Balance Sheet

v3.20.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2020
Sep. 30, 2019
CURRENT ASSETS:    
Cash $ 2,379 $ 4,055
Accounts receivable, less allowances ($2,250 and $515, respectively) 17,262 20,826
Prepaid expenses and other current assets 1,583 2,221
Total current assets 21,224 27,102
Property and equipment, net 812 852
Goodwill 72,293 72,293
Intangible assets, net 21,086 23,881
Right-of-use assets 5,497
Other long-term assets 286 353
TOTAL ASSETS 121,198 124,481
CURRENT LIABILITIES:    
Accounts payable 2,459 3,733
Acquisition deposit for working capital guarantee 183 783
Accrued compensation 5,820 5,212
Short-term portion of term loan, net of discount 4,668
Subordinated debt 1,000
Current operating lease liabilities 1,616
Other current liabilities 1,629 3,172
Total current liabilities 11,707 18,568
Deferred taxes 367 300
Revolving credit facility 15,015 14,215
Term loan, net of discount 40,772 36,029
Subordinated debt 1,000  
Subordinated convertible debt (includes $1,428 and $1,269, net of discount, respectively, due to related parties) 18,113 17,954
Noncurrent operating lease liabilities 4,396
Other long-term liabilities 159 595
Total long-term liabilities 79,822 69,093
Commitments and contingencies
MEZZANINE EQUITY    
Preferred stock value
Total mezzanine equity 27,695 27,611
SHAREHOLDERS' EQUITY    
Common stock, no-par value; authorized - 200,000 shares; issued and outstanding - 14,557 shares at March 31, 2020 and 12,538 shares at September 30, 2019, respectively
Additional paid in capital 51,746 49,990
Accumulated deficit (49,772) (40,781)
Total shareholders' equity 1,974 9,209
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 121,198 124,481
Series A Preferred Stock [Member]    
MEZZANINE EQUITY    
Preferred stock value
Series B Preferred Stock [Member]    
MEZZANINE EQUITY    
Preferred stock value 27,551 27,551
Series C Preferred Stock [Member]    
MEZZANINE EQUITY    
Preferred stock value $ 144 $ 60

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