INCOME PER COMMON SHARE (Tables)

6 Months Ended

Mar. 31, 2019

INCOME PER COMMON SHARE [Abstract]

Reconciliation of Basic and Diluted Income (Loss) per Share

The following table provides a reconciliation of the basic and diluted income (loss) per share ("EPS") computations for the three and six months ended March 31, 2019 and 2018 (in thousands, except share and per share data):

	For the Three Months Ended March 31,						For the Six Months Ended March 31,
	2019			2018			2019			2018
Income:
Net income (loss)	$	175		$	(217	)	$	719		$	(37	)
Gain on extinguishment of Preferred stock Series C dividends		-			-			-			1,312
Preferred stock dividends		(148	)		(91	)		(270	)		(197	)
Net Income (loss) availible to common stockholders	$	27		$	(308	)	$	449		$	1,078
Common Shares:
Basic - weighted average common shares		847,784			568,974			847,621			565,629
Effect of dilutive securities:
Stock options		51,097			-			54,644			-
Restricted stock		20,369			-			19,162			-
Convertible preferred stock		12,710			-			12,710			-
Diluted - weighted average common stock	$	931,960		$	568,974		$	934,137		$	565,629
Income per Common Share:
Basic -
Net income (loss)	$	0.21		$	(0.38	)	$	0.85		$	(0.06	)
Gain on extinguishment of Preferred stock dividends Series C		-			-			-			2.32
Preferred stock dividends		(0.17	)		(0.16	)		(0.32	)		(0.35	)
Net Income (loss) availible to common stockholders	$	0.04		$	(0.54	)	$	0.53		$	1.91
Diluted -
Net income (loss)	$	0.18		$	(0.38	)	$	0.77		$	(0.06	)
Gain on extinguishment of Preferred stock dividends Series C		-			-			-			2.32
Preferred stock dividends		(0.15	)		(0.16	)		(0.29	)		(0.35	)
Net income (loss) availible to common stockholders	$	0.03		$	(0.54	)	$	0.48		$	1.91

Potentially Diluted Securities

Potentially diluted securities as of March 31, 2019 and 2018 are as follows:

	March 31,
	2019		2018
Employee Stock Options		118,798		112,798
Non-employee Stock Options		51,053		51,053
Employee Restricted Stock		5,000		10,000
Non-employee Restricted Stock		26,667		41,666
Warrants		-		250,000
Convertible Preferred Stock		12,710		12,710
		214,228		478,227