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Restatement
12 Months Ended
Sep. 30, 2019
Accounting Changes And Error Corrections [Abstract]  
Restatement

10.

Restatement

 

Basic and Diluted Net Income per Common Share Available to Common Shareholders:

Subsequent to the issuance of the Company's consolidated financial statements for the year ended September 30, 2018, we determined our previously issued consolidated financial statements included warrants with a nominal conversion price in diluted income per common share available to common shareholders, however, they should have been included in basic income per common share available to common shareholders.  As a result, basic income per common share available to common shareholders for the years ended September 30, 2018 and 2017 have been restated to appropriately include the warrants with a nominal conversion price in basic income per common share available to common shareholders. Since diluted shares are under the treasury stock method, diluted common share available to common shareholders were impacted by this change and have been restated.  

The restatement adjustment did not impact our previously reported consolidated balance sheet, consolidated statements of stockholders' equity, consolidated statements of cash flows, or net income (in thousands, except per share data).

 

 

 

Twelve Months Ended September 30, 2018

 

 

 

As Previously

Reported

 

 

As Restated

 

Net income per common share available to

   common shareholders - Basic

 

$

2.46

 

 

$

1.34

 

Shares used in computing net income per common

   share available to common shareholders - Basic

 

 

13,516

 

 

 

24,826

 

Net income per common share available to

   common shareholders - Diluted

 

$

1.32

 

 

$

1.32

 

Shares used in computing net income per common

   share available to common shareholders - Diluted

 

 

25,171

 

 

 

25,257

 

 

 

 

Twelve Months Ended September 30, 2017

 

 

 

As Previously

Reported

 

 

As Restated

 

Net income per common share available to

   common shareholders - Basic

 

$

3.01

 

 

$

1.41

 

Shares used in computing net income per common

   share available to common shareholders - Basic

 

 

10,919

 

 

 

23,201

 

Net income per common share available to

   common shareholders - Diluted

 

$

1.40

 

 

$

1.40

 

Shares used in computing net income per common

   share available to common shareholders - Diluted

 

 

23,386

 

 

 

23,370