Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

Property and Equipment

6 Months Ended

Mar. 31, 2016

Property and equipment, net consisted of the following:

	Useful		March 31,			September 30,
(In thousands)	Lives		2016			2015

Computer software		5 years	$	1,447		$	1,447
Office equipment, furniture and fixtures and leasehold improvements		2 to 10 years		2,412			2,278
Total property and equipment, at cost				3,859			3,725
Accumulated depreciation and amortization				(3,161	)		(3,019	)
Property and equipment, net			$	698		$	706

Leasehold improvements are amortized over the term of the lease.

Depreciation expense for the three and six month periods ended March 31, 2016 and 2015 was approximately $76,000 and $142,000, and $43,000 and $80,000, respectively.