Earnings Per Share (Tables)

12 Months Ended

Sep. 30, 2018

Earnings Per Share [Abstract]

Reconciliation of the basic and diluted earnings per share

Earnings per share is based on the weighted average number of shares outstanding for the year. A reconciliation of the basic and diluted earnings per share for the last two fiscal years is as follows:

	2018		2017
Basic
Net income attributable to common shareholders	$	4,283	$	2,499
Weighted average common shares outstanding (1)	5,943,891		5,361,843
Basic earnings per share	$	0.72	$	0.47
Diluted
Net income attributable to common shareholders	$	4,283	$	2,499
Weighted average common shares outstanding (1)	5,943,891		5,361,843
Add: Dilutive preferred shares impact prior to common stock conversion (2)	1,356,164		—
Add: Dilutive stock options outstanding	35,192		16,517
Average shares and dilutive potential common shares (1)(2)	7,335,247		5,378,360
Diluted earnings per share	$	0.58	$	0.46
Additional common stock option shares that have not been included due to their antidilutive effect	—		22,000

(1) On September 28, 2018, 500,000 shares of Series A Preferred Stock was mandatorily converted into 10 Shares of Common Stock following receipt of stockholder approval, resulting in the issuance of 5,000,000 shares of common stock, which impacts earnings per share. For further information, refer to Note 1, "Nature of Business and Summary of Significant Accounting Policies".

(2) On June 20, 2018, the Company entered into a Securities Purchase Agreement, pursuant to which the Company sold an aggregate of 500,000 shares of Series A Preferred Stock in a private placement at $130.00 per share, for aggregate gross proceeds of $65 million, which had an impact on diluted earnings per share. For further information, refer to Note 1, "Nature of Business and Summary of Significant Accounting Policies".