Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

Property and Equipment

9 Months Ended

Jun. 30, 2015

Property and equipment, net consisted of the following:

	Useful	June 30,			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		1,429			1,413
Total property and equipment, at cost			2,876			2,860
Accumulated depreciation and amortization			(2,462	)		(2,407	)
Property and equipment, net		$	414		$	453

Leasehold improvements are amortized over the term of the lease.

Depreciation expense for the three and nine month periods ended June 30, 2015 and 2014 was approximately $32,000 and $110,000, and $38,000 and $120,000, respectively.