Attached files

file filename
10-K - FORM 10-K - TRIMEDYNE INCtmed_10k-093012.htm
EX-32.1 - CERTIFICATION - TRIMEDYNE INCtmed_10k-ex3201.htm
EX-32.2 - CERTIFICATION - TRIMEDYNE INCtmed_10k-ex3202.htm
EX-31.2 - CERTIFICATION - TRIMEDYNE INCtmed_10k-ex3102.htm
EX-31.1 - CERTIFICATION - TRIMEDYNE INCtmed_10k-ex3101.htm
EXCEL - IDEA: XBRL DOCUMENT - TRIMEDYNE INCFinancial_Report.xls
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR2.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR8.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR1.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR5.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR3.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR4.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR7.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR9.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR6.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR41.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR18.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR53.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR54.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR47.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR19.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR16.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR17.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR52.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR33.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR37.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR34.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR51.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR49.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR12.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR21.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR38.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR15.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR22.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR14.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR45.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR44.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR25.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR42.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR39.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR32.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR48.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR10.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR36.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR40.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR55.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR46.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR35.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR28.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR20.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR24.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR23.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR30.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR27.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR13.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR31.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR26.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR29.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR43.htm
XML - IDEA: XBRL DOCUMENT - TRIMEDYNE INCR50.htm
v2.4.0.6
5. Warrant Liability
12 Months Ended
Sep. 30, 2012
Derivative Instruments and Hedges, Assets [Abstract]  
Note 5 - Warrant Liability

Effective October 1, 2009 we adopted the provisions of EITF 07-5, "Determining Whether an Instrument (or Embedded Feature) is Indexed to an Entity's Own Stock" ("EITF 07-5"), which has been codified into ASC 815. EITF 07-5 applies to any freestanding financial instruments or embedded features that have the characteristics of a derivative, as defined by SFAS No. 133, "Accounting for Derivative Instruments and Hedging Activities," and to any freestanding financial instruments that are potentially settled in an entity's own common stock. Both standards were codified into ASC 815. As a result of adopting EITF 07-5, 212,000 of our issued and outstanding common stock purchase warrants previously treated as equity pursuant to the derivative treatment exemption were no longer afforded equity treatment. These warrants had an exercise price of $1.14 and expired in January 2012. As such, effective October 1, 2009 we reclassified the fair value of these common stock purchase warrants, which have exercise price reset features, from equity to liability status as if these warrants were treated as a derivative liability since their date of issue in January 2007. On October 1, 2009, we reclassified from additional paid-in capital, as a cumulative effect adjustment, $204,000 to beginning retained earnings and $35,000 to a long-term warrant liability to recognize the fair value of such warrants on such date. The fair value of these common stock purchase warrants declined to $0 as of September 30, 2011 and remained at that value through the date of expiration. As such, we recognized a gain of approximately $0 and $2,000 from the change in fair value of these warrants during the years ended September 30, 2012 and 2011, respectively.

 

These common stock purchase warrants were initially issued in connection with our January 2007 issuance and sale of 2.65 million shares of common stock. The common stock purchase warrants were not issued with the intent of effectively hedging any future cash flow, fair value of any asset, liability or any net investment in a foreign operation. The warrants did not qualify for hedge accounting, and as such, all future changes in the fair value of these warrants were recognized in earnings until such time as the warrants expired. The warrants expired in January, 2012. These common stock purchase warrants did not trade in an active securities market, and as such, we estimated the fair value of these warrants using the Black-Scholes option pricing model using the following assumptions during the fiscal year September 30, 2011:

 

    September 30,  
    2011  
Annual dividend yield      
Expected life (in years)     .26  
Risk free interest rate     0.27%  
Expected annual volatility     87.2%  

 

Expected volatility is based primarily on historical volatility. Historical volatility was computed using weekly pricing observations for recent periods that correspond to expected remaining life of the warrant. We believed this method produced an estimate that is representative of our expectations of future volatility over the expected term of these warrants. We had no reason to believe future volatility over the expected remaining life of these warrants was likely to differ materially from historical volatility. The expected life was based on the remaining term of the warrants. The risk-free interest rate was based on U.S. Treasury securities.