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Note 4 - Acquisitions (Tables)

6 Months Ended

Mar. 31, 2018

Notes Tables

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

Cash paid		$	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]

		Three months ended								Six months ended
		March 31,								March 31,
		2018				2017				2018				2017
Net revenues		$	8,042,879			$	6,034,248			$	16,222,894			$	9,474,427
Net income			529,094				276,048				(1,081,478	)			(788,438	)
Basic and diluted earnings per share		$	0.02			$	0.01			$	(0.03	)		$	(0.02	)

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

		Three months ended March 31,
		2018								2017
		Net revenues				Net income				Net revenues				Net income
LRAD actual results		$	7,453,794			$	384,516			$	5,742,391			$	298,350
Genasys actual results			589,085				89,727				291,857				79,067
Pro Forma adjustments			-				54,851				-				(101,369	)
Pro forma results		$	8,042,879			$	529,094			$	6,034,248			$	276,048

		Six months ended March 31,
		2018								2017
		Net revenues				Net income				Net revenues				Net income
LRAD actual results		$	15,082,361			$	(1,298,736	)		$	8,683,726			$	(514,329	)
Genasys actual results			1,140,533				126,844				790,701				(172,740	)
Pro Forma adjustments			-				90,414				-				(101,369	)
Pro forma results		$	16,222,894			$	(1,081,478	)		$	9,474,427			$	(788,438	)

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

		Three months ended								Six months ended
		March 31,								March 31,
		2018				2017				2018				2017
Acquisition costs		$	151,313			$	-			$	196,329			$	-
Depreciation and amortization costs			(81,881	)			(163,762	)			(81,881	)			(163,762	)
Tax effect of adjustments			(14,581	)			62,393				(24,034	)			62,393
Pro forma adjustmenst		$	54,851			$	(101,369	)		$	90,414			$	(101,369	)

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- 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.

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