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Accounting Policies, by Policy (Policies)
9 Months Ended
Jun. 30, 2012
Consolidation, Policy [Policy Text Block] PRINCIPLES OF CONSOLIDATION The consolidated financial statements include the accounts of the Company and Span Medical Products Canada Inc. ("Span-Canada"), its wholly-owned subsidiary.Significant intercompany accounts and transactions have been eliminated.
Foreign Currency Transactions and Translations Policy [Policy Text Block] FOREIGN CURRENCY TRANSLATION The assets and liabilities of Span-Canada, operating under the name "M.C. Healthcare Products," which uses the Canadian dollar as its functional currency, are translated into U.S. dollars at the quarter-end exchange rate.Revenues and expenses are translated at weighted average exchange rates.The resulting translation adjustments are recorded as a separate component of shareholders' equity.
New Accounting Pronouncements, Policy [Policy Text Block] RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS Accounting standards that have been issued or proposed by the Financial Accounting Standards Board (FASB) or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on our financial statements upon adoption.
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] STOCK-BASED COMPENSATION We measure and recognize compensation expense for all stock-based payments at fair value.Stock-based payments include stock option grants.We have granted options to purchase common stock to some of our employees under various plans at prices equal to the market value of the stock on the dates the options were granted. The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions for grants made on November 9, 2010 during fiscal year 2011: risk-free interest rate of 2.54%; dividend yield of 2.5%; volatility factor of the expected market price of our common stock of 43.02%; and a weighted average expected life of the option of 9.0 years.No options were granted during the nine months ended June 30, 2012.