SHAREHOLDERS' EQUITY

9 Months Ended

Jun. 30, 2012

Stockholders Equity Note [Abstract]

SHAREHOLDERS' EQUITY

NOTE 5     SHAREHOLDERS’ EQUITY

Anti-takeover Provisions

The Company is authorized to issue up to 4,000,000 shares of "blank check" preferred stock. The Board of Directors has the authority and discretion, without shareholder approval, to issue preferred stock in one or more series for any consideration it deems appropriate, and to fix the relative rights and preferences thereof including their redemption, dividend and conversion rights.

Stock Repurchase

In September 2002 and January 2004, the Company’s Board of Directors authorized the repurchase of up to an aggregate of 486,200 shares of outstanding common stock. Under those authorizations, as of June 30, 2012, the Company had repurchased an aggregate of 172,603 shares at a cost of approximately $403,000, but none during the three and nine-month periods ended June 30, 2012 and 2011.

Changes in Shareholders’ Equity

Changes in shareholders’ equity for the nine-month period ended June 30, 2012 are summarized below:

	Common Stock	Capital In Excess of Par Value	Retained Earnings (Accumulated Deficit)	Treasury Stock	Accumulated Other Comprehensive Loss	Totals
Balance at October 1, 2011.	$87,943	$16,845,673	$3,009,130	$(1,260,057)	$  --	$18,682,689
Share-based compensation......	173	124,022	--	--	--	124,195
Foreign currency translation..........	--	--	--	--	(11,558)	(11,558)
Net loss	--	--	(6,365,983)	--	--	(6,365,983)
Balance at June 30, 2012.................	$88,116	$16,969,695	$(3,356,853)	$(1,260,057)	$(11,558)	$12,429,343