Daily Journal (DJCO) 10-Q 7 Aug 20 2020 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Jun. 30, 2020	Jul. 31, 2020
Document Information [Line Items]
Entity Central Index Key	0000783412
Entity Registrant Name	DAILY JOURNAL CORPORATION
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2020
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	0-14665
Entity Incorporation, State or Country Code	SC
Entity Tax Identification Number	95-4133299
Entity Address, Address Line One	915 East First Street
Entity Address, City or Town	Los Angeles
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90012-4050
City Area Code	213
Local Phone Number	229-5300
Title of 12(b) Security	Common Stock
Trading Symbol	DJCO
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		1,380,746

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Jun. 30, 2020	Sep. 30, 2019
Current assets
Cash and cash equivalents	$ 9,867,000	$ 10,630,000
Marketable securities at fair value -- common stocks of $153,390,000 at June 30 2020 and $194,581,000 at September 30, 2019	153,390,000	194,581,000
Accounts receivable, less allowance for doubtful accounts of $250,000 at June 30, 2020 and $200,000 at September 30, 2019	9,352,000	7,036,000
Inventories	51,000	40,000
Prepaid expenses and other current assets	700,000	508,000
Income tax receivable	812,000	153,000
Total current assets	174,172,000	212,948,000
Property, plant and equipment, at cost
Land, buildings and improvements	16,599,000	16,499,000
Furniture, office equipment and computer software	2,188,000	2,119,000
Machinery and equipment	1,749,000	1,750,000
Property, Plant and Equipment, Gross, Ending Balance	20,536,000	20,368,000
Less accumulated depreciation	(9,956,000)	(9,572,000)
Property, Plant and Equipment, Net, Ending Balance	10,580,000	10,796,000
Operating lease right-of-use assets	244,000
Deferred income taxes - Federal	11,592,000	12,596,000
Deferred income taxes - State	1,376,000	1,036,000
Total Assets	197,964,000	237,376,000
Current liabilities
Accounts payable	3,458,000	4,520,000
Accrued liabilities	5,730,000	5,173,000
Note payable collateralized by real estate	131,000	126,000
Total current liabilities	29,237,000	30,668,000
Long term liabilities
Investment margin account borrowings	30,493,000	29,493,000
Note payable collateralized by real estate	1,610,000	1,709,000
Deferred maintenance agreements	562,000	335,000
Accrued liabilities	318,000	230,000
Deferred income taxes	25,886,000	37,241,000
Total long term liabilities	58,869,000	69,008,000
Shareholders' equity
Common stock, $.01 par value, 5,000,000 shares authorized; 1,805,053 shares issued, including 424,307 treasury shares, at June 30, 2020 and September 30, 2019	14,000	14,000
Additional paid-in capital	1,755,000	1,755,000
Retained earnings	108,089,000	135,931,000
Total shareholders' equity	109,858,000	137,700,000
Liabilities and Equity, Total	197,964,000	237,376,000
Subscription and Circulation [Member]
Current liabilities
Deferred revenue	3,014,000	3,195,000
Installation Contracts [Member]
Current liabilities
Deferred revenue	483,000	1,932,000
License and Maintenance [Member]
Current liabilities
Deferred revenue	$ 16,421,000	$ 15,722,000

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Jun. 30, 2020	Sep. 30, 2019
Marketable securities	$ 153,390,000	$ 194,581,000
Accounts receivable, allowance for doubtful accounts	$ 250,000	$ 200,000
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	5,000,000	5,000,000
Common stock, shares issued (in shares)	1,805,053	1,805,053
Common stock, treasury shares (in shares)	424,307	424,307
Common Stock [Member]
Marketable securities	$ 153,390,000	$ 194,581,000

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenue
Revenues	$ 12,874,000	$ 14,518,000	$ 36,907,000	$ 35,658,000
Costs and expenses
Salaries and employee benefits	9,662,000	8,715,000	28,227,000	26,161,000
Outside services	586,000	444,000	2,600,000	2,846,000
Postage and delivery expenses	151,000	218,000	552,000	627,000
Newsprint and printing expenses	157,000	186,000	528,000	548,000
Depreciation and amortization	128,000	141,000	384,000	444,000
Equipment maintenance and software	276,000	380,000	1,102,000	1,133,000
Credit card merchant discount fees	244,000	367,000	1,014,000	1,012,000
Rent expenses	158,000	216,000	500,000	731,000
Accounting and legal fees	272,000	499,000	730,000	1,298,000
Other general and administrative expenses	647,000	2,228,000	3,293,000	4,926,000
Operating Expenses, Total	12,281,000	13,394,000	38,930,000	39,726,000
Income (loss) from operations	593,000	1,124,000	(2,023,000)	(4,068,000)
Other income (expense)
Dividends and interest income	1,596,000	1,368,000	4,573,000	4,039,000
Other income		10,000	3,000	29,000
Net unrealized (losses) gains on investments	16,489,000	3,214,000	(41,191,000)	(16,929,000)
(Loss) income before income taxes	18,594,000	5,443,000	(39,102,000)	(17,672,000)
(Provision) benefit for income taxes	(4,320,000)	(1,620,000)	11,260,000	4,980,000
Net (loss) income	$ 14,274,000	$ 3,823,000	$ (27,842,000)	$ (12,692,000)
Weighted average number of common shares outstanding - basic and diluted (in shares)	1,380,746	1,380,746	1,380,746	1,380,746
Basic and diluted net income per share (in dollars per share)	$ 10.34	$ 2.77	$ (20.16)	$ (9.19)
Comprehensive income	$ 14,274,000	$ 3,823,000	$ (27,842,000)	$ (12,692,000)
Real Estate Bank Loan Secured by Logan Office [Member]
Other income (expense)
Interest expense on debt	(20,000)	(22,000)	(63,000)	(67,000)
Margin Account [Member]
Other income (expense)
Interest expense on debt	(64,000)	(251,000)	(401,000)	(676,000)
Advertising [Member]
Revenue
Revenues	1,297,000	2,453,000	5,415,000	6,753,000
Subscription and Circulation [Member]
Revenue
Revenues	1,259,000	1,319,000	3,857,000	3,930,000
Advertising Service Fees and Other [Member]
Revenue
Revenues	575,000	735,000	1,923,000	2,028,000
License and Maintenance [Member]
Revenue
Revenues	5,531,000	5,814,000	16,246,000	15,244,000
Consulting Fees [Member]
Revenue
Revenues	3,147,000	2,627,000	5,065,000	3,567,000
Service, Other [Member]
Revenue
Revenues	$ 1,065,000	$ 1,570,000	$ 4,401,000	$ 4,136,000

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($)	Cumulative Effect, Period of Adoption, Adjustment [Member]Retained Earnings [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]AOCI Attributable to Parent [Member]	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance (in shares) at Sep. 30, 2018			1,805,053	(424,307)
Balance at Sep. 30, 2018	$ 115,786,000	$ (115,786,000)	$ 18,000	$ (4,000)	$ 1,755,000	$ 45,361,000	$ 115,786,000	$ 162,916,000
Net (loss) income						(21,533,000)		(21,533,000)
Balance (in shares) at Dec. 31, 2018			1,805,053	(424,307)
Balance at Dec. 31, 2018			$ 18,000	$ (4,000)	1,755,000	139,614,000		141,383,000
Balance (in shares) at Sep. 30, 2018			1,805,053	(424,307)
Balance at Sep. 30, 2018	$ 115,786,000	$ (115,786,000)	$ 18,000	$ (4,000)	1,755,000	45,361,000	$ 115,786,000	162,916,000
Net (loss) income								(12,692,000)
Balance (in shares) at Jun. 30, 2019			1,805,053	(424,307)
Balance at Jun. 30, 2019			$ 18,000	$ (4,000)	1,755,000	148,455,000		150,224,000
Balance (in shares) at Dec. 31, 2018			1,805,053	(424,307)
Balance at Dec. 31, 2018			$ 18,000	$ (4,000)	1,755,000	139,614,000		141,383,000
Net (loss) income						5,018,000		5,018,000
Balance (in shares) at Mar. 31, 2019			1,805,053	(424,307)
Balance at Mar. 31, 2019			$ 18,000	$ (4,000)	1,755,000	144,632,000		146,401,000
Net (loss) income						3,823,000		3,823,000
Balance (in shares) at Jun. 30, 2019			1,805,053	(424,307)
Balance at Jun. 30, 2019			$ 18,000	$ (4,000)	1,755,000	148,455,000		150,224,000
Balance (in shares) at Sep. 30, 2019			1,805,053	(424,307)
Balance at Sep. 30, 2019			$ 18,000	$ (4,000)	1,755,000	135,931,000		137,700,000
Net (loss) income						14,210,000		14,210,000
Balance (in shares) at Dec. 31, 2019			1,805,053	(424,307)
Balance at Dec. 31, 2019			$ 18,000	$ (4,000)	1,755,000	150,141,000		151,910,000
Balance (in shares) at Sep. 30, 2019			1,805,053	(424,307)
Balance at Sep. 30, 2019			$ 18,000	$ (4,000)	1,755,000	135,931,000		137,700,000
Net (loss) income								(27,842,000)
Balance (in shares) at Jun. 30, 2020			1,805,053	(424,307)
Balance at Jun. 30, 2020			$ 18,000	$ (4,000)	1,755,000	108,089,000		109,858,000
Balance (in shares) at Dec. 31, 2019			1,805,053	(424,307)
Balance at Dec. 31, 2019			$ 18,000	$ (4,000)	1,755,000	150,141,000		151,910,000
Net (loss) income						(56,326,000)		(56,326,000)
Balance (in shares) at Mar. 31, 2020			1,805,053	(424,307)
Balance at Mar. 31, 2020			$ 18,000	$ (4,000)	1,755,000	93,815,000		95,584,000
Net (loss) income						14,274,000		14,274,000
Balance (in shares) at Jun. 30, 2020			1,805,053	(424,307)
Balance at Jun. 30, 2020			$ 18,000	$ (4,000)	$ 1,755,000	$ 108,089,000		$ 109,858,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities
Net (loss) income	$ (27,842,000)	$ (12,692,000)
Adjustments to reconcile net loss to net cash used in operations
Depreciation and amortization	384,000	444,000
Increase in bad debt allowance	50,000
Net unrealized losses on investments	41,191,000	16,929,000
Deferred income taxes	(10,691,000)	(5,087,000)
(Increase) decrease in current assets
Accounts receivable, net	(2,366,000)	(3,741,000)
Inventories	(11,000)	5,000
Prepaid expenses and other assets	(192,000)	278,000
Income tax receivable	(659,000)	134,000
Increase (decrease) in liabilities
Accounts payable	(1,062,000)	1,481,000
Accrued liabilities	401,000	621,000
Net cash used in operating activities	(1,501,000)	(606,000)
Cash flows from investing activities
Purchases of property, plant and equipment	(168,000)	(97,000)
Net cash used in investing activities	(168,000)	(97,000)
Cash flows from financing activities
Proceeds from margin loan borrowing	1,000,000
Payment of real estate loan principal	(94,000)	(90,000)
Net cash provided by (used in) financing activities	906,000	(90,000)
Decrease in cash and cash equivalents	(763,000)	(793,000)
Cash and cash equivalents
Beginning of period	10,630,000	9,301,000
End of period	9,867,000	8,508,000
Interest paid during period	460,000	760,000
Net income taxes paid (refunded)	5,000	(118,000)
Subscription and Circulation [Member]
Increase (decrease) in liabilities
Deferred revenue arrangements	(181,000)	81,000
License and Maintenance [Member]
Increase (decrease) in liabilities
Deferred revenue arrangements	926,000	1,685,000
Installation Contracts [Member]
Increase (decrease) in liabilities
Deferred revenue arrangements	$ (1,449,000)	$ (744,000)

Note 1 - The Corporation and Op

Note 1 - The Corporation and Operations	9 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Note 1 Daily Journal Corporation (the “Company”) publishes newspapers and web sites covering California and Arizona and produces several specialized information services. It also serves as a newspaper representative specializing in public notice advertising. This is sometimes referred to as the Company’s “Traditional Business”. Journal Technologies, Inc. (“Journal Technologies”), a wholly-owned subsidiary of Daily Journal, supplies case management software systems and related products to courts, prosecutor and public defender offices, probation departments and other justice agencies, including administrative law organizations, city and county governments and bar associations. These organizations use the Journal Technologies family of products to help manage cases and information electronically, to interface with other critical justice partners and to extend electronic services to the public, including efiling and a website to pay traffic citations and fees online, and bar members. These products are licensed to more than 500 42 Essentially all of the Company’s U.S. operations are based in California, Arizona, Colorado and Utah. The Company also has a presence in Australia where Journal Technologies is working on two

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation	9 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Basis of Accounting [Text Block]	Note 2 In the opinion of the Company, the accompanying interim unaudited consolidated financial statements contain all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of its financial position as of June 30, 2020, three nine June 30, 2020 2019, nine June 30, 2020 2019 nine June 30, 2020 2019. nine June 30, 2020 not The consolidated financial statements included herein have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not 10 September 30, 2019.

Note 3 - Accounting Standards A

Note 3 - Accounting Standards Adopted in Fiscal 2020	9 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Text Block]	Note 3 2020 In February 2016, 2016 02, Leases (Topic 842 first 2020, not June 30, 2020, not one June 30, 2020, one no

Note 4 - Revenue Recognition

Note 4 - Revenue Recognition	9 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	Note 4 The Company recognizes revenues in accordance with the provisions of ASU No. 2014 09, Revenue from Contracts with Customers (ASC Topic 606 October 1, 2017, Journal Technologies’ contracts may one third not third ASC 606 no not Since the Company recognizes revenues when it can invoice the customer pursuant to the contract for the value of completed performance, as a practical expedient and because reliable estimates cannot be made, it has elected not not no not

Note 5 - Basic and Diluted Inco

Note 5 - Basic and Diluted Income Per Share	9 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Earnings Per Share [Text Block]	Note 5 The Company does not

Note 6 - Investments in Marketa

Note 6 - Investments in Marketable Securities	9 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	Note 6 All investments are classified as “Current assets” because they are available for sale at any time. These “available-for-sale” marketable securities are stated at fair value. The Company uses quoted prices in active markets for identical assets (consistent with the Level 1 820, Fair Value Measurement June 30, 2020 September 30, 2019, three one The Company adopted ASU No. 2016 01, 825 10 three nine June 30, 2020, Investments in marketable securities as of June 30, 2020 September 30, 2019 Investments in Marketable Securities June 30, 2020 September 30, 2019 Aggregate fair value Adjusted cost basis Pretax net unrealized gains Aggregate fair value Amortized/ Adjusted cost basis Pretax unrealized gains Marketable securities Common stocks $ 153,390,000 $ 53,889,000 $ 99,501,000 $ 194,581,000 $ 53,889,000 $ 140,692,000

Note 7 - Income Taxes

Note 7 - Income Taxes	9 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 7 For the nine June 30, 2020, 2020 nine June 30, 2020. nine June 30, 2020. nine June 30, 2020 29%, The CARES Act, which was signed into law on March 27, 2020, two 2018, five 2018. 2019 2014. 2014. 34% 2014 21% 2019. For the nine June 30, 2019, 2019 nine June 30, 2019. The Company’s effective tax rate was 29% for the nine June 30, 2020 The Company files consolidated federal income tax returns in the United States and with various state jurisdictions and is no 2016 2015

Note 8 - Debt and Commitments

Note 8 - Debt and Commitments	9 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Commitments Disclosure [Text Block]	Note 8 During fiscal 2013, two June 30, 2020. ( July 2020.) June 30, 2020 not In 2015, 1998 2030. June 30, 2020. The Company also owns its facilities in Los Angeles and leases space for its other offices under operating leases which expire at various dates through fiscal 2022.

Note 9 - Contingencies

Note 9 - Contingencies	9 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 9 From time to time, the Company is subject to contingencies, including litigation, arising in the normal course of its business. While it is not not

Note 10 - Operating Segments

Note 10 - Operating Segments	9 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	Note 10 The Company’s reportable segments are: (i) the Traditional Business and (ii) Journal Technologies. All inter-segment transactions were eliminated. Summarized financial information regarding the Company’s reportable segments is shown in the following table: Reportable Segments Traditional Business Journal Technologies Corporate income and expenses Total Nine months ended June 30, 2020 Revenues Advertising $ 5,415,000 $ --- $ --- $ 5,415,000 Circulation 3,857,000 --- --- 3,857,000 Advertising service fees and other 1,923,000 --- --- 1,923,000 Licensing and maintenance fees --- 16,246,000 --- 16,246,000 Consulting fees --- 5,065,000 --- 5,065,000 Other public service fees --- 4,401,000 --- 4,401,000 Operating expenses 11,766,000 27,164,000 --- 38,930,000 Loss from operations (571,000 ) (1,452,000 ) --- (2,023,000 ) Dividends and interest income --- --- 4,573,000 4,573,000 Other income --- --- 3,000 3,000 Net unrealized losses on investments --- --- (41,191,000 ) (41,191,000 ) Interest expenses on note payable collateralized by real estate (63,000 ) --- --- (63,000 ) Interest expenses on margin loans and others --- --- (401,000 ) (401,000 ) Pretax loss (634,000 ) (1,452,000 ) (37,016,000 ) (39,102,000 ) Income tax benefit 185,000 380,000 10,695,000 11,260,000 Net income (loss) (449,000 ) (1,072,000 ) (26,321,000 ) (27,842,000 ) Total assets 17,752,000 24,667,000 155,545,000 197,964,000 Capital expenditures 99,000 69,000 --- 168,000 Reportable Segments Traditional Business Journal Technologies Corporate income and expenses Total Nine months ended June 30, 2019 Revenues Advertising $ 6,753,000 $ --- $ --- $ 6,753,000 Circulation 3,930,000 --- --- 3,930,000 Advertising service fees and other 2,028,000 --- --- 2,028,000 Licensing and maintenance fees --- 15,244,000 --- 15,244,000 Consulting fees --- 3,567,000 --- 3,567,000 Other public service fees --- 4,136,000 --- 4,136,000 Operating expenses 12,485,000 27,241,000 --- 39,726,000 Income (loss) from operations 226,000 (4,294,000 ) --- (4,068,000 ) Dividends and interest income --- --- 4,039,000 4,039,000 Other income --- --- 29,000 29,000 Net unrealized losses on investments --- --- (16,929,000 ) (16,929,000 ) Interest expenses on note payable collateralized by real estate (67,000 ) --- --- (67,000 ) Interest expenses on margin loans --- --- (676,000 ) (676,000 ) Pretax income (loss) 159,000 (4,294,000 ) (13,537,000 ) (17,672,000 ) Income tax (expense) benefit (110,000 ) 1,155,000 3,935,000 4,980,000 Net income (loss) 49,000 (3,139,000 ) (9,602,000 ) (12,692,000 ) Total assets 18,276,000 33,903,000 197,576,000 249,755,000 Capital expenditures 63,000 34,000 --- 97,000 Reportable Segments Traditional Business Journal Technologies Corporate income and expenses Total Three months ended June 30, 2020 Revenues Advertising $ 1,297,000 $ --- $ --- $ 1,297,000 Circulation 1,259,000 --- --- 1,259,000 Advertising service fees and other 575,000 --- --- 575,000 Licensing and maintenance fees --- 5,531,000 --- 5,531,000 Consulting fees --- 3,147,000 --- 3,147,000 Other public service fees --- 1,065,000 --- 1,065,000 Operating expenses 3,860,000 8,421,000 --- 12,281,000 Income (loss) from operations (729,000 ) 1,322,000 --- 593,000 Dividends and interest income --- --- 1,596,000 1,596,000 Net unrealized losses on investments --- --- 16,489,000 16,489,000 Interest expenses on note payable collateralized by real estate (20,000 ) --- --- (20,000 ) Interest expenses on margin loans and others --- --- (64,000 ) (64,000 ) Pretax income (loss) (749,000 ) 1,322,000 18,021,000 18,594,000 Income tax benefit (expense) 215,000 (545,000 ) (3,990,000 ) (4,320,000 ) Net (loss) income (534,000 ) 777,000 14,031,000 14,274,000 Total assets 17,752,000 24,667,000 155,545,000 197,964,000 Capital expenditures --- --- --- --- Reportable Segments Traditional Business Journal Technologies Corporate income and expenses Total Three months ended June 30, 2019 Revenues Advertising $ 2,453,000 $ --- $ --- $ 2,453,000 Circulation 1,319,000 --- --- 1,319,000 Advertising service fees and other 735,000 --- --- 735,000 Licensing and maintenance fees --- 5,814,000 --- 5,814,000 Consulting fees --- 2,627,000 --- 2,627,000 Other public service fees --- 1,570,000 --- 1,570,000 Operating expenses 4,137,000 9,257,000 --- 13,394,000 Income from operations 370,000 754,000 --- 1,124,000 Dividends and interest income --- --- 1,368,000 1,368,000 Other income --- --- 10,000 10,000 Net unrealized gains on investments --- --- 3,214,000 3,214,000 Interest expenses on note payable collateralized by real estate (22,000 ) --- --- (22,000 ) Interest expenses on margin loans --- --- (251,000 ) (251,000 ) Pretax income 348,000 754,000 4,341,000 5,443,000 Income tax expense (225,000 ) (145,000 ) (1,250,000 ) (1,620,000 ) Net income 123,000 609,000 3,091,000 3,823,000 Total assets 18,276,000 33,903,000 197,576,000 249,755,000 Capital expenditures 13,000 --- --- 13,000 During the nine June 30, 2020 2019, During the three June 30, 2020 2019, Approximately 76% and 70% of the Company’s revenues during the three nine June 30, 2020 The following table sets forth certain deferred obligations from October 1, 2019 June 30, 2020: Beginning Balance Oct. 1, 2019 Addition Recognized Ending Balance June 30, 2020 Deferred subscriptions $ 3,195,000 $ 3,676,000 $ (3,857,000 ) $ 3,014,000 Deferred installation contracts 1,932,000 4,039,000 (5,488,000 ) 483,000 Deferred maintenance agreements and others 16,057,000 16,749,000 (15,823,000 ) 16,983,000

Note 11 - Subsequent Events

Note 11 - Subsequent Events	9 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Subsequent Events [Text Block]	Note 11 The Company has completed an evaluation of all subsequent events through the issuance date of these financial statements and concluded that no

Note 6 - Investments in Marke_2

Note 6 - Investments in Marketable Securities (Tables)	9 Months Ended
	Jun. 30, 2020
Notes Tables
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]	June 30, 2020 September 30, 2019 Aggregate fair value Adjusted cost basis Pretax net unrealized gains Aggregate fair value Amortized/ Adjusted cost basis Pretax unrealized gains Marketable securities Common stocks $ 153,390,000 $ 53,889,000 $ 99,501,000 $ 194,581,000 $ 53,889,000 $ 140,692,000

Note 10 - Operating Segments (T

Note 10 - Operating Segments (Tables)	9 Months Ended
	Jun. 30, 2020
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Reportable Segments Traditional Business Journal Technologies Corporate income and expenses Total Nine months ended June 30, 2020 Revenues Advertising $ 5,415,000 $ --- $ --- $ 5,415,000 Circulation 3,857,000 --- --- 3,857,000 Advertising service fees and other 1,923,000 --- --- 1,923,000 Licensing and maintenance fees --- 16,246,000 --- 16,246,000 Consulting fees --- 5,065,000 --- 5,065,000 Other public service fees --- 4,401,000 --- 4,401,000 Operating expenses 11,766,000 27,164,000 --- 38,930,000 Loss from operations (571,000 ) (1,452,000 ) --- (2,023,000 ) Dividends and interest income --- --- 4,573,000 4,573,000 Other income --- --- 3,000 3,000 Net unrealized losses on investments --- --- (41,191,000 ) (41,191,000 ) Interest expenses on note payable collateralized by real estate (63,000 ) --- --- (63,000 ) Interest expenses on margin loans and others --- --- (401,000 ) (401,000 ) Pretax loss (634,000 ) (1,452,000 ) (37,016,000 ) (39,102,000 ) Income tax benefit 185,000 380,000 10,695,000 11,260,000 Net income (loss) (449,000 ) (1,072,000 ) (26,321,000 ) (27,842,000 ) Total assets 17,752,000 24,667,000 155,545,000 197,964,000 Capital expenditures 99,000 69,000 --- 168,000 Reportable Segments Traditional Business Journal Technologies Corporate income and expenses Total Nine months ended June 30, 2019 Revenues Advertising $ 6,753,000 $ --- $ --- $ 6,753,000 Circulation 3,930,000 --- --- 3,930,000 Advertising service fees and other 2,028,000 --- --- 2,028,000 Licensing and maintenance fees --- 15,244,000 --- 15,244,000 Consulting fees --- 3,567,000 --- 3,567,000 Other public service fees --- 4,136,000 --- 4,136,000 Operating expenses 12,485,000 27,241,000 --- 39,726,000 Income (loss) from operations 226,000 (4,294,000 ) --- (4,068,000 ) Dividends and interest income --- --- 4,039,000 4,039,000 Other income --- --- 29,000 29,000 Net unrealized losses on investments --- --- (16,929,000 ) (16,929,000 ) Interest expenses on note payable collateralized by real estate (67,000 ) --- --- (67,000 ) Interest expenses on margin loans --- --- (676,000 ) (676,000 ) Pretax income (loss) 159,000 (4,294,000 ) (13,537,000 ) (17,672,000 ) Income tax (expense) benefit (110,000 ) 1,155,000 3,935,000 4,980,000 Net income (loss) 49,000 (3,139,000 ) (9,602,000 ) (12,692,000 ) Total assets 18,276,000 33,903,000 197,576,000 249,755,000 Capital expenditures 63,000 34,000 --- 97,000 Reportable Segments Traditional Business Journal Technologies Corporate income and expenses Total Three months ended June 30, 2020 Revenues Advertising $ 1,297,000 $ --- $ --- $ 1,297,000 Circulation 1,259,000 --- --- 1,259,000 Advertising service fees and other 575,000 --- --- 575,000 Licensing and maintenance fees --- 5,531,000 --- 5,531,000 Consulting fees --- 3,147,000 --- 3,147,000 Other public service fees --- 1,065,000 --- 1,065,000 Operating expenses 3,860,000 8,421,000 --- 12,281,000 Income (loss) from operations (729,000 ) 1,322,000 --- 593,000 Dividends and interest income --- --- 1,596,000 1,596,000 Net unrealized losses on investments --- --- 16,489,000 16,489,000 Interest expenses on note payable collateralized by real estate (20,000 ) --- --- (20,000 ) Interest expenses on margin loans and others --- --- (64,000 ) (64,000 ) Pretax income (loss) (749,000 ) 1,322,000 18,021,000 18,594,000 Income tax benefit (expense) 215,000 (545,000 ) (3,990,000 ) (4,320,000 ) Net (loss) income (534,000 ) 777,000 14,031,000 14,274,000 Total assets 17,752,000 24,667,000 155,545,000 197,964,000 Capital expenditures --- --- --- --- Reportable Segments Traditional Business Journal Technologies Corporate income and expenses Total Three months ended June 30, 2019 Revenues Advertising $ 2,453,000 $ --- $ --- $ 2,453,000 Circulation 1,319,000 --- --- 1,319,000 Advertising service fees and other 735,000 --- --- 735,000 Licensing and maintenance fees --- 5,814,000 --- 5,814,000 Consulting fees --- 2,627,000 --- 2,627,000 Other public service fees --- 1,570,000 --- 1,570,000 Operating expenses 4,137,000 9,257,000 --- 13,394,000 Income from operations 370,000 754,000 --- 1,124,000 Dividends and interest income --- --- 1,368,000 1,368,000 Other income --- --- 10,000 10,000 Net unrealized gains on investments --- --- 3,214,000 3,214,000 Interest expenses on note payable collateralized by real estate (22,000 ) --- --- (22,000 ) Interest expenses on margin loans --- --- (251,000 ) (251,000 ) Pretax income 348,000 754,000 4,341,000 5,443,000 Income tax expense (225,000 ) (145,000 ) (1,250,000 ) (1,620,000 ) Net income 123,000 609,000 3,091,000 3,823,000 Total assets 18,276,000 33,903,000 197,576,000 249,755,000 Capital expenditures 13,000 --- --- 13,000
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]	Beginning Balance Oct. 1, 2019 Addition Recognized Ending Balance June 30, 2020 Deferred subscriptions $ 3,195,000 $ 3,676,000 $ (3,857,000 ) $ 3,014,000 Deferred installation contracts 1,932,000 4,039,000 (5,488,000 ) 483,000 Deferred maintenance agreements and others 16,057,000 16,749,000 (15,823,000 ) 16,983,000

Note 3 - Accounting Standards_2

Note 3 - Accounting Standards Adopted in Fiscal 2020 (Details Textual)	Jun. 30, 2020USD ($)
Operating Lease, Right-of-Use Asset	$ 244,000
Office Lease Obligations Beyond One Year	18,000
Accounting Standards Update 2016-02 [Member]
Operating Lease, Right-of-Use Asset	244,000
Operating Lease, Liability, Total	$ 244,000

Note 6 - Investments in Marke_3

Note 6 - Investments in Marketable Securities (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Sep. 30, 2019
Marketable Securities, Accumulated Unrealized Gain (Loss)	$ 99,501,000		$ 99,501,000		$ 140,692,000
Marketable Securities, Unrealized Gain (Loss), Total	$ 16,489,000	$ 3,214,000	$ (41,191,000)	$ (16,929,000)

Note 6 - Investments in Marke_4

Note 6 - Investments in Marketable Securities - Summary of Investments (Details) - Common Stock [Member] - USD ($)	Jun. 30, 2020	Sep. 30, 2019
Aggregate fair value	$ 153,390,000	$ 194,581,000
Amortized/adjusted cost basis	53,889,000	53,889,000
Pretax net unrealized gains	$ 99,501,000	$ 140,692,000

Note 7 - Income Taxes (Details

Note 7 - Income Taxes (Details Textual) - USD ($)	3 Months Ended		6 Months Ended	9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2020	Jun. 30, 2019
Income Tax Expense (Benefit), Total	$ 4,320,000	$ 1,620,000		$ (11,260,000)	$ (4,980,000)
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest, Total				(39,102,000)	$ (17,672,000)
Income Tax Reconciliation, Tax Credit, CARES Act				187,000
Effective Income Tax Rate Reconciliation, Tax Credit, Investment, Amount				$ 11,166,000
Effective Income Tax Rate Reconciliation, Percent, Total				29.00%	28.00%
Domestic Tax Authority [Member]
Open Tax Year			2016 2017 2018 2019
State and Local Jurisdiction [Member]
Open Tax Year			2015 2016 2017 2018 2019

Note 8 - Debt and Commitments (

Note 8 - Debt and Commitments (Details Textual)	1 Months Ended		3 Months Ended		9 Months Ended		12 Months Ended
	Jul. 31, 2020USD ($)	Nov. 30, 2015USD ($)ft²a	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Sep. 30, 2013USD ($)	Sep. 30, 2019USD ($)
Proceeds from Issuance of Debt					$ 1,000,000
Investment Margin Account			$ 30,493,000		30,493,000			$ 29,493,000
Payments to Acquire Property, Plant, and Equipment, Total				$ 13,000	168,000	$ 97,000
Loans Payable to Bank, Total			1,740,000		1,740,000
UTAH | Building [Member]
Area of Real Estate Property (Square Foot) | ft²		30,700
UTAH | Land [Member]
Area of Land (Acre) | a		3.6
UTAH | Land and Building [Member]
Payments to Acquire Property, Plant, and Equipment, Total		$ 1,240,000
Margin Account [Member]
Proceeds from Issuance of Debt			1,000,000				$ 29,500,000
Investment Margin Account			$ 30,500,000		$ 30,500,000
Margin Account [Member] | Fed Funds Rate [Member]
Debt Instrument, Basis Spread on Variable Rate							0.50%
Debt Instrument, Interest Rate, Effective Percentage			0.75%		0.75%
Margin Account [Member] | Subsequent Event [Member]
Repayments of Debt	$ 1,000,000
Real Estate Bank Loan Secured by Logan Office [Member]
Loans Payable to Bank, Total		$ 2,260,000
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate		4.66%
Debt Instrument, Periodic Payment, Total		$ 17,600

Note 10 - Operating Segments (D

Note 10 - Operating Segments (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenue from Contract with Customer, Including Assessed Tax	$ 12,874,000	$ 14,518,000	$ 36,907,000	$ 35,658,000
Revenue Benchmark [Member] | Product Concentration Risk [Member] | Non-US [Member]
Concentration Risk, Percentage	1.00%	1.00%	1.00%	1.00%
Traditional Business [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 3,131,000	$ 4,507,000	$ 11,195,000	$ 12,711,000
Traditional Business [Member] | Transferred at Point in Time [Member]
Revenue from Contract with Customer, Including Assessed Tax	1,872,000	3,188,000	7,338,000	8,781,000
Traditional Business [Member] | Transferred over Time [Member]
Revenue from Contract with Customer, Including Assessed Tax	1,259,000	1,319,000	3,857,000	3,930,000
Journal Technologies [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 9,743,000	$ 10,011,000	$ 25,712,000	$ 22,947,000
Journal Technologies [Member] | Revenue Benchmark [Member] | Product Concentration Risk [Member]
Concentration Risk, Percentage	76.00%	69.00%	70.00%	64.00%
Journal Technologies [Member] | Transferred at Point in Time [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 4,258,000	$ 4,576,000	$ 9,889,000	$ 8,611,000
Journal Technologies [Member] | Transferred over Time [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 5,485,000	$ 5,435,000	$ 15,823,000	$ 14,336,000

Note 10 - Operating Segments -

Note 10 - Operating Segments - Summarized Financial Information for Reportable Segments (Details) - USD ($)	3 Months Ended						9 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2020	Jun. 30, 2019	Sep. 30, 2019
Revenue from Contract with Customer, Including Assessed Tax	$ 12,874,000			$ 14,518,000			$ 36,907,000	$ 35,658,000
Operating expenses	12,281,000			13,394,000			38,930,000	39,726,000
Loss from operations	593,000			1,124,000			(2,023,000)	(4,068,000)
Dividends and interest income	1,596,000			1,368,000			4,573,000	4,039,000
Other income				10,000			3,000	29,000
Net unrealized losses on investments	16,489,000			3,214,000			(41,191,000)	(16,929,000)
Pretax income (loss)	18,594,000			5,443,000			(39,102,000)	(17,672,000)
Income tax (expense) benefit	(4,320,000)			(1,620,000)			11,260,000	4,980,000
Net income (loss)	14,274,000	$ (56,326,000)	$ 14,210,000	3,823,000	$ 5,018,000	$ (21,533,000)	(27,842,000)	(12,692,000)
Total assets	197,964,000			249,755,000			197,964,000	249,755,000	$ 237,376,000
Payments to Acquire Property, Plant, and Equipment, Total				13,000			168,000	97,000
Real Estate Bank Loan Secured by Logan Office [Member]
Interest expenses on debt	(20,000)			(22,000)			(63,000)	(67,000)
Margin Account [Member]
Interest expenses on debt	(64,000)			(251,000)			(401,000)	(676,000)
Advertising [Member]
Revenue from Contract with Customer, Including Assessed Tax	1,297,000			2,453,000			5,415,000	6,753,000
Subscription and Circulation [Member]
Revenue from Contract with Customer, Including Assessed Tax	1,259,000			1,319,000			3,857,000	3,930,000
Advertising Service Fees and Other [Member]
Revenue from Contract with Customer, Including Assessed Tax	575,000			735,000			1,923,000	2,028,000
License and Maintenance [Member]
Revenue from Contract with Customer, Including Assessed Tax	5,531,000			5,814,000			16,246,000	15,244,000
Consulting Fees [Member]
Revenue from Contract with Customer, Including Assessed Tax	3,147,000			2,627,000			5,065,000	3,567,000
Service, Other [Member]
Revenue from Contract with Customer, Including Assessed Tax	1,065,000			1,570,000			4,401,000	4,136,000
Traditional Business [Member]
Revenue from Contract with Customer, Including Assessed Tax	3,131,000			4,507,000			11,195,000	12,711,000
Journal Technologies [Member]
Revenue from Contract with Customer, Including Assessed Tax	9,743,000			10,011,000			25,712,000	22,947,000
Operating Segments [Member] | Traditional Business [Member]
Operating expenses	3,860,000			4,137,000			11,766,000	12,485,000
Loss from operations	(729,000)			370,000			(571,000)	226,000
Pretax income (loss)	(749,000)			348,000			(634,000)	159,000
Income tax (expense) benefit	215,000			(225,000)			185,000	(110,000)
Net income (loss)	(534,000)			123,000			(449,000)	49,000
Total assets	17,752,000			18,276,000			17,752,000	18,276,000
Payments to Acquire Property, Plant, and Equipment, Total				13,000			99,000	63,000
Operating Segments [Member] | Traditional Business [Member] | Real Estate Bank Loan Secured by Logan Office [Member]
Interest expenses on debt	(20,000)			(22,000)			(63,000)	(67,000)
Operating Segments [Member] | Traditional Business [Member] | Advertising [Member]
Revenue from Contract with Customer, Including Assessed Tax	1,297,000			2,453,000			5,415,000	6,753,000
Operating Segments [Member] | Traditional Business [Member] | Subscription and Circulation [Member]
Revenue from Contract with Customer, Including Assessed Tax	1,259,000			1,319,000			3,857,000	3,930,000
Operating Segments [Member] | Traditional Business [Member] | Advertising Service Fees and Other [Member]
Revenue from Contract with Customer, Including Assessed Tax	575,000			735,000			1,923,000	2,028,000
Operating Segments [Member] | Journal Technologies [Member]
Operating expenses	8,421,000			9,257,000			27,164,000	27,241,000
Loss from operations	1,322,000			754,000			(1,452,000)	(4,294,000)
Pretax income (loss)	1,322,000			754,000			(1,452,000)	(4,294,000)
Income tax (expense) benefit	(545,000)			(145,000)			380,000	1,155,000
Net income (loss)	777,000			609,000			(1,072,000)	(3,139,000)
Total assets	24,667,000			33,903,000			24,667,000	33,903,000
Payments to Acquire Property, Plant, and Equipment, Total							69,000	34,000
Operating Segments [Member] | Journal Technologies [Member] | License and Maintenance [Member]
Revenue from Contract with Customer, Including Assessed Tax	5,531,000			5,814,000			16,246,000	15,244,000
Operating Segments [Member] | Journal Technologies [Member] | Consulting Fees [Member]
Revenue from Contract with Customer, Including Assessed Tax	3,147,000			2,627,000			5,065,000	3,567,000
Operating Segments [Member] | Journal Technologies [Member] | Service, Other [Member]
Revenue from Contract with Customer, Including Assessed Tax	1,065,000			1,570,000			4,401,000	4,136,000
Corporate, Non-Segment [Member]
Dividends and interest income	1,596,000			1,368,000			4,573,000	4,039,000
Other income				10,000			3,000	29,000
Net unrealized losses on investments	16,489,000			3,214,000			(41,191,000)	(16,929,000)
Pretax income (loss)	18,021,000			4,341,000			(37,016,000)	(13,537,000)
Income tax (expense) benefit	(3,990,000)			(1,250,000)			10,695,000	3,935,000
Net income (loss)	14,031,000			3,091,000			(26,321,000)	(9,602,000)
Total assets	155,545,000			197,576,000			155,545,000	197,576,000
Corporate, Non-Segment [Member] | Margin Account [Member]
Interest expenses on debt	$ (64,000)			$ (251,000)			$ (401,000)	$ (676,000)

Note 10 - Operating Segments _2

Note 10 - Operating Segments - Deferred Revenue Obligations (Details)	9 Months Ended
	Jun. 30, 2020USD ($)
Subscription and Circulation [Member]
Deferred revenue	$ 3,195,000
Deferred Revenue, Additions	3,676,000
Deferred Revenue, Revenue Recognized	(3,857,000)
Deferred revenue	3,014,000
Installation Contracts [Member]
Deferred revenue	1,932,000
Deferred Revenue, Additions	4,039,000
Deferred Revenue, Revenue Recognized	(5,488,000)
Deferred revenue	483,000
License and Maintenance [Member]
Deferred revenue	16,057,000
Deferred Revenue, Additions	16,749,000
Deferred Revenue, Revenue Recognized	(15,823,000)
Deferred revenue	$ 16,983,000