Note 9 - Impairment of Long-lived Assets

9 Months Ended

Jun. 30, 2017

Notes to Financial Statements

Impairment of Long-lived Assets [Text Block]

Note

9.

Impairment of Long-Lived Assets

The Company assesses potential impairments to its long-lived assets or asset groups when there is evidence that events occur or changes in circumstances indicate that the carrying amount of an asset or asset group

may

not

be recovered. An impairment loss is recognized when the carrying amount of the long-lived asset or asset group is

not

recoverable and exceeds its fair value. The carrying amount of a long-lived asset or asset group is

not

recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset or asset group.

Any required impairment loss is measured as the amount by which the carrying amount of a long-lived asset or asset group exceeds its fair value and is recorded as a reduction in the carrying value of the related asset or asset group and a charge to operating results. During the

three

and

nine

months ended

June 30, 2017,

the Company incurred an impairment charge on long-lived assets of

$643,604

.

This impairment was related to the cancellation of an enterprise resource planning software implementation.

No

impairment of long-lived assets occurred during the

three

and

nine

months ended

June 30, 2016.