Stock Based Compensation

6 Months Ended

Mar. 31, 2014

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

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

Note 8 - Stock Based Compensation

The fair value of the stock options granted is estimated at the date of grant using the Black-Scholes option pricing model.

A summary of stock option activity for the six months ended March 31, 2014 and 2013 is presented below:

	Options Outstanding		Weighted Average Exercise Price per Share		Weighted Average Remain Contractual Term (in Years)
Balance at September 30, 2013		630,532	$	3.33		1.06
Outstanding and exercisable at September 30, 2013		630,532	$	3.33		1.06
Granted		-		-
Exercised		-		-
Cancelled		-		-
Balance at March 31, 2014		630,532	$	3.33		0.56
Outstanding and exercisable at March 31, 2014		630,532	$	3.33		0.56

	Options Outstanding		Weighted Average Exercise Price per Share		Weighted Average Remain Contractual Term (in Years)
Balance at September 30, 2012		794,483	$	3.34		1.75
Outstanding and exercisable at September 30, 2012		794,483	$	3.34		1.75
Granted		-		-
Exercised		-		-
Cancelled		(83,951)	$	3.69
Balance at March 31, 2013		710,532	$	3.30		1.41
Outstanding and exercisable at March 31, 2013		710,532	$	3.30		1.41

A summary of restricted stock activity for the six months ended March 31, 2014 and 2013 is presented below:

Restricted Stock Activity for the Six Months ended March 31, 2014	Shares		Weighted-Average Grant-Date Fair Value
Nonvested at September 30, 2013		423,168	$	0.74
Granted		-	$	-
Vested		(50,000)	$	1.05
Cancelled		-	$	-
Nonvested at March 31, 2014		373,168	$	0.70

Restricted Stock Activity for the Six Months ended March 31, 2013	Shares		Weighted-Average Grant-Date Fair Value
Nonvested at September 30, 2012		127,834	$	1.92
Granted		104,000	$	1.03
Vested		(53,000)	$	1.21
Cancelled		(20,000)	$	4.02
Nonvested at March 31, 2013		158,834	$	1.31

Stock Compensation Expense for the six months ended March 31, 2014 and 2013 is as follows:

	Three Months Ended		Three Months Ended
Stock Compensation Expense	March 31, 2014		March 31, 2013
Stock Grants	$	50,627	$	80,091
Restricted Stock Grants		68,351		53,076
Option Grants		-		2,454
Employee Stock Purchase Plan		601		991
Total	$	119,579	$	136,612

	Six Months Ended		Six Months Ended
Stock Compensation Expense	March 31, 2014		March 31, 2013
Stock Grants	$	101,253	$	132,552
Restricted Stock Grants		136,702		65,694
Option Grants		-		9,813
Employee Stock Purchase Plan		1,270		2,069
Total	$	239,225	$	210,128

At March 31, 2014 there was approximately $103,000 in unrecognized stock compensation cost, which is expected to be recognized over a weighted average period of approximately five months.