 |
v2.4.0.6
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INCOME TAXES (Tables)
|
12 Months Ended |
|
Sep. 30, 2012
|
| Income Tax Disclosure [Abstract] |
|
| Schedule of Deferred Tax Assets and Liabilities [Table Text Block] |
The tax effects of temporary differences giving rise to the Company's deferred tax assets are as follows as of September 30:
| |
|
2012 |
|
|
2011 |
|
| Bad debt allowances |
|
$ |
221,329 |
|
|
$ |
199,978 |
|
| Litigation reserve and other reserves |
|
|
(4,967 |
) |
|
|
(2,992 |
) |
| Equity method investment loss |
|
|
(91,957 |
) |
|
|
120,998 |
|
| Capital loss carry-forwards |
|
|
4,686,164 |
|
|
|
4,348,004 |
|
| Operating loss carryovers |
|
|
7,665,365 |
|
|
|
6,311,312 |
|
| Valuation allowance |
|
|
(12,475,934 |
) |
|
|
(10,977,300 |
) |
| Net deferred tax assets |
|
$ |
- |
|
|
$ |
- |
|
|
| Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] |
A reconciliation of the Company’s income tax provision (benefit) computed at the statutory U.S. Federal rate and the actual tax provision is as follows for the years ended September 30:
| |
|
2012 |
|
|
2011 |
|
| Income tax (benefit) provision at U.S Federal statutory rate |
|
$ |
(1,458,451 |
) |
|
$ |
(1,136,472 |
) |
| Foreign losses taxed at rates other than 37.63% |
|
|
564,325 |
|
|
|
372,551 |
|
| Permanent differences |
|
|
12,480 |
|
|
|
26,191 |
|
| Increase (decrease) in penalties and interest on delinquent tax returns |
|
|
330 |
|
|
|
(80,000 |
) |
| Increase (decrease) in valuation allowance, net of foreign currency adjustments |
|
|
881,646 |
|
|
|
737,730 |
|
| Tax provision (benefit) |
|
$ |
330 |
|
|
$ |
(80,000 |
) |
|
| Summary of Operating Loss Carryforwards [Table Text Block] |
The following table summarizes the amount and expiration dates of our operating loss carryovers as of September 30, 2012:
| |
|
Expiration Dates |
|
|
Amounts |
|
| U.S. federal and state net operating loss carryovers |
|
|
2022-2032 |
|
|
$ |
14,773,143 |
|
| Non-U.S. net operating loss carryovers |
|
|
2017-2021 |
|
|
|
10,531,155 |
|
| Total |
|
|
|
|
|
$ |
25,304,298 |
|
|
| Capital Loss Credit Carryovers Expire [Table Text Block] |
Also as of September 30, 2012, the Company has capital loss carryovers available to offset future US Federal and state income taxes. These capital loss credit carryovers expire as follows:
| Year Generated |
|
Year of Expiration |
|
Amount |
|
| |
|
|
|
|
|
|
| 2009 |
|
2014 |
|
$ |
4,113,997 |
|
| 2010 |
|
2015 |
|
|
8,339,270 |
|
| |
|
|
|
$ |
12,453,267 |
|
|
| X |
- Definition
Tabular disclosure of capital loss carryover expiration date during the period.
+ References+ Details
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| Namespace Prefix: |
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| Data Type: |
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| Balance Type: |
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| Period Type: |
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|
| X |
- Definition
Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319
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| X |
- Definition
Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319
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| X |
- Definition
Tabular disclosure of pertinent information, such as tax authority, amounts, and expiration dates, of net operating loss carryforwards, including an assessment of the likelihood of utilization.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 48
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319
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|
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