Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

Stock-Based Compensation (Tables)

6 Months Ended

Mar. 31, 2021

The following table summarizes stock option activity for the twelve months ended September 30, 2020 and the six months ended March 31, 2021:

	Number of Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life		Intrinsic Value
Outstanding at September 30, 2019		200,418		$	16.37		2.40	$	27
Forfeited		(81,250	)
Outstanding at September 30, 2020		119,168		$	19.07		2.71	$	—
Exercisable at September 30, 2020		95,001		$	15.50		1.55	$	—

Outstanding at September 30, 2020		119,168		$	19.07		2.71	$	—
Granted		1,250
Exercised		—
Forfeited		—
Outstanding at March 31, 2021		120,418		$	19.12		2.87	$	564
Exercisable at March 31, 2021		107,168		$	16.71		2.19	$	564

Summary of Exercise Price for Stock Options Outstanding and Exercisable

The exercise price for stock options outstanding and exercisable outstanding at March 31, 2021 is as follows:

Outstanding				Exercisable
Number of Options		Exercise Price ($)		Number of Options		Exercise Price ($)
	25,000		10.00		25,000		10.00
	16,668		10.86		16,668		10.86
	6,250		12.50		6,250		12.50
	6,250		15.00		6,250		15.00
	25,000		15.18		25,000		15.18
	8,000		23.41		8,000		23.41
	1,250		23.89		—		—
	8,000		27.60		8,000		27.60
	8,000		31.74		8,000		31.74
	8,000		36.50		4,000		36.50
	8,000		41.98		—		—
	120,418				107,168

Summary of Non-Vested Shares

The following table summarizes information about the Company’s non-vested shares outstanding as of March 31, 2021:

Non-vested Shares	Number of Shares			Average Grant-Date Fair Value
Non-vested at September 30, 2020		24,167		$	33.10
Granted		1,250		$	23.89
Vested		(12,167	)	$	26.15
Non-vested at March 31, 2021		13,250		$	38.62

Summary of Black-Scholes Model Valuation Assumptions for Stock Options Granted

The following table depicts the Black-Scholes model valuation assumptions for the stock options granted during the six months ended March 31, 2021. There were no stock option grants during the six months ended March 31, 2020.

Risk-free interest rate		1.15%
Expected life of the options		6 years
Expected volatility		99%
Expected dividend yield		0%