Debt (Tables)

12 Months Ended

Sep. 30, 2019

Debt

Schedule of debt

Debt at September 30, 2019 and 2018 is summarized as follows:

	2019		2018
Term note payable to Middlesex Savings Bank. The note payable to Middlesex is due in monthly installments of $37,000 for principal and interest through February 2021. The interest rate is 4.52% and the note is secured by an interest in substantially all of the Company's personal property and sixty-five percent of the Company's equity interests in its UK subsidiary, Hilger Crystals, Ltd.	$	614,000	$	1,024,000
Equipment term note payable to Middlesex Savings Bank. The note payable to Middlesex is due in monthly installments of $14,000 for principal and interest through July 2023. The interest rate is 5.66% and the note is secured by an interest in substantially all of the Company's personal property and sixty-five percent of the Company's equity interests in its UK subsidiary, Hilger Crystals, Ltd.		596,000		742,000
Equipment term note payable to Middlesex Savings Bank. The note payable to Middlesex is due in monthly installments of $9,000 for principal and interest through April 2024. The interest rate is 5.17% and the note is secured by an interest in substantially all of the Company's personal property and sixty-five percent of the Company's equity interests in its UK subsidiary, Hilger Crystals, Ltd.		448,000		—
Note payable to Town of Ayer Industrial Development Finance Authority (Ayer) for an equipment line of credit made with Dynasil subsidiary Optometrics. The note payable to Ayer was due in monthly installments totaling $17,000 per year and was amortized over ten years with a balloon payment at five years from the date of the note. The interest rate was 5.00%. The note was secured by an interest in the equipment purchased with the line.		—		122,000
Note payable to Massachusetts Development Finance Agency (MDFA) for promissory note made with Dynasil subsidiary Optometrics. The note payable to MDFA was due in monthly installments of $6,000 for principal and interest through March, 2019. The interest rate was 5.25%. The note was secured by an interest in substantially all of Optometric's personal property.		—		36,000
Subordinated note payable to Massachusetts Capital Resource Company in monthly installments of $5,000 through November 2019 for interest only, followed by monthly payments of $39,000 of interest and principal through November 2021. The interest rate was fixed at 7.00%. Subordinated note was refinanced and combined with consolidated subordinated note payable to Massachusetts Capital Resource Company.		—		865,000
Consolidated subordinated note payable to Massachusetts Capital Resource Company in monthly installments of $19,000 through July 2022 for interest only, followed by monthly payments of $70,000 of interest and principal through July 2026. The interest rate is fixed at 8.00%.		2,865,000		—
Note payable to Leaf Capital Funding, LLC (Leaf) for equipment financing with Dynasil subsidiary RMD. The note payable to Leaf was due in monthly installments of $1,000 for principal and interest through July 2019. The interest rate was 8.70%. The note was secured by an interest in the financed equipment.		—		14,000
Xcede Note agreement with Cook Biotech Inc. to fund pre-clinical testing for Xcede. Credit draw not to exceed $1.5 million, in three draws of $500,000 upon satisfaction of conditions in Note Agreement. Upon termination of the CBI note the remaining $1.0 million is no longer available. Note bears interest at a rate of 2% and is secured  by all the rights of Xcede under the Development Agreement, Supply Agreement, and License Agreement. The note was recorded at inception at fair value net of unamortized discount based on an imputed interest rate of 5.4%. During the year ended September 30, 2018, R&D expense of $35,000 was recorded to accrete the note to face value.		528,000		518,000
Total Debt	$	5,051,000	$	3,321,000
Less current portion		(1,189,000)		(1,246,000)
Long term portion		3,862,000		2,075,000

Schedule of aggregate maturities of debt

The aggregate maturities of debt based on the payment terms of the agreement are as follows:

For the years ending on September 30:
2020	$	1,189,000
2021		430,000
2022		361,000
2023		886,000
2024		758,000
Thereafter		1,427,000
	$	5,051,000