XML 34 R23.htm IDEA: XBRL DOCUMENT v3.21.1
Note 17 - Stockholders' Equity
 6 Months Ended
Mar. 31, 2021
Notes to Financial Statements  
Stockholders' Equity Note Disclosure [Text Block]
17.
STOCKHOLDERS
'
EQUITY
 
Summary
 
The following table summarizes changes in the components of stockholders' equity during the
six
months ended
March 31, 2021
and the
six
months ended
March 31, 2020 (
amounts in thousands, except par value and share amounts):
 
   
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
Accumulated
    
 
 
 
   
 
 
 
  
 
 
 
  
Additional
    
 
 
 
  
Other
    
Total
  
   
Common Stock
    
Paid-in
    
Accumulated
    
Comprehensive
    
Stockholders'
  
   
Shares
    
Amount
    
Capital
    
Deficit
    
Loss
    
Equity
  
Balance at September 30, 2020
    
33,561,544
     $
336
     $
91,248
     $
(41,858
 )   $
(250
 )   $
49,140
  
Share-based compensation expense
    
-
      
-
      
182
      
-
      
-
      
182
  
Issuance of common stock upon exercise of stock options, net
    
25,899
      
-
      
54
      
-
      
-
      
54
  
Obligation to issue common stock
    
-
      
-
      
3,431
      
-
      
-
      
3,431
  
Other comprehensive income
    
-
      
-
      
-
      
-
      
469
      
469
  
Net loss
    
-
      
-
      
-
      
(619
 )    
-
      
(619
 )
Balance at December 31, 2020
    
33,587,443
     $
336
     $
94,915
     $
(42,477
 )   $
219
     $
52,657
  
                                                 
Share-based compensation expense
    
-
     $
-
     $
328
     $
-
     $
-
     $
328
  
Issuance of common stock upon exercise of stock options, net
    
60,563
      
1
      
116
      
-
      
-
      
116
  
Issuance of common stock upon vesting of restricted stock units
    
223,633
      
2
      
-
      
-
      
-
      
-
  
Shares retained for payment of taxes in connection with net share settlement of restricted stock units
    
(22,073
 )    
-
      
(141
 )    
-
      
-
      
(141
 )
Other comprehensive loss
    
-
      
-
      
-
      
-
      
(78
 )    
(78
 )
Net income
    
-
      
-
      
-
      
262
      
-
      
262
  
Balance at March 31, 2021
    
33,849,566
     $
339
     $
95,218
     $
(42,215
 )   $
141
     $
53,144
  
 
   
 
 
 
  
 
 
 
  
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
     $
89,572
     $
(53,732
 )   $
(459
 )   $
35,381
  
Share-based compensation expense
    
-
      
-
      
158
      
-
      
-
      
158
  
Issuance of common stock upon exercise of stock options, net
    
83,343
      
1
      
144
      
-
      
-
      
144
  
Other comprehensive loss
    
-
      
-
      
-
      
-
      
85
      
85
  
Net income
    
-
      
-
      
-
      
620
      
-
      
620
  
Balance at December 31, 2019
    
33,033,330
     $
331
     $
89,874
     $
(53,112
 )   $
(374
 )   $
36,388
  
                                                 
Share-based compensation expense
    
-
     $
-
     $
296
     $
-
     $
-
     $
296
  
Issuance of common stock upon exercise of stock options, net
    
56,861
      
-
      
114
      
-
      
-
      
114
  
Issuance of common stock upon vesting of restricted stock units
    
198,106
      
2
      
-
      
-
      
-
      
-
  
Shares retained for payment of taxes in connection with net share settlement of restricted stock units
    
(13,063
 )    
-
      
(41
 )    
-
      
-
      
(41
 )
Stock buyback
    
(156,505
 )    
(2
 )    
(398
 )    
-
      
-
      
(398
 )
Other comprehensive loss
    
-
      
-
      
-
      
-
      
(69
 )    
(69
 )
Net loss
    
-
      
-
      
-
      
302
      
 
      
302
  
Balance at March 31, 2020
    
33,118,729
     $
331
     $
89,845
     $
(52,810
 )   $
(443
 )   $
36,592
  
 
Common Stock Activity
 
On
March 18, 2021,
the Company filed an amendment to its Certificate of Incorporation, as amended, with the Secretary of State of Delaware to increase the authorized number of shares of common stock of the Company from
50,000,000
to
100,000,000
shares (the “Amended Certificate”). The Amended Certificate was approved by the Company's stockholders at the Company's Annual Meeting of Stockholders on
March 16, 2021.
 
(in thousands, except per share and share amounts)
(Unaudited)
 
During the
six
months ended
March 31, 2021,
the Company issued
86,462
shares of common stock and received gross proceeds of
$170
in connection with the exercise of stock options. During the
six
months ended
March 31, 2020,
the Company issued
140,204
shares of common stock and received gross proceeds of
$258
in connection with the exercise of stock options. During the
six
months ended
March 31, 2021,
the Company issued
201,560
shares of commons stock in connection with the vesting of RSUs. During the
six
months ended
March 31, 2020,
the Company issued
185,043
shares of common stock in connection with the vesting of RSUs. 
 
In connection with the Amika Mobile asset purchase, the Company agreed to issue
191,267
shares of the Company's common stock to the former owners of Amika Mobile on each of the first,
second
and
third
anniversaries of the closing date. The total number of shares of common stock the Company is obligated to issue is
573,801.
The fair value of the Company's common stock on the closing date was
$5.98,
resulting in the addition of
$3,431
to additional paid-in-capital.
 
Share Buyback Program
 
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. In
December 2020,
the Board of Directors extended the buyback program until
December 31, 2022.
The previous program expired on
December 31, 2018.
 
During the
six
months ended
March 31, 2021
no
shares were repurchased by the Company. During the
six
months ended
March 31, 2020,
the Company repurchased
156,505
shares for
$398.
 
Dividends
 
There were
no
dividends declared in the
six
months ended
March 31, 2021
and
2020.