Income Taxes (Tables)

12 Months Ended

Sep. 30, 2013

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets (liabilities) are comprised of the following at September 30:


	2013		2012
	Current	Long Term	Current	Long Term
Deferred assets (liabilities):
Tax effect of net operating loss carry-forward (includes $8,400 of charitable carry-forward)	$ 0	$ 2,733,000	$ 0	$ 2,666,000
Partnership basis difference	0	168,000	0	148,000
Deferred revenue	0	107,000	0	117,000
Property and equipment basis differences	0	400,000	0	387,000
Other accrued liability difference	12,000	94,000	68,000	57,000
Net deferred tax assets	12,000	3,502,000	68,000	3,375,000
Less valuation allowance*	(12,000)	(3,502,000)	(68,000)	(3,375,000)
Net deferred tax assets	$ 0	$ 0	$ 0	$ 0

The valuation allowance increased by $71,000 during the year ended September 30, 2013.

Schedule of Income Tax Expense

Total income tax expense for the years ended 2013 and 2012 differed from the amounts computed by applying the U.S. Federal statutory tax rates to pre-tax income as follows:


	2013	2012
Total expense (benefit) computed by applying the U.S. Statutory rate (35%)	$ (240,000)	$ (272,000)
State income tax, net of federal tax benefit	(21,000)	(23,000)
Effect of change in valuation allowance	71,000	(403,000)
Permanent differences	29,000	13,000
Expiration of net operating loss carry-forward	149,000	680,000
Other	12,000	5,000

Provision for income taxes	$ 0	$ 0