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Note 4 - Fair Value Measurements
 12 Months Ended
Sep. 30, 2017
Notes to Financial Statements  
Fair Value Disclosures [Text Block]
4.
FAIR VALUE MEASUREMENTS
 
The Company
’s financial instruments consist principally of cash equivalents, short and long-term marketable securities, accounts receivable and accounts payable. The fair value of a financial instrument is the amount that would be received in an asset sale or paid to transfer a liability in an orderly transaction between unaffiliated market participants. Assets and liabilities measured at fair value are categorized based on whether or
not
the inputs are observable in the market and the degree that the inputs are observable. The categorization of financial instruments within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The hierarchy is prioritized into
three
levels (with Level
3
being the lowest) defined as follows:
 
Level
1:
     Inputs are based on quoted market prices for identical assets or liabilities in active markets at the measurement date.
 
Level
2:
     Inputs include quoted prices for similar assets or liabilities in active markets and/or quoted prices for identical or similar assets or liabilities in markets that are
not
active near the measurement date.
 
Level
3:
     Inputs include management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. The inputs are unobservable in the market and significant to the instrument’s valuation.
 
The fair value of the majority of the Company
’
s cash equivalents and marketable securities was determined based on “
Level
1”
inputs. The fair value of certain marketable securities, long-term debt, hedge fund investments, and derivative contracts were determined based on “
Level
2”
inputs. The valuation techniques used to measure the fair value of the “
Level
2”
instruments were valued based on quoted market prices or model-driven valuations using significant inputs derived from or corroborated by observable market data. The Company does
not
have any financial instruments in the “Level
3”
category.
 
There have been
no
changes to the inputs used in the fair value measurement of Level
1,
Level
2,
and Level
3
assets and
no
changes in valuation techniques for these assets for the
years ended
September 30, 2017
and
2016.
 
Instruments Measured at Fair Value
 
The following table
s present the Company’s cash equivalents and marketable securities’ costs, gross unrealized gains and losses, and fair value by major security type recorded as cash equivalents or short-term or long-term marketable securities as of
September 30, 2017
and
2016.
 
   
September 30, 2017
  
           
Unrealized
    
Fair
    
Cash
    
Short-term
    
Long-term
  
   
Cost Basis
    
Gains/(Losses)
    
Value
    
Equivalents
    
Securities
    
Securities
  
                                                 
Level 1:
                                                
Money Market Funds
   $
55,257
     $
-
     $
55,257
     $
55,257
     $
-
     $
-
  
                                                 
Level 2:
                                                
Certificates of deposit
   $
2,436,647
     $
-
     $
2,436,647
     $
-
     $
1,937,647
     $
499,000
  
Municipal securities
    
25,315
      
(12
 )    
25,303
      
-
      
25,303
      
-
  
Corporate bonds
    
2,609,973
      
(1,257
 )    
2,608,716
      
-
      
2,396,592
      
212,124
  
Subtotal
    
5,071,935
      
(1,269
 )    
5,070,666
      
-
      
4,359,542
      
711,124
  
                                                 
Total
   $
5,127,192
     $
(1,269
 )   $
5,125,923
     $
55,257
     $
4,359,542
     $
711,124
  
 
    September 30, 2016  
   
Cost Basis
    
Unrealized Gains/(Losses)
     Fair Value     Cash Equivalents     Short-term Securities     Long-term Securities  
                                                 
Level 1:                                                
Money Market Funds
   $
-
     $
-
     $
95,538
     $
95,538
     $
-
     $
-
  
                                                 
Level 2:
                                                
Certificates of deposit
   $
3,236,168
     $
-
     $
3,236,168
     $
-
     $
1,299,133
     $
1,937,035
  
Municipal securities    
140,637
      
-
      
140,637
      
-
      
140,637
      
-
  
Corporate bonds
    
1,748,404
      
(1,549
 )    
1,746,855
      
-
      
1,496,354
      
250,501
  
Subtotal
    
5,125,209
      
(1,549
 )    
5,123,660
      
-
      
2,936,124
      
2,187,536
  
                                                 
Total
   $
5,125,209
     $
(1,549
 )   $
5,219,198
     $
95,538
     $
2,936,124
     $
2,187,536