hicka20160901

Nature of Operations [Text Block]

NATURE OF OPERATIONS

Hickok Incorporated and its wholly - owned domestic subsidiaries ("Company") develop and manufacture products used by companies in the transportation and emissions testing industries. Among the products are indicators and gauges sold to companies in aircraft and locomotive markets. On a larger scale, the Company manufactures diagnostic equipment used by technicians to test the various electronic systems in automobiles and trucks, and emissions testing equipment specified by various states for testing vehicle emissions. In addition, the Company is a manufacturer of flexible interlocking metal hose and a distributor of silicone hose with the recent addition of Federal Hose Manufacturing LLC (“Federal Hose”). The Company serves the automotive, trucking, locomotive and general aviation markets predominately in North America. Sales in the Company's principal product classes, as a percent of consolidated sales, are as follows:

Product Classes	2016			2015			2014
Automotive Test Equipment		55.5	%		77.8	%		76.3	%
Indicating Instruments		18.0			22.2			23.7
Flexible Hose		26.5			-			-

Total		100.0	%		100.0	%		100.0	%

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Note 2 - Summary of Significant Accounting Policies

12 Months Ended

Sep. 30, 2016

Significant Accounting Policies [Text Block]

2.	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Principles of Consolidation

The consolidated financial statements include the accounts of Hickok Incorporated and its wholly - owned domestic subsidiaries. Significant intercompany transactions and balances have been eliminated in the financial statements.

New Accounting Standards

The Company did not incur any material impact to its financial condition or results of operations due to the adoption of any new accounting standards during the periods reported.

March

2016,

the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU

2016

09)

a new standard that changes the accounting for certain aspects of share - based payments to employees. The new guidance requires excess tax benefits and tax deficiencies to be recorded in the income statement when the awards vest or are settled. In addition, cash flows related to excess tax benefits will no longer be separately classified as a financing activity apart from the other income tax cash flows. The standard also allows the Company to repurchase more of an employee’s shares for tax withholding purposes without triggering liability accounting, clarifies that all cash payments made on an employee’s behalf for withheld shares should be presented as a financing activity on our cash flow statements, and provides an accounting policy election to account for forfeitures as they occur. The new standard is effective for the Company beginning

October

2017,

with early adoption permitted. This new standard is not expected to have a significant impact on the Company’s financial statements.

February

2016,

the FASB issued (ASU

2016

02)

a new standard related to leases to increase transparency and comparability among organizations by requiring the recognition of lease assets and lease liabilities on the balance sheet. Most prominent among the amendments is the recognition of assets and liabilities by lessees for those leases classified as operating leases under previous U.S. GAAP. Under the new standard, disclosures are required to meet the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. The new standard will be effective for the Company beginning

October

2019,

with early adoption permitted. We are evaluating the impact this standard will have to our financial statements.

In

May

2014,

the FASB issued its final standard on the recognition of revenue from contracts with customers. The standard, issued as Accounting Standards Update (ASU)

2014

09,

outlines a single comprehensive model for entities to use in the accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry specific guidance. The core principle of this model is that “an entity recognizes revenue to depict the transfer of promised goods or services to a customer in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services.” The update is effective for financial statement periods beginning after

December

15,

2017,

with early adoption prohibited. The Company has not determined the impact of this pronouncement on its financial statements and related disclosure.

June

2016,

the FASB issued ASU

2016

13,

Financial Instruments - Credit Losses. The standard requires a financial asset (including trade receivables) measured at amortized cost basis to be presented at the net amount expected to be collected. Thus, the income statement will reflect the measurement of credit losses for newly - recognized financial assets as well as the expected increases or decreases of expected credit losses that have taken place during the period. This standard will be effective for fiscal years beginning after

December

31,

2019.

The Company is currently in the process of evaluating the impact of adoption of this ASU on the financial statements.

Concentration of Credit Risk

% of outstanding receivables at

September

30,

2016

(80%

2015).

Sales to

one

customer approximated

$1,306,000

(2016),

$2,158,000

(2015),

$2,768,000

(2014),

and accounts receivable to this customer amounted to approximately

$52,000

(2016)

and

$741,000

(2015).

Use of Estimates in the Prepa

ration of Financial Statements

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that

may

affect the reported amounts of certain assets and liabilities and disclosure of contingencies at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

Fair

Value of Financial Instruments

Revenue Recognition

three

years in the period ending

September

30,

2016.

Product Warranties

The Company warrants certain products against defects for primarily

months. The amounts are immaterial during each of the

three

years in the period ending

September

30,

2016.

Product Development Costs

Product development costs, which include engineering production support, are expensed as incurred. Research and development performed for customers represents no more than

of sales in each year. The arrangements do not include a repayment obligation by the Company.

Cash and Cash Equivalents

For purposes of the Statement of Cash Flows, the Company considers all highly liquid debt instruments purchased with a maturity of

three

months or less to be cash equivalents. From time to time the Company maintains cash balances in excess of the FDIC limits. The cash balance at

September

30,

2016

and

2015

amounted to

$3,060,734

and

$346,405,

respectively.

Accounts Receivable

The Company establishes an allowance for doubtful accounts based upon factors surrounding the credit risk of specific customers, historical trends and other information.

Inventory

Inventory is valued at the lower of cost

(first

- in,

first

- out) or market and consist of:

	2016		2015

Raw materials and component parts	$	1,730,563	$	1,254,294
Work-in-process		438,447		499,752
Finished products		1,139,789		172,467

	$	3,308,799	$	1,926,513

The reserve for inventory obsolescence was

$235,592

and

$251,500

September

30,

2016

and

2015,

respectively.

Property, Plant and Equipment

Class	Method	Estimated Useful Lives (in years)

Buildings	Straight-line		10	to	40
Machinery and equipment	Straight-line		3	to	10
Tools and dies	Straight-line			3

Depreciation, including depreciation on capitalized leases, amounted to

$133,422

(2016),

$68,686

(2015),

and

$62,195

(2014).

Intangible Assets

Intangible assets relate to the purchase of Federal Hose Manufacturing LLC on

July

2016.

Goodwill is not amortized, but will be reviewed on an annual basis for impairment. Amortization of other intangible (Customer list) is being amortized on a straight - line basis over

years. Amortization of other intangibles was

$20,000

(2016),

(2015)

and

(2014).

Valuation of Long - Lived Assets

Long - lived assets such as property, plant and equipment and software are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount

may

not be recoverable. If the total of the expected future undiscounted cash flows is less than the carrying amount of the asset, a loss is recognized for the difference between the fair value and carrying value of the asset.

Shipping and Handling Costs

Shipping and handling costs are classified as cost of product sold.

Advertising Costs

Advertising costs are expensed as incurred and amounted to

$22,979

(2016),

$22,764

(2015)

and

$9,017

(2014).

Income Taxes

10).

During the year, the Company adopted the provisions of FASB ASU

2015

17,

Balance Sheet Classification of Deferred Taxes

which requires that deferred taxes are classified as non - current assets and non - current liabilities in the consolidated balance sheet. This guidance has been retrospectively applied.

Income per Common Share

Income per common share information is computed on the weighted average number of shares outstanding during each period as disclosed in Note

11.

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Note 3 - Notes Receivable	12 Months Ended
Note 3 - Notes Receivable	Sep. 30, 2016
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	3. NOTES RECEIVABLE Notes receivable consists of an unsecured note receivable from a current Director which bears interest at 3% per annum. The notes receivable is classified as long - term.

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References + Details

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Note 4 - Convertible Notes Payable

12 Months Ended

Sep. 30, 2016

Debt Disclosure [Text Block]

CONVERTIBLE NOTES PAYABLE

December

30,

2011,

management entered into a Convertible Loan Agreement (“Convertible Loan”) with Roundball, LLC (“Roundball”). The Convertible Loan provides approximately

$467,000

of liquidity to meet on going working capital requirements of the Company and allows

$250,000

of borrowing on the agreement at the Company's discretion at an interest rate of

0.25%.

Roundball, a major shareholder of the Company, is an affiliate of Steven Rosen and Matthew Crawford, Directors of the Company.

There have been several amendments to the original agreement over the years for the purpose of extending the existing terms of the Convertible Loan. On

December

20,

2016,

management entered into Amendment No.

of the Convertible Loan Agreement with Roundball. The amended Convertible Loan:

Continues to provide approximately

$467,000

of liquidity to meet on going working capital requirements;

Continues to allow

$250,000

of borrowing on the agreement at the Company's discretion at an interest rate of

0.34%;

and

Extends the due date of the loan agreement from

December

30,

2016

December

30,

2017.

The outstanding balance on the Convertible Loan as of

September

30,

2016,

$200,000.

As part of the Convertible Loan Agreement between the Company and Roundball, the parties entered into a Warrant Agreement, dated

December

30,

2012,

whereby the Company issued a warrant to Roundball to purchase, at its option, up to

100,000

shares of Class A Common Stock of the Company at an exercise price of

$2.50

per share, subject to certain anti - dilution and other adjustments. If not exercised or amended, this warrant would have expired on

December

30,

2015.

In connection with the amendments to the Convertible Loans, the Company has also entered into several amendments to Warrant Agreement for the purpose of extending the terms of the warrants with Roundball. Amendment No.

of the Warrant Agreement extended the due date of the agreement from

December

30,

2015

December

30,

2016.

Amendment No.

of the Warrant Agreement extended the due date of the agreement from

December

30,

2016

December

30,

2017.

December

2017.

The fair value of the warrants issued was amortized over the

one

- year amended convertible loan agreement period. The following weighted - average assumptions were used in the option pricing model for the fiscal year ended

September

30,

2013:

a risk - free interest rate of

0.42%;

an expected life of

years; an expected dividend yield of

0.0%;

and a volatility factor of

.84.

The Company recorded interest expense on the Roundball note of

$691

for fiscal

2016,

$644

for fiscal

2015,

and

$228

for fiscal

2014.

As of

September

30,

2016,

and

September

30,

2015,

$691

and

$1,176

of interest was paid respectively.

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Note 5 - Short - Term Financing

12 Months Ended

Sep. 30, 2016

Short-term Debt [Text Block]

SHORT - TERM FINANCING

June

2016,

management entered into an unsecured revolving credit agreement with First Francis Company Inc. First Francis Company Inc, became a major shareholder of the Company on

July

2016

when the Company completed the acquisition of Federal Hose pursuant to an Agreement and Plan of Merger with First Francis Company Inc. as owner of Federal Hose, Federal Hose, and Mr. Edward Crawford and Mr. Matthew Crawford, each of whom are the shareholders of First Francis Company Inc. Edward Crawford and Matthew Crawford serve on the Board of Directors of Hickok Incorporated. Matthew Crawford is the son of Edward Crawford.

The agreement provides for a revolving credit facility of

$250,000

with interest at

4.0%

per annum and is unsecured. Each loan made under the credit arrangement will be due and payable in full on the expiration date of the revolver note. In addition, the agreement generally allows for borrowing based on an amount equal to

eighty

percent of eligible accounts receivables or

$250,000.

The revolving line of credit expires on

May

31,

2017.

The Company recorded interest expense of

$2,889

for fiscal

2016.

Interest of

$2,889

was paid on the above credit facility as of

September

30,

2016.

The Company had

$250,000

outstanding borrowings on the credit facility at

September

30,

2016.

October

11,

2016,

the outstanding balance of

$250,000

plus accrued interest was paid in full.

Selected details of short - term borrowings for fiscal

2016

and

2015

are as follows:

	Amount		Weighted Average Interest Rate

Balance at September 30, 2016	$	250,000		4.00	%
Average during 2016	$	83,333		4.00	%
Maximum during 2016 (month end)	$	250,000		4.00	%
Balance at September 30, 2015	$	-		.00	%
Average during 2015	$	-		.00	%
Maximum during 2015 (month end)	$	-		.00	%

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Note 6 - Notes Payable - Related Parties

12 Months Ended

Sep. 30, 2016

NOTES PAYABLE - RELATED PARTIES

Notes payable - related parties is a result of the acquisition of Federal Hose Manufacturing LLC (see footnote

) and consists of the following:

	Current Portion 2016		Total September 30, 2016		Total September 30, 2015
In connection with the acquisition of Federal Hose Manufacturing LLC, the Company entered into a promissory note on July 1, 2016 for $2,000,000 loan due to First Francis Company, payable in quarterly installments of $60,911 beginning on October 31, 2016, bearing interest at 4%. The remaining balance of the note shall be payable in full on July 1, 2022. Collateralized by all of the assets of the Company.	$	159,274	$	2,000,000	$	-

In connection with the acquisition of Federal Hose Manufacturing LLC, the Company entered into a promissory note on July 1, 2016 for $2,768,662 loan due to First Francis Company, payable in quarterly installments of $84,321 beginning on October 31, 2016, bearing interest at 4%. The remaining balance of the note shall be payable in full on July 1, 2022. Collateralized by all of the assets of the Company.		220,487		2,768,662		-

	$	379,761		4,768,662		-

Less current portion				379,761		-

			$	4,388,901	$	-

	Total Principal Payments
Year Ending, September 30:
2017	$	379,761
2018		411,495
2019		428,203
2020		445,590
2021		463,683
Thereafter		2,639,930

	$	4,768,662

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Note 7 - Leases

12 Months Ended

Sep. 30, 2016

Capital Leases in Financial Statements of Lessee Disclosure [Text Block]

LEASES

Operating

The Company leases a facility from a related party and certain equipment under operating leases expiring through

June

30,

2026.

The Company's minimum commitment under these operating leases is as follows:

	Facility		Equipment

2017	$	180,000	$	8,938
2018		180,000		7,443
2019		180,000		-
2020		180,000		-
2021		180,000		-

Total	$	900,000	$	16,381

Rental expense was

$57,767

(2016),

$11,382

(2015)

and

$10,521

(2014).

Capital

	Current Portion		Total September 30, 2016		Total September 30, 2015
Capital lease obligation on MIS computer equipment and software, payable in monthly installments of $2,059 including interest at approximately 1.04% per annum through December, 2017.	$	24,710	$	28,828	$	-

Capital lease obligation on IT computer equipment and software, payable in monthly installments of $3,888 including interest at approximately 6.57% per annum, through February, 2021.		34,659		175,538		-

	$	59,369		204,366		-

Less current portion				59,369		-

			$	144,997	$	-

Capital Lease Obligations

Year Ending	Total Minimum Lease Payment		Less Amount Representing Interest		Present Value of Minimum Lease Obligation

2017	$	70,082	$	10,713	$	59,369
2018		50,772		8,042		42,730
2019		46,654		5,383		41,271
2020		46,345		2,281		44,064
2021		17,141		209		16,932

	$	230,994	$	26,628	$	204,366

The fixed assets related to the capital leases are as follows:

	2016		2015

Cost	$	247,811	$	-
Depreciation	$	27,673		-

Net Book Value	$	220,138	$	-

A facility held under a capital lease has a net book value of

September

30,

2016.

Future minimum lease payments which extend through

2061

are immaterial.

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Note 8 - Stock Options

12 Months Ended

Sep. 30, 2016

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

STOCK OPTIONS

The Company's

2013

Omnibus Equity Plan was approved and adopted by an affirmative vote of a majority of the Company's Class A and Class B Shareholders and provides for the grant of the following types of incentive awards: stock options, stock appreciation rights, restricted shares, restricted share units, performance shares and Class A Common Shares. Those who will be eligible for awards under the

2013

Omnibus Plan include employees who provide services to the Company and its affiliates, executive officers, non - employee Directors and consultants designated by the Compensation Committee. The Plan has

150,000

Class A Common Shares reserved for issuance. The Class A Common Shares

may

be either authorized, but unissued, common shares or treasury shares. No share - based awards have been granted under the

2013

Omnibus Equity Plan as of

September

30,

2016.

The Company's expired Outside Directors Stock Option Plans (collectively the "Directors Plans"), have provided for the automatic grant of options to purchase up to

5,000

shares of Class A Common Stock over a

three

- year period to members of the Board of Directors who were not employees of the Company, at the fair market value on the date of grant. The options are exercisable for up to

years. All options granted under the Directors Plans became fully exercisable on

March

2015.

Non - cash compensation expense related to stock option plans for fiscal years ended

September

30,

2016,

2015

and

2014

was

$0,

$543

and

$2,837

respectively.

Transactions involving the Directors Plans are summarized as follows:

				Weighted Average Exercise					Weighted Average Exercise					Weighted Average Exercise
	2016			Price		2015			Price		2014			Price

Option Shares
Directors Plans:
Outstanding October 1,		6,000		$	3.440		22,000		$	5.300		31,000		$	5.570
Granted		-			-		-			-		-			-
Canceled/expired		(1,000	)	$	2.925		(16,000	)	$	6.000		(9,000	)	$	6.230
Exercised		-			-		-			-		-			-
Outstanding September 30, ($2.925 to $11.00 per share)		5,000		$	3.540		6,000		$	3.440		22,000		$	5.300
Exercisable September 30,		5,000		$	3.540		6,000		$	3.440		20,000		$	5.540

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

September

30,

2016.

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		4,000	$	2.925		5.3		4,000	$	2.925
$	6.00		1,000	$	6.000		3.5		1,000	$	6.000

			5,000	$	3.540				5,000	$	3.540

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,

2016

and

2015,

and

$543,

respectively, was expensed as share - based compensation. Total compensation costs related to nonvested awards not yet recognized is

(2016).

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

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Note 9 - Capital Stock, Treasury Stock, and Contributed Capital	12 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	9. CAPITAL STOCK, TREASURY STOCK, AND CONTRIBUTED CAPITAL There are 10,000,000 Class A Shares and 2,500,000 Class B Shares authorized, as well as 1,000,000 Serial Preferred Shares. Unissued shares of Class A common stock (832,233 and 933,233 shares in 2016 and 2015, respectively) are reserved for the share - for - share conversion rights of the Class B common stock, stock options under the Directors Plans, conversion rights of the Convertible Promissory Note and available warrants (see Notes 4, 5 and 8). The Class A shares have one vote per share and the Class B shares have three votes per share, except under certain circumstances such as voting on voluntary liquidation, sale of substantially all the assets, etc. Dividends up to $.10 per year, noncumulative, must be paid on Class A shares before any dividends are paid on Class B shares.

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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+ Details

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Note 10 - Income Taxes

12 Months Ended

Sep. 30, 2016

Income Tax Disclosure [Text Block]

10.

INCOME TAXES

A reconciliation of the provision (recovery) of income taxes to the statutory federal income tax rate is as follows:

	2016			2015			2014

Income (Loss) Before Provision for (Recovery of) Income Taxes	$	1,333,248		$	(122,377	)	$	8,376
Statutory rate		34	%		34	%		34	%

		453,304			(41,608	)		2,848

Permanent differences		1,000			900			1,200
Research and development and other credits - net		(47,400	)		(48,500	)		(46,300	)
Valuation allowance		(3,681,100	)		82,200			44,400
Other		(25,404	)		7,008			(2,148	)

Total recovery of income taxes	$	(3,299,600	)	$	-		$	-

Deferred tax assets (liabilities) consist of the following:

	2016			2015

Inventories	$	302,600		$	81,500
Bad debts		3,400			3,400
Accrued liabilities		77,700			70,600
Prepaid expense		(8,900	)		(13,400	)
Depreciation and amortization		93,000			46,700
Research and development and other credit carryforwards		2,019,700			1,980,200
Net operating loss carryforward		1,303,000			1,914,300
Directors stock option plan		40,100			40,100
Acquisition costs		-			125,500

		3,830,600			4,248,900
Valuation allowance		(500,000	)		(4,248,900	)

Total	$	3,330,600		$	-

Valuation Reserve

The decrease in the current year valuation reserve of

$3,748,900

is due to the expiration of

$67,800

of research and development credits and a recovery of

$3,681,000

due to the likelihood that the Company will be profitable enough to utilize the majority of the net operating loss and research and development and other credit carryforwards. The increase in the prior year valuation allowance of

$82,200

is due to additional reserves due to the losses during the past several years.

Because of the uncertainties involved with this significant estimate, it is reasonably possible that the Company’s estimate

may

change in the near term.

Net Operating Loss Carryforwards:

The Company has net operating loss and research and development and other credit carryforwards for tax purposes which expire as follows:

Tax Year Expires	NOLS		R& D & Other Credits
2018	$	-	$	44,980
2019		-		166,019
2020		-		195,753
2021		-		125,939
2022		-		48,573
2023		-		107,172
2024		-		156,392
2025		-		155,394
2026		-		139,885
2027		-		154,991
2028		-		152,732
2029		1,587,809		68,676
2030		942,727		31,081
2031		358,744		44,712
2032		622,879		59,085
2033		33,807		111,323
2034		186,708		73,198
2035		99,688		76,429
2036		-		107,315

	$	3,832,362	$	2,019,649

XML 32 R17.htm IDEA: XBRL DOCUMENT

Note 11 - Earnings Per Common Share

12 Months Ended

Sep. 30, 2016

Earnings Per Share [Text Block]

11.

EARNINGS PER COMMON SHARE

The following table sets forth the computation of basic and diluted earnings per share.

	2016		2015			2014

Basic Income (Loss) Per Share
Income (Loss) available to common stockholders	$	4,632,848	$	(122,377	)	$	8,376
Shares denominator		1,943,625		1,638,215			1,638,215
Per share amount	$	2.38	$	(.07	)	$	.01

Effect of Dilutive Securities
Average shares outstanding		1,943,625		1,638,215			1,638,215
Options available under convertible note		-		-			31,097

		1,943,625		1,638,215			1,669,312
Diluted Income (Loss) Per Share
Income (Loss) available to common stockholders	$	4,632,848	$	(122,377	)	$	8,376
Per share amount	$	2.38	$	(.07	)	$	.01

Options and warrants to purchase

5,000

and

100,000

shares of common stock respectively during fiscal

2016

at prices ranging from

$2.50

$6.00

per share were outstanding but were not included in the computation of diluted earnings per share because the option's and warrant's effect was antidilutive or the exercise price was greater than the average market price of the common share.

Options and warrants to purchase

6,000

and

200,000

shares of common stock respectively during fiscal

2015

at prices ranging from

$2.50

$6.00

Options and warrants to purchase

22,000

and

200,000

shares of common stock respectively during fiscal

2014

at prices ranging from

$2.50

$11.00

XML 33 R18.htm IDEA: XBRL DOCUMENT

Note 12 - Employee Benefit Plans	12 Months Ended
Note 12 - Employee Benefit Plans	Sep. 30, 2016
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	12. EMPLOYEE BENEFIT PLANS The Company has a 401(k) Savings and Retirement Plan covering all full - time employees. Company contributions to the plan, including matching of employee contributions, are at the Company's discretion. For fiscal years ended September 30, 2016, 2015 and 2014, the Company made matching contributions to the plan in the amount of $14,412 , $15,045 and $16,979, respectively. The Company does not provide any other postretirement benefits to its employees.

XML 34 R19.htm IDEA: XBRL DOCUMENT

Note 13 - Segment and Related Information

12 Months Ended

Sep. 30, 2016

Segment Reporting Disclosure [Text Block]

13.

SEGMENT AND RELATED INFORMATION

The Company's

three

business units have a common management team and infrastructure. The indicators and gauges unit has different technologies and customers than the other business units. Therefore, the business units have been aggregated into

three

reportable segments:

indicators and gauges;

automotive diagnostic tools and equipment; and

flexible metal hose and silicone hose. The Company's management evaluates segment performance based primarily on operating earnings before taxes. Non - operating items such as interest income and interest expense are included in general corporate expenses. Depreciation expense on assets used in manufacturing are considered part of each segment's operating performance. Depreciation expense on non - manufacturing assets is included in general corporate expenses.

Indicators and Gauges:

This segment consists of products manufactured and sold primarily to companies in the aircraft and locomotive industry. Within the aircraft market, the primary customers are those companies that manufacture or service business and pleasure aircraft. Within the locomotive market, indicators and gauges are sold to both original equipment manufacturers and to operators of railroad equipment.

Automotive Diagnostic Tools and Equipment:

Flexible Metal Hose and Silicone Hose:

Information by industry segment is set forth below:

Years Ended September 30,	2016			2015			2014

Net Sales
Indicators and Gauges	$	1,196,204		$	1,298,901		$	1,492,348
Automotive Diagnostic Tools and Equipment		3,688,574			4,554,023			4,813,488
Flexible Metal Hose and Silicone Hose		1,761,002			-			-

	$	6,645,780		$	5,852,924		$	6,305,836

Income (Loss) Before Provision for Income Taxes
Indicators and Gauges	$	161,878		$	260,296		$	312,692
Automotive Diagnostic Tools and Equipment		(18,857	)		679,720			704,427
Flexible Metal Hose and Silicone Hose		166,075			-			-
General Corporate Expenses		1,024,152			(1,062,393	)		(1,008,743	)

	$	1,333,248		$	(122,377	)	$	8,376

Asset Information

Years Ended September 30,	2016		2015

Identifiable Assets
Indicators and Gauges	$	754,149	$	729,520
Automotive Diagnostic Tools and Equipment		1,418,345		2,292,737
Flexible Metal Hose and Silicone Hose		6,784,751		-
Corporate		6,477,510		844,318

	$	15,434,755	$	3,866,575

Geographical Information

Included in the consolidated financial statements are the following amounts related to geographic locations:

Years Ended September 30,	2016		2015		2014

Revenue:
United States of America	$	6,492,423	$	5,678,888	$	6,149,883
Australia		60,412		20,043		64,744
Canada		59,653		75,612		58,983
England		25,789		21,822		6,938
Mexico		6,976		26,902		25,288
Taiwan and other		527		29,657		-

	$	6,645,780	$	5,852,924	$	6,305,836

All export sales to Australia, Canada, England, Mexico, Taiwan and other foreign countries are made in United States of America Dollars.

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8595-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 35
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8984-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8538-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8864-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599

+ Details

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Note 14 - Commitments and Contingencies	12 Months Ended
Note 14 - Commitments and Contingencies	Sep. 30, 2016
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	14. COMMITMENTS AND CONTINGENCIES Legal Matters: The Company is the plaintiff in a suit pursuing patent infringement against a competitor in the emissions market. In December 2016, the Company reached a favorable settlement with the defendant in the suit. Also see note 15, Subsequent Events.

XML 36 R21.htm IDEA: XBRL DOCUMENT

Note 15 - Subsequent Events

12 Months Ended

Sep. 30, 2016

Subsequent Events [Text Block]

15.

SUBSEQUENT EVENTS

The Company has analyzed its operations subsequent to

September

30,

2016

through the date the financial statements were submitted to the Securities and Exchange Commission, and has determined that no subsequent events have occurred that would require recognition in the consolidated financial statements or disclosure in the notes to the consolidated financial statements, except as follows:

On

December

20,

2016,

management entered into Amendment No.

of the Convertible Loan Agreement with Roundball. The amended Convertible Loan Agreement:

Continues to provide approximately

$467,000

of liquidity to meet on going working capital requirements;

Continues to allow

$250,000

of borrowing on the agreement at the Company's discretion at an interest rate of

0.34%;

and

Extends the due date of the loan agreement from

December

30,

2016

December

30,

2017.

December

20,

2016,

in connection with amended Convertible Loan Agreement, management also entered into an Amendment No.

of the Warrant Agreement with Roundball. The amended Warrant Agreements extend the due date of the agreement from

December

30,

2016

December

30,

2017.

December

2016,

the Company settled the suit against Systech (currently known as Opus Inspection, Inc.).

XML 37 R22.htm IDEA: XBRL DOCUMENT

Note 16 - Acquisitions

12 Months Ended

Sep. 30, 2016

Mergers, Acquisitions and Dispositions Disclosures [Text Block]

16.

ACQUISITIONS

The Company purchased Federal Hose Manufacturing LLC on

July

2016

for

$5,851,531

in exchange for the issuance of

911,250

shares of Class A stock for

$847,463,

303,750

shares of Class B Stock for

$235,406,

and issuance of promissory notes payable to First Francis Company Inc. for

$4,768,662.

The purchase price was assigned to the book value of the net assets acquired with the excess over the book value assigned to intangible assets and goodwill.

The purchase price has been allocated to the following accounts:

Cash	$	30,097
Accounts Receivable - trade		834,720
Inventory		1,755,879
Prepaid Expenses		9,909
Fixed Assets		769,000
Customer List		1,280,000
Goodwill		1,777,656

Total Assets Acquired	$	6,457,261


Accounts Payable	$	475,513
Accrued Payroll		14,725
Accrued Expenses		115,725

Total Liabilities Assumed	$	605,730

Net Assets Acquired	$	5,851,531

Acquisition related costs were

$211,951

2016,

$71,939

2015,

and

$150,921

2014.

Also, see Note

Notes Payable - Related Parties, regarding further information regarding the acquisition and notes issued in connection with such acquisition.

XML 38 R23.htm IDEA: XBRL DOCUMENT

Note 17 - Quarterly Data (Unaudited)

12 Months Ended

Sep. 30, 2016

Quarterly Financial Information [Text Block]

17.

QUARTERLY DATA (UNAUDITED)

	First			Second			Third			Fourth

Net Sales
2016	$	1,376,872		$	1,046,624		$	1,530,244		$	2,692,040
2015		1,162,218			1,091,182			1,804,614			1,794,910
2014		1,050,242			1,116,467			2,130,412			2,008,715

Gross Profit
2016		636,351			352,080			760,814			561,720
2015		362,105			381,991			807,794			1,132,731
2014		360,838			428,031			1,124,914			780,893

Net Income (Loss)
2016		(47,189	)		(464,444	)		(8,095	)		5,152,576
2015		(270,656	)		(276,663	)		109,631			315,311
2014		(320,287	)		(297,655	)		386,911			239,407

Net Income (Loss) per Common Share

Basic
2016		(0.03	)		(0.28	)		(0.01	)		2.70
2015		(0.17	)		(0.17	)		0.07			0.19
2014		(0.20	)		(0.18	)		0.24			0.15

Diluted
2016		(0.03	)		(0.28	)		(0.01	)		2.70
2015		(0.17	)		(0.17	)		0.07			0.19
2014		(0.20	)		(0.18	)		0.23			0.14

XML 39 R24.htm IDEA: XBRL DOCUMENT

Schedule II - Valuation and Qualifying Accounts

12 Months Ended

Sep. 30, 2016

Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]

HICKOK INCORPORATED

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS

Col. A

Col. B

Col. C

Col. D

Col. E

Additions

Balance at

Charged to

Balance

Beginning

Costs and

Other

at End

Description

of Period

Expenses

Accounts

Deductions

of Period

Deducted from Asset Accounts:

Year Ended September 30, 2014

Reserve for doubtful accounts	$	10,000	$	(4,446	) (1)	$	-	(2)	$	(4,446	) (3)	$	10,000

Reserve for inventory obsolescence	$	793,000	$	(113,603	) (5)	$	-		$	315,897	(4)	$	363,500

Reserve for product warranty	$	89	$	10,275		$	-		$	10,335		$	9

Valuation allowance deferred taxes	$	4,122,300	$	44,400		$	-		$	-		$	4,166,700

Year Ended September 30, 2015

Reserve for doubtful accounts	$	10,000	$	(3,255	) (1)	$	-	(2)	$	(3,255	) (3)	$	10,000

Reserve for inventory obsolescence	$	363,500	$	(47,045	) (5)	$	-		$	64,955	(4)	$	251,500

Reserve for product warranty	$	9	$	12,555		$	-		$	12,564		$	-

Valuation allowance deferred taxes	$	4,166,700	$	82,200		$	-		$	-		$	4,248,900

Year Ended September 30, 2016

Reserve for doubtful accounts	$	10,000	$	(1,784	) (1)	$	-	(2)	$	(1,784	) (3)	$	10,000

Reserve for inventory obsolescence	$	251,500	$	82,292	(5)	$	-		$	(98,200	) (4)	$	235,592

Reserve for product warranty	$	-	$	8,912		$	-		$	8,912		$	-

Valuation allowance deferred taxes	$	4,248,900	$	(3,681,100	)	$	67,800	(6)	$	-		$	500,000

(1)

Classified as bad debt expense.

(2)

Recoveries on accounts charged off in prior years.

(3)

Accounts charged off during year as uncollectible.

(4)

Inventory charged off during the year as obsolete.

(5)

Reduction in inventory obsolescence reserve.

(6)

Recovery of net operating loss reserve.

XML 40 R25.htm IDEA: XBRL DOCUMENT

Significant Accounting Policies (Policies)

12 Months Ended

Sep. 30, 2016

Accounting Policies [Abstract]

Consolidation, Policy [Policy Text Block]

Principles of Consolidation

The consolidated financial statements include the accounts of Hickok Incorporated and its wholly - owned domestic subsidiaries. Significant intercompany transactions and balances have been eliminated in the financial statements.

New Accounting Pronouncements, Policy [Policy Text Block]

New Accounting Standards

The Company did not incur any material impact to its financial condition or results of operations due to the adoption of any new accounting standards during the periods reported.

March

2016,

the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU

2016

09)

October

2017,

with early adoption permitted. This new standard is not expected to have a significant impact on the Company’s financial statements.

February

2016,

the FASB issued (ASU

2016

02)

October

2019,

with early adoption permitted. We are evaluating the impact this standard will have to our financial statements.

In

May

2014,

the FASB issued its final standard on the recognition of revenue from contracts with customers. The standard, issued as Accounting Standards Update (ASU)

2014

09,

December

15,

2017,

with early adoption prohibited. The Company has not determined the impact of this pronouncement on its financial statements and related disclosure.

June

2016,

the FASB issued ASU

2016

13,

December

31,

2019.

The Company is currently in the process of evaluating the impact of adoption of this ASU on the financial statements.

Concentration Risk, Credit Risk, Policy [Policy Text Block]

Concentration of Credit Risk

% of outstanding receivables at

September

30,

2016

(80%

2015).

Sales to

one

customer approximated

$1,306,000

(2016),

$2,158,000

(2015),

$2,768,000

(2014),

and accounts receivable to this customer amounted to approximately

$52,000

(2016)

and

$741,000

(2015).

Use of Estimates, Policy [Policy Text Block]

Use of Estimates in the Prepa

ration of Financial Statements

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that

may

Fair Value Measurement, Policy [Policy Text Block]

Fair

Value of Financial Instruments

Revenue Recognition, Policy [Policy Text Block]

Revenue Recognition

three

years in the period ending

September

30,

2016.

Standard Product Warranty, Policy [Policy Text Block]

Product Warranties

The Company warrants certain products against defects for primarily

months. The amounts are immaterial during each of the

three

years in the period ending

September

30,

2016.

Research, Development, and Computer Software, Policy [Policy Text Block]

Product Development Costs

Product development costs, which include engineering production support, are expensed as incurred. Research and development performed for customers represents no more than

of sales in each year. The arrangements do not include a repayment obligation by the Company.

Cash and Cash Equivalents, Policy [Policy Text Block]

Cash and Cash Equivalents

For purposes of the Statement of Cash Flows, the Company considers all highly liquid debt instruments purchased with a maturity of

three

months or less to be cash equivalents. From time to time the Company maintains cash balances in excess of the FDIC limits. The cash balance at

September

30,

2016

and

2015

amounted to

$3,060,734

and

$346,405,

respectively.

Receivables, Policy [Policy Text Block]

Accounts Receivable

The Company establishes an allowance for doubtful accounts based upon factors surrounding the credit risk of specific customers, historical trends and other information.

Inventory, Policy [Policy Text Block]

Inventory

Inventory is valued at the lower of cost

(first

- in,

first

- out) or market and consist of:

	2016		2015

Raw materials and component parts	$	1,730,563	$	1,254,294
Work-in-process		438,447		499,752
Finished products		1,139,789		172,467

	$	3,308,799	$	1,926,513

The reserve for inventory obsolescence was

$235,592

and

$251,500

September

30,

2016

and

2015,

respectively.

Property, Plant and Equipment, Policy [Policy Text Block]

Property, Plant and Equipment

Class	Method	Estimated Useful Lives (in years)

Buildings	Straight-line		10	to	40
Machinery and equipment	Straight-line		3	to	10
Tools and dies	Straight-line			3

Depreciation, including depreciation on capitalized leases, amounted to

$133,422

(2016),

$68,686

(2015),

and

$62,195

(2014).

Intangible Assets, Finite-Lived, Policy [Policy Text Block]

Intangible Assets

Intangible assets relate to the purchase of Federal Hose Manufacturing LLC on

July

2016.

Goodwill is not amortized, but will be reviewed on an annual basis for impairment. Amortization of other intangible (Customer list) is being amortized on a straight - line basis over

years. Amortization of other intangibles was

$20,000

(2016),

(2015)

and

(2014).

Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block]

Valuation of Long - Lived Assets

Long - lived assets such as property, plant and equipment and software are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount

may

Shipping and Handling Cost, Policy [Policy Text Block]

Shipping and Handling Costs

Shipping and handling costs are classified as cost of product sold.

Advertising Costs, Policy [Policy Text Block]

Advertising Costs

Advertising costs are expensed as incurred and amounted to

$22,979

(2016),

$22,764

(2015)

and

$9,017

(2014).

Income Tax, Policy [Policy Text Block]

Income Taxes

10).

During the year, the Company adopted the provisions of FASB ASU

2015

17,

Balance Sheet Classification of Deferred Taxes

which requires that deferred taxes are classified as non - current assets and non - current liabilities in the consolidated balance sheet. This guidance has been retrospectively applied.

Earnings Per Share, Policy [Policy Text Block]

Income per Common Share

Income per common share information is computed on the weighted average number of shares outstanding during each period as disclosed in Note

11.

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Note 1 - Nature of Operations (Tables)

12 Months Ended

Sep. 30, 2016

Schedule of Segment Reporting Information, by Segment [Table Text Block]

Product Classes	2016			2015			2014
Automotive Test Equipment		55.5	%		77.8	%		76.3	%
Indicating Instruments		18.0			22.2			23.7
Flexible Hose		26.5			-			-

Total		100.0	%		100.0	%		100.0	%

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Note 2 - Summary of Significant Accounting Policies (Tables)

12 Months Ended

Sep. 30, 2016

Schedule of Inventory, Current [Table Text Block]

	2016		2015

Raw materials and component parts	$	1,730,563	$	1,254,294
Work-in-process		438,447		499,752
Finished products		1,139,789		172,467

	$	3,308,799	$	1,926,513

Property, Plant and Equipment [Table Text Block]

Class	Method	Estimated Useful Lives (in years)

Buildings	Straight-line		10	to	40
Machinery and equipment	Straight-line		3	to	10
Tools and dies	Straight-line			3

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Note 5 - Short - Term Financing (Tables)

12 Months Ended

Sep. 30, 2016

Schedule of Short-term Debt [Table Text Block]

	Amount		Weighted Average Interest Rate

Balance at September 30, 2016	$	250,000		4.00	%
Average during 2016	$	83,333		4.00	%
Maximum during 2016 (month end)	$	250,000		4.00	%
Balance at September 30, 2015	$	-		.00	%
Average during 2015	$	-		.00	%
Maximum during 2015 (month end)	$	-		.00	%

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Note 6 - Notes Payable - Related Parties (Tables)

12 Months Ended

Sep. 30, 2016

Promissory Note 1 and 2 [Member] | First Francis [Member]

	Current Portion 2016		Total September 30, 2016		Total September 30, 2015
In connection with the acquisition of Federal Hose Manufacturing LLC, the Company entered into a promissory note on July 1, 2016 for $2,000,000 loan due to First Francis Company, payable in quarterly installments of $60,911 beginning on October 31, 2016, bearing interest at 4%. The remaining balance of the note shall be payable in full on July 1, 2022. Collateralized by all of the assets of the Company.	$	159,274	$	2,000,000	$	-

In connection with the acquisition of Federal Hose Manufacturing LLC, the Company entered into a promissory note on July 1, 2016 for $2,768,662 loan due to First Francis Company, payable in quarterly installments of $84,321 beginning on October 31, 2016, bearing interest at 4%. The remaining balance of the note shall be payable in full on July 1, 2022. Collateralized by all of the assets of the Company.		220,487		2,768,662		-

	$	379,761		4,768,662		-

Less current portion				379,761		-

			$	4,388,901	$	-

Schedule of Maturities of Long-term Debt [Table Text Block]

	Total Principal Payments
Year Ending, September 30:
2017	$	379,761
2018		411,495
2019		428,203
2020		445,590
2021		463,683
Thereafter		2,639,930

	$	4,768,662

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Note 7 - Leases (Tables)

12 Months Ended

Sep. 30, 2016

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

	Facility		Equipment

2017	$	180,000	$	8,938
2018		180,000		7,443
2019		180,000		-
2020		180,000		-
2021		180,000		-

Total	$	900,000	$	16,381

Schedule of Capital Leases [Table Text Block]

	Current Portion		Total September 30, 2016		Total September 30, 2015
Capital lease obligation on MIS computer equipment and software, payable in monthly installments of $2,059 including interest at approximately 1.04% per annum through December, 2017.	$	24,710	$	28,828	$	-

Capital lease obligation on IT computer equipment and software, payable in monthly installments of $3,888 including interest at approximately 6.57% per annum, through February, 2021.		34,659		175,538		-

	$	59,369		204,366		-

Less current portion				59,369		-

			$	144,997	$	-

Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]

Year Ending	Total Minimum Lease Payment		Less Amount Representing Interest		Present Value of Minimum Lease Obligation

2017	$	70,082	$	10,713	$	59,369
2018		50,772		8,042		42,730
2019		46,654		5,383		41,271
2020		46,345		2,281		44,064
2021		17,141		209		16,932

	$	230,994	$	26,628	$	204,366

Schedule of Capital Leased Assets [Table Text Block]

	2016		2015

Cost	$	247,811	$	-
Depreciation	$	27,673		-

Net Book Value	$	220,138	$	-

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Note 8 - Stock Options (Tables)

12 Months Ended

Sep. 30, 2016

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

				Weighted Average Exercise					Weighted Average Exercise					Weighted Average Exercise
	2016			Price		2015			Price		2014			Price

Option Shares
Directors Plans:
Outstanding October 1,		6,000		$	3.440		22,000		$	5.300		31,000		$	5.570
Granted		-			-		-			-		-			-
Canceled/expired		(1,000	)	$	2.925		(16,000	)	$	6.000		(9,000	)	$	6.230
Exercised		-			-		-			-		-			-
Outstanding September 30, ($2.925 to $11.00 per share)		5,000		$	3.540		6,000		$	3.440		22,000		$	5.300
Exercisable September 30,		5,000		$	3.540		6,000		$	3.440		20,000		$	5.540

Directors Plans [Member]

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]

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		4,000	$	2.925		5.3		4,000	$	2.925
$	6.00		1,000	$	6.000		3.5		1,000	$	6.000

			5,000	$	3.540				5,000	$	3.540

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Note 10 - Income Taxes (Tables)

12 Months Ended

Sep. 30, 2016

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	2016			2015			2014

Income (Loss) Before Provision for (Recovery of) Income Taxes	$	1,333,248		$	(122,377	)	$	8,376
Statutory rate		34	%		34	%		34	%

		453,304			(41,608	)		2,848

Permanent differences		1,000			900			1,200
Research and development and other credits - net		(47,400	)		(48,500	)		(46,300	)
Valuation allowance		(3,681,100	)		82,200			44,400
Other		(25,404	)		7,008			(2,148	)

Total recovery of income taxes	$	(3,299,600	)	$	-		$	-

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	2016			2015

Inventories	$	302,600		$	81,500
Bad debts		3,400			3,400
Accrued liabilities		77,700			70,600
Prepaid expense		(8,900	)		(13,400	)
Depreciation and amortization		93,000			46,700
Research and development and other credit carryforwards		2,019,700			1,980,200
Net operating loss carryforward		1,303,000			1,914,300
Directors stock option plan		40,100			40,100
Acquisition costs		-			125,500

		3,830,600			4,248,900
Valuation allowance		(500,000	)		(4,248,900	)

Total	$	3,330,600		$	-

Summary of Operating Loss Carryforwards [Table Text Block]

Tax Year Expires	NOLS		R& D & Other Credits
2018	$	-	$	44,980
2019		-		166,019
2020		-		195,753
2021		-		125,939
2022		-		48,573
2023		-		107,172
2024		-		156,392
2025		-		155,394
2026		-		139,885
2027		-		154,991
2028		-		152,732
2029		1,587,809		68,676
2030		942,727		31,081
2031		358,744		44,712
2032		622,879		59,085
2033		33,807		111,323
2034		186,708		73,198
2035		99,688		76,429
2036		-		107,315

	$	3,832,362	$	2,019,649

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Note 11 - Earnings Per Common Share (Tables)

12 Months Ended

Sep. 30, 2016

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	2016		2015			2014

Basic Income (Loss) Per Share
Income (Loss) available to common stockholders	$	4,632,848	$	(122,377	)	$	8,376
Shares denominator		1,943,625		1,638,215			1,638,215
Per share amount	$	2.38	$	(.07	)	$	.01

Effect of Dilutive Securities
Average shares outstanding		1,943,625		1,638,215			1,638,215
Options available under convertible note		-		-			31,097

		1,943,625		1,638,215			1,669,312
Diluted Income (Loss) Per Share
Income (Loss) available to common stockholders	$	4,632,848	$	(122,377	)	$	8,376
Per share amount	$	2.38	$	(.07	)	$	.01

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Note 13 - Segment and Related Information (Tables)

12 Months Ended

Sep. 30, 2016

Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]

Years Ended September 30,	2016			2015			2014

Net Sales
Indicators and Gauges	$	1,196,204		$	1,298,901		$	1,492,348
Automotive Diagnostic Tools and Equipment		3,688,574			4,554,023			4,813,488
Flexible Metal Hose and Silicone Hose		1,761,002			-			-

	$	6,645,780		$	5,852,924		$	6,305,836

Income (Loss) Before Provision for Income Taxes
Indicators and Gauges	$	161,878		$	260,296		$	312,692
Automotive Diagnostic Tools and Equipment		(18,857	)		679,720			704,427
Flexible Metal Hose and Silicone Hose		166,075			-			-
General Corporate Expenses		1,024,152			(1,062,393	)		(1,008,743	)

	$	1,333,248		$	(122,377	)	$	8,376

Reconciliation of Assets from Segment to Consolidated [Table Text Block]

Years Ended September 30,	2016		2015

Identifiable Assets
Indicators and Gauges	$	754,149	$	729,520
Automotive Diagnostic Tools and Equipment		1,418,345		2,292,737
Flexible Metal Hose and Silicone Hose		6,784,751		-
Corporate		6,477,510		844,318

	$	15,434,755	$	3,866,575

Revenue from External Customers by Geographic Areas [Table Text Block]

Years Ended September 30,	2016		2015		2014

Revenue:
United States of America	$	6,492,423	$	5,678,888	$	6,149,883
Australia		60,412		20,043		64,744
Canada		59,653		75,612		58,983
England		25,789		21,822		6,938
Mexico		6,976		26,902		25,288
Taiwan and other		527		29,657		-

	$	6,645,780	$	5,852,924	$	6,305,836

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Note 16 - Acquisitions (Tables)

12 Months Ended

Sep. 30, 2016

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

Cash	$	30,097
Accounts Receivable - trade		834,720
Inventory		1,755,879
Prepaid Expenses		9,909
Fixed Assets		769,000
Customer List		1,280,000
Goodwill		1,777,656

Total Assets Acquired	$	6,457,261


Accounts Payable	$	475,513
Accrued Payroll		14,725
Accrued Expenses		115,725

Total Liabilities Assumed	$	605,730

Net Assets Acquired	$	5,851,531

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Note 17 - Quarterly Data (Unaudited) (Tables)

12 Months Ended

Sep. 30, 2016

Quarterly Financial Information [Table Text Block]

	First			Second			Third			Fourth

Net Sales
2016	$	1,376,872		$	1,046,624		$	1,530,244		$	2,692,040
2015		1,162,218			1,091,182			1,804,614			1,794,910
2014		1,050,242			1,116,467			2,130,412			2,008,715

Gross Profit
2016		636,351			352,080			760,814			561,720
2015		362,105			381,991			807,794			1,132,731
2014		360,838			428,031			1,124,914			780,893

Net Income (Loss)
2016		(47,189	)		(464,444	)		(8,095	)		5,152,576
2015		(270,656	)		(276,663	)		109,631			315,311
2014		(320,287	)		(297,655	)		386,911			239,407

Net Income (Loss) per Common Share

Basic
2016		(0.03	)		(0.28	)		(0.01	)		2.70
2015		(0.17	)		(0.17	)		0.07			0.19
2014		(0.20	)		(0.18	)		0.24			0.15

Diluted
2016		(0.03	)		(0.28	)		(0.01	)		2.70
2015		(0.17	)		(0.17	)		0.07			0.19
2014		(0.20	)		(0.18	)		0.23			0.14

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Schedule II - Valuation and Qualifying Accounts (Tables)

12 Months Ended

Sep. 30, 2016

Schedule Of Valuation and Qualifying Accounts [Table Text Block]

Year Ended September 30, 2014

Reserve for doubtful accounts	$	10,000	$	(4,446	) (1)	$	-	(2)	$	(4,446	) (3)	$	10,000

Reserve for inventory obsolescence	$	793,000	$	(113,603	) (5)	$	-		$	315,897	(4)	$	363,500

Reserve for product warranty	$	89	$	10,275		$	-		$	10,335		$	9

Valuation allowance deferred taxes	$	4,122,300	$	44,400		$	-		$	-		$	4,166,700

Year Ended September 30, 2015

Reserve for doubtful accounts	$	10,000	$	(3,255	) (1)	$	-	(2)	$	(3,255	) (3)	$	10,000

Reserve for inventory obsolescence	$	363,500	$	(47,045	) (5)	$	-		$	64,955	(4)	$	251,500

Reserve for product warranty	$	9	$	12,555		$	-		$	12,564		$	-

Valuation allowance deferred taxes	$	4,166,700	$	82,200		$	-		$	-		$	4,248,900

Year Ended September 30, 2016

Reserve for doubtful accounts	$	10,000	$	(1,784	) (1)	$	-	(2)	$	(1,784	) (3)	$	10,000

Reserve for inventory obsolescence	$	251,500	$	82,292	(5)	$	-		$	(98,200	) (4)	$	235,592

Reserve for product warranty	$	-	$	8,912		$	-		$	8,912		$	-

Valuation allowance deferred taxes	$	4,248,900	$	(3,681,100	)	$	67,800	(6)	$	-		$	500,000

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Note 1 - Nature of Operations - Summary of Company's Product Classes (Details)	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014
Product Classes	100.00%	100.00%	100.00%
Automotive Test Equipment [Member]
Product Classes	55.50%	77.80%	76.30%
Indicating Instruments [Member]
Product Classes	18.00%	22.20%	23.70%
Flexible Hose [Member]
Product Classes	26.50%

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Note 2 - Summary of Significant Accounting Policies (Details Textual)	3 Months Ended												12 Months Ended
	Sep. 30, 2016 USD ($)	Jun. 30, 2016 USD ($)	Mar. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Sep. 30, 2015 USD ($)	Jun. 30, 2015 USD ($)	Mar. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Sep. 30, 2014 USD ($)	Jun. 30, 2014 USD ($)	Mar. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)	Sep. 30, 2016 USD ($)	Sep. 30, 2015 USD ($)	Sep. 30, 2014 USD ($)	Sep. 30, 2013 USD ($)
Revenue, Net	$ 2,692,040	$ 1,530,244	$ 1,046,624	$ 1,376,872	$ 1,794,910	$ 1,804,614	$ 1,091,182	$ 1,162,218	$ 2,008,715	$ 2,130,412	$ 1,116,467	$ 1,050,242	$ 6,645,780	$ 5,852,924	$ 6,305,836
Cash and Cash Equivalents, at Carrying Value	3,060,734				346,405				$ 390,327				3,060,734	346,405	390,327	$ 938,852
Inventory Valuation Reserves	235,592				251,500								235,592	251,500
Depreciation													133,422	68,686	62,195
Advertising Expense													$ 22,979	22,764	9,017
Customer Lists [Member]
Finite-Lived Intangible Asset, Useful Life													11 years
Amortization of Intangible Assets													$ 20,000	$ 0	$ 0
Accounts Receivable [Member] \| Automotive Industry [Member]
Concentration Risk, Percentage													17.00%	80.00%
Accounts Receivable [Member] \| Customer Concentration Risk [Member]
Accounts Receivable, Net	$ 52,000				$ 741,000								$ 52,000	$ 741,000
Sales Revenue, Goods, Net [Member] \| Customer Concentration Risk [Member]
Number of Customers													1	1	1
Revenue, Net													$ 1,306,000	$ 2,158,000	$ 2,768,000

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Note 2 - Summary of Significant Accounting Policies - Inventories Summary (Details) - USD ($)	Sep. 30, 2016	Sep. 30, 2015
Raw materials and component parts	$ 1,730,563	$ 1,254,294
Work-in-process	438,447	499,752
Finished products	1,139,789	172,467
	$ 3,308,799	$ 1,926,513

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Note 2 - Summary of Significant Accounting Policies - Property, Plant and Equipment Useful Lives (Details)	12 Months Ended
	Sep. 30, 2016
Tools, Dies and Molds [Member]
Property, Plant and Equipment Useful Lives (Year)	3 years
Minimum [Member] \| Building [Member]
Property, Plant and Equipment Useful Lives (Year)	10 years
Minimum [Member] \| Machinery and Equipment [Member]
Property, Plant and Equipment Useful Lives (Year)	3 years
Maximum [Member] \| Building [Member]
Property, Plant and Equipment Useful Lives (Year)	40 years
Maximum [Member] \| Machinery and Equipment [Member]
Property, Plant and Equipment Useful Lives (Year)	10 years

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Note 3 - Notes Receivable (Details Textual)	12 Months Ended
Note 3 - Notes Receivable (Details Textual)	Sep. 30, 2016
Unsecured Note Receivable Interest Rate	3.00%

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Note 4 - Convertible Notes Payable (Details Textual) - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013	Dec. 20, 2016	Dec. 30, 2012	Dec. 30, 2011
Line of Credit Facility, Fair Value of Amount Outstanding	$ 200,000
Fair Value Assumptions, Risk Free Interest Rate				0.42%
Fair Value Assumptions, Expected Term				3 years
Fair Value Assumptions, Expected Dividend Rate				0.00%
Fair Value Assumptions, Weighted Average Volatility Rate				0.84%
Interest Paid	11,830	$ 1,858	$ 6,174
Amendment No. 1 [Member] \| Warrant to Purchase Class A Common Stock [Member] \| Roundball LLC [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights						$ 2.50
Roundball LLC [Member]
Interest Expense, Debt	691	644	$ 228
Interest Paid	$ 691	$ 1,176
Roundball LLC [Member] \| Warrant to Purchase Class A Common Stock [Member]
Warrant Term	1 year
Roundball LLC [Member] \| Amendment No. 5 [Member] \| Subsequent Event [Member]
Working Capital Funding					$ 467,000
Line of Credit Facility, Maximum Borrowing Capacity					$ 250,000
Debt Instrument, Interest Rate, Stated Percentage					0.34%
Roundball LLC [Member] \| Amendment No. 1 [Member] \| Warrant to Purchase Class A Common Stock [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights						100,000
Director [Member] \| Roundball LLC [Member] \| Convertible Notes Payable [Member]
Working Capital Funding							$ 467,000
Line of Credit Facility, Maximum Borrowing Capacity							$ 250,000
Debt Instrument, Interest Rate, Stated Percentage							0.25%

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Note 5 - Short - Term Financing (Details Textual) - USD ($)			12 Months Ended
	Oct. 11, 2016	Jun. 03, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014
Interest Expense			$ 59,386	$ 657	$ 6,592
Interest Paid			11,830	$ 1,858	$ 6,174
Revolving Credit Facility [Member] \| First Francis [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 250,000
Line of Credit Facility, Interest Rate During Period		4.00%
Interest Expense			2,889
Interest Paid			2,889
Long-term Line of Credit			$ 250,000
Revolving Credit Facility [Member] \| First Francis [Member] \| Subsequent Event [Member]
Repayments of Lines of Credit	$ 250,000

Allowance for Doubtful Accounts [Member]

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

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Note 5 - Short - Term Financing - Summary of Short-term Borrowings (Details) - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Balance at September 30, 2015, Amount	$ 250,000
Balance at September 30, 2016	4.00%	0.00%
Average during 2015, Amount	$ 83,333
Maximum during 2015 (month end), Amount	$ 250,000

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Note 6 - Notes Payable - Related Parties - Notes Due to Related Parties (Details) - USD ($)	Sep. 30, 2016	Sep. 30, 2015
Notes payable, related parties, current	$ 379,761
	4,388,901
First Francis [Member]
Notes payable, related parties, current	379,761
Notes payable, related parties, current	4,768,662
	4,388,901
First Francis [Member] \| Promissory Note 1 [Member]
Notes payable, related parties, current	159,274
Notes payable, related parties, current	2,000,000
First Francis [Member] \| Promissory Note 2 [Member]
Notes payable, related parties, current	$ 220,487
Notes payable, related parties, current		$ 2,768,662

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Note 6 - Notes Payable - Related Parties - Notes Due to Related Parties (Details) (Parentheticals) - First Francis [Member]	12 Months Ended
	Sep. 30, 2016 USD ($)
Promissory Note 1 [Member]
Notes payable, face value	$ 2,000,000
Notes payable, quarterly payment	$ 60,911
Debt Instrument, Interest Rate, Stated Percentage	4.00%
Promissory Note 2 [Member]
Notes payable, face value	$ 2,768,662
Notes payable, quarterly payment	$ 84,321
Debt Instrument, Interest Rate, Stated Percentage	4.00%

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Note 6 - Notes Payable - Related Parties - Schedule of Future Payments (Details) - First Francis [Member]	Sep. 30, 2016 USD ($)
2017	$ 379,761
2018	411,495
2019	428,203
2020	445,590
2021	463,683
Thereafter	2,639,930
	$ 4,768,662

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Note 7 - Leases (Details Textual) - USD ($)	12 Months Ended
Note 7 - Leases (Details Textual) - USD ($)	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014
Operating Leases, Rent Expense	$ 57,767	$ 11,382	$ 10,521
Capital Leased Assets Net Book Value	$ 0

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Note 7 - Leases - The Company's Minimum Commitment Under Operating Leases (Details)	Sep. 30, 2016 USD ($)
Facility [Member]
2017	$ 180,000
2018	180,000
2019	180,000
2020	180,000
2021	180,000
Total	900,000
Equipment [Member]
2017	8,938
2018	7,443
2019
2020
2021
Total	$ 16,381

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Note 7 - Leases - Capital Leased Assets (Details) - USD ($)	Sep. 30, 2016	Sep. 30, 2015
Capital lease obligation, current portion	$ 59,369
Capital lease obligation	204,366
	144,997
Assets Held Under Capital Leases, MIS Computer Equipment [Member]
Capital lease obligation, current portion	24,710
Capital lease obligation	28,828
Assets Held Under Capital Leases, IT Computer Equipment [Member]
Capital lease obligation, current portion	34,659
Capital lease obligation	$ 175,538

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Note 7 - Leases - Capital Leased Assets (Details) (Parentheticals) - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Assets Held Under Capital Leases, MIS Computer Equipment [Member]
Monthly Installment	$ 2,059
Assets Held Under Capital Leases, MIS Computer Equipment [Member] \| Debt Instrument, Maturing at December, 2017 [Member]
Interest rate	1.04%
Assets Held Under Capital Leases, IT Computer Equipment [Member]
Monthly Installment	$ 3,888
Assets Held Under Capital Leases, IT Computer Equipment [Member] \| Debt Instrument, Maturing at February, 2021 [Member]
Interest rate	6.57%

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Note 7 - Leases - Future Minimum Capital Lease Payments (Details)	Sep. 30, 2016 USD ($)
Minimum lease payment, 2017	$ 70,082
Interest, 2017	10,713
Present value of obligation, 2017	59,369
Minimum lease payment, 2018	50,772
Interest, 2018	8,042
Present value of obligation, 2018	42,730
Minimum lease payment, 2019	46,654
Interest, 2019	5,383
Present value of obligation, 2019	41,271
Minimum lease payment, 2020	46,345
Interest, 2020	2,281
Present value of obligation, 2020	44,064
Minimum lease payment, 2021	17,141
Interest, 2021	209
Present value of obligation, 2021	16,932
Minimum lease payment	230,994
Interest	26,628
Present value of obligation	$ 204,366

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Note 7 - Leases - Assets Acquired Under Lease (Details) - USD ($)	Sep. 30, 2016	Sep. 30, 2015
Cost	$ 247,811
Depreciation	27,673
Net Book Value	$ 220,138

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Note 8 - Stock Options (Details Textual) - USD ($)	12 Months Ended
Note 8 - Stock Options (Details Textual) - USD ($)	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014	Feb. 27, 2013
Directors Plans [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	10 years
Allocated Share-based Compensation Expense	$ 0	$ 543	$ 2,837
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 0
Common Class A [Member]
Common Stock, Capital Shares Reserved for Future Issuance	832,233	933,233
Common Class A [Member] \| Omnibus 2013 Equity Plan [Member]
Common Stock, Capital Shares Reserved for Future Issuance				150,000
Common Class A [Member] \| Directors Plans [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	5,000

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Note 8 - Stock Options - Transactions Involving the Directors Plans (Details) - Employee Plans [Member] - $ / shares	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014
Outstanding October 1, (in shares)	6,000	22,000	31,000
Outstanding October 1, (in dollars per share)	$ 3.44	$ 5.30	$ 5.57
Granted (in shares)
Granted (in dollars per share)
Canceled/expired (in shares)	(1,000)	(16,000)	(9,000)
Canceled/expired (in dollars per share)	$ 2.925	$ 6	$ 6.23
Outstanding September 30, ($2.925 to $11.00 per share) (in shares)	5,000	6,000	22,000
Outstanding September 30, ($2.925 to $11.00 per share) (in dollars per share)	$ 3.54	$ 3.44	$ 5.30
Exercisable September 30, (in shares)	5,000	6,000	20,000
Exercisable September 30, (in dollars per share)	$ 3.54	$ 3.44	$ 5.54

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Note 8 - Stock Options - Summary of Expired Director Plans (Details)	12 Months Ended
	Sep. 30, 2016 $ / shares shares
Outstanding Stock Options (in shares) \| shares	5,000
Weighted Average Exercise Price, Outstanding (in dollars per share)	$ 3.54
Number of Stock Options Exercisable (in shares) \| shares	5,000
Weighted Average Exercise Price, Exercisable (in dollars per share)	$ 3.54
Exercise Price Range 1 [Member]
Outstanding Stock Options (in shares) \| shares	4,000
Weighted Average Exercise Price, Outstanding (in dollars per share)	$ 2.925
Weighted Average Remaining Life (Year)	5 years 109 days
Number of Stock Options Exercisable (in shares) \| shares	4,000
Weighted Average Exercise Price, Exercisable (in dollars per share)	$ 2.925
Range of Exercise Price, Lower Limit (in dollars per share)	$ 2.925
Exercise Price Range 2 [Member]
Outstanding Stock Options (in shares) \| shares	1,000
Weighted Average Exercise Price, Outstanding (in dollars per share)	$ 6
Weighted Average Remaining Life (Year)	3 years 182 days
Number of Stock Options Exercisable (in shares) \| shares	1,000
Weighted Average Exercise Price, Exercisable (in dollars per share)	$ 6
Range of Exercise Price, Upper Limit (in dollars per share)	$ 6

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Note 9 - Capital Stock, Treasury Stock, and Contributed Capital (Details Textual)	Sep. 30, 2016 $ / shares shares	Sep. 30, 2015 shares
Preferred Stock, Shares Authorized	1,000,000	1,000,000
Common Class A [Member]
Common Stock, Shares Authorized	10,000,000	10,000,000
Common Stock, Capital Shares Reserved for Future Issuance	832,233	933,233
Common Stock, Voting Rights, per Share	1
Common Class A [Member] \| Minimum [Member]
Dividends Payable, Amount Per Share \| $ / shares	$ 0.10
Common Class B [Member]
Common Stock, Shares Authorized	2,500,000	2,500,000
Common Stock, Voting Rights, per Share	3

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Note 10 - Income Taxes (Details Textual) - USD ($)	12 Months Ended
Note 10 - Income Taxes (Details Textual) - USD ($)	Sep. 30, 2016	Sep. 30, 2015
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	$ (3,748,900)	$ 82,200
Research and Development Credits Expiration [Member]
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	67,800
Likely Utilization of Net Operating Loss and Credit Carryforwards [Member]
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	$ 3,681,000

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Note 10 - Income Taxes - Income Tax Reconciliation (Details) - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014
Income (Loss) Before Provision for (Recovery of) Income Taxes	$ 1,333,248	$ (122,377)	$ 8,376
Statutory rate	34.00%	34.00%	34.00%
	$ 453,304	$ (41,608)	$ 2,848
Permanent differences	1,000	900	1,200
Research and development and other credits - net	(47,400)	(48,500)	(46,300)
Valuation allowance	(3,681,100)	82,200	44,400
Other	(25,404)	7,008	(2,148)
	$ (3,299,600)

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Note 10 - Income Taxes - Deferred Tax Assets (Liabilities) (Details) - USD ($)	Sep. 30, 2016	Sep. 30, 2015
Inventories	$ 302,600	$ 81,500
Bad debts	3,400	3,400
Accrued liabilities	77,700	70,600
Prepaid expense	(8,900)	(13,400)
Depreciation and amortization	93,000	46,700
Research and development and other credit carryforwards	2,019,700	1,980,200
Net operating loss carryforward	1,303,000	1,914,300
Directors stock option plan	40,100	40,100
Acquisition costs		125,500
	3,830,600	4,248,900
Valuation allowance	(500,000)	(4,248,900)
Total	$ 3,330,600	$ 0

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Note 10 - Income Taxes - Net Operating Loss and Tax Credit Carryforwards (Details)	Sep. 30, 2016 USD ($)
Net Operating Loss	$ 3,832,362
Research & Development & Other Tax Credits [Member]
R&D & Other Credits	2,019,649
Expires in Tax Year 2018 [Member]
Net Operating Loss
Expires in Tax Year 2018 [Member] \| Research & Development & Other Tax Credits [Member]
R&D & Other Credits	44,980
Expires in Tax Year 2019 [Member]
Net Operating Loss
Expires in Tax Year 2019 [Member] \| Research & Development & Other Tax Credits [Member]
R&D & Other Credits	166,019
Expires in Tax Year 2020 [Member]
Net Operating Loss
Expires in Tax Year 2020 [Member] \| Research & Development & Other Tax Credits [Member]
R&D & Other Credits	195,753
Expires in Tax Year 2021 [Member]
Net Operating Loss
Expires in Tax Year 2021 [Member] \| Research & Development & Other Tax Credits [Member]
R&D & Other Credits	125,939
Expires in Tax Year 2022 [Member]
Net Operating Loss
Expires in Tax Year 2022 [Member] \| Research & Development & Other Tax Credits [Member]
R&D & Other Credits	48,573
Expires in Tax Year 2023 [Member]
Net Operating Loss
Expires in Tax Year 2023 [Member] \| Research & Development & Other Tax Credits [Member]
R&D & Other Credits	107,172
Expires in Tax Year 2024 [Member]
Net Operating Loss
Expires in Tax Year 2024 [Member] \| Research & Development & Other Tax Credits [Member]
R&D & Other Credits	156,392
Expires in Tax Year 2025 [Member]
Net Operating Loss
Expires in Tax Year 2025 [Member] \| Research & Development & Other Tax Credits [Member]
R&D & Other Credits	155,394
Expires in Tax Year 2026 [Member]
Net Operating Loss
Expires in Tax Year 2026 [Member] \| Research & Development & Other Tax Credits [Member]
R&D & Other Credits	139,885
Expires in Tax Year 2027 [Member]
Net Operating Loss
Expires in Tax Year 2027 [Member] \| Research & Development & Other Tax Credits [Member]
R&D & Other Credits	154,991
Expires in Tax Year 2028 [Member]
Net Operating Loss
Expires in Tax Year 2028 [Member] \| Research & Development & Other Tax Credits [Member]
R&D & Other Credits	152,732
Expires in Tax Year 2029 [Member]
Net Operating Loss	1,587,809
Expires in Tax Year 2029 [Member] \| Research & Development & Other Tax Credits [Member]
R&D & Other Credits	68,676
Expires in Tax Year 2030 [Member]
Net Operating Loss	942,727
Expires in Tax Year 2030 [Member] \| Research & Development & Other Tax Credits [Member]
R&D & Other Credits	31,081
Expires in Tax Year 2031 [Member]
Net Operating Loss	358,744
Expires in Tax Year 2031 [Member] \| Research & Development & Other Tax Credits [Member]
R&D & Other Credits	44,712
Expires in Tax Year 2032 [Member]
Net Operating Loss	622,879
Expires in Tax Year 2032 [Member] \| Research & Development & Other Tax Credits [Member]
R&D & Other Credits	59,085
Expires in Tax Year 2033 [Member]
Net Operating Loss	33,807
Expires in Tax Year 2033 [Member] \| Research & Development & Other Tax Credits [Member]
R&D & Other Credits	111,323
Expires in Tax Year 2034 [Member]
Net Operating Loss	186,708
Expires in Tax Year 2034 [Member] \| Research & Development & Other Tax Credits [Member]
R&D & Other Credits	73,198
Expires in Tax Year 2035 [Member]
Net Operating Loss	99,688
Expires in Tax Year 2035 [Member] \| Research & Development & Other Tax Credits [Member]
R&D & Other Credits	76,429
Expires in Tax Year 2036 [Member]
Net Operating Loss
Expires in Tax Year 2036 [Member] \| Research & Development & Other Tax Credits [Member]
R&D & Other Credits	$ 107,315

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Note 11 - Earnings Per Common Share (Details Textual) - $ / shares	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	5,000	6,000	22,000
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	100,000	200,000	200,000
Options and Warrants [Member] \| Minimum [Member]
Share Price	$ 2.50	$ 2.50	$ 2.50
Options and Warrants [Member] \| Maximum [Member]
Share Price	$ 6	$ 6	$ 11

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Note 11 - Earnings Per Common Share - Summary of Earnings Per Share Calculation (Details) - USD ($)	3 Months Ended												12 Months Ended
	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014
Basic Income (Loss) Per Share
Income (Loss) available to common stockholders													$ 4,632,848	$ (122,377)	$ 8,376
Shares denominator (in shares)													1,943,625	1,638,215	1,638,215
Per share amount (in dollars per share)	$ 2.70	$ (0.01)	$ (0.28)	$ (0.03)	$ 0.19	$ 0.07	$ (0.17)	$ (0.17)	$ 0.15	$ 0.24	$ (0.18)	$ (0.20)	$ 2.38	$ (0.07)	$ 0.01
Effect of Dilutive Securities
Average shares outstanding (in shares)													1,943,625	1,638,215	1,638,215
Options available under convertible note (in shares)															31,097
(in shares)													1,943,625	1,638,215	1,669,312
Diluted Income (Loss) Per Share
Income (Loss) available to common stockholders													$ 4,632,848	$ (122,377)	$ 8,376
Per share amount (in dollars per share)	$ 2.70	$ (0.01)	$ (0.28)	$ (0.03)	$ 0.19	$ 0.07	$ (0.17)	$ (0.17)	$ 0.14	$ 0.23	$ (0.18)	$ (0.20)	$ 2.38	$ (0.07)	$ 0.01

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Note 12 - Employee Benefit Plans (Details Textual) - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 14,412	$ 15,045	$ 16,979

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Note 13 - Segment and Related Information (Details Textual)	12 Months Ended
	Sep. 30, 2016
Number of Operating Segments	3
Number of Reportable Segments	3

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Note 13 - Segment and Related Information - Information By Industry Segment (Details) - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014
Revenue	$ 6,645,780	$ 5,852,924	$ 6,305,836
Income (Loss) Before Provision for Income Taxes
Income (Loss) before provision for Income Taxes	1,333,248	(122,377)	8,376
Corporate, Non-Segment [Member]
Income (Loss) Before Provision for Income Taxes
Income (Loss) before provision for Income Taxes	1,024,152	(1,062,393)	(1,008,743)
Indicators and Gauges [Member] \| Operating Segments [Member]
Revenue	1,196,204	1,298,901	1,492,348
Income (Loss) Before Provision for Income Taxes
Income (Loss) before provision for Income Taxes	161,878	260,296	312,692
Automotive Diagnostic Tools and Equipment [Member] \| Operating Segments [Member]
Revenue	3,688,574	4,554,023	4,813,488
Income (Loss) Before Provision for Income Taxes
Income (Loss) before provision for Income Taxes	(18,857)	679,720	704,427
Flexible Metal Hose and Silicone Hose [Member] \| Operating Segments [Member]
Revenue	1,761,002
Income (Loss) Before Provision for Income Taxes
Income (Loss) before provision for Income Taxes	$ 166,075

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Note 13 - Segment and Related Information - Asset Information (Details) - USD ($)	Sep. 30, 2016	Sep. 30, 2015
Identifiable Assets
Assets	$ 15,434,755	$ 3,866,575
Corporate, Non-Segment [Member]
Identifiable Assets
Assets	6,477,510	844,318
Indicators and Gauges [Member] \| Operating Segments [Member]
Identifiable Assets
Assets	754,149	729,520
Automotive Diagnostic Tools and Equipment [Member] \| Operating Segments [Member]
Identifiable Assets
Assets	1,418,345	2,292,737
Flexible Metal Hose and Silicone Hose [Member] \| Operating Segments [Member]
Identifiable Assets
Assets	$ 6,784,751

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Note 13 - Segment and Related Information - Revenue By Geographic Location (Details) - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014
Revenues	$ 6,645,780	$ 5,852,924	$ 6,305,836
UNITED STATES
Revenues	6,492,423	5,678,888	6,149,883
AUSTRALIA
Revenues	60,412	20,043	64,744
CANADA
Revenues	59,653	75,612	58,983
England [Member]
Revenues	25,789	21,822	6,938
MEXICO
Revenues	6,976	26,902	25,288
Taiwan and Other [Member]
Revenues	$ 527	$ 29,657

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Note 15 - Subsequent Events (Details Textual) - Roundball LLC [Member] - Amendment No. 5 [Member] - Subsequent Event [Member]	Dec. 20, 2016 USD ($)
Working Capital Funding	$ 467,000
Line of Credit Facility, Maximum Borrowing Capacity	$ 250,000
Debt Instrument, Interest Rate, Stated Percentage	0.34%

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Note 16 - Acquisitions (Details Textual) - Federal Hose [Member] - USD ($)		12 Months Ended
	Jul. 01, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014
Business Combination, Consideration Transferred	$ 5,851,531
Business Combination, Acquisition Related Costs		$ 211,951	$ 71,939	$ 150,921
First Francis [Member] \| Promissory Note 1 and 2 [Member]
Business Combination, Consideration Transferred, Liabilities Incurred	$ 4,768,662
Common Class A [Member] \| First Francis [Member]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	911,250
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned	$ 847,463
Common Class B [Member] \| First Francis [Member]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	303,750
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned	$ 235,406

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Note 16 - Acquisitions - Summary Assets Acquired and Liabilities Assumed (Details) - USD ($)	Sep. 30, 2016	Jul. 01, 2016
Goodwill	$ 1,777,656
Federal Hose [Member]
Cash		$ 30,097
Accounts Receivable - trade		834,720
Inventory		1,755,879
Prepaid Expenses		9,909
Fixed Assets		769,000
Goodwill		1,777,656
Total Assets Acquired		6,457,261
Accounts Payable		475,513
Accrued Payroll		14,725
Accrued Expenses		115,725
Total Liabilities Assumed		605,730
Net Assets Acquired		5,851,531
Federal Hose [Member] \| Customer Lists [Member]
Customer List		$ 1,280,000

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Note 17 - Quarterly Data (Unaudited) - Summary of Quarterly Data (Unaudited) (Details) - USD ($)	3 Months Ended												12 Months Ended
	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014
Revenue, Net	$ 2,692,040	$ 1,530,244	$ 1,046,624	$ 1,376,872	$ 1,794,910	$ 1,804,614	$ 1,091,182	$ 1,162,218	$ 2,008,715	$ 2,130,412	$ 1,116,467	$ 1,050,242	$ 6,645,780	$ 5,852,924	$ 6,305,836
Gross Profit	561,720	760,814	352,080	636,351	1,132,731	807,794	381,991	362,105	780,893	1,124,914	428,031	360,838
Net Income (Loss)	$ 5,152,576	$ (8,095)	$ (464,444)	$ (47,189)	$ 315,311	$ 109,631	$ (276,663)	$ (270,656)	$ 239,407	$ 386,911	$ (297,655)	$ (320,287)	$ 4,632,848	$ (122,377)	$ 8,376
Basic (in dollars per share)	$ 2.70	$ (0.01)	$ (0.28)	$ (0.03)	$ 0.19	$ 0.07	$ (0.17)	$ (0.17)	$ 0.15	$ 0.24	$ (0.18)	$ (0.20)	$ 2.38	$ (0.07)	$ 0.01
Per share amount (in dollars per share)	$ 2.70	$ (0.01)	$ (0.28)	$ (0.03)	$ 0.19	$ 0.07	$ (0.17)	$ (0.17)	$ 0.14	$ 0.23	$ (0.18)	$ (0.20)	$ 2.38	$ (0.07)	$ 0.01

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Schedule II - Valuation and Qualifying Accounts - Summary of Valuation and Qualifying Accounts (Details) - USD ($)

12 Months Ended

Sep. 30, 2016

Sep. 30, 2015

Sep. 30, 2014

$ 10,000

^[1]

(1,784)

(3,255)

(4,446)

^[2]

^[3]

(1,784)

(3,255)

(4,446)

Inventory Valuation Reserve [Member]

10,000

251,500

363,500

793,000

^[4]

82,292

(47,045)

(113,603)

^[5]

(98,200)

64,955

315,897

Warranty Reserves [Member]

235,592

251,500

363,500

8,912

12,555

10,275

8,912

12,564

10,335

Valuation Allowance of Deferred Tax Assets [Member]

4,248,900

4,166,700

4,122,300

(3,681,100)

82,200

44,400

67,800

^[6]