Stock Option Plans

12 Months Ended

Sep. 30, 2013

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 484,608 shares of common stock reserved for issuance to key employees, including officers and directors, as of September 30, 2013.  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.  There were 55,108 options available for grant at September 30, 2013.

Changes in outstanding stock options for the two years ended September 30, 2013 are as follows:

	Number of Options		Weighted Average Exercise Price	Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value
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
Options granted	26,000		$2.62
Options exercised	—		—
Options forfeited	(77,500	)	$3.81
Outstanding at September 30, 2013	429,500		$4.31	6.1	—
Exercisable at September 30, 2013	281,112		$4.57	5.4	—

The weighted-average grant date fair value of options granted during the years ended September 30, 2013 and 2012 was $1.61 and $2.03, respectively. As of September 30, 2013, there was $201,395 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.