Balance Sheet

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2018
Sep. 30, 2018
CURRENT ASSETS:    
Cash $ 3,500 $ 3,213
Accounts receivable, less allowances ($302 and $302, respectively) 19,047 20,755
Prepaid expenses and other current assets 2,452 2,266
Total current assets 24,999 26,234
Property and equipment, net 849 891
Goodwill 76,593 76,593
Intangible assets, net 28,070 29,467
Other long-term assets 394 416
TOTAL ASSETS 130,905 133,601
CURRENT LIABILITIES:    
Accounts payable 2,856 2,523
Acquisition deposit for working capital guarantee 883 883
Accrued compensation 4,215 5,212
Short-term portion of subordinated debt 106
Short-term portion of term loan, net of discount 3,226 2,331
Other current liabilities 2,274 2,064
Total current liabilities 13,454 13,119
Deferred taxes 668 146
Revolving credit facility 12,676 11,925
Term loan, net of discounts 38,466 40,253
Subordinated debt 1,000 1,000
Subordinated convertible debt 16,685 16,685
Other long-term liabilities 535 583
Total long-term liabilities 70,030 70,592
Commitments and contingencies
SHAREHOLDERS' EQUITY    
Common stock, no-par value; authorized - 200,000 shares; issued and outstanding - 11,204 shares at December 31, 2018 and 10,783 shares at September 30, 2018, respectively
Additional paid in capital 46,340 44,120
Accumulated deficit (26,470) (23,018)
Total shareholders' equity 19,870 21,102
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 130,905 133,601
Series A Preferred Stock    
CURRENT LIABILITIES:    
Preferred stock
Series B Preferred Stock    
CURRENT LIABILITIES:    
Preferred stock $ 27,551 $ 28,788

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