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Note 12 - Income Taxes (Tables)

12 Months Ended

Sep. 30, 2018

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

		Years ended September 30,
		2018				2017
Current tax provision
Federal		$	-			$	-
State			1,600				1,600
Total current tax provision			1,600				1,600
Deferred provision
Federal			2,017,900				166,600
State			356,100				29,400
Total deferred provision			2,374,000				196,000
Provision for income taxes		$	2,375,600			$	197,600

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

		Years ended September 30,
		2018				2017
Income taxes computed at the federal statutory rate		$	(332,000	)		$	(231,000	)
Change in valuation allowance			2,711,000				197,000
Change in tax rate			6,754,000				-
Expired net operating loss carryforwards			441,000				283,000
Nondeductible compensation, interest expense and other			39,000				21,000
State income taxes, net of federal tax benefit			(41,000	)			(24,000	)
Change in R&D credit carryover			(133,000	)			(98,000	)
Stock options and other prior year true-ups			(499,000	)			48,000
Acquired deferred tax assets of Genasys Spain			(6,564,400	)			1,600
Provision for income taxes		$	2,375,600			$	197,600

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

		At September 30,
		2018				2017
Deferred tax assets:
Net operating loss carryforwards		$	13,644,000			$	16,443,000
Research and development credit			5,805,000				2,559,000
Share-based compensation			532,000				898,000
Equipment			(41,000	)			(80,000	)
Patents			35,000				69,000
Accruals and other			818,000				546,000
State tax deduction			(5,000	)			(7,000	)
Federal AMT Credit			53,000				52,000
Allowances			133,000				157,000
Gross deferred tax asset			20,974,000				20,637,000
Less valuation allowance			(15,017,000	)			(12,306,000	)
Total deferred tax assets, net of valuation allowance		$	5,957,000			$	8,331,000

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

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