Quarterly report pursuant to Section 13 or 15(d)

11. Stock-based Compensation (Tables)

v3.8.0.1
11. Stock-based Compensation (Tables)
 6 Months Ended
Mar. 31, 2017
Share-based Compensation [Abstract]  
Stock option activity
    Number of Shares     Weighted Average Exercise Price     Weighted Average Remaining Contractual Life     Intrinsic Value  
Outstanding at September 30, 2016     175,000     $ 11.22       3.75     $ 346,500  
Granted     36,668                          
Exercised     –                          
Forfeited     –                          
Outstanding at March 31, 2017     211,668     $ 13.19       3.98     $ 899,875  
Exercisable at March 31, 2017     168,750     $ 8.85       2.54     $ 899,875  
Stock option exercise price
Outstanding     Exercisable  
Number of     Exercise     Number of     Exercise  
Options     Price     Options     Price  
  31,250     $ 5.00       31,250     $ 5.00  
  25,000       7.50       25,000       7.50  
  31,250       10.00       31,250       10.00  
  4,167       10.86                  
  4,167       10.86                  
  4,167       10.86                  
  4,167       10.86                  
  6,250       12.50       6,250       12.50  
  6,250       15.00       –       15.00  
  75,000       15.18       75,000       15.18  
  4,000       23.41                  
  4,000       27.60                  
  4,000       31.74                  
  4,000       36.50                  
  4,000       41.98                  
  211,668               168,750          
Non-vested share activity
Non-vested Shares     Number of Shares       Weighted Average Grant-Date Fair Value  
                 
Non-vested at September 30, 2016     6,250     $ 14.22  
Granted     36,668     $ 17.70  
Vested     –           
Non-vested at March 31, 2017     42,918     $ 17.19  
Assumptions used
Risk-free interest rate   1.25%
Expected life of the options   5.0 to 10.0 years
Expected volatility   107%
Expected dividend yield   0%