Income Taxes (Tables)
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12 Months Ended |
Sep. 30, 2018 |
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| Income Taxes [Abstract] |
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| Reconciliation Of Income Tax Expense (Benefit) |
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2018
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2017
|
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Income tax benefit at statutory rates
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$
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(5,820,180)
|
|
$
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(2,925,000)
|
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State income tax benefit, net of federal benefits
|
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(1,148,308)
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|
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(538,000)
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Effect of change in U.S. tax rate
|
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3,319
|
|
|
—
|
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Non-deductible expenses – other
|
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14,856
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|
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215,000
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Effect of lower foreign income tax rates
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349,818
|
|
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216,651
|
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Effect of change in U.K. tax rate
|
|
—
|
|
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615,000
|
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Effect of deemed dividend and repatriation tax
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402,760
|
|
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405,646
|
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Correction of prior year dividend tax rate
|
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—
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440,100
|
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Effect of change in state tax rate
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—
|
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(215,000)
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Other
|
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265,330
|
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(49,555)
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Recharacterization of foreign tax credits to net operating loss
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1,311,429
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|
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—
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Change in valuation allowance
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5,487,078
|
|
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(155,285)
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Income tax expense (benefit)
|
$
|
866,102
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$
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(1,990,443)
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| Summary Of Federal And State Income Tax Provision (Benefit) |
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2018
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2017
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Deferred – U.S.
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$
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629,381
|
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$
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(2,369,000)
|
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Deferred – U.K.
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34,612
|
|
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224,000
|
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Deferred – Malaysia
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(33,843)
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(110,069)
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Subtotal
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630,150
|
|
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(2,255,069)
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Current – U.S.
|
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—
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1,000
|
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Current – U.K.
|
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24,662
|
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—
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Current – Malaysia
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211,290
|
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263,626
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Subtotal
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235,952
|
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264,626
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|
|
|
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Income tax expense (benefit)
|
$
|
866,102
|
|
$
|
(1,990,443)
|
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| Significant Components Of Deferred Tax Assets And Liabilities |
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Deferred tax assets:
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2018
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2017
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Federal net operating loss carryforwards
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$
|
6,973,047
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$
|
4,075,000
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State net operating loss carryforwards
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2,195,865
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|
963,000
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AMT credit carryforward
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—
|
|
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533,000
|
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Foreign net operating loss carryforwards – U.K.
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10,595,518
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10,578,000
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Foreign capital allowance – U.K.
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102,098
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108,000
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U.K. bad debts
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1,700
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|
2,000
|
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Restricted stock – U.K.
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17,586
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|
|
1,000
|
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U.S. unearned revenue
|
|
—
|
|
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409,000
|
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U.S. deferred rent
|
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22,902
|
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|
76,000
|
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Share-based compensation
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622,442
|
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|
447,000
|
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Foreign tax credits
|
|
—
|
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1,797,000
|
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Other, net – U.S.
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|
91,419
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82,000
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Other, net – Malaysia
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33,843
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—
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Gross deferred tax assets
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20,656,420
|
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19,071,000
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Valuation allowance for deferred tax assets
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(7,631,078)
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(2,144,000)
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Net deferred tax assets
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13,025,342
|
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16,927,000
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Deferred tax liabilities:
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In process research and development
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(4,675,860)
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(7,000,000)
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Developed technology
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(549,318)
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(900,000)
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Covenant not-to-compete
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(94,321)
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(200,000)
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Other
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(6,843)
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—
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Net deferred tax liabilities
|
|
(5,326,342)
|
|
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(8,100,000)
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Net deferred tax asset
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$
|
7,699,000
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$
|
8,827,000
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| Schedule Of Deferred Tax Amounts Classified In Balance Sheets |
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2018
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2017
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Long-term deferred tax asset – U.S.
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$
|
—
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|
$
|
282,473
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Long-term deferred tax asset – U.K.
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8,509,915
|
|
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8,544,527
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Long-term deferred tax asset – Malaysia
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33,843
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—
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Total long-term deferred tax asset
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$
|
8,543,758
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$
|
8,827,000
|
|
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Long-term deferred tax liability – U.S.
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(844,758)
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—
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Total long-term deferred tax liability
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$
|
(844,758)
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$
|
—
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