Stock Option Plans

12 Months Ended

Sep. 30, 2012

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 548,058 shares of common stock reserved for issuance to key employees, including officers and directors, as of September 30, 2012.  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 and 2010, employees and directors surrendered mature shares for current exercises which resulted in an increase to treasury stock of $162,270 and $44,204, respectively.  There were 57,058 options available for grant at September 30, 2012.

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, 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
Options granted	78,000		$3.19
Options exercised	—		—
Options forfeited	(104,051	)	$4.18
Outstanding at September 30, 2012	481,000		$4.32	6.1	—
Exercisable at September 30, 2012	254,700		$4.57	4.8	—

The weighted-average grant date fair value of options granted during the years ended September 30, 2012, 2011 and 2010 was $2.03, $2.54 and $3.54, respectively. The total intrinsic value of options (in-the-money options) exercised during the years ended September 30, 2011 and 2010 was $81,216 and $34,870, respectively. As of September 30, 2012, there was $363,265 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 1.4 years.