Stock Option Plans

12 Months Ended

Sep. 30, 2011

Stock Option Plans [Abstract]

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

Stock Option Plans

The Company maintains stock option plans and a stock incentive plan that provide for the grant of incentive and non-qualified options covering a total of 629,436 shares of common stock reserved for issuance to key employees, including officers and directors, as of September 30, 2011.  All options are issued at fair market value at the grant date and are exercisable in varying installments according to the plans.  The plans allow for the payment of option exercises through the surrender of previously owned mature shares based on the fair market value of such shares at the date of surrender.  Such surrendering of mature shares by holders results in an increase to treasury stock based on the stock price on date of surrender.  During the years ended September 30, 2011, 2010 and 2009, employees and directors surrendered mature shares for current exercises which resulted in an increase to treasury stock of $162,270, $44,204 and $114,900, respectively.  There were 122,385 options available for grant at September 30, 2011.

Changes in outstanding stock options for the three years ended September 30, 2011 are as follows:

	Number of Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value
Outstanding at September 30, 2008	467,287		$	3.98
Options granted	113,000		$	5.08
Options exercised	(140,504	)	$	3.64
Options forfeited	(11,000	)	$	4.93
Outstanding at September 30, 2009	428,783		$	4.35
Options granted	25,000		$	5.23
Options exercised	(15,308	)	$	3.23
Options forfeited	(26,500	)	$	4.86
Outstanding at September 30, 2010	411,975		$	4.42
Options granted	151,000		$	4.03
Options exercised	(52,924	)	$	3.02
Options forfeited	(3,000	)	$	4.06
Outstanding at September 30, 2011	507,051		$	4.45	6.2	$	21,248
Exercisable at September 30, 2011	248,295		$	4.46	4.7	$	19,648

The weighted-average grant date fair value of options granted during the years ended September 30, 2011, 2010 and 2009 was $2.54, $3.54 and $3.54, respectively. The total intrinsic value of options (in-the-money options) exercised during the years ended September 30, 2011, 2010 and 2009 was $81,216, $34,870 and $294,021, respectively.

A summary of the status of the Company’s nonvested shares and changes during the years presented is as follows:

	Number of Options		Weighted Average Grant-Date Fair Value
Nonvested at September 30, 2008	262,735		$	2.89
Granted	113,000		$	3.54
Vested	(92,365	)	$	2.52
Forfeited	(11,000	)	$	3.61
Nonvested at September 30, 2009	272,370		$	3.25
Granted	25,000		$	3.54
Vested	(92,658	)	$	3.12
Forfeited	(2,600	)	$	2.97
Nonvested at September 30, 2010	202,112		$	3.35
Granted	151,000		$	2.54
Vested	(91,356	)	$	3.14
Forfeited	(3,000	)	$	2.62
Nonvested at September 30, 2011	258,756		$	2.96

As of September 30, 2011, there was $551,066 of total unrecognized compensation cost, net of estimated forfeitures, related to nonvested share-based compensation arrangements, which is expected to be recognized over a weighted-average period of 1.5 years.  The total fair value of shares vested during the years ended September 30, 2011, 2010 and 2009 was $287,188, $289,227 and $232,687, respectively.