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Supplemental Balance Sheet Disclosures | 6 Months Ended
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Mar. 31, 2023
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: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, | ​ | September 30,
​ |  | 2023 |  | 2022
Raw materials |  | $ | 5,108,433 |  | $ | 4,451,045
Work-in-process | ​ |  | 745,587 | ​ |  | 795,723
Finished goods | ​ |  | 45,815 | ​ |  | 102,336
​ |  | $ | 5,899,835 |  | $ | 5,349,104
​ Prepaid expenses and other current assets Prepaid expenses and other current assets consist of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, | ​ | September 30,
​ |  | 2023 |  | 2022
Prepaid insurance |  | $ | 829,421 | ​ | $ | 777,311
Other | ​ |  | 413,922 | ​ |  | 365,159
​ |  | $ | 1,243,343 | ​ | $ | 1,142,470
​ Property and equipment Property and equipment, net consists of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, | ​ | September 30,
​ |  | 2023 |  | 2022
Computer equipment | ​ | $ | 2,316,679 | ​ | $ | 2,307,139
Corporate airplane | ​ |  | 2,406,468 | ​ |  | 2,406,468
Furniture and office equipment | ​ |  | 976,993 | ​ |  | 976,993
Manufacturing facility | ​ |  | 5,889,491 | ​ |  | 5,889,491
Equipment | ​ |  | 5,607,386 | ​ |  | 5,624,966
Land | ​ | ​ | 1,021,245 | ​ | ​ | 1,021,245
​ | ​ |  | 18,218,262 | ​ |  | 18,226,302
Less: accumulated depreciation and amortization | ​ |  | (12,017,311) | ​ |  | (11,934,113)
​ |  | $ | 6,200,951 |  | $ | 6,292,189
​ Depreciation and amortization related to property and equipment was $85,981 and $88,122 for the three-month periods ended March 31, 2023 and 2022, respectively. The corporate airplane is utilized primarily in support of product development. Depreciation and amortization related to property and equipment was approximately $171,390 and $180,494 for the six-month periods ended March 31, 2023 and 2022, respectively. Other assets Other assets consist of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, | ​ | September 30,
​ |  | 2023 |  | 2022
Intangible assets, net of accumulated amortization of $636,158 at March 31, 2023 and September 30, 2022 |  | $ | 60,348 |  | $ | 60,348
Operating lease right-of-use asset | ​ | ​ | 21,790 | ​ | ​ | 28,680
Other non-current assets | ​ | ​ | 182,528 | ​ |  | 75,300
​ |  | $ | 264,666 |  | $ | 164,328
​ Intangible assets consist of licensing and certification rights which are amortized over a defined number of units. No impairment charges were recorded in the six-month periods ended March 31, 2023 and 2022. Intangible asset amortization expense was $0 and $1,063 for the three-month periods ended March 31, 2023 and 2022, respectively. Intangible asset amortization expense was $0 and $1,063 for the six-month periods ended March 31, 2023 and 2022, 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 March 31, 2023 and September 30, 2022 include the security deposit for an airplane hangar, supplier credit from one of our suppliers and a deposit for medical claims required under the Company’s medical plan. In addition, other non-current assets as of March 31, 2023 and September 30, 2022 includes $47,772 and $0, 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 $0 and $3,557 for the three-month periods ended March 31, 2023 and 2022, respectively. Other non-current assets amortization expense was $0 and $6,577 for the six-month periods ended March 31, 2023 and 2022, respectively. Accrued expenses Accrued expenses consist of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, | ​ | September 30,
​ |  | 2023 |  | 2022
Warranty |  | $ | 587,650 |  | $ | 607,001
Salary, benefits and payroll taxes | ​ |  | 742,570 | ​ |  | 1,030,628
Professional fees | ​ |  | 130,600 | ​ |  | 364,794
Operating lease | ​ | ​ | 13,287 | ​ | ​ | 13,615
Other |  | ​ | 388,084 | ​ | ​ | 956,237
​ | ​ | $ | 1,862,191 |  | $ | 2,972,275
​ Warranty cost and accrual information for the three-and six-month periods ended March 31, 2023 is highlighted below: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ending | ​ | Six Months Ending
​ |  | March 31, 2023 |  | March 31, 2023
Warranty accrual, beginning of period |  | $ | 577,690 | ​ | $ | 607,001
Accrued expense | ​ |  | 34,912 | ​ |  | 34,376
Warranty cost | ​ |  | (24,952) | ​ |  | (53,727)
Warranty accrual, end of period |  | $ | 587,650 | ​ | $ | 587,650
​

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -URI https://asc.fasb.org/topic&trid=2122208 + Details
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