Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2018
Sep. 30, 2017
Current Assets:    
Cash $ 8,972,498 $ 3,277,602
Accounts receivable, net 2,969,073 3,555,350
Inventory, net 3,589,057 2,767,924
Prepaid expenses and other current assets 629,527 697,097
TOTAL CURRENT ASSETS 16,160,155 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 (3,888,281) (3,800,043)
Plant and equipment, net 469,215 555,539
Other trade receivables (Notes 4)   7,837,500
Other assets 165,959 156,431
Deferred assets 424,921  
Deferred income taxes 13,480,558 8,827,000
Intangible assets, net 20,615,360 20,752,991
Goodwill 6,878,932 6,878,932
TOTAL ASSETS 58,195,100 55,306,366
Current Liabilities:    
Accounts payable 3,539,667 2,685,718
Accrued expenses and other current liabilities 1,940,348 1,441,359
Credit agreement, short-term portion (Note 7) 3,912,888  
Unearned revenue 872,370 1,014,517
Accrued compensation 322,654 345,987
TOTAL CURRENT LIABILITIES 10,587,927 5,487,581
LONG-TERM LIABILITIES    
Credit agreement, long-term portion (Note 7) 5,822,693  
Residual royalty agreement (Note 7) 372,070  
Other liabilities (Note 4)   1,233,750
Deferred rent 81,192 131,830
TOTAL LIABILITIES 16,863,882 6,853,161
Commitments and contingencies (Note 10)
STOCKHOLDERS' EQUITY:    
Preferred stock
Common stock 556,967 553,922
Additional paid-in-capital 91,514,007 90,550,669
Accumulated other comprehensive loss (581,519) (581,519)
Accumulated deficit (42,351,632) (34,263,262)
Treasury stock, at cost (7,806,605) (7,806,605)
TOTAL STOCKHOLDERS' EQUITY 41,331,218 48,453,205
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 58,195,100 $ 55,306,366