Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.8.0.1
Condensed Consolidated Balance Sheets - USD ($)
Dec. 31, 2017
Sep. 30, 2017
Current Assets:    
Cash $ 3,572,350 $ 3,277,602
Accounts receivable, net 3,000,308 3,555,350
Inventory, net 3,067,036 2,767,924
Prepaid expenses and other current assets 625,497 697,097
TOTAL CURRENT ASSETS 10,265,191 10,297,973
PLANT AND EQUIPMENT    
Equipment, furniture and fixtures 4,069,810 4,067,896
Leasehold improvements 287,686 287,686
Less accumulated depreciation and amortization (3,844,272) (3,800,043)
Plant and equipment, net 513,224 555,539
Other trade receivables (Notes 5)   7,837,500
Other assets 159,662 156,431
Deferred assets 423,001  
Deferred income taxes 12,124,000 8,827,000
Intangible assets, net 20,684,175 20,752,991
Goodwill 6,878,932 6,878,932
TOTAL ASSETS 51,048,185 55,306,366
Current Liabilities:    
Accounts payable 2,517,371 2,685,718
Accrued expenses and other current liabilities 2,383,628 1,441,359
Unearned revenue 990,016 1,014,517
Accrued compensation 338,136 345,987
TOTAL CURRENT LIABILITIES 6,229,151 5,487,581
LONG-TERM LIABILITIES:    
Other liabilities (Note 5)   1,233,750
Deferred rent 68,446 131,830
TOTAL LIABILITIES 6,297,597 6,853,161
Commitments and contingencies (Note 10)
STOCKHOLDERS' EQUITY:    
Preferred stock
Common stock 556,967 553,922
Additional paid-in-capital 91,102,159 90,550,669
Accumulated other comprehensive loss (581,519) (581,519)
Accumulated deficit (38,520,414) (34,263,262)
Treasury stock, at cost (7,806,605) (7,806,605)
TOTAL STOCKHOLDERS' EQUITY 44,750,588 48,453,205
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 51,048,185 $ 55,306,366