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Note 13 - Stockholders' Equity
12 Months Ended
Sep. 30, 2017
Notes to Financial Statements  
Stockholders' Equity Note Disclosure [Text Block]
1
3
. STOCKHOLDERS’ EQUITY
 
Common Stock Activity
 
During the year ended
September
 
30,
2017,
the Company issued
233,333
shares of common stock and obtained gross proceeds of
$373,228
(
$240,228
of the proceeds are reported in accounts receivable as the transaction was in process at year-end) in connection with the exercise of stock options. During the year ended
September 
30,
2016,
the Company issued
1,250
shares of common stock and obtained gross proceeds of
$2,200
in connection with the exercise of stock options. During the year ended
September 30, 2017,
the Company issued
125,000
of shares of common stock upon full vesting of RSUs.
No
RSUs vested in the year ended
September 30, 2016.
 
Preferred Stock
 
The Company is authorized under its certificate of incorporation and bylaws to issue
5,000,000
shares of preferred stock,
$0.00001
par value, without any further action by the stockholders. The board of directors has the authority to divide any and all shares of preferred stock into series and to fix and determine the relative rights and preferences of the preferred stock, such as the designation of series and the number of shares constituting such series, dividend rights, redemption and sinking fund provisions, liquidation and dissolution preferences, conversion or exchange rights and voting rights, if any. Issuance of preferred stock by the board of directors could result in such shares having dividend and or liquidation preferences senior to the rights of the holders of common stock and could dilute the voting rights of the holders of common stock.
 
No
shares of preferred stock were outstanding during the fiscal years ended
September
 
30,
2017
or
2016.
 
Share Buyback Program
 
The Board of Directors approved a share buyback program under which the Company was authorized to repurchase up to
$4
million of its outstanding common shares.
During the year ended
September 30, 2017,
no
shares were repurchased and
1,099,608
shares were repurchased for
$1,748,456
in the year ended
September 30, 2016.
At
September 30, 2017,
all repurchased shares were retired. In
December 2017,
the Board of Directors extended the program through
December 31, 2018.