Property and Equipment

3 Months Ended

Dec. 31, 2015

Property and equipment, net consisted of the following:

	Useful	December 31,			September 30,
(In thousands)	Lives	2015			2015

Computer software	5 years	$	1,447		$	1,447
Office equipment, furniture and fixtures and leasehold improvements	2 to 10 years		2,313			2,278
Total property and equipment, at cost			3,760			3,725
Accumulated depreciation and amortization			(3,085	)		(3,019	)
Property and equipment, net		$	675		$	706

Leasehold improvements are amortized over the term of the lease.

Depreciation expense for the three month periods ended December 31, 2015 and 2014 was approximately $66,000 and $37,000, respectively.