Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.5.0.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2016
Sep. 30, 2015
Current Assets:    
Cash $ 3,210,684 $ 4,105,814
Accounts receivable, net 18,636,643 14,088,390
Income tax receivable 29,000 21,251
Inventory, net 2,337,436 1,745,180
Prepaid expenses and other current assets 544,265 609,320
Deferred income taxes 244,105 1,016,000
TOTAL CURRENT ASSETS 25,002,133 21,585,955
Other assets 191,071 136,766
PLANT AND EQUIPMENT    
Equipment, furniture and fixtures 4,621,351 4,680,246
Leasehold improvements 323,147 323,147
Less accumulated depreciation and amortization (4,028,291) (3,763,403)
Plant and equipment, net 916,207 1,239,990
Deferred income taxes 14,509,000 14,509,000
TOTAL ASSETS 40,618,411 37,471,711
Current Liabilities:    
Accounts payable 1,059,410 1,077,349
Accrued expenses and other current liabilities 3,692,367 2,555,231
Accrued compensation 235,457 592,428
TOTAL CURRENT LIABILITIES 4,987,234 4,225,008
Deferred rent 4,801 15,389
Deferred income taxes 115,554 98,252
TOTAL LIABILITIES 5,107,589 4,338,649
Commitments and Contingencies
STOCKHOLDERS' EQUITY:    
Preferred stock
Common stock 312,364 311,925
Additional paid-in-capital 69,486,856 69,205,201
Accumulated other comprehensive loss (581,519) (581,519)
Accumulated deficit (25,900,274) (27,995,940)
Treasury stock, at cost (7,806,605) (7,806,605)
TOTAL STOCKHOLDERS' EQUITY 35,510,822 33,133,062
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 40,618,411 $ 37,471,711