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Note 15 - Related Party Transactions
 9 Months Ended
Jun. 30, 2022
Notes to Financial Statements  
Related Party Transactions Disclosure [Text Block]

15.  Related Party Transactions

 

In October 2013, Mr. Michael Taglich joined the Board of Directors. Michael Taglich is the Chairman and President of Taglich Brothers, Inc. (“Taglich Brothers”), a New York based securities firm.

 

In November 2018, the Company engaged Taglich Brothers Inc, on a non-exclusive basis, to perform advisory and investment banking services to identify possible acquisition target possibilities. Michael Taglich is a director and shareholder of the Company. Taglich Brothers Inc. could also earn a success fee of up to $1 million for identifying an acquisition target, depending on revenue of the target.

 

In connection with the February and May 2021 Offerings (see Note 8), Taglich Brothers, Inc. received warrants to purchase 82,945 shares of the Company’s common stock with a weighted average exercise price of $3.21 and weighted average term of 5.0 years.