| Reconciliation Of Income Tax Expense (Benefit) |
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Three Months Ended
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Six Months Ended
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March 31,
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March 31,
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2017
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2016
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2017
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2016
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Income tax (benefit) expense at statutory rates
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$
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(884,000)
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$
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2,000
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$
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(1,529,000)
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$
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791,000
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State income tax (benefit) expense, net of federal benefits
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(133,000)
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—
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(229,000)
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119,000
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Non-deductible business acquisition expenses
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42,000
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1,000
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153,000
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3,000
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Non-deductible expenses - other
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3,000
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—
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4,000
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—
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Effect of AMT expense
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—
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(3,000)
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-
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27,000
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Effect of lower foreign income tax rates
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120,641
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(47,648)
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202,377
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(154,773)
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Other
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27,326
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19,824
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44,521
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16,402
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Income tax (benefit) expense
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$
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(824,033)
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$
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(27,824)
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$
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(1,354,102)
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$
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801,629
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| Significant Components Of Deferred Tax Assets And Liabilities |
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March 31,
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September 30,
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Deferred Tax Assets
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2017
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2016
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Federal net operating loss carryforwards
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$
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5,037,847
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$
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2,756,000
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State net operating loss carryforwards
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532,349
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400,000
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AMT credit carryforward
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489,000
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489,000
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Foreign net operating loss carryforwards – U.K.
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11,198,602
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10,955,000
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Foreign capital allowance – U.K.
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112,000
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112,000
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Other, net - Malaysia
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9,850
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9,850
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Restricted stock – U.K.
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1,000
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1,000
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Share-based compensation
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92,437
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101,000
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Warrants
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212,367
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—
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Deemed dividend - Malaysia
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942,000
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942,000
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Other, net - U.S.
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25,000
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25,000
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Gross deferred tax assets
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18,652,452
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15,790,850
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Valuation allowance for deferred tax assets
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(2,299,000)
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(2,299,000)
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Net deferred tax assets
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16,353,452
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13,491,850
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Deferred Tax Liabilities:
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Intangible assets
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(8,204,000)
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—
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Foreign capital allowance – Malaysia
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(112,621)
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(119,919)
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Gross deferred tax liabilities
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(8,316,621)
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(119,919)
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Net deferred tax assets
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$
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8,036,831
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$
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13,371,931
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| Schedule Of Deferred Tax Amounts Classified In Balance Sheets |
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March 31,
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September 30,
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2017
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2016
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Long term deferred assets
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$
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9,012,602
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$
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13,482,000
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Long term deferred liabilities
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(975,771)
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(110,069)
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Total
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$
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8,036,831
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$
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13,371,931
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