Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Mar. 31, 2021 | May 14, 2021 | |
Document Information Line Items | ||
Entity Registrant Name | PISMO COAST VILLAGE INC | |
Document Type | 10-Q | |
Current Fiscal Year End Date | --09-30 | |
Entity Common Stock, Shares Outstanding | 1,775 | |
Amendment Flag | false | |
Entity Central Index Key | 0000216877 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Document Period End Date | Mar. 31, 2021 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q2 | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Interactive Data Current | Yes |
BALANCE SHEETS
BALANCE SHEETS - USD ($) | Mar. 31, 2021 | Sep. 30, 2020 | Mar. 31, 2020 |
Current Assets | |||
Cash and cash equivalents | $ 8,156,893 | $ 6,452,110 | $ 5,132,971 |
Accounts receivable | 19,662 | 25,610 | 23,919 |
Inventories | 211,505 | 190,211 | 210,963 |
Prepaid income taxes | 119,000 | 271,200 | 281,931 |
Prepaid expenses | 23,757 | 22,086 | 27,917 |
Total current assets | 8,530,817 | 6,961,217 | 5,677,701 |
Property and equipment | |||
Net of accumulated depreciation and Amortization | 15,414,122 | 15,537,195 | 15,463,103 |
Total Assets | 23,944,939 | 22,498,412 | 21,140,804 |
Current Liabilities | |||
Accounts payable and accrued liabilities | 280,470 | 280,784 | 283,355 |
Accrued salaries and vacation | 122,248 | 278,874 | 108,747 |
Rental deposits | 3,027,365 | 2,058,135 | 2,120,707 |
Current portion of capital lease obligations | 59,065 | 54,749 | 46,697 |
Total current liabilities | 3,489,148 | 2,672,542 | 2,559,506 |
Long-Term Liabilities | |||
Deferred taxes | 375,400 | 423,100 | 435,600 |
PPP Loan Payable | 557,635 | 555,715 | |
Capital lease obligations, net of current portion | 187,668 | 220,525 | 173,495 |
Total Liabilities | 4,609,851 | 3,871,882 | 3,168,601 |
Stockholders’ Equity | |||
Common stock – no par value, 1,800 shares issued, 1,775 and 1775 shares outstanding at March 31, 2021 and 2020, respectively | 5,569,268 | 5,569,268 | 5,569,268 |
Retained earnings | 13,765,820 | 13,057,262 | 12,402,935 |
Total stockholders’ equity | 19,335,088 | 18,626,530 | 17,972,203 |
Total Liabilities and Stockholders’ Equity | $ 23,944,939 | $ 22,498,412 | $ 21,140,804 |
BALANCE SHEETS (Parentheticals)
BALANCE SHEETS (Parentheticals) - $ / shares | Mar. 31, 2021 | Sep. 30, 2020 | Mar. 31, 2020 |
Statement of Financial Position [Abstract] | |||
Common stock – no par value (in Dollars per share) | |||
Common stock, shares Issued | 1,800 | 1,800 | 1,800 |
Common stock, shares outstanding | 1,775 | 1,775 | 1,775 |
STATEMENTS OF OPERATIONS AND RE
STATEMENTS OF OPERATIONS AND RETAINED EARNINGS (UNAUDITED) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2021 | Mar. 31, 2020 | |
Income | ||||
Income | $ 2,030,664 | $ 1,649,871 | $ 4,104,307 | $ 3,467,023 |
Cost and Expenses | ||||
Operating expenses | 1,214,052 | 1,293,080 | 2,585,182 | 2,705,436 |
Cost of goods sold | 127,768 | 105,013 | 274,456 | 228,024 |
Depreciation | 98,687 | 101,602 | 198,568 | 204,700 |
Total cost and expenses | 1,440,507 | 1,499,695 | 3,058,206 | 3,138,160 |
Income from Operations | 590,157 | 150,176 | 1,046,101 | 328,863 |
Other Income (Expense) | ||||
Interest/dividend income | 334 | 500 | 833 | 1,006 |
Interest expense | (3,985) | (4,801) | (8,076) | (10,940) |
Total other income (expense) | (3,651) | (4,301) | (7,243) | (9,934) |
Income Before Provision for Income Tax | 586,506 | 145,875 | 1,038,858 | 318,929 |
Provision for Income Tax | (184,300) | (43,000) | (330,300) | (94,400) |
Net Income | 402,206 | 102,875 | 708,558 | 224,529 |
Other Comprehensive Income | ||||
Change in unrealized holding gains on available-for-sale securities, net of change in applicable deferred taxes | (11,143) | |||
Total other comprehensive income | (11,143) | |||
Total Comprehensive Income | 402,206 | 102,875 | $ 708,558 | $ 213,386 |
Net Income Per Share (in Dollars per share) | $ 399.19 | $ 126.50 | ||
Total Comprehensive Income Per Share (in Dollars per share) | $ 399.19 | $ 120.22 | ||
Resort Operations [Member] | ||||
Income | ||||
Income | 1,755,638 | 1,414,658 | $ 3,518,858 | $ 2,970,510 |
Retail Operations [Member] | ||||
Income | ||||
Income | $ 275,026 | $ 235,213 | $ 585,449 | $ 496,513 |
STATEMENTS OF CHANGES IN STOCKH
STATEMENTS OF CHANGES IN STOCKHOLDER`S EQUITY (UNAUDITED) - USD ($) | Common Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance at Mar. 31, 2020 | $ 5,569,268 | $ 12,402,935 | $ 17,972,203 | |
Balance (in Shares) at Mar. 31, 2020 | 1,775 | |||
Net Income | (32,414) | (32,414) | ||
Balance at Jun. 30, 2020 | $ 5,569,268 | 12,370,521 | 17,939,789 | |
Balance (in Shares) at Jun. 30, 2020 | 1,775 | |||
Net Income | 686,741 | 686,741 | ||
Balance at Sep. 30, 2020 | $ 5,569,268 | 13,057,262 | 18,626,530 | |
Balance (in Shares) at Sep. 30, 2020 | 1,775 | |||
Net Income | 306,352 | 306,352 | ||
Balance at Dec. 31, 2020 | $ 5,569,268 | 13,363,614 | 18,932,882 | |
Balance (in Shares) at Dec. 31, 2020 | 1,775 | |||
Balance at Sep. 30, 2020 | $ 5,569,268 | 13,057,262 | 18,626,530 | |
Balance (in Shares) at Sep. 30, 2020 | 1,775 | |||
Net Income | 708,558 | |||
Balance at Mar. 31, 2021 | $ 5,569,268 | 13,765,820 | 19,335,088 | |
Balance (in Shares) at Mar. 31, 2021 | 1,775 | |||
Balance at Dec. 31, 2020 | $ 5,569,268 | 13,363,614 | 18,932,882 | |
Balance (in Shares) at Dec. 31, 2020 | 1,775 | |||
Net Income | 402,206 | 402,206 | ||
Balance at Mar. 31, 2021 | $ 5,569,268 | $ 13,765,820 | $ 19,335,088 | |
Balance (in Shares) at Mar. 31, 2021 | 1,775 |
STATEMENTS OF CASH FLOWS (Unaud
STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) | 6 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Cash Flows from Operating Activities | ||
Net Income | $ 708,558 | $ 224,529 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 198,568 | 204,700 |
Changes in operating assets and liabilities: | ||
Accounts receivable | 5,948 | 26,493 |
Inventory | (21,294) | (19,717) |
Prepaid income taxes | 152,200 | (277,031) |
Prepaid expenses | (1,671) | (1,810) |
Accounts payable and accrued liabilities | (314) | 6,984 |
Accrued salaries and vacation | (156,626) | (251,163) |
Rental deposits | 969,230 | 528,015 |
Deferred taxes | (47,700) | (9,200) |
Total adjustments | 1,098,341 | 207,271 |
Net cash provided by operating activities | 1,806,899 | 431,800 |
Cash Flows from Investing Activities | ||
Purchases of property and equipment | (75,495) | (352,844) |
Net cash used in investing activities | (75,495) | (352,844) |
Cash Flows from Financing Activities | ||
Borrowings on long-term debt | 1,920 | |
Principal payments on capital lease obligations | (28,541) | (22,009) |
Net cash used in financing activities | (26,621) | (22,009) |
Net increase in cash and cash equivalents | 1,704,783 | 56,947 |
Cash and Cash Equivalents – Beginning of Period | 6,452,110 | 5,076,024 |
Cash and Cash Equivalents – End of Period | 8,156,893 | 5,132,971 |
Schedule of Payments of Interest and Taxes: | ||
Cash paid for interest | $ 8,076 | $ 10,940 |
NATURE OF BUSINESS
NATURE OF BUSINESS | 6 Months Ended |
Mar. 31, 2021 | |
Accounting Policies [Abstract] | |
Nature of Operations [Text Block] | NOTE 1: NATURE OF BUSINESS Pismo Coast Village, Inc. (Company) is a recreational vehicle camping resort. Its business is seasonal in nature with the fourth quarter, the summer, being its busiest and most profitable. |
SUMMARY OF SIGNIFICANT ACCOUNRT
SUMMARY OF SIGNIFICANT ACCOUNRTING POLICIES | 6 Months Ended |
Mar. 31, 2021 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNRTING POLICIES Revenue from Contracts with Customers The Financial Accounting Standards Board (FASB) issued new guidance that created Topic 606, Revenue from Contracts with Customers Revenue Recognition Other Assets and Deferred Costs-Contracts with Customers Revenue primarily consists of recreational camping space rentals, revenue from recreational vehicle storage space and RV service and repairs, food and beverage sales and other ancillary goods and services. Revenue is recognized when spaces are occupied or goods and services have been delivered or rendered, respectively. Sales taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a customer, are excluded from revenue. Finally, the Company collects Transient Occupancy Taxes (TOT) and Tourism Business Improvement District (TBID) assessments from guests which are remitted to the City of Pismo Beach and County of San Luis Obispo and are excluded from revenues. As of March 31, 2021, September 30, 2020, and March 31, 2020, the Company had $77,401, $71,145, and $30,266 in TOT and TBID assessments due to the City of Pismo Beach and the County of San Luis Obispo included in accrued expenses on the combined balance sheet, respectively. Performance Obligations For performance obligations related to the Company accommodations and other ancillary goods and services, control transfers to the customer at a point in time. The Company’s principal terms of sale occur simultaneously when control of the goods and services are transferred to the customer and payment is accepted. The Company does not have any significant financing components. The Company does not disclose the value of unsatisfied performance obligations for contracts with an expected length of one year or less. Due to the nature of the business, the Company’s revenue is not significantly impacted by refunds. Cash payments received in advance of guests staying at the resort are refunded to guests if the guest cancels within the specified time period, before any services are rendered. Refunds related to services are generally recognized as an adjustment to the transaction price at the time the resort stay occurs or services are rendered. Disaggregation of Revenue Revenue from performance obligations satisfied at a point in time consists of sales related to the Company accommodations and other ancillary goods and services at the location in Pismo Beach, California. The geographic nature of the revenue could affect the nature, timing, amount and uncertainty of revenue and cash flows. Revenue from site rentals, storage rental, spotting, and store and accessory sales accounts for approximately 62%, 17%, 5%, and 14% of the Company total revenue for the period ended March 31, 2021, respectively. Revenue from other ancillary goods and services accounts for the remaining 2% of revenue for the period ended March 31, 2021. Customer Deposits The Company does not recognize revenue when a customer prepays for resort accommodations. Rather, the Company records a deferred revenue liability equal to the amount received. Revenue is then recognized when the customer stays at the resort. As of March 31, 2021, September 30, 2020, and March 31, 2020, the Company had customer deposits related to prepaid village accommodations of $3,027,365, $2,058,135, and $2,120,707 on the balance sheet as rental deposits, respectively. Cash and Cash Equivalents For purposes of the statements of cash flows, the Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. As of March 31, 2021, September 30, 2020, and March 31, 2020, the Company had $6,098, $6,096 and $6,094 of cash equivalents. Allowance for Doubtful Accounts It is the policy of management to review the outstanding accounts receivable at year-end, as well as historical bad debt write-offs, and establish an allowance for doubtful accounts for estimated uncollectible accounts. Management did not believe an allowance for doubtful accounts was necessary as of March 31, 2021, September 30, 2020, and March 31, 2020. Inventories Inventory has been valued at the lower of cost or market on a first-in, first-out basis. Inventory is comprised primarily of finished goods in the general store and in the RV repair shop. Property and Equipment All property and equipment is recorded at cost. Depreciation of property and equipment is computed using the straight line method based on the cost of the assets, less allowance for salvage value, where appropriate. Depreciation rates are based upon the following estimated useful lives: Building and resort improvements 5 to 40 years Furniture, fixtures, equipment and leasehold improvements 5 to 31.5 years Transportation equipment 5 to 10 years Earnings Per Share The earnings per share are based on the 1,775 shares issued and outstanding. The financial statements report only basic earnings per share, as there are no potentially dilutive shares outstanding. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires the Company to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Advertising The Company follows the policy of charging the costs of non-direct advertising as incurred. Advertising expense was $6,336 and $7,225 for the six months ended March 31, 2021 and 2020, respectively, and $5,089 and $2,841 for the three months ended March 31, 2021 and 2020, respectively. Advertising expense was included in operating expenses on the statement of operations. Concentration of Credit Risk At March 31, 2021, September 30, 2020, and March 31, 2020 the Company had cash deposits of $6,299,526, $4,591,597 and $3,257,123, respectively, in excess of the $250,000 federally insured limit with Pacific Premier Bank. However, because Pacific Premier Bank is a member of the Certificate of Deposit Account Registry Service (CDARS), large deposits are divided into smaller amounts and placed with other FDIC insured banks which are also members of the CDARS network. Then, those member banks issue CDs in amounts under $250,000, so that the entire deposit balance is eligible for FDIC insurance. Income Taxes The Company uses the asset-liability method of computing deferred taxes in accordance with ASC Income Taxes topic. ASC 740 requires, among other things, that if income is expected for the entire year, but there is a net loss to date, a tax benefit is recognized based on the annual effective tax rate. FASB ASC 740 also requires, among other things, the recognition and measurement of uncertain tax positions based on a "more likely than not" (likelihood greater than 50%) approach. As of March 31, 2021, management has considered its tax positions and believes that the Company did not maintain any uncertain tax positions under this approach and, accordingly, all tax positions have been fully recorded in the provision for income taxes. It is the policy of the Company to consistently classify interest and penalties associated with income tax expense separately from the provision for income taxes, and accordingly no interest or penalties associated with income taxes have been included in this calculation, or separately in the Statement of Operations and Retained Earnings. The Company does not expect any material changes through March 31, 2022. Although the Company does not maintain any uncertain tax positions, tax returns remain subject to examination by the Internal Revenue Service for fiscal years ending on or after September 30, 2018 and by the California Franchise Tax Board for fiscal years ending on or after September 30, 2017. |
PROPERTY AND EQUIPMENT
PROPERTY AND EQUIPMENT | 6 Months Ended |
Mar. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 3: PROPERTY AND EQUIPMENT At March 31, 2021, September 30, 2020, and March 31, 2020, property and equipment included the following: March 31, 2021 September 30, 2020 March 31, 2020 Land $ 10,394,747 $ 10,394,747 $ 10,394,747 Building and resort improvements 11,349,249 11,349,248 11,353,001 Furniture, fixtures, equipment and 685,798 679,303 692,755 Transportation equipment 794,974 794,974 768,755 Construction in progress 1,921,021 1,852,022 1,673,938 25,145,789 25,070,294 24,883,196 Less: accumulated depreciation (9,731,667) (9,533,099) (9,420,093) $ 15,414,122 $ 15,537,195 $ 15,463,103 Total depreciation and amortization expense was $198,568 and $204,700 for the six months ended March 31, 2021 and 2020, respectively, and $98,687 and $101,602 for the three months ended March 31, 2021 and 2020, respectively. At March 31, 2021, September 30, 2020, and March 31, 2020, the cost of assets under capital lease was $405,819, $405,819, and $398,770 and related accumulated amortization was $234,882, $196,991 and $233,750, respectively. Amortization expense on assets under capital lease was $37,891 and $32,415 for the six months ended March 31, 2021 and 2020, respectively, and $19,035 and $16,206 for the three months ended March 31, 2021 and 2020, respectively. |
LINE OF CREDIT
LINE OF CREDIT | 6 Months Ended |
Mar. 31, 2021 | |
Debt Disclosure [Abstract] | |
Debt Disclosure [Text Block] | NOTE 4: LINE OF CREDIT The Company has a revolving line of credit with Pacific Premier Bank (formerly Heritage Oaks Bank) for $500,000, expiring April 1, 2021. There currently is a Letter of Credit written in favor of the County of San Luis Obispo (the County), California for $416,062 to cover a bond requirement relating to public improvements as part of the Company’s construction of a new RV service facility. If the Company fails to complete the required public improvements, monies will be drawn from the credit line to satisfy the County. A balance of $83,938 is available if the Company requires additional funding from the line of credit. The Company expects the RV service facility project to be completed and bond satisfied by June 30, 2021. |
CAPITAL LEASE OBLIGATIONS
CAPITAL LEASE OBLIGATIONS | 6 Months Ended |
Mar. 31, 2021 | |
Disclosure Text Block [Abstract] | |
Debt and Capital Leases Disclosures [Text Block] | NOTE 5: CAPITAL LEASE OBLIGATIONS At March 31, 2021, September 30, 2020, and March 31, 2020, capital lease obligations consisted of the following: March 31, 2021 (Unaudited) September 30, 2020 (Audited) March 31, 2020 (Unaudited) A 2016 Hino truck leased from Donahue Transportation Services Corp, payable in monthly installments of $1,159, including interest at 4.532% per annum, through January 2023. $ 22,912 $ 29,261 $ 35,469 A 2018 Hino truck leased from Donahue Transportation Services Corp, payable in monthly installments of $1,147, including interest at 4.644% per annum, through September 2024. 42,744 48,552 54,228 A 2019 Hino truck leased from Donahue Transportation Services Corp, payable in monthly installments of $1,151, including interest at 4.181% per annum, through May 2025. 50,633 56,411 62,070 A 2019 Hino truck leased from Donahue Transportation Services Corp, payable in monthly installments of $1,151, including interest at 4.101% per annum, through December 2025. 57,207 62,874 68,425 A 2020 Hino truck leased from Donahue Transportation Services Corp, payable in monthly installments of $1,166, including interest at 5.406% per annum, through May 2027. 73,237 78,176 - 246,733 275,274 220,192 Less current portion (59,065) (54,749) (46,697) Total capital lease obligations $ 187,668 $ 220,525 $ 173,495 At March 31, 2021, future minimum payments on the capital lease obligations were as follows: For the Twelve Months Ending March 31, 2021 $ 69,288 2022 65,329 2023 55,380 2024 46,392 2025 21,538 Thereafter 16,325 Present value of future minimum payments 274,252 Less amount representing interest (27,519) 246,733 Less current portion of capital lease obligations (59,065) Total capital lease obligations, net of current portion $ 187,668 |
COMMON STOCK
COMMON STOCK | 6 Months Ended |
Mar. 31, 2021 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 6: COMMON STOCK Each share of stock is intended to provide the shareholder with free use of the resort for a maximum of 45 days per year. If the Company is unable to generate sufficient funds from the public, the Company may be required to charge shareholders for services. A shareholder is entitled to a pro rata share of any dividends as well as a pro rata share of the assets of the Company in the event of its liquidation or sale. The shares are personal property and do not constitute an interest in real property. The ownership of a share does not entitle the owner to any interest in any particular site or camping period. |
INCOME TAXES
INCOME TAXES | 6 Months Ended |
Mar. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | NOTE 7: INCOME TAXES The provision for income taxes for the three and six months ended March 31, 2021 and 2020 is as follows: Three Months Ended March 31, Six Months Ended March 31, 2021 2020 2021 2020 Income tax (expense) benefit $ (184,300) (43,000) $ (330,300) $ (94,400) The Company uses the asset-liability method of computing deferred taxes in accordance with FASB ASC Topic 740. The difference between the effective tax rate and the statutory tax rates is due primarily to the effects of state taxes net of the federal tax benefit and nondeductible variable costs of shareholder usage. As of March 31, 2021, September 30, 2020, and March 31, 2020, the Company’s deferred tax liability was $375,400 $423,100 and $435,600, respectively. Deferred income taxes arise from temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements, which will result in taxable or deductible amounts in the future. The majority of the balance is due to timing differences of depreciation expense, caused by the use of accelerated depreciation methods for tax calculations. |
OPERATING LEASES
OPERATING LEASES | 6 Months Ended |
Mar. 31, 2021 | |
Disclosure Text Block [Abstract] | |
Lessee, Operating Leases [Text Block] | NOTE 8: OPERATING LEASES The Company leases property for RV storage which is located in Oceano and is leased at $3,575 per month. The Company entered into a lease with the County of San Luis Obispo on 06/02/2020 which expires 06/02/2022 at which time there will be an option to renew. The Company has a five-year lease obligation for a copier. Rental expense under this operating lease is $384 per month. Future minimum lease payments under this obligation are as follows: For the Twelve Months Ending March 31, 2021 $ 4,608 2022 4,224 Total $ 8,832 Rent expense under these agreements was $23,953 and $2,483 for the six months ended March 31, 2021 and 2020, respectively, and $11,987 and $1,241 for the three months ended March 31, 2021 and 2020, respectively. |
EMPLOYEE RETIREMENT PLANS
EMPLOYEE RETIREMENT PLANS | 6 Months Ended |
Mar. 31, 2021 | |
Retirement Benefits [Abstract] | |
Retirement Benefits [Text Block] | NOTE 9: EMPLOYEE RETIREMENT PLANS The Company is the sponsor of a 401(k) profit sharing pension plan, which covers substantially all full-time employees. Employer contributions are discretionary and are determined on an annual basis. The Company’s matching portion of the 401(k) safe harbor plan was $32,147 and $38,540 for the six months ended March 31, 2021 and 2020, respectively, and $13,916 and $15,400 for the three months ended March 31, 2021 and 2020, respectively. |
COVID-19 Pandemic
COVID-19 Pandemic | 6 Months Ended |
Mar. 31, 2021 | |
Unusual or Infrequent Items, or Both [Abstract] | |
Unusual or Infrequent Items, or Both, Disclosure [Text Block] | NOTE 10: COVID-19 Pandemic Due to the uncertainty surrounding the recent COVID-19 pandemic, the length and severity of the outbreak, and the volatility in the world investment markets, there is uncertainty as to how these events will affect results of the Company’s operations going forward. However, the Company experienced minimal impact from the COVID-19 pandemic during the period ended March 31, 2021. |
PAYROLL PROTECTION PLAN LOAN
PAYROLL PROTECTION PLAN LOAN | 6 Months Ended |
Mar. 31, 2021 | |
Debt Disclosure [Abstract] | |
Long-term Debt [Text Block] | NOTE 11: PAYROLL PROTECTION PLAN LOAN On April 28, 2020, the Company (the “Borrower”) was granted a loan in the aggregate amount of $553,802, pursuant to the Paycheck Protection Program (the “PPP”) under Division A, Title I of the CARES Act, which was enacted March 27, 2020. The loan, which was in the form of a note dated April 28, 2020 issued by the borrower, matures on April 28, 2022 and bears interest at a rate of 0.98% per annum, payable monthly commencing on November 28, 2020. The note may be prepaid by the borrower at any time prior to maturity with no prepayment penalties. Funds from the loan may only be used for payroll costs, costs used to continue group health care benefits, mortgage payments, rent, utilities, and interest on other debt obligations incurred before February 15, 2020. The Company expects the note payable to be forgiven. Therefore, interest noted on the balance sheet will not be applied. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 6 Months Ended |
Mar. 31, 2021 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | NOTE 12: SUBSEQUENT EVENTS Events subsequent to March 31, 2021 have been evaluated through May 7, 2021, which is the date the financial statements were available to be issued. Management did not identify any subsequent events that required disclosure. |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 6 Months Ended |
Mar. 31, 2021 | |
Accounting Policies [Abstract] | |
Revenue from Contract with Customer [Policy Text Block] | Revenue from Contracts with Customers The Financial Accounting Standards Board (FASB) issued new guidance that created Topic 606, Revenue from Contracts with Customers Revenue Recognition Other Assets and Deferred Costs-Contracts with Customers Revenue primarily consists of recreational camping space rentals, revenue from recreational vehicle storage space and RV service and repairs, food and beverage sales and other ancillary goods and services. Revenue is recognized when spaces are occupied or goods and services have been delivered or rendered, respectively. Sales taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a customer, are excluded from revenue. Finally, the Company collects Transient Occupancy Taxes (TOT) and Tourism Business Improvement District (TBID) assessments from guests which are remitted to the City of Pismo Beach and County of San Luis Obispo and are excluded from revenues. As of March 31, 2021, September 30, 2020, and March 31, 2020, the Company had $77,401, $71,145, and $30,266 in TOT and TBID assessments due to the City of Pismo Beach and the County of San Luis Obispo included in accrued expenses on the combined balance sheet, respectively. Performance Obligations For performance obligations related to the Company accommodations and other ancillary goods and services, control transfers to the customer at a point in time. The Company’s principal terms of sale occur simultaneously when control of the goods and services are transferred to the customer and payment is accepted. The Company does not have any significant financing components. The Company does not disclose the value of unsatisfied performance obligations for contracts with an expected length of one year or less. Due to the nature of the business, the Company’s revenue is not significantly impacted by refunds. Cash payments received in advance of guests staying at the resort are refunded to guests if the guest cancels within the specified time period, before any services are rendered. Refunds related to services are generally recognized as an adjustment to the transaction price at the time the resort stay occurs or services are rendered. Disaggregation of Revenue Revenue from performance obligations satisfied at a point in time consists of sales related to the Company accommodations and other ancillary goods and services at the location in Pismo Beach, California. The geographic nature of the revenue could affect the nature, timing, amount and uncertainty of revenue and cash flows. Revenue from site rentals, storage rental, spotting, and store and accessory sales accounts for approximately 62%, 17%, 5%, and 14% of the Company total revenue for the period ended March 31, 2021, respectively. Revenue from other ancillary goods and services accounts for the remaining 2% of revenue for the period ended March 31, 2021. Customer Deposits The Company does not recognize revenue when a customer prepays for resort accommodations. Rather, the Company records a deferred revenue liability equal to the amount received. Revenue is then recognized when the customer stays at the resort. As of March 31, 2021, September 30, 2020, and March 31, 2020, the Company had customer deposits related to prepaid village accommodations of $3,027,365, $2,058,135, and $2,120,707 on the balance sheet as rental deposits, respectively. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents For purposes of the statements of cash flows, the Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. As of March 31, 2021, September 30, 2020, and March 31, 2020, the Company had $6,098, $6,096 and $6,094 of cash equivalents. |
Receivable [Policy Text Block] | Allowance for Doubtful Accounts It is the policy of management to review the outstanding accounts receivable at year-end, as well as historical bad debt write-offs, and establish an allowance for doubtful accounts for estimated uncollectible accounts. Management did not believe an allowance for doubtful accounts was necessary as of March 31, 2021, September 30, 2020, and March 31, 2020. |
Inventory, Policy [Policy Text Block] | Inventories Inventory has been valued at the lower of cost or market on a first-in, first-out basis. Inventory is comprised primarily of finished goods in the general store and in the RV repair shop. |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment All property and equipment is recorded at cost. Depreciation of property and equipment is computed using the straight line method based on the cost of the assets, less allowance for salvage value, where appropriate. Depreciation rates are based upon the following estimated useful lives: Building and resort improvements 5 to 40 years Furniture, fixtures, equipment and leasehold improvements 5 to 31.5 years Transportation equipment 5 to 10 years |
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Share The earnings per share are based on the 1,775 shares issued and outstanding. The financial statements report only basic earnings per share, as there are no potentially dilutive shares outstanding. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires the Company to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. |
Advertising Cost [Policy Text Block] | Advertising The Company follows the policy of charging the costs of non-direct advertising as incurred. Advertising expense was $6,336 and $7,225 for the six months ended March 31, 2021 and 2020, respectively, and $5,089 and $2,841 for the three months ended March 31, 2021 and 2020, respectively. Advertising expense was included in operating expenses on the statement of operations. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of Credit Risk At March 31, 2021, September 30, 2020, and March 31, 2020 the Company had cash deposits of $6,299,526, $4,591,597 and $3,257,123, respectively, in excess of the $250,000 federally insured limit with Pacific Premier Bank. However, because Pacific Premier Bank is a member of the Certificate of Deposit Account Registry Service (CDARS), large deposits are divided into smaller amounts and placed with other FDIC insured banks which are also members of the CDARS network. Then, those member banks issue CDs in amounts under $250,000, so that the entire deposit balance is eligible for FDIC insurance. |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company uses the asset-liability method of computing deferred taxes in accordance with ASC Income Taxes topic. ASC 740 requires, among other things, that if income is expected for the entire year, but there is a net loss to date, a tax benefit is recognized based on the annual effective tax rate. FASB ASC 740 also requires, among other things, the recognition and measurement of uncertain tax positions based on a "more likely than not" (likelihood greater than 50%) approach. As of March 31, 2021, management has considered its tax positions and believes that the Company did not maintain any uncertain tax positions under this approach and, accordingly, all tax positions have been fully recorded in the provision for income taxes. It is the policy of the Company to consistently classify interest and penalties associated with income tax expense separately from the provision for income taxes, and accordingly no interest or penalties associated with income taxes have been included in this calculation, or separately in the Statement of Operations and Retained Earnings. The Company does not expect any material changes through March 31, 2022. Although the Company does not maintain any uncertain tax positions, tax returns remain subject to examination by the Internal Revenue Service for fiscal years ending on or after September 30, 2018 and by the California Franchise Tax Board for fiscal years ending on or after September 30, 2017. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNRTING POLICIES (Tables) | 6 Months Ended |
Mar. 31, 2021 | |
Accounting Policies [Abstract] | |
Schedule Of Property Plant And Equipment Useful Life [Table Text Block] | Building and resort improvements 5 to 40 years Furniture, fixtures, equipment and leasehold improvements 5 to 31.5 years Transportation equipment 5 to 10 years |
PROPERTY AND EQUIPMENT (Tables)
PROPERTY AND EQUIPMENT (Tables) | 6 Months Ended |
Mar. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment [Table Text Block] | March 31, 2021 September 30, 2020 March 31, 2020 Land $ 10,394,747 $ 10,394,747 $ 10,394,747 Building and resort improvements 11,349,249 11,349,248 11,353,001 Furniture, fixtures, equipment and 685,798 679,303 692,755 Transportation equipment 794,974 794,974 768,755 Construction in progress 1,921,021 1,852,022 1,673,938 25,145,789 25,070,294 24,883,196 Less: accumulated depreciation (9,731,667) (9,533,099) (9,420,093) $ 15,414,122 $ 15,537,195 $ 15,463,103 |
CAPITAL LEASE OBLIGATIONS (Tabl
CAPITAL LEASE OBLIGATIONS (Tables) | 6 Months Ended |
Mar. 31, 2021 | |
Disclosure Text Block [Abstract] | |
Schedule Of Capital Lease Obligations [Table Text Block] | March 31, 2021 (Unaudited) September 30, 2020 (Audited) March 31, 2020 (Unaudited) A 2016 Hino truck leased from Donahue Transportation Services Corp, payable in monthly installments of $1,159, including interest at 4.532% per annum, through January 2023. $ 22,912 $ 29,261 $ 35,469 A 2018 Hino truck leased from Donahue Transportation Services Corp, payable in monthly installments of $1,147, including interest at 4.644% per annum, through September 2024. 42,744 48,552 54,228 A 2019 Hino truck leased from Donahue Transportation Services Corp, payable in monthly installments of $1,151, including interest at 4.181% per annum, through May 2025. 50,633 56,411 62,070 A 2019 Hino truck leased from Donahue Transportation Services Corp, payable in monthly installments of $1,151, including interest at 4.101% per annum, through December 2025. 57,207 62,874 68,425 A 2020 Hino truck leased from Donahue Transportation Services Corp, payable in monthly installments of $1,166, including interest at 5.406% per annum, through May 2027. 73,237 78,176 - 246,733 275,274 220,192 Less current portion (59,065) (54,749) (46,697) Total capital lease obligations $ 187,668 $ 220,525 $ 173,495 |
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | For the Twelve Months Ending March 31, 2021 $ 69,288 2022 65,329 2023 55,380 2024 46,392 2025 21,538 Thereafter 16,325 Present value of future minimum payments 274,252 Less amount representing interest (27,519) 246,733 Less current portion of capital lease obligations (59,065) Total capital lease obligations, net of current portion $ 187,668 |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 6 Months Ended |
Mar. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Three Months Ended March 31, Six Months Ended March 31, 2021 2020 2021 2020 Income tax (expense) benefit $ (184,300) (43,000) $ (330,300) $ (94,400) |
OPERATING LEASES (Tables)
OPERATING LEASES (Tables) | 6 Months Ended |
Mar. 31, 2021 | |
Disclosure Text Block [Abstract] | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | For the Twelve Months Ending March 31, 2021 $ 4,608 2022 4,224 Total $ 8,832 |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNRTING POLICIES (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2021 | Mar. 31, 2020 | Sep. 30, 2020 | |
SUMMARY OF SIGNIFICANT ACCOUNRTING POLICIES (Details) [Line Items] | |||||
Rental Deposits | $ 3,027,365 | $ 2,120,707 | $ 3,027,365 | $ 2,120,707 | $ 2,058,135 |
Cash Equivalents, at Carrying Value | 6,098 | 6,094 | $ 6,098 | 6,094 | 6,096 |
Weighted Average Number of Shares Outstanding, Basic and Diluted (in Shares) | 1,775 | ||||
Advertising Expense | 5,089 | 2,841 | $ 6,336 | 7,225 | |
Deposits | 6,299,526 | 3,257,123 | 6,299,526 | 3,257,123 | 4,591,597 |
Cash, FDIC Insured Amount | 250,000 | $ 250,000 | |||
Site Rentals [Member] | |||||
SUMMARY OF SIGNIFICANT ACCOUNRTING POLICIES (Details) [Line Items] | |||||
Concentration Risk, Percentage | 62.00% | ||||
Storage Rentals [Member] | |||||
SUMMARY OF SIGNIFICANT ACCOUNRTING POLICIES (Details) [Line Items] | |||||
Concentration Risk, Percentage | 17.00% | ||||
Spotting [Member] | |||||
SUMMARY OF SIGNIFICANT ACCOUNRTING POLICIES (Details) [Line Items] | |||||
Concentration Risk, Percentage | 5.00% | ||||
Store And Accessory [Member] | |||||
SUMMARY OF SIGNIFICANT ACCOUNRTING POLICIES (Details) [Line Items] | |||||
Concentration Risk, Percentage | 14.00% | ||||
Other Ancillary Goods And Services [Member] | |||||
SUMMARY OF SIGNIFICANT ACCOUNRTING POLICIES (Details) [Line Items] | |||||
Concentration Risk, Percentage | 2.00% | ||||
TOT And TBID [Member] | |||||
SUMMARY OF SIGNIFICANT ACCOUNRTING POLICIES (Details) [Line Items] | |||||
Accrued Liabilities for Commissions, Expense and Taxes | $ 77,401 | $ 30,266 | $ 77,401 | $ 30,266 | $ 71,145 |
SUMMARY OF SIGNIFICANT ACCOUN_4
SUMMARY OF SIGNIFICANT ACCOUNRTING POLICIES (Details) - Estimated Useful Lives | 6 Months Ended |
Mar. 31, 2021 | |
Minimum [Member] | Building and Building Improvements [Member] | |
SUMMARY OF SIGNIFICANT ACCOUNRTING POLICIES (Details) - Estimated Useful Lives [Line Items] | |
Property, Plant and Equipment, Useful Lives | 5 years |
Minimum [Member] | Furniture Fixtures Equipment And Leasehold Improvements [Member] | |
SUMMARY OF SIGNIFICANT ACCOUNRTING POLICIES (Details) - Estimated Useful Lives [Line Items] | |
Property, Plant and Equipment, Useful Lives | 5 years |
Minimum [Member] | Transportation Equipment [Member] | |
SUMMARY OF SIGNIFICANT ACCOUNRTING POLICIES (Details) - Estimated Useful Lives [Line Items] | |
Property, Plant and Equipment, Useful Lives | 5 years |
Maximum [Member] | Building and Building Improvements [Member] | |
SUMMARY OF SIGNIFICANT ACCOUNRTING POLICIES (Details) - Estimated Useful Lives [Line Items] | |
Property, Plant and Equipment, Useful Lives | 40 years |
Maximum [Member] | Furniture Fixtures Equipment And Leasehold Improvements [Member] | |
SUMMARY OF SIGNIFICANT ACCOUNRTING POLICIES (Details) - Estimated Useful Lives [Line Items] | |
Property, Plant and Equipment, Useful Lives | 31 years 6 months |
Maximum [Member] | Transportation Equipment [Member] | |
SUMMARY OF SIGNIFICANT ACCOUNRTING POLICIES (Details) - Estimated Useful Lives [Line Items] | |
Property, Plant and Equipment, Useful Lives | 10 years |
PROPERTY AND EQUIPMENT (Details
PROPERTY AND EQUIPMENT (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2021 | Mar. 31, 2020 | Sep. 30, 2020 | |
Property, Plant and Equipment [Abstract] | |||||
Depreciation, Depletion and Amortization | $ 98,687 | $ 101,602 | $ 198,568 | $ 204,700 | |
Capital Leased Assets, Gross | 405,819 | 398,770 | 405,819 | 398,770 | $ 405,819 |
Capital Leases, Net Investment in Direct Financing Leases, Accumulated Amortization | 234,882 | 233,750 | 234,882 | 233,750 | $ 196,991 |
Amortization of Leased Asset | $ 19,035 | $ 16,206 | $ 37,891 | $ 32,415 |
PROPERTY AND EQUIPMENT (Detai_2
PROPERTY AND EQUIPMENT (Details) - Property and equipment - USD ($) | Mar. 31, 2021 | Sep. 30, 2020 | Mar. 31, 2020 |
Property and equipment [Abstract] | |||
Land | $ 10,394,747 | $ 10,394,747 | $ 10,394,747 |
Building and resort improvements | 11,349,249 | 11,349,248 | 11,353,001 |
Furniture, fixtures, equipment and leasehold improvements | 685,798 | 679,303 | 692,755 |
Transportation equipment | 794,974 | 794,974 | 768,755 |
Construction in progress | 1,921,021 | 1,852,022 | 1,673,938 |
Property and Equipment, Gross | 25,145,789 | 25,070,294 | 24,883,196 |
Less accumulated depreciation | (9,731,667) | (9,533,099) | (9,420,093) |
Property and Equipment, Net | $ 15,414,122 | $ 15,537,195 | $ 15,463,103 |
LINE OF CREDIT (Details)
LINE OF CREDIT (Details) | 6 Months Ended |
Mar. 31, 2021USD ($) | |
Debt Disclosure [Abstract] | |
Line of Credit Facility, Maximum Borrowing Capacity | $ 500,000 |
Letters of Credit Outstanding, Amount | 416,062 |
Line of Credit Facility, Remaining Borrowing Capacity | $ 83,938 |
Line of Credit Facility, Expiration Date | Apr. 1, 2021 |
CAPITAL LEASE OBLIGATIONS (Deta
CAPITAL LEASE OBLIGATIONS (Details) - Capital Lease Obligations - USD ($) | Mar. 31, 2021 | Sep. 30, 2020 | Mar. 31, 2020 |
CAPITAL LEASE OBLIGATIONS (Details) - Capital Lease Obligations [Line Items] | |||
Capital lease obligations | $ 246,733 | $ 275,274 | $ 220,192 |
Less current portion | (59,065) | (54,749) | (46,697) |
Total capital lease obligations | 187,668 | 220,525 | 173,495 |
2016 Capital Lease With Donahue Transportation Corp [Member] | |||
CAPITAL LEASE OBLIGATIONS (Details) - Capital Lease Obligations [Line Items] | |||
Capital lease obligations | 22,912 | 29,261 | 35,469 |
2018 Capital Lease With Donahue Transportation Corp [Member] | |||
CAPITAL LEASE OBLIGATIONS (Details) - Capital Lease Obligations [Line Items] | |||
Capital lease obligations | 42,744 | 48,552 | 54,228 |
2019 Capital Lease With Donahue Transportation Corp Through May 2025 [Member] | |||
CAPITAL LEASE OBLIGATIONS (Details) - Capital Lease Obligations [Line Items] | |||
Capital lease obligations | 50,633 | 56,411 | 62,070 |
2019 Capital Lease With Donahue Transportation Corp Through December 2025 [Member] | |||
CAPITAL LEASE OBLIGATIONS (Details) - Capital Lease Obligations [Line Items] | |||
Capital lease obligations | 57,207 | 62,874 | 68,425 |
2020 Capital Lease With Donahue Transportation Corp Through May 2027 [Member] | |||
CAPITAL LEASE OBLIGATIONS (Details) - Capital Lease Obligations [Line Items] | |||
Capital lease obligations | $ 73,237 | $ 78,176 |
CAPITAL LEASE OBLIGATIONS (De_2
CAPITAL LEASE OBLIGATIONS (Details) - Capital Lease Obligations (Parentheticals) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | Sep. 30, 2020 | |
2016 Capital Lease With Donahue Transportation Corp [Member] | |||
CAPITAL LEASE OBLIGATIONS (Details) - Capital Lease Obligations (Parentheticals) [Line Items] | |||
Monthly Installments | $ 1,159 | $ 1,159 | $ 1,159 |
Interest | 4.532% | 4.532% | 4.532% |
2018 Capital Lease With Donahue Transportation Corp [Member] | |||
CAPITAL LEASE OBLIGATIONS (Details) - Capital Lease Obligations (Parentheticals) [Line Items] | |||
Monthly Installments | $ 1,147 | $ 1,147 | $ 1,147 |
Interest | 4.644% | 4.644% | 4.644% |
2019 Capital Lease With Donahue Transportation Corp Through May 2025 [Member] | |||
CAPITAL LEASE OBLIGATIONS (Details) - Capital Lease Obligations (Parentheticals) [Line Items] | |||
Monthly Installments | $ 1,151 | $ 1,151 | $ 1,151 |
Interest | 4.181% | 4.181% | 4.181% |
2019 Capital Lease With Donahue Transportation Corp Through December 2025 [Member] | |||
CAPITAL LEASE OBLIGATIONS (Details) - Capital Lease Obligations (Parentheticals) [Line Items] | |||
Monthly Installments | $ 1,151 | $ 1,151 | $ 1,151 |
Interest | 4.101% | 4.101% | 4.101% |
2020 Capital Lease With Donahue Transportation Corp Through May 2027 [Member] | |||
CAPITAL LEASE OBLIGATIONS (Details) - Capital Lease Obligations (Parentheticals) [Line Items] | |||
Monthly Installments | $ 1,166 | $ 1,166 | |
Interest | 5.406% | 5.406% |
CAPITAL LEASE OBLIGATIONS (De_3
CAPITAL LEASE OBLIGATIONS (Details) - Future minimum lease payments - USD ($) | Mar. 31, 2021 | Sep. 30, 2020 | Mar. 31, 2020 |
Future minimum lease payments [Abstract] | |||
2021 | $ 69,288 | ||
2022 | 65,329 | ||
2023 | 55,380 | ||
2024 | 46,392 | ||
2025 | 21,538 | ||
Thereafter | 16,325 | ||
Present value of future minimum payments | 274,252 | ||
Less amount representing interest | (27,519) | ||
Present value of lease payments | 246,733 | ||
Less current portion of capital lease obligations | (59,065) | $ (54,749) | $ (46,697) |
Total capital lease obligations, net of current portion | $ 187,668 | $ 220,525 | $ 173,495 |
COMMON STOCK (Details)
COMMON STOCK (Details) | 6 Months Ended |
Mar. 31, 2021 | |
Stockholders' Equity Note [Abstract] | |
Period Of Free Use Of Resort By Each Shareholder Per Year | 45 days |
INCOME TAXES (Details)
INCOME TAXES (Details) - USD ($) | Mar. 31, 2021 | Sep. 30, 2020 | Mar. 31, 2020 |
Income Tax Disclosure [Abstract] | |||
Deferred Tax Liabilities, Gross | $ 375,400 | $ 423,100 | $ 435,600 |
INCOME TAXES (Details) - Provis
INCOME TAXES (Details) - Provision for income taxes - USD ($) | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2021 | Mar. 31, 2020 | |
Provision for income taxes [Abstract] | ||||
Income tax (expense) benefit | $ (184,300) | $ (43,000) | $ (330,300) | $ (94,400) |
OPERATING LEASES (Details)
OPERATING LEASES (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2021 | Mar. 31, 2020 | |
OPERATING LEASES (Details) [Line Items] | ||||
Operating Leases, Rent Expense | $ 11,987 | $ 1,241 | $ 23,953 | $ 2,483 |
Storage Lot In Oceano [Member] | ||||
OPERATING LEASES (Details) [Line Items] | ||||
Operating Leases Rent Expense Periodic Payment | 3,575 | |||
Copier [Member] | ||||
OPERATING LEASES (Details) [Line Items] | ||||
Operating Leases Rent Expense Periodic Payment | $ 384 |
OPERATING LEASES (Details) - Fu
OPERATING LEASES (Details) - Future minimum lease payments | Mar. 31, 2021USD ($) |
Future minimum lease payments [Abstract] | |
2021 | $ 4,608 |
2022 | 4,224 |
Total | $ 8,832 |
EMPLOYEE RETIREMENT PLANS (Deta
EMPLOYEE RETIREMENT PLANS (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2021 | Mar. 31, 2020 | |
Retirement Benefits [Abstract] | ||||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 13,916 | $ 15,400 | $ 32,147 | $ 38,540 |
PAYROLL PROTECTION PLAN LOAN (D
PAYROLL PROTECTION PLAN LOAN (Details) - PPP Loan [Member] | Apr. 28, 2020USD ($) |
PAYROLL PROTECTION PLAN LOAN (Details) [Line Items] | |
Proceeds from Issuance of Long-term Debt | $ 553,802 |
Debt Instrument, Maturity Date | Apr. 28, 2022 |
Debt Instrument, Interest Rate, Stated Percentage | 0.98% |