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Note 1 - Basis of Presentation
3 Months Ended
Dec. 31, 2013
Disclosure Text Block [Abstract]  
Business Description and Basis of Presentation [Text Block]

NOTE 1. BASIS OF PRESENTATION


The accompanying consolidated financial statements of National Holdings Corporation (“National” or the “Company”) have been prepared in accordance with generally accepted accounting principles in the United States (“US GAAP”) for interim financial statements and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and disclosures required for annual financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The consolidated financial statements as of December 31, 2013 and for the three months ended December 31, 2013 and 2012 are unaudited. The results of operations for the interim periods are not necessarily indicative of the results of operations for the respective fiscal years. The accompanying consolidated financial information should be read in conjunction with the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2013.


Merger


On October 15, 2013, we completed a merger with Gilman Ciocia pursuant to the terms and conditions of the Agreement and Plan of Merger (the “Merger Agreement”), dated as of June 20, 2013, by and among us, National Acquisition Corp., a Delaware corporation and our wholly-owned subsidiary (“Merger Sub”), and Gilman, Merger Sub was merged with and into Gilman, with Gilman surviving the merger and becoming a wholly-owned subsidiary of the Company.


Pursuant to the Merger Agreement, the Company issued to the Gilman stockholders approximately 22.66 million shares of its common stock in exchange for all outstanding shares of Gilman common stock.