Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

Property and Equipment

3 Months Ended

Dec. 31, 2014

Property and equipment, net consisted of the following:

(In thousands)	Useful Lives	December 31 2014			September 30 2014

Computer software	5 years	$	1,447		$	1,447
Office equipment, furniture and fixtures and leasehold improvements	2 to 10 years		1,413			1,413
Total property and equipment, at cost			2,860			2,860
Accumulated depreciation and amortization			(2,429	)		(2,407	)
Property and equipment, net		$	431		$	453

Leasehold improvements are amortized over the term of the lease.

Depreciation expense for the three month periods ended December 31, 2014 and 2013 was approximately $37,000 and $44,000, respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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