Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v2.4.0.8
Consolidated Balance Sheets (USD $)
Sep. 30, 2013
Sep. 30, 2012
ASSETS    
Cash $ 8,922,430 $ 5,295,462
Accounts receivable, net of allowance for doubtful accounts of $13,180 for 2013 and $41,625 for 2012 2,362,165 7,268,917
Income tax receivable 78,440 27,369
Inventory, net 2,459,417 1,458,199
Prepaid expenses and other current assets 514,213 624,268
Deferred income taxes 2,552,000 2,152,000
TOTAL CURRENT ASSETS 16,888,665 16,826,215
Other assets 138,458 122,336
PLANT AND EQUIPMENT    
Equipment, furniture and fixtures 4,497,854 3,969,888
Leasehold improvements 323,147 322,814
Construction in progress   268,765
Less accumulated depreciation and amortization (2,726,171) (2,211,591)
Plant and equipment, net 2,094,830 2,349,876
Deferred income taxes 16,048,000 11,148,000
TOTAL ASSETS 35,169,953 30,446,427
LIABILITIES AND STOCKHOLDERS' EQUITY    
Accounts payable 904,049 1,775,327
Accrued expenses and other current liabilities 1,540,457 1,120,302
Accrued compensation 962,693 2,964,812
TOTAL CURRENT LIABILITIES 3,407,199 5,860,441
LONG-TERM LIABILITIES    
Deferred rent 66,799 90,902
Deferred grant income 57,819 82,650
Deferred income taxes 235,179 194,244
TOTAL LIABILITIES 3,766,996 6,228,237
Commitments and Contingencies      
STOCKHOLDERS' EQUITY:    
Preferred Stock; no shares issued and outstanding in 2013 or 2012. 0 0
Common Stock, par value $.01 per share; authorized 38,500,000 shares; issued 30,694,843 and 30,550,030 shares, and 28,680,389 and 28,591,201 shares outstanding in 2013 and 2012, respectively. 306,948 305,500
Additional paid-in-capital 67,460,478 66,760,907
Accumulated other comprehensive loss (581,519) (581,519)
Accumulated deficit (28,715,040) (35,594,455)
Treasury stock, at cost (7,067,910) (6,672,243)
TOTAL STOCKHOLDERS' EQUITY 31,402,957 24,218,190
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 35,169,953 $ 30,446,427