stock units were granted under the 2004 Equity Incentive Plan, 1,324,000 options and restricted stock units were granted under the 2013 Incentive Plan, and 185,000 options and 40,000 restricted stock units were granted outside of the Plans as inducement stock options and restricted stock units to new employees. The following tables summarize information about stock options:   <div> <table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:92%;"> <tr> <td valign="bottom" style="width:41%;">  </td> <td colspan="2" valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:1%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Number of Options Outstanding</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">  </td> <td colspan="2" valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:1%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Weighted- Average Exercise Price Per Share</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">   </td> <td colspan="2" valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:1%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Weighted- Average Remaining Contractual Term</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">   </td> <td colspan="2" valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:1%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Aggregate Intrinsic Value</td> <td valign="bottom" style="width:1%;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:41%;"> Balance At September 30, 2012</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,910,794</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">6.10</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> </tr> <tr> <td valign="bottom" style="width:41%;"> Granted</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,509,166</td> <td valign="bottom" style="width:1%;white-space:nowrap;">   </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.03</td> <td valign="bottom" style="width:1%;white-space:nowrap;">   </td> <td valign="bottom" style="width:1%;">   </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;">  </td> <td valign="bottom" style="width:1%;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:41%;"> Cancelled</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> </tr> <tr> <td valign="bottom" style="width:41%; border-bottom:solid 0.75pt transparent;"> Exercised</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(675 </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">) </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.93</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">   </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">   </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="middle" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="middle" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:41%;"> Balance At September 30, 2013</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3,419,285</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.68</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> </tr> <tr> <td valign="bottom" style="width:41%;"> Granted</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,039,000</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">14.05</td> <td valign="bottom" style="width:1%;white-space:nowrap;">   </td> <td valign="bottom" style="width:1%;">   </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;">  </td> <td valign="bottom" style="width:1%;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:41%;"> Cancelled</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(152,582)</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">6.05</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> </tr> <tr> <td valign="bottom" style="width:41%; border-bottom:solid 0.75pt transparent;"> Exercised</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(454,863)</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">6.00</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">   </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">   </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="middle" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="middle" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:41%; border-bottom:double 2.5pt transparent;"> Balance At September 30, 2014</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3,850,840</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">6.99</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt #000000;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">8.1 years</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt #000000;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$31,141,826</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:41%; border-bottom:double 2.5pt transparent;"> Exercisable At September 30, 2014</td> <td valign="bottom" style="width:1%; border-top:double 2.5pt #000000; border-bottom:double 2.5pt #000000;">  </td> <td valign="bottom" style="width:10%; border-top:double 2.5pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,684,919</td> <td valign="bottom" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%; border-bottom:double 2.5pt transparent;">  </td> <td valign="bottom" style="width:1%; border-top:double 2.5pt #000000; border-bottom:double 2.5pt #000000;">  </td> <td valign="bottom" style="width:10%; border-top:double 2.5pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5.94</td> <td valign="bottom" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;">   </td> <td valign="bottom" style="width:1%; border-bottom:double 2.5pt transparent;">   </td> <td valign="bottom" style="width:1%; border-top:double 2.5pt #000000; border-bottom:double 2.5pt #000000;">  </td> <td valign="bottom" style="width:10%; border-top:double 2.5pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">7.2 years</td> <td valign="bottom" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%; border-bottom:double 2.5pt transparent;">  </td> <td valign="bottom" style="width:1%; border-top:double 2.5pt #000000; border-bottom:double 2.5pt #000000;">  </td> <td valign="bottom" style="width:10%; border-top:double 2.5pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$15,518,772</td> <td valign="bottom" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;">  </td> </tr> </table></div>    Stock-based compensation expense related to stock options for the years ended September 30, 2014, 2013 and 2012 was $3,144,776, $1,536,271, and $1,241,404, respectively. There is no income tax benefit as the Company is currently operating at a loss and an actual income tax benefit may not be realized. For non-qualified stock options, the loss creates a timing difference, resulting in a deferred tax asset, which is fully reserved by a valuation allowance. The fair value of the options granted by Arrowhead for the years ended September 30, 2014, 2013 and 2012 is estimated at $9,267,048, $2,843,575 and $4,091,117, respectively. The intrinsic value of the options exercised during the years ended September 30, 2014, 2013 and 2012 was $4,360,850, $554, and $0, respectively. As of September 30, 2014, the pre-tax compensation expense for all unvested stock options at Arrowhead in the amount of approximately $10,517,380 will be recognized in the Company’s results of operations over a weighted average period of 3.1 years. The fair value of each stock option award is estimated on the date of grant using the Black-Scholes option pricing model. The Black-Scholes option valuation model was developed for use in estimating the fair value of traded options, which do not have vesting restrictions and are fully transferable. The determination of the fair value of each stock option is affected by our stock price on the date of grant, as well as assumptions regarding a number of highly complex and subjective variables. Because the Company’s employee stock options have characteristics significantly different from those of traded options, and because changes in the subjective input assumptions can materially affect the fair value estimate, in management’s opinion, the existing models do not necessarily provide a reliable single measure of the fair value of its employee stock options. The assumptions used to value stock options are as follows:   <div> <table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:60%;"> <tr> <td valign="bottom" style="width:27%;">  </td> <td valign="top" style="width:1%;">  </td> <td colspan="5" valign="top" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Year ended September 30,</td> </tr> <tr> <td valign="bottom" style="width:27%;">  </td> <td valign="top" style="width:1%;">  </td> <td valign="top" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2014</td> <td valign="top" style="width:1%; border-top:solid 0.75pt #000000;">  </td> <td valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:10%; border-top:solid 0.75pt #000000; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2013 </td> <td valign="bottom" style="width:1%; border-top:solid 0.75pt #000000;">   </td> <td valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:10%; border-top:solid 0.75pt #000000; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2012 </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:27%;"> Dividend yield</td> <td valign="top" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-top:solid 0.75pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="top" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> </tr> <tr> <td valign="bottom" style="width:27%;"> Risk-free interest rate</td> <td valign="top" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.8% to 2.4%</td> <td valign="top" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.7% to  2.3%</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.9%  to 1.7%</td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:27%;"> Volatility</td> <td valign="top" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">69%</td> <td valign="top" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">69%</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">90% - 100%</td> </tr> <tr> <td valign="bottom" style="width:27%;"> Expected life (in years)</td> <td valign="top" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">6.25 to 9.47</td> <td valign="top" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5.5 to 6.25</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5.5 to 6.25</td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:27%;"> Weighted average grant date fair value per share of options granted</td> <td valign="top" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$8.92</td> <td valign="top" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$1.88</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$3.32</td> </tr> </table></div>    The dividend yield is zero as the Company currently does not pay a dividend. The risk-free interest rate is based on the U.S. Treasury bond. Volatility is estimated based on volatility average of the Company’s Common Stock price. Restricted Stock Units Restricted Stock Units (RSUs) were granted under the Company’s 2013 Incentive Plan as well as inducement grants granted outside of the Plan.  During the years ended September 30, 2014, 2013 and 2012 the Company issued 510,000, 0 and 0 restricted stock units to certain members of management and certain members of its Board of Directors, respectively.  Of the restricted stock units granted, 470,000 were granted under the Company’s 2013 Incentive Plan and 40,000 were granted outside of the Plan as inducement grants to new employees. At vesting each RSU will be exchanged for one share of the Company’s Common Stock. The RSUs issued to management vest in equal annual installments over two to three years from the anniversaries of the date of grant.  The RSUs issued to the members of the Board of Directors vest upon the one year anniversary of the date of grant.   The following table summarizes the activity of the Company’s Restricted Stock Units:   <div> <table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:76%;"> <tr> <td valign="bottom" style="width:51%;">  </td> <td colspan="2" valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Number of RSUs</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td colspan="2" valign="bottom" style="width:1%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Weighted- Average Grant Date Fair Value</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:51%;"> Unvested at September 30, 2012</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-top:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">— </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 1pt #000000;"> $</td> <td valign="top" bgcolor="#CFF0FC" style="width:10%; border-top:solid 1pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:51%;"> Granted</td> <td valign="bottom" style="width:1%;">  </td> <td valign="top" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="top" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:51%;"> Vested</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="top" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="top" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:51%; border-bottom:solid 0.75pt transparent;"> Forfeited</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="top" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="top" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:51%; border-bottom:solid 0.75pt transparent;"> Unvested at September 30, 2013</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;">  </td> <td valign="top" bgcolor="#CFF0FC" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:51%;"> Granted</td> <td valign="bottom" style="width:1%; border-top:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:10%; border-top:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">510,000</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%; border-top:solid 0.75pt #000000;"> $ </td> <td valign="bottom" style="width:10%; border-top:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">14.58</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:51%;"> Vested</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="top" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="top" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:51%; border-bottom:solid 0.75pt transparent;"> Forfeited</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="top" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="top" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:51%; border-bottom:double 2.5pt transparent;"> Unvested at September 30, 2014</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">510,000</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt #000000;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">14.58</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;">  </td> </tr> </table></div>    The Company recorded $2,551,397, $0 and $0 of expense relating to restricted stock units during the years ended September 30, 2014, 2013 and 2012, respectively, and such expense is included in stock-based compensation expense in the Company’s Consolidated Statement of Operations.   As of September 30, 2014, the pre-tax compensation expense for all unvested restricted stock units in the amount of approximately $4,913,516 will be recognized in the Company’s results of operations over a weighted average period of 1.5 years. </div>

<div> NOTE 10. FAIR VALUE MEASUREMENTS The Company measures its financial assets and liabilities at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., exit price) in an orderly transaction between market participants at the measurement date. Additionally, the Company is required to provide disclosure and categorize assets and liabilities measured at fair value into one of three different levels depending on the assumptions (i.e., inputs) used in the valuation. Level 1 provides the most reliable measure of fair value while Level 3 generally requires significant management judgment. Financial assets and liabilities are classified in their entirety based on the lowest level of input significant to the fair value measurement. The fair value hierarchy is defined as follows: Level 1—Valuations are based on unadjusted quoted prices in active markets for identical assets or liabilities. Level 2—Valuations are based on quoted prices for similar assets or liabilities in active markets, or quoted prices in markets that are not active for which significant inputs are observable, either directly or indirectly. Level 3—Valuations are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. Inputs reflect management’s best estimate of what market participants would use in valuing the asset or liability at the measurement date. The following table summarizes fair value measurements at September 30, 2014 and September 30, 2013 for assets and liabilities measured at fair value on a recurring basis: September 30, 2014:   <div> <table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:92%;"> <tr> <td valign="bottom" style="width:41%;">  </td> <td colspan="2" valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:1%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Level 1</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">   </td> <td colspan="2" valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:1%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Level 2</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">   </td> <td colspan="2" valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:1%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Level 3</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">   </td> <td colspan="2" valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:1%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Total</td> <td valign="bottom" style="width:1%;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:41%;"> Cash and cash equivalents</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">132,510,610</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">132,510,610</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:41%;"> Derivative liabilities</td> <td valign="bottom" style="width:1%;"> $</td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%;white-space:nowrap;">   </td> <td valign="bottom" style="width:1%;">   </td> <td valign="bottom" style="width:1%;"> $</td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%;white-space:nowrap;">   </td> <td valign="bottom" style="width:1%;">   </td> <td valign="bottom" style="width:1%;"> $</td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4,173,943</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;"> $</td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4,173,943</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:41%;"> Contingent consideration obligations related to acquisitions</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3,970,931</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3,970,931</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> </table></div>    September 30, 2013:   <div> <table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:92%;"> <tr> <td valign="bottom" style="width:41%;">  </td> <td colspan="2" valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:1%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Level 1</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">   </td> <td colspan="2" valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:1%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Level 2</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">   </td> <td colspan="2" valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:1%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Level 3</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">   </td> <td colspan="2" valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:1%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Total</td> <td valign="bottom" style="width:1%;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:41%;"> Cash and cash equivalents</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">19,114,444</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">19,114,444</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:41%;"> Derivative liabilities</td> <td valign="bottom" style="width:1%;"> $</td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%;white-space:nowrap;">   </td> <td valign="bottom" style="width:1%;">   </td> <td valign="bottom" style="width:1%;"> $</td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%;white-space:nowrap;">   </td> <td valign="bottom" style="width:1%;">   </td> <td valign="bottom" style="width:1%;"> $</td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4,096,363</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;"> $</td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4,096,363</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:41%;"> Contingent consideration obligations related to acquisitions</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,595,273</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,595,273</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> </table></div>    The Company invests its excess cash balances in short and long-term corporate bonds, generally with remaining maturities of less than two years.  At September 30, 2014, the Company had short-term investments of $21.7 million, and long-term investments of $23.1 million, for a total of $44.7 million.  The fair value of its investment at September 30, 2014 was $44.3 million.  The Company expects to hold such investments until maturity, and thus unrealized gains and losses from the fluctuations in the fair value of the securities are not likely to be realized. As part of an equity financing in June 2010, Arrowhead issued warrants to acquire up to 329,649 shares of Common Stock (the “2010 Warrants”), of which 24,324 warrants were outstanding at September 30, 2014. Similarly, as part of a financing in December 2012, Arrowhead issued warrants to acquire up to 912,543 shares of Common Stock (the “2012 Warrants”) of which 265,161 warrants were outstanding at September 30, 2014.  Further, as part of a financing in January 2013, Arrowhead issued warrants to acquire up to 833,530 shares of Common Stock (the “2013 Warrants”) of which 12,123 warrants were outstanding at September 30, 2014 (collectively the “Warrants”).  Each of the Warrants discussed above contains a mechanism to adjust the strike price upon the issuance of certain dilutive equity securities. If during the terms of the Warrants, the Company issues Common Stock at a price lower than the exercise price for the Warrants, the exercise price would be reduced to the amount equal to the issuance price of the Common Stock.  As a result of these features, the Warrants are subject to derivative accounting as prescribed under ASC 815. Accordingly, the fair value of the Warrants on the date of issuance was estimated using an option pricing model and recorded on the Company’s Consolidated Balance Sheet as a derivative liability. The fair value of the Warrants is estimated at the end of each reporting period and the change in the fair value of the Warrants is recorded as a non-operating gain or loss as change in value of derivatives in the Company’s Consolidated Statement of Operations. During the years ended September 30, 2014, the Company recorded a non-cash loss from the change in fair value of the derivative liability of $5,821,796.   The assumptions used in valuing the derivative liability as of September 30, 2014 and 2013 were as follows:   <div> <table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:66%;"> <tr> <td valign="bottom" style="width:33%;"> 2010 Warrants</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">September 30, 2014</td> <td valign="bottom" style="width:1%;white-space:nowrap;">   </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">September 30, 2013</td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:33%;"> Risk free interest rate</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.13%</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.33%</td> </tr> <tr> <td valign="bottom" style="width:33%;"> Expected life</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:36pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.2 Years</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.2 Years</td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:33%;"> Dividend yield</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">None</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">None</td> </tr> <tr> <td valign="bottom" style="width:33%;"> Volatility</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">69%</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">69%</td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:33%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:15%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:15%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </td> </tr> <tr> <td valign="bottom" style="width:33%;"> 2012 Warrants</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">September 30, 2014</td> <td valign="bottom" style="width:1%;white-space:nowrap;">   </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">September 30, 2013</td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:33%;"> Risk free interest rate</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.07%</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.39%</td> </tr> <tr> <td valign="bottom" style="width:33%;"> Expected life</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:36pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.2 Years</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.2 Years</td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:33%;"> Dividend yield</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">None</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">None</td> </tr> <tr> <td valign="bottom" style="width:33%;"> Volatility</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">69%</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">69%</td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:33%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:15%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:15%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </td> </tr> <tr> <td valign="bottom" style="width:33%;"> 2013 Warrants</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">September 30, 2014</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">September 30, 2013</td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:33%;"> Risk free interest rate</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.07%</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.39%</td> </tr> <tr> <td valign="bottom" style="width:33%;"> Expected life</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:36pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.3 Years</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.3 Years</td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:33%;"> Dividend yield</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">None</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">None</td> </tr> <tr> <td valign="bottom" style="width:33%;"> Volatility</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">69%</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">69%</td> </tr> </table></div>    The following is a reconciliation of the derivative liability related to these warrants for the years ended September 30, 2014 and 2013:   <div> <table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:68%;"> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:54%;"> Value at September 30, 2012</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:12%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">626,195</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:54%;"> Issuance of instruments</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:12%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2,153,819</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:54%;"> Change in value</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:12%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5,066,591</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:54%; border-bottom:solid 0.75pt transparent;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:12pt;;text-indent:-12pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Net settlements</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:12%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(3,754,808 </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;"> )</td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:54%;"> Value at September 30, 2013</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:12%; border-top:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4,091,797</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:54%;"> Issuance of instruments</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:12%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:54%;"> Change in value</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:12%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5,821,796</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:54%; border-bottom:solid 0.75pt transparent;"> Net settlements</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:12%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(5,956,079) </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:54%; border-bottom:double 2.5pt transparent;"> Value at September 30, 2014</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:12%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3,957,514</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;">  </td> </tr> </table></div>    In conjunction with the financing of Ablaris in fiscal 2011, Arrowhead sold exchange rights to certain investors whereby the investors have the right to exchange their shares of Ablaris for a prescribed number of Arrowhead shares based upon a predefined ratio. The exchange rights have a seven-year term. During the first year, the exchange right allows the holder to exchange one Ablaris share for 0.06 Arrowhead shares. This ratio declines to 0.04 in the second year, 0.03 in the third year and 0.02 in the fourth year. In the fifth year and beyond the exchange ratio is 0.01.  Exchange rights for 675,000 Ablaris shares were sold in fiscal 2011, and remain outstanding at September 30, 2014. The exchange rights are subject to derivative accounting as prescribed under ASC 815. Accordingly, the fair value of the exchange rights on the date of issuance was estimated using an option pricing model and recorded on the Company’s Consolidated Balance Sheet as a derivative liability. The fair value of the exchange rights is estimated at the end of each reporting period and the change in the fair value of the exchange rights is recorded as a nonoperating gain or loss in the Company’s Consolidated Statement of Operations. During the year ended September 30, 2014, the Company recorded a non-cash loss from the change in fair value of the derivative liability of $211,860. The assumptions used in valuing the derivative liability as of September 30, 2014 and 2013 were as follows:   <div> <table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:76%;"> <tr> <td valign="bottom" style="width:55%;">  </td> <td valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:10%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">September 30,  2014</td> <td valign="bottom" style="width:1%;">   </td> <td valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:10%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">September 30,  2013</td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:55%;"> Risk free interest rate</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.07%</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.39%</td> </tr> <tr> <td valign="bottom" style="width:55%;"> Expected life</td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.3 Years</td> <td valign="bottom" style="width:1%;">   </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.3 Years</td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:55%;"> Dividend yield</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">None</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">None</td> </tr> <tr> <td valign="bottom" style="width:55%;"> Volatility</td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">100%</td> <td valign="bottom" style="width:1%;">   </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">100%</td> </tr> </table></div>    The following is a reconciliation of the derivative liability related to these exchange rights for the years ended September 30, 2014 and 2013:   <div> <table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:68%;"> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:54%;"> Value at September 30, 2012</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:12%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">10,375</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:54%;"> Issuance of instruments</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:12%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:54%;"> Change in value</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:12%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(5,806</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;"> )</td> </tr> <tr> <td valign="bottom" style="width:54%; border-bottom:solid 0.75pt transparent;"> Net settlements</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:12%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:54%;"> Value at September 30, 2013</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:12%; border-top:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4,569</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:54%;"> Issuance of instruments</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:12%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:54%;"> Change in value</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:12%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">211,860</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:54%; border-bottom:solid 0.75pt transparent;"> Net settlements</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:12%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:54%; border-bottom:double 2.5pt transparent;"> Value at September 30, 2014</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:12%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">216,429</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;">  </td> </tr> </table></div>    The derivative liabilities are estimated using option pricing models that are based on the individual characteristics of the warrants or instruments on the valuation date, as well as assumptions for expected volatility, expected life and risk-free interest rate. Changes in the assumptions used could have a material impact on the resulting fair value. The primary input affecting the value of our derivatives liabilities is the Company’s stock price. Other inputs have a comparatively insignificant effect. During the year ended September 30, 2012, contingent consideration was recorded as an other non-current liability upon the acquisitions of Roche Madison Inc. and Alvos Therapeutics, Inc., totaling $173,621. The fair value measurement of the contingent consideration obligations is determined using Level 3 inputs. The fair value of contingent consideration obligations is based on a discounted cash flow model using a probability-weighted income approach. The measurement is based upon unobservable inputs supported by little or no market activity based on our own assumptions and experience. Estimating timing to complete the development, and obtain approval of products is difficult, and there are inherent uncertainties in developing a product candidate, such as obtaining U.S. Food and Drug Administration (FDA) and other regulatory approvals. In determining the probability of regulatory approval and commercial success, we utilize data regarding similar milestone events from several sources, including industry studies and our own experience. These fair value measurements represent Level 3 measurements as they are based on significant inputs not observable in the market. Significant judgment is employed in determining the appropriateness of these assumptions as of the acquisition date and for each subsequent period. Accordingly, changes in assumptions could have a material impact on the amount of contingent consideration expense we record in any given period. Changes in the fair value of the contingent consideration obligations are recorded in our Consolidated Statement of Operations.   The following is a reconciliation of contingent consideration fair value during the years ended September 30, 2014 and 2013.   <div> <table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:68%;"> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:54%;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:12.25pt;;text-indent:-12.25pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Value at September 30, 2012</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:12%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">173,621</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:54%;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:12.25pt;;text-indent:-12.25pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Purchase price contingent consideration</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:12%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:54%;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:12.25pt;;text-indent:-12.25pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Contingent consideration payments</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:12%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:54%; border-bottom:solid 0.75pt transparent;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:12.25pt;;text-indent:-12.25pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Change in fair value of contingent consideration</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:12%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,421,652</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:54%;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:12.25pt;;text-indent:-12.25pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Value at September 30, 2013</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:12%; border-top:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,595,273</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:54%;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:12.25pt;;text-indent:-12.25pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Purchase price contingent consideration</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:12%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:54%;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:12.25pt;;text-indent:-12.25pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Contingent consideration payments</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:12%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:54%; border-bottom:solid 0.75pt transparent;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:12.25pt;;text-indent:-12.25pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Change in fair value of contingent consideration</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:12%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2,375,658</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:54%; border-bottom:double 2.5pt transparent;"> Value at September 30, 2014</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt #000000;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:12%; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3,970,931</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;">  </td> </tr> </table></div>    The fair value of contingent consideration obligations is estimated through valuation models designed to estimate the probability of such contingent payments based on various assumptions and incorporating estimated success rates.  Estimated payments are discounted using present value techniques to arrive at estimated fair value at the balance sheet date.  Changes in the fair value of the contingent consideration obligations can result from changes to one or multiple inputs, including adjustments to the discount rates, changes in the amount or timing of expected expenditures associated with product development, changes in the amount or timing of cash flows from products upon commercialization, changes in the assumed achievement or timing of any development milestones, changes in the probability of certain clinical events and changes in the assumed probability associated with regulatory approval. Each of these assumptions can have a significant impact on the calculation of contingent consideration. The carrying amounts of the Company’s other financial instruments, which include accounts receivable, accounts payable, and accrued expenses approximate their respective fair values due to the relatively short-term nature of these instruments. The carrying value of the Company’s debt obligations approximates fair value based on market interest rates. </div>

<div> NOTE 11. - INCOME TAXES The Company utilizes the guidance issued by the FASB for accounting for income taxes which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred income taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each year-end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. The provision for income taxes represents the tax payable for the period and the change during the period in deferred tax assets and liabilities. Components of the net deferred tax asset (liability) at September 30, 2014 and 2013 are as follows:   <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:92%;"> <tr> <td valign="bottom" style="width:67%;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:7.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2014</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">  </td> <td colspan="2" valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:7.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2013</td> <td valign="bottom" style="width:1%;">  </td> </tr> <tr> <td valign="top" bgcolor="#CCEEFF" style="width:67%;"> Deferred tax assets:</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%; border-top:solid 0.75pt #000000;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> </tr> <tr> <td valign="top" style="width:67%;"> Reserve for other receivables</td> <td valign="bottom" style="width:1%;"> $</td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">233,014</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;"> $</td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,026,010</td> <td valign="bottom" style="width:1%;">  </td> </tr> <tr> <td valign="top" bgcolor="#CCEEFF" style="width:67%;"> Accrued compensation</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,313,354</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">159,015</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> </tr> <tr> <td valign="top" style="width:67%;"> Stock compensation</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> 3,011,369</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,269,020</td> <td valign="bottom" style="width:1%;">  </td> </tr> <tr> <td valign="top" bgcolor="#CCEEFF" style="width:67%;"> Capitalized research and development</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> 13,536,745</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3,985,025</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> </tr> <tr> <td valign="top" style="width:67%;"> Fair value adjustments</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> 1,864,364</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">749,030</td> <td valign="bottom" style="width:1%;">  </td> </tr> <tr> <td valign="top" bgcolor="#CCECFF" style="width:67%; border-bottom:solid 0.75pt transparent;"> Net operating losses</td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" bgcolor="#CCECFF" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">42,268,526</td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" bgcolor="#CCECFF" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">52,133,035</td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> </tr> <tr> <td valign="bottom" style="width:67%;"> Total deferred tax assets</td> <td valign="bottom" style="width:1%; border-top:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:10%; border-top:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">62,227,372</td> <td valign="bottom" style="width:1%;">  </td> <td valign="middle" style="width:1%;">  </td> <td valign="bottom" style="width:1%; border-top:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:10%; border-top:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">59,321,135</td> <td valign="bottom" style="width:1%;">  </td> </tr> <tr> <td valign="top" bgcolor="#CCECFF" style="width:67%;"> Valuation allowance</td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCECFF" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(55,224,802</td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%;"> )</td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCECFF" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(52,214,090</td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%;"> )</td> </tr> <tr> <td valign="top" style="width:67%;"> Deferred tax liabilities:</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;">  </td> <td valign="bottom" style="width:1%;">  </td> </tr> <tr> <td valign="top" bgcolor="#CCEEFF" style="width:67%;"> State taxes</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(6,277,587</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;"> )</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(5,042,010</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;"> )</td> </tr> <tr> <td valign="top" style="width:67%;"> Equity investments</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(7,675</td> <td valign="bottom" style="width:1%;"> )</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%;">  </td> </tr> <tr> <td valign="top" bgcolor="#CCEEFF" style="width:67%;"> Intangible assets</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(475,829</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;"> )</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(1,521,015</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;"> )</td> </tr> <tr> <td valign="top" style="width:67%; border-bottom:solid 0.75pt transparent;"> Fixed assets</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(241,479</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;"> )</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(544,020</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;"> )</td> </tr> <tr style="height:6.75pt;"> <td valign="bottom" bgcolor="#CCECFF" style="width:67%; border-bottom:solid 0.75pt transparent;"> Total deferred tax liability</td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" bgcolor="#CCECFF" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(7,002,570</td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%; border-bottom:solid 0.75pt transparent;"> )</td> <td valign="middle" bgcolor="#CCECFF" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" bgcolor="#CCECFF" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(7,107,045</td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%; border-bottom:solid 0.75pt transparent;"> <p style="border-top:Solid 0.75pt #000000;padding-top:0pt;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">)</td> </tr> <tr style="height:6.75pt;"> <td valign="bottom" style="width:67%; border-bottom:double 2.5pt transparent;"> Net deferred tax assets</td> <td valign="bottom" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> $</td> <td valign="bottom" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%; border-bottom:double 2.5pt transparent;">  </td> <td valign="middle" style="width:1%; border-bottom:double 2.5pt transparent;">  </td> <td valign="bottom" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> $</td> <td valign="bottom" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%; border-bottom:double 2.5pt transparent;">  </td> </tr> </table></div> The Company’s book losses and other timing differences result in a net deferred income tax benefit which is offset by a valuation allowance for a net deferred asset of zero. The Company has concluded, in accordance with the applicable accounting standards, that it is more likely than not that the Company may not realize the benefit of all of its deferred tax assets. Accordingly, management has provided a 100% valuation allowance against its deferred tax assets until such time as management believes that its projections of future profits as well as expected future tax rates make the realization of these deferred tax assets more-likely-than-not. Significant judgment is required in the evaluation of deferred tax benefits and differences in future results from our estimates could result in material differences in the realization of these assets. As of September 30, 2014 and 2013, federal deferred tax assets were estimated to be $62.2 million and $59.3 million, respectively. The Company has recorded a full valuation allowance related to all of its deferred tax assets. The Company has performed an assessment of positive and negative evidence regarding the realization of the net deferred tax asset in accordance with FASB ASC 740-10, “Accounting for Income Taxes.” This assessment included the evaluation of scheduled reversals of deferred tax liabilities, the availability of carry forwards and estimates of projected future taxable income. As of September 30, 2013, the Company had available gross federal net operating loss (NOL) carry forwards of $64.1 million and gross state NOL carry forwards of $80.0 million which expire at various dates through 2033.  Gross federal NOL carry forwards for 2014 are estimated at $24.2 million, and gross state NOL carry forwards for 2014 are estimated at $37.9 million The provision for income taxes for the years ended September 30, 2014 and 2013 are as follows:   <div> <table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:92%;"> <tr> <td valign="bottom" style="width:67%;">  </td> <td colspan="2" valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:7.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2014</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">  </td> <td colspan="2" valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:7.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2013</td> <td valign="bottom" style="width:1%;">  </td> </tr> <tr> <td valign="top" bgcolor="#CCEEFF" style="width:67%;"> Federal:</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> </tr> <tr> <td valign="top" style="width:67%;"> Current</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="top" bgcolor="#CCEEFF" style="width:67%; border-bottom:solid 0.75pt transparent;"> Deferred</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:67%; border-bottom:solid 0.75pt transparent;"> Total Federal</td> <td valign="bottom" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> </tr> <tr> <td valign="top" bgcolor="#CCEEFF" style="width:67%;"> State:</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> </tr> <tr> <td valign="top" style="width:67%;"> Current</td> <td valign="bottom" style="width:1%;white-space:nowrap;"> $</td> <td valign="bottom" style="width:10%;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5,300</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:10%;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="top" bgcolor="#CCEEFF" style="width:67%; border-bottom:solid 0.75pt transparent;"> Deferred</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> </tr> <tr> <td valign="top" style="width:67%; border-bottom:solid 0.75pt transparent;"> Total State</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;"> $</td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5,300</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> </tr> <tr> <td valign="top" bgcolor="#CCEEFF" style="width:67%; border-bottom:double 2.5pt transparent;"> Provision from income taxes</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> $</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5,300</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%; border-bottom:double 2.5pt transparent;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;">  </td> </tr> </table></div>   The Company’s effective income tax rate differs from the statutory federal income tax rate as follows for the years ended September 30, 2014 and 2013:   <div> <table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:92%;"> <tr> <td valign="bottom" style="width:67%;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:7.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2014</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">  </td> <td colspan="2" valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:7.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2013</td> <td valign="bottom" style="width:1%;">  </td> </tr> <tr> <td valign="top" bgcolor="#CCEEFF" style="width:67%;"> At U.S. federal statutory rate</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%; border-top:solid 0.75pt #000000;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%; border-top:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">34.0</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;"> %</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%; border-top:solid 0.75pt #000000;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%; border-top:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">34.0</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;"> %</td> </tr> <tr> <td valign="top" style="width:67%;"> State taxes, net of federal effect</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">7.6</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">10.3</td> <td valign="bottom" style="width:1%;">  </td> </tr> <tr> <td valign="top" bgcolor="#CCEEFF" style="width:67%;"> Stock compensation</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(0.1</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;"> )</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(1.1</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;"> )</td> </tr> <tr> <td valign="top" style="width:67%;"> Mark-to-market adjustments</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(3.5</td> <td valign="bottom" style="width:1%;"> )</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(5.8</td> <td valign="bottom" style="width:1%;">  </td> </tr> <tr> <td valign="top" bgcolor="#CCECFF" style="width:67%;"> Other permanent items</td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCECFF" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(0.1</td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%;"> )</td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCECFF" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(0.0</td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%;"> )</td> </tr> <tr> <td valign="top" style="width:67%;"> Valuation allowance</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(5.2</td> <td valign="bottom" style="width:1%;"> )</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(37.4</td> <td valign="bottom" style="width:1%;"> )</td> </tr> <tr> <td valign="top" bgcolor="#CCECFF" style="width:67%; border-bottom:solid 0.75pt transparent;"> Write-off of net operating losses</td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" bgcolor="#CCECFF" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(32.7</td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%; border-bottom:solid 0.75pt transparent;"> )</td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" bgcolor="#CCECFF" style="width:10%; border-bottom:solid 0.75pt #000000;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(0.0</td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%; border-bottom:solid 0.75pt #000000;"> )</td> </tr> <tr> <td valign="top" style="width:67%; border-bottom:double 2.5pt transparent;"> Effective income tax rate</td> <td valign="bottom" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;">  </td> <td valign="bottom" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.0</td> <td valign="bottom" style="width:1%; border-bottom:double 2.5pt transparent;"> %</td> <td valign="bottom" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;">  </td> <td valign="bottom" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.0</td> <td valign="bottom" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> %</td> </tr> </table></div> The Company has adopted guidance issued by the FASB that clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements and prescribes a recognition threshold of more likely than not and a measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. In making this assessment, a company must determine whether it is more likely than not that a tax position will be sustained upon examination, based solely on the technical merits of the position and must assume that the tax position will be examined by taxing authorities. The Company’s policy is to include interest and penalties related to unrecognized tax benefits in income tax expense.  The Company has not recognized any unrecognized tax benefits and does not have any interest or penalties related to uncertain tax positions as of September 30, 2014 and 2013. The Company files income tax returns with the Internal Revenue Service (“IRS”), the state of California and certain other taxing jurisdictions. The Company is no longer subject to income tax examinations by the IRS for tax years through fiscal 2010 and by state tax authorities for tax years through fiscal 2009. </div>

<div> Nature of Business Arrowhead Research develops novel drugs to treat intractable diseases by silencing the genes that cause them. Using the broadest portfolio of RNA chemistries and efficient modes of delivery, Arrowhead therapies trigger the RNA interference mechanism to induce rapid, deep and durable knockdown of target genes. Arrowhead’s most advanced drug candidate in clinical development is ARC-520, which is designed to treat chronic hepatitis B infection by inhibiting the production of all HBV gene products.  The goal is to reverse the immune suppression that prevents the body from controlling the virus and clearing the disease. Arrowhead’s second clinical candidate is ARC-AAT, a treatment for a rare liver disease associated with a genetic disorder that causes alpha-1 antitrypsin deficiency.</div>

<div> Liquidity Historically, the Company’s primary source of financing has been through the sale of securities of Arrowhead Research Corp. Research and development activities have required significant capital investment since the Company’s inception and we expect our operations to continue to require cash investment in fiscal 2015 and beyond as the Company continues its research and development efforts, as well as clinical trials, and related drug manufacturing.   At September 30, 2014, the Company had $132.5 million in cash to fund operations. In addition to its cash resources, the Company has invested excess cash in investment grade commercial bonds maturing in less than 2 years.  These bonds provide a source of liquidity, although the Company plans to hold them until maturity.  At September 30, 2014, the Company had invested $44.7 million in these bonds.  During the year ended September 30, 2014, the Company’s cash position increased by $113.4 million which was the result of the receipt of cash from the issuance of equity of $172.6 million and cash from the exercise of warrants and options of $12.9 million, partially offset by cash outflows of $35.4 million related to continuing operating activities, net cash invested in fixed income investments of $34.8 million, and capital expenditures of $1.7 million.          </div>

<div> Principles of Consolidation— The consolidated financial statements include the accounts of Arrowhead and its Subsidiaries.  Arrowhead’s primary operating subsidiary is Arrowhead Madison, which is located in Madison, Wisconsin, where the Company’s research and development facilities are located. All significant intercompany accounts and transactions are eliminated in consolidation, and noncontrolling interests are accounted for in the Company’s financial statements. </div>

<div> Basis of Presentation and Use of Estimates—The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could materially differ from those estimates. Additionally, certain reclassifications have been made to prior period financial statements to conform to the current period presentation. </div>

<div> Cash and Cash Equivalents—The Company considers all liquid debt instruments purchased with a maturity of three months or less to be cash equivalents. The Company had no restricted cash at September 30, 2014 and 2013, respectively.</div>

<div> Concentration of Credit Risk—The Company maintains bank accounts for its operations at two financial institutions. These accounts are insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000 per account. Management believes the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which these deposits are held. </div>

<div> Investments—the Company may invest excess cash balances in short-term and long-term marketable debt securities. Investments may consist of certificates of deposits, money market accounts, government-sponsored enterprise securities, corporate bonds and/or commercial paper. The Company accounts for its investment in marketable securities in accordance with FASB ASC 320, Investments – Debt and Equity Securities. This statement requires certain securities to be classified into three categories: Held-to-maturity—Debt securities that the entity has the positive intent and ability to hold to maturity are reported at amortized cost. Trading Securities—Debt and equity securities that are bought and held primarily for the purpose of selling in the near term are reported at fair value, with unrealized gains and losses included in earnings. Available-for-Sale—Debt and equity securities not classified as either securities held-to-maturity or trading securities are reported at fair value with unrealized gains or losses excluded from earnings and reported as a separate component of shareholders’ equity. The Company classifies its investments in marketable debt securities based on the facts and circumstances present at the time of purchase of the securities. At September 30, 2014, the Company classified all of its investments as held-to-maturity. Held-to-maturity investments are measured and recorded at amortized cost on the Company’s Consolidated Balance Sheet. Discounts and premiums to par value of the debt securities are amortized to interest income/expense over the term of the security. No gains or losses on investment securities are realized until they are sold or a decline in fair value is determined to be other-than-temporary.                      </div>

<div> Property and Equipment—Property and equipment are recorded at cost, which may equal fair market value in the case of property and equipment acquired in conjunction with a business acquisition. Depreciation of property and equipment is recorded using the straight-line method over the respective useful lives of the assets ranging from three to seven years. Leasehold improvements are amortized over the lesser of the expected useful life or the remaining lease term. Long-lived assets, including property and equipment, are reviewed for impairment whenever events or circumstances indicate that the carrying amount of these assets may not be recoverable. </div>

<div> Intangible Assets Subject to Amortization—At September 30, 2014, intangible assets subject to amortization include certain license agreements. Intangible assets subject to amortization are reviewed for impairment whenever events or circumstances indicate that the carrying amount of these assets may not be recoverable. </div>

<div> In-Process Research & Development (IPR&D)—IPR&D assets represent capitalized on-going research projects that Arrowhead acquired through business combinations. Such assets are initially measured at their acquisition date fair values. The amounts capitalized are being accounted for as indefinite-lived intangible assets, subject to impairment testing until completion or abandonment of R&D efforts associated with the project. Upon successful completion of a project, Arrowhead will make a determination as to the then remaining useful life of the intangible asset and begin amortization. Based on ASC 350 – Intangibles, Goodwill and Other, Arrowhead tests its indefinite-lived assets for impairment at least annually, through a two-step process. The first step is a qualitative assessment to determine if it is more likely than not that the indefinite lived assets are impaired. Arrowhead considers relevant events and circumstances that could affect the inputs used to determine the fair value of the intangible assets. If the qualitative assessment indicates that it is more likely than not that the intangible assets is impaired, a second step is performed which is a quantitative test to determine the fair value of the intangible asset. If the carrying amount of the intangible assets exceeds its fair value, an impairment loss is recorded in the amount of that excess. If circumstances determine that it is appropriate, the Company may also elect to bypass step one, and proceed directly to the second step. </div>

<div> Contingent Consideration - The consideration for our acquisitions often includes future payments that are contingent upon the occurrence of a particular event.  For example, milestone payments might be based on the achievement of various regulatory approvals or future sales milestones, and royalty payments might be based on drug product sales levels. We record a contingent consideration obligation for such contingent payments at fair value on the acquisition date. We estimate the fair value of contingent consideration obligations through valuation models designed to estimate the probability of the occurrence of such contingent payments based on various assumptions and incorporating estimated success rates.  Estimated payments are discounted using present value techniques to arrive at estimated fair value at the balance sheet date.  We revalue these contingent consideration obligations each reporting period. Changes in the fair value of our contingent consideration obligations are recognized within our Consolidated Statement of Operations. Changes in the fair value of the contingent consideration obligations can result from changes to one or multiple inputs, including adjustments to the discount rates, changes in the amount or timing of expected expenditures associated with product development, changes in the amount or timing of cash flows from products upon commercialization, changes in the assumed achievement or timing of any development milestones, changes in the probability of certain clinical events and changes in the assumed probability associated with regulatory approval. These fair value measurements are based on significant inputs not observable in the market. Significant judgment is employed in determining the appropriateness of these assumptions as of the acquisition date and for each subsequent period. Accordingly, changes in assumptions could have a material impact on the amount of contingent consideration expense we record in any given period.</div> <div> Noncontrolling Interests in Majority-Owned Subsidiaries—Operating losses applicable to majority-owned Ablaris, Calando (prior to its deconsolidation), and Unidym (prior to its disposal) have periodically exceeded the noncontrolling interests in the equity capital of either Subsidiary. Such excess losses applicable to the noncontrolling interests have been and are borne by the Company as there is no obligation of the noncontrolling interests to fund any losses in excess of their original investment. There is also no obligation or commitment on the part of the Company to fund operating losses of any Subsidiary whether wholly-owned or majority-owned. The Company allocates the noncontrolling interest’s share of net loss in excess of the noncontrolling interest’s initial investment in accordance with FASB ASC 810-10. When there is a change in the Company’s proportionate share of a Subsidiary resulting from additional equity transactions in a Subsidiary, the change is accounted for as an equity transaction in consolidation. To the extent that the increase in the calculated value of the Company’s interest in the equity of the Subsidiary exceeds the Company’s investment in the offering, that increase in value is referred to as the Company’s “increase in its proportionate share of the Subsidiary’s equity” and the amount is recorded as an increase in the Company’s Additional Paid-in Capital. </div>

<div> Revenue Recognition—Revenue from license fees are recorded when persuasive evidence of an arrangement exists, title has passed or services have been rendered, a price is fixed and determinable, and collection is reasonably assured. We may generate revenue from product sales, technology licenses, collaborative research and development arrangements, and research grants. Revenue under technology licenses and collaborative agreements typically consists of nonrefundable and/or guaranteed technology license fees, collaborative research funding and various milestone and future product royalty or profit-sharing payments. Revenue associated with research and development funding payments under collaborative agreements is recognized ratably over the relevant periods specified in the agreement, generally the research and development period. Revenue from up-front license fees, milestones and product royalties are recognized as earned based on the completion of the milestones and product sales, as defined in the respective agreements. Payments received in advance of recognition as revenue are recorded as deferred revenue. </div>

<div> Allowance for Doubtful Accounts—The Company accrues an allowance for doubtful accounts based on estimates of uncollectible revenues by analyzing historical collections, accounts receivable aging and other factors. Accounts receivable are written off when all collection attempts have failed. </div>

<div> Research and Development—Costs and expenses that can be clearly identified as research and development are charged to expense as incurred in accordance with FASB ASC 730-10. Included in research and development costs are operating costs, facilities, supplies, external services, clinical trial and manufacturing costs, and overhead directly related to the Company’s research and development operations, as well as costs to acquire technology licenses.</div>

<div> Earnings (Loss) per Share—Basic earnings (loss) per share is computed using the weighted-average number of common shares outstanding during the period. Diluted earnings (loss) per share are computed using the weighted-average number of common shares and dilutive potential common shares outstanding during the period. Dilutive potential common shares primarily consist of stock options and restricted stock units issued to employees and warrants to purchase Common Stock of the Company.</div>

<div> Stock-Based Compensation—The Company accounts for share-based compensation arrangements in accordance with FASB ASC 718, which requires the measurement and recognition of compensation expense for all share-based payment awards to be based on estimated fair values. We use the Black-Scholes option valuation model to estimate the fair value of our stock options at the date of grant. The Black-Scholes option valuation model requires the input of subjective assumptions to calculate the value of stock options. We use historical data among other information to estimate the expected price volatility and the expected forfeiture rate. The fair value of restricted stock units granted is based upon the quoted closing market price per share on the date of grant, adjusted for assumed forfeitures. Expense for stock options and restricted stock units is recognized over the requisite service period. </div>

<div> Derivative Assets and Liabilities - We account for warrants and other derivative financial instruments as either equity or assets/liabilities based upon the characteristics and provisions of each instrument. Warrants classified as equity are recorded as additional paid-in capital on our Consolidated Balance Sheet and no further adjustments to their valuation are made. Some of our warrants were determined to be ineligible for equity classification because of provisions that may result in an adjustment to their exercise price. Warrants classified as derivative liabilities and other derivative financial instruments that require separate accounting as assets or liabilities are recorded on our Consolidated Balance Sheet at their fair value on the date of issuance and are revalued on each subsequent balance sheet date until such instruments are exercised or expire, with any changes in the fair value between reporting periods recorded as other income or expense. We estimate the fair value of these assets/liabilities using option pricing models that are based on the individual characteristics of the warrants or instruments on the valuation date, as well as assumptions for expected volatility, expected life and risk-free interest rate. </div>

<div> Income Taxes—The Company accounts for income taxes under the liability method, which requires the recognition of deferred income tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred income taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each period end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred income tax assets to the amount expected to be realized. The provision for income taxes, if any, represents the tax payable for the period and the change in deferred income tax assets and liabilities during the period. </div>

<div> Recently Issued Accounting Standards In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements – Going Concern (Topic 915): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern, which states that in connection with preparing financial statements for each annual and interim reporting period, an entity’s management should evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or within one year after the date that the financial statements are available to be issued when applicable). The adoption of this update did not have a material effect on our financial statements. In June 2014, the FASB issued ASU 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance, which eliminates the distinction and separate requirements for development stage entities and other reporting entities under U.S. GAAP.  Specifically the amendment eliminates the requirement for development stage entities to 1) present inception-to-date information in the statements of income, cash flow and shareholders’ equity, 2) label the financial statements as those of a development stage entity, 3) disclose a description of the development stage activities in which the entity is engaged and 4) disclose the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage.  ASU 2014-10 is effective for fiscal years beginning after December 15, 2014 with early adoption permitted.  The Company has adopted ASU 2014-10 effectively beginning with the filing of our Form 10-Q for period ended June 30, 2014.   In May 2014, the FASB issued ASU No. 2014-09 Revenue from Contracts with Customers (Topic 606), which will supersede nearly all existing revenue recognition guidance under GAAP. ASU No. 2014-09 provides that an entity recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This update also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments, and assets recognized from costs incurred to obtain or fulfill a contract. ASU No. 2014-09 allows for either full retrospective or modified retrospective adoption and will become effective for the Company in the first quarter of 2018. The Company is evaluating the potential effects of the adoption of this update on its financial statements. In July 2013, the FASB issued ASU 2013-11, Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists, which eliminates diversity in practice for the presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss or a tax credit carryforward is available to reduce the taxable income or tax payable that would result from disallowance of a tax position. ASU 2013-11 affects only the presentation of such amounts in an entity’s balance sheet and is effective for fiscal years beginning after December 15, 2013 and interim periods within those years. Early adoption is permitted. The adoption of this update did not have a material effect on our financial statements. In July 2012, the FASB issued ASU 2012-02, Testing Indefinite-Lived Intangible Assets for Impairment, which amended the guidance in ASU 2011-08 to simplify the testing of indefinite-lived intangible assets other than goodwill for impairment. ASU 2012-02 becomes effective for annual and interim impairment tests performed for fiscal years beginning on or after September 15, 2012 and earlier adoption is permitted. We adopted this standard in the third quarter of fiscal year 2012. The adoption of this update did not have a material effect on our financial statements.  </div>

<div> The following table summarizes our major classes of property and equipment:   <div> <table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:76%;"> <tr> <td valign="bottom" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:51%;">  </td> <td colspan="6" valign="bottom" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;">  </td> <td valign="bottom" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:51%; border-bottom:solid 0.75pt transparent;">  </td> <td colspan="2" valign="bottom" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">September 30, 2014</td> <td valign="bottom" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> <td valign="bottom" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td colspan="2" valign="bottom" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">September 30, 2013</td> <td valign="bottom" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:51%;"> Computers, office equipment and furniture</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">334,162</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">323,376</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:51%;"> Research equipment</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:10%;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4,614,176</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:10%;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3,452,013</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:51%;"> Software</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">69,623</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">69,623</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:51%; border-bottom:solid 0.75pt transparent;"> Leasehold improvements</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">  </td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt #000000;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3,045,022</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">  </td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt #000000;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2,749,409</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:51%;"> Total gross fixed assets </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-top:solid 0.75pt #000000;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">8,062,983</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-top:solid 0.75pt #000000;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">6,594,421</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:51%; border-bottom:solid 0.75pt transparent;"> Less:   Accumulated depreciation and amortization</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">  </td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt #000000;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(4,190,230</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;"> )</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">  </td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt #000000;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(3,081,186</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;"> )</td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:51%; border-bottom:double 2.5pt transparent;"> Property and equipment, net </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;white-space:nowrap;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3,872,753</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;white-space:nowrap;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3,513,235</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;">  </td> </tr> </table></div>  </div>

<div> The following tables summarize the Company’s short and long-term investments as of September 30, 2014 and 2013, respectively:   <div> <table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:100%;"> <tr> <td valign="bottom" style="width:49%;">  </td> <td colspan="14" valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">As of September 30, 2014</td> <td valign="bottom" style="width:1%;">  </td> </tr> <tr> <td valign="bottom" style="width:49%;">  </td> <td colspan="2" valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Amortized Cost</td> <td valign="bottom" style="width:1%; border-top:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:1%; border-top:solid 0.75pt #000000;">  </td> <td colspan="2" valign="bottom" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Gross Unrealized Gains</td> <td valign="bottom" style="width:1%; border-top:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:1%; border-top:solid 0.75pt #000000;">  </td> <td colspan="2" valign="bottom" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Gross Unrealized Losses</td> <td valign="bottom" style="width:1%; border-top:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:1%; border-top:solid 0.75pt #000000;">  </td> <td colspan="2" valign="bottom" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Fair Value</td> <td valign="bottom" style="width:1%;">  </td> </tr> <tr> <td valign="top" bgcolor="#CFF0FC" style="width:49%;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:12.25pt;;text-indent:-12.25pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Commercial notes (due within one year)</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-top:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">21,653,032</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-top:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-top:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(189,830</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> )</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-top:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">21,463,202</td> <td valign="top" bgcolor="#CFF0FC" style="width:1%;">  </td> </tr> <tr> <td valign="top" style="width:49%; border-bottom:solid 0.75pt transparent;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:12.25pt;;text-indent:-12.25pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Commercial notes (due after one year through two years)</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;"> $</td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">23,088,346</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;"> $</td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(217,693</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;"> )</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;"> $</td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">22,870,653</td> <td valign="top" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> </tr> <tr> <td valign="top" bgcolor="#CFF0FC" style="width:49%; border-bottom:double 2.5pt transparent;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:12.25pt;;text-indent:-12.25pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Total</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">44,741,378</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(407,523</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;"> )</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">44,333,855</td> <td valign="top" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;">  </td> </tr> </table></div>   <div> <table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:100%;"> <tr> <td valign="bottom" style="width:49%;">  </td> <td colspan="14" valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">As of September 30, 2013</td> <td valign="bottom" style="width:1%;">  </td> </tr> <tr> <td valign="bottom" style="width:49%;">  </td> <td colspan="2" valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Amortized Cost</td> <td valign="bottom" style="width:1%; border-top:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:1%; border-top:solid 0.75pt #000000;">  </td> <td colspan="2" valign="bottom" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Gross Unrealized Gains</td> <td valign="bottom" style="width:1%; border-top:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:1%; border-top:solid 0.75pt #000000;">  </td> <td colspan="2" valign="bottom" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Gross Unrealized Losses</td> <td valign="bottom" style="width:1%; border-top:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:1%; border-top:solid 0.75pt #000000;">  </td> <td colspan="2" valign="bottom" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Fair Value</td> <td valign="bottom" style="width:1%;">  </td> </tr> <tr> <td valign="top" bgcolor="#CFF0FC" style="width:49%;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:12.25pt;;text-indent:-12.25pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Commercial notes (due within one year)</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-top:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">9,030,261</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-top:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">7,500</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-top:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(39,281</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> )</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-top:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">8,998,480</td> <td valign="top" bgcolor="#CFF0FC" style="width:1%;">  </td> </tr> <tr> <td valign="top" style="width:49%; border-bottom:solid 0.75pt transparent;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:12.25pt;;text-indent:-12.25pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Commercial notes (due after one year through two years)</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;"> $</td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,702,153</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;"> $</td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(2,362</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;"> )</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;"> $</td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,699,791</td> <td valign="top" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> </tr> <tr> <td valign="top" bgcolor="#CFF0FC" style="width:49%; border-bottom:double 2.5pt transparent;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:12.25pt;;text-indent:-12.25pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Total</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">10,732,414</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">7,500</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(41,643</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;"> )</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">10,698,271</td> <td valign="top" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;">  </td> </tr> </table></div>  </div>

<div> The below table provides details on our intangible asset balances:   <div> <table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:70.3%;"> <tr> <td valign="bottom" style="width:47.12%;">  </td> <td colspan="2" valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:10%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Intangible assets not subject to amortization</td> <td valign="bottom" style="width:1.5%;">  </td> <td valign="bottom" style="width:1.5%;">   </td> <td colspan="2" valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:10%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Intangible assets subject to amortization</td> <td valign="bottom" style="width:1.72%;">  </td> <td valign="bottom" style="width:0.84%;">  </td> <td colspan="2" valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:10%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Total Intangible assets</td> <td valign="bottom" style="width:1.06%;">  </td> </tr> <tr> <td valign="top" bgcolor="#CFF0FC" style="width:47.12%;"> Balance at September 30, 2012</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.52%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3,117,322</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.5%;white-space:nowrap;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.5%;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.52%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,667,247</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.72%;white-space:nowrap;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:0.84%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.52%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4,784,569</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.06%;white-space:nowrap;">  </td> </tr> <tr> <td valign="top" style="width:47.12%;"> Impairment</td> <td valign="bottom" style="width:1.52%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-</td> <td valign="bottom" style="width:1.5%;white-space:nowrap;">   </td> <td valign="bottom" style="width:1.5%;">   </td> <td valign="bottom" style="width:1.52%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(1,308,047)</td> <td valign="bottom" style="width:1.72%;white-space:nowrap;">   </td> <td valign="bottom" style="width:0.84%;">  </td> <td valign="bottom" style="width:1.52%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(1,308,047</td> <td valign="bottom" style="width:1.06%;white-space:nowrap;"> )</td> </tr> <tr> <td valign="top" bgcolor="#CFF0FC" style="width:47.12%; border-bottom:solid 0.75pt transparent;"> Amortization</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.52%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.5%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.5%; border-bottom:solid 0.75pt transparent;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.52%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(236,009) </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.72%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:0.84%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.52%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> (236,009</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.06%; border-bottom:solid 0.75pt transparent;white-space:nowrap;"> )</td> </tr> <tr> <td valign="top" style="width:47.12%;"> Balance at September 30, 2013</td> <td valign="bottom" style="width:1.52%; border-top:solid 0.75pt #000000;"> $</td> <td valign="bottom" style="width:10%; border-top:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3,117,322</td> <td valign="bottom" style="width:1.5%;white-space:nowrap;">   </td> <td valign="bottom" style="width:1.5%;">   </td> <td valign="bottom" style="width:1.52%; border-top:solid 0.75pt #000000;"> $</td> <td valign="bottom" style="width:10%; border-top:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">123,191</td> <td valign="bottom" style="width:1.72%;white-space:nowrap;">   </td> <td valign="bottom" style="width:0.84%;">  </td> <td valign="bottom" style="width:1.52%; border-top:solid 0.75pt #000000;"> $</td> <td valign="bottom" style="width:10%; border-top:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3,240,513</td> <td valign="bottom" style="width:1.06%;white-space:nowrap;">  </td> </tr> <tr> <td valign="top" bgcolor="#CFF0FC" style="width:47.12%;"> Impairment</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.52%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(2,172,387)</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.5%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.5%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.52%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.72%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:0.84%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.52%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(2,172,387</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.06%;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">)</td> </tr> <tr> <td valign="top" style="width:47.12%; border-bottom:solid 0.75pt transparent;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:12pt;;text-indent:-12pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Amortization</td> <td valign="bottom" style="width:1.52%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-</td> <td valign="bottom" style="width:1.5%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">   </td> <td valign="bottom" style="width:1.5%; border-bottom:solid 0.75pt transparent;">   </td> <td valign="bottom" style="width:1.52%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(54,653) </td> <td valign="bottom" style="width:1.72%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> <td valign="bottom" style="width:0.84%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:1.52%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> (54,653</td> <td valign="bottom" style="width:1.06%; border-bottom:solid 0.75pt transparent;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">)</td> </tr> <tr> <td valign="top" bgcolor="#CFF0FC" style="width:47.12%; border-bottom:double 2.5pt transparent;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:12pt;;text-indent:-12pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Balance at September 30, 2014</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.52%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">944,935</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.5%; border-bottom:double 2.5pt transparent;white-space:nowrap;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.5%; border-bottom:double 2.5pt transparent;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.52%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">68,538</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.72%; border-bottom:double 2.5pt transparent;white-space:nowrap;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:0.84%; border-bottom:double 2.5pt transparent;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.52%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,013,473</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.06%; border-bottom:double 2.5pt transparent;white-space:nowrap;">  </td> </tr> </table></div>  </div>

<div> The following table summarizes information about warrants outstanding at September 30, 2014:   <div> <table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:76%;"> <tr> <td colspan="3" valign="top" style="width:75.36%; border-bottom:solid 1pt #000000;">   Exercise prices</td> <td valign="top" style="width:0.18%;">  </td> <td colspan="2" valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:10%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Number of Warrants</td> <td valign="bottom" style="width:1.06%;">  </td> <td valign="bottom" style="width:1.06%;">   </td> <td colspan="2" valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:10%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Remaining Life in Years</td> <td valign="bottom" style="width:0.18%;">  </td> </tr> <tr> <td valign="top" bgcolor="#CFF0FC" style="width:1.54%;"> $</td> <td valign="top" bgcolor="#CFF0FC" style="width:4.3%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:12pt;;text-indent:-12pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">70.60</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:69.54%;"> </td> <td valign="top" bgcolor="#CFF0FC" style="width:0.18%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.26%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">94,897</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.06%;white-space:nowrap;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.06%;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:0.76%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.6</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:0.18%;white-space:nowrap;">  </td> </tr> <tr> <td valign="top" style="width:1.54%;"> $</td> <td valign="top" style="width:4.3%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:12pt;;text-indent:-12pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5.00</td> <td valign="bottom" style="width:69.54%;"> </td> <td valign="top" style="width:0.18%;">  </td> <td valign="bottom" style="width:1.26%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">413,825</td> <td valign="bottom" style="width:1.06%;white-space:nowrap;">   </td> <td valign="bottom" style="width:1.06%;">   </td> <td valign="bottom" style="width:0.76%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.9</td> <td valign="bottom" style="width:0.18%;white-space:nowrap;">  </td> </tr> <tr> <td valign="top" bgcolor="#CFF0FC" style="width:1.54%;"> $</td> <td valign="top" bgcolor="#CFF0FC" style="width:4.3%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:12pt;;text-indent:-12pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5.09</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:69.54%;"> </td> <td valign="top" bgcolor="#CFF0FC" style="width:0.18%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.26%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">269,912</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.06%;white-space:nowrap;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.06%;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:0.76%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.2</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:0.18%;white-space:nowrap;">  </td> </tr> <tr> <td valign="top" style="width:1.54%;"> $</td> <td valign="top" style="width:4.3%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:12pt;;text-indent:-12pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.38</td> <td valign="bottom" style="width:69.54%;"> </td> <td valign="top" style="width:0.18%;">  </td> <td valign="bottom" style="width:1.26%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">24,324</td> <td valign="bottom" style="width:1.06%;white-space:nowrap;">   </td> <td valign="bottom" style="width:1.06%;">   </td> <td valign="bottom" style="width:0.76%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.2</td> <td valign="bottom" style="width:0.18%;white-space:nowrap;">  </td> </tr> <tr> <td valign="top" bgcolor="#CFF0FC" style="width:1.54%;"> $</td> <td valign="top" bgcolor="#CFF0FC" style="width:4.3%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:12pt;;text-indent:-12pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.16</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:69.54%;"> </td> <td valign="top" bgcolor="#CFF0FC" style="width:0.18%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.26%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,000</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.06%;white-space:nowrap;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.06%;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:0.76%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.2</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:0.18%;white-space:nowrap;">  </td> </tr> <tr> <td valign="top" style="width:1.54%;"> $</td> <td valign="top" style="width:4.3%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:12pt;;text-indent:-12pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.25</td> <td valign="bottom" style="width:69.54%;"> </td> <td valign="top" style="width:0.18%;">  </td> <td valign="bottom" style="width:1.26%;">   </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">334,347 </td> <td valign="bottom" style="width:1.06%;white-space:nowrap;">   </td> <td valign="bottom" style="width:1.06%;">   </td> <td valign="bottom" style="width:0.76%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.9</td> <td valign="bottom" style="width:0.18%;white-space:nowrap;">  </td> </tr> <tr> <td valign="top" bgcolor="#CFF0FC" style="width:1.54%;"> $</td> <td valign="top" bgcolor="#CFF0FC" style="width:4.3%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:12pt;;text-indent:-12pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.12</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:69.54%;"> </td> <td valign="top" bgcolor="#CFF0FC" style="width:0.18%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.26%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">75,000</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.06%;white-space:nowrap;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.06%;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:0.76%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.2</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:0.18%;white-space:nowrap;">  </td> </tr> <tr> <td valign="top" style="width:1.54%; border-bottom:solid 0.75pt transparent;"> $</td> <td valign="top" style="width:4.3%; border-bottom:solid 0.75pt transparent;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:12pt;;text-indent:-12pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.83</td> <td valign="bottom" style="width:69.54%; border-bottom:solid 0.75pt transparent;"> </td> <td valign="top" style="width:0.18%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:1.26%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">277,284</td> <td valign="bottom" style="width:1.06%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">   </td> <td valign="bottom" style="width:1.06%; border-bottom:solid 0.75pt transparent;">   </td> <td valign="bottom" style="width:0.76%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt transparent;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.2</td> <td valign="bottom" style="width:0.18%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> </tr> <tr> <td colspan="3" valign="top" bgcolor="#CFF0FC" style="width:75.36%; border-bottom:double 2.5pt transparent;"> Total warrants outstanding</td> <td valign="top" bgcolor="#CFF0FC" style="width:0.18%; border-bottom:double 2.5pt transparent;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.26%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,490,589 </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.06%; border-bottom:double 2.5pt transparent;white-space:nowrap;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.06%; border-bottom:double 2.5pt transparent;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:0.76%; border-bottom:double 2.5pt transparent;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-bottom:double 2.5pt transparent;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:0.18%; border-bottom:double 2.5pt transparent;white-space:nowrap;">  </td> </tr> </table></div>  </div>

<div> As of September 30, 2014, future minimum lease payments due in fiscal years under capitalized leases are as follows:   <div> <table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:68%;"> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:88%;"> 2015 </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">228,420</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:88%;"> 2016 </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">228,420</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:88%;"> 2017 </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">228,420</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:88%;"> 2018 </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">228,420</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:88%;"> 2019 </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">95,175</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:88%;"> 2020 and thereafter</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:88%; border-bottom:solid 0.75pt transparent;"> Less interest</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:solid 0.75pt #000000;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(36,524)</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:88%;"> Principal</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">972,331</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:88%; border-bottom:solid 0.75pt transparent;"> Less current portion</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(213,991 </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">)</td> </tr> <tr> <td valign="bottom" style="width:88%; border-bottom:double 2.5pt transparent;"> Noncurrent portion</td> <td valign="bottom" style="width:1%; border-bottom:double 2.5pt #000000;"> $</td> <td valign="bottom" style="width:10%; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">758,340</td> <td valign="bottom" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;">  </td> </tr> </table></div>  </div>

<div> As of September 30, 2014, future minimum lease payments due in fiscal years under operating leases are as follows:   <div> <table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:68%;"> <tr> <td valign="top" bgcolor="#CFF0FC" style="width:88%;"> 2015 </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">580,306</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="top" style="width:88%;"> 2016 </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">596,877</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="top" bgcolor="#CFF0FC" style="width:88%;"> 2017 </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">613,664</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="top" style="width:88%;"> 2018 </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">637,897</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="top" bgcolor="#CFF0FC" style="width:88%;"> 2019 </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">459,633</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="top" style="width:88%; border-bottom:solid 0.75pt transparent;"> 2020 and thereafter</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">- </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> </tr> <tr> <td valign="top" bgcolor="#CFF0FC" style="width:88%; border-bottom:double 2.5pt transparent;"> Total</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt #000000;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2,888,377</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;">  </td> </tr> </table></div>  </div>

<div>   <div> <table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:92%;"> <tr> <td valign="bottom" style="width:41%;">  </td> <td colspan="2" valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:1%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Number of Options Outstanding</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">  </td> <td colspan="2" valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:1%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Weighted- Average Exercise Price Per Share</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">   </td> <td colspan="2" valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:1%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Weighted- Average Remaining Contractual Term</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">   </td> <td colspan="2" valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:1%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Aggregate Intrinsic Value</td> <td valign="bottom" style="width:1%;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:41%;"> Balance At September 30, 2012</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,910,794</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">6.10</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> </tr> <tr> <td valign="bottom" style="width:41%;"> Granted</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,509,166</td> <td valign="bottom" style="width:1%;white-space:nowrap;">   </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.03</td> <td valign="bottom" style="width:1%;white-space:nowrap;">   </td> <td valign="bottom" style="width:1%;">   </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;">  </td> <td valign="bottom" style="width:1%;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:41%;"> Cancelled</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> </tr> <tr> <td valign="bottom" style="width:41%; border-bottom:solid 0.75pt transparent;"> Exercised</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(675 </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">) </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.93</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">   </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">   </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="middle" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="middle" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:41%;"> Balance At September 30, 2013</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3,419,285</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.68</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> </tr> <tr> <td valign="bottom" style="width:41%;"> Granted</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,039,000</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">14.05</td> <td valign="bottom" style="width:1%;white-space:nowrap;">   </td> <td valign="bottom" style="width:1%;">   </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;">  </td> <td valign="bottom" style="width:1%;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:41%;"> Cancelled</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(152,582)</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">6.05</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> </tr> <tr> <td valign="bottom" style="width:41%; border-bottom:solid 0.75pt transparent;"> Exercised</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(454,863)</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">6.00</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">   </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">   </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="middle" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="middle" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:41%; border-bottom:double 2.5pt transparent;"> Balance At September 30, 2014</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3,850,840</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">6.99</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt #000000;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">8.1 years</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt #000000;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$31,141,826</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:41%; border-bottom:double 2.5pt transparent;"> Exercisable At September 30, 2014</td> <td valign="bottom" style="width:1%; border-top:double 2.5pt #000000; border-bottom:double 2.5pt #000000;">  </td> <td valign="bottom" style="width:10%; border-top:double 2.5pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,684,919</td> <td valign="bottom" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%; border-bottom:double 2.5pt transparent;">  </td> <td valign="bottom" style="width:1%; border-top:double 2.5pt #000000; border-bottom:double 2.5pt #000000;">  </td> <td valign="bottom" style="width:10%; border-top:double 2.5pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5.94</td> <td valign="bottom" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;">   </td> <td valign="bottom" style="width:1%; border-bottom:double 2.5pt transparent;">   </td> <td valign="bottom" style="width:1%; border-top:double 2.5pt #000000; border-bottom:double 2.5pt #000000;">  </td> <td valign="bottom" style="width:10%; border-top:double 2.5pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">7.2 years</td> <td valign="bottom" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%; border-bottom:double 2.5pt transparent;">  </td> <td valign="bottom" style="width:1%; border-top:double 2.5pt #000000; border-bottom:double 2.5pt #000000;">  </td> <td valign="bottom" style="width:10%; border-top:double 2.5pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$15,518,772</td> <td valign="bottom" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;">  </td> </tr> </table></div>  </div>

<div> The assumptions used to value stock options are as follows:   <div> <table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:60%;"> <tr> <td valign="bottom" style="width:27%;">  </td> <td valign="top" style="width:1%;">  </td> <td colspan="5" valign="top" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Year ended September 30,</td> </tr> <tr> <td valign="bottom" style="width:27%;">  </td> <td valign="top" style="width:1%;">  </td> <td valign="top" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2014</td> <td valign="top" style="width:1%; border-top:solid 0.75pt #000000;">  </td> <td valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:10%; border-top:solid 0.75pt #000000; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2013 </td> <td valign="bottom" style="width:1%; border-top:solid 0.75pt #000000;">   </td> <td valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:10%; border-top:solid 0.75pt #000000; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2012 </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:27%;"> Dividend yield</td> <td valign="top" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-top:solid 0.75pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="top" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> </tr> <tr> <td valign="bottom" style="width:27%;"> Risk-free interest rate</td> <td valign="top" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.8% to 2.4%</td> <td valign="top" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.7% to  2.3%</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.9%  to 1.7%</td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:27%;"> Volatility</td> <td valign="top" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">69%</td> <td valign="top" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">69%</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">90% - 100%</td> </tr> <tr> <td valign="bottom" style="width:27%;"> Expected life (in years)</td> <td valign="top" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">6.25 to 9.47</td> <td valign="top" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5.5 to 6.25</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5.5 to 6.25</td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:27%;"> Weighted average grant date fair value per share of options granted</td> <td valign="top" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$8.92</td> <td valign="top" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$1.88</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$3.32</td> </tr> </table></div>  </div>

<div> The following table summarizes the activity of the Company’s Restricted Stock Units:   <div> <table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:76%;"> <tr> <td valign="bottom" style="width:51%;">  </td> <td colspan="2" valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Number of RSUs</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td colspan="2" valign="bottom" style="width:1%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Weighted- Average Grant Date Fair Value</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:51%;"> Unvested at September 30, 2012</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-top:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">— </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 1pt #000000;"> $</td> <td valign="top" bgcolor="#CFF0FC" style="width:10%; border-top:solid 1pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:51%;"> Granted</td> <td valign="bottom" style="width:1%;">  </td> <td valign="top" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="top" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:51%;"> Vested</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="top" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="top" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:51%; border-bottom:solid 0.75pt transparent;"> Forfeited</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="top" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="top" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:51%; border-bottom:solid 0.75pt transparent;"> Unvested at September 30, 2013</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;">  </td> <td valign="top" bgcolor="#CFF0FC" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:51%;"> Granted</td> <td valign="bottom" style="width:1%; border-top:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:10%; border-top:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">510,000</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%; border-top:solid 0.75pt #000000;"> $ </td> <td valign="bottom" style="width:10%; border-top:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">14.58</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:51%;"> Vested</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="top" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="top" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:51%; border-bottom:solid 0.75pt transparent;"> Forfeited</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="top" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="top" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:51%; border-bottom:double 2.5pt transparent;"> Unvested at September 30, 2014</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">510,000</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt #000000;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">14.58</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;">  </td> </tr> </table></div>  </div>

<div> The following table summarizes fair value measurements at September 30, 2014 and September 30, 2013 for assets and liabilities measured at fair value on a recurring basis: September 30, 2014:   <div> <table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:92%;"> <tr> <td valign="bottom" style="width:41%;">  </td> <td colspan="2" valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:1%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Level 1</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">   </td> <td colspan="2" valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:1%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Level 2</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">   </td> <td colspan="2" valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:1%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Level 3</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">   </td> <td colspan="2" valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:1%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Total</td> <td valign="bottom" style="width:1%;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:41%;"> Cash and cash equivalents</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">132,510,610</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">132,510,610</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:41%;"> Derivative liabilities</td> <td valign="bottom" style="width:1%;"> $</td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%;white-space:nowrap;">   </td> <td valign="bottom" style="width:1%;">   </td> <td valign="bottom" style="width:1%;"> $</td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%;white-space:nowrap;">   </td> <td valign="bottom" style="width:1%;">   </td> <td valign="bottom" style="width:1%;"> $</td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4,173,943</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;"> $</td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4,173,943</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:41%;"> Contingent consideration obligations related to acquisitions</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3,970,931</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3,970,931</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> </table></div>    September 30, 2013:   <div> <table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:92%;"> <tr> <td valign="bottom" style="width:41%;">  </td> <td colspan="2" valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:1%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Level 1</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">   </td> <td colspan="2" valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:1%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Level 2</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">   </td> <td colspan="2" valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:1%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Level 3</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">   </td> <td colspan="2" valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:1%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Total</td> <td valign="bottom" style="width:1%;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:41%;"> Cash and cash equivalents</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">19,114,444</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">19,114,444</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:41%;"> Derivative liabilities</td> <td valign="bottom" style="width:1%;"> $</td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%;white-space:nowrap;">   </td> <td valign="bottom" style="width:1%;">   </td> <td valign="bottom" style="width:1%;"> $</td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%;white-space:nowrap;">   </td> <td valign="bottom" style="width:1%;">   </td> <td valign="bottom" style="width:1%;"> $</td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4,096,363</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;"> $</td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4,096,363</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:41%;"> Contingent consideration obligations related to acquisitions</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,595,273</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,595,273</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> </table></div>  </div>

<div> The assumptions used in valuing the derivative liability as of September 30, 2014 and 2013 were as follows:   <div> <table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:66%;"> <tr> <td valign="bottom" style="width:33%;"> 2010 Warrants</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">September 30, 2014</td> <td valign="bottom" style="width:1%;white-space:nowrap;">   </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">September 30, 2013</td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:33%;"> Risk free interest rate</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.13%</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.33%</td> </tr> <tr> <td valign="bottom" style="width:33%;"> Expected life</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:36pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.2 Years</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.2 Years</td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:33%;"> Dividend yield</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">None</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">None</td> </tr> <tr> <td valign="bottom" style="width:33%;"> Volatility</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">69%</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">69%</td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:33%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:15%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:15%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </td> </tr> <tr> <td valign="bottom" style="width:33%;"> 2012 Warrants</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">September 30, 2014</td> <td valign="bottom" style="width:1%;white-space:nowrap;">   </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">September 30, 2013</td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:33%;"> Risk free interest rate</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.07%</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.39%</td> </tr> <tr> <td valign="bottom" style="width:33%;"> Expected life</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:36pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.2 Years</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.2 Years</td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:33%;"> Dividend yield</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">None</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">None</td> </tr> <tr> <td valign="bottom" style="width:33%;"> Volatility</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">69%</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">69%</td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:33%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:15%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:15%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </td> </tr> <tr> <td valign="bottom" style="width:33%;"> 2013 Warrants</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">September 30, 2014</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">September 30, 2013</td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:33%;"> Risk free interest rate</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.07%</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.39%</td> </tr> <tr> <td valign="bottom" style="width:33%;"> Expected life</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:36pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.3 Years</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.3 Years</td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:33%;"> Dividend yield</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">None</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">None</td> </tr> <tr> <td valign="bottom" style="width:33%;"> Volatility</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">69%</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:15%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">69%</td> </tr> </table></div>   </div>

<div> The following is a reconciliation of the derivative liability related to these warrants for the years ended September 30, 2014 and 2013:   <div> <table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:68%;"> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:54%;"> Value at September 30, 2012</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:12%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">626,195</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:54%;"> Issuance of instruments</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:12%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2,153,819</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:54%;"> Change in value</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:12%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5,066,591</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:54%; border-bottom:solid 0.75pt transparent;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:12pt;;text-indent:-12pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Net settlements</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:12%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(3,754,808 </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;"> )</td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:54%;"> Value at September 30, 2013</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:12%; border-top:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4,091,797</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:54%;"> Issuance of instruments</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:12%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:54%;"> Change in value</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:12%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5,821,796</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:54%; border-bottom:solid 0.75pt transparent;"> Net settlements</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:12%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(5,956,079) </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:54%; border-bottom:double 2.5pt transparent;"> Value at September 30, 2014</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:12%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3,957,514</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;">  </td> </tr> </table></div>  </div>

<div> The assumptions used in valuing the derivative liability as of September 30, 2014 and 2013 were as follows:   <div> <table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:76%;"> <tr> <td valign="bottom" style="width:55%;">  </td> <td valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:10%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">September 30,  2014</td> <td valign="bottom" style="width:1%;">   </td> <td valign="bottom" style="padding-left:0.7pt;padding-Right:0.7pt;padding-Top:0pt;padding-Bottom:0pt;width:10%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">September 30,  2013</td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:55%;"> Risk free interest rate</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.07%</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.39%</td> </tr> <tr> <td valign="bottom" style="width:55%;"> Expected life</td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.3 Years</td> <td valign="bottom" style="width:1%;">   </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.3 Years</td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:55%;"> Dividend yield</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">None</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">   </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">None</td> </tr> <tr> <td valign="bottom" style="width:55%;"> Volatility</td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">100%</td> <td valign="bottom" style="width:1%;">   </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">100%</td> </tr> </table></div>  </div>

<div> The following is a reconciliation of contingent consideration fair value during the years ended September 30, 2014 and 2013.   <div> <table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:68%;"> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:54%;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:12.25pt;;text-indent:-12.25pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Value at September 30, 2012</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:12%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">173,621</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:54%;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:12.25pt;;text-indent:-12.25pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Purchase price contingent consideration</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:12%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:54%;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:12.25pt;;text-indent:-12.25pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Contingent consideration payments</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:12%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:54%; border-bottom:solid 0.75pt transparent;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:12.25pt;;text-indent:-12.25pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Change in fair value of contingent consideration</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:12%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,421,652</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:54%;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:12.25pt;;text-indent:-12.25pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Value at September 30, 2013</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-top:solid 0.75pt #000000;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:12%; border-top:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,595,273</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:54%;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:12.25pt;;text-indent:-12.25pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Purchase price contingent consideration</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:12%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:54%;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:12.25pt;;text-indent:-12.25pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Contingent consideration payments</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:12%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:54%; border-bottom:solid 0.75pt transparent;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:12.25pt;;text-indent:-12.25pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Change in fair value of contingent consideration</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:12%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2,375,658</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" bgcolor="#CFF0FC" style="width:54%; border-bottom:double 2.5pt transparent;"> Value at September 30, 2014</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt #000000;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:12%; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3,970,931</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;">  </td> </tr> </table></div>  </div>

<div> Components of the net deferred tax asset (liability) at September 30, 2014 and 2013 are as follows:   <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:92%;"> <tr> <td valign="bottom" style="width:67%;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:7.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2014</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">  </td> <td colspan="2" valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:7.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2013</td> <td valign="bottom" style="width:1%;">  </td> </tr> <tr> <td valign="top" bgcolor="#CCEEFF" style="width:67%;"> Deferred tax assets:</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%; border-top:solid 0.75pt #000000;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> </tr> <tr> <td valign="top" style="width:67%;"> Reserve for other receivables</td> <td valign="bottom" style="width:1%;"> $</td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">233,014</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;"> $</td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,026,010</td> <td valign="bottom" style="width:1%;">  </td> </tr> <tr> <td valign="top" bgcolor="#CCEEFF" style="width:67%;"> Accrued compensation</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,313,354</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">159,015</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> </tr> <tr> <td valign="top" style="width:67%;"> Stock compensation</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> 3,011,369</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,269,020</td> <td valign="bottom" style="width:1%;">  </td> </tr> <tr> <td valign="top" bgcolor="#CCEEFF" style="width:67%;"> Capitalized research and development</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> 13,536,745</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3,985,025</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> </tr> <tr> <td valign="top" style="width:67%;"> Fair value adjustments</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> 1,864,364</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">749,030</td> <td valign="bottom" style="width:1%;">  </td> </tr> <tr> <td valign="top" bgcolor="#CCECFF" style="width:67%; border-bottom:solid 0.75pt transparent;"> Net operating losses</td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" bgcolor="#CCECFF" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">42,268,526</td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" bgcolor="#CCECFF" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">52,133,035</td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> </tr> <tr> <td valign="bottom" style="width:67%;"> Total deferred tax assets</td> <td valign="bottom" style="width:1%; border-top:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:10%; border-top:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">62,227,372</td> <td valign="bottom" style="width:1%;">  </td> <td valign="middle" style="width:1%;">  </td> <td valign="bottom" style="width:1%; border-top:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:10%; border-top:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">59,321,135</td> <td valign="bottom" style="width:1%;">  </td> </tr> <tr> <td valign="top" bgcolor="#CCECFF" style="width:67%;"> Valuation allowance</td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCECFF" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(55,224,802</td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%;"> )</td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCECFF" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(52,214,090</td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%;"> )</td> </tr> <tr> <td valign="top" style="width:67%;"> Deferred tax liabilities:</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;">  </td> <td valign="bottom" style="width:1%;">  </td> </tr> <tr> <td valign="top" bgcolor="#CCEEFF" style="width:67%;"> State taxes</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(6,277,587</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;"> )</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(5,042,010</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;"> )</td> </tr> <tr> <td valign="top" style="width:67%;"> Equity investments</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(7,675</td> <td valign="bottom" style="width:1%;"> )</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%;">  </td> </tr> <tr> <td valign="top" bgcolor="#CCEEFF" style="width:67%;"> Intangible assets</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(475,829</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;"> )</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(1,521,015</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;"> )</td> </tr> <tr> <td valign="top" style="width:67%; border-bottom:solid 0.75pt transparent;"> Fixed assets</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(241,479</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;"> )</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(544,020</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;"> )</td> </tr> <tr style="height:6.75pt;"> <td valign="bottom" bgcolor="#CCECFF" style="width:67%; border-bottom:solid 0.75pt transparent;"> Total deferred tax liability</td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" bgcolor="#CCECFF" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(7,002,570</td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%; border-bottom:solid 0.75pt transparent;"> )</td> <td valign="middle" bgcolor="#CCECFF" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" bgcolor="#CCECFF" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(7,107,045</td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%; border-bottom:solid 0.75pt transparent;"> <p style="border-top:Solid 0.75pt #000000;padding-top:0pt;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">)</td> </tr> <tr style="height:6.75pt;"> <td valign="bottom" style="width:67%; border-bottom:double 2.5pt transparent;"> Net deferred tax assets</td> <td valign="bottom" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> $</td> <td valign="bottom" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%; border-bottom:double 2.5pt transparent;">  </td> <td valign="middle" style="width:1%; border-bottom:double 2.5pt transparent;">  </td> <td valign="bottom" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> $</td> <td valign="bottom" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%; border-bottom:double 2.5pt transparent;">  </td> </tr> </table></div>  </div>

<div> The provision for income taxes for the years ended September 30, 2014 and 2013 are as follows:   <div> <table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:92%;"> <tr> <td valign="bottom" style="width:67%;">  </td> <td colspan="2" valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:7.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2014</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">  </td> <td colspan="2" valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:7.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2013</td> <td valign="bottom" style="width:1%;">  </td> </tr> <tr> <td valign="top" bgcolor="#CCEEFF" style="width:67%;"> Federal:</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> </tr> <tr> <td valign="top" style="width:67%;"> Current</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="top" bgcolor="#CCEEFF" style="width:67%; border-bottom:solid 0.75pt transparent;"> Deferred</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> </tr> <tr> <td valign="bottom" style="width:67%; border-bottom:solid 0.75pt transparent;"> Total Federal</td> <td valign="bottom" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> </tr> <tr> <td valign="top" bgcolor="#CCEEFF" style="width:67%;"> State:</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> </tr> <tr> <td valign="top" style="width:67%;"> Current</td> <td valign="bottom" style="width:1%;white-space:nowrap;"> $</td> <td valign="bottom" style="width:10%;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5,300</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:10%;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> </tr> <tr> <td valign="top" bgcolor="#CCEEFF" style="width:67%; border-bottom:solid 0.75pt transparent;"> Deferred</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> </tr> <tr> <td valign="top" style="width:67%; border-bottom:solid 0.75pt transparent;"> Total State</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;"> $</td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5,300</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> </tr> <tr> <td valign="top" bgcolor="#CCEEFF" style="width:67%; border-bottom:double 2.5pt transparent;"> Provision from income taxes</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> $</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5,300</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%; border-bottom:double 2.5pt transparent;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">—</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;">  </td> </tr> </table></div>  </div>

<div> The Company’s effective income tax rate differs from the statutory federal income tax rate as follows for the years ended September 30, 2014 and 2013:   <div> <table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:92%;"> <tr> <td valign="bottom" style="width:67%;">  </td> <td valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:7.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2014</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;">  </td> <td colspan="2" valign="bottom" style="width:1%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:7.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2013</td> <td valign="bottom" style="width:1%;">  </td> </tr> <tr> <td valign="top" bgcolor="#CCEEFF" style="width:67%;"> At U.S. federal statutory rate</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%; border-top:solid 0.75pt #000000;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%; border-top:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">34.0</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;"> %</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%; border-top:solid 0.75pt #000000;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%; border-top:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">34.0</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;"> %</td> </tr> <tr> <td valign="top" style="width:67%;"> State taxes, net of federal effect</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">7.6</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">10.3</td> <td valign="bottom" style="width:1%;">  </td> </tr> <tr> <td valign="top" bgcolor="#CCEEFF" style="width:67%;"> Stock compensation</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(0.1</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;"> )</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(1.1</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1%;"> )</td> </tr> <tr> <td valign="top" style="width:67%;"> Mark-to-market adjustments</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(3.5</td> <td valign="bottom" style="width:1%;"> )</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(5.8</td> <td valign="bottom" style="width:1%;">  </td> </tr> <tr> <td valign="top" bgcolor="#CCECFF" style="width:67%;"> Other permanent items</td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCECFF" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(0.1</td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%;"> )</td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%;">  </td> <td valign="bottom" bgcolor="#CCECFF" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(0.0</td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%;"> )</td> </tr> <tr> <td valign="top" style="width:67%;"> Valuation allowance</td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(5.2</td> <td valign="bottom" style="width:1%;"> )</td> <td valign="bottom" style="width:1%;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%;">  </td> <td valign="bottom" style="width:10%;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(37.4</td> <td valign="bottom" style="width:1%;"> )</td> </tr> <tr> <td valign="top" bgcolor="#CCECFF" style="width:67%; border-bottom:solid 0.75pt transparent;"> Write-off of net operating losses</td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" bgcolor="#CCECFF" style="width:10%; border-bottom:solid 0.75pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(32.7</td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%; border-bottom:solid 0.75pt transparent;"> )</td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;">  </td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%; border-bottom:solid 0.75pt #000000;">  </td> <td valign="bottom" bgcolor="#CCECFF" style="width:10%; border-bottom:solid 0.75pt #000000;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(0.0</td> <td valign="bottom" bgcolor="#CCECFF" style="width:1%; border-bottom:solid 0.75pt #000000;"> )</td> </tr> <tr> <td valign="top" style="width:67%; border-bottom:double 2.5pt transparent;"> Effective income tax rate</td> <td valign="bottom" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;">  </td> <td valign="bottom" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.0</td> <td valign="bottom" style="width:1%; border-bottom:double 2.5pt transparent;"> %</td> <td valign="bottom" style="width:1%; border-bottom:double 2.5pt transparent;white-space:nowrap;">  </td> <td valign="bottom" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;">  </td> <td valign="bottom" style="width:10%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.0</td> <td valign="bottom" style="width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;"> %</td> </tr> </table></div>  </div>

<div> The following table presents selected unaudited quarterly financial data for each full quarterly period of the years ended September 30, 2014 and 2013:   <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="bottom" style="width:41%;">   </td> <td valign="bottom" style="width:2.42%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:1pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"> </td> <td colspan="2" valign="bottom" style="width:12.32%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">First</td> <td valign="bottom" style="width:2.46%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:1pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"> </td> <td colspan="2" valign="bottom" style="width:11.14%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Second</td> <td valign="bottom" style="width:3.32%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:1pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"> </td> <td colspan="2" valign="bottom" style="width:11.96%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Third</td> <td valign="bottom" style="width:2.48%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:1pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"> </td> <td colspan="2" valign="bottom" style="width:11.96%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Fourth</td> <td valign="bottom" style="width:0.96%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:1pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"> </td> </tr> <tr> <td valign="bottom" style="width:41%; border-bottom:solid 1pt #000000;"> Year ended September 30, 2014</td> <td valign="bottom" style="width:2.42%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:1pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"> </td> <td colspan="2" valign="bottom" style="width:12.32%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Quarter</td> <td valign="bottom" style="width:2.46%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:1pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"> </td> <td colspan="2" valign="bottom" style="width:11.14%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Quarter</td> <td valign="bottom" style="width:3.32%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:1pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"> </td> <td colspan="2" valign="bottom" style="width:11.96%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Quarter</td> <td valign="bottom" style="width:2.48%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:1pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"> </td> <td colspan="2" valign="bottom" style="width:11.96%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Quarter</td> <td valign="bottom" style="width:0.96%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:1pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"> </td> </tr> <tr> <td valign="middle" bgcolor="#CCEEFF" style="width:41%;"> Revenues</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:2.42%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1.28%;"> $</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:11.04%; border-top:solid 1pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">43,750</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:2.46%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1.28%;"> $</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:9.86%; border-top:solid 1pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">43,750</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:3.32%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1.28%;"> $</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10.68%; border-top:solid 1pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">43,750</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:2.48%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1.28%;"> $</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10.68%; border-top:solid 1pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">43,750</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:0.96%;">  </td> </tr> <tr> <td valign="middle" style="width:41%;"> Operating Losses </td> <td valign="bottom" style="width:2.42%;">  </td> <td valign="bottom" style="width:1.28%;"> $</td> <td valign="bottom" style="width:11.04%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(7,009,382)</td> <td valign="bottom" style="width:2.46%;">  </td> <td valign="bottom" style="width:1.28%;"> $</td> <td valign="bottom" style="width:9.86%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(11,212,498)</td> <td valign="bottom" style="width:3.32%;">  </td> <td valign="bottom" style="width:1.28%;"> $</td> <td valign="bottom" style="width:10.68%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(12,700,100)</td> <td valign="bottom" style="width:2.48%;">  </td> <td valign="bottom" style="width:1.28%;"> $</td> <td valign="bottom" style="width:10.68%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(22,354,306)</td> <td valign="bottom" style="width:0.96%;">  </td> </tr> <tr> <td valign="middle" bgcolor="#CCEEFF" style="width:41%;"> Net Loss </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:2.42%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1.28%;"> $</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:11.04%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(10,685,372)</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:2.46%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1.28%;"> $</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:9.86%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(13,982,700)</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:3.32%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1.28%;"> $</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10.68%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(11,626,451)</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:2.48%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1.28%;"> $</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10.68%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(22,430,889)</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:0.96%;">  </td> </tr> <tr> <td valign="middle" style="width:41%;"> Net Loss Attributable to Arrowhead</td> <td valign="bottom" style="width:2.42%;">  </td> <td valign="bottom" style="width:1.28%;"> $</td> <td valign="bottom" style="width:11.04%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(10,628,312)</td> <td valign="bottom" style="width:2.46%;">  </td> <td valign="bottom" style="width:1.28%;"> $</td> <td valign="bottom" style="width:9.86%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(13,942,521)</td> <td valign="bottom" style="width:3.32%;">  </td> <td valign="bottom" style="width:1.28%;"> $</td> <td valign="bottom" style="width:10.68%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(11,626,919)</td> <td valign="bottom" style="width:2.48%;">  </td> <td valign="bottom" style="width:1.28%;"> $</td> <td valign="bottom" style="width:10.68%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(22,432,438)</td> <td valign="bottom" style="width:0.96%;">  </td> </tr> <tr> <td valign="middle" bgcolor="#CFF0FC" style="width:41%;"> Loss per share (Basic and Diluted)</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:2.42%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.28%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:11.04%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(0.28)</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:2.46%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.28%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:9.86%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(0.31)</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:3.32%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.28%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10.68%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(0.22)</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:2.48%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.28%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10.68%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(0.42)</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:0.96%;">  </td> </tr> </table></div>   <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="bottom" style="width:41%;">  </td> <td valign="bottom" style="width:2.46%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:1pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"> </td> <td colspan="2" valign="bottom" style="width:12%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">First</td> <td valign="bottom" style="width:2.5%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:1pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"> </td> <td colspan="2" valign="bottom" style="width:11.18%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Second</td> <td valign="bottom" style="width:3.34%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:1pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"> </td> <td colspan="2" valign="bottom" style="width:12%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Third</td> <td valign="bottom" style="width:2.5%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:1pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"> </td> <td colspan="2" valign="bottom" style="width:12%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Fourth</td> <td valign="bottom" style="width:0.98%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:1pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"> </td> </tr> <tr> <td valign="bottom" style="width:41%; border-bottom:solid 1pt #000000;"> Year ended September 30, 2013</td> <td valign="bottom" style="width:2.46%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:1pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"> </td> <td colspan="2" valign="bottom" style="width:12%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Quarter</td> <td valign="bottom" style="width:2.5%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:1pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"> </td> <td colspan="2" valign="bottom" style="width:11.18%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Quarter</td> <td valign="bottom" style="width:3.34%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:1pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"> </td> <td colspan="2" valign="bottom" style="width:12%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Quarter</td> <td valign="bottom" style="width:2.5%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:1pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"> </td> <td colspan="2" valign="bottom" style="width:12%; border-bottom:solid 1pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Quarter</td> <td valign="bottom" style="width:0.98%;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:1pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"> </td> </tr> <tr> <td valign="middle" bgcolor="#CCEEFF" style="width:41%;"> Revenues</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:2.46%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1.3%;"> $</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10.7%; border-top:solid 1pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">159,016</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:2.5%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1.3%;"> $</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:9.88%; border-top:solid 1pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">43,750</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:3.34%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1.3%;"> $</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10.7%; border-top:solid 1pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">43,750</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:2.5%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1.3%;"> $</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10.7%; border-top:solid 1pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">43,750</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:0.98%;">  </td> </tr> <tr> <td valign="middle" style="width:41%;"> Operating Losses </td> <td valign="bottom" style="width:2.46%;">  </td> <td valign="bottom" style="width:1.3%;"> $</td> <td valign="bottom" style="width:10.7%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(4,810,021)</td> <td valign="bottom" style="width:2.5%;">  </td> <td valign="bottom" style="width:1.3%;"> $</td> <td valign="bottom" style="width:9.88%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(5,390,288)</td> <td valign="bottom" style="width:3.34%;">  </td> <td valign="bottom" style="width:1.3%;"> $</td> <td valign="bottom" style="width:10.7%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(6,389,865)</td> <td valign="bottom" style="width:2.5%;">  </td> <td valign="bottom" style="width:1.3%;"> $</td> <td valign="bottom" style="width:10.7%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(7,999,102)</td> <td valign="bottom" style="width:0.98%;">  </td> </tr> <tr> <td valign="middle" bgcolor="#CCEEFF" style="width:41%;"> Net Loss </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:2.46%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1.3%;"> $</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10.7%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(4,780,727)</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:2.5%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1.3%;"> $</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:9.88%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(6,940,019)</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:3.34%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1.3%;"> $</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10.7%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(6,177,628)</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:2.5%;">  </td> <td valign="bottom" bgcolor="#CCEEFF" style="width:1.3%;"> $</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:10.7%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(13,805,059)</td> <td valign="bottom" bgcolor="#CCEEFF" style="width:0.98%;">  </td> </tr> <tr> <td valign="middle" style="width:41%;"> Net Loss Attributable to Arrowhead</td> <td valign="bottom" style="width:2.46%;">  </td> <td valign="bottom" style="width:1.3%;"> $</td> <td valign="bottom" style="width:10.7%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(4,614,159)</td> <td valign="bottom" style="width:2.5%;">  </td> <td valign="bottom" style="width:1.3%;"> $</td> <td valign="bottom" style="width:9.88%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(6,757,937)</td> <td valign="bottom" style="width:3.34%;">  </td> <td valign="bottom" style="width:1.3%;"> $</td> <td valign="bottom" style="width:10.7%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(6,079,010)</td> <td valign="bottom" style="width:2.5%;">  </td> <td valign="bottom" style="width:1.3%;"> $</td> <td valign="bottom" style="width:10.7%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(13,692,183)</td> <td valign="bottom" style="width:0.98%;">  </td> </tr> <tr> <td valign="middle" bgcolor="#CFF0FC" style="width:41%;"> Loss per share (Basic and Diluted)</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:2.46%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.3%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10.7%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(0.33)</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:2.5%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.3%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:9.88%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(0.41)</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:3.34%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.3%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10.7%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(0.23)</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:2.5%;">  </td> <td valign="bottom" bgcolor="#CFF0FC" style="width:1.3%;"> $</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:10.7%;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(0.43)</td> <td valign="bottom" bgcolor="#CFF0FC" style="width:0.98%;">  </td> </tr> </table></div>  </div>

less than 2 years

44700000

34800000

250000

P3Y

P7Y

334162

323376

4614176 3452013

69623

3045022

2749409

8062983

6594421

4190230

3081186

189830

217693

407523

21463202

22870653

44333855

44741378

7500

39281

2362

41643

8998480

1699791

10698271

10732414

50000 1288158 P90D 0.03 later of (i) the expiration of the last to expire patent right related to such product candidate that was transferred in the Transaction and (ii) ten years after the first commercial sale of such product candidate.

2500000

6000000

84935

2172387

1300000

P4Y

P3Y

P20Y

P12Y

55000

13000

54653

236009

293964

161500

3117322

944935

1667247

1308047

123191

68538

4784569

1.00

2900000

1300000 1600000 0.64 0.64

87000

4500000 0.08 0.79 0.76

150000000

7165174

0.0999

1256831

2730375

2300

16000

1015

0.001

1000

1015000

1015

275782

0.001

675000

3.70

2497500

2260869

2.76

Each unit consisted of one share of Common Stock and a warrant to purchase 0.75 3.25

6200000

1825079

2.26

4100000

1.83

Each unit consisted of one share of Common Stock and a warrant to purchase 0.5

1667051

2.12

3500000

Each unit consisted of one share of Common Stock and a warrant to purchase 0.5

14300000

1.83

9900

1000

1.83

36000000

3071672

5.86

46000

1000

5.86 64000000

60000000

6325000

18.95

112600000

0.1

70.60

5.00

5.09

1.38

4.16

3.25

2.12

1.83

94897

413825

269912

24324

1000

334347

75000

277284

1490589

P2Y7M6D P10M24D P2M12D P1Y2M12D P2Y2M12D P1Y10M24D P3Y2M12D P3Y2M12D

23000

2019-09-30

0.03

2019-02-28

25000

16000

15000

19000 75000 554000 534000 480000

228420

95175

36524

972331

580306

596877

613664

637897

459633

2888377

21400000

19500000

1900000

38000

2659852

4000000

467322

38000

2563518

1292000

1324000

185000 40000

1910794

1509166

675

3419285

1039000

152582

454863

3850840

1684919

6.10

2.03

3.93

4.68

14.05

6.05

6.00

6.99

5.94

P8Y1M6D

P7Y2M12D

31141826

15518772

3144776

1536271

1241404

9267048 2843575 4091117

4360850

554

10517380

P3Y1M6D

0.00

0.018

0.007

0.009

0.024

0.023

0.017

0.90

1.00

0.69

P6Y3M

P5Y6M

P9Y5M19D

P6Y3M

8.92

1.88

3.32

0.00

510000

470000

510000

14.58

2551397

4913516

P1Y6M

132510610

4173943

3970931

19114444

4096363

1595273

329649 912543 833530

-5821796

24324

265161

12123

0.0013

0.0033

P1Y2M12D

P2Y2M12D

0.69

0.0107

0.0139

P3Y2M12D

P4Y2M12D

0.69

0.0107

0.0139

P3Y3M18D

P4Y3M18D

0.69

626195

2153819

5066591

3754808

4091797

5821796

5956079

3957514

-211860

P7Y 0.06 0.04 0.03 0.02 0.01 675000

0.0107

0.0139

P3Y3M18D

P4Y3M18D

1.00

10375

-5806

4569

211860

216429

173621

0 0 -1421652 0 0 -2375658

233014

1026010

1313354

159015

3011369

1269020

13536745

3985025

1864364 749030

42268526

52133035

62227372

59321135

-55224802

-52214090

-6277587 -5042010 -7675

-475829

-1521015

-241479

-544020

-7002570

-7107045

1.00

24200000

64100000

37900000

80000000

5300

0.340

0.076

0.103

0.001

0.011

0.035 0.058

0.001

0.000

0.052

0.374

0.327 0.000

0.000

1.00

0.03

0.50

0.02

264193000

191947000

162495000

43750

-7009382

-11212498

-12700100

-22354306

-10685372

-13982700

-11626451

-22430889

-10628312

-13942521

-11626919

-22432438

-0.28

-0.31

-0.22

-0.42

159016

43750

-4810021

-5390288

-6389865

-7999102

-4780727

-6940019

-6177628

-13805059

-4614159

-6757937

-6079010

-13692183

-0.33

-0.41

-0.23

-0.43