Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.3.1.900
Condensed Consolidated Balance Sheets - USD ($)
Dec. 31, 2015
Sep. 30, 2015
Current Assets:    
Cash $ 3,671,641 $ 4,105,814
Accounts receivable, net 17,684,819 14,088,390
Income tax receivable 27,195 21,251
Inventory, net 1,562,117 1,745,180
Prepaid expenses and other current assets 316,675 609,320
Deferred income taxes 279,659 1,016,000
TOTAL CURRENT ASSETS 23,542,106 21,585,955
Other assets 137,616 136,766
PLANT AND EQUIPMENT    
Equipment, furniture and fixtures 4,629,755 4,680,246
Leasehold Improvements 323,147 323,147
Less accumulated depreciation and amortization (3,824,487) (3,763,403)
Plant and equipment, net 1,128,415 1,239,990
Deferred income taxes 14,509,000 14,509,000
TOTAL ASSETS 39,317,137 37,471,711
Current Liabilities:    
Accounts payable 1,148,387 1,077,349
Accrued expenses and other current liabilities 3,115,318 2,555,231
Accrued compensation 212,851 592,428
TOTAL CURRENT LIABILITIES 4,476,556 4,225,008
Deferred rent 12,001 15,389
Deferred income taxes 108,363 98,252
TOTAL LIABILITIES $ 4,596,920 $ 4,338,649
Commitments and Contingencies
STOCKHOLDERS' EQUITY:    
Preferred stock
Common stock $ 312,075 $ 311,925
Additional paid-in-capital 69,301,843 69,205,201
Accumulated other comprehensive loss (581,519) (581,519)
Accumulated deficit (26,505,577) (27,995,940)
Treasury stock, at cost (7,806,605) (7,806,605)
TOTAL STOCKHOLDERS' EQUITY 34,720,217 33,133,062
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 39,317,137 $ 37,471,711