Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2016
Sep. 30, 2015
CURRENT ASSETS:    
Cash $ 2,528 $ 5,932
Accounts receivable, less allowances (2016 - $191; 2015 - $524) 11,569 6,156
Other current assets 1,500 942
Total current assets 15,597 13,030
Property and equipment, net 611 706
Other long-term assets 34 22
Goodwill 18,590 8,220
Intangible assets, net 11,094 4,896
TOTAL ASSETS 45,926 26,874
CURRENT LIABILITIES:    
Short-term debt 7,127 2,850
Accounts payable 2,224 825
Accrued compensation 3,116 2,687
Other current liabilities 692 532
Short-term portion of subordinated debt 1,285
Contingent consideration 1,750 500
Total current liabilities 16,194 7,394
Deferred rent 162 243
Subordinated debt 4,981
Other long-term liabilities 56
Total long-term liabilities 5,199 243
SHAREHOLDERS' EQUITY    
Preferred stock; no par value; authorized - 20,000 shares; issued and outstanding - none
Common stock, no-par value; authorized - 200,000 shares; issued and outstanding - 9,379 shares at September 30, 2016 and 8,833 shares at September 30, 2015
Additional paid in capital 37,615 33,492
Accumulated deficit (13,082) (14,255)
Total shareholders' equity 24,533 19,237
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 45,926 $ 26,874