INCOME PER COMMON SHARE (Tables)

6 Months Ended

Mar. 31, 2021

INCOME PER COMMON SHARE [Abstract]

Reconciliation of Basic and Diluted Income (Loss) per Share

The following table provides a reconciliation of the basic and diluted income (loss) per share (“EPS”) computations for the three and six months ended March 31, 2021 and 2020 (in thousands, except share and per share data):

	For the Three Months Ended March 31,						For the Six Months Ended March 31,
	2021			2020			2021			2020
Income (loss):
Net income (loss)	$	596		$	(937	)	$	851		$	(1,057	)
Preferred stock dividends		(195	)		(175	)		(369	)		(326	)
Net Income (loss) available to common stockholders	$	401		$	(1,112	)	$	482		$	(1,383	)
Common Shares:
Basic - weighted average common shares		936,154			865,985			936,045			865,630
Effect of dilutive securities:
Stock options		47,320			—			38,973			—
Restricted stock		—			—			—			—
Convertible preferred stock		310			—			310			—
Diluted - weighted average common stock		983,784			865,985			975,328			865,630
Income (loss) per Common Share:
Basic -
Net income (loss)	$	0.64		$	(1.08	)	$	0.91		$	(1.22	)
Preferred stock dividends		(0.22	)		(0.21	)		(0.40	)		(0.38	)
Net Income (loss) available to common stockholders	$	0.42		$	(1.29	)	$	0.51		$	(1.60	)
Diluted -
Net income (loss)	$	0.61		$	(1.08	)	$	0.87		$	(1.22	)
Preferred stock dividends		(0.20	)		(0.21	)		(0.38	)		(0.38	)
Net income (loss) available to common stockholders	$	0.41		$	(1.29	)	$	0.49		$	(1.60	)

Potentially Diluted Securities

Potentially dilutive securities as of March 31, 2021 and 2020 were as follows:

	March 31,
	2021		2020
Employee Stock Options		98,994		114,496
Non-employee Stock Options		6,053		36,053
Employee Restricted Stock		—		5,000
Non-employee Restricted Stock		—		26,667
Convertible Preferred Stock		310		6,310
		105,357		188,526