Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Dec. 31, 2021 | Feb. 01, 2022 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001045942 | |
Entity Registrant Name | Track Group, Inc. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --09-30 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2022 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Dec. 31, 2021 | |
Document Transition Report | false | |
Entity File Number | 0-23153 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 87-0543981 | |
Entity Address, Address Line One | 200 E. 5th Avenue Suite 100 | |
Entity Address, City or Town | Naperville | |
Entity Address, State or Province | IL | |
Entity Address, Postal Zip Code | 60563 | |
City Area Code | 877 | |
Local Phone Number | 260-2010 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 11,541,452 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Dec. 31, 2021 | Sep. 30, 2021 |
Current assets: | ||
Cash | $ 8,599,296 | $ 8,421,162 |
Accounts receivable, net of allowance for doubtful accounts of $43,359 and $91,262, respectively | 6,490,046 | 7,163,615 |
Prepaid expense and deposits | 1,040,711 | 998,589 |
Inventory, net of reserves of $0 and $0, respectively | 647,070 | 305,210 |
Total current assets | 16,777,123 | 16,888,576 |
Property and equipment, net | 198,689 | 202,226 |
Intangible assets, net of accumulated amortization of $18,453,714 and $17,607,457, respectively | 19,685,985 | 20,434,143 |
Goodwill | 8,658,772 | 8,519,998 |
Deferred tax asset | 0 | 101,159 |
Other assets | 4,131,835 | 4,309,040 |
Total assets | 52,472,860 | 53,523,242 |
Current liabilities: | ||
Accounts payable | 2,619,448 | 2,821,982 |
Accrued liabilities | 3,961,682 | 4,350,030 |
Current portion of long-term debt | 502,463 | 526,134 |
Total current liabilities | 7,083,593 | 7,698,146 |
Long-term debt, net of current portion | 43,309,260 | 43,452,216 |
Long-term liabilities | 31,463 | 3,650 |
Total liabilities | 50,424,316 | 51,154,012 |
Commitments and contingencies (Notes 16 and 23) | ||
Stockholders’ equity: | ||
Common stock, $0.0001 par value: 30,000,000 shares authorized; 11,541,452 and 11,524,978 shares outstanding, respectively | 1,154 | 1,152 |
Paid in capital | 302,258,446 | 302,250,954 |
Accumulated deficit | (299,133,849) | (298,828,527) |
Accumulated other comprehensive loss | (1,077,207) | (1,054,349) |
Total equity | 2,048,544 | 2,369,230 |
Total liabilities and stockholders’ equity | 52,472,860 | 53,523,242 |
Series A Convertible Preferred Stock [Member] | ||
Stockholders’ equity: | ||
Series A Convertible Preferred stock, $0.0001 par value: 1,200,000 shares authorized; 0 shares outstanding | 0 | 0 |
Property, Plant, and Equipment, Excluding Monitoring Equipment [Member] | ||
Current assets: | ||
Property and equipment, net | 198,689 | 202,226 |
Monitoring Equipment [Member] | ||
Current assets: | ||
Property and equipment, net | $ 3,020,456 | $ 3,068,100 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) | Dec. 31, 2021 | Sep. 30, 2021 |
Allowance for doubtful accounts, accounts receivable | $ 43,359 | $ 91,262 |
Reserve for inventory | 0 | 0 |
Intangible assets, accumulated amortization | $ 18,453,714 | $ 17,607,457 |
Common stock - par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock - shares authorized (in shares) | 30,000,000 | 30,000,000 |
Common stock - shares outstanding (in shares) | 11,541,452 | 11,524,978 |
Series A Convertible Preferred Stock - par value (in dollars per share) | $ 0.0001 | |
Series A Convertible Preferred Stock - shares authorized (in shares) | 20,000,000 | |
Series A Convertible Preferred Stock - shares outstanding (in shares) | 0 | |
Series A Convertible Preferred Stock [Member] | ||
Series A Convertible Preferred Stock - par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Series A Convertible Preferred Stock - shares authorized (in shares) | 1,200,000 | 1,200,000 |
Series A Convertible Preferred Stock - shares outstanding (in shares) | 0 | 0 |
Property, Plant, and Equipment, Excluding Monitoring Equipment [Member] | ||
Property and equipment, accumulated depreciation | $ 2,601,242 | $ 2,615,967 |
Monitoring Equipment [Member] | ||
Property and equipment, accumulated depreciation | $ 6,153,405 | $ 5,977,093 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($) | 3 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Revenue: | ||
Revenues | $ 9,595,656 | $ 9,401,905 |
Cost of revenue: | ||
Monitoring, products and other related services | 3,931,578 | 3,700,426 |
Depreciation & amortization included in cost of revenue | 863,849 | 488,675 |
Total cost of revenue | 4,795,427 | 4,189,101 |
Gross profit | 4,800,229 | 5,212,804 |
Operating expense: | ||
General & administrative | 2,498,359 | 2,400,735 |
Selling & marketing | 697,872 | 550,457 |
Research & development | 590,852 | 307,294 |
Depreciation & amortization | 416,801 | 531,763 |
Total operating expense | 4,203,884 | 3,790,249 |
Operating income | 596,345 | 1,422,555 |
Other income (expense): | ||
Interest expense, net | (481,560) | (640,022) |
Currency exchange rate gain (loss) | (106,278) | 818,626 |
Other income (loss) | 0 | 26 |
Total other income (expense) | (587,838) | 178,630 |
Income before income taxes | 8,507 | 1,601,185 |
Income tax expense | 313,829 | 277,691 |
Net income (loss) attributable to common stockholders | (305,322) | 1,323,494 |
Foreign currency translation adjustments | (22,858) | 317,835 |
Comprehensive income (loss) | $ (328,180) | $ 1,641,329 |
Net income (loss) per share – basic and diluted | ||
Net income (loss) per common share, basic and diluted (in dollars per share) | $ (0.03) | $ 0.12 |
Weighted average common shares outstanding, basic and diluted (in shares) | 11,525,315 | 11,414,150 |
Monitoring and Other Related Services [Member] | ||
Revenue: | ||
Revenues | $ 9,469,729 | $ 9,271,729 |
Product Sales and Other [Member] | ||
Revenue: | ||
Revenues | $ 125,927 | $ 130,176 |
Condensed Consolidated Statem_2
Condensed Consolidated Statement of Changes in Stockholders' Equity (Deficit) (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Sep. 30, 2020 | 11,414,150 | ||||
Balance at Sep. 30, 2020 | $ 1,141 | $ 302,270,242 | $ (302,270,933) | $ (921,073) | $ (920,623) |
Foreign currency translation adjustments | 0 | 0 | 0 | 317,835 | 317,835 |
Net loss | $ 0 | 0 | 1,323,494 | 0 | 1,323,494 |
Balance (in shares) at Dec. 31, 2020 | 11,414,150 | ||||
Balance at Dec. 31, 2020 | $ 1,141 | 302,270,242 | (300,947,439) | (603,238) | 720,706 |
Balance (in shares) at Sep. 30, 2021 | 11,524,978 | ||||
Balance at Sep. 30, 2021 | $ 1,152 | 302,250,954 | (298,828,527) | (1,054,349) | 2,369,230 |
Issuance of Common Stock for options/warrants exercised (in shares) | 16,474 | ||||
Issuance of Common Stock for options/warrants exercised | $ 2 | (2) | 0 | 0 | 0 |
Cash received for options/warrants exercised | 0 | 10,570 | 0 | 0 | 10,570 |
Tax withheld on issuance of Common Stock | 0 | (3,076) | 0 | 0 | (3,076) |
Foreign currency translation adjustments | 0 | 0 | 0 | (22,858) | (22,858) |
Net loss | $ 0 | 0 | (305,322) | 0 | (305,322) |
Balance (in shares) at Dec. 31, 2021 | 11,541,452 | ||||
Balance at Dec. 31, 2021 | $ 1,154 | $ 302,258,446 | $ (299,133,849) | $ (1,077,207) | $ 2,048,544 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Cash flows from operating activities: | ||
Net income (loss) | $ (305,322) | $ 1,323,494 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
Depreciation and amortization | 1,280,650 | 1,020,438 |
Bad debt recovery | (100,286) | (16,986) |
Loss on monitoring equipment included in cost of revenue | 99,297 | 110,123 |
Amortization of debt issuance costs | 35,275 | 0 |
Amortization of monitoring center assets included in cost of revenue | 75,947 | 0 |
Foreign currency exchange (gain)/loss | 106,278 | (818,626) |
Change in assets and liabilities: | ||
Accounts receivable, net | 688,994 | (759,838) |
Inventories | 0 | 4,200 |
Prepaid expense, deposits, deferred tax assets and other assets | (82,817) | (125,864) |
Accounts payable | (195,522) | (379,272) |
Accrued liabilities | (320,857) | 224,333 |
Net cash provided by operating activities | 1,281,637 | 582,002 |
Cash flow from investing activities: | ||
Purchase of property and equipment | (35,903) | (81,183) |
Capitalized software | (88,607) | (397,402) |
Purchase of monitoring equipment and parts | (751,030) | (1,054,807) |
Net cash used in investing activities | (875,540) | (1,533,392) |
Cash flow from financing activities: | ||
Payment of deferred financing fees | 0 | (89,286) |
Principal payments on long-term debt | (125,356) | 0 |
Employee tax withholdings related to net share settlement of equity-based awards | 3,076 | 0 |
Proceeds from exercise of employee stock options | 10,570 | 0 |
Net cash used in financing activities | (117,862) | (89,286) |
Effect of exchange rate changes on cash | (110,101) | 141,019 |
Net increase (decrease) in cash | 178,134 | (899,657) |
Cash, beginning of period | 8,421,162 | 6,762,099 |
Cash, end of period | 8,599,296 | 5,862,442 |
Cash paid for interest | 62,323 | 2,629 |
Cash paid for taxes | $ 236,785 | $ 236,033 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 3 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] | ( 1 The unaudited interim condensed consolidated financial information of Track Group, Inc. and subsidiaries (collectively, the “ Company Track Group 10 8 X SEC GAAP December 31, 2021, three December 31, 2021. 10 September 30, 2021, December 16, 2021. three December 31, 2021 may not September 30, 2022. As of December 31, 2021 September 30, 2021, three December 31, 2021 2020, may December 31, 2021, July 2024 six January 2, 2024 February 17, 2025 two 19 July 1, 2024. twelve |
Note 2 - Principles of Consolid
Note 2 - Principles of Consolidation | 3 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | ( 2 The consolidated financial statements include the accounts of Track Group, Inc. and its active subsidiaries, Track Group Analytics Limited, Track Group Americas, Inc., Track Group International LTD., and Track Group - Chile SpA. All significant inter-company transactions have been eliminated in consolidation. |
Note 3 - Recent Accounting Stan
Note 3 - Recent Accounting Standards | 3 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | ( 3 From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“ FASB Recently Issued Accounting Standards In January 2017, 2017 04, Intangibles Goodwill and Other: Simplifying the Test for Goodwill Impairment second two December 15, 2019 December 15, 2022. January 1, 2017. not In June 2016, 2016 13, Measurement of Credit Losses on Financial Instruments 2016 13 CECL 2016 13 December 15, 2019, December 15, 2022. 2016 13 2023. not |
Note 4 - Impairment of Long-liv
Note 4 - Impairment of Long-lived Assets | 3 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Details of Impairment of Long-Lived Assets Held and Used by Asset [Table Text Block] | ( 4 The Company reviews its long-lived assets for impairment when events or changes in circumstances indicate that the book value of an asset may not |
Note 5 - Business Combinations
Note 5 - Business Combinations | 3 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | ( 5 The Company accounts for its business acquisitions under the acquisition method of accounting as indicated in ASC 805, Business Combinations 805, Acquired Assets and Assumed Liabilities Pursuant to ASC No. 805 10 25, not one Contingent Consideration In certain acquisitions, the Company has agreed to pay additional amounts to the seller contingent upon achievement by the acquired businesses of certain future goals, which may |
Note 6 - Accumulated Other Comp
Note 6 - Accumulated Other Comprehensive Income (Loss) | 3 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | ( 6 Comprehensive income (loss) includes net income (loss) as currently reported under GAAP and other comprehensive income (loss). Other comprehensive income (loss) considers the effects of additional economic events, such as foreign currency translation adjustments, that are not December 31, 2021. |
Note 7 - Net Income (Loss) per
Note 7 - Net Income (Loss) per Common Share | 3 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | ( 7 Basic net income (loss) per common share (“ Basic EPS Diluted net income (loss) per common share (“ Diluted EPS not Common share equivalents consist of shares issuable upon the exercise of common stock options and warrants. As of December 31, 2021 2020, not three December 31, 2021 2020, At December 31, 2021, December 31, 2020, not The common stock equivalents outstanding as of December 31, 2021 2020 December 31, December 31, 2021 2020 Exercisable common stock options and warrants 430,511 685,259 Total common stock equivalents 430,511 685,259 |
Note 8 - Revenue Recognition
Note 8 - Revenue Recognition | 3 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | ( 8 Monitoring and Other Related Services. two December 31, 2021, September 30, 2021 October 1, 2020 December 31, 2021, September 30, 2021 October 1, 2020 three December 31, 2021 December 31, 2020, Product Sales and Other. 30 Multiple Element Arrangements. not may may The standalone selling price for each performance obligation is an amount that depicts the amount of consideration to which the entity expects to be entitled in exchange for transferring the good or service. When there is only one first not The following table presents the Company’s revenue by geography, based on management’s assessment of available data: Three Months Ended December 31, 2021 Three Months Ended December 31, 2020 Total Revenue % of Total Revenue Total Revenue % of Total Revenue United States $ 6,907,260 72 % $ 6,797,758 72 % Latin America 2,551,722 27 % 2,506,412 27 % Other 136,674 1 % 97,735 1 % Total $ 9,595,656 100 % $ 9,401,905 100 % The above table includes total revenue for the Company, of which monitoring and other related services is the majority (approximately 99% for the three December 31, 2021, 2020 three December 31, 2021, three December 31, 2020. |
Note 9 - Prepaid Expense and De
Note 9 - Prepaid Expense and Deposits | 3 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Deferred Costs, Capitalized, Prepaid, and Other Assets [Text Block] | ( 9 As of December 31, 2021, September 30, 2021, |
Note 10 - Inventory
Note 10 - Inventory | 3 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | ( 10 Inventory is valued at the lower of the cost or net realizable value. Cost is determined using the standard costing method. Net realizable value is determined based on the item selling price. Inventory is periodically reviewed in order to identify obsolete or damaged items or impaired values. Inventory consists of printed circuit boards and other parts used in the assembly of monitoring equipment and for minor repairs of ReliAlert®, and other tracking devices. Completed and shipped ReliAlert® and other tracking devices are reflected in Monitoring Equipment. As of December 31, 2021 September 30, 2021, December 31, 2021 September 30, 2021 Finished goods inventory $ 647,070 $ 305,210 Reserve for damaged or obsolete inventory - - Total inventory, net of reserves $ 647,070 $ 305,210 The Company uses a third not three December 31, 2021 2020, |
Note 11 - Property and Equipmen
Note 11 - Property and Equipment | 3 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | ( 11 Property and equipment consisted of the following as of December 31, 2021 September 30, 2021: December 31, 2021 September 30, 2021 Equipment, software and tooling $ 1,363,524 $ 1,332,379 Automobiles 4,757 5,034 Leasehold improvements 1,218,469 1,268,486 Furniture and fixtures 213,181 212,294 Total property and equipment 2,799,931 2,818,193 Accumulated depreciation (2,601,242 ) (2,615,967 ) Property and equipment, net of accumulated depreciation $ 198,689 $ 202,226 Property and equipment depreciation expense for the three December 31, 2021 2020 |
Note 12 - Monitoring Equipment
Note 12 - Monitoring Equipment | 3 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Monitoring Equipment Disclosure [Text Block] | ( 12 The Company leases monitoring equipment to agencies for offender tracking under contractual service agreements. The monitoring equipment is amortized using the straight-line method over an estimated useful life of between one five December 31, 2021 September 30, 2021 December 31, 2021 September 30, 2021 Monitoring equipment $ 9,173,861 $ 9,045,193 Less: Accumulated depreciation (6,153,405 ) (5,977,093 ) Monitoring equipment, net of accumulated depreciation $ 3,020,456 $ 3,068,100 Depreciation of monitoring equipment for the three December 31, 2021 2020 three December 31, 2021 2020, |
Note 13 - Intangible Assets
Note 13 - Intangible Assets | 3 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | ( 13 The following table summarizes intangible assets at December 31, 2021 September 30, 2021, December 31, 2021 September 30, 2021 Patent & royalty agreements $ 21,120,565 $ 21,120,565 Developed technology 15,017,631 14,919,562 Customer relationships 1,860,000 1,860,000 Trade name 141,503 141,473 Total intangible assets 38,139,699 38,041,600 Accumulated amortization (18,453,714 ) (17,607,457 ) Intangible assets, net of accumulated amortization $ 19,685,985 $ 20,434,143 The intangible assets summarized above were purchased or developed on various dates from July 2011 December 31, 2021. three December 31, 2021 2020 |
Note 14 - Goodwill
Note 14 - Goodwill | 3 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Goodwill Disclosure [Text Block] | ( 14 The following table summarizes the activity of goodwill at December 31, 2021 September 30, 2021, December 31, 2021 September 30, 2021 Balance - beginning of year $ 8,519,998 $ 8,220,380 Effect of foreign currency translation on goodwill 138,774 299,618 Balance - end of year $ 8,658,772 $ 8,519,998 Goodwill is recognized in connection with acquisition transactions in accordance with ASC 805. December 31, 2021. |
Note 15 - Other Assets
Note 15 - Other Assets | 3 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Schedule of Other Assets, Noncurrent [Table Text Block] | ( 15 As of December 31, 2021 September 30, 2021, December 31, 2021 23. The Company is contractually obligated to construct and equip two two December 31, 2021, June 2021 June 2021. three December 31, 2021 19 |
Note 16 - Leases
Note 16 - Leases | 3 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | ( 16 The following table shows right of use assets and lease liabilities and the associated financial statement line items as of December 31, 2021 September 30, 2021. December 31, 2021 September 30, 2021 Operating lease asset Operating lease liability Operating lease asset Operating lease liability Other assets $ 174,322 $ - $ 165,963 $ - Accrued liabilities 142,859 - 162,313 Long-term liabilities 31,463 - 3,650 The following table summarizes the supplemental cash flow information for the three December 31, 2021 2020: December 31, 2021 December 31, 2020 Cash paid for noncancelable operating leases included in operating cash flows $ 67,276 $ 75,890 Right of use assets obtained in exchange for operating lease liabilities $ 78,458 $ - The future minimum lease payments under noncancelable operating leases with terms greater than one December 31, 2021 Operating Leases From January 2022 to December 2022 147,554 From January 2023 to December 2023 31,862 From January 2024 to December 2024 57 Undiscounted cash flow 179,473 Less: imputed interest (5,151 ) Total $ 174,322 Reconciliation to lease liabilities: Lease liabilities - current $ 142,859 Lease liabilities - long-term 31,463 Total lease liabilities $ 174,322 The weighted-average remaining lease term and discount rate related to the Company’s lease liabilities as of December 31, 2021 |
Note 17 - Accrued Liabilities
Note 17 - Accrued Liabilities | 3 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | ( 17 Accrued liabilities consisted of the following as of December 31, 2021 September 30, 2021 : December 31, 2021 September 30, 2021 Accrued payroll, taxes and employee benefits $ 1,481,626 $ 2,279,454 Deferred revenue 96,790 22,500 Accrued taxes - foreign and domestic 107,861 23,022 Accrued other expense 89,401 236,386 Accrued legal and other professional costs 736,339 738,306 Accrued costs of revenue 282,021 248,963 Right of use liability 142,859 162,313 Deferred financing fees 88,685 180,000 Deferred tax liability 55,894 - Accrued interest 880,206 459,086 Total accrued liabilities $ 3,961,682 $ 4,350,030 |
Note 18 - Related Parties
Note 18 - Related Parties | 3 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | ( 18 ETS Limited is currently the beneficial owner of 4,871,745 shares of the Company's Common Stock (“ Track Group Shares ADS September 28, 2017 February 7, 2018 |
Note 19 - Debt Obligations
Note 19 - Debt Obligations | 3 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | ( 19 Debt obligations, net of debt issuance costs, as of December 31, 2021 September 30, 2021, December 31, 2021 September 30, 2021 The unsecured loan (the “ Amended Facility Agreement Conrent 42,864,000 300,501 4% 581,045 $ 42,563,499 $ 42,533,449 Note Payable Agreement with HP Financial Services Chile Limitada bearing interest at a rate of 6.56% 59,940 70,176 Note Payable Agreement with Banco Santander, net of unamortized issuance costs of $ 18,701 5.04% 286,556 332,354 Note Payable Agreement with Banco Estado, net of unamortized issuance costs of $ 13,170 3.50% 237,258 279,869 Note Payable Agreement with HP Financial Services Chile Limitada bearing interest at a rate of 6.61% 132,036 153,984 Note Payable Agreement with Banco de Chile, net of unamortized issuance costs of $ 275 2.54% 86,564 101,447 Note Payable Agreement with Banco de Chile, net of unamortized issuance costs of $ 25,766 3.12% 445,870 507,071 Total debt obligations 43,811,723 43,978,350 Less: current portion (502,463 ) (526,134 ) Long-term debt, less current portion $ 43,309,260 $ 43,452,216 On October 21, 2020, November 25, 2020, Noteholders July 1, 2024. December 21, 2020, July 1, 2024 (“ Amended Facility March 1, 2021, June 30 December 31 June 30, 2021. July 1, 2021. December 31, 2021, January 5, 2022. On January 6, 2021, CLP $101,186USD February 2021, February 6, 2024. On January 12, 2021, CLP $482,965USD CLP $3,897USD February 2021, May 11, 2024. CLP $27,275USD On February 2, 2021, CLP $338,954USD CLP $2,734USD 6 first 6 1 August 2, 2021, January 2, 2024. CLP $19,304USD On February 4, 2021, CLP $205,330USD March 2021, March 4, 2024. On February 5, 2021, CLP $136,564USD CLP $286USD March 2021, March 4, 2024. On February 15, 2021, CLP $678,214USD March 2021, February 17, 2025. CLP $38,317USD The following table summarizes our future maturities of debt obligations, net of the amortization of debt discounts as of December 31, 2021: Twelve months ended December 31: Total 2022 $ 502,463 2023 533,390 2024 43,108,267 2025 26,016 Total 44,170,136 Issuance costs (358,413 ) Debt obligations, net of unamortized issuance costs $ 43,811,723 |
Note 20 - Preferred and Common
Note 20 - Preferred and Common Stock | 3 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Preferred and Common Stock Disclosure [Text Block] | ( 20 The Company is authorized to issue up to 30,000,000 shares of common stock, $0.0001 par value per share. The Company is authorized to issue up to 20,000,000 shares of preferred stock, $0.0001 par value per share. The Company’s Board of Directors has the authority to amend the Company’s Certificate of Incorporation, without further stockholder approval, to designate and determine, in whole or in part, the preferences, limitations and relative rights of the preferred stock before any issuance of the preferred stock, and to create one December 31, 2021, No dividends were paid during the three December 31, 2021 2020, Series A Convertible Preferred Stock On October 12, 2017, Certificate of Designation not Except with respect to transactions upon which holders of the Series A Preferred are entitled to vote separately as a class under the terms of the Certificate of Designation, the Series A Preferred has no The Series A Preferred has no one Each share of Series A Preferred has a Liquidation Preference of $35.00 per share, and is convertible, at the holder’s option, into ten five hundred forty As of December 31, 2021, |
Note 21 - Stock Options and War
Note 21 - Stock Options and Warrants | 3 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | ( 21 Stock Incentive Plan At the annual meeting of stockholders on March 21, 2011, 2012 2012 2012 2012 2015 May 19, 2015, 2012 two three As of June 30, 2020, 2012 three December 31, 2021 2020, 2012 There were 27,218 shares of common stock available for issuance under the 2012 December 31, 2021. All Options and Warrants The fair value of each stock option and warrant grant is estimated on the date of grant using the Black-Scholes option-pricing model. Warrants for Board members vest immediately and expire five two three five three December 31, 2021 2020, three December 31, 2021 2020, 2012 All options and warrants have vested and are exercisable at December 31, 2021 2012 The expected life of stock options (warrants) represents the period of time that the stock options or warrants are expected to be outstanding based on the simplified method allowed under GAAP. The expected volatility is based on the historical price volatility of the Company’s common stock. The risk-free interest rate represents the U.S. Treasury bill rate for the expected life of the related stock options (warrants). The dividend yield represents the Company’s anticipated cash dividends over the expected life of the stock options (warrants). A summary of stock option (warrant) activity for the three December 31, 2021 Shares Under Option Weighted Average Exercise Price Weighted Average Remaining Contractual Life (years) Aggregate Intrinsic Value Outstanding as of September 30, 2021 457,075 $ 1.74 1.04 $ 779,977 Granted - - Expired/Cancelled - - Exercised (26,564 ) 1.21 Outstanding as of December 31, 2021 430,511 $ 1.77 0.83 $ 433,229 Exercisable as of December 31, 2021 430,511 $ 1.77 0.83 $ 433,229 The intrinsic value of options and warrants outstanding and exercisable is based on the Company’s share price of $2.28 at December 31, 2021. |
Note 22 - Income Taxes
Note 22 - Income Taxes | 3 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | ( 22 The Company recognizes deferred income tax assets or liabilities for the expected future tax consequences of events that have been recognized in the financial statements or income tax returns. Deferred income tax assets or liabilities are determined based upon the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates expected to apply when the differences are expected to be settled or realized. Deferred income tax assets are reviewed periodically for recoverability and valuation allowances are provided as necessary. Interest and penalties related to income tax liabilities, when incurred, are classified in interest expense and income tax provision, respectively. For the three December 31, 2021 2020, not no In computing income tax, we recognize an income tax provision in tax jurisdictions in which we have pre-tax income for the period and are expecting to generate pre-tax book income during the fiscal year. |
Note 23 - Commitments and Conti
Note 23 - Commitments and Contingencies | 3 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | ( 23 Legal Matters The Company is, from time to time, involved in various legal proceedings incidental to the conduct of our business. Historically, the outcome of all such legal proceedings has not, no SecureAlert, Inc. v. Federal Government of Mexico (Department of the Interior). March 24, 2017, July 15, 2011, OADPRS August 2019 2016. November 11, 2020 July 15, 2011 3 May 6, 2021, August 4, 2021. January 6, 2022 November 12, 2021. January 25, 2022, 2 3 Commonwealth of Puerto Rico, through its Trustees v. International Surveillance Services Corporation . January 23, 2020, ISS 2014 2017, 2011. July 6, 2020. August 26, 2021, August 26, 2021 January 11, 2022, February 4, 2022. may thirty March 15, 2022. Eli Sabag v. Track Group, Inc., et al. March 12, 2020, 01 20 0003 6931. SPA July 17, 2020, April 2022. not Jeffrey Mohamed Abed v. Track Group, Inc., et al. June 7, 2021, No. 21 21345, October 15, 2021 November 12, 2021. January 11, 2022 No Track Group Chile SpA. v. Republic of Chile. January 24, 2022, not no Monitoring Equipment The Company leases monitoring equipment to its customers with contract terms varying from month-to-month to several years and each daily contract price varies. Devices supplied to customers are not may The Company’s tracking devices are considered operating leases under ASC 842 not not may not No 842. Operating lease revenue associated with the Company’s monitoring equipment for the three December 31, 2021 2020 Three months ended December 31, 2021 2020 Monitoring equipment operating revenue $ 7,994,457 $ 7,960,206 Performance Bonds As of December 31, 2021, two Performance Bonds two 90 January 18, 2022 July 2, 2024. In March 2021, July 2, 2024, July 2, 2024 The Company pays interest on the full amount of the Performance Bonds to the financial institution providing the guarantee at 3.5% interest per annum for the Performance Bond expiring in January 2022 July 2024. three December 31, 2021 December 31, 2020 |
Note 24 - Subsequent Events
Note 24 - Subsequent Events | 3 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | ( 24 On January 5, 2022, 19 In accordance with the Subsequent Events Topic of the FASB ASC 855, no |
Note 7 - Net Income (Loss) pe_2
Note 7 - Net Income (Loss) per Common Share (Tables) | 3 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Common Stock Equivalents [Table Text Block] | December 31, December 31, 2021 2020 Exercisable common stock options and warrants 430,511 685,259 Total common stock equivalents 430,511 685,259 |
Note 8 - Revenue Recognition (T
Note 8 - Revenue Recognition (Tables) | 3 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended December 31, 2021 Three Months Ended December 31, 2020 Total Revenue % of Total Revenue Total Revenue % of Total Revenue United States $ 6,907,260 72 % $ 6,797,758 72 % Latin America 2,551,722 27 % 2,506,412 27 % Other 136,674 1 % 97,735 1 % Total $ 9,595,656 100 % $ 9,401,905 100 % |
Note 10 - Inventory (Tables)
Note 10 - Inventory (Tables) | 3 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | December 31, 2021 September 30, 2021 Finished goods inventory $ 647,070 $ 305,210 Reserve for damaged or obsolete inventory - - Total inventory, net of reserves $ 647,070 $ 305,210 |
Note 11 - Property and Equipm_2
Note 11 - Property and Equipment (Tables) | 3 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, 2021 September 30, 2021 Equipment, software and tooling $ 1,363,524 $ 1,332,379 Automobiles 4,757 5,034 Leasehold improvements 1,218,469 1,268,486 Furniture and fixtures 213,181 212,294 Total property and equipment 2,799,931 2,818,193 Accumulated depreciation (2,601,242 ) (2,615,967 ) Property and equipment, net of accumulated depreciation $ 198,689 $ 202,226 |
Note 12 - Monitoring Equipment
Note 12 - Monitoring Equipment (Tables) | 3 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Monitoring Property and Equipment [Table Text Block] | December 31, 2021 September 30, 2021 Monitoring equipment $ 9,173,861 $ 9,045,193 Less: Accumulated depreciation (6,153,405 ) (5,977,093 ) Monitoring equipment, net of accumulated depreciation $ 3,020,456 $ 3,068,100 |
Note 13 - Intangible Assets (Ta
Note 13 - Intangible Assets (Tables) | 3 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | December 31, 2021 September 30, 2021 Patent & royalty agreements $ 21,120,565 $ 21,120,565 Developed technology 15,017,631 14,919,562 Customer relationships 1,860,000 1,860,000 Trade name 141,503 141,473 Total intangible assets 38,139,699 38,041,600 Accumulated amortization (18,453,714 ) (17,607,457 ) Intangible assets, net of accumulated amortization $ 19,685,985 $ 20,434,143 |
Note 14 - Goodwill (Tables)
Note 14 - Goodwill (Tables) | 3 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | December 31, 2021 September 30, 2021 Balance - beginning of year $ 8,519,998 $ 8,220,380 Effect of foreign currency translation on goodwill 138,774 299,618 Balance - end of year $ 8,658,772 $ 8,519,998 |
Note 16 - Leases (Tables)
Note 16 - Leases (Tables) | 3 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Lessee, Operating Lease, Balance Sheet Information [Table Text Block] | December 31, 2021 September 30, 2021 Operating lease asset Operating lease liability Operating lease asset Operating lease liability Other assets $ 174,322 $ - $ 165,963 $ - Accrued liabilities 142,859 - 162,313 Long-term liabilities 31,463 - 3,650 |
Lease, Cost [Table Text Block] | December 31, 2021 December 31, 2020 Cash paid for noncancelable operating leases included in operating cash flows $ 67,276 $ 75,890 Right of use assets obtained in exchange for operating lease liabilities $ 78,458 $ - |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Operating Leases From January 2022 to December 2022 147,554 From January 2023 to December 2023 31,862 From January 2024 to December 2024 57 Undiscounted cash flow 179,473 Less: imputed interest (5,151 ) Total $ 174,322 Reconciliation to lease liabilities: Lease liabilities - current $ 142,859 Lease liabilities - long-term 31,463 Total lease liabilities $ 174,322 |
Note 17 - Accrued Liabilities (
Note 17 - Accrued Liabilities (Tables) | 3 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | December 31, 2021 September 30, 2021 Accrued payroll, taxes and employee benefits $ 1,481,626 $ 2,279,454 Deferred revenue 96,790 22,500 Accrued taxes - foreign and domestic 107,861 23,022 Accrued other expense 89,401 236,386 Accrued legal and other professional costs 736,339 738,306 Accrued costs of revenue 282,021 248,963 Right of use liability 142,859 162,313 Deferred financing fees 88,685 180,000 Deferred tax liability 55,894 - Accrued interest 880,206 459,086 Total accrued liabilities $ 3,961,682 $ 4,350,030 |
Note 19 - Debt Obligations (Tab
Note 19 - Debt Obligations (Tables) | 3 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | December 31, 2021 September 30, 2021 The unsecured loan (the “ Amended Facility Agreement Conrent 42,864,000 300,501 4% 581,045 $ 42,563,499 $ 42,533,449 Note Payable Agreement with HP Financial Services Chile Limitada bearing interest at a rate of 6.56% 59,940 70,176 Note Payable Agreement with Banco Santander, net of unamortized issuance costs of $ 18,701 5.04% 286,556 332,354 Note Payable Agreement with Banco Estado, net of unamortized issuance costs of $ 13,170 3.50% 237,258 279,869 Note Payable Agreement with HP Financial Services Chile Limitada bearing interest at a rate of 6.61% 132,036 153,984 Note Payable Agreement with Banco de Chile, net of unamortized issuance costs of $ 275 2.54% 86,564 101,447 Note Payable Agreement with Banco de Chile, net of unamortized issuance costs of $ 25,766 3.12% 445,870 507,071 Total debt obligations 43,811,723 43,978,350 Less: current portion (502,463 ) (526,134 ) Long-term debt, less current portion $ 43,309,260 $ 43,452,216 |
Schedule of Maturities of Long-term Debt [Table Text Block] | Twelve months ended December 31: Total 2022 $ 502,463 2023 533,390 2024 43,108,267 2025 26,016 Total 44,170,136 Issuance costs (358,413 ) Debt obligations, net of unamortized issuance costs $ 43,811,723 |
Note 21 - Stock Options and W_2
Note 21 - Stock Options and Warrants (Tables) | 3 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Stock Options Roll Forward [Table Text Block] | Shares Under Option Weighted Average Exercise Price Weighted Average Remaining Contractual Life (years) Aggregate Intrinsic Value Outstanding as of September 30, 2021 457,075 $ 1.74 1.04 $ 779,977 Granted - - Expired/Cancelled - - Exercised (26,564 ) 1.21 Outstanding as of December 31, 2021 430,511 $ 1.77 0.83 $ 433,229 Exercisable as of December 31, 2021 430,511 $ 1.77 0.83 $ 433,229 |
Note 23 - Commitments and Con_2
Note 23 - Commitments and Contingencies (Tables) | 3 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Operating Lease, Lease Income [Table Text Block] | Three months ended December 31, 2021 2020 Monitoring equipment operating revenue $ 7,994,457 $ 7,960,206 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation (Details Textual) - USD ($) | 3 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2021 | |
Retained Earnings (Accumulated Deficit), Ending Balance | $ (299,133,849) | $ (298,828,527) | |
Net Income (Loss) Attributable to Parent, Total | (305,322) | $ 1,323,494 | |
Long-term Debt, Total | 43,811,723 | $ 43,978,350 | |
Debt Maturing in July 2024 [Member] | |||
Long-term Debt, Total | 42,864,000 | ||
Notes Payable Related to Construction of Monitoring Centers [Member] | |||
Long-term Debt, Total | $ 1,306,136 |
Note 7 - Net Income (Loss) pe_3
Note 7 - Net Income (Loss) per Common Share (Details Textual) - $ / shares | 3 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 15,000 | 685,259 |
Incremental Common Shares Attributable to Dilutive Effect of Call Options and Warrants (in shares) | 415,511 | |
Share Price (in dollars per share) | $ 2.28 | $ 0.34 |
Note 7 - Net Income (Loss) pe_4
Note 7 - Net Income (Loss) per Common Share - Schedule of Common Stock Equivalents (Details) - shares | Dec. 31, 2021 | Sep. 30, 2021 | Dec. 31, 2020 |
Exercisable common stock options and warrants (in shares) | 430,511 | 457,075 | |
Total common stock equivalents (in shares) | 430,511 | 685,259 | |
Stock Options and Warrants [Member] | |||
Exercisable common stock options and warrants (in shares) | 430,511 | 685,259 |
Note 8 - Revenue Recognition (D
Note 8 - Revenue Recognition (Details Textual) - USD ($) | 3 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2021 | Oct. 01, 2020 | |
Receivables, Net, Current, Total | $ 6,490,046 | $ 7,163,615 | $ 5,546,213 | |
Contract with Customer, Liability, Total | 96,790 | $ 22,500 | $ 146,458 | |
Contract with Customer, Liability, Revenue Recognized | $ 7,500 | $ 48,816 | ||
Monitoring and Other Related Services [Member] | ||||
Revenue From Contract With Customer, Percent | 99.00% | 99.00% |
Note 8 - Revenue Recognition -
Note 8 - Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) | 3 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Customer revenue amount | $ 9,595,656 | $ 9,401,905 |
Revenue Benchmark [Member] | Geographic Concentration Risk [Member] | ||
Customer concentration risk percentage | 100.00% | 100.00% |
UNITED STATES | ||
Customer revenue amount | $ 6,907,260 | $ 6,797,758 |
UNITED STATES | Revenue Benchmark [Member] | Geographic Concentration Risk [Member] | ||
Customer concentration risk percentage | 72.00% | 72.00% |
Latin America [Member] | ||
Customer revenue amount | $ 2,551,722 | $ 2,506,412 |
Latin America [Member] | Revenue Benchmark [Member] | Geographic Concentration Risk [Member] | ||
Customer concentration risk percentage | 27.00% | 27.00% |
Other than United States and Latin America [Member] | ||
Customer revenue amount | $ 136,674 | $ 97,735 |
Other than United States and Latin America [Member] | Revenue Benchmark [Member] | Geographic Concentration Risk [Member] | ||
Customer concentration risk percentage | 1.00% | 1.00% |
Note 9 - Prepaid Expense and _2
Note 9 - Prepaid Expense and Deposits (Details Textual) - USD ($) | Dec. 31, 2021 | Sep. 30, 2021 |
Prepaid Expense and Other Assets, Current | $ 1,040,711 | $ 998,589 |
Note 10 - Inventory (Details Te
Note 10 - Inventory (Details Textual) - USD ($) | 3 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Inventory Write-down | $ 0 | $ 91 |
Note 10 - Inventory - Summary o
Note 10 - Inventory - Summary of Inventory (Details) - USD ($) | Dec. 31, 2021 | Sep. 30, 2021 |
Finished goods inventory | $ 647,070 | $ 305,210 |
Reserve for inventory | 0 | 0 |
Total inventory, net of reserves | $ 647,070 | $ 305,210 |
Note 11 - Property and Equipm_3
Note 11 - Property and Equipment (Details Textual) - USD ($) | 3 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Depreciation, Nonproduction | $ 38,627 | $ 112,209 |
Note 11 - Property and Equipm_4
Note 11 - Property and Equipment - Property and Equipment (Details) - USD ($) | Dec. 31, 2021 | Sep. 30, 2021 |
Equipment, software and tooling | $ 1,363,524 | $ 1,332,379 |
Automobiles | 4,757 | 5,034 |
Leasehold improvements | 1,218,469 | 1,268,486 |
Furniture and fixtures | 213,181 | 212,294 |
Total property and equipment | 2,799,931 | 2,818,193 |
Accumulated depreciation | (2,601,242) | (2,615,967) |
Property and equipment, net of accumulated depreciation | $ 198,689 | $ 202,226 |
Note 12 - Monitoring Equipmen_2
Note 12 - Monitoring Equipment (Details Textual) - USD ($) | 3 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Impairment, Lessor Asset under Operating Lease | $ 99,297 | $ 110,123 |
Monitoring Equipment [Member] | ||
Depreciation, Lessor Asset under Operating Lease | 393,781 | 337,560 |
Impairment, Lessor Asset under Operating Lease | $ 99,297 | $ 110,123 |
Minimum [Member] | Monitoring Equipment [Member] | ||
Equipment Leased Under Contractual Service Agreements, Useful Life (Year) | 1 year | |
Maximum [Member] | Monitoring Equipment [Member] | ||
Equipment Leased Under Contractual Service Agreements, Useful Life (Year) | 5 years |
Note 12 - Monitoring Equipmen_3
Note 12 - Monitoring Equipment - Schedule of Monitoring Equipment (Details) - Monitoring Equipment [Member] - USD ($) | Dec. 31, 2021 | Sep. 30, 2021 |
Monitoring equipment | $ 9,173,861 | $ 9,045,193 |
Less: Accumulated depreciation | (6,153,405) | (5,977,093) |
Monitoring equipment, net of accumulated depreciation | $ 3,020,456 | $ 3,068,100 |
Note 13 - Intangible Assets (De
Note 13 - Intangible Assets (Details Textual) - USD ($) | 3 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Amortization of Intangible Assets, Total | $ 848,242 | $ 570,669 |
Note 13 - Intangible Assets - I
Note 13 - Intangible Assets - Intangible Asset Activity (Details) - USD ($) | Dec. 31, 2021 | Sep. 30, 2021 |
Gross carrying amount | $ 38,139,699 | $ 38,041,600 |
Accumulated amortization | (18,453,714) | (17,607,457) |
Intangible assets, net of accumulated amortization | 19,685,985 | 20,434,143 |
Patents [Member] | ||
Gross carrying amount | 21,120,565 | 21,120,565 |
Developed Technology Rights [Member] | ||
Gross carrying amount | 15,017,631 | 14,919,562 |
Customer Relationships [Member] | ||
Gross carrying amount | 1,860,000 | 1,860,000 |
Trade Names [Member] | ||
Gross carrying amount | $ 141,503 | $ 141,473 |
Note 14 - Goodwill (Details Tex
Note 14 - Goodwill (Details Textual) $ in Thousands | 3 Months Ended |
Dec. 31, 2021USD ($) | |
Goodwill, Impairment Loss | $ 0 |
Note 14 - Goodwill - Schedule O
Note 14 - Goodwill - Schedule Of Goodwill (Details) - USD ($) | 3 Months Ended | 12 Months Ended |
Dec. 31, 2021 | Sep. 30, 2021 | |
Balance | $ 8,519,998 | $ 8,220,380 |
Effect of foreign currency translation on goodwill | 138,774 | 299,618 |
Balance | $ 8,658,772 | $ 8,519,998 |
Note 15 - Other Assets (Details
Note 15 - Other Assets (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | |
Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | |
Other Assets, Total | $ 4,131,835 | $ 4,309,040 | |
Capitalized Contract Cost, Monitoring Centers and Related Equipment [Member] | |||
Capitalized Contract Cost, Gross | 1,700,000 | ||
Capitalized Cost, Estimated Costs for Monitoring Centers and Related Equipment | $ 2,000,000 | ||
Capitalized Contract Cost, Santiago Monitoring Center [Member] | |||
Capitalized Contract Cost, Gross | $ 1,100,000 | ||
Capitalized Contract Cost, Amortization | $ 75,947 |
Note 16 - Leases (Details Textu
Note 16 - Leases (Details Textual) | Dec. 31, 2021 |
Operating Lease, Weighted Average Remaining Lease Term (Year) | 1 year 1 month 6 days |
Operating Lease, Weighted Average Discount Rate, Percent | 7.00% |
Note 16 - Leases - Schedule of
Note 16 - Leases - Schedule of Right of Use Assets and Lease Liabilities (Details) - USD ($) | Dec. 31, 2021 | Sep. 30, 2021 |
Right of use liability | $ 142,859 | |
Long-term liabilities | 31,463 | $ 3,650 |
Other Assets [Member] | ||
Operating lease asset | 174,322 | 165,963 |
Accrued Liabilites [Member] | ||
Right of use liability | $ 142,859 | $ 162,313 |
Note 16 - Leases - Schedule o_2
Note 16 - Leases - Schedule of Cash Flow Information (Details) - USD ($) | 3 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Cash paid for noncancelable operating leases included in operating cash flows | $ 67,276 | $ 75,890 |
Right of use assets obtained in exchange for operating lease liabilities | $ 78,458 | $ 0 |
Note 16 - Leases - Schedule o_3
Note 16 - Leases - Schedule of Future Minimum Lease Payments (Details) - USD ($) | Dec. 31, 2021 | Sep. 30, 2021 |
From January 2022 to December 2022 | $ 147,554 | |
From January 2023 to December 2023 | 31,862 | |
From January 2024 to December 2024 | 57 | |
Undiscounted cash flow | 179,473 | |
Less: imputed interest | (5,151) | |
Total | 174,322 | |
Lease liabilities - current | 142,859 | |
Lease liabilities - long-term | $ 31,463 | $ 3,650 |
Note 17 - Accrued Liabilities -
Note 17 - Accrued Liabilities - Schedule of Accrued Liabilities (Details) - USD ($) | Dec. 31, 2021 | Sep. 30, 2021 |
Accrued payroll, taxes and employee benefits | $ 1,481,626 | $ 2,279,454 |
Deferred revenue | 96,790 | 22,500 |
Accrued taxes - foreign and domestic | 107,861 | 23,022 |
Accrued other expense | 89,401 | 236,386 |
Accrued legal and other professional costs | 736,339 | 738,306 |
Accrued costs of revenue | 282,021 | 248,963 |
Right of use liability | 142,859 | |
Deferred financing fees | 88,685 | 180,000 |
Deferred tax liability | 55,894 | 0 |
Accrued interest | 880,206 | 459,086 |
Total accrued liabilities | 3,961,682 | 4,350,030 |
Right-of-use Liability [Member] | ||
Right of use liability | $ 142,859 | $ 162,313 |
Note 18 - Related Parties (Deta
Note 18 - Related Parties (Details Textual) | Sep. 28, 2017shares |
Stock Issued During Period, Shares, Acquisitions (in shares) | 4,871,745 |
Note 19 - Debt Obligations (Det
Note 19 - Debt Obligations (Details Textual) | Jan. 05, 2022USD ($) | Mar. 01, 2021USD ($) | Feb. 15, 2021USD ($) | Feb. 15, 2021CLP ($) | Feb. 05, 2021USD ($) | Feb. 05, 2021CLP ($) | Feb. 04, 2021USD ($) | Feb. 04, 2021USD ($) | Feb. 04, 2021CLP ($) | Feb. 02, 2021USD ($) | Feb. 02, 2021CLP ($) | Jan. 12, 2021USD ($) | Jan. 12, 2021CLP ($) | Jan. 06, 2021USD ($) | Jan. 06, 2021CLP ($) | Oct. 21, 2020USD ($) | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Jul. 01, 2021USD ($) | Sep. 30, 2021 | Feb. 15, 2021CLP ($) | Feb. 02, 2021CLP ($) | Jan. 12, 2021CLP ($) | Dec. 21, 2020 | Dec. 20, 2020 |
Debt Obligations | $ 30,400,000 | ||||||||||||||||||||||||
Amortization of Debt Issuance Costs | $ 35,275 | $ 0 | |||||||||||||||||||||||
Chilean Pesos [Member] | |||||||||||||||||||||||||
Repayments of Long-term Debt, Total | $ 678,214 | $ 500,000,000 | $ 136,564 | $ 99,808,328 | $ 205,330 | $ 149,794,432 | $ 338,954 | $ 247,999,300 | $ 482,965 | $ 347,198,500 | $ 101,186 | $ 70,443,375 | |||||||||||||
Other Expenses, Total | $ 286 | $ 210,485 | 2,734 | $ 2,000,700 | 3,897 | $ 2,801,500 | |||||||||||||||||||
Broker Fees Others | $ 38,317 | $ 19,304 | $ 27,275 | $ 28,248,588 | $ 14,124,294 | $ 19,607,843 | |||||||||||||||||||
Agreement with Conrent [Member] | |||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.00% | 4.00% | 4.00% | 8.00% | |||||||||||||||||||||
Accounts Payable and Other Accrued Liabilities, Current | $ 12,531,556 | ||||||||||||||||||||||||
Principal Amount | 42,931,556 | $ 42,864,000 | $ 42,864,000 | ||||||||||||||||||||||
Conrent Forgave Amount Due | $ 67,556 | ||||||||||||||||||||||||
Amortization of Debt Issuance Costs | $ 360,000 | ||||||||||||||||||||||||
Interest Payable | $ 876,331 | ||||||||||||||||||||||||
Agreement with Conrent [Member] | Subsequent Event [Member] | |||||||||||||||||||||||||
Interest Paid, Including Capitalized Interest, Operating and Investing Activities, Total | $ 876,331 | ||||||||||||||||||||||||
Note Payable With HP Financial Services Maturing on Feb 6, 2024 [Member] | |||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.56% | 6.56% | |||||||||||||||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 6.56% | 6.56% | |||||||||||||||||||||||
Note Payable With Banco Santander [Member] | |||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.04% | 5.04% | |||||||||||||||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 5.04% | 5.04% | |||||||||||||||||||||||
Note Payable With Banco Estado [Member] | |||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.50% | 3.50% | |||||||||||||||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 3.50% | 3.50% | |||||||||||||||||||||||
Note Payable with HP Financial Services Maturing on March 4, 2024 [Member] | |||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.61% | 6.61% | |||||||||||||||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 6.61% | 6.61% | 6.61% | ||||||||||||||||||||||
Note Payable with Banco De Chile Maturing on March 4, 2024 [Member] | |||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.54% | 2.54% | |||||||||||||||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 2.54% | 2.54% | |||||||||||||||||||||||
Note Payable with Banco De Chile Maturing on Feb 17, 2025 [Member] | |||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.12% | 3.12% | |||||||||||||||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 3.12% | 3.12% |
Note 19 - Debt Obligations - Su
Note 19 - Debt Obligations - Summary of Debt Obligations (Details) - USD ($) | Dec. 31, 2021 | Sep. 30, 2021 |
Debt obligations, net of unamortized issuance costs | $ 43,811,723 | $ 43,978,350 |
Less: current portion | (502,463) | (526,134) |
Long-term debt, net of current portion | 43,309,260 | 43,452,216 |
Agreement with Conrent [Member] | ||
Debt obligations, net of unamortized issuance costs | 42,563,499 | 42,533,449 |
Note Payable With HP Financial Services Maturing on Feb 6, 2024 [Member] | ||
Debt obligations, net of unamortized issuance costs | 59,940 | 70,176 |
Note Payable With Banco Santander [Member] | ||
Debt obligations, net of unamortized issuance costs | 286,556 | 332,354 |
Note Payable With Banco Estado [Member] | ||
Debt obligations, net of unamortized issuance costs | 237,258 | 279,869 |
Note Payable with HP Financial Services Maturing on March 4, 2024 [Member] | ||
Debt obligations, net of unamortized issuance costs | 132,036 | 153,984 |
Note Payable with Banco De Chile Maturing on March 4, 2024 [Member] | ||
Debt obligations, net of unamortized issuance costs | 86,564 | 101,447 |
Note Payable with Banco De Chile Maturing on Feb 17, 2025 [Member] | ||
Debt obligations, net of unamortized issuance costs | $ 445,870 | $ 507,071 |
Note 19 - Debt Obligations - _2
Note 19 - Debt Obligations - Summary of Debt Obligations (Details) (Parentheticals) - USD ($) | 3 Months Ended | ||||
Dec. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2021 | Dec. 21, 2020 | Dec. 20, 2020 | |
Debt instrument, unamortized issuance costs | $ 358,413 | ||||
Interest paid | 62,323 | $ 2,629 | |||
Agreement with Conrent [Member] | |||||
Debt instrument, face amount | 42,864,000 | ||||
Debt instrument, unamortized issuance costs | $ 300,501 | ||||
Debt instrument, interest rate | 4.00% | 4.00% | 4.00% | 8.00% | |
Interest paid | $ 581,045 | ||||
Note Payable With HP Financial Services Maturing on Feb 6, 2024 [Member] | |||||
Debt instrument, interest rate | 6.56% | 6.56% | |||
Note Payable With Banco Santander [Member] | |||||
Debt instrument, unamortized issuance costs | $ 18,701 | ||||
Debt instrument, interest rate | 5.04% | 5.04% | |||
Note Payable With Banco Estado [Member] | |||||
Debt instrument, unamortized issuance costs | $ 13,170 | ||||
Debt instrument, interest rate | 3.50% | 3.50% | |||
Note Payable with HP Financial Services Maturing on March 4, 2024 [Member] | |||||
Debt instrument, interest rate | 6.61% | 6.61% | |||
Note Payable with Banco De Chile Maturing on March 4, 2024 [Member] | |||||
Debt instrument, unamortized issuance costs | $ 275 | ||||
Debt instrument, interest rate | 2.54% | 2.54% | |||
Note Payable with Banco De Chile Maturing on Feb 17, 2025 [Member] | |||||
Debt instrument, unamortized issuance costs | $ 25,766 | ||||
Debt instrument, interest rate | 3.12% | 3.12% |
Note 19 - Debt Obligations - Fu
Note 19 - Debt Obligations - Future Maturities of Debt Obligations (Details) - USD ($) | Dec. 31, 2021 | Sep. 30, 2021 |
2022 | $ 502,463 | |
2023 | 533,390 | |
2024 | 43,108,267 | |
2025 | 26,016 | |
Total | 44,170,136 | |
Issuance costs | (358,413) | |
Debt obligations, net of unamortized issuance costs | $ 43,811,723 | $ 43,978,350 |
Note 20 - Preferred and Commo_2
Note 20 - Preferred and Common Stock (Details Textual) $ / shares in Units, $ in Thousands | 3 Months Ended | |||
Dec. 31, 2021USD ($)$ / sharesshares | Dec. 31, 2020USD ($) | Sep. 30, 2021$ / sharesshares | Oct. 12, 2017$ / sharesshares | |
Common Stock, Shares Authorized (in shares) | 30,000,000 | 30,000,000 | ||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.0001 | $ 0.0001 | ||
Preferred Stock, Shares Authorized (in shares) | 20,000,000 | |||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.0001 | |||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 0 | |||
Dividends, Preferred Stock, Total | $ | $ 0 | $ 0 | ||
Series A Convertible Preferred Stock [Member] | ||||
Preferred Stock, Shares Authorized (in shares) | 1,200,000 | 1,200,000 | 1,200,000 | |
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.0001 | $ 0.0001 | ||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 0 | 0 | ||
Preferred Stock, Liquidation Preference Per Share (in dollars per share) | $ / shares | $ 35 | |||
Preferred Stock, Convertible, Conversion Ratio | 10 |
Note 21 - Stock Options and W_3
Note 21 - Stock Options and Warrants (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | May 19, 2015 | Dec. 31, 2021 | Dec. 31, 2020 | Mar. 21, 2011 |
Share Price (in dollars per share) | $ 2.28 | $ 0.34 | ||
Stock Options and Warrants [Member] | ||||
Share-based Payment Arrangement, Expense | $ 0 | $ 0 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 0 | 0 | ||
Class of Warrant or Right, Issued During Period (in shares) | 0 | 0 | ||
Director [Member] | ||||
Warrants and Rights Outstanding, Term (Year) | 5 years | |||
Director [Member] | Stock Options and Warrants [Member] | ||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 0 | |||
Minimum [Member] | Employees [Member] | ||||
Class of Warrant or Right, Vesting Period (Year) | 2 years | |||
Maximum [Member] | Employees [Member] | ||||
Class of Warrant or Right, Vesting Period (Year) | 3 years | |||
The 2012 Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 90,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized (in shares) | 713,262 | |||
Share-based Payment Arrangement, Expense | $ 0 | $ 0 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 27,218 | |||
The 2012 Plan [Member] | Employees [Member] | ||||
Options and Warrants, Expiration Term Following the Final Vesting Date of Grant (Year) | 5 years | |||
The 2012 Plan [Member] | Minimum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 2 years | |||
The 2012 Plan [Member] | Maximum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years |
Note 21 - Stock Options and W_4
Note 21 - Stock Options and Warrants - Summary of Stock Options and Warrants Activity (Details) - USD ($) | 3 Months Ended | 12 Months Ended |
Dec. 31, 2021 | Sep. 30, 2021 | |
Outstanding (in shares) | 457,075 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 1.74 | |
Outstanding, weighted average remaining contractual life (Year) | 9 months 29 days | 1 year 14 days |
Outstanding, aggregate intrinsic value | $ 433,229 | $ 779,977 |
Exercised (in shares) | (26,564) | |
Exercised, weighted average exercise price (in dollars per share) | $ 1.21 | |
Outstanding (in shares) | 430,511 | 457,075 |
Outstanding, weighted average exercise price (in dollars per share) | $ 1.77 | $ 1.74 |
Exercisable (in shares) | 430,511 | |
Exercisable, weighted average exercise price (in dollars per share) | $ 1.77 | |
Exercisable, weighted average remaining contractual life (Year) | 9 months 29 days | |
Exercisable, aggregate intrinsic value | $ 433,229 |
Note 22 - Income Taxes (Details
Note 22 - Income Taxes (Details Textual) - USD ($) | 3 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Net Income (Loss) Attributable to Parent, Total | $ (305,322) | $ 1,323,494 |
Note 23 - Commitments and Con_3
Note 23 - Commitments and Contingencies (Details Textual) | Mar. 01, 2021USD ($) | Mar. 24, 2017USD ($) | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) |
Number of Performance Bonds in Connection with a Foreign Customer | 2 | |||
Performance Bonds in Connection with a Foreign Customer | $ 2,169,380 | |||
Performance Bonds in Connection with a Foreign Customer, Amount Held in an Interest-bearing Account on Behalf of Customer | 1,518,537 | |||
Performance Bonds in Connection with a Foreign Customer, Amount Guaranteed By a Foreign Financial Institution | 650,843 | |||
Performance Bonds in Connection with a Foreign Customer, Amount to be Released Upon Expiration in Next Fiscal Year | 283,601 | |||
Performance Bonds in Connection with a Foreign Customer, Amount to be Released Upon Expiration in Third Fiscal Year | $ 1,234,937 | |||
Deposit Assets, Total | $ 617,483 | |||
Performance Bonds in Connection with a Foreign Customer, Bonds Expiring in Next Fiscal Year, Interest Rate | 3.50% | |||
Performance Bonds in Connection with a Foreign Customer, Bonds Expiring in Third Fiscal Year, Interest Rate | 2.80% | |||
Performance Bonds in Connection with a Foreign Customer, Interest Expense | $ 32,145 | $ 18,462 | ||
Minimum [Member] | ||||
Portion Guaranteed by Financial Institution, Percentage | 30.00% | |||
Maximum [Member] | ||||
Portion Guaranteed by Financial Institution, Percentage | 65.00% | |||
SecureAlert, Inc. v. Federal Government of Mexico [Member] | ||||
Claim Amount | $ 6,000,000 |
Note 23 - Commitments and Con_4
Note 23 - Commitments and Contingencies - Operating Lease Revenue Associated With Monitoring Equipment (Details) - USD ($) | 3 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Monitoring equipment operating revenue | $ 7,994,457 | $ 7,960,206 |
Note 24 - Subsequent Events (De
Note 24 - Subsequent Events (Details Textual) | Jan. 05, 2022USD ($) |
Agreement with Conrent [Member] | Subsequent Event [Member] | |
Interest Paid, Including Capitalized Interest, Operating and Investing Activities, Total | $ 876,331 |