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Note 11 - Stockholders' Equity
 6 Months Ended
Mar. 31, 2016
Notes to Financial Statements  
Stockholders' Equity Note Disclosure [Text Block]
11
. STOCKHOLDERS’ EQUITY
 
Summary
 
The following table summarizes changes in the components of stockholders’ equity during the six months ended March 31, 2016:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Accumulated
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Additional
 
 
 
 
 
 
Other
 
 
Total
 
 
 
Common Stock
 
 
Paid-in
 
 
Retained
 
 
Comprehensive
 
 
Stockholders'
 
 
 
Shares
 
 
Amount
 
 
Capital
 
 
Earnings
 
 
Loss
 
 
Equity
 
Balances, September 30, 2015
    32,898,461     $ 329     $ 87,608,034     $ (49,658,850 )   $ (301 )   $ 37,949,212  
Share-based compensation expense
    -       -       308,257       -       -       308,257  
Repurchase of common stock
    (1,099,608 )     (11 )     (1,748,445 )     -       -       (1,748,456 )
Common stock cash dividends
    -       -       -       (636,661 )     -       (636,661 )
Other comprehensive income
    -       -       -       -       (528 )     (528 )
Net loss
    -       -       -       (1,044,736 )     -       (1,044,736 )
Balances, March 31, 2016
    31,798,853     $ 318     $ 86,167,846     $ (51,340,247 )   $ (829 )   $ 34,827,088  
 
Stock Purchase Warrants
 
The Company previously had 1,627,945 shares purchasable under outstanding warrants at an exercise price of $2.67, which expired on February 4, 2016. It did not have any warrants outstanding as of March 31, 2016.
 
 
Share Buyback Program
 
The Board of Directors approved a share buyback program in 2013 under which the Company was authorized to repurchase up to $4 million of its outstanding common shares. This program expired on December 31, 2015 and in December 2015, the Board of Directors approved a new buyback program for calendar year 2016 under which the Company is authorized to repurchase up to $4 million of its outstanding common shares. During the six months ended March 31, 2016, 1,099,608 shares were repurchased for $1,748,456 under these two programs.
 
Dividends
 
On December 3, 2015, the Company announced a cash dividend of $0.01 per share on the Company’s common stock, payable on January 29, 2016 to stockholders of record on January 15, 2016. On February 4, 2016, the Company announced a cash dividend of $0.01 per share on the Company’s common stock, payable on March 30, 2016 to stockholders of record on March 15, 2016. Dividends charged to retained earnings in the three and six months ended March 31, 2016 were $317,988 and $636,661, respectively. There were no dividends declared in the prior year periods.