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Note 11 - Stockholders' Equity
 9 Months Ended
Jun. 30, 2017
Notes to Financial Statements  
Stockholders' Equity Note Disclosure [Text Block]
1
1
. STOCKHOLDERS’ EQUITY
 
Summary
 
The following table summarizes changes in the components of stockholders’ equity during the
nine
months ended
June 30, 2017:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Accumulated
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Additional
 
 
 
 
 
 
Other
 
 
Total
 
 
 
Common Stock
 
 
Paid-in
 
 
Accumulated
 
 
Comprehensive
 
 
Stockholders'
 
 
 
Shares
 
 
Amount
 
 
Capital
 
 
Deficit
 
 
Loss
 
 
Equity
 
Balances, September 30, 2016
   
31,800,103
    $
318
    $
86,467,215
    $
(51,895,099
 )   $
(1,549
 )   $
34,570,885
 
Share-based compensation expense
   
-
     
-
     
943,923
     
-
     
-
     
943,923
 
Shares issued pursuant to stock awards
   
125,000
     
1
     
(1
 )    
-
     
-
     
-
 
Other comprehensive loss
   
-
     
-
     
-
     
-
     
(1,871
 )    
(1,871
 )
Net loss
   
-
     
-
     
-
     
(1,042,492
 )    
-
     
(1,042,492
 )
Balances, June 30, 2017
   
31,925,103
    $
319
    $
87,411,137
    $
(52,937,591
 )   $
(3,420
 )   $
34,470,445
 
 
 
Share Buyback Program
 
The Board of Directors approved a share buyback program in
2015
under which the Company was authorized to repurchase up to
$4
million of its outstanding common shares. The original share buyback authorization expired on
December 31, 2016,
and in
December 2016,
the Board extended the program through
December 31, 2017.
There were
no
shares repurchased during the
nine
months ended
June 30, 2017.
During the
nine
months ended
June 30, 2016,
1,099,608
shares were repurchased for
$1,748,456
under these
two
programs. At
June 30, 2017,
$3,894,664
was remaining as authorized under the buyback program.
 
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,
and 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
nine
months ended
June 30, 2016
were
$317,989
and
$954,650,
respectively. There were
no
dividends declared in the
nine
months ended
June 30, 2017.