Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v2.4.0.8
Condensed Consolidated Balance Sheets (USD $)
Jun. 30, 2014
Sep. 30, 2013
Current Assets:    
Cash $ 4,142,231 $ 8,922,430
Accounts receivable, net 5,419,568 2,362,165
Income tax receivable 78,038 78,440
Inventory, net 3,029,417 2,459,417
Prepaid expenses and other current assets 374,290 514,213
Deferred income taxes 1,657,000 2,552,000
TOTAL CURRENT ASSETS 14,700,544 16,888,665
Other assets 174,568 138,458
PLANT AND EQUIPMENT    
Equipment, furniture and fixtures 4,906,164 4,821,001
Less accumulated depreciation and amortization (3,154,076) (2,726,171)
Plant and equipment, net 1,752,088 2,094,830
Deferred income taxes 16,048,000 16,048,000
TOTAL ASSETS 32,675,200 35,169,953
Current liabilities:    
Accounts payable 1,213,365 904,049
Accrued expenses and other current liabilities 1,782,915 1,520,952
Accrued compensation 386,632 962,693
Accrued dividend 5,338 19,505
TOTAL CURRENT LIABILITIES 3,388,250 3,407,199
Deferred rent 46,133 66,799
Deferred grant income 39,196 57,819
Deferred income taxes 234,007 235,179
TOTAL LIABILITIES 3,707,586 3,766,996
Commitments and Contingencies      
STOCKHOLDERS' EQUITY:    
Preferred Stock      
Common Stock 309,247 306,948
Additional paid-in-capital 68,301,482 67,460,478
Accumulated other comprehensive loss (581,519) (581,519)
Accumulated deficit (31,775,855) (28,715,040)
Treasury stock, at cost (7,285,741) (7,067,910)
TOTAL STOCKHOLDERS' EQUITY 28,967,614 31,402,957
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 32,675,200 $ 35,169,953