INCOME PER COMMON SHARE (Tables)

9 Months Ended

Jun. 30, 2021

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 nine months ended June 30, 2021 and 2020 (in thousands, except share and per share data):

	For the Three Months Ended June 30,						For the Nine Months Ended June 30,
	2021			2020			2021			2020
Income (loss):
Net income (loss)	$	870		$	(1,297	)	$	1,721		$	(2,354	)
Preferred stock dividends		(197	)		(174	)		(566	)		(500	)
Net Income (loss) available to common stockholders	$	673		$	(1,471	)	$	1,155		$	(2,854	)
Common Shares:
Basic - weighted average common shares		939,613			872,838			937,234			868,033
Effect of dilutive securities:
Stock options		54,918			—			44,288			—
Convertible preferred stock		310			—			310			—
Diluted - weighted average common stock		994,841			872,838			981,832			868,033
Income (loss) per Common Share:
Basic -
Net income (loss)	$	0.93		$	(1.49	)	$	1.84		$	(2.71	)
Preferred stock dividends		(0.20	)		(0.20	)		(0.60	)		(0.58	)
Net Income (loss) available to common stockholders	$	0.73		$	(1.69	)	$	1.24		$	(3.29	)
Diluted -
Net income (loss)	$	0.88		$	(1.49	)	$	1.75		$	(2.71	)
Preferred stock dividends		(0.20	)		(0.20	)		(0.58	)		(0.58	)
Net income (loss) available to common stockholders	$	0.68		$	(1.69	)	$	1.17		$	(3.29	)

Potentially Diluted Securities

The computation for the diluted number of shares excludes unvested restricted stock and unexercised stock options that are anti-dilutive. There were 54,918 dilutive shares for the nine-month periods ended June 30, 2021. Potentially dilutive securities as of June 30, 2021 and 2020 were as follows:

	June 30,
	2021		2020
Employee Stock Options		98,994		114,496
Non-employee Stock Options		—		36,053
Employee Restricted Stock		—		5,000
Non-employee Restricted Stock		—		26,667
Convertible Preferred Stock		310		3,310
		99,304		185,526