Crawford United (CRAWA) 10-Q 14 Aug 15 2015 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Jun. 30, 2015	Aug. 07, 2015
Common Class A [Member]
Entity Common Stock, Shares Outstanding (in shares)		1,163,349
Common Class B [Member]
Entity Common Stock, Shares Outstanding (in shares)		474,866
Entity Registrant Name	HICKOK INC
Entity Central Index Key	47,307
Current Fiscal Year End Date	--09-30
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Income Statements

Consolidated Income Statements (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Net Sales
Product Sales	$ 1,746,940	$ 2,074,295	$ 3,886,037	$ 4,112,374
Service Sales	57,674	56,117	171,977	184,747
Total Net Sales	1,804,614	2,130,412	4,058,014	4,297,121
Costs and Expenses
Cost of Product Sold	961,912	963,721	2,395,268	2,259,005
Cost of Service Sold	34,908	41,777	110,856	124,333
Product Development	245,794	243,600	742,239	727,810
Marketing and Administrative Expenses	453,903	496,832	1,253,872	1,425,374
Interest Charges	171	2,691	470	2,691
Other (Income) Expense	(1,705)	(5,120)	(7,003)	(11,061)
Total Costs and Expenses	1,694,983	1,743,501	4,495,702	4,528,152
Income (Loss) before Provision for Income Taxes	$ 109,631	$ 386,911	$ (437,688)	$ (231,031)
Income (Recovery of) Taxes
Net Income (Loss)	$ 109,631	$ 386,911	$ (437,688)	$ (231,031)
Earnings per Common Share:
Net Income (Loss) (in dollars per share)	$ 0.07	$ 0.24	$ (0.27)	$ (0.14)
Earnings per Common Share Assuming Dilution:
Net Income (Loss) (in dollars per share)	0.07	0.23	(0.27)	(0.14)
Dividends per Common Share (in dollars per share)	$ 0	$ 0	$ 0	$ 0

Consolidated Balance Sheet (Una

Consolidated Balance Sheet (Unaudited) - USD ($)	Jun. 30, 2015	Sep. 30, 2014	Jun. 30, 2014
Common Class A [Member]
Stockholders' Equity
Common stock	$ 1,261,188	$ 1,261,188	$ 1,261,188
Common Class B [Member]
Stockholders' Equity
Common stock	474,866	474,866	474,866
Cash and Cash Equivalents	364,649	390,327	129,731
Trade Accounts Receivable - Net	$ 752,677	$ 1,172,268	$ 1,531,183
Notes Receivable - Current
Inventories	$ 1,681,100	$ 1,714,197	$ 2,107,875
Prepaid Expenses	70,549	37,989	68,781
Total Current Assets	2,868,975	3,314,781	3,837,570
Land	233,479	233,479	233,479
Buildings	1,429,718	1,429,718	1,429,718
Machinery and Equipment	2,567,635	2,516,380	2,499,678
	4,230,832	4,179,577	4,162,875
Less: Allowance for Depreciation	3,849,691	3,800,551	3,801,592
Total Property - Net	381,141	379,026	361,283
Notes Receivable - Long-term	4,100	4,100	4,100
Deposits	1,750	1,750	1,750
Total Other Assets	5,850	5,850	5,850
Total Assets	$ 3,255,966	$ 3,699,657	4,204,703
Short-term Financing			683,400
Convertible Notes Payable-related party	$ 200,000		200,000
Trade Accounts Payable	173,103	$ 145,557	203,356
Accrued Payroll & Related Expenses	149,335	132,719	116,458
Accrued Expenses	374,204	178,815	456,576
Accrued Taxes Other Than Income	$ 37,445	$ 48,342	$ 25,839
Accrued Income Taxes
Total Current Liabilities	$ 934,087	$ 505,433	$ 1,685,629
Convertible Notes Payable-related party		200,000
Accrued expenses		235,200
Total Long-Term Liabilities		$ 435,200
Preferred, no par value; authorized 1,000,000 shares; no shares outstanding
Contributed Capital	$ 1,488,560	$ 1,488,017	$ 1,487,474
Retained Earnings	(902,735)	(465,047)	(704,454)
Total Stockholders' Equity	2,321,879	2,759,024	2,519,074
Total Liabilities and Stockholders' Equity	$ 3,255,966	$ 3,699,657	$ 4,204,703

Consolidated Balance Sheet (Un4

Consolidated Balance Sheet (Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2015	Sep. 30, 2014	Jun. 30, 2014
Common Class A [Member]
Class of common stock - par value (in dollars per share)	$ 0	$ 0	$ 0
Class of common stock - shares authorized (in shares)	10,000,000	10,000,000	10,000,000
Class of common stock - shares outstanding (in shares)	1,163,349	1,163,349	1,163,349
Class of common stock - excluding shares in treasury (in shares)	15,795	15,795	15,795
Common Class B [Member]
Class of common stock - par value (in dollars per share)	$ 0	$ 0	$ 0
Class of common stock - shares authorized (in shares)	2,500,000	2,500,000	2,500,000
Class of common stock - shares outstanding (in shares)	474,866	474,866	474,866
Class of common stock - excluding shares in treasury (in shares)	667	667	667
Preferred stock - par value (in dollars per share)	$ 0	$ 0	$ 0
Preferred stock - shares authorized (in shares)	1,000,000	1,000,000	1,000,000
Preferred stock - shares outstanding (in shares)	0	0	0

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash Flows from Operating Activities:
Cash received from customers	$ 4,477,605	$ 3,404,254
Cash paid to suppliers and employees	$ (4,452,731)	$ (4,986,377)
Interest paid
Interest received	$ 703	$ 518
Income taxes (paid) refunded
Net Cash Provided By (Used In) Operating Activities	$ 25,577	$ (1,581,605)
Cash Flows from Investing Activities:
Capital expenditures	(51,255)	(110,916)
Net Cash Provided By (Used In) Investing Activities	$ (51,255)	(110,916)
Cash Flows from Financing Activities:
Short-term borrowing		683,400
Increase in Convertible Notes Payable		200,000
Net Cash Provided By (Used In) Financing Activities		883,400
Net increase (decrease) in cash and cash equivalents	$ (25,678)	(809,121)
Cash and cash equivalents at beginning of year	390,327	938,852
Cash and cash equivalents at end of third quarter	364,649	129,731
Reconciliation of Net Income (Loss) to Net Cash Provided By (Used In) Operating Activities:
Net Income (Loss)	(437,688)	(231,031)
Adjustments to reconcile Net Income (Loss) to net cash provided by operating activities:
Depreciation	49,140	49,140
Non-cash share-based compensation expense	543	2,294
Changes in assets and liabilities:
Decrease (Increase) in trade accounts receivable	419,591	(892,867)
Decrease (Increase) in inventories	33,097	(518,059)
Decrease (Increase) in prepaid expenses	(32,560)	(36,439)
Increase (Decrease) in accounts payable	27,546	29,120
Increase (Decrease) in accrued payroll and related expenses	16,616	(26,061)
Increase (Decrease) in accrued expenses and accrued taxes other than income	(50,708)	42,298
Total Adjustments	463,265	(1,350,574)
Net Cash Provided By (Used In) Operating Activities	$ 25,577	$ (1,581,605)

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	9 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Basis of Accounting [Text Block]	1. Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and nine month periods ended June 30, 2015 are not necessarily indicative of the results that may be expected for the year ended September 30, 2015. For further information, refer to the consolidated financial statements and footnotes thereto included in the Company's annual report on Form 10-K for the year ended September 30, 2014.

Note 2 - Inventories

Note 2 - Inventories	9 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Inventory Disclosure [Text Block]	2. Inventories Inventories are valued at the lower of cost or market and consist of the following: June 30, 2015 Sept. 30, 2014 June 30, 2014 Components $ 1,059,014 $ 1,066,672 $ 916,362 Work-in-Process 475,436 521,424 1,035,529 Finished Product 146,650 126,101 155,984 $ 1,681,100 $ 1,714,197 $ 2,107,875 The above amounts are net of reserve for obsolete inventory in the amount of $371,564, $363,500 and $817,000 for the periods ended June 30, 2015, September 30, 2014 and June 30, 2014 respectively.

Note 3 - Notes Receivable

Note 3 - Notes Receivable	9 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	3. Notes Receivable The Company has a note receivable with a current employee at an interest rate of three percent per annum. The Company does not anticipate repayment within the next twelve months.

Note 4 - Convertible Notes Paya

Note 4 - Convertible Notes Payable	9 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Debt Disclosure [Text Block]	4. Convertible Notes Payable Company issued a convertible note to Roundball in the amount of $466,879. In addition, Roundball, LLC had the right to cause the Company to borrow up to an additional $466,880 from Roundball, LLC. The note was unsecured, bore interest at a rate of 0.20% per annum and was set to mature on December 30, 2012.

Note 5 - Short-term Financing

Note 5 - Short-term Financing	9 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Short-term Debt [Text Block]	5. Short-term Financing The Company had a credit agreement of $250,000 with Robert L. Bauman, one of its major shareholders who is also an employee of the Company. The agreement was to expire in April 2013 but was modified on December 31, 2012 to extend the maturity date to December 2013. In partial consideration for the original extension of the revolving credit facility the Company and Bauman entered into a Warrant Agreement, dated December 30, 2012 whereby the Company issued a warrant to Bauman to purchase, at his option, up to 100,000 shares of Class A Common Stock of the Company at an exercise price of $2.50 per share, subject to certain anti-dilution and other adjustments. If not exercised, this warrant will expire on December 30, 2015. The Company used the Black-Scholes option pricing model to determine the fair value estimate for recognizing the cost of services received in exchange for an award of equity instruments. The Black-Scholes option pricing model requires the use of subjective assumptions which can materially affect the fair value estimates. The warrants are immediately exercisable and expire in December 2015. The fair value of the warrants issued was amortized over the one year credit agreement period.

Note 6 - Capital Stock, Treasur

Note 6 - Capital Stock, Treasury Stock, Contributed Capital and Stock Options	9 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	6. Capital Stock, Treasury Stock, Contributed Capital and Stock Options Unissued shares of Class A common stock (947,233 shares) are reserved for the share-for-share conversion rights of the Class B common stock, stock options under the Directors Plans, conversion rights of the Convertible Promissory Note and available warrants. On February 27, 2013, the Company's 2013 Omnibus Equity Plan was approved and adopted by an affirmative vote of a majority of the Company's Class A and Class B Shareholders. The 2013 Omnibus Plan will provide the Company with the flexibility to grant a variety of share-based awards for covered employees, consultants and Directors. The 2013 Omnibus Plan provides for the grant of the following types of incentive awards: stock options, stock appreciation rights, restricted shares, restricted share units, performance shares and Class A Common Shares. Those who will be eligible for awards under the 2013 Omnibus Plan include employees who provide services to the Company and its affiliates, executive officers, non-employee Directors and consultants designated by the Compensation Committee. The Plan has 150,000 Class A Common Shares reserved for issuance. The Class A Common Shares may be either authorized, but unissued, common shares or treasury shares. No share-based awards have been granted under the 2013 Omnibus Equity Plan as of June 30, 2015. The Company's expired Outside Directors Stock Option Plans (collectively the "Directors Plans"), have provided for the automatic grant of options to purchase up to 20,000 shares of Class A Common Stock to members of the Board of Directors who are not employees of the Company, at the fair market value on the date of grant. Options for 20,000 Class A shares were outstanding at June 30, 2015 (22,000 shares at September 30, 2014 and 29,000 shares at June 30, 2014) at prices ranging from $2.925 to $11.00 per share. Options for 2,000 shares expired during the three month period ended March 31, 2015 at $6.45 per share. In addition, options for 2,000 shares expired during the three month period ended March 31, 2014 at $7.25 per share. All outstanding options under the expired Directors Plans become fully exercisable on March 8, 2015. The following is a summary of the range of exercise prices for stock options outstanding and exercisable under the expired Directors Plans at June 30, 2015: Directors Plans Outstanding Options Weighted Share Price Weighted Life Number of Exercisable Weighted Price Range of exercise prices: $ 2.925 - 5.25 13,000 $ 3.28 5.1 13,000 $ 3.28 $ 6.00 3,000 $ 6.00 4.8 3,000 $ 6.00 $ 10.50 - 11.00 4,000 $ 10.75 2.3 4,000 $ 10.75 20,000 $ 5.18 20,000 $ 5.18 The Company accounts for Share-Based Payments under the modified prospective method for its stock options for both employees and non-employee Directors. Compensation cost for fixed based awards are measured at the grant date, and the Company uses the Black-Scholes option pricing model to determine the fair value estimates for recognizing the cost of employee and director services received in exchange for an award of equity instruments. The Black-Scholes option pricing model requires the use of subjective assumptions which can materially affect the fair value estimates. Employee stock options are immediately exercisable while Director's stock options are exercisable over a three year period. The fair value of stock option grants to Directors is amortized over the three year vesting period. During the three and the nine month periods ended June 30, 2015 and 2014 respectively $0 and $543; $543 and $2,294 was expensed as share-based compensation. The following weighted-average assumptions were used in the option pricing model for the three and nine month periods ended June 30, 2015 and 2014 respectively: a risk free interest rate of 5.0% and 5.0%; an expected life of 10 and 10 years; an expected dividend yield of 0.0% and 0.0%; and a volatility factor of .87 and .87.

Note 7 - Recently Issued Accoun

Note 7 - Recently Issued Accounting Pronouncements	9 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	7. Recently Issued Accounting Pronouncements The Company did not incur any material impact to its financial condition or results of operations due to the adoption of any new accounting standards during the periods reported. In May 2014, the FASB issued its final standard on the recognition of revenue from contracts with customers. The standard, issued as Accounting Standards Update (ASU) 2014-09, outlines a single comprehensive model for entities to use in the accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry specific guidance. The core principle of this model is that “an entity recognizes revenue to depict the transfer of promised goods or services to a customer in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services.” The update is effective for financial statement periods beginning after December 15, 2016, with early adoption prohibited. However, the FASB currently has a proposal outstanding to defer the effective date by one year. The Company has not determined the impact of this pronouncement on its financial statements and related disclosure.

Note 8 - Earnings Per Common Sh

Note 8 - Earnings Per Common Share	9 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Earnings Per Share [Text Block]	8. Earnings per Common Share Earnings per common share information is computed on the weighted average number of shares outstanding during each period based on the provisions of FASB Codification ASC Topic 260, "Earnings per Share." The required reconciliations are as follows: Three Months Ended June 30, Nine Months Ended June 30, 2015 2014 2015 2014 Basic Income (Loss) per Share Income (Loss) available to common stockholders $ 109,631 $ 386,911 $ (437,688 ) $ (231,031 ) Shares denominator 1,638,215 1,638,215 1,638,215 1,638,215 Per share amount $ .07 $ .24 $ (.27 ) $ (.14 ) Effect of Dilutive Securities Average shares outstanding 1,638,215 1,638,215 1,638,215 1,638,215 Stock options -* 27,906 -* -* 1,638,215 1,666,121 1,638,215 1,638,215 Diluted Income (Loss) per Share Income (Loss) available to common stockholders $ 109,631 $ 386,911 $ (437,688 ) $ (231,031 ) Per share amount $ .07 $ .23 $ (.27 ) $ (.14 ) * Net effect of stock options and warrants were antidilutive for the period. Options and warrants to purchase 20,000 and 200,000 shares of common stock respectively during the third quarter and the first nine months of fiscal 2015 at prices ranging from $2.50 to $11.00 per share were outstanding but were not included in the computation of diluted earnings per share because the option's and warrant's effect was antidilutive or the exercise price was greater than the average market price of the common share. In addition, conversion rights to purchase 252,367 shares of common stock during the third quarter and first nine months of fiscal 2015 at a price of $1.85 per share were not included in the computation of diluted earnings per share because the conversion rights of the Convertible Promissory Notes effect was antidilutive or the exercise price was greater than the average market price of the common share. Options and warrants to purchase 29,000 and 200,000 shares of common stock respectively during the third quarter and the first nine months of fiscal 2014 at prices ranging from $2.50 to $11.00 per share were outstanding but were not included in the computation of diluted earnings per share because the option's and warrant's effect was antidilutive or the exercise price was greater than the average market price of the common share. In addition, conversion rights to purchase 252,367 shares of common stock during the first nine months of fiscal 2014 at a price of $1.85 per share were not included in the computation of diluted earnings per share because the conversion rights of the Convertible Promissory Notes effect was antidilutive or the exercise price was greater than the average market price of the common share.

Note 9 - Segment and Related In

Note 9 - Segment and Related Information	9 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	9. Segment and Related Information The Company's three business units have a common management team and infrastructure that offer different products and services. The business units have been aggregated into two reportable segments: 1.) indicators and gauges and 2.) automotive related diagnostic tools and equipment. Indicators and Gauges Automotive Diagnostic Tools and Equipment Information by industry segment is set forth below: Three Months Ended June 30, Nine Months Ended June 30, 2015 2014 2015 2014 Net Revenue Indicators and Gauges $ 332,771 $ 460,749 $ 933,707 $ 1,211,350 Automotive Diagnostic Tools and Equipment 1,471,843 1,669,663 3,124,307 3,085,771 $ 1,804,614 $ 2,130,412 $ 4,058,014 $ 4,297,121 Income (Loss) before provision for Income Taxes Indicators and Gauges $ 54,783 $ 138,030 $ 119,379 $ 227,434 Automotive Diagnostic Tools and Equipment 294,830 531,969 172,283 430,759 General Corporate Expenses (239,982 ) (283,088 ) (729,350 ) (889,224 ) $ 109,631 $ 386,911 $ (437,688 ) $ (231,031 ) Asset Information Indicators and Gauges $ 721,504 $ 800,751 Automotive Diagnostic Tools and Equipment 1,705,065 2,836,401 Corporate 829,397 567,551 $ 3,255,966 $ 4,204,703 Geographical Information Included in the consolidated financial statements are the following amounts related to geographical locations: Revenue: United States $ 1,739,642 $ 2,103,243 $ 3,935,224 $ 4,201,849 Australia 1,602 5,996 13,402 30,134 Canada 21,487 14,197 57,041 35,911 Mexico 7,283 6,976 17,747 25,288 China 29,657 - 29,657 - Other foreign countries 4,943 - 4,943 3,939 $ 1,804,614 $ 2,130,412 $ 4,058,014 $ 4,297,121 All export sales to Australia, Canada, Mexico, China and other foreign countries are made in United States of America Dollars.

Note 10 - Commitments and Conti

Note 10 - Commitments and Contingencies	9 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	10. Commitments and Contingencies The Company is the plaintiff in a suit pursuing patent infringement against a competitor in the emissions market. Management believes that it is not currently possible to estimate the impact, if any, that the ultimate resolution of this matter will have on the Company's results of operations, financial position or cash flows.

Note 11 - Subsequent Events

Note 11 - Subsequent Events	9 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Subsequent Events [Text Block]	11. Subsequent Events The Company has analyzed its operations subsequent to June 30, 2015 through the date the financial statements were submitted to the Securities and Exchange Commission and has determined that no subsequent events have occurred that would require recognition in the consolidated financial statements or disclosure in the notes to the consolidated financial statements.

Note 12 - Business Condition an

Note 12 - Business Condition and Management Plan	9 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Going Concern Disclosure [Text Block]	12. Business Condition and Management Plan

Note 13 - Potential Acquisition

Note 13 - Potential Acquisition	9 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Business Combination Disclosure [Text Block]	13. Potential Acquisition The Company is engaged in discussions with First Francis Company, Inc., an entity affiliated with two directors of Hickok Incorporated, concerning a potential acquisition of Federal Hose LLC, a wholly owned subsidiary of First Francis. The Company has signed a non-binding Letter of Intent with First Francis and the terms of the potential transaction are still being negotiated.

Note 2 - Inventories (Tables)

Note 2 - Inventories (Tables)	9 Months Ended
	Jun. 30, 2015
Notes Tables
Schedule of Inventory, Current [Table Text Block]	June 30, 2015 Sept. 30, 2014 June 30, 2014 Components $ 1,059,014 $ 1,066,672 $ 916,362 Work-in-Process 475,436 521,424 1,035,529 Finished Product 146,650 126,101 155,984 $ 1,681,100 $ 1,714,197 $ 2,107,875

Note 6 - Capital Stock, Treas20

Note 6 - Capital Stock, Treasury Stock, Contributed Capital and Stock Options (Tables)	9 Months Ended
	Jun. 30, 2015
Directors Plans [Member]
Notes Tables
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]	Directors Plans Outstanding Options Weighted Share Price Weighted Life Number of Exercisable Weighted Price Range of exercise prices: $ 2.925 - 5.25 13,000 $ 3.28 5.1 13,000 $ 3.28 $ 6.00 3,000 $ 6.00 4.8 3,000 $ 6.00 $ 10.50 - 11.00 4,000 $ 10.75 2.3 4,000 $ 10.75 20,000 $ 5.18 20,000 $ 5.18

Note 8 - Earnings Per Common 21

Note 8 - Earnings Per Common Share (Tables)	9 Months Ended
	Jun. 30, 2015
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended June 30, Nine Months Ended June 30, 2015 2014 2015 2014 Basic Income (Loss) per Share Income (Loss) available to common stockholders $ 109,631 $ 386,911 $ (437,688 ) $ (231,031 ) Shares denominator 1,638,215 1,638,215 1,638,215 1,638,215 Per share amount $ .07 $ .24 $ (.27 ) $ (.14 ) Effect of Dilutive Securities Average shares outstanding 1,638,215 1,638,215 1,638,215 1,638,215 Stock options -* 27,906 -* -* 1,638,215 1,666,121 1,638,215 1,638,215 Diluted Income (Loss) per Share Income (Loss) available to common stockholders $ 109,631 $ 386,911 $ (437,688 ) $ (231,031 ) Per share amount $ .07 $ .23 $ (.27 ) $ (.14 )

Note 9 - Segment and Related 22

Note 9 - Segment and Related Information (Tables)	9 Months Ended
	Jun. 30, 2015
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended June 30, Nine Months Ended June 30, 2015 2014 2015 2014 Net Revenue Indicators and Gauges $ 332,771 $ 460,749 $ 933,707 $ 1,211,350 Automotive Diagnostic Tools and Equipment 1,471,843 1,669,663 3,124,307 3,085,771 $ 1,804,614 $ 2,130,412 $ 4,058,014 $ 4,297,121 Income (Loss) before provision for Income Taxes Indicators and Gauges $ 54,783 $ 138,030 $ 119,379 $ 227,434 Automotive Diagnostic Tools and Equipment 294,830 531,969 172,283 430,759 General Corporate Expenses (239,982 ) (283,088 ) (729,350 ) (889,224 ) $ 109,631 $ 386,911 $ (437,688 ) $ (231,031 ) Asset Information Indicators and Gauges $ 721,504 $ 800,751 Automotive Diagnostic Tools and Equipment 1,705,065 2,836,401 Corporate 829,397 567,551 $ 3,255,966 $ 4,204,703 Revenue: United States $ 1,739,642 $ 2,103,243 $ 3,935,224 $ 4,201,849 Australia 1,602 5,996 13,402 30,134 Canada 21,487 14,197 57,041 35,911 Mexico 7,283 6,976 17,747 25,288 China 29,657 - 29,657 - Other foreign countries 4,943 - 4,943 3,939 $ 1,804,614 $ 2,130,412 $ 4,058,014 $ 4,297,121

Note 2 - Inventories (Details T

Note 2 - Inventories (Details Textual) - USD ($)	Jun. 30, 2015	Sep. 30, 2014	Jun. 30, 2014
Inventory Valuation Reserves	$ 371,564	$ 363,500	$ 817,000

Note 2 - Inventory (Details)

Note 2 - Inventory (Details) - USD ($)	Jun. 30, 2015	Sep. 30, 2014	Jun. 30, 2014
Components	$ 1,059,014	$ 1,066,672	$ 916,362
Work-in-Process	475,436	521,424	1,035,529
Finished Product	146,650	126,101	155,984
	$ 1,681,100	$ 1,714,197	$ 2,107,875

Note 3 - Notes Receivable (Deta

Note 3 - Notes Receivable (Details Textual)	9 Months Ended
	Jun. 30, 2015
Unsecured Note Receivable Interest Rate	3.00%

Note 4 - Convertible Notes Pa26

Note 4 - Convertible Notes Payable (Details Textual)	Dec. 30, 2012USD ($)$ / sharesshares	Aug. 20, 2012USD ($)	Dec. 30, 2011USD ($)$ / sharesshares	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)shares	Dec. 30, 2013USD ($)
Director [Member] | Roundball LLC [Member] | Amendment No. 3 [Member] | Common Class A [Member]
Threshold Percentage of Class A Common Share Holders							67.00%
Director [Member] | Roundball LLC [Member] | Amendment No. 3 [Member] | Common Class B [Member]
Common Stock, Voting Rights, per Share							3
Director [Member] | Roundball LLC [Member] | Amendment No. 3 [Member] | Upon Approval of Class A Common Share Holders [Member]
Debt Conversion, Convertible Instrument, Shares Issuable | shares							252,367
Director [Member] | Roundball LLC [Member] | Amendment No. 3 [Member]
Working Capital Funding							$ 467,000
Convertible Notes Payable, Current				$ 200,000		$ 200,000
Debt Instrument, Interest Rate, Stated Percentage							0.34%
Line of Credit Facility, Maximum Borrowing Capacity							$ 250,000
Director [Member] | Roundball LLC [Member] | Amendment No 2 [Member]
Working Capital Funding								$ 467,000
Debt Instrument, Interest Rate, Stated Percentage								0.25%
Line of Credit Facility, Maximum Borrowing Capacity								$ 250,000
Director [Member] | Roundball LLC [Member] | Convertible Notes Payable [Member]
Working Capital Funding	$ 467,000
Debt Instrument, Interest Rate, Stated Percentage	0.24%
Line of Credit Facility, Maximum Borrowing Capacity	$ 250,000
Roundball LLC [Member] | Amendment No. 1 [Member] | Warrant to Purchase Class A Common Stock [Member]
Warrant Term	1 year
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares	100,000
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares	$ 2.50
Roundball LLC [Member] | Amendment No 2 [Member]
Convertible Notes Payable, Current				200,000
Proceeds from Convertible Debt						$ 200,000
Roundball LLC [Member] | Additional Borrowing [Member] | Convertible Notes Payable [Member]
Proceeds from Issuance of Debt			$ 466,880
Roundball LLC [Member] | Common Class A [Member] | Convertible Notes Payable [Member]
Debt Instrument, Convertible, Conversion Price | $ / shares			$ 1.85
Convertible Preferred Stock, Shares Issued upon Conversion | shares			504,735
Conversion of Stock, Amount Converted		$ 233,441	$ 233,438
Roundball LLC [Member] | Convertible Notes Payable [Member]
Convertible Notes Payable, Current			$ 466,879
Debt Instrument, Interest Rate, Stated Percentage			0.20%
Convertible Notes Payable, Current				$ 200,000	$ 200,000
Proceeds from Convertible Debt					$ 200,000

Note 5 - Short-term Financing (

Note 5 - Short-term Financing (Details Textual) - Dec. 31, 2013 - USD ($)	Total
Robert L Bauman [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 250,000
Line of Credit Facility, Interest Rate During Period	0.24%
Robert L Bauman [Member]
Warrant Period	3 years
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 2.50
Common Class A [Member] | Robert L Bauman [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	100,000

Note 6 - Capital Stock, Treas28

Note 6 - Capital Stock, Treasury Stock, Contributed Capital and Stock Options (Details Textual) - USD ($)	3 Months Ended				9 Months Ended		28 Months Ended
	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2014	Mar. 31, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Sep. 30, 2014	Feb. 27, 2013
Common Class A [Member] | Omnibus 2013 Equity Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period							0
Common Stock, Capital Shares Reserved for Future Issuance									150,000
Common Class A [Member] | Directors Plans [Member] | Minimum [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit					$ 2.925
Common Class A [Member] | Directors Plans [Member] | Maximum [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit					$ 11
Common Class A [Member] | Directors Plans [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period					3 years
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period					3 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross					20,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	20,000		29,000		20,000	29,000	20,000	22,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period		2,000		2,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Expirations in Period, Weighted Average Exercise Price		$ 6.45		$ 7.25
Common Class A [Member]
Common Stock, Capital Shares Reserved for Future Issuance	947,233				947,233		947,233
Directors Plans [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	5.00%		5.00%		5.00%	5.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	10 years		10 years		10 years	10 years
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	0.00%		0.00%		0.00%	0.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	0.87%		0.87%		0.87%	0.87%
Allocated Share-based Compensation Expense	$ 0		$ 543		$ 543	$ 2,294

Note 6 - Summary of Expired Dir

Note 6 - Summary of Expired Director Plans (Details) - Jun. 30, 2015 - $ / shares	Total
Exercise Price Range 1 [Member]
Range of exercise price, lower limit (in dollars per share)	$ 2.925
Range of exercise price, upper limit (in dollars per share)	$ 5.25
Outstanding stock options (in shares)	13,000
Outstanding, weighted average share price (in dollars per share) (in dollars per share)	$ 3.28
Weighted average remaining life	5 years 36 days
Number of stock options exercisable (in shares)	13,000
Exercisable, weighted average share price (in dollars per share)	$ 3.28
Exercise Price Range 2 [Member]
Range of exercise price, lower limit (in dollars per share)	$ 6
Range of exercise price, upper limit (in dollars per share)
Outstanding stock options (in shares)	3,000
Outstanding, weighted average share price (in dollars per share) (in dollars per share)	$ 6
Weighted average remaining life	4 years 292 days
Number of stock options exercisable (in shares)	3,000
Exercisable, weighted average share price (in dollars per share)	$ 6
Exercise Price Range 3 [Member]
Range of exercise price, lower limit (in dollars per share)	10.50
Range of exercise price, upper limit (in dollars per share)	$ 11
Outstanding stock options (in shares)	4,000
Outstanding, weighted average share price (in dollars per share) (in dollars per share)	$ 10.75
Weighted average remaining life	2 years 109 days
Number of stock options exercisable (in shares)	4,000
Exercisable, weighted average share price (in dollars per share)	$ 10.75
Outstanding stock options (in shares)	20,000
Outstanding, weighted average share price (in dollars per share) (in dollars per share)	$ 5.18
Weighted average remaining life
Number of stock options exercisable (in shares)	20,000
Exercisable, weighted average share price (in dollars per share)	$ 5.18

Note 8 - Earnings Per Common 30

Note 8 - Earnings Per Common Share (Details Textual) - $ / shares	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Equity Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	20,000	29,000		29,000
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		200,000	200,000	200,000
Options and Warrants [Member] | Minimum [Member]
Share Price	$ 2.50	$ 2.50	$ 2.50	$ 2.50
Options and Warrants [Member] | Maximum [Member]
Share Price	$ 11	11	$ 11	$ 11
Conversion Rights [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	252,367		252,367	252,367
Share Price	$ 1.85	$ 1.85	$ 1.85	$ 1.85

Note 8 - Summary of Earnings Pe

Note 8 - Summary of Earnings Per Share Calculation (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Earnings per Common Share:
Income (Loss) available to common stockholders	$ 109,631	$ 386,911	$ (437,688)	$ (231,031)
Shares denominator (in shares)	1,638,215	1,638,215	1,638,215	1,638,215
Net Income (Loss) (in dollars per share)	$ 0.07	$ 0.24	$ (0.27)	$ (0.14)
Effect of Dilutive Securities
Average shares outstanding (in shares)	1,638,215	1,638,215	1,638,215	1,638,215
Stock options (in shares)		27,906
(in shares)	1,638,215	1,666,121	1,638,215	1,638,215
Earnings per Common Share Assuming Dilution:
Income (Loss) available to common stockholders	$ 109,631	$ 386,911	$ (437,688)	$ (231,031)
Per share amount (in dollars per share)	$ 0.07	$ 0.23	$ (0.27)	$ (0.14)
[1]	Net effect of stock options, warrants, and Convertible Note were antidilutive for the period.

Note 9 - Segment and Related 32

Note 9 - Segment and Related Information (Details Textual)	9 Months Ended
	Jun. 30, 2015
Number of Operating Segments	3
Number of Reportable Segments	2

Note 9 - Information by Industr

Note 9 - Information by Industry Segment (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Indicators and Gauges [Member]
Net Sales
Revenue	$ 332,771	$ 460,749	$ 933,707	$ 1,211,350
Income (Loss) before provision for Income Taxes
Income (Loss) before provision for Income Taxes	54,783	138,030	119,379	227,434
Asset Information
Assets	721,504	800,751	721,504	800,751
Revenue:
Revenue	332,771	460,749	933,707	1,211,350
Automotive Diagnostic Tools and Equipment [Member]
Net Sales
Revenue	1,471,843	1,669,663	3,124,307	3,085,771
Income (Loss) before provision for Income Taxes
Income (Loss) before provision for Income Taxes	294,830	531,969	172,283	430,759
Asset Information
Assets	1,705,065	2,836,401	1,705,065	2,836,401
Revenue:
Revenue	1,471,843	1,669,663	3,124,307	3,085,771
Corporate Segment [Member]
Income (Loss) before provision for Income Taxes
Income (Loss) before provision for Income Taxes	(239,982)	(283,088)	(729,350)	(889,224)
Asset Information
Assets	829,397	567,551	829,397	567,551
UNITED STATES
Net Sales
Revenue	1,739,642	2,103,243	3,935,224	4,201,849
Revenue:
Revenue	1,739,642	2,103,243	3,935,224	4,201,849
AUSTRALIA
Net Sales
Revenue	1,602	5,996	13,402	30,134
Revenue:
Revenue	1,602	5,996	13,402	30,134
CANADA
Net Sales
Revenue	21,487	14,197	57,041	35,911
Revenue:
Revenue	21,487	14,197	57,041	35,911
MEXICO
Net Sales
Revenue	7,283	6,976	17,747	25,288
Revenue:
Revenue	7,283	$ 6,976	17,747	$ 25,288
CHINA
Net Sales
Revenue	29,657		29,657
Revenue:
Revenue	29,657		29,657
Other Foreign Countries [Member]
Net Sales
Revenue	4,943		4,943	$ 3,939
Revenue:
Revenue	4,943		4,943	3,939
Revenue	1,804,614	$ 2,130,412	4,058,014	4,297,121
Income (Loss) before provision for Income Taxes	109,631	386,911	(437,688)	(231,031)
Assets	3,255,966	4,204,703	3,255,966	4,204,703
Revenue	$ 1,804,614	$ 2,130,412	$ 4,058,014	$ 4,297,121

Note 12 - Business Condition 34

Note 12 - Business Condition and Management Plan (Details Textual) - USD ($)	Jun. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014
Amendment No. 3 [Member] | Director [Member] | Roundball LLC [Member]
Convertible Notes Payable, Current	$ 200,000		$ 200,000
Working Capital Funding		$ 467,000
Line of Credit Facility, Current Borrowing Capacity	250,000
Convertible Notes Payable, Current	200,000			$ 200,000
Operating Loss Carryforward, Net of Allowance	$ 0