Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (unaudited)

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Condensed Consolidated Balance Sheets (unaudited) - USD ($)
$ in Thousands
Jun. 30, 2015
Sep. 30, 2014
CURRENT ASSETS:    
Cash and cash equivalents $ 1,113 $ 168
Accounts receivable, less allowances (June - $435; September - $395) 5,625 4,907
Other current assets 503 1,650
Total current assets 7,241 6,725
Property and equipment, net 414 453
Goodwill 6,396 1,106
Intangible assets, net 3,469 1,560
TOTAL ASSETS 17,520 9,844
CURRENT LIABILITIES:    
Short-term debt 3,197 2,711
Accounts payable 547 910
Accrued compensation $ 1,448 2,633
Convertible note payable - current portion, net of discount   35
Derivative liability   131
Other current liabilities $ 540 1,214
Total current liabilities $ 5,732 7,634
Convertible note payable, net of discount   132
Other long-term liabilities   13
Total long-term liabilities   $ 145
SHAREHOLDERS' EQUITY    
Convertible preferred stock; no par value; authorized - 20,000 shares; issued and outstanding - 829 shares at June 30, 2015 and none at September 30, 2014 $ 8,118  
Common stock, no-par value; authorized - 200,000 shares; issued and outstanding - 32,058 shares at June 30, 2015 and 25,899 shares at September 30, 2014    
Additional paid in capital $ 16,597 $ 11,658
Accumulated deficit (12,927) (9,593)
Total shareholders' equity 11,788 2,065
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 17,520 $ 9,844