Annual report pursuant to Section 13 and 15(d)

Employee Benefit Plan

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Employee Benefit Plan
 12 Months Ended
Sep. 30, 2015
Employee Benefit Plan [Abstract]  
Employee Benefit Plan

Note 9.Employee Benefit Plan

 

The Company has a Simple Individual Retirement Account (IRA) plan for its employees.  Employees are eligible to participate in the plan if their compensation reaches certain minimum levels and are allowed to contribute up to a maximum of $15,500 annual compensation to the plan.  The Company has elected to match 100 percent of employee contributions to the plan up to a maximum of 3 percent of employee compensation for the years ended September 30, 2015, 2014, and 2013. Annual Company contributions were approximately $37,000,  $31,000, and $29,000  for the years ended September 30, 2015, 2014, and 2013, respectively. 

 

In March 2014, the Company elected to contribute 3 percent into the personal pension schemes of certain senior U.K. employees.  Contributions for the years ended September 30, 2015 and 2014 were approximately $26,000 and $6,000, respectively.  Pension contributions were not made for the certain senior U.K. employees for the year ended September 30, 2013.