Note 7 - Stock Options:

12 Months Ended

Sep. 30, 2012

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

7. STOCK OPTIONS

Under the Company's Key Employees Stock Option Plans (collectively the "Employee Plans") the Compensation Committee of the Board of Directors had the authority to grant options to Key Employees to purchase Class A shares. The options were exercisable for up to 10 years. Incentive stock options were available at an exercise price of not less than market price on the date the option were granted. However, options available to an individual owning more than 10% of the Company's Class A shares at the time of grant must be at a price not less than 110% of the market price. Non-qualified stock options may be issued at such exercise price and on such other terms and conditions as the Compensation Committee may determine. No options may be granted at a price less than $2.925. Under the Employee Plans there are no options currently available for grant and there are no options outstanding at September 30, 2012.

The Company's Outside Directors Stock Option Plans (collectively the "Directors Plans") provide for the automatic grant of options to purchase up to 42,000 shares of Class A common stock over a three year period to members of the Board of Directors who are not employees of the Company, at the fair market value on the date of grant. The options are exercisable for up to 10 years. All options granted under the Directors Plans become fully exercisable on March 8, 2015.

Non-cash compensation expense related to stock option plans for fiscal years ended September 30, 2012, 2011 and 2010 was $11,388, $12,615 and $16,045 respectively.

Transactions involving the plan are summarized as follows:

	2012			Weighted Average Exercise Price		2011			Weighted Average Exercise Price		2010			Weighted Average Exercise Price
Option Shares
Employee Plans:
Outstanding October 1,		26,850		$	3.55		41,500		$	3.41		59,400		$	3.81
Granted		-			-		-			-		-			-
Canceled/expired		(26,850	)		3.55		(14,650	)		3.15		(17,900	)		4.73
Exercised		-			-		-			-		-			-
Outstanding September 30, ($0 per share)		-			-		26,850			3.55		41,500			3.41
Exercisable September 30,		-			-		26,850			3.55		41,500			3.41
Directors Plans:
Outstanding October 1,		38,000		$	5.95		44,000		$	6.30		41,000		$	6.51
Granted		7,000			2.925		5,000			2.925		6,000			6.00
Canceled/expired		(3,000	)		3.55		(11,000	)		5.98		(3,000	)		8.50
Exercised		-			-		-			-		-			-
Outstanding September 30, ($2.925 to $11.00 per share)		42,000			5.62		38,000			5.95		44,000			6.30
Exercisable September 30,		30,000			6.52		28,334			6.62		33,000			6.46

The following is a summary of the range of exercise prices for stock options outstanding and exercisable under the Directors Plans at September 30, 2012.

	Directors Plans			Outstanding Stock Options		Weighted Average Exercise Price		Weighted Average Remaining Life		Number of Stock Options Exercisable		Weighted Average Exercise Price
	Range of exercise prices:
$	2.925	-	5.25		23,000	$	3.43		6.5		12,667	$	3.84
$	6.00	-	7.25		11,000	$	6.46		4.5		9,333	$	6.55
$	10.50	-	11.00		8,000	$	10.75		5.0		8,000	$	10.75
					42,000	$	5.62				30,000	$	6.52

The Company accounts for Share-Based Payments under the modified prospective method for its stock options for both employees and non-employee Directors. Compensation cost for fixed based awards are measured at the grant date, and the Company uses the Black-Scholes option pricing model to determine the fair value estimates for recognizing the cost of employee and director services received in exchange for an award of equity instruments. The Black-Scholes option pricing model requires the use of subjective assumptions which can materially affect the fair value estimates. Employee stock options are immediately exercisable while Director's stock options are exercisable over a three year period. The fair value of stock option grants to Directors is amortized over the three year vesting period. During fiscal year ended September 30, 2012 and 2011, $11,388 and $12,615 respectively was expensed as share-based compensation. Total compensation costs related to nonvested awards not yet recognized is $6,465 (2013) and $2,837 (2014) and $543 (2015). The following weighted-average assumptions were used in the option pricing model for 2012 and 2011: a risk free interest rate of 5.0% and 5.5%; an expected life of 10 and 10 years; an expected dividend yield of 0.0% and 0.0%; and a volatility factor of .87 and .75.