Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

Property and Equipment

3 Months Ended

Dec. 31, 2012

4. Property and Equipment

Property and equipment, net consisted of the following:

	Useful Lives	December 31		,	September 30		,
(In thousands)		2012			2012

Computer software	5 years	$	1,447		$	1,447
Office equipment, furniture and fixtures and leasehold improvements	2 to 10 years		2,395			2,311

Total property and equipment, at cost			3,842			3,758
Accumulated depreciation and amortization			(3,279	)		(3,240	)

Property and equipment, net		$	563		$	518

Leasehold improvements are amortized over the term of the lease.

Depreciation expense for the three month period ended December 31, 2012 and 2011 was approximately $42,000 and $34,000, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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