National (NHLD) 10-K 29 Dec 20 2020 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Sep. 30, 2020	Nov. 30, 2020	Mar. 31, 2020
Document Information [Line Items]
Entity Registrant Name	NATIONAL HOLDINGS CORP
Entity Central Index Key	0001023844
Trading Symbol	nhld
Current Fiscal Year End Date	--09-30
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding (in shares)		13,639,622
Entity Public Float			$ 4,433,720
Entity Shell Company	false
Document Type	10-K
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false
Title of 12(b) Security	Common Stock, $0.02 par value per share

Consolidated Statements of Fina

Consolidated Statements of Financial Condition - USD ($)	Sep. 30, 2020	Sep. 30, 2019
ASSETS
Cash	$ 27,327,000	$ 30,443,000
Restricted cash	962,000	960,000
Cash deposits with clearing organizations	686,000	436,000
Securities owned, at fair value	4,739,000	12,481,000
Receivables from broker dealers and clearing organizations	3,367,000	3,490,000
Forgivable loans receivable	4,269,000	1,834,000
Other receivables, net	12,394,000	5,672,000
Prepaid expenses	4,258,000	3,639,000
Fixed assets, net	4,382,000	5,067,000
Intangible assets, net	12,276,000	5,441,000
Goodwill	11,673,000	5,153,000
Deferred tax asset, net	4,795,000	4,560,000
Right-of-use assets	14,721,000
Other assets	1,388,000	2,031,000
Total Assets	107,237,000	81,207,000
Liabilities
Accrued commissions and payroll payable	15,445,000	18,590,000
Accounts payable and other accrued expenses	9,656,000	8,643,000
Deferred clearing and marketing credits	157,000	367,000
Contingent consideration	10,401,000	1,620,000
Present value of lease obligations, operating leases	16,719,000
PPP Loans	6,523,000
Other	1,701,000	388,000
Total Liabilities	60,602,000	29,608,000
Commitments and Contingencies (Note 13)
Stockholders’ Equity
Preferred stock, $0.01 par value, 10,000,000 shares authorized; none outstanding
Common stock $0.02 par value, authorized 75,000,000 shares at September 30, 2020 and 2019; 13,639,622 shares issued and outstanding at September 30, 2020 and 13,158,441 shares issued and outstanding at September 30, 2019	273,000	263,000
Additional paid-in-capital	93,079,000	90,354,000
Accumulated deficit	(46,717,000)	(40,779,000)
Total National Holdings Corporation Stockholders’ Equity	46,635,000	49,838,000
Non-controlling interest		1,761,000
Total Stockholders’ Equity	46,635,000	51,599,000
Total Liabilities and Stockholders’ Equity	$ 107,237,000	$ 81,207,000

Consolidated Statements of Fi_2

Consolidated Statements of Financial Condition (Parentheticals) - $ / shares	Sep. 30, 2020	Sep. 30, 2019
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.02	$ 0.02
Common stock, shares authorized (in shares)	75,000,000	75,000,000
Common stock, shares issued (in shares)	13,639,622	13,158,441
Common stock, shares outstanding (in shares)	13,639,622	13,158,441

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Revenues
Revenues from contracts with customers	$ 223,959,000	$ 207,884,000
Net dealer inventory (losses) gains	1,076,000	(1,466,000)
Interest and dividends	4,334,000	5,822,000
Other	506,000	701,000
Total Revenues	229,875,000	212,941,000
Operating Expenses
Commissions, compensation and fees	195,938,000	175,453,000
Clearing fees	8,474,000	4,808,000
Communications	3,588,000	2,816,000
Occupancy	5,053,000	4,301,000
Licenses and registration	3,871,000	2,960,000
Professional fees	9,320,000	7,306,000
Interest	90,000	32,000
Depreciation and amortization	2,854,000	1,832,000
Other administrative expenses	9,203,000	11,333,000
Total Operating Expenses	238,391,000	210,841,000
Income before Other Income (Expense) and Income Taxes	(8,516,000)	2,100,000
Other Income (Expense)
Gain on disposal of Gilman branches	297,000
Change in fair value of warrants	140,000
Other income		60,000
Total Other Income (Expense)	437,000	60,000
Income (Loss) before Income Taxes	(8,079,000)	2,160,000
Income tax expense (benefit)	(1,865,000)	319,000
Net Income (Loss)	(6,214,000)	1,841,000
Net income (loss) attributable to non-controlling interest	276,000	(2,660,000)
Net income (loss) attributable to National Holdings Corporation common shareholders	$ (5,938,000)	$ (819,000)
Net income (loss) per share attributable to National Holdings Corporation common shareholders - Basic (in dollars per share)	$ (0.44)	$ (0.06)
Net income (loss) per share attributable to National Holdings Corporation common shareholders - Diluted (in dollars per share)	$ (0.44)	$ (0.06)
Weighted average number of shares outstanding - Basic (in shares)	13,414,009	12,821,581
Weighted average number of shares outstanding - Diluted (in shares)	13,414,009	12,821,581
Commissions [Member]
Revenues
Revenues from contracts with customers	$ 116,898,000	$ 86,929,000
Banking [Member]
Revenues
Revenues from contracts with customers	51,280,000	69,656,000
Investment Advice [Member]
Revenues
Revenues from contracts with customers	35,676,000	34,400,000
Clearing Service [Member]
Revenues
Revenues from contracts with customers	9,957,000	8,092,000
Tax Preparation and Accounting [Member]
Revenues
Revenues from contracts with customers	$ 10,148,000	$ 8,807,000

Consolidated Statement of Chang

Consolidated Statement of Changes in Stockholders' Equity - USD ($)	Cumulative Effect, Period of Adoption, Adjustment [Member]Common Stock [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Additional Paid-in Capital [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Retained Earnings [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Noncontrolling Interest [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Common Stock [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Additional Paid-in Capital [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Retained Earnings [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Noncontrolling Interest [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]	Total
BALANCE (in shares) at Sep. 30, 2018						12,541,890					12,541,890
BALANCE at Sep. 30, 2018			$ (135,000)		$ (135,000)	$ 250,000	$ 86,510,000	$ (39,960,000)		$ 46,800,000	$ 250,000	$ 86,510,000	$ (39,825,000)		$ 46,935,000
Issuance of shares of common stock for warrant exercises (in shares)											38
Issuance of shares of common stock for warrant exercises
Stock – based compensation for restricted stock units												4,282,000			4,282,000
Issuance of shares of common stock with respect to vested restricted stock units, net of tax withholding (in shares)											616,513
Issuance of shares of common stock with respect to vested restricted stock units, net of tax withholding											$ 13,000	(438,000)			(425,000)
Distributions to non-controlling interest														(899,000)	(899,000)
Net income (loss)													(819,000)	2,660,000	1,841,000
BALANCE (in shares) at Sep. 30, 2019											13,158,441
BALANCE at Sep. 30, 2019											$ 263,000	90,354,000	(40,779,000)	1,761,000	51,599,000
Stock – based compensation for restricted stock units												3,108,000			3,108,000
Issuance of shares of common stock with respect to vested restricted stock units, net of tax withholding (in shares)											481,181
Issuance of shares of common stock with respect to vested restricted stock units, net of tax withholding											$ 10,000	(383,000)			(373,000)
Distributions to non-controlling interest														(1,485,000)	(1,485,000)
Net income (loss)													(5,938,000)	(276,000)	(6,214,000)
BALANCE (in shares) at Sep. 30, 2020											13,639,622
BALANCE at Sep. 30, 2020											$ 273,000	$ 93,079,000	$ (46,717,000)		$ 46,635,000

Consolidated Statement of Cha_2

Consolidated Statement of Changes in Stockholders' Equity (Parentheticals) - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Value of issuance of shares, tax withholding	$ 373,000	$ 425,000
Issuance of shares, tax withholding (in shares)	165,300	144,269

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ (6,214,000)	$ 1,841,000
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Depreciation and amortization	2,854,000	1,832,000
Amortization of forgivable loans	894,000	680,000
Stock-based compensation	3,108,000	4,282,000
Provision (recovery) for doubtful accounts	191,000	(216,000)
Deferred income tax expense (benefit)	(2,905,000)	(368,000)
Amortization of deferred clearing and marketing credit	(210,000)	(209,000)
Change in fair value of contingent consideration	311,000	65,000
Disposition/settlement of contingent consideration	(540,000)
Impairment of intangible assets	401,000
Impairment of goodwill	724,000	0
Gain on disposal of Gilman branches	(297,000)
Amortization of right-of-use assets	3,200,000
Changes in assets and liabilities
Cash deposits with clearing organizations	(10,000)	(100,000)
Receivables from broker dealers and clearing organizations	172,000	477,000
Forgivable loans receivable	(3,508,000)	(1,052,000)
Other receivables, net	(5,879,000)	(1,200,000)
Securities owned, at fair value	8,853,000	(4,695,000)
Prepaid expenses	959,000	426,000
Other assets	449,000	(629,000)
Accounts payable, accrued expenses and other liabilities	(3,794,000)	6,542,000
Securities sold, but not yet purchased at fair value	(203,000)
Net cash provided by (used in) operating activities	(1,444,000)	7,676,000
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of businesses	(4,945,000)	(387,000)
Purchase of fixed assets	(240,000)	(2,744,000)
Collection on notes receivable - disposal of National Tax branches	71,000	114,000
Net cash used in investing activities	(5,114,000)	(3,017,000)
CASH FLOWS FROM FINANCING ACTIVITIES
Repurchase of common stock for tax withholding	(373,000)	(425,000)
Principal payments under capital lease obligations	(236,000)	(223,000)
Principal payments under Finance obligations	(229,000)	(365,000)
Proceeds from PPP related loans	6,497,000
Contingent consideration payments	(730,000)	(617,000)
Distributions to non-controlling interest	(1,485,000)	(899,000)
Net cash provided by (used in) in financing activities	3,444,000	(2,529,000)
NET (DECREASE) INCREASE IN CASH AND RESTRICTED CASH	(3,114,000)	2,130,000
CASH AND RESTRICTED CASH BALANCE
Beginning of the year	31,403,000	29,273,000
End of the year	28,289,000	31,403,000
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Interest	53,000	32,000
Income taxes, net of refunds	108,000	118,000
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES
Fixed assets (acquired but not paid)	1,000	380,000
Finance obligation		958,000
Assets acquired including goodwill	17,395,000	1,815,000
Contingent consideration payable	(9,740,000)	(1,428,000)
Additional consideration payable	(1,083,000)
Escrow deposit	(500,000)
Cash received	(1,127,000)
Cash paid, net of cash received	4,945,000	387,000
Notes receivable (included in other receivables)	636,000
Disposal of goodwill	(239,000)
Disposal of intangible assets, net	(100,000)
Gain on disposal of National Tax branch	$ 297,000

Note 1 - Organization and Descr

Note 1 - Organization and Description of Business	12 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	NOTE 1. National Holdings Corporation (“National” or 1996, 1 2 3 1991. Our wholly-owned subsidiary, National Asset Management, Inc., a Washington corporation (“NAM”), is a federally-registered investment adviser providing asset management advisory services to retail clients for a fee based upon a percentage of assets managed. Our wholly-owned subsidiaries, National Insurance Corporation., a Washington corporation (“National Insurance”) and Prime Financial Services, a Delaware corporation (“Prime Financial”), provide fixed insurance products to their clients, including life insurance, disability insurance, long-term care insurance and fixed annuities. Our wholly-owned subsidiary, National Tax and Financial Services, Inc. (“National Tax”) formerly Gilman Ciocia, Inc., provides tax preparation and accounting services to individuals and small to midsize companies. Our wholly-owned subsidiary, GC Capital Corporation (“GC”), provides licensed mortgage brokerage services in New York and Florida. Our wholly-owned subsidiary, Winslow, Evans & Crocker Insurance Agency, Inc., a Massachusetts corporation (“WIA”), provides fixed insurance products to its clients, and our wholly-owned subsidiary, Winslow Financial, Inc., a Massachusetts corporation (“WF”), is an SEC Registered Investment Advisor. Our wholly-owned subsidiary, United Advisors, LLC, a New Jersey limited liability company (“UA”), is a New York-based, advisor and wealth management firm. United Advisor Services, LLC, a New Jersey limited liability company (“UAS”), is an SEC Registered Investment Advisor, and Financial Services International Corporation, a Washington corporation (“FSIC”), is a FINRA registered broker-dealer.

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	12 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Significant Accounting Policies [Text Block]	NOTE 2. Basis of Presentation The financial statements are presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Principals of Consolidation The consolidated financial statements include the accounts of National and its wholly owned and majority owned subsidiaries. All significant inter-company accounts and transactions have been eliminated in consolidation. Non-controlling Interest NAM has a majority voting interest in Innovation X X” X, X Variable Interest Entities The Company has entered into agreements to provide investment banking and advisory services to numerous investment funds (the “Funds”) that are considered variable interest entities (“VIEs”) under the accounting guidance. These Funds are established primarily to make and manage investments in equity or convertible debt securities of privately held companies that the Company, as investment advisory to the Funds, believes possess innovative or disruptive technologies and present opportunities for an initial public offering (“IPO”) or another similar liquidity event within approximately one five six The Company earns fees from the Funds in the form of placement agent fees and carried interest. For placement agent fees, the Company receives a cash fee of generally 7% 10% 8% 15% one hundred 100% not not Placement agent fees attributable to such arrangements were $21,404,000 2020 $34,184,000 2019 Carried interest is recognized and recorded at the time of distribution and all contingencies are resolved. For the year ended September 30, 2020 no September 30, 2019 $15,872,000 $5,403,000 $10,469,000 September 30, 2019 $2,389,000 Unrecognized Carried Interest (Unaudited) Based on the investment performance of the Funds as of September 30, 2020 $8,086,000 $5,651,000. December 24, 2020, $49,776,000 $34,412,000, Use of Estimates The preparation of these financial statements in conformity with accounting principles generally accepted in the Unites States of America (“US GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could significantly differ from those estimates. Revenue Recognition Commission revenue represents commissions generated by the Company's registered representatives for their clients' purchases and sales of mutual funds, variable annuities, general securities and other financial products, most of which is paid to the registered representatives as commissions for initiating the transactions. Commission revenue is generated from front-end sales commissions that occur at the point of sale, as well as trailing commissions. The Company recognizes front-end sales commission revenue and related clearing and other expenses on transactions introduced to its clearing brokers on a trade date basis. The Company also recognizes front-end sales commissions and related expenses on transactions initiated directly between the registered representatives and product sponsors upon receipt of notification from sponsors of the commission earned. Commission revenue also includes 12b 1 Net dealer inventory gains, which are recorded on a trade-date basis, include realized and unrealized net gains and losses resulting from the Company's principal trading activities including equity-linked warrants received from investment banking activities. Investment banking revenues consist of underwriting revenues, advisory revenues and private placement fees. Underwriting revenues arise from securities offerings in which the Company acts as an underwriter and include management fees, selling concessions and underwriting fees. Management estimates the Company's share of the transaction-related expenses incurred by the syndicate. On final settlement, typically within 90 Investment advisory fees are derived from account management and investment advisory services. These fees are determined based on a percentage of the customers assets under management, may Interest is recorded on an accrual basis and dividends are recorded on the ex-dividend date. Transfer fees and fees for clearing services are recorded on a trade date basis. Tax preparation and accounting fees are recognized upon completion of the services. See Note 20 Income Taxes The Company accounts for income taxes in accordance with US GAAP which requires the recognition of tax benefits or expenses based on the estimated future tax effects of temporary differences between the financial statement and tax basis of its assets and liabilities. The effect on deferred taxes of a change in tax rates is recognized as income or loss in the period that includes the enactment date. Valuation allowances are established to reduce deferred tax assets to an amount that is more likely than not FASB ASC 740 not not 50% September 30, 2020 2019 no Securities Securities owned and securities sold, but not 9 Fixed Assets, net Fixed assets are recorded at cost net of accumulated depreciation and amortization. Depreciation is calculated using the straight-line method based on the estimated useful lives of the related assets (See Note 10 Fixed assets are reviewed for impairment whenever indicators of impairment exist. In such circumstances, the Company will estimate the future cash flows expected to result from the use of the asset and its eventual disposition. Future cash flows are the future cash inflows expected to be generated by an asset less the future outflows expected to be necessary to obtain those inflows. If the sum of the expected future cash flows (undiscounted and without interest charges) is less than the carrying amount of the asset, the Company will recognize an impairment loss to adjust to the fair value of the asset. Net Income per Common Share Basic net income per share is computed on the basis of the weighted average number of common shares outstanding. Diluted net income per share is computed on the basis of the weighted average number of common shares outstanding plus the dilutive effect of incremental shares of common stock potentially issuable under outstanding options, warrants and unvested restricted stock units utilizing the treasury stock method. A reconciliation of basic and diluted common shares used in the computation of per share data follows: Year Ended September 30, 2020 2019 Basic weighted-average shares 13,414,009 12,821,581 Effect of dilutive securities: Options — — Unvested restricted stock units — — Diluted weighted-average shares 13,414,009 12,821,581 At September 30, 2020 2019 9,166,422 9,321,747 Stock-based Compensation The Company measures the cost of employee, officer and director services received in exchange for an award of equity instruments including stock options and restricted stock units, based on the grant-date fair value of the award and measures the cost of independent contractor awards based on the vesting date fair value of the award. The cost is recognized as compensation expense over the service period, which would normally be the vesting period of the award. Deferred Clearing and Marketing Credits The deferred clearing credit represents a clearing fee rebate from National Financial Services (“NFS”), one 2021. 2020 2019 $143,000 two September 30, 2020 2019 $107,000 $250,000 The deferred marketing credit represents a marketing rebate from NFS, which is being recognized pro rata as a reduction of marketing expenses over the term of the clearing agreement which expires in 2021. 2020 2019 $67,000 two September 30, 2020 2019 $50,000 $117,000 Reimbursement of Expenses The Company incurs certain costs on behalf of its registered representatives including those for insurance, professional registration, technology and information services and legal services, amongst others, which are charged back to the registered representatives. It is the Company's policy to record the reimbursement as a reduction of the respective operating expense. Total reimbursements in fiscal years 2020 2019 $7,889,000 $7,422,000, Intangible Assets Intangible assets with finite lives, which consist of customer relationships, are being amortized over their estimated useful lives on a straight-line basis. Such intangible assets are tested for recoverability whenever events or changes in circumstances indicate that the carrying amount may not not Brand names are being amortized over their estimated useful lives on a straight-line basis and are tested for impairment annually, or more frequently if events or changes in circumstances indicate that the asset may 6 Goodwill Goodwill is not may 5. Cash and Restricted Cash The Company has defined cash as cash held at financial institutions and highly liquid investments with maturities of less than three not may Restricted cash consists of deposits collateralizing letters of credits in connections with property leases. Cash and restricted cash consist of the following: September 30, 2020 2019 Cash 27,327,000 30,443,000 Restricted cash 962,000 960,000 28,289,000 31,403,000 Receivables From Broker Dealers and Clearing organizations Receivables from broker dealers and clearing organizations represent net amounts due for fees and commissions associated with the Company's retail brokerage business. Forgivable Loans Forgivable Loans represent loans to primarily newly recruited independent financial advisors as an incentive for their affiliation. The notes receivable balance is comprised of unsecured non-interest-bearing and interest-bearing loans (interest ranging up to 9% Reclassifications Certain items in the statement of operations for 2019 2020. not

Note 3 - New Accounting Guidanc

Note 3 - New Accounting Guidance	12 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Text Block]	NOTE 3. In February 2016, 2016 02, 842 840 2016 02 not not 842 October 1, 2019, 2018 11 October 1, 2019. October 1, 2019 not 840. The Company elected to utilize the package of practical expedients permitted within the new standard, which among other things, allowed the Company to carryforward the historical lease classification. The Company made an accounting policy election to keep leases with an initial term of 12 Adoption of the new standard resulted in the recording of right-of-use assets and corresponding lease liabilities of $14,720,000 $16,309,000, October 1, 2019. 840. not no 2032. 21 In August 2018, 2018 13, 2018 13 October 1, 2020 2018 13 In December 2019, 2019 12, 2019 12 740, 740 2019 12 October 1, 2021, 2019 12

Note 4 - Business Combination,

Note 4 - Business Combination, Contingent Consideration and Disposal of Branches	12 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Business Combination Disclosure [Text Block]	NOTE 4. Business Combinations In January February 2019, three $387,000, $1,428,000, $1,815,000 seven In December 2019, January 2020 September 2020, three $582,000, $2,177,000, $2,759,000 seven The contingent consideration liabilities recognized in the above acquisitions were valued using an income-based approach using unobservable inputs (Level 3 not not Winslow acquisition On August 26, 2019, October 11, 2019, On December 31, 2019, Under the terms of the Winslow Agreement, at the closing of the Winslow Acquisition, the Company acquired the Purchased Shares for an aggregate purchase price of approximately $3.2 three not $1.0 September 22, 2022, not $1.5 not $3.0 September 20, 2022. $500,000 WEC is a Boston-based, full-service investment firm established in 1991. 50 The acquisition was accounted for using the acquisition method of accounting under which assets and liabilities of the Winslow Targets were recorded at their respective fair values including an amount for goodwill representing the difference between the acquisition consideration and the fair value of the identifiable net assets. A deferred tax liability has been recorded for the excess of financial statement basis over tax basis of the acquired assets and assumed liabilities with a corresponding increase to goodwill. The goodwill attributable to the acquisition has been recorded as a non-current asset and is not The acquisition price was allocated to the tangible and identified intangible assets acquired and liabilities assumed as of the closing date. The fair values assigned to tangible and identifiable intangible assets acquired and liabilities assumed are based on management's estimates and assumptions. The estimated fair values of assets acquired and liabilities assumed are considered preliminary and are based on the most recent information available. The Company believes that the information provides a reasonable basis for assigning the fair values of assets acquired and liabilities assumed. Thus, the provisional measurements of fair value set forth below are subject to change. The Company expects to finalize the valuation as soon as practicable, but not one The table below summarizes the assets acquired and liabilities assumed in connection with the Winslow acquisition as of December 31, 2019. Estimated Fair Value Assets Cash $ 1,111,000 Cash deposits with clearing organizations 207,000 Securities owned at fair value 1,111,000 Receivables from broker dealers and clearing organizations 49,000 Forgivable loans receivable 91,000 Other receivables, net 113,000 Prepaid expenses 432,000 Fixed assets, net 80,000 Intangible assets, net 4,400,000 Operating lease assets 1,823,000 Other assets 12,000 Total assets acquired 9,429,000 Liabilities Securities sold, not yet purchased at fair value 203,000 Accrued commissions and payroll payable 390,000 Accounts payable and accrued expenses 188,000 Operating lease liabilities 1,823,000 Deferred tax liability 1,196,000 Other 215,000 Total liabilities assumed $ 4,015,000 Net identifiable assets acquired $ 5,414,000 Goodwill 2,680,000 Total Purchase price $ 8,094,000 The intangible assets as of the closing date of the acquisition included: Amount Customer relationships 4,100,000 Brand name 300,000 $ 4,400,000 Indications of fair value of the intangible assets acquired in connection with the acquisition were determined using either the income, market or replacement cost methodologies. The intangible assets are being amortized over periods which reflect the pattern in which economic benefits of the assets are expected to be realized. The customer relationships are being amortized on an accelerated basis over an estimated useful life of twelve five Initial purchase price $ 3,200,000 Additional consideration payable (net operating capital) 873,000 Earnout (contingent consideration) 4,021,000 Total purchase price $ 8,094,000 Pro Forma Financial Information The following table presents the unaudited pro forma combined results of operations of the Company and Winslow for the twelve September 30, 2020 2019 October 1, 2018. not 2019. Twelve Months Ended September 30, 2020 2019 Net revenues $ 232,815,000 $ 223,811,000 Net Income (Loss) $ (6,187,000 ) $ 869,000 Net Income (Loss) attributable to common stockholders $ (5,911,000 ) $ (1,791,000 ) Net income (loss) per common share: Basic $ (0.44 ) $ (0.14 ) Diluted $ (0.44 ) $ (0.14 ) United Advisors Acquisition On February 7, 2020, On September 11, 2020, $3.0 $4.5 twelve UA is a New York-based, advisor and wealth management firm. UAS is an SEC Registered Investment Advisor and FSIC is a FINRA registered broker-dealer. More than 25 The acquisition was accounted for using the acquisition method of accounting under which assets and liabilities of UA, UAS and FSIC were recorded at their respective fair values including an amount for goodwill representing the difference between the acquisition consideration and the fair value of the identifiable net assets. A deferred tax liability has been recorded for the excess of financial statement basis over tax basis of the acquired assets and assumed liabilities with a corresponding increase to goodwill. The goodwill attributable to the acquisition has been recorded as a non-current asset and is not The acquisition price was allocated to the tangible and identified intangible assets acquired and liabilities assumed as of the closing date. The fair values assigned to tangible and identifiable intangible assets acquired and liabilities assumed are based on management's estimates and assumptions. The estimated fair values of assets acquired and liabilities assumed are considered preliminary and are based on the most recent information available. The Company believes that the information provides a reasonable basis for assigning the fair values of assets acquired and liabilities assumed. Thus, the provisional measurements of fair value set forth below are subject to change. The Company expects to finalize the valuation as soon as practicable, but not one The table below summarizes the assets acquired and liabilities assumed in connection with the United Advisors acquisition as of September 11, 2020. Estimated Fair Value Assets Cash $ 16,000 Cash deposits with clearing organizations 33,000 Other receivables, net 86,000 Prepaid expenses 12,000 Intangible assets, net 2,025,000 Total assets acquired 2,172,000 Liabilities Accounts payable and accrued expenses 7,000 Deferred tax liability 340,000 Other 86,000 Total liabilities assumed $ 433,000 Net identifiable assets acquired $ 1,739,000 Goodwill 4,803,000 Total Purchase price $ 6,542,000 The intangible assets as of the closing date of the acquisition included: Amount Customer relationships 1,960,000 Brand name 65,000 $ 2,025,000 Indications of fair value of the intangible assets acquired in connection with the acquisition were determined using either the income, market or replacement cost methodologies. The intangible assets are being amortized over periods which reflect the pattern in which economic benefits of the assets are expected to be realized. The customer relationships are being amortized on an accelerated basis over an estimated useful life of twelve one Initial purchase price $ 2,790,000 Additional consideration payable 210,000 Contingent consideration 3,542,000 Total purchase price $ 6,542,000 Pro Forma Financial Information The following table presents the unaudited pro forma combined results of operations of the Company and United Advisors for the twelve September 30, 2020 2019 October 1, 2018. not 2019. Twelve Months Ended September 30, 2020 2019 Net revenues $ 239,336,000 $ 222,948,000 Net Income (Loss) $ (7,960,000 ) $ 2,468,000 Net Income (Loss) attributable to common stockholders $ (7,684,000 ) $ (192,000 ) Net income (loss) per common share: Basic $ (0.57 ) $ (0.01 ) Diluted $ (0.57 ) $ (0.01 ) Contingent Consideration Set below are changes in the carrying value of contingent consideration for the years ended September 30, 2020 2019 Fair value of contingent consideration at September 30, 2018 744,000 Fair value of contingent consideration in connection with 2019 acquisitions 1,428,000 Payments (617,000 ) Change in fair value 65,000 Fair value of contingent consideration at September 30, 2019 1,620,000 Fair value of contingent consideration in connection with 2020 Tax & Accounting acquisitions 2,177,000 Fair value of contingent consideration in connection with Winslow acquisition 4,021,000 Fair value of contingent consideration in connection with UA acquisition 3,542,000 Payments (730,000 ) Disposition/settlement of contingent consideration (540,000 ) Change in fair value 311,000 Fair value of contingent consideration at September 30, 2020 $ 10,401,000 Disposal of National Tax Branches In January 2020, one $636,000 $239,000 $100,000, $297,000. 120 3% Notes receivable outstanding at September 30, 2020 2019 1,229,000 665,000

Note 5 - Goodwill

Note 5 - Goodwill	12 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Goodwill Disclosure [Text Block]	NOTE 5. Changes to the carrying amount of goodwill during the years ended September 30, 2020 2019 Brokerage and Advisory Services Tax and Accounting Services Total Balance as of September 30, 2018 $ 4,451,000 $ 702,000 $ 5,153,000 Impairment — — — Balance as of September 30, 2019 $ 4,451,000 $ 702,000 $ 5,153,000 Goodwill related to Winslow acquisition 2,680,000 — 2,680,000 Goodwill related to UA acquisition 4,803,000 — 4,803,000 Reduction related to sale of National Tax branches (164,000 ) (75,000 ) (239,000 ) Impairment (724,000 ) — (724,000 ) Balance as of September 30, 2020 $ 11,046,000 $ 627,000 $ 11,673,000 The annual quantitative impairment tests performed on September 30, 2020 $724,000. no September 30, 2019

Note 6 - Intangibles

Note 6 - Intangibles	12 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Intangible Assets Disclosure [Text Block]	NOTE 6. Intangibles consisted of the following at September 30, 2020 2019 September 30, 2020 Intangible asset Cost Accumulated Amortization Carrying Value Estimated Useful Life (years) Customer relationships $ 17,467,000 $ 5,988,000 $ 11,479,000 3 10 Brand name 1,075,000 282,000 793,000 1 5 Software license 45,000 41,000 4,000 3 $ 18,587,000 $ 6,311,000 $ 12,276,000 September 30, 2019 Intangible asset Cost Accumulated Amortization Carrying Value Estimated Useful Life (years) Customer relationships $ 9,326,000 $ 4,614,000 $ 4,712,000 3 10 Brand name 710,000 — 710,000 Indefinite Software license 45,000 26,000 19,000 3 $ 10,081,000 $ 4,640,000 $ 5,441,000 Amortization expense for the years ended September 30, 2020 2019 $1,848,000 $1,104,000 2020, three The estimated future amortization expense of the finite lived intangible assets for the next five Year ended September 30, 2021 $ 2,276,000 2022 2,154,000 2023 1,586,000 2024 1,242,000 2025 1,130,000 Thereafter 3,888,000 Total $ 12,276,000

Note 7 - Receivables from Broke

Note 7 - Receivables from Broker Dealers and Clearing Organizations and Other Receivables	12 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Due to and from Broker-Dealers and Clearing Organizations Disclosure [Text Block]	NOTE 7 . RECEIVABLES FROM BROKER DEALERS AND CLEARING ORGANIZATIONS AND OTHER RECEIVABLES At September 30, 2020 2019 3,367,000 3,490,000 Other receivables at September 30, 2020 2019 September 30, 2020 2019 Trailing fees 1,391,000 947,000 Accounts receivable for tax and accounting services 1,009,000 686,000 Allowance for doubtful accounts - tax and accounting services (347,000 ) (282,000 ) Advances to registered representatives 1,834,000 1,383,000 Investment banking receivable 2,383,000 411,000 Advisory fees 771,000 483,000 Notes receivable (Note 4) 1,229,000 665,000 Other 4,124,000 1,379,000 Total $ 12,394,000 $ 5,672,000

Note 8 - Forgivable Loans Recei

Note 8 - Forgivable Loans Receivable	12 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Investments in and Advances to Affiliates, Schedule of Investments [Text Block]	NOTE 8. FORGIVABLE LOANS RECEIVABLE From time to time, the Company's operating subsidiaries may 4% 2029. $894,000 $680,000 September 30, 2020 2019 September 30, 2020 2019 no Forgivable loan activity for the fiscal years ended September 30, 2020 2019 Balance, September 30, 2018 $ 1,567,000 Advances 1,052,000 Amortization (680,000 ) Reclassification to other receivables (105,000 ) Balance, September 30, 2019 1,834,000 Advances 3,508,000 Acquired through the Winslow acquisition (see note 4) 91,000 Amortization (894,000 ) Reclassification to other receivables (270,000 ) Balance, September 30, 2020 $ 4,269,000

Note 9 - Fair Value of Assets a

Note 9 - Fair Value of Assets and Liabilities	12 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Fair Value Disclosures [Text Block]	NOTE 9. US GAAP defines fair value, establishes a framework for measuring fair value, and establishes a fair value hierarchy which prioritizes the inputs to valuation techniques. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market. Valuation techniques that are consistent with the market or income approach are used to measure fair value. The fair value hierarchy ranks the quality and reliability of the information used to determine fair values. Financial assets and liabilities carried at fair value are classified and disclosed in one three Level 1 Level 2 Level 3 The following tables present the carrying values and estimated fair values at September 30, 2020 2019 September 30, 2020 Assets Carrying Value Level 1 Level 2 Total Estimated Fair Value Cash $ 27,327,000 $ 27,327,000 $ — $ 27,327,000 Cash deposits with clearing organizations 686,000 686,000 — 686,000 Receivables from broker-dealers and clearing organizations 3,367,000 — 3,367,000 3,367,000 Forgivable loans receivable 4,269,000 — 4,269,000 4,269,000 Other Receivables, Net 12,394,000 — 12,394,000 12,394,000 $ 48,043,000 $ 28,013,000 $ 20,030,000 $ 48,043,000 Liabilities Accrued commissions and payroll payable 15,445,000 — 15,445,000 15,445,000 Accounts payable and accrued expenses 9,656,000 — 9,656,000 9,656,000 $ 25,101,000 $ — $ 25,101,000 $ 25,101,000 September 30, 2019 Assets Carrying Value Level 1 Level 2 Total Estimated Fair Value Cash $ 30,443,000 $ 30,443,000 $ — $ 30,443,000 Cash deposits with clearing organizations 436,000 436,000 — 436,000 Receivables from broker-dealers and clearing organizations 3,490,000 — 3,490,000 3,490,000 Forgivable loans receivable 1,834,000 — 1,834,000 1,834,000 Other Receivables, Net 5,672,000 — 5,672,000 5,672,000 $ 41,875,000 $ 30,879,000 $ 10,996,000 $ 41,875,000 Liabilities Accrued commissions and payroll payable 18,590,000 — 18,590,000 18,590,000 Accounts payable and accrued expenses 8,643,000 — 8,643,000 8,643,000 $ 27,233,000 $ — $ 27,233,000 $ 27,233,000 The following tables present the financial assets and liabilities measured at fair value on a recurring basis at September 30, 2020 2019 September 30, 2020 Assets Carrying Value Level 1 Level 2 Level 3 Total Estimated Fair Value Securities owned Corporate stocks $ 137,000 $ 137,000 $ — $ — $ 137,000 Municipal bonds 332,000 332,000 — — 332,000 Restricted stock 529,000 — 529,000 — 529,000 Corporate Bonds 438,000 — 438,000 — 438,000 Warrants 3,303,000 — 2,228,000 1,075,000 3,303,000 $ 4,739,000 $ 469,000 $ 3,195,000 $ 1,075,000 $ 4,739,000 Liabilities Contingent consideration 10,401,000 — — 10,401,000 10,401,000 $ 10,401,000 $ — $ — $ 10,401,000 $ 10,401,000 September 30, 2019 Assets Carrying Value Level 1 Level 2 Level 3 Total Estimated Fair Value Securities owned Corporate stocks $ 6,282,000 $ 6,282,000 $ — $ — $ 6,282,000 Municipal bonds 20,000 20,000 — — 20,000 Restricted stock 725,000 — 725,000 — 725,000 Warrants 5,454,000 — 1,529,000 3,925,000 5,454,000 $ 12,481,000 $ 6,302,000 $ 2,254,000 $ 3,925,000 $ 12,481,000 Liabilities Contingent consideration 1,620,000 — — 1,620,000 1,620,000 $ 1,620,000 $ — $ — $ 1,620,000 $ 1,620,000 Changes in Level 3 September 30, 2020 Beginning Balance as of September 30, 2019 Net Realized Gain or (losses) Net Change in Unrealized Appreciation (Depreciation) Purchases Sales Transfer into Level 3 (a) Transfer Out of Level 3 (b) Ending Balance as of September 30, 2020 Assets Warrants $ 3,925,000 $ — $ (2,401,000 ) $ — $ — $ 75,000 $ (524,000 ) $ 1,075,000 (a) The Company received warrants as part of investment banking transactions. (b) Transfer out consist of a transfer to Level 2 Changes in Level 3 September 30, 2019 Beginning Balance as of September 30, 2018 Net realized Gain or (losses) Net Change in Unrealized Appreciation (Depreciation) Purchases Sales Transfer into Level 3 (a) Transfer Out of Level 3 (b) Ending Balance as of September 30, 2019 Assets Warrants $ 3,279,000 $ — $ (73,000 ) $ — $ — $ 883,000 $ (164,000 ) $ 3,925,000 (a) The Company received warrants as part of investment banking transactions. (b) Transfer out consist of a transfer to Level 2 See changes in Level 3 September 30, 2020 2019 4. The table below presents information on the valuation techniques, significant unobservable inputs and their ranges for our financial assets measured at fair value on a recurring basis with a significant Level 3 September 30, 2020 Financial Instruments Owned Fair Value Valuation Technique Significant Unobservable Input(s) Input/Range Warrants $ 1,075,000 Market Approach Discount for lack of marketability 25% 46% Volatility 65% 122% The table below presents information on the valuation techniques, significant unobservable inputs and their ranges for our financial assets measured at fair value on a recurring basis with a significant Level 3 September 30, 2019 Financial Instruments Owned Fair Value Valuation Technique Significant Unobservable Input(s) Input/Range Warrants $ 3,925,000 Market Approach Discount for lack of marketability 21% 44% Volatility 55% 120% Certain positions in common stock and warrants were received as compensation for investment banking services. Restricted common stock and warrants may 144, 2020 2019 $( 2,895,000 $( 2,820,000 Warrants are carried at fair value as determined by using the Black-Scholes option pricing model. This model takes into account the underlying securities current market values, the underlying securities market volatility, the terms of the warrants, exercise prices, and risk-free return rate. The market value of the underlying securities' market value is discounted based on the value of a protective put. Debt securities are valued based on recently executed transactions.

Note 10 - Fixed Assets

Note 10 - Fixed Assets	12 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	NOTE 10. Fixed assets as of September 30, 2020 2019 September 30, Estimated Useful 2020 2019 Lives (in years) Equipment $ 1,989,000 $ 1,835,000 3 - 7 years Furniture and fixtures 892,000 761,000 5 years Construction in Process 21,000 — N/A Leasehold improvements 3,677,000 3,662,000 Lesser of useful life or term of lease Capital leases (primarily composed of computer equipment) 907,000 907,000 3 - 7 years 7,486,000 7,165,000 Less accumulated depreciation and amortization (3,104,000 ) (2,098,000 ) Fixed assets - net $ 4,382,000 $ 5,067,000 Depreciation expense for the years ended September 30, 2020 2019 $1,006,000 $728,000

Note 11 - Accounts Payable and

Note 11 - Accounts Payable and Other Accrued Expenses	12 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	NOTE 11. Accounts payable and other accrued expenses as of September 30, 2020 2019 September 30, 2020 2019 Legal $ 1,068,000 $ 900,000 Audit 318,000 239,000 Telecommunications 74,000 125,000 Data Services 467,000 296,000 Regulatory 2,176,000 292,000 Settlements 920,000 1,817,000 Deferred rent — 772,000 Other 4,633,000 4,202,000 Total $ 9,656,000 $ 8,643,000 At September 30, 2020 $151,000 $1,291,000 $130,000 $312,000 $493,000 September 30, 2019 $319,000 $1,188,000 $119,000 $595,000 $380,000 not $396,000 $228,000 In January 2019, 36 $650,000.

Note 12 - Income Taxes

Note 12 - Income Taxes	12 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE 12. The Company files a consolidated federal income tax return and certain combined state and local income tax returns with its subsidiaries. Income taxes consist of the following: 2020 Federal State Total Current income tax expense $ 275,000 $ 765,000 $ 1,040,000 Deferred income tax benefit (2,172,000 ) (733,000 ) (2,905,000 ) Total income tax expense $ (1,897,000 ) $ 32,000 $ (1,865,000 ) 2019 Federal State Total Current income tax expense $ 424,000 $ 263,000 $ 687,000 Deferred income tax expense (benefit) (145,000 ) (223,000 ) (368,000 ) Total income tax expense $ 279,000 $ 40,000 $ 319,000 The income tax provision related to pre-tax income (loss) vary from the federal statutory rate as follows: Years Ended September 30, 2020 2019 Statutory federal rate 21.0 % (21.0 )% State income taxes, net of federal income tax expense (benefit) 5.6 % 1.8 % Permanent differences for tax purposes (2.8 )% 9.2 % Change in rate (1.0 )% 9.7 % Write-off of deferred tax asset attributable to change in ownership (see below) — % 67.7 % Other 1.1 % (3.6 )% 23.9 % 63.8 % Significant components of the Company's net deferred tax assets in the accompanying financial statements are as follows: September 30, 2020 2019 Deferred tax assets (liabilities): Net operating loss carryforwards $ 2,672,000 $ 2,967,000 Operating lease liabilities 4,699,000 — Contingent consideration 1,185,000 441,000 Stock based compensation 1,744,000 1,481,000 Accrued expenses 575,000 1,499,000 Accounts receivable and other receivables 147,000 91,000 Federal AMT credit carryforward — 260,000 Expenses associated with forgiveness of PPP loans 1,834,000 — Fixed assets (1,073,000 ) (510,000 ) Intangibles (2,390,000 ) (448,000 ) Right-of-use assets (4,137,000 ) — Securities (461,000 ) (1,221,000 ) Total deferred tax asset, net $ 4,795,000 $ 4,560,000 At September 30, 2020 $11.9 $4.6 $7.3 may 2021 2039. Due to the change in ownership discussed in Note 19, 382 2019 $339,000.

Note 13 - Commitments and Conti

Note 13 - Commitments and Contingencies	12 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE 13. Litigation and Regulatory Matters The Company and its subsidiaries are defendants or respondents in various pending and threatened arbitrations, administrative proceedings and lawsuits seeking compensatory damages. Several cases have no no On July 3, 2019, 1–10, Kay Johnson v. National Securities Corporation, et al., Case No. 1:19 06197 three five February 2, 2020, March 18, 2020, April 15, 2020, May 6, 2020. Liabilities for potential losses from complaints, legal actions, government investigations and proceedings are established where management believes that it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. In making these decisions, management bases its judgments on its knowledge of the situations, consultations with legal counsel and its historical experience in resolving similar matters. In many lawsuits, arbitrations and regulatory proceedings, it is not In accordance with applicable accounting standards, the Company establishes an accrued liability for contingent litigation and regulatory matters when those matters present loss contingencies that are both probable and can be reasonably estimated. In such cases, there still may not not In making these decisions, management bases its judgments on its knowledge of the situations, consultations with legal counsel and its historical experience in resolving similar matters. In many lawsuits, arbitrations and regulatory proceedings, it is not Because of the broad differences in value ascribed to each case by each plaintiff and the Company, management cannot estimate the possible loss or range of loss, if any, in excess of any amounts reasonably estimated and accrued. As of September 30, 2020 2019 $920,000 $1,817,000 2020 2019 $682,000 $3,008,000 $2,623,000 $2,052,000 2020 2019 Other Commitments As of September 30, 2020 2019 one

Note 14 - Stockholders' Equity

Note 14 - Stockholders' Equity	12 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	NOTE 14. Share Repurchase In August 2015, $2 may not September 30, 2020 2019 not Restricted Stock Units A summary of the Company's non-vested restricted stock units for the years ended September 30, 2020 2019 Shares Weighted Average Grant Due Fair Value Non-vested restricted stock units at September 30, 2018 2,207,242 7,302,000 Granted 1,810,017 5,400,000 Vested (563,711 ) (2,261,000 ) Forfeited (134,908 ) (435,000 ) Non-Vested restricted stock units at September 30, 2019 3,318,640 10,006,000 Granted 904,616 2,188,000 Vested (663,736 ) (2,357,000 ) Forfeited (61,205 ) (142,000 ) Non-vested restricted stock units at September 30, 2020 3,498,315 9,695,000 In November 2018, 1,447,292 November 2018 $4,289,000. In February 2019, 265,960 February 2019 $843,000. In April 2019, 58,277 April 2019 $173,000. In July 2019, 17,925 July 2019 $48,000. In August 2019, 20,563 August 2019 $47,000 In December 2019, 702,000 December 2019 $1,839,000. In January 2020, 39,216 January 2020 $99,000. In April 2020, 163,400 April 2020 $250,000. One RSU and RSA gives the right to one For the years ended September 30, 2020 2019 3,108,000 4,282,000 September 30, 2020 $4,106,000, 2.5 Stock Options The Company's stock option plans provide for the granting of stock options to certain key employees, directors and investment executives. Generally, options outstanding under the Company's stock option plan are granted at prices equal to or above the market value of the stock on the date of grant, vest either immediately or ratably over up to five five The following option activity occurred under the Company's plan during the years ended September 30, 2020 2019 Weighted Weighted Weighted Average Average Average Exercise Grant-Date Remaining Aggregate Price Fair Value Contractual Intrinsic Options Per Share Per Share Term Value Outstanding at September 30, 2018 612,000 $ 6.23 $ 1.59 3.27 Forfeited or expired (7,800 ) 5.54 2.69 Outstanding at September 30, 2019 604,200 6.19 1.58 2.29 Forfeited or expired (335,000 ) 6.97 1.08 Outstanding at September 30, 2020 269,200 5.22 2.19 2.83 Vested and exercisable at September 30, 2020 269,200 $ 5.22 $ 2.19 2.83 $ — There was no 2020 2019. Warrants The following tables summarize information about warrant activity during 2020 2019 Weighted Weighted Average Average Exercise Remaining Price Contractual Warrants Per Share Term Outstanding at September 30, 2018 12,436,427 3.25 3.30 Exercised (38 ) 3.25 Forfeited or expired (7,037,482 ) (a) 3.25 Outstanding at September 30, 2019 5,398,907 3.25 2.30 Exercised — — Forfeited or expired — — Outstanding and exercisable at September 30, 2020 5,398,907 $ 3.25 1.30 (a) 7,037,482 19.

Note 15 - Net Capital Requireme

Note 15 - Net Capital Requirements of Broker Dealer Subsidiary	12 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Regulatory Capital Requirements under Banking Regulations [Text Block]	NOTE 15. OF BROKER DEALER SUBSIDIARY NSC is subject to the SEC's Uniform Net Capital Rule (Rule 15c3 1 September 30, 2020 $3,812,891 $2,812,891 $1,000,000. 15c3 3 WEC is also subject to the Net Capital Rule, which, among other things, requires the maintenance of minimum net capital and requires that the ratio of aggregate indebtedness to net capital, both as defined under the Net Capital Rule, shall not 15 1. September 30, 2020 $467,947 $305,992 $161,955 5.2 1. 15c3 3 FSIC is also subject to the Net Capital Rule, which, among other things, requires the maintenance of minimum net capital and requires that the ratio of aggregate indebtedness to net capital, both as defined under the Net Capital Rule, shall not 15 1. September 30, 2020 $117,538 $112,538 $5,000. 0.2 1. 15c3 3 Advances, dividend payments and other equity withdrawals from NSC, WEC and FSIC are restricted by the regulations of the SEC, and other regulatory agencies. These regulatory restrictions may may

Note 16 - Off Balance Sheet Ris

Note 16 - Off Balance Sheet Risk and Concentrations of Credit Risk	12 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	NOTE 16. The Company is engaged in trading and providing a broad range of securities brokerage and investment services to a diverse group of retail and institutional clientele, as well as corporate finance and investment banking services to corporations and businesses. Counterparties to the Company's business activities include broker-dealers and clearing organizations, banks and other financial institutions. The Company uses clearing brokers to process transactions and maintain customer accounts for the Company on a fee basis. The Company permits the clearing firms to extend credit to its clientele secured by cash and securities in the client's account. The Company's exposure to credit risk associated with the non-performance by its customers and counterparties in fulfilling their contractual obligations can be directly impacted by volatile or illiquid trading markets, which may It is the Company's policy to review, as necessary, the credit standing of its customers and counterparties. Amounts due from customers that are considered uncollectible by the clearing broker are charged back to the Company by the clearing broker when such amounts become determinable. Upon notification of a charge back, such amounts, in total or in part, are then either (i) collected from the customers, (ii) charged to the broker initiating the transaction and/or (iii) charged to operations, based on the particular facts and circumstances. The Company maintains cash in bank deposits, which, at times, may not not A short sale involves the sale of a security that is not To the extent the Company invests in marketable securities, the Company is subject to various market risks related to the portfolio. As a result of the spread of COVID- 19, 19 19 may

Note 17 - Employee Benefits

Note 17 - Employee Benefits	12 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Retirement Benefits [Text Block]	NOTE 17. The Company sponsors a defined contribution 401 75% September 30, 2020 2019 $220,000 $146,000,

Note 18 - Segment Information

Note 18 - Segment Information	12 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	NOTE 18. The Company has two Corporate pre-tax income (loss) consists of certain expenses that have not Segment information for the years ended September 30, 2020 2019 Brokerage and Advisory Tax and Accounting 2020 Services Services Corporate Total Revenues $ 219,724,000 $ 10,149,000 $ 2,000 $ 229,875,000 Pre-tax income (loss) (2,230,000 ) (101,000 ) (5,748,000 ) (a) (8,079,000 ) Identifiable assets 81,590,000 9,159,000 16,488,000 (b) 107,237,000 Depreciation and amortization 1,451,000 716,000 687,000 2,854,000 Interest 90,000 — — 90,000 Capital expenditures (45,000 ) 141,000 145,000 241,000 Brokerage and Advisory Tax and Accounting 2019 Services Services Corporate Total Revenues $ 204,134,000 $ 8,807,000 $ — $ 212,941,000 Pre-tax income (loss) 7,522,000 85,000 (5,447,000 ) (a) 2,160,000 Identifiable assets 61,880,000 4,313,000 15,014,000 (b) 81,207,000 Depreciation and amortization 841,000 490,000 501,000 1,832,000 Interest 32,000 32,000 Capital expenditures 776,000 75,000 2,273,000 3,124,000 (a) Consists of board of director fees and other expenses not (b) Consists principally of deferred tax assets, cash, prepaid and fixed asset balances held at Corporate.

Note 19 - Acquisition of Contro

Note 19 - Acquisition of Controlling Interests in the Company	12 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Mergers, Acquisitions and Dispositions Disclosures [Text Block]	NOTE 19. On November 14, 2018, December 31, 2021. B. Riley Proposal On April 30, 2020, 13D

Note 20 - Revenues from Contrac

Note 20 - Revenues from Contracts and Significant Customers	12 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	NOTE 20. Performance Obligations The Company recognizes revenue from contracts with customers when, or as, the Company satisfies its performance obligations by transferring the promised goods or services to the customers. A good or service is transferred to a customer when, or as, the customer obtains control of that good or service. A performance obligation may Transaction Price and Variable Consideration The amount of revenue recognized reflects the consideration (“transaction price”) the Company expects to be entitled to in exchange for the transfer of the goods or services to the customer services. In determining the transaction price, the Company considers multiple factors, including the effects of variable consideration. Variable consideration is included in the transaction price only to the extent it is probable that a significant reversal in the amount of cumulative revenue recognized will not third Contract Assets Contract assets represent the Company's right to consideration in exchange for goods or services that the Company has transferred to a customer, excluding unconditional rights to consideration that are presented as receivables. Contract Liabilities Contract liabilities represent the Company's obligation to deliver products or provide data to customers in the future for which cash has already been received. The following provides detailed information on the recognition of the Company's revenues from contracts with customers: Commissions and Transaction Fees and Clearing Services . not not Investment Banking . first not The Company's revenues from advisory services primarily consist of fees generated in connection with mergers and acquisition and advisory transactions. Advisory fees from mergers and acquisitions engagements are recognized at a point in time when the related transaction is completed, as the performance obligation is to successfully execute a specific transaction. Fees received prior to the completion of the transaction are deferred within other liabilities in the consolidated statements of financial condition. A significant portion of the fees the Company receives for advisory services are considered variable as they are contingent upon a future event and are excluded from the transaction price until the uncertainty associated with the variable consideration is subsequently resolved, which is expected to occur upon achievement of the specified milestone. Payment for advisory services is generally due promptly upon completion of a specified milestone or, for retainer fees, periodically over the course of the engagement. The Company recognizes a receivable between the date of completion of the milestone and payment by the customer. Expenses associated with investment banking advisory engagements are deferred only to the extent they are explicitly reimbursable by the client and the related revenue is recognized at a point in time. All other investment banking advisory related costs are expensed as incurred. All investment banking advisory expenses are recognized within their respective expense category on the consolidated statements of operations and any expenses reimbursed by the clients are recognized as investment banking revenues. The Company controls the service as it is transferred to the customer, and is therefore acting as a principal. Accordingly, the Company records revenues and out-of-pocket reimbursements on a gross basis. Under accounting standards in effect for prior periods, the Company recorded expenses net of client reimbursements and/or netted against revenues. Investment Advisory/Asset Management Fees . not Tax Preparation and Accounting. Disaggregation of Revenue The following presents the Company's revenues from contracts with customers disaggregated by major business activity and segment for the twelve September 30, 2020 For the Twelve Months Ended Brokerage and Advisory Tax and Accounting September 30, 2020 Services Services Corporate Total Revenues from customer contracts: Commissions and transfer fees and clearing services $ 126,855,000 $ — $ — $ 126,855,000 Investment banking 51,280,000 — — 51,280,000 Investment advisory 35,676,000 — — 35,676,000 Tax preparation and accounting — 10,148,000 — 10,148,000 Sub-total revenue from contracts with customers 213,811,000 10,148,000 — 223,959,000 Other revenue 5,913,000 1,000 2,000 5,916,000 Total revenue $ 219,724,000 $ 10,149,000 $ 2,000 $ 229,875,000 For the Twelve Months Ended Brokerage and Advisory Tax and Accounting September 30, 2019 Services Services Corporate Total Revenues from customer contracts: Commissions and transfer fees and clearing services $ 95,021,000 $ — $ — $ 95,021,000 Investment banking 69,656,000 — — 69,656,000 Investment advisory 34,400,000 — — 34,400,000 Tax preparation and accounting — 8,807,000 — 8,807,000 Sub-total revenue from contracts with customers 199,077,000 8,807,000 — 207,884,000 Other revenue 5,057,000 — — 5,057,000 Total revenue $ 204,134,000 $ 8,807,000 $ — $ 212,941,000 Information on Remaining Performance Obligations and Revenue Recognized from Past Performance The Company does not one one not September 30, 2020 not September 30, 2020 Contract Balances The timing of the Company's revenue recognition may Contract Costs Incremental contract costs are expensed when incurred when the amortization period of the asset that would have been recognized is one

Note 21 - Leases

Note 21 - Leases	12 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	NOTE 21. LEASES The Company's lease agreements primarily cover office space in various states expiring at various dates. The Company's leases are predominantly operating leases, which are included in right-of-use assets and operating lease liabilities on the Company's consolidated statements of financial condition. The Company's current lease arrangements expire from 2020 2032, not not The Company's lease population does not none not For leases with terms greater than 12 842 not not 842 12 not not In October 2018, 24 7 5.6 October 2020. The components of lease expense were as follows: Year Ended September 30, 2020 Operating lease cost: $ 5,258,000 Finance lease cost: Amortization of finance lease assets $ 77,000 Interest on finance lease liabilities 10,000 Total finance lease cost $ 87,000 Sublease income: $ 345,000 The table below summarizes the Company's scheduled future minimum lease payments under operating and finance leases, recorded on the consolidated statements of financial condition as of September 30, 2020 Fiscal Year Ending September 30, Operating Leases Finance Lease 2021 $ 4,385,000 $ 51,000 2022 2,746,000 — 2023 2,588,000 — 2024 2,400,000 — 2025 2,258,000 — Thereafter 6,071,000 — Total minimum lease payments 20,448,000 $ 51,000 Less: Amounts representing interest not yet incurred 3,729,000 — Present value of lease obligations $ 16,719,000 $ 51,000 The following table presents the balances for operating and finance right-of-use assets and lease liabilities: Leases Classification September 30, 2020 Assets Operating lease assets Right-of-use assets $ 14,721,000 Finance lease assets Fixed assets 336,000 Total lease assets $ 15,057,000 Liabilities Operating lease liabilities Operating lease liabilities $ 16,719,000 Finance lease liabilities Other liabilities 51,000 Total lease liabilities $ 16,770,000 The table below presents additional information related to the Company's leases as of September 30, 2020 For the Year Ended September 30, 2020 Supplemental cash flow information and non-cash activity: Cash paid for amounts related to lease liabilities Operating cash flows from finance leases (interest) $ 10,000 Operating cash flows from operating leases (lease payments reflected in the change in accounts payable, accrued expenses and other liabilities in the statement of cash flows) $ 4,006,000 Financing cash flows from finance leases (principal payments) $ 236,000 Operating lease assets obtained in exchange for lease liabilities $ 1,574,000 Weighted Average Remaining Lease Term: Operating Leases (in years) 7.28 Weighted Average Discount Rate: Operating Leases 5.5 %

Note 22 - Paycheck Protection P

Note 22 - Paycheck Protection Program	12 Months Ended
	Sep. 30, 2020
Paycheck Protection Program CARES Act [Member]
Notes to Financial Statements
Unusual or Infrequent Items, or Both, Disclosure [Text Block]	NOTE 22 . PAYCHECK PROTECTION PROGRAM On April 10, 2020, $5,523,738. April 15, 2020, $973,062. The interest rate on each PPP Note is a fixed rate of 1% 360 first first first two 2 April 13, 2022 April 16, 2022 According to the terms of the PPP, all or a portion of loans under the PPP may 60% At its option, each of NSC and WEC may Each PPP Note includes events of default, the occurrence and continuation of which would provide the Lender with the right to exercise remedies against NSC or WEC, as applicable, including the right to declare the entire unpaid principal balance under the applicable PPP Note and all accrued unpaid interest immediately due.

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The financial statements are presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).
Consolidation, Policy [Policy Text Block]	Principals of Consolidation The consolidated financial statements include the accounts of National and its wholly owned and majority owned subsidiaries. All significant inter-company accounts and transactions have been eliminated in consolidation.
Consolidation, Subsidiaries or Other Investments, Consolidated Entities, Policy [Policy Text Block]	Non-controlling Interest NAM has a majority voting interest in Innovation X X” X, X
Consolidation, Variable Interest Entity, Policy [Policy Text Block]	Variable Interest Entities The Company has entered into agreements to provide investment banking and advisory services to numerous investment funds (the “Funds”) that are considered variable interest entities (“VIEs”) under the accounting guidance. These Funds are established primarily to make and manage investments in equity or convertible debt securities of privately held companies that the Company, as investment advisory to the Funds, believes possess innovative or disruptive technologies and present opportunities for an initial public offering (“IPO”) or another similar liquidity event within approximately one five six The Company earns fees from the Funds in the form of placement agent fees and carried interest. For placement agent fees, the Company receives a cash fee of generally 7% 10% 8% 15% one hundred 100% not not Placement agent fees attributable to such arrangements were $21,404,000 2020 $34,184,000 2019 Carried interest is recognized and recorded at the time of distribution and all contingencies are resolved. For the year ended September 30, 2020 no September 30, 2019 $15,872,000 $5,403,000 $10,469,000 September 30, 2019 $2,389,000 Unrecognized Carried Interest (Unaudited) Based on the investment performance of the Funds as of September 30, 2020 $8,086,000 $5,651,000. December 24, 2020, $49,776,000 $34,412,000,
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of these financial statements in conformity with accounting principles generally accepted in the Unites States of America (“US GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could significantly differ from those estimates.
Revenue from Contract with Customer [Policy Text Block]	Revenue Recognition Commission revenue represents commissions generated by the Company's registered representatives for their clients' purchases and sales of mutual funds, variable annuities, general securities and other financial products, most of which is paid to the registered representatives as commissions for initiating the transactions. Commission revenue is generated from front-end sales commissions that occur at the point of sale, as well as trailing commissions. The Company recognizes front-end sales commission revenue and related clearing and other expenses on transactions introduced to its clearing brokers on a trade date basis. The Company also recognizes front-end sales commissions and related expenses on transactions initiated directly between the registered representatives and product sponsors upon receipt of notification from sponsors of the commission earned. Commission revenue also includes 12b 1 Net dealer inventory gains, which are recorded on a trade-date basis, include realized and unrealized net gains and losses resulting from the Company's principal trading activities including equity-linked warrants received from investment banking activities. Investment banking revenues consist of underwriting revenues, advisory revenues and private placement fees. Underwriting revenues arise from securities offerings in which the Company acts as an underwriter and include management fees, selling concessions and underwriting fees. Management estimates the Company's share of the transaction-related expenses incurred by the syndicate. On final settlement, typically within 90 Investment advisory fees are derived from account management and investment advisory services. These fees are determined based on a percentage of the customers assets under management, may Interest is recorded on an accrual basis and dividends are recorded on the ex-dividend date. Transfer fees and fees for clearing services are recorded on a trade date basis. Tax preparation and accounting fees are recognized upon completion of the services. See Note 20
Income Tax, Policy [Policy Text Block]	Income Taxes The Company accounts for income taxes in accordance with US GAAP which requires the recognition of tax benefits or expenses based on the estimated future tax effects of temporary differences between the financial statement and tax basis of its assets and liabilities. The effect on deferred taxes of a change in tax rates is recognized as income or loss in the period that includes the enactment date. Valuation allowances are established to reduce deferred tax assets to an amount that is more likely than not FASB ASC 740 not not 50% September 30, 2020 2019 no
Marketable Securities, Policy [Policy Text Block]	Securities Securities owned and securities sold, but not 9
Property, Plant and Equipment, Policy [Policy Text Block]	Fixed Assets, net Fixed assets are recorded at cost net of accumulated depreciation and amortization. Depreciation is calculated using the straight-line method based on the estimated useful lives of the related assets (See Note 10 Fixed assets are reviewed for impairment whenever indicators of impairment exist. In such circumstances, the Company will estimate the future cash flows expected to result from the use of the asset and its eventual disposition. Future cash flows are the future cash inflows expected to be generated by an asset less the future outflows expected to be necessary to obtain those inflows. If the sum of the expected future cash flows (undiscounted and without interest charges) is less than the carrying amount of the asset, the Company will recognize an impairment loss to adjust to the fair value of the asset.
Earnings Per Share, Policy [Policy Text Block]	Net Income per Common Share Basic net income per share is computed on the basis of the weighted average number of common shares outstanding. Diluted net income per share is computed on the basis of the weighted average number of common shares outstanding plus the dilutive effect of incremental shares of common stock potentially issuable under outstanding options, warrants and unvested restricted stock units utilizing the treasury stock method. A reconciliation of basic and diluted common shares used in the computation of per share data follows: Year Ended September 30, 2020 2019 Basic weighted-average shares 13,414,009 12,821,581 Effect of dilutive securities: Options — — Unvested restricted stock units — — Diluted weighted-average shares 13,414,009 12,821,581 At September 30, 2020 2019 9,166,422 9,321,747
Share-based Payment Arrangement [Policy Text Block]	Stock-based Compensation The Company measures the cost of employee, officer and director services received in exchange for an award of equity instruments including stock options and restricted stock units, based on the grant-date fair value of the award and measures the cost of independent contractor awards based on the vesting date fair value of the award. The cost is recognized as compensation expense over the service period, which would normally be the vesting period of the award.
Deferred Clearing and Marketing Credit [Policy Text Block]	Deferred Clearing and Marketing Credits The deferred clearing credit represents a clearing fee rebate from National Financial Services (“NFS”), one 2021. 2020 2019 $143,000 two September 30, 2020 2019 $107,000 $250,000 The deferred marketing credit represents a marketing rebate from NFS, which is being recognized pro rata as a reduction of marketing expenses over the term of the clearing agreement which expires in 2021. 2020 2019 $67,000 two September 30, 2020 2019 $50,000 $117,000
Reimbursement of Expenses [Policy Text Block]	Reimbursement of Expenses The Company incurs certain costs on behalf of its registered representatives including those for insurance, professional registration, technology and information services and legal services, amongst others, which are charged back to the registered representatives. It is the Company's policy to record the reimbursement as a reduction of the respective operating expense. Total reimbursements in fiscal years 2020 2019 $7,889,000 $7,422,000,
Intangible Assets, Finite-Lived, Policy [Policy Text Block]	Intangible Assets Intangible assets with finite lives, which consist of customer relationships, are being amortized over their estimated useful lives on a straight-line basis. Such intangible assets are tested for recoverability whenever events or changes in circumstances indicate that the carrying amount may not not Brand names are being amortized over their estimated useful lives on a straight-line basis and are tested for impairment annually, or more frequently if events or changes in circumstances indicate that the asset may 6
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]	Goodwill Goodwill is not may 5.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Restricted Cash The Company has defined cash as cash held at financial institutions and highly liquid investments with maturities of less than three not may Restricted cash consists of deposits collateralizing letters of credits in connections with property leases. Cash and restricted cash consist of the following: September 30, 2020 2019 Cash 27,327,000 30,443,000 Restricted cash 962,000 960,000 28,289,000 31,403,000
Receivable [Policy Text Block]	Receivables From Broker Dealers and Clearing organizations Receivables from broker dealers and clearing organizations represent net amounts due for fees and commissions associated with the Company's retail brokerage business.
Financing Receivable [Policy Text Block]	Forgivable Loans Forgivable Loans represent loans to primarily newly recruited independent financial advisors as an incentive for their affiliation. The notes receivable balance is comprised of unsecured non-interest-bearing and interest-bearing loans (interest ranging up to 9%
Reclassification, Comparability Adjustment [Policy Text Block]	Reclassifications Certain items in the statement of operations for 2019 2020. not

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Year Ended September 30, 2020 2019 Basic weighted-average shares 13,414,009 12,821,581 Effect of dilutive securities: Options — — Unvested restricted stock units — — Diluted weighted-average shares 13,414,009 12,821,581
Schedule of Cash and Cash Equivalents [Table Text Block]	September 30, 2020 2019 Cash 27,327,000 30,443,000 Restricted cash 962,000 960,000 28,289,000 31,403,000

Note 4 - Business Combination_2

Note 4 - Business Combination, Contingent Consideration and Disposal of Branches (Tables)	12 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Estimated Fair Value Assets Cash $ 1,111,000 Cash deposits with clearing organizations 207,000 Securities owned at fair value 1,111,000 Receivables from broker dealers and clearing organizations 49,000 Forgivable loans receivable 91,000 Other receivables, net 113,000 Prepaid expenses 432,000 Fixed assets, net 80,000 Intangible assets, net 4,400,000 Operating lease assets 1,823,000 Other assets 12,000 Total assets acquired 9,429,000 Liabilities Securities sold, not yet purchased at fair value 203,000 Accrued commissions and payroll payable 390,000 Accounts payable and accrued expenses 188,000 Operating lease liabilities 1,823,000 Deferred tax liability 1,196,000 Other 215,000 Total liabilities assumed $ 4,015,000 Net identifiable assets acquired $ 5,414,000 Goodwill 2,680,000 Total Purchase price $ 8,094,000 The intangible assets as of the closing date of the acquisition included: Amount Customer relationships 4,100,000 Brand name 300,000 $ 4,400,000 Initial purchase price $ 3,200,000 Additional consideration payable (net operating capital) 873,000 Earnout (contingent consideration) 4,021,000 Total purchase price $ 8,094,000 Estimated Fair Value Assets Cash $ 16,000 Cash deposits with clearing organizations 33,000 Other receivables, net 86,000 Prepaid expenses 12,000 Intangible assets, net 2,025,000 Total assets acquired 2,172,000 Liabilities Accounts payable and accrued expenses 7,000 Deferred tax liability 340,000 Other 86,000 Total liabilities assumed $ 433,000 Net identifiable assets acquired $ 1,739,000 Goodwill 4,803,000 Total Purchase price $ 6,542,000 The intangible assets as of the closing date of the acquisition included: Amount Customer relationships 1,960,000 Brand name 65,000 $ 2,025,000 Initial purchase price $ 2,790,000 Additional consideration payable 210,000 Contingent consideration 3,542,000 Total purchase price $ 6,542,000
Business Acquisition, Pro Forma Information [Table Text Block]	Twelve Months Ended September 30, 2020 2019 Net revenues $ 232,815,000 $ 223,811,000 Net Income (Loss) $ (6,187,000 ) $ 869,000 Net Income (Loss) attributable to common stockholders $ (5,911,000 ) $ (1,791,000 ) Net income (loss) per common share: Basic $ (0.44 ) $ (0.14 ) Diluted $ (0.44 ) $ (0.14 ) Twelve Months Ended September 30, 2020 2019 Net revenues $ 239,336,000 $ 222,948,000 Net Income (Loss) $ (7,960,000 ) $ 2,468,000 Net Income (Loss) attributable to common stockholders $ (7,684,000 ) $ (192,000 ) Net income (loss) per common share: Basic $ (0.57 ) $ (0.01 ) Diluted $ (0.57 ) $ (0.01 )
Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block]	Fair value of contingent consideration at September 30, 2018 744,000 Fair value of contingent consideration in connection with 2019 acquisitions 1,428,000 Payments (617,000 ) Change in fair value 65,000 Fair value of contingent consideration at September 30, 2019 1,620,000 Fair value of contingent consideration in connection with 2020 Tax & Accounting acquisitions 2,177,000 Fair value of contingent consideration in connection with Winslow acquisition 4,021,000 Fair value of contingent consideration in connection with UA acquisition 3,542,000 Payments (730,000 ) Disposition/settlement of contingent consideration (540,000 ) Change in fair value 311,000 Fair value of contingent consideration at September 30, 2020 $ 10,401,000

Note 5 - Goodwill (Tables)

Note 5 - Goodwill (Tables)	12 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Goodwill [Table Text Block]	Brokerage and Advisory Services Tax and Accounting Services Total Balance as of September 30, 2018 $ 4,451,000 $ 702,000 $ 5,153,000 Impairment — — — Balance as of September 30, 2019 $ 4,451,000 $ 702,000 $ 5,153,000 Goodwill related to Winslow acquisition 2,680,000 — 2,680,000 Goodwill related to UA acquisition 4,803,000 — 4,803,000 Reduction related to sale of National Tax branches (164,000 ) (75,000 ) (239,000 ) Impairment (724,000 ) — (724,000 ) Balance as of September 30, 2020 $ 11,046,000 $ 627,000 $ 11,673,000

Note 6 - Intangibles (Tables)

Note 6 - Intangibles (Tables)	12 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Finite-Lived Intangible Assets [Table Text Block]	September 30, 2020 Intangible asset Cost Accumulated Amortization Carrying Value Estimated Useful Life (years) Customer relationships $ 17,467,000 $ 5,988,000 $ 11,479,000 3 10 Brand name 1,075,000 282,000 793,000 1 5 Software license 45,000 41,000 4,000 3 $ 18,587,000 $ 6,311,000 $ 12,276,000 September 30, 2019 Intangible asset Cost Accumulated Amortization Carrying Value Estimated Useful Life (years) Customer relationships $ 9,326,000 $ 4,614,000 $ 4,712,000 3 10 Brand name 710,000 — 710,000 Indefinite Software license 45,000 26,000 19,000 3 $ 10,081,000 $ 4,640,000 $ 5,441,000
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Year ended September 30, 2021 $ 2,276,000 2022 2,154,000 2023 1,586,000 2024 1,242,000 2025 1,130,000 Thereafter 3,888,000 Total $ 12,276,000

Note 7 - Receivables from Bro_2

Note 7 - Receivables from Broker Dealers and Clearing Organizations and Other Receivables (Tables)	12 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	September 30, 2020 2019 Trailing fees 1,391,000 947,000 Accounts receivable for tax and accounting services 1,009,000 686,000 Allowance for doubtful accounts - tax and accounting services (347,000 ) (282,000 ) Advances to registered representatives 1,834,000 1,383,000 Investment banking receivable 2,383,000 411,000 Advisory fees 771,000 483,000 Notes receivable (Note 4) 1,229,000 665,000 Other 4,124,000 1,379,000 Total $ 12,394,000 $ 5,672,000

Note 8 - Forgivable Loans Rec_2

Note 8 - Forgivable Loans Receivable (Tables)	12 Months Ended
	Sep. 30, 2020
Notes Tables
Investments in and Advances to Affiliates [Table Text Block]	Balance, September 30, 2018 $ 1,567,000 Advances 1,052,000 Amortization (680,000 ) Reclassification to other receivables (105,000 ) Balance, September 30, 2019 1,834,000 Advances 3,508,000 Acquired through the Winslow acquisition (see note 4) 91,000 Amortization (894,000 ) Reclassification to other receivables (270,000 ) Balance, September 30, 2020 $ 4,269,000

Note 9 - Fair Value of Assets_2

Note 9 - Fair Value of Assets and Liabilities (Tables)	12 Months Ended
	Sep. 30, 2020
Notes Tables
Fair Value, by Balance Sheet Grouping [Table Text Block]	September 30, 2020 Assets Carrying Value Level 1 Level 2 Total Estimated Fair Value Cash $ 27,327,000 $ 27,327,000 $ — $ 27,327,000 Cash deposits with clearing organizations 686,000 686,000 — 686,000 Receivables from broker-dealers and clearing organizations 3,367,000 — 3,367,000 3,367,000 Forgivable loans receivable 4,269,000 — 4,269,000 4,269,000 Other Receivables, Net 12,394,000 — 12,394,000 12,394,000 $ 48,043,000 $ 28,013,000 $ 20,030,000 $ 48,043,000 Liabilities Accrued commissions and payroll payable 15,445,000 — 15,445,000 15,445,000 Accounts payable and accrued expenses 9,656,000 — 9,656,000 9,656,000 $ 25,101,000 $ — $ 25,101,000 $ 25,101,000 September 30, 2019 Assets Carrying Value Level 1 Level 2 Total Estimated Fair Value Cash $ 30,443,000 $ 30,443,000 $ — $ 30,443,000 Cash deposits with clearing organizations 436,000 436,000 — 436,000 Receivables from broker-dealers and clearing organizations 3,490,000 — 3,490,000 3,490,000 Forgivable loans receivable 1,834,000 — 1,834,000 1,834,000 Other Receivables, Net 5,672,000 — 5,672,000 5,672,000 $ 41,875,000 $ 30,879,000 $ 10,996,000 $ 41,875,000 Liabilities Accrued commissions and payroll payable 18,590,000 — 18,590,000 18,590,000 Accounts payable and accrued expenses 8,643,000 — 8,643,000 8,643,000 $ 27,233,000 $ — $ 27,233,000 $ 27,233,000
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	September 30, 2020 Assets Carrying Value Level 1 Level 2 Level 3 Total Estimated Fair Value Securities owned Corporate stocks $ 137,000 $ 137,000 $ — $ — $ 137,000 Municipal bonds 332,000 332,000 — — 332,000 Restricted stock 529,000 — 529,000 — 529,000 Corporate Bonds 438,000 — 438,000 — 438,000 Warrants 3,303,000 — 2,228,000 1,075,000 3,303,000 $ 4,739,000 $ 469,000 $ 3,195,000 $ 1,075,000 $ 4,739,000 Liabilities Contingent consideration 10,401,000 — — 10,401,000 10,401,000 $ 10,401,000 $ — $ — $ 10,401,000 $ 10,401,000 September 30, 2019 Assets Carrying Value Level 1 Level 2 Level 3 Total Estimated Fair Value Securities owned Corporate stocks $ 6,282,000 $ 6,282,000 $ — $ — $ 6,282,000 Municipal bonds 20,000 20,000 — — 20,000 Restricted stock 725,000 — 725,000 — 725,000 Warrants 5,454,000 — 1,529,000 3,925,000 5,454,000 $ 12,481,000 $ 6,302,000 $ 2,254,000 $ 3,925,000 $ 12,481,000 Liabilities Contingent consideration 1,620,000 — — 1,620,000 1,620,000 $ 1,620,000 $ — $ — $ 1,620,000 $ 1,620,000
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Beginning Balance as of September 30, 2019 Net Realized Gain or (losses) Net Change in Unrealized Appreciation (Depreciation) Purchases Sales Transfer into Level 3 (a) Transfer Out of Level 3 (b) Ending Balance as of September 30, 2020 Assets Warrants $ 3,925,000 $ — $ (2,401,000 ) $ — $ — $ 75,000 $ (524,000 ) $ 1,075,000 Beginning Balance as of September 30, 2018 Net realized Gain or (losses) Net Change in Unrealized Appreciation (Depreciation) Purchases Sales Transfer into Level 3 (a) Transfer Out of Level 3 (b) Ending Balance as of September 30, 2019 Assets Warrants $ 3,279,000 $ — $ (73,000 ) $ — $ — $ 883,000 $ (164,000 ) $ 3,925,000
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]	Financial Instruments Owned Fair Value Valuation Technique Significant Unobservable Input(s) Input/Range Warrants $ 1,075,000 Market Approach Discount for lack of marketability 25% 46% Volatility 65% 122% Financial Instruments Owned Fair Value Valuation Technique Significant Unobservable Input(s) Input/Range Warrants $ 3,925,000 Market Approach Discount for lack of marketability 21% 44% Volatility 55% 120%

Note 10 - Fixed Assets (Tables)

Note 10 - Fixed Assets (Tables)	12 Months Ended
	Sep. 30, 2020
Notes Tables
Property, Plant and Equipment [Table Text Block]	September 30, Estimated Useful 2020 2019 Lives (in years) Equipment $ 1,989,000 $ 1,835,000 3 - 7 years Furniture and fixtures 892,000 761,000 5 years Construction in Process 21,000 — N/A Leasehold improvements 3,677,000 3,662,000 Lesser of useful life or term of lease Capital leases (primarily composed of computer equipment) 907,000 907,000 3 - 7 years 7,486,000 7,165,000 Less accumulated depreciation and amortization (3,104,000 ) (2,098,000 ) Fixed assets - net $ 4,382,000 $ 5,067,000

Note 11 - Accounts Payable an_2

Note 11 - Accounts Payable and Other Accrued Expenses (Tables)	12 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]	September 30, 2020 2019 Legal $ 1,068,000 $ 900,000 Audit 318,000 239,000 Telecommunications 74,000 125,000 Data Services 467,000 296,000 Regulatory 2,176,000 292,000 Settlements 920,000 1,817,000 Deferred rent — 772,000 Other 4,633,000 4,202,000 Total $ 9,656,000 $ 8,643,000

Note 12 - Income Taxes (Tables)

Note 12 - Income Taxes (Tables)	12 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	2020 Federal State Total Current income tax expense $ 275,000 $ 765,000 $ 1,040,000 Deferred income tax benefit (2,172,000 ) (733,000 ) (2,905,000 ) Total income tax expense $ (1,897,000 ) $ 32,000 $ (1,865,000 ) 2019 Federal State Total Current income tax expense $ 424,000 $ 263,000 $ 687,000 Deferred income tax expense (benefit) (145,000 ) (223,000 ) (368,000 ) Total income tax expense $ 279,000 $ 40,000 $ 319,000
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Years Ended September 30, 2020 2019 Statutory federal rate 21.0 % (21.0 )% State income taxes, net of federal income tax expense (benefit) 5.6 % 1.8 % Permanent differences for tax purposes (2.8 )% 9.2 % Change in rate (1.0 )% 9.7 % Write-off of deferred tax asset attributable to change in ownership (see below) — % 67.7 % Other 1.1 % (3.6 )% 23.9 % 63.8 %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	September 30, 2020 2019 Deferred tax assets (liabilities): Net operating loss carryforwards $ 2,672,000 $ 2,967,000 Operating lease liabilities 4,699,000 — Contingent consideration 1,185,000 441,000 Stock based compensation 1,744,000 1,481,000 Accrued expenses 575,000 1,499,000 Accounts receivable and other receivables 147,000 91,000 Federal AMT credit carryforward — 260,000 Expenses associated with forgiveness of PPP loans 1,834,000 — Fixed assets (1,073,000 ) (510,000 ) Intangibles (2,390,000 ) (448,000 ) Right-of-use assets (4,137,000 ) — Securities (461,000 ) (1,221,000 ) Total deferred tax asset, net $ 4,795,000 $ 4,560,000

Note 14 - Stockholders' Equity

Note 14 - Stockholders' Equity (Tables)	12 Months Ended
	Sep. 30, 2020
Notes Tables
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block]	Shares Weighted Average Grant Due Fair Value Non-vested restricted stock units at September 30, 2018 2,207,242 7,302,000 Granted 1,810,017 5,400,000 Vested (563,711 ) (2,261,000 ) Forfeited (134,908 ) (435,000 ) Non-Vested restricted stock units at September 30, 2019 3,318,640 10,006,000 Granted 904,616 2,188,000 Vested (663,736 ) (2,357,000 ) Forfeited (61,205 ) (142,000 ) Non-vested restricted stock units at September 30, 2020 3,498,315 9,695,000
Share-based Payment Arrangement, Option, Activity [Table Text Block]	Weighted Weighted Weighted Average Average Average Exercise Grant-Date Remaining Aggregate Price Fair Value Contractual Intrinsic Options Per Share Per Share Term Value Outstanding at September 30, 2018 612,000 $ 6.23 $ 1.59 3.27 Forfeited or expired (7,800 ) 5.54 2.69 Outstanding at September 30, 2019 604,200 6.19 1.58 2.29 Forfeited or expired (335,000 ) 6.97 1.08 Outstanding at September 30, 2020 269,200 5.22 2.19 2.83 Vested and exercisable at September 30, 2020 269,200 $ 5.22 $ 2.19 2.83 $ —
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	Weighted Weighted Average Average Exercise Remaining Price Contractual Warrants Per Share Term Outstanding at September 30, 2018 12,436,427 3.25 3.30 Exercised (38 ) 3.25 Forfeited or expired (7,037,482 ) (a) 3.25 Outstanding at September 30, 2019 5,398,907 3.25 2.30 Exercised — — Forfeited or expired — — Outstanding and exercisable at September 30, 2020 5,398,907 $ 3.25 1.30

Note 18 - Segment Information (

Note 18 - Segment Information (Tables)	12 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Brokerage and Advisory Tax and Accounting 2020 Services Services Corporate Total Revenues $ 219,724,000 $ 10,149,000 $ 2,000 $ 229,875,000 Pre-tax income (loss) (2,230,000 ) (101,000 ) (5,748,000 ) (a) (8,079,000 ) Identifiable assets 81,590,000 9,159,000 16,488,000 (b) 107,237,000 Depreciation and amortization 1,451,000 716,000 687,000 2,854,000 Interest 90,000 — — 90,000 Capital expenditures (45,000 ) 141,000 145,000 241,000 Brokerage and Advisory Tax and Accounting 2019 Services Services Corporate Total Revenues $ 204,134,000 $ 8,807,000 $ — $ 212,941,000 Pre-tax income (loss) 7,522,000 85,000 (5,447,000 ) (a) 2,160,000 Identifiable assets 61,880,000 4,313,000 15,014,000 (b) 81,207,000 Depreciation and amortization 841,000 490,000 501,000 1,832,000 Interest 32,000 32,000 Capital expenditures 776,000 75,000 2,273,000 3,124,000

Note 20 - Revenues from Contr_2

Note 20 - Revenues from Contracts and Significant Customers (Tables)	12 Months Ended
	Sep. 30, 2020
Notes Tables
Disaggregation of Revenue [Table Text Block]	For the Twelve Months Ended Brokerage and Advisory Tax and Accounting September 30, 2020 Services Services Corporate Total Revenues from customer contracts: Commissions and transfer fees and clearing services $ 126,855,000 $ — $ — $ 126,855,000 Investment banking 51,280,000 — — 51,280,000 Investment advisory 35,676,000 — — 35,676,000 Tax preparation and accounting — 10,148,000 — 10,148,000 Sub-total revenue from contracts with customers 213,811,000 10,148,000 — 223,959,000 Other revenue 5,913,000 1,000 2,000 5,916,000 Total revenue $ 219,724,000 $ 10,149,000 $ 2,000 $ 229,875,000 For the Twelve Months Ended Brokerage and Advisory Tax and Accounting September 30, 2019 Services Services Corporate Total Revenues from customer contracts: Commissions and transfer fees and clearing services $ 95,021,000 $ — $ — $ 95,021,000 Investment banking 69,656,000 — — 69,656,000 Investment advisory 34,400,000 — — 34,400,000 Tax preparation and accounting — 8,807,000 — 8,807,000 Sub-total revenue from contracts with customers 199,077,000 8,807,000 — 207,884,000 Other revenue 5,057,000 — — 5,057,000 Total revenue $ 204,134,000 $ 8,807,000 $ — $ 212,941,000

Note 21 - Leases (Tables)

Note 21 - Leases (Tables)	12 Months Ended
	Sep. 30, 2020
Notes Tables
Lease, Cost [Table Text Block]	Year Ended September 30, 2020 Operating lease cost: $ 5,258,000 Finance lease cost: Amortization of finance lease assets $ 77,000 Interest on finance lease liabilities 10,000 Total finance lease cost $ 87,000 Sublease income: $ 345,000 For the Year Ended September 30, 2020 Supplemental cash flow information and non-cash activity: Cash paid for amounts related to lease liabilities Operating cash flows from finance leases (interest) $ 10,000 Operating cash flows from operating leases (lease payments reflected in the change in accounts payable, accrued expenses and other liabilities in the statement of cash flows) $ 4,006,000 Financing cash flows from finance leases (principal payments) $ 236,000 Operating lease assets obtained in exchange for lease liabilities $ 1,574,000 Weighted Average Remaining Lease Term: Operating Leases (in years) 7.28 Weighted Average Discount Rate: Operating Leases 5.5 %
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Fiscal Year Ending September 30, Operating Leases Finance Lease 2021 $ 4,385,000 $ 51,000 2022 2,746,000 — 2023 2,588,000 — 2024 2,400,000 — 2025 2,258,000 — Thereafter 6,071,000 — Total minimum lease payments 20,448,000 $ 51,000 Less: Amounts representing interest not yet incurred 3,729,000 — Present value of lease obligations $ 16,719,000 $ 51,000
Assets and Liabilities Lessee [Table Text Block]	Leases Classification September 30, 2020 Assets Operating lease assets Right-of-use assets $ 14,721,000 Finance lease assets Fixed assets 336,000 Total lease assets $ 15,057,000 Liabilities Operating lease liabilities Operating lease liabilities $ 16,719,000 Finance lease liabilities Other liabilities 51,000 Total lease liabilities $ 16,770,000

Note 2 - Summary of Significa_3

Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($)	Dec. 24, 2020	Sep. 30, 2020	Sep. 30, 2019
Variable Interest Entity, Distribution Threshold		100.00%
Investment Banking, Advisory, Brokerage, and Underwriting Fees and Commissions, Total		$ 21,404,000	$ 34,184,000
Revenue from Contract with Customer, Excluding Assessed Tax, Total		223,959,000	207,884,000
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss)		(2,895,000)	(2,820,000)
Unrecognized Tax Benefits, Ending Balance		$ 0	$ 0
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)		9,166,422	9,321,747
Deferred Clearing Rebates, Revenue Recognized		$ 143,000	$ 143,000
Deferred Clearing Rebates		107,000	250,000
Deferred Marketing Rebates, Revenue Recognized		67,000
Deferred Marketing Rebates		50,000	117,000
Reimbursement Revenue 1		7,889,000	7,422,000
Banking [Member]
Revenue from Contract with Customer, Excluding Assessed Tax, Total		51,280,000	69,656,000
Investment Advice [Member]
Revenue from Contract with Customer, Excluding Assessed Tax, Total		35,676,000	34,400,000
The Funds [Member]
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss)			(2,389,000)
Unrecognized Carried Interest		8,086,000
Unrecognized Carried Interest, Compensation Expense		5,651,000
The Funds [Member] | Subsequent Event [Member]
Unrecognized Carried Interest	$ 49,776,000
Unrecognized Carried Interest, Compensation Expense	$ 34,412,000
The Funds [Member] | Carried Interest [Member]
Revenue from Contract with Customer, Excluding Assessed Tax, Total		$ 0	15,872,000
The Funds [Member] | Banking [Member]
Revenue from Contract with Customer, Excluding Assessed Tax, Total			5,403,000
The Funds [Member] | Investment Advice [Member]
Revenue from Contract with Customer, Excluding Assessed Tax, Total			$ 10,469,000
Minimum [Member]
Variable Interest Entity, Timing Of Liquidity Event For New Opportunities (Year)		1 year
Variable Interest Entity, Cash Fee Received, Percent		7.00%
Variable Interest Entity, Interest Received, Percent		8.00%
Maximum [Member]
Variable Interest Entity, Timing Of Liquidity Event For New Opportunities (Year)		5 years
Variable Interest Entity, Cash Fee Received, Percent		10.00%
Variable Interest Entity, Interest Received, Percent		15.00%
Financing Receivable, Interest Rate			9.00%

Note 2 - Summary of Significa_4

Note 2 - Summary of Significant Accounting Policies - Reconciliation of Basic and Diluted Shares Used in Computation of Per Share Data (Details) - shares	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Basic weighted-average shares (in shares)	13,414,009	12,821,581
Diluted weighted-average shares (in shares)	13,414,009	12,821,581
Share-based Payment Arrangement, Option [Member]
Effect of dilutive securities (in shares)
Restricted Stock Units (RSUs) [Member]
Effect of dilutive securities (in shares)

Note 2 - Summary of Significa_5

Note 2 - Summary of Significant Accounting Policies - Cash and Restricted Cash (Details) - USD ($)	Sep. 30, 2020	Sep. 30, 2019
Cash	$ 27,327,000	$ 30,443,000
Restricted cash	962,000	960,000
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Ending Balance	$ 28,289,000	$ 31,403,000

Note 3 - New Accounting Guida_2

Note 3 - New Accounting Guidance (Details Textual) - USD ($)	Sep. 30, 2020	Oct. 01, 2019	Sep. 30, 2019
Operating Lease, Right-of-Use Asset	$ 14,721,000
Operating Lease, Liability, Total	$ 16,719,000
Accounting Standards Update 2016-02 [Member]
Operating Lease, Right-of-Use Asset		$ 14,720,000
Operating Lease, Liability, Total		$ 16,309,000

Note 4 - Business Combination_3

Note 4 - Business Combination, Contingent Consideration and Disposal of Branches (Details Textual)	Sep. 11, 2020USD ($)	Dec. 31, 2019USD ($)	Jan. 31, 2020USD ($)	Feb. 28, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)
Payments to Acquire Businesses, Gross						$ 4,945,000	$ 387,000
Business Combination, Contingent Consideration, Liability, Total					$ 10,401,000	10,401,000	1,620,000
Financing Receivable, after Allowance for Credit Loss, Total					1,229,000	1,229,000	$ 665,000
National Tax Branches [Member] | Discontinued Operations, Disposed of by Sale [Member]
Number of Branches Sold			1
Disposal Group, Including Discontinued Operation, Consideration			$ 636,000
Disposal Group, Including Discontinued Operation, Goodwill			239,000
Disposal Group, Including Discontinued Operation, Intangible Assets			100,000
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal			$ 297,000
Financing Receivable, Term (Month)			10 years
Financing Receivable, Weighted Average Interest Rate			3.00%
Certain Assets of a Tax Preparation and Accounting Business [Member]
Payments to Acquire Businesses, Gross				$ 387,000	582,000
Business Combination, Contingent Consideration, Liability, Total				1,428,000	2,177,000	$ 2,177,000
Certain Assets of a Tax Preparation and Accounting Business [Member] | Customer Relationships [Member]
Finite-lived Intangible Assets Acquired				$ 1,815,000	$ 2,759,000
Finite-Lived Intangible Asset, Useful Life (Year)				7 years	7 years
Winslow Targets [Member]
Payments to Acquire Businesses, Gross		$ 3,200,000
Business Combination, Contingent Consideration, Number of Annual Installments		3
Business Combination, Contingent Consideration Arrangements, Range Of Outcomes, Value, High, Net Operating Capital		$ 1,000,000
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, Low, Pre-Tax Net Earnings		1,500,000
Business Combination, Contingent Consideration Arrangements, Range Of Outcomes, Value, High, Pre-Tax Net Earnings		3,000,000
Escrow Deposit		$ 500,000
Winslow Targets [Member] | Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life (Year)		12 years
Winslow Targets [Member] | Brand Name [Member]
Finite-Lived Intangible Asset, Useful Life (Year)		5 years
United Advisor Acquisition [Member]
Payments to Acquire Businesses, Gross	$ 2,790,000
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	$ 4,500,000
United Advisor Acquisition [Member] | Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	12 years

Note 4 - Business Combination_4

Note 4 - Business Combination, Contingent Consideration and Disposal of Branches - Assets Acquired and Liabilities Assumed (Details) - USD ($)	Sep. 11, 2020	Dec. 31, 2019	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018
Deferred tax liability		$ 340,000
Goodwill			$ 11,673,000	$ 5,153,000	$ 5,153,000
Payments to Acquire Businesses, Gross			4,945,000	387,000
Initial purchase price			$ 4,945,000	$ 387,000
Winslow Targets [Member]
Cash		1,111,000
Cash deposits with clearing organizations		207,000
Securities owned at fair value		1,111,000
Receivables from broker dealers and clearing organizations		49,000
Forgivable loans receivable		91,000
Other receivables, net		113,000
Prepaid expenses		432,000
Fixed assets, net		80,000
Intangible assets, net		4,400,000
Operating lease assets		1,823,000
Other assets		12,000
Total assets acquired		9,429,000
Securities sold, not yet purchased at fair value		203,000
Accrued commissions and payroll payable		390,000
Accounts payable and accrued expenses		188,000
Operating lease liabilities		1,823,000
Deferred tax liability		1,196,000
Other		215,000
Total liabilities assumed		4,015,000
Net identifiable assets acquired		5,414,000
Goodwill		2,680,000
Total Purchase price		8,094,000
Intangible assets, net		4,400,000
Payments to Acquire Businesses, Gross		3,200,000
Additional consideration payable (net operating capital)		873,000
Earnout (contingent consideration)		4,021,000
Total purchase price		8,094,000
Initial purchase price		3,200,000
Additional consideration payable		873,000
Total purchase price		8,094,000
Winslow Targets [Member] | Customer Relationships [Member]
Customer relationships		4,100,000
Winslow Targets [Member] | Brand Name [Member]
Customer relationships		300,000
United Advisor Acquisition [Member]
Cash		16,000
Prepaid expenses		12,000
Intangible assets, net		2,025,000
Total assets acquired		2,172,000
Total liabilities assumed		433,000
Net identifiable assets acquired		1,739,000
Goodwill		4,803,000
Total Purchase price		6,542,000
Intangible assets, net		2,025,000
Payments to Acquire Businesses, Gross	$ 2,790,000
Additional consideration payable (net operating capital)	210,000
Earnout (contingent consideration)	3,542,000
Total purchase price	6,542,000
Cash deposits with clearing organizations		33,000
Other receivables, net		86,000
Accounts payable and accrued expenses		7,000
Other		86,000
Initial purchase price	2,790,000
Additional consideration payable	210,000
Total purchase price	$ 6,542,000
United Advisor Acquisition [Member] | Customer Relationships [Member]
Customer relationships		1,960,000
United Advisor Acquisition [Member] | Brand Name [Member]
Customer relationships		$ 65,000

Note 4 - Business Combination_5

Note 4 - Business Combination, Contingent Consideration and Disposal of Branches - Pro Forma Financial Information (Details) - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Winslow Targets [Member]
Net revenues	$ 232,815,000	$ 223,811,000
Net Income (Loss)	(6,187,000)	869,000
Net Income (Loss) attributable to common stockholders	$ (5,911,000)	$ (1,791,000)
Basic (in dollars per share)	$ (0.44)	$ (0.14)
Diluted (in dollars per share)	$ (0.44)	$ (0.14)
United Advisor Acquisition [Member]
Net revenues	$ 239,336,000	$ 222,948,000
Net Income (Loss)	(7,960,000)	2,468,000
Net Income (Loss) attributable to common stockholders	$ (7,684,000)	$ (192,000)
Basic (in dollars per share)	$ (0.57)	$ (0.01)
Diluted (in dollars per share)	$ (0.57)	$ (0.01)

Note 4 - Business Combination_6

Note 4 - Business Combination, Contingent Consideration, and Disposal of Branches - Contingent Consideration (Details) - Contingent Consideration [Member] - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Fair value of contingent consideration	$ 1,620,000	$ 744,000
Fair value of contingent consideration in connection with acquisition		1,428,000
Payments	(730,000)	(617,000)
Change in fair value	311,000	65,000
Disposition/settlement of contingent consideration	(540,000)
Fair value of contingent consideration	10,401,000	$ 1,620,000
Certain Assets of a Tax Preparation and Accounting Business [Member]
Fair value of contingent consideration in connection with acquisition	2,177,000
Winslow Targets [Member]
Fair value of contingent consideration in connection with acquisition	4,021,000
United Advisor Acquisition [Member]
Fair value of contingent consideration in connection with acquisition	$ 3,542,000

Note 5 - Goodwill (Details Text

Note 5 - Goodwill (Details Textual) - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Goodwill, Impairment Loss	$ 724,000	$ 0

Note 5 - Goodwill - Changes to

Note 5 - Goodwill - Changes to Carrying Amount of Goodwill (Details) - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Balance	$ 5,153,000	$ 5,153,000
Impairment	(724,000)	0
Reduction related to sale of National Tax branches	(239,000)
Balance	11,673,000	5,153,000
Winslow Targets [Member]
Goodwill related to acquisition	2,680,000
United Advisor Acquisition [Member]
Goodwill related to acquisition	4,803,000
Brokerage and Advisory Services [Member]
Balance	4,451,000	4,451,000
Impairment	(724,000)
Reduction related to sale of National Tax branches	(164,000)
Balance	11,046,000	4,451,000
Brokerage and Advisory Services [Member] | Winslow Targets [Member]
Goodwill related to acquisition	2,680,000
Brokerage and Advisory Services [Member] | United Advisor Acquisition [Member]
Goodwill related to acquisition	4,803,000
Tax and Accounting Services [Member]
Balance	702,000	702,000
Impairment
Reduction related to sale of National Tax branches	(75,000)
Balance	627,000	$ 702,000
Tax and Accounting Services [Member] | Winslow Targets [Member]
Goodwill related to acquisition
Tax and Accounting Services [Member] | United Advisor Acquisition [Member]
Goodwill related to acquisition

Note 6 - Intangibles (Details T

Note 6 - Intangibles (Details Textual) - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Amortization of Intangible Assets, Total	$ 1,848,000	$ 1,104,000

Note 6 - Intangibles - Intangib

Note 6 - Intangibles - Intangibles (Details) - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Accumulated amortization	$ 6,311,000	$ 4,640,000
Finite-lived intangible assets, carrying value	12,276,000
Intangible assets, cost	18,587,000	10,081,000
Intangible assets, carrying value	12,276,000	5,441,000
Brand Name [Member]
Finite-lived intangible assets, cost	1,075,000
Accumulated amortization	282,000
Finite-lived intangible assets, carrying value	$ 793,000
Brand name		710,000
Minimum [Member] | Brand Name [Member]
Estimated useful life (Year)	1 year
Maximum [Member] | Brand Name [Member]
Estimated useful life (Year)	5 years
Customer Relationships [Member]
Finite-lived intangible assets, cost	$ 17,467,000	9,326,000
Accumulated amortization	5,988,000	4,614,000
Finite-lived intangible assets, carrying value	$ 11,479,000	$ 4,712,000
Customer Relationships [Member] | Minimum [Member]
Estimated useful life (Year)	3 years	3 years
Customer Relationships [Member] | Maximum [Member]
Estimated useful life (Year)	10 years	10 years
Software License Arrangement [Member]
Finite-lived intangible assets, cost	$ 45,000	$ 45,000
Accumulated amortization	41,000	26,000
Finite-lived intangible assets, carrying value	$ 4,000	$ 19,000
Estimated useful life (Year)	3 years	3 years

Note 6 - Intangibles - Estimate

Note 6 - Intangibles - Estimated Future Amortization Expense (Details)	Sep. 30, 2020USD ($)
2021	$ 2,276,000
2022	2,154,000
2023	1,586,000
2024	1,242,000
2025	1,130,000
Thereafter	3,888,000
Total	$ 12,276,000

Note 7 - Receivables from Bro_3

Note 7 - Receivables from Broker Dealers and Clearing Organizations and Other Receivables (Details Textual) - USD ($)	Sep. 30, 2020	Sep. 30, 2019
Receivables from Brokers-Dealers and Clearing Organizations, Total	$ 3,367,000	$ 3,490,000

Note 7 - Receivables from Bro_4

Note 7 - Receivables from Broker Dealers and Clearing Organizations and Other Receivables - Other Receivables (Details) - USD ($)	Sep. 30, 2020	Sep. 30, 2019
Trailing fees	$ 1,391,000	$ 947,000
Accounts receivable for tax and accounting services	1,009,000	686,000
Allowance for doubtful accounts - tax and accounting services	(347,000)	(282,000)
Advances to registered representatives	1,834,000	1,383,000
Investment banking receivable	2,383,000	411,000
Advisory fees	771,000	483,000
Notes receivable (Note 4)	1,229,000	665,000
Other	4,124,000	1,379,000
Total	$ 12,394,000	$ 5,672,000

Note 8 - Forgivable Loans Rec_3

Note 8 - Forgivable Loans Receivable (Details Textual) - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Amortization of Forgivable Loans	$ 894,000	$ 680,000
Loans Receivable [Member]
Financing Receivable, Weighted Average Interest Rate		4.00%
Accounts Receivable, Allowance for Credit Loss, Ending Balance	$ 0	$ 0

Note 8 - Forgivable Loans Rec_4

Note 8 - Forgivable Loans Receivable - Forgivable Loan Activity (Details) - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Balance	$ 1,834,000	$ 1,567,000
Advances	3,508,000	1,052,000
Amortization	(894,000)	(680,000)
Reclassification to other receivables	(270,000)	(105,000)
Acquired through the Winslow acquisition (see note 4)	91,000
Balance	$ 4,269,000	$ 1,834,000

Note 9 - Fair Value of Assets_3

Note 9 - Fair Value of Assets and Liabilities (Details Textual) - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss)	$ (2,895,000)	$ (2,820,000)

Note 9 - Fair Value of Assets_4

Note 9 - Fair Value of Assets and Liabilities - Carrying Values and Estimated Fair Values of Financial Assets and Liabilities (Details) - USD ($)	Sep. 30, 2020		Sep. 30, 2019
Reported Value Measurement [Member]
Receivables from broker-dealers and clearing organizations	$ 3,367,000		$ 3,490,000
Forgivable loans receivable	4,269,000		1,834,000
Other Receivables, Net	12,394,000		5,672,000
Assets, Fair Value Disclosure	48,043,000		41,875,000
Accrued commissions and payroll payable	15,445,000		18,590,000
Accounts payable and accrued expenses	9,656,000	[1]	8,643,000	[2]
Nonfinancial Liabilities Fair Value Disclosure, Total	25,101,000		27,233,000
Estimate of Fair Value Measurement [Member]
Receivables from broker-dealers and clearing organizations	3,367,000		3,490,000
Forgivable loans receivable	4,269,000		1,834,000
Other Receivables, Net	12,394,000		5,672,000
Assets, Fair Value Disclosure	48,043,000		41,875,000
Accrued commissions and payroll payable	15,445,000		18,590,000
Accounts payable and accrued expenses	9,656,000	[1]	8,643,000	[2]
Nonfinancial Liabilities Fair Value Disclosure, Total	25,101,000		27,233,000
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Receivables from broker-dealers and clearing organizations
Forgivable loans receivable
Other Receivables, Net
Assets, Fair Value Disclosure	28,013,000		30,879,000
Accrued commissions and payroll payable
Accounts payable and accrued expenses		[1]		[2]
Nonfinancial Liabilities Fair Value Disclosure, Total
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Receivables from broker-dealers and clearing organizations	3,367,000		3,490,000
Forgivable loans receivable	4,269,000		1,834,000
Other Receivables, Net	12,394,000		5,672,000
Assets, Fair Value Disclosure	20,030,000		10,996,000
Accrued commissions and payroll payable	15,445,000		18,590,000
Accounts payable and accrued expenses	9,656,000	[1]	8,643,000	[2]
Nonfinancial Liabilities Fair Value Disclosure, Total	25,101,000		27,233,000
Cash [Member] | Reported Value Measurement [Member]
Cash and cash equivalents	27,327,000		30,443,000
Cash [Member] | Estimate of Fair Value Measurement [Member]
Cash and cash equivalents	27,327,000		30,443,000
Cash [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalents	27,327,000		30,443,000
Cash [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Cash and cash equivalents
Interest-bearing Deposits [Member] | Reported Value Measurement [Member]
Cash and cash equivalents	686,000		436,000
Interest-bearing Deposits [Member] | Estimate of Fair Value Measurement [Member]
Cash and cash equivalents	686,000		436,000
Interest-bearing Deposits [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalents	686,000		436,000
Interest-bearing Deposits [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Cash and cash equivalents
[1]	Excludes contingent consideration liabilities of $1,620,000.
[2]	Excludes contingent consideration liabilities of $744,000.

Note 9 - Fair Value of Assets_5

Note 9 - Fair Value of Assets and Liabilities - Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($)	Sep. 30, 2020	Sep. 30, 2019
Reported Value Measurement [Member]
Securities owned	$ 4,739,000	$ 12,481,000
Liabilities	10,401,000	1,620,000
Reported Value Measurement [Member] | Contingent Consideration [Member]
Liabilities	10,401,000	1,620,000
Reported Value Measurement [Member] | Equity Securities [Member]
Securities owned	137,000	6,282,000
Reported Value Measurement [Member] | Municipal Bonds [Member]
Securities owned	332,000	20,000
Reported Value Measurement [Member] | Restricted Stock [Member]
Securities owned	529,000	725,000
Reported Value Measurement [Member] | Warrant [Member]
Securities owned	3,303,000	5,454,000
Reported Value Measurement [Member] | Corporate Bond Securities [Member]
Securities owned	438,000
Estimate of Fair Value Measurement [Member]
Securities owned	4,739,000	12,481,000
Liabilities	10,401,000	1,620,000
Estimate of Fair Value Measurement [Member] | Contingent Consideration [Member]
Liabilities	10,401,000	1,620,000
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Securities owned	469,000	6,302,000
Liabilities
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Contingent Consideration [Member]
Liabilities
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Securities owned	3,195,000	2,254,000
Liabilities
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Contingent Consideration [Member]
Liabilities
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Securities owned	1,075,000	3,925,000
Liabilities	10,401,000	1,620,000
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Contingent Consideration [Member]
Liabilities	10,401,000	1,620,000
Estimate of Fair Value Measurement [Member] | Equity Securities [Member]
Securities owned	137,000	6,282,000
Estimate of Fair Value Measurement [Member] | Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Securities owned	137,000	6,282,000
Estimate of Fair Value Measurement [Member] | Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Securities owned
Estimate of Fair Value Measurement [Member] | Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Securities owned
Estimate of Fair Value Measurement [Member] | Municipal Bonds [Member]
Securities owned	332,000	20,000
Estimate of Fair Value Measurement [Member] | Municipal Bonds [Member] | Fair Value, Inputs, Level 1 [Member]
Securities owned	332,000	20,000
Estimate of Fair Value Measurement [Member] | Municipal Bonds [Member] | Fair Value, Inputs, Level 2 [Member]
Securities owned
Estimate of Fair Value Measurement [Member] | Municipal Bonds [Member] | Fair Value, Inputs, Level 3 [Member]
Securities owned
Estimate of Fair Value Measurement [Member] | Restricted Stock [Member]
Securities owned	529,000	725,000
Estimate of Fair Value Measurement [Member] | Restricted Stock [Member] | Fair Value, Inputs, Level 1 [Member]
Securities owned
Estimate of Fair Value Measurement [Member] | Restricted Stock [Member] | Fair Value, Inputs, Level 2 [Member]
Securities owned	529,000	725,000
Estimate of Fair Value Measurement [Member] | Restricted Stock [Member] | Fair Value, Inputs, Level 3 [Member]
Securities owned
Estimate of Fair Value Measurement [Member] | Warrant [Member]
Securities owned	3,303,000	5,454,000
Estimate of Fair Value Measurement [Member] | Warrant [Member] | Fair Value, Inputs, Level 1 [Member]
Securities owned
Estimate of Fair Value Measurement [Member] | Warrant [Member] | Fair Value, Inputs, Level 2 [Member]
Securities owned	2,228,000	1,529,000
Estimate of Fair Value Measurement [Member] | Warrant [Member] | Fair Value, Inputs, Level 3 [Member]
Securities owned	1,075,000	$ 3,925,000
Estimate of Fair Value Measurement [Member] | Corporate Bond Securities [Member]
Securities owned	438,000
Estimate of Fair Value Measurement [Member] | Corporate Bond Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Securities owned
Estimate of Fair Value Measurement [Member] | Corporate Bond Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Securities owned	438,000
Estimate of Fair Value Measurement [Member] | Corporate Bond Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Securities owned

Note 9 - Fair Value of Assets_6

Note 9 - Fair Value of Assets and Liabilities - Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis (Details) - Warrant [Member] - USD ($)	12 Months Ended
	Sep. 30, 2020		Sep. 30, 2019
Balance	$ 3,925,000		$ 3,279,000
Net realized gains or (losses)
Net change in unrealized appreciation (deprediation)	(2,401,000)		(73,000)
Purchases
Sales
Transfer into level 3	75,000	[1]	883,000	[2]
Transfer out of level 3	(524,000)	[3]	(164,000)
Balance	$ 1,075,000		$ 3,925,000
[1]	The Company received warrants as part of investment banking transaction.
[2]	The Company received warrants as part of a transactions.
[3]	Transfer out consist of a transfer to Level 2 of a warrant as the underlying security became a publicly registered security and a warrant exercise.

Note 9 - Fair Value of Assets_7

Note 9 - Fair Value of Assets and Liabilities - Valuation Techniques and Significant Unobservable Inputs for Level 3 Financial Assets (Details)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)
Warrant [Member]
Fair value	$ 1,075,000	$ 3,925,000	$ 3,279,000
Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Measurement Input, Discount for Lack of Marketability [Member] | Minimum [Member]
Input/range	0.25	0.21
Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Measurement Input, Discount for Lack of Marketability [Member] | Maximum [Member]
Input/range	0.46	0.44
Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Measurement Input, Price Volatility [Member] | Minimum [Member]
Input/range	0.65	0.55
Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Measurement Input, Price Volatility [Member] | Maximum [Member]
Input/range	1.22	1.2
Fair Value, Inputs, Level 3 [Member] | Warrant [Member]
Fair value	$ 1,075,000	$ 3,925,000

Note 10 - Fixed Assets (Details

Note 10 - Fixed Assets (Details Textual) - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Depreciation, Total	$ 1,006,000	$ 728,000

Note 10 - Fixed Assets - Fixed

Note 10 - Fixed Assets - Fixed Assets (Details) - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Fixed assets, gross	$ 7,486,000	$ 7,165,000
Less accumulated depreciation and amortization	(3,104,000)	(2,098,000)
Fixed assets - net	4,382,000	5,067,000
Equipment [Member]
Fixed assets, gross	$ 1,989,000	1,835,000
Equipment [Member] | Minimum [Member]
Estimated useful lives (Year)	3 years
Equipment [Member] | Maximum [Member]
Estimated useful lives (Year)	7 years
Furniture and Fixtures [Member]
Fixed assets, gross	$ 892,000	761,000
Estimated useful lives (Year)	5 years
Construction in Progress [Member]
Fixed assets, gross	$ 21,000
Leasehold Improvements [Member]
Fixed assets, gross	3,677,000	3,662,000
Finance Leases [Member]
Fixed assets, gross	$ 907,000	$ 907,000
Finance Leases [Member] | Minimum [Member]
Estimated useful lives (Year)	3 years
Finance Leases [Member] | Maximum [Member]
Estimated useful lives (Year)	7 years

Note 11 - Accounts Payable an_3

Note 11 - Accounts Payable and Other Accrued Expenses (Details Textual) - USD ($)	1 Months Ended
	Jan. 31, 2019	Sep. 30, 2020	Sep. 30, 2019
Broker-Dealer, Payable to Other Broker-Dealer and Clearing Organization, Total		$ 151,000	$ 319,000
Accrued Exchange Fee Rebate		1,291,000	1,188,000
Accrued Professional Fees		130,000	119,000
Accrued Financial Obligation		312,000	595,000
Accrued Fixed Assets Payable		$ 493,000	380,000
Accrued Rent, Other			396,000
Accrued Clearing Fees			$ 228,000
System Implementation [Member]
Accrued Financial Obligation	$ 650,000
Product Financing Arrangement [Member] | System Implementation [Member]
Debt Instrument, Term (Month)	3 years

Note 11 - Accounts Payable an_4

Note 11 - Accounts Payable and Other Accrued Expenses - Accounts Payable and Other Accrued Expenses (Details) - USD ($)	Sep. 30, 2020	Sep. 30, 2019
Legal	$ 1,068,000	$ 900,000
Audit	318,000	239,000
Telecommunications	74,000	125,000
Data Services	467,000	296,000
Regulatory	2,176,000	292,000
Settlements	920,000	1,817,000
Deferred rent		772,000
Other	4,633,000	4,202,000
Total	$ 9,656,000	$ 8,643,000

Note 12 - Income Taxes (Details

Note 12 - Income Taxes (Details Textual) - USD ($)	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2020
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	$ (339,000)
Domestic Tax Authority [Member]
Operating Loss Carryforwards, Total		$ 11,900,000
Domestic Tax Authority [Member] | Gilman [Member]
Operating Loss Carryforwards, Total		4,600,000
State and Local Jurisdiction [Member]
Operating Loss Carryforwards, Total		$ 7,300,000

Note 12 - Income Taxes - Income

Note 12 - Income Taxes - Income Taxes (Details) - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Current income tax expense, federal	$ 275,000	$ 424,000
Current income tax expense, state	765,000	263,000
Current income tax expense	1,040,000	687,000
Deferred income tax benefit, federal	(2,172,000)	(145,000)
Deferred income tax benefit, state	(733,000)	(223,000)
Deferred income tax benefit	(2,905,000)	(368,000)
Total income tax expense, federal	(1,897,000)	279,000
Total income tax expense, state	32,000	40,000
Total income tax expense	(1,865,000)	319,000
Deferred income tax expense (benefit)	$ (2,905,000)	$ (368,000)

Note 12 - Income Taxes - Inco_2

Note 12 - Income Taxes - Income Tax Provision (Benefit) (Details)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Statutory federal rate	21.00%	(21.00%)
State income taxes, net of federal income tax expense (benefit)	5.60%	1.80%
Permanent differences for tax purposes	(2.80%)	9.20%
Change in rate	(1.00%)	9.70%
Write-off of deferred tax asset attributable to change in ownership (see below)		67.70%
Other	1.10%	(3.60%)
Effective Income Tax Rate Reconciliation, Percent, Total	23.90%	63.80%

Note 12 - Income Taxes - Net De

Note 12 - Income Taxes - Net Deferred Tax Assets (Details) - USD ($)	Sep. 30, 2020	Sep. 30, 2019
Net operating loss carryforwards	$ 2,672,000	$ 2,967,000
Operating lease liabilities	4,699,000
Contingent consideration	1,185,000	441,000
Stock based compensation	1,744,000	1,481,000
Accrued expenses	575,000	1,499,000
Accounts receivable and other receivables	147,000	91,000
Federal AMT credit carryforward		260,000
Expenses associated with forgiveness of PPP loans	1,834,000
Fixed assets	(1,073,000)	(510,000)
Intangibles	(2,390,000)	(448,000)
Right-of-use assets	(4,137,000)
Securities	(461,000)	(1,221,000)
Total deferred tax asset, net	$ 4,795,000	$ 4,560,000

Note 13 - Commitments and Con_2

Note 13 - Commitments and Contingencies (Details Textual) - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Litigation Settlement, Expense	$ 682,000	$ 3,008,000
Pending Litigation [Member] | Professional Fees [Member]
Legal Fees	2,623,000	2,052,000
Accounts Payable and Accrued Liabilities [Member] | Pending Litigation [Member]
Loss Contingency Accrual, Ending Balance	$ 920,000	$ 1,817,000

Note 14 - Stockholders' Equit_2

Note 14 - Stockholders' Equity (Details Textual) - USD ($)	Nov. 14, 2018	Apr. 30, 2020	Jan. 31, 2020	Dec. 31, 2019	Aug. 31, 2019	Jul. 31, 2019	Apr. 30, 2019	Feb. 28, 2019	Nov. 30, 2018	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Aug. 31, 2015
Stock Repurchase Program, Authorized Amount													$ 2,000,000
Stock Repurchased During Period, Shares (in shares)										0	0
Class of Warrant or Right, Cancelled During Period (in shares)											7,037,482
FBIO Acquisition, Inc [Member]
Class of Warrant or Right, Cancelled During Period (in shares)	7,037,482
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)								265,960		904,616	1,810,017
Shares Granted, Value, Share-based Payment Arrangement, before Forfeiture								$ 843,000
Restricted Stock Units (RSUs) [Member] | Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)		163,400	39,216	702,000					1,447,292
Shares Granted, Value, Share-based Payment Arrangement, before Forfeiture		$ 250,000	$ 99,000	$ 1,839,000					$ 4,289,000
Restricted Stock [Member] | Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)					20,563	17,925	58,277
Shares Granted, Value, Share-based Payment Arrangement, before Forfeiture					$ 47,000	$ 48,000	$ 173,000
Restricted Stock and Restricted Stock Units [Member]
Share-based Payment Arrangement, Expense										$ 3,108,000	$ 4,282,000
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount										$ 4,106,000		$ 4,106,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)										2 years 182 days
Share-based Payment Arrangement, Option [Member]
Share-based Payment Arrangement, Expense										$ 0	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)										5 years
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)												5 years

Note 14 - Stockholders' Equit_3

Note 14 - Stockholders' Equity - Summary of Non-vested Restricted Stock Units (Details) - Restricted Stock Units (RSUs) [Member] - USD ($)	1 Months Ended	12 Months Ended
	Feb. 28, 2019	Sep. 30, 2020	Sep. 30, 2019
Non-Vested restricted stock units (in shares)		3,318,640	2,207,242
Non-Vested restricted stock units, weighted average grant date fair value		$ 10,006,000	$ 7,302,000
Granted (in shares)	265,960	904,616	1,810,017
Granted, weighted average grant date fair value		$ 2,188,000	$ 5,400,000
Vested (in shares)		(663,736)	(563,711)
Vested, weighted average grant date fair value		$ (2,357,000)	$ (2,261,000)
Forfeited (in shares)		(61,205)	(134,908)
Forfeited, weighted average grant date fair value		$ (142,000)	$ (435,000)
Non-Vested restricted stock units (in shares)		3,498,315	3,318,640
Non-Vested restricted stock units, weighted average grant date fair value		$ 9,695,000	$ 10,006,000

Note 14 - Stockholders' Equit_4

Note 14 - Stockholders' Equity - Option Activity (Details) - $ / shares	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018
Outstanding, options (in shares)	604,200	612,000
Outstanding, weighted average exercise price per share (in dollars per share)	$ 6.19	$ 6.23
Outstanding, weighted average grant-date fair value per share (in dollars per share)	$ 1.58	$ 1.59
Outstanding, weighted average remaining contractual term (Year)	2 years 302 days	2 years 105 days	3 years 98 days
Forfeited or expired, options (in shares)	(335,000)	(7,800)
Forfeited or expired, weighted average exercise price per share (in dollars per share)	$ 6.97	$ 5.54
Forfeited or expired, weighted average grant-date fair value per share (in dollars per share)	$ 1.08	$ 2.69
Outstanding, options (in shares)	269,200	604,200	612,000
Outstanding, weighted average exercise price per share (in dollars per share)	$ 5.22	$ 6.19	$ 6.23
Outstanding, weighted average grant-date fair value per share (in dollars per share)	$ 2.19	$ 1.58	$ 1.59
Vested and exercisable, options (in shares)	269,200
Vested and exercisable, weighted average exercise price per share (in dollars per share)	$ 5.22
Vested and exercisable, weighted average grant-date fair value per share (in dollars per share)	$ 2.19
Vested and exercisable, weighted average remaining contractual term (Year)	2 years 302 days

Note 14 - Stockholders' Equit_5

Note 14 - Stockholders' Equity - Warrant Activity (Details) - $ / shares	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018
Outstanding, warrants (in shares)	5,398,907	12,436,427
Outstanding, weighted average exercise price per share (in dollars per share)	$ 3.25	$ 3.25
Outstanding, weighted average remaining contractual period (Year)	1 year 109 days	2 years 109 days	3 years 109 days
Exercised, warrants (in shares)		(38)
Exercised, weighted average exercise price per share (in dollars per share)		$ 3.25
Forfeited or expired, warrants (in shares)		(7,037,482)
Forfeited or expired, weighted average exercise price per share (in dollars per share)		$ 3.25
Outstanding, warrants (in shares)	5,398,907	5,398,907	12,436,427
Outstanding, weighted average exercise price per share (in dollars per share)	$ 3.25	$ 3.25	$ 3.25

Note 15 - Net Capital Require_2

Note 15 - Net Capital Requirements of Broker Dealer Subsidiary (Details Textual)	Sep. 30, 2020USD ($)
National Securities [Member]
Broker-Dealer, Net Capital, Total	$ 3,812,891
Broker-Dealer, Excess Net Capital, Alternative Standard, Total	2,812,891
National Securities [Member] | SEC Requirement [Member]
Broker-Dealer, Minimum Net Capital Required, Aggregate Indebtedness Standard, Total	1,000,000
Winslow, Evans & Crocker [Member]
Broker-Dealer, Net Capital, Total	467,947
Broker-Dealer, Excess Net Capital, Alternative Standard, Total	$ 305,992
Broker-Dealer, Minimum Net Capital Required, Aggregate Indebtedness Standard to Net Capital Ratio, Actual	5.2
Winslow, Evans & Crocker [Member] | SEC Requirement [Member]
Broker-Dealer, Minimum Net Capital Required, Aggregate Indebtedness Standard, Total	$ 161,955
Broker-Dealer, Minimum Net Capital Required, Maximum Aggregate Indebtedness Standard to Net Capital Ratio	15
Financial Services International Corporation [Member]
Broker-Dealer, Minimum Net Capital Required, Aggregate Indebtedness Standard to Net Capital Ratio, Actual	0.2
Financial Services International Corporation [Member] | SEC Requirement [Member]
Broker-Dealer, Net Capital, Total	$ 117,538
Broker-Dealer, Excess Net Capital, Alternative Standard, Total	112,538
Broker-Dealer, Minimum Net Capital Required, Aggregate Indebtedness Standard, Total	$ 5,000

Note 17 - Employee Benefits (De

Note 17 - Employee Benefits (Details Textual) - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent	75.00%
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 220,000	$ 146,000

Note 18 - Segment Information_2

Note 18 - Segment Information (Details Textual)	12 Months Ended
	Sep. 30, 2020
Number of Reportable Segments	2

Note 18 - Segment Information -

Note 18 - Segment Information - Segment Information (Details) - USD ($)		12 Months Ended
		Sep. 30, 2020		Sep. 30, 2019
Revenues		$ 229,875,000		$ 212,941,000
Pre-tax income (loss)		(8,079,000)		2,160,000
Identifiable assets		107,237,000		81,207,000
Depreciation and amortization		2,854,000		1,832,000
Interest		90,000		32,000
Capital expenditures		241,000
Capital expenditures				3,124,000
Corporate, Non-Segment [Member]
Revenues		2,000
Pre-tax income (loss)		(5,748,000)	[1]	(5,447,000)	[2]
Identifiable assets	[3]	16,488,000		15,014,000
Depreciation and amortization		687,000		501,000
Interest
Capital expenditures		145,000
Capital expenditures				2,273,000
Brokerage and Advisory Services [Member] | Operating Segments [Member]
Revenues		219,724,000		204,134,000
Pre-tax income (loss)		(2,230,000)		7,522,000
Identifiable assets		81,590,000		61,880,000
Depreciation and amortization		1,451,000		841,000
Interest		90,000		32,000
Capital expenditures		(45,000)
Capital expenditures				776,000
Tax and Accounting Services [Member] | Operating Segments [Member]
Revenues		10,149,000		8,807,000
Pre-tax income (loss)		(101,000)		85,000
Identifiable assets		9,159,000		4,313,000
Depreciation and amortization		716,000		490,000
Interest
Capital expenditures		$ 141,000
Capital expenditures				$ 75,000
[1]	Consists of board of director fees and other expenses not allocated to reportable segments by management.
[2]	Consists of loss on the change in fair value of warrant liability, executive salaries and other expenses not allocated to reportable segments by management.
[3]	Consists principally of deferred tax assets, cash, prepaid and fixed asset balances held at Corporate.

Note 20 - Revenues From Contr_3

Note 20 - Revenues From Contracts and Significant Customers - Disaggregation of Revenue (Details) - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Revenue from contracts with customers	$ 223,959,000	$ 207,884,000
Other revenue	5,916,000	5,057,000
Total Revenues	229,875,000	212,941,000
Commissions and Transfer Fees and Clearing Services [Member]
Revenue from contracts with customers	126,855,000	95,021,000
Banking [Member]
Revenue from contracts with customers	51,280,000	69,656,000
Investment Advice [Member]
Revenue from contracts with customers	35,676,000	34,400,000
Tax Preparation and Accounting [Member]
Revenue from contracts with customers	10,148,000	8,807,000
Corporate, Non-Segment [Member]
Revenue from contracts with customers
Other revenue	2,000
Total Revenues	2,000
Corporate, Non-Segment [Member] | Commissions and Transfer Fees and Clearing Services [Member]
Revenue from contracts with customers
Corporate, Non-Segment [Member] | Banking [Member]
Revenue from contracts with customers
Corporate, Non-Segment [Member] | Investment Advice [Member]
Revenue from contracts with customers
Corporate, Non-Segment [Member] | Tax Preparation and Accounting [Member]
Revenue from contracts with customers
Brokerage and Advisory Services [Member] | Operating Segments [Member]
Revenue from contracts with customers	213,811,000	199,077,000
Other revenue	5,913,000	5,057,000
Total Revenues	219,724,000	204,134,000
Brokerage and Advisory Services [Member] | Operating Segments [Member] | Commissions and Transfer Fees and Clearing Services [Member]
Revenue from contracts with customers	126,855,000	95,021,000
Brokerage and Advisory Services [Member] | Operating Segments [Member] | Banking [Member]
Revenue from contracts with customers	51,280,000	69,656,000
Brokerage and Advisory Services [Member] | Operating Segments [Member] | Investment Advice [Member]
Revenue from contracts with customers	35,676,000	34,400,000
Brokerage and Advisory Services [Member] | Operating Segments [Member] | Tax Preparation and Accounting [Member]
Revenue from contracts with customers
Tax and Accounting Services [Member] | Operating Segments [Member]
Revenue from contracts with customers	10,148,000	8,807,000
Other revenue	1,000
Total Revenues	10,149,000	8,807,000
Tax and Accounting Services [Member] | Operating Segments [Member] | Commissions and Transfer Fees and Clearing Services [Member]
Revenue from contracts with customers
Tax and Accounting Services [Member] | Operating Segments [Member] | Banking [Member]
Revenue from contracts with customers
Tax and Accounting Services [Member] | Operating Segments [Member] | Investment Advice [Member]
Revenue from contracts with customers
Tax and Accounting Services [Member] | Operating Segments [Member] | Tax Preparation and Accounting [Member]
Revenue from contracts with customers	$ 10,148,000	$ 8,807,000

Note 21 - Leases (Details Textu

Note 21 - Leases (Details Textual)	1 Months Ended
	Oct. 31, 2018
Lessee, Finance Lease, Term of Contract (Month)	2 years
Lessee, Finance Lease, Discount Rate	5.60%
Leased Equipment [Member]
Property, Plant and Equipment, Useful Life (Year)	7 years

Note 21 - Leases - Components o

Note 21 - Leases - Components of Lease Expense (Details) - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Operating lease cost:	$ 5,258,000
Amortization of finance lease assets	77,000
Interest on finance lease liabilities	10,000
Total finance lease cost	87,000
Sublease income:	345,000
Operating cash flows from finance leases (interest)	10,000
Operating cash flows from operating leases (lease payments reflected in the change in accounts payable, accrued expenses and other liabilities in the statement of cash flows)	4,006,000
Financing cash flows from finance leases (principal payments)	236,000	$ 223,000
Operating lease assets obtained in exchange for lease liabilities	$ 1,574,000
Operating Leases (in years) (Year)	7 years 102 days
Operating Leases	5.50%

Note 21 - Leases - Future Minim

Note 21 - Leases - Future Minimum Lease Payments (Details) - USD ($)	Sep. 30, 2020	Sep. 30, 2019
2021, operating leases	$ 4,385,000
2021, capital lease	51,000
2022, operating leases	2,746,000
2022, capital lease
2023, operating leases	2,588,000
2023, capital lease
2024, operating leases	2,400,000
2024, capital lease
2025, operating leases	2,258,000
2025, capital lease
Thereafter, operating leases	6,071,000
Thereafter, capital lease
Total minimum lease payments, operating leases	20,448,000
Total minimum lease payments, capital lease	51,000
Less: Amounts representing interest not yet incurred, operating leases	3,729,000
Less: Amounts representing interest not yet incurred, capital lease
Present value of lease obligations, operating leases	16,719,000
Present value of lease obligations, capital lease	$ 51,000

Note 21 - Leases - Balances for

Note 21 - Leases - Balances for Operating and Finance Right-of-use Assets and Lease Liabilities (Details) - USD ($)	Sep. 30, 2020	Sep. 30, 2019
Right-of-use assets	$ 14,721,000
Finance lease assets	336,000
Total lease assets	15,057,000
Present value of lease obligations, operating leases	16,719,000
Finance lease liabilities	51,000
Total lease liabilities	$ 16,770,000

Note 22 - Paycheck Protection_2

Note 22 - Paycheck Protection Program (Details Textual) - Paycheck Protection Program CARES Act [Member] - USD ($)	Apr. 15, 2020	Apr. 10, 2020
NSC [Member]
Proceeds from Issuance of Long-term Debt, Total		$ 5,523,738
WEC [Member]
Proceeds from Issuance of Long-term Debt, Total	$ 973,062