Balance Sheet

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2018
Sep. 30, 2017
CURRENT ASSETS:    
Cash $ 2,637 $ 2,785
Accounts receivable, less allowances (June - $897 and September - $1,712) 21,166 23,178
Other current assets 1,853 3,014
Total current assets 25,656 28,977
Property and equipment, net 850 914
Other long-term assets 400 282
Goodwill 76,593 76,593
Intangible assets, net 30,862 35,049
TOTAL ASSETS 134,361 141,815
CURRENT LIABILITIES:    
Revolving credit facility 10,200 7,904
Acquisition deposit for working capital guarantee 1,500 1,500
Accrued interest 1,510 2,175
Accounts payable 2,030 3,243
Accrued compensation 5,188 7,394
Other current liabilities 385 515
Short-term portion of subordinated debt 419 1,225
Short-term portion of term-note, net of discount 6,551 3,433
Total current liabilities 27,783 27,389
Deferred rent 400 334
Deferred taxes 1,248 958
Term-loan, net of debt discounts 37,364 42,018
Subordinated debt 1,000 1,000
Subordinated convertible debt 16,685 16,685
Other long-term liabilities 18 35
Total long-term liabilities 56,715 61,030
Commitments and contingencies
SHAREHOLDERS' EQUITY    
Common stock, no-par value; authorized - 200,000 shares; issued and outstanding - 10,609 and 9,879 at June 30, 2018 and September 30, 2017, respectively
Additional paid in capital 43,085 39,517
Accumulated deficit (22,010) (15,454)
Total shareholders' equity 21,075 24,063
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 134,361 141,815
Series A Preferred Stock    
CURRENT LIABILITIES:    
Preferred stock
Series B Preferred Stock    
CURRENT LIABILITIES:    
Preferred stock $ 28,788 $ 29,333

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