XML 17 R8.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Supplemental Balance Sheet Disclosures | 3 Months Ended
--- | ---
Dec. 31, 2021
Supplemental Balance Sheet Disclosures |
Supplemental Balance Sheet Disclosures | 2. Supplemental Balance Sheet Disclosures Inventories Inventories are stated at the lower of cost (first-in, first-out) or net realizable value, net of write-downs for excess and obsolete inventory, and consist of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, | ​ | September 30,
​ |  | 2021 |  | 2021
Raw materials |  | $ | 3,741,707 |  | $ | 3,729,692
Work-in-process | ​ |  | 678,941 | ​ |  | 629,814
Finished goods | ​ |  | 185,827 | ​ |  | 185,886
​ |  | $ | 4,606,475 |  | $ | 4,545,392
​ Prepaid expenses and other current assets Prepaid expenses and other current assets consist of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, | ​ | September 30,
​ |  | 2021 |  | 2021
Prepaid insurance |  | $ | 638,385 | ​ | $ | 318,138
Other | ​ |  | 243,093 | ​ |  | 514,938
​ |  | $ | 881,478 | ​ | $ | 833,076
​ Property and equipment Property and equipment, net consists of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, | ​ | September 30,
​ |  | 2021 |  | 2021
Computer equipment | ​ | $ | 2,294,387 | ​ | $ | 2,309,053
Corporate airplanes | ​ |  | 5,601,039 | ​ |  | 5,601,039
Furniture and office equipment | ​ |  | 970,725 | ​ |  | 970,725
Manufacturing facility | ​ |  | 5,889,491 | ​ |  | 5,889,491
Equipment | ​ |  | 5,622,877 | ​ |  | 5,545,529
Land | ​ | ​ | 1,021,245 | ​ | ​ | 1,021,245
​ | ​ |  | 21,399,764 | ​ |  | 21,337,082
Less: accumulated depreciation and amortization | ​ |  | (13,268,315) | ​ |  | (13,193,599)
​ |  | $ | 8,131,449 |  | $ | 8,143,483
​ Depreciation and amortization related to property and equipment was $92,372 and $93,051 for the three-month periods ended December 31, 2021 and 2020, respectively. The corporate airplanes are utilized primarily in support of product development. The Pilatus PC-12 airplane, one of the Company’s two corporate airplanes, has been depreciated to its estimated salvage value. Other assets Other assets consist of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, | ​ | September 30,
​ |  | 2021 |  | 2021
Intangible assets, net of accumulated amortization of $634,032 at December 31, 2021 and September 30, 2021 |  | $ | 62,474 |  | $ | 62,474
Operating lease right-of-use asset | ​ | ​ | 39,336 | ​ | ​ | 42,976
Other non-current assets | ​ | ​ | 79,845 | ​ |  | 82,834
​ |  | $ | 181,655 |  | $ | 188,284
​ Intangible assets consist of licensing and certification rights which are amortized over a defined number of units. No impairment charges were recorded in the three-month periods ended December 31, 2021 and 2020. Intangible asset amortization expense was $0 and $19,914 for the three-month periods ended December 31, 2021 and 2020, respectively. The timing of future amortization expense is not determinable because the intangible assets are being amortized over a defined number of units. Other non-current assets as of December 31, 2021 and September 30, 2021 include the security deposit for an airplane hangar and a deposit for medical claims required under the Company’s medical plan. In addition, other non-current assets as of December 31, 2021 and September 30, 2021 includes $4,545 and $7,535, respectively, of prepaid software licenses that will be earned upon the shipment of a certain product to a customer. Other non-current assets amortization expense was $2,990 and $717 for the three-month periods ended December 31, 2021 and 2020, respectively. Accrued expenses Accrued expenses consist of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, | ​ | September 30,
​ |  | 2021 |  | 2021
Warranty |  | $ | 596,436 |  | $ | 589,260
Salary, benefits and payroll taxes | ​ |  | 220,705 | ​ |  | 385,287
Professional fees | ​ |  | 208,680 | ​ |  | 163,130
Operating lease | ​ | ​ | 14,122 | ​ | ​ | 14,296
Other | ​ | ​ | 395,585 | ​ | ​ | 279,142
​ |  | $ | 1,435,528 |  | $ | 1,431,115
​ Warranty cost and accrual information for the three-month period ended December 31, 2021 is highlighted below: ​
​ | ​ | ​ | ​
​ | ​ | Three Months Ending
​ |  | December 31, 2021
Warranty accrual, beginning of period |  | $ | 589,260
Accrued expense | ​ |  | 32,590
Warranty cost | ​ |  | (25,414)
Warranty accrual, end of period |  | $ | 596,436
​

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockSupplementAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -URI http://asc.fasb.org/topic&trid=2122208 + Details
Name: | us-gaap_SupplementalBalanceSheetDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration