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Note 4 - Acquisition (Tables)

12 Months Ended

Sep. 30, 2018

Notes Tables

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

Cash paid at closing		$	2,826,189
Acquisition escrow liability			185,250
Total consideration		$	3,011,439

Assets Acquired
Cash and restricted cash acquired		$	579,644
Accounts receivable			426,940
Fixed assets			5,712
Intangible assets			1,850,000
Goodwill			2,603,688
Other assets			54,520
Total assets acquired			5,520,504
Liabilities assumed
Accounts payable			275,653
Accrued expenses and other liabilities			315,817
Severance obligation			397,558
Debt			1,520,037
Total liabilities assumed			2,509,065
Net assets acquired		$	3,011,439

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]

		Fair Value				Useful Lives (in years)
Technology		$	690,000				7
Customer relationships			660,000				7
Trade name portfolio			240,000				5
Non-compete agreements			260,000				3
		$	1,850,000

Business Acquisition, Pro Forma Information [Table Text Block]

		Year ended September 30,
		2018				2017
Net Revenues		$	27,255,960			$	22,381,779
Net Loss			(3,428,191	)			(969,195	)
Basic and diluted loss per share		$	(0.11	)		$	(0.03	)

Business Acquisition, Reconciliation of Actual Net Revenue and Net Income to Pro Forma Net Revenue and Net Income [Table Text Block]

		September 30, 2018								September 30, 2017
		Net revenues				Net income (loss)				Net revenues				Net income (loss)
LRAD actual results		$	24,836,795			$	(3,629,853	)		$	20,314,178			$	(876,754	)
Genasys actual results			2,419,165				158,264				2,067,601				64,012
Pro forma adjustments			-				43,398				-				(156,453	)
Pro forma results		$	27,255,960			$	(3,428,191	)		$	22,381,779			$	(969,195	)

Business Acquisition, Pro Forma Information, Nonrecurring Adjustments [Table Text Block]

		Year ended September 30,
		2018				2017
Acquisition costs		$	371,331			$	41,016
Amortization costs			(316,396	)			(292,078	)
Tax effect of adjustments			(11,537	)			94,609
Pro forma adjustments		$	43,398			$	(156,453	)

X

- Definition

Tabular disclosure of the reconciliation of actual net revenue and net income to pro forma net revenue and net income related to a business acquisition.

+ References

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