Stock Based Compensation

3 Months Ended

Dec. 31, 2014

Stockholders Equity Note [Abstract]

Stockholders Equity Note Disclosure [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 three months ended December 31, 2014 and 2013 is presented below:

			Weighted Average		Weighted Average
	Options		Exercise Price per		Remain Contractual
	Outstanding		Share		Term (in Years)
Balance at September 30, 2014		430,532	$	3.33		0.31
Outstanding and exercisable at September 30, 2014		430,532	$	3.33		0.31
Granted		-		-
Exercised		-		-
Cancelled		(408,552)	$	3.99
Balance at December 31, 2014		21,980	$	3.03		2.09
Outstanding and exercisable at December 31, 2014		21,980	$	3.03		2.09

			Weighted Average		Weighted Average
	Options		Exercise Price per		Remain Contractual
	Outstanding		Share		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 December 31, 2013		630,532	$	3.33		0.81
Outstanding and exercisable at December 31, 2013		630,532	$	3.33		0.81

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

Restricted Stock Activity for the Three Months ended			Weighted-Average
December 31, 2014	Shares		Grant-Date Fair Value
Nonvested at September 30, 2014		54,000	$	1.04
Granted		-		-
Vested		-		-
Cancelled		-		-
Nonvested at December 31, 2014		54,000	$	1.04

Restricted Stock Activity for the Three Months ended			Weighted-Average
December 31, 2013	Shares		Grant-Date Fair Value
Nonvested at September 30, 2013		423,168	$	0.74
Granted		-		-
Vested		(12,500)		1.08
Cancelled		-		-
Nonvested at December 31, 2013		410,668	$	0.73

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

	Three Months Ended		Three Months Ended
Stock Compensation Expense	December 31, 2014		December 31, 2013
Stock Grants	$	57,000	$	51,000
Restricted Stock Grants		7,000		68,000
Employee Stock Purchase Plan		1,000		1,000
Total	$	65,000	$	120,000

At December 31, 2014 there was approximately $48,000 in unrecognized stock compensation cost, which is expected to be recognized over a weighted average period of three months.