Note 6 - Facility Exit Liability and Costs

12 Months Ended

Sep. 30, 2012

Restructuring and Related Activities Disclosure [Text Block]

6. Facility Exit Liability and Costs

Facility exit costs relate to an operating office lease that had been intended for use in real estate lending activities. A total of $166,845 was accrued as an exit liability in July 2009 in accordance with ASC 420, Exit or Disposal Cost Obligation. In June 2010 the Company entered into a sublease on the 3,747 feet of improved office space. The landlord granted a 50% rent concession for the six months ending December 2009, a 25% concession for the twelve months ending December 2010, and a 17% concession for the 10 months ending March 2012 (end of lease term).

The following table summarizes facility exit liability activity for the years ended September 30, 2012 and 2011:

	Year Ended September 30, 2012			Year Ended September 30, 2011
Accrual balance beginning of period	$	32,329		$	82,154
Accrual correction for cash flow assumptions		-			1,085
Accretion expense		635			4,953
Payment - net		(32,964	)		(55,863	)
Accrual balance end of period	$	-		$	32,329

In the accompanying statement of operations, the expense for accrual corrections are included in other expenses, and all other facility exit costs and related accretion expense are included in selling, general and administrative expenses.