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Note 16 - Stockholders' Equity
 9 Months Ended
Jun. 30, 2020
Notes to Financial Statements  
Stockholders' Equity Note Disclosure [Text Block]
1
6
. STOCKHOLDERS' EQUITY
 
Summary
 
The following tables summarize changes in the components of stockholders' equity during the
three
and
nine
months ended
June 30, 2020
and the
three
and
nine
months ended
June 30, 2019:
 
   
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
Accumulated
   
 
 
 
   
 
 
 
  
 
 
 
  
Additional
    
 
 
 
  
Other
    
Total
  
   
Common Stock
    
Paid-in
    
Accumulated
   
Comprehensive
    
Stockholders'
  
   
Shares
    
Amount
    
Capital
    
Deficit
    
Loss
    
Equity
  
Balance at September 30, 2019
    
32,949,987
     $
330
     $
89,571,641
     $
(53,731,903
 )   $
(458,719
 )   $
35,381,349
  
Share-based compensation expense
    
-
      
-
      
158,327
      
-
      
-
      
158,327
  
Issuance of common stock upon exercise of stock options, net
    
83,343
      
1
      
144,213
      
-
      
-
      
144,214
  
Other comprehensive income
    
-
      
-
      
-
      
-
      
85,314
      
85,314
  
Net income
    
-
      
-
      
-
      
620,327
      
-
      
620,327
  
Balance at December 31, 2019
    
33,033,330
     $
331
     $
89,874,181
     $
(53,111,576
 )   $
(373,405
 )   $
36,389,531
  
                                                 
Share-based compensation expense
    
-
      
-
      
295,290
      
-
      
-
      
295,290
  
Issuance of common stock upon exercise of stock options, net
    
56,861
      
-
      
113,833
      
-
      
-
      
113,833
  
Issuance of common stock upon vesting of restricted stock units
    
198,106
      
2
      
(2
 )    
-
      
-
      
-
  
Shares retained for payment of taxes in connection with net share settlement of restricted stock units
    
(13,063
 )    
-
      
(41,410
 )    
-
      
-
      
(41,410
 )
Stock buyback
    
(156,505
 )    
(2
 )    
(398,254
 )    
 
      
 
      
(398,256
 )
Other comprehensive loss
    
-
      
-
      
-
      
-
      
(69,352
 )    
(69,352
 )
Net income
    
-
      
-
      
-
      
301,575
      
-
      
301,575
  
Balance at March 31, 2020
    
33,118,729
     $
331
     $
89,843,638
     $
(52,810,001
 )   $
(442,757
 )   $
36,591,211
  
                                                 
Share-based compensation expense
    
-
      
-
      
322,025
      
-
      
-
      
322,025
  
Issuance of common stock upon exercise of stock options, net
    
371,815
      
4
      
738,840
      
-
      
-
      
738,844
  
Other comprehensive income
    
-
      
-
      
-
      
-
      
51,274
      
51,274
  
Net income
    
-
      
-
      
-
      
1,504,077
      
-
      
1,504,077
  
Balance at June 30, 2020
    
33,490,544
     $
335
     $
90,904,503
     $
(51,305,924
 )   $
(391,483
 )   $
39,207,431
  
 
   
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
Accumulated
   
 
 
 
   
 
 
 
  
 
 
 
  
Additional
    
 
 
 
  
Other
    
Total
  
   
Common Stock
    
Paid-in
    
Accumulated
   
Comprehensive
    
Stockholders'
  
   
Shares
    
Amount
    
Capital
    
Deficit
    
Loss
    
Equity
  
Balance at September 30, 2018
    
33,176,146
     $
332
     $
90,251,145
     $
(56,516,895
 )   $
(245,375
 )   $
33,489,207
  
Share-based compensation expense
    
-
      
-
      
133,845
      
-
      
-
      
133,845
  
Issuance of common stock upon exercise of stock options, net
    
1,600
      
-
      
2,528
      
-
      
-
      
2,528
  
Stock buyback
    
(588,425
 )    
(6
 )    
(1,621,016
 )    
-
      
-
      
(1,621,022
 )
Other comprehensive loss
    
-
      
-
      
-
      
-
      
(54,335
 )    
(54,335
 )
Net income
    
-
      
-
      
-
      
1,045,940
      
-
      
1,045,940
  
Balance at December 31, 2018
    
32,589,321
     $
326
     $
88,766,502
     $
(55,470,955
 )   $
(299,710
 )   $
32,996,163
  
                                                 
Share-based compensation expense
    
-
      
-
      
171,977
      
-
    
 
-
      
171,977
  
Issuance of common stock upon exercise of stock options, net
    
26,682
      
-
      
42,644
      
-
    
 
-
      
42,644
  
Issuance of common stock upon vesting of restricted stock units
    
156,115
      
2
      
(2
 )    
-
    
 
-
      
-
  
Stock buyback
    
(200,000
 )    
(2
 )    
(549,998
 )    
-
      
 
      
(550,000
 )
Other comprehensive loss
    
-
      
-
      
-
      
-
      
(69,091
 )    
(69,091
 )
Net income
    
-
      
-
      
-
      
1,178,850
    
 
-
      
1,178,850
  
Balance at March 31, 2019
    
32,572,118
     $
326
     $
88,431,123
     $
(54,292,105
 )   $
(368,801
 )   $
33,770,543
  
                                                 
Share-based compensation expense
    
-
      
-
      
257,566
      
-
      
-
      
257,566
  
Issuance of common stock upon exercise of stock options, net
    
7,000
      
-
      
9,449
      
-
      
-
      
9,449
  
Other comprehensive loss
    
-
      
-
      
-
      
-
      
56,538
      
56,538
  
Net income
    
-
      
-
      
-
      
638,041
      
-
      
638,041
  
Balance at June 30, 2019
    
32,579,118
     $
326
     $
88,698,138
     $
(53,654,064
 )   $
(312,263
 )   $
34,732,137
  
 
Common Stock Activity
 
During the
nine
months ended
June 30, 2020,
the Company issued
512,019
shares of common stock and obtained gross proceeds of
$996,891
in connection with the exercise of stock options. During the
nine
months ended
June 30, 2019,
the Company issued
35,282
shares of common stock and obtained gross proceeds of
$54,621
in connection with the exercise of stock options. During the
nine
months ended
June 30, 2020,
the Company issued
185,043
shares of common stock in connection with the vesting of RSUs. During the
nine
months ended
June 30, 2019,
the Company issued
156,115
shares of common stock in connection with the vesting of RSUs.
 
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. In
December 2017,
the Board of Directors extended the program through
December 31, 2018.
 
In
December 2018,
the Board of Directors approved a new share buyback program beginning
January 1, 2019
and expiring on
December 31, 2020,
under which the Company was authorized to repurchase up to
$5
million of its outstanding common shares.
 
During the
nine
months ended
June 30, 2020,
the Company repurchased
156,505
shares for
$398,256.
During the
nine
months ended
June 30, 2019,
788,425
shares were repurchased for
$2,171,022.
All repurchased shares were retired.
 
Dividends
 
There were
no
dividends declared in the
nine
months ended
June 30, 2020
and
2019.