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Stockholders' Equity (Tables)

12 Months Ended

Sep. 30, 2014


	Per Share		Total
Public offering price	$	2.500	$	5,500,000
Underwriting discounts and commissions	$	0.175	$	385,000
Proceeds, before expenses, to us	$	2.325	$	5,115,000
Expenses, to us	$	0.207	$	456,000
Net proceeds, to us	$	2.118	$	4,659,000

Schedule of Weighted Average Assumptions Used to Estimate Fair Value of Stock Option Grants

In addition to the exercise and grant date prices of the stock option awards, certain weighted average assumptions that were used to estimate the fair value of stock option grants are listed in the following table:


	Fiscal 2013 Incentive Stock Options		Fiscal 2013 Non-Statutory Stock Options		Fiscal 2014 Incentive Stock Options
Expected term (years)		6.5		6.4 to 7.1		6.5
Expected volatility		110.5%		106% to 112.3%		112.11%
Risk-free interest rate		1.13%		1.28% to 1.84%		1.94%
Expected dividends		0		0		0

Schedule of Stock Option Activity under Share Based Compensation Plan

The following table summarizes stock option activity for fiscal year 2014 under all plans:


	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Yrs.)		Aggregate Intrinsic Value
Outstanding-beg of year		324,853		$	4.35
Options granted		89,500		$	2.48
Options exercised		(10,326	)	$	1.99
Forfeited		0
Expired		(7,117	)	$	10.80
Outstanding Sept 30, 2014		396,910		$	3.87		7.1	$	1,281,000
Exercisable Sept 30, 2014		196,989		$	5.38		5.5	$	559,000

Schedule of Non-vested Restricted Stock Activity

A summary of the status of non-vested restricted stock as of September 30, 2014 and changes during fiscal 2014 is presented below.


	Shares	Weighted Average Grant Date Fair Value Per Share
Non-vested shares at beg of year	0
Granted	123,840	$3.23
Vested	0
Non-vested shares at Sept 30, 2014	123,840	$3.23

Schedule of Warrant Activity

A summary of warrant activity for the fiscal year ended September 30, 2014 is presented in the following table:


	Number of Shares			Weighted Average Exercise Price Per Share
Outstanding-beg of year		5,214,000		$	2.68
Issued		0		$
Expired		(69,300	)	$	2.50
Exercised		(3,882,200	)	$	2.62
Outstanding and exercisable at Sept 30, 2014		1,262,500		$	2.75

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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