Investment in Affiliate

12 Months Ended

Sep. 30, 2015

Investment in Affiliate [Abstract]

Investment in Affiliate

3.

Investment in Affiliate

On April 15, 2013, the Company executed a Subscription Agreement for the purchase of 4,800 Class A Units of BDFD, representing a 48% non-controlling voting membership interest in BDFD, for the aggregate subscription price of $750,000.  The subscription price was payable in two equal installments. The first $375,000 installment was paid on the date of execution of the Subscription Agreement and the remaining $375,000 installment was paid in December 2013.

As explained in Note 2 above, the Company acquired the remaining 52% interest in BDFD on May 7, 2015.Prior to the acquisition, the Company accounted for this investment using the equity method. For the fiscal year ended September 30, 2015 and 2014 the Company recorded net income of $5,000 and a net loss of ($145,000), respectively, for its share of BDFD's operating results.The carrying value at September 30, 2014 was $502,000, which is represented as Investment in Affiliate in the accompanying consolidated balance sheets.