Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.3.0.814
Consolidated Balance Sheets - USD ($)
Sep. 30, 2015
Sep. 30, 2014
Current Assets:    
Cash $ 4,105,814 $ 5,796,223
Accounts receivable, net of allowance for doubtful accountis of $48,068 for 2015 and 2014 14,088,390 2,943,850
Income tax receivable 21,251  
Inventory, net 1,745,180 2,983,447
Prepaid expenses and other current assets 609,320 638,243
Deferred income taxes 1,016,000 711,000
TOTAL CURRENT ASSETS 21,585,955 13,072,763
Other assets 136,766 166,084
PLANT AND EQUIPMENT    
Equipment, furniture and fixtures 4,680,246 4,590,124
Leasehold improvements 323,147 323,147
Less accumulated depreciation and amortization (3,763,403) (3,310,964)
Plant and equipment, net 1,239,990 1,602,307
Deferred income taxes 14,509,000 16,832,000
TOTAL ASSETS 37,471,711 31,673,154
Current liabilities:    
Accounts payable 1,077,349 1,124,859
Accrued expenses and other current liabilities 2,555,231 1,816,508
Accrued compensation 592,428 436,843
TOTAL CURRENT LIABILITIES 4,225,008 3,378,210
Long-term liabilities:    
Deferred rent 15,389 39,105
Deferred income taxes 98,252 190,513
TOTAL LIABILITIES $ 4,338,649 $ 3,607,828
Commitments and Contingencies
STOCKHOLDERS' EQUITY:    
Preferred stock; no shares issued and outstanding in 2015 or 2014
Common stock, par value $0.01 per share; authorized 38,500,000 shares; issued 31,192,536 and 30,958,669, and 29,008,832 and 28,775,215 shares outstanding in 2015 and 2014 respectively $ 311,925 $ 309,587
Additional paid-in-capital 69,205,201 68,484,889
Accumulated other comprehensive loss (581,519) (581,519)
Accumulated deficit (27,995,940) (32,341,976)
Treasury stock, at cost (7,806,605) (7,805,655)
TOTAL STOCKHOLDERS' EQUITY 33,133,062 28,065,326
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 37,471,711 $ 31,673,154