Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

Property and Equipment

6 Months Ended

Mar. 31, 2015

Property and equipment, net consisted of the following:

	Useful	March 31,			September 30,
(In thousands)	Lives	2015			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			(2,464	)		(2,407	)
Property and equipment, net		$	396		$	453

Leasehold improvements are amortized over the term of the lease.

Depreciation expense for the three and six month periods ended March 31, 2015 and 2014 was approximately $35,000 and $78,000, and $37,000 and $75,000, 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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