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Stockholders' Equity
 3 Months Ended
Dec. 31, 2011
Stockholders' Equity [Abstract]  
Stockholders' Equity

13. STOCKHOLDERS' EQUITY

Summary

The following table summarizes changes in stockholders' equity components during the three months ended December 31, 2011:

 

                   Additional            Total  
     Common Stock      Paid-in      Accumulated     Stockholders'  
     Shares      Amount      Capital      Deficit     Equity  

Balances, September 30, 2011

      32,374,499       $ 324       $ 85,673,560       $ (65,398,586 )    $ 20,275,298   
  

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  

Share-based compensation expense

      —           —           139,286         —          139,286   

Net income for the period

      —           —           —           313,946        313,946   
  

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  

Balances, December 31, 2011

      32,374,499       $ 324       $ 85,812,846       $ (65,084,640 )    $ 20,728,530   
  

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  

Stock Purchase Warrants

At December 31, 2011, the Company had 1,627,945 shares purchasable under outstanding warrants (the "2011 Warrants") at an exercise price of $2.67 which are exercisable through February 4, 2016.

The Company entered into a Registration Rights Agreement with the holders of the 2011 Warrants ("Warrant Holders"). Under this agreement, if the Warrant Holders are unable to re-sell the shares purchased upon exercise of the 2011 Warrants, the Company will be obligated to pay liquidated damages to the purchasers in the amount of $0.0267 per day per applicable share, but not to exceed a total of $0.534 per applicable share or a maximum of $869,323. This obligation will be effective for the five year term of the Warrants, or until all 2011 Warrants have been exercised.