Note 9 - Stock Based Compensation

9 Months Ended

Jun. 30, 2017

Notes to Financial Statements

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

NOTE

9

.

STOCK BASED COMPENSATION

Restricted Stock Awards.

We use restricted stock awards to compensate certain key executives and other individuals. At

June 30, 2017,

we had

no

outstanding unvested restricted stock awards. Stock-based compensation expense associated with restricted stock awards was

$0

and

$18,725

for the

three

months ended

June 30, 2017

and

2016,

respectively, and

$37,450

and

$112,351

for the

nine

months ended

June 30, 2017

and

2016,

respectively. As of

June 30, 2017,

there is

no

remaining unrecognized stock-based compensation associated with restricted stock awards.

Stock Options.

Stock option activity as of and for the

nine

months ended

June 30, 2017

is as follows:

					Weighted
			Weighted		Average
			Average		Contractual		Aggregate
	Number of		Exercise		Term		Intrinsic
	Shares		Price		(Years)		Value
Outstanding at September 30, 2016		1,205,000	$	8.70		1.5	$	-
Granted		-		-		-		-
Cancelled		-		-		-		-
Exercised		50,000	$	0.75		2.0		-
Outstanding as of June 30, 2017		1,155,000	$	9.04		0.7	$	-
Vested and expected to vest at June 30, 2017		1,155,000	$	9.04		0.7	$	-
Exercisable at June 30, 2017		1,155,000	$	9.04		0.7	$	-

Stock-based compensation expense associated with stock options totaled

$0

for the

three

months ended

June 30, 2017

and

2016,

respectively; and

$0

and

$9,173

for the

nine

months ended

June 30, 2017

and

2016,

respectively. At

June 30, 2017,

there is

no

remaining unrecognized stock-based compensation associated with stock options. During the

three

and

nine

months ended

June 30, 2017,

we received proceeds of

$0

and

$37,500,

respectively, from stock option exercises.