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14. Income Taxes (Tables)

12 Months Ended

Sep. 30, 2016

Income Tax Disclosure [Abstract]

Reconciliation of income tax expense

		2016				2015
Current expense:
Federal		$	–			$	320,000
State			31,161				56,000
			31,161				376,000
Deferred expense:
Federal			(12,524,582	)			–
State			–				–
			–				–
Total income tax expense		$	(12,493,221	)		$	376,000

Reconciliation between effective and statutory income tax rates

		2016								2015
		Amount				Percent				Amount				Percent
Federal statutory rates		$	1,830,150				34%			$	(4,874,337	)			34%
State income taxes			161,484				3%				(123,292	)			1%
Permanent differences			(852,646	)			-16%				2,794,987				-19%
Net operating loss adjustment			(1,083,866	)			-20%				327,477				-2%
Valuation allowance against net deferred tax assets			(12,284,278	)			-228%				2,251,165				-16%
Other			(264,065	)			-5%				–				0%
Effective rate		$	(12,493,221	)			-227%			$	376,000				-3%

Schedule of deferred income tax assets and liabilities

		2016				2015
Deferred income tax asset, current:
Book to tax differences in accounts receivable		$	406,733			$	374,621
Book to tax differences in prepaid expenses			–				65,467
Book to tax difference in accrued expenses			241,536				144,961
Book to tax differences in inventory			414,575				–
Total deferred income tax asset, current			1,062,844				585,049
Less: valuation allowance			–				(585,049	)
Deferred income tax asset, current, net			1,062,844				–
Deferred income tax asset, long-term:
Net operation loss carryforwards			9,915,371				10,801,243
Book to tax differences in intangible assets			633,869				632,557
Book to tax differences in organizational costs			160,586				272,239
Book to tax differences in depreciation			751,912				(6,810	)
Total deferred income tax asset, long-term			11,461,738				11,669,229
Less: valuation allowance			–				(11,669,229	)
Deferred income tax asset, net			11,461,738				–
Total deferred income tax asset		$	12,524,582			$	–

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- 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

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=65882285&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

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32537-109319

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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

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32687-109319

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