Note B - Commitments and Facilities |
12 Months Ended | ||||||||||||||||||||||||||||||
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Sep. 30, 2011 | |||||||||||||||||||||||||||||||
| Leases of Lessee Disclosure [Text Block] |
NOTE
B – COMMITMENTS AND
FACILITIES
Plymouth
Facility: The Company leases office and
manufacturing facilities in Plymouth, MN for its ongoing
operations. This operating lease expires November 30, 2013.
The Company also leases various pieces of office equipment.
For
the years ended September 30, 2011 and 2010, total rent
expense was $384,000 and $337,000 respectively. At September
30, 2011, the future minimum lease payments required under
operating lease agreements are as follows:
Aberdeen
Facility: During the second quarter of
fiscal 2011, the Company received and accepted a purchase
offer for the facility. In June 2011, the Company
completed the sale of the facility and land in the amount of
$725,000. The final proceeds to the Company after transaction
costs were $660,000. We recorded a gain on the sale of these
assets of approximately $37,000 in the third quarter of
fiscal 2011.
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