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STOCK OPTIONS AND STOCK-BASED EMPLOYEE COMPENSATION
 3 Months Ended
Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]
4.           STOCK OPTIONS AND STOCK-BASED EMPLOYEE COMPENSATION
 
Employee and Director Stock Option Plans
 
In 1995, the Company adopted the 1995 Stock Option Plan (the “1995 Plan”) for employees and directors. In August 1999, the Company adopted the 1999 Stock Option Plan (the “1999 Plan”) and in 2010, the Company’s Board of Directors approved the 2010 Stock Option Plan (the “2010 Plan”) (collectively, “the Plans”).  The 2010 Plan was approved by the shareholders of the Company at the 2011 Annual Meeting of Shareholders. The options granted under the Plans may be either incentive stock options, or non-qualified options. The Plans are administered by the Board of Directors or by a compensation committee of the Board of Directors. The Board of Directors has the exclusive power to select individuals to receive grants, to establish the terms of the options granted to each participant, provided that all options granted shall be granted at an exercise price equal to at least 85 % of the fair market value of the common stock covered by the option on the grant date and to make all determinations necessary or advisable under the Plans.
 
The compensation costs recognized for the three months ended December 31, 2014 and 2013 were $120,012 and $2,922, respectively. There were no stock option grants or exercises for the three month periods ended December 31, 2014 and 2013. There was no unamortized stock compensation expense related to stock options at December 31, 2014.
 
Stock Option Activity
 
The following is a summary of all stock option transactions for the three months ended December 31, 2014:
 
 
 
 
 
 
Weighted
 
 
 
 
 
 
 
 
Average
 
 
 
 
 
 
 
 
Remaining
 
 
 
 
 
 
Weighted
 
Contractual
 
Aggregate
 
(in thousands, except for per share
 
 
Average
 
Term
 
Intrinsic
 
and year information)
 
Shares
 
Exercise Price
 
(years)
 
Value
 
Outstanding as of September 30, 2014
 
 
10
 
$
8.70
 
 
 
 
 
 
 
Granted
 
 
-
 
 
-
 
 
 
 
 
 
 
Cancelled or expired
 
 
-
 
 
-
 
 
 
 
 
 
 
Exercised
 
 
-
 
 
-
 
 
 
 
 
 
 
Outstanding as of December 31, 2014
 
 
10
 
$
8.70
 
 
0.50
 
$
13
 
Options exercisable as of December 31, 2014
 
 
10
 
$
8.70
 
 
0.50
 
$
13