Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
shares in Thousands
3 Months Ended
Dec. 31, 2021
Dec. 31, 2020
NET REVENUES:    
Contract staffing services $ 36,684,000 $ 31,248,000
Direct hire placement services 6,163,000 3,395,000
NET REVENUES 42,847,000 34,643,000
Cost of contract services 27,265,000 22,063,000
GROSS PROFIT 15,582,000 12,580,000
Selling, general and administrative expenses (including noncash stock-based compensation expense of $147 and $311, respectively) 12,359,000 9,487,000
Depreciation expense 86,000 73,000
Amortization of intangible assets 1,014,000 1,044,000
Goodwill impairment charge 2,150,000 0
(LOSS) INCOME FROM OPERATIONS (27,000) 1,976,000
Gain on extinguishment of debt 16,773,000 0
Interest expense (107,000) (2,686,000)
INCOME (LOSS) BEFORE INCOME TAX BENEFIT 16,639,000 (710,000)
Provision for income tax (benefit) (29,000) (395,000)
NET INCOME (LOSS) $ 16,668,000 $ (315,000)
BASIC EARNINGS (LOSS) PER SHARE $ 0.15 $ (0.02)
DILUTED EARNINGS (LOSS) PER SHARE $ 0.14 $ (0.02)
WEIGHTED AVERAGE SHARES OUTSTANDING:    
BASIC 114,100 17,667
DILUTED 115,542 17,667