Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Dec. 31, 2015 | Feb. 11, 2016 | |
Entity Registrant Name | Bridgeline Digital, Inc. | |
Entity Central Index Key | 1,378,590 | |
Trading Symbol | blin | |
Current Fiscal Year End Date | --09-30 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 5,326,615 | |
Document Type | 10-Q | |
Document Period End Date | Dec. 31, 2015 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Dec. 31, 2015 | Sep. 30, 2015 |
Current assets: | ||
Cash and cash equivalents | $ 580 | $ 337 |
Accounts receivable and unbilled receivables, net | 2,507 | 2,463 |
Prepaid expenses and other current assets | 624 | 680 |
Total current assets | 3,711 | 3,480 |
Equipment and improvements, net | 1,084 | 1,315 |
Intangible assets, net | 921 | 1,028 |
Goodwill | 12,641 | 12,641 |
Other assets | 635 | 723 |
Total assets | 18,992 | 19,187 |
Current liabilities: | ||
Accounts payable | 1,282 | 1,626 |
Accrued liabilities | 1,396 | 1,046 |
Accrued contingent consideration | 301 | 468 |
Debt, current | 500 | 92 |
Capital lease obligations, current | 216 | 320 |
Deferred revenue | 1,592 | 1,542 |
Total current liabilities | 5,287 | 5,094 |
Debt, net of current portion | 7,879 | 7,695 |
Other long term liabilities | 784 | 726 |
Total liabilities | $ 13,950 | $ 13,515 |
Commitments and contingencies | ||
Stockholders’ equity: | ||
Preferred stock - $0.001 par value; 1,000,000 shares authorized; 211,393 at December 31, 2015 and 208,222 at Septermber 30, 2015, issued and outstanding (liquidation preference $2,146) | ||
Common stock - $0.001 par value; 50,000,000 shares authorized; 5,326,615 at December 31, 2015 and 4,637,684 at September 30, 2015, issued and outstanding | $ 5 | $ 5 |
Additional paid-in capital | 51,183 | 50,434 |
Accumulated deficit | (45,791) | (44,411) |
Accumulated other comprehensive loss | (355) | (356) |
Total stockholders’ equity | 5,042 | 5,672 |
Total liabilities and stockholders’ equity | $ 18,992 | $ 19,187 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2015 | Sep. 30, 2015 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 1,000,000 | 1,000,000 |
Preferred stock, shares issued (in shares) | 211,393 | 208,222 |
Preferred stock, shares outstanding (in shares) | 211,393 | 208,222 |
Preferred stock, liquidation preference | $ 2,146 | |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 50,000,000 | 50,000,000 |
Common stock, shares issued (in shares) | 5,326,615 | 4,637,684 |
Common stock, shares outstanding (in shares) | 5,326,615 | 4,637,684 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Net revenue: | ||
Digital engagement services | $ 2,373,000 | $ 3,231,000 |
Subscription and perpetual licenses | 1,523,000 | 1,380,000 |
Managed service hosting | 347,000 | 401,000 |
Total net revenue | 4,243,000 | 5,012,000 |
Cost of revenue: | ||
Digital engagement services | 1,454,000 | 2,564,000 |
Subscription and perpetual licenses | 558,000 | 430,000 |
Managed service hosting | 77,000 | 74,000 |
Total cost of revenue | 2,089,000 | 3,068,000 |
Gross profit | 2,154,000 | 1,944,000 |
Operating expenses: | ||
Sales and marketing | 1,068,000 | 1,810,000 |
General and administrative | 862,000 | 993,000 |
Research and development | 341,000 | 602,000 |
Depreciation and amortization | 356,000 | $ 452,000 |
Restructuring charges | 586,000 | |
Total operating expenses | 3,213,000 | $ 3,857,000 |
Loss from operations | (1,059,000) | (1,913,000) |
Interest and other expense, net | (283,000) | (162,000) |
Loss before income taxes | (1,342,000) | (2,075,000) |
Provision for income taxes | 6,000 | 35,000 |
Net loss | (1,348,000) | (2,110,000) |
Dividends on convertible preferred stock | (32,000) | (21,000) |
Net loss applicable to common shareholders | $ (1,380,000) | $ (2,131,000) |
Net loss per share attributable to common shareholders: | ||
Basic and diluted (in dollars per share) | $ (0.25) | $ (0.49) |
Number of weighted average shares outstanding: | ||
Basic and diluted (in shares) | 5,164,809 | 4,343,023 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Net Loss | $ (1,348) | $ (2,110) |
Foreign currency translation adjustment | 1 | (5) |
Comprehensive loss | $ (1,347) | $ (2,115) |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Cash flows from operating activities: | ||
Net loss | $ (1,348) | $ (2,110) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Amortization of intangible assets | 107 | 152 |
Depreciation | 231 | 279 |
Other amortization | 198 | 146 |
Stock-based compensation | $ 72 | 89 |
Change in deferred taxes | 15 | |
Changes in operating assets and liabilities | ||
Accounts receivable and unbilled receivables | $ (44) | 165 |
Prepaid expenses and other assets | 60 | 255 |
Accounts payable and accrued liabilities | (18) | (245) |
Deferred revenue | 50 | 34 |
Other liabilities | 5 | (27) |
Total adjustments | 661 | 863 |
Net cash used in operating activities | $ (687) | (1,247) |
Cash flows used in investing activities: | ||
Purchase of equipment and improvements | (54) | |
Software development capitalization costs | $ (44) | (21) |
Net cash used in investing activities | $ (44) | (75) |
Cash flows provided by financing activities: | ||
Proceeds from employee stock purchase plan | 2 | |
Proceeds from issuance of 200,000 shares of preferred stock, net of issuance costs | $ 1,776 | |
Proceeds from issuance of 680,000 shares of common stock, net of issuance costs | $ 669 | |
Proceeeds from bank term loan | 500 | $ 610 |
Proceeds from term notes from stockholder | 500 | $ 500 |
Borrowing on bank line of credit | 108 | |
Payments on bank term loan | (250) | $ (1,000) |
Payments on bank line of credit | $ (336) | (461) |
Payments on subordinated promissory notes | (7) | |
Contingent acquisition payments | $ (113) | (180) |
Principal payments on capital leases | (105) | (125) |
Net cash provided by financing activities | 973 | 1,115 |
Effect of exchange rate changes on cash and cash equivalents | 1 | (5) |
Net increase(decrease) in cash and cash equivalents | 243 | (212) |
Cash and cash equivalents at beginning of period | 337 | 1,256 |
Cash and cash equivalents at end of period | 580 | 1,044 |
Supplemental disclosures of cash flow information: | ||
Interest | 67 | 55 |
Income taxes | $ 3 | 2 |
Non cash investing and financing activities: | ||
Equipment purchased under capital leases | 172 | |
Other assets included in accounts payable | 19 | |
Accrued dividends on convertible preferred stock | $ 32 | $ 21 |
Condensed Consolidated Stateme7
Condensed Consolidated Statements of Cash Flows (Unaudited) (Parentheticals) - shares | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Preferred Stock [Member] | ||
Stock Issued During Period, Shares, New Issues | 200,000 | |
Common Stock [Member] | ||
Stock Issued During Period, Shares, New Issues | 680,000 |
Note 1 - Description of Busines
Note 1 - Description of Business | 3 Months Ended |
Dec. 31, 2015 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. Description of Business Overview Bridgeline Digital, The Digital Engagement Company™, helps customers maximize the performance of their full digital experience - from websites and intranets to online stores and campaigns. Bridgeline’s iAPPS® platform deeply integrates Web Content Management, eCommerce, eMarketing, Social Media management, and Web Analytics to help marketers deliver digital experiences that attract, engage and convert their customers across all channels. Bridgeline’s iAPPS platform combined with its digital services assists customers in maximizing on-line revenue, improving customer service and loyalty, enhancing employee knowledge, and reducing operational costs. The iAPPSds (“distributed subscription”) product is a platform that empowers franchise and large dealer networks with state-of-the-art web engagement management while providing superior oversight of corporate branding. iAPPSds deeply integrates content management, eCommerce, eMarketing and web analytics and is a self-service web platform that is offered to each authorized franchise or dealer for a monthly subscription fee. Our iAPPSdsr platform, released in 2015, targets the growing multi-unit organizations with 10-500 locations providing them with powerful web engagement tools while maintaining corporate brand control and consistency. The iAPPS platform is delivered through a cloud-based SaaS (“Software as a Service”) multi-tenant business model, whose flexible architecture provides customers with state of the art deployment providing maintenance, daily technical operation and support; or via a traditional perpetual licensing business model, in which the iAPPS software resides on a dedicated server in either the customer’s facility or Bridgeline’s co-managed hosting facility. The iAPPS Platform is an award-winning application. Our teams of Microsoft Gold© certified developers have won over 100 industry related awards. In 2015, the SIIA (Software and Information Industry Association) awarded iAPPS Content Manager, the 2015 SIIA CODiE Award for Best Web Content Management Platform. Also in 2015, EContent . KMWorld Magazine Editors selected Bridgeline Digital as one of the 100 Companies That Matter in Knowledge Management and also selected iAPPS as a Trend Setting Product in 2013. Bridgeline Digital was incorporated under the laws of the State of Delaware on August 28, 2000. Locations The Company’s corporate office is located north of Boston, Massachusetts. The Company maintains regional field offices serving the following geographical locations: Atlanta, GA; Boston, MA; Chicago, IL; Denver, CO; New York, NY; Dallas, TX; San Luis Obispo, CA; and Tampa, FL. The Company has a wholly-owned subsidiary, Bridgeline Digital Pvt. Ltd. located in Bangalore, India. Reverse Stock Split On May 4, 2015, the Company’s Shareholders and the Board of Directors approved a reverse stock split pursuant to which all classes of our issued and outstanding shares of common stock at the close of business on such date were combined and reconstituted into a smaller number of shares of common stock in a ratio of 1 share of common stock for every 5 shares of common stock (“1-for-5 reverse stock split”). The 1-for-5 reverse stock split was effective as of close of business on May 7, 2015 and the Company’s stock began trading on a split-adjusted basis on May 8, 2015. The reverse stock split reduced the number of shares of the Company’s common stock currently outstanding from approximately 22 million shares to approximately 4.4 million shares. Proportional adjustments have been made to the conversion and exercise prices of the Company’s outstanding convertible preferred stock, warrants, restricted stock awards, convertible notes and stock options, and to the number of shares issued and issuable under the Company’s Amended and Restated Stock Incentive Plan. Upon the effectiveness of the 1-for-5 reverse stock split, each five shares of the Company’s issued and outstanding common stock were automatically combined and converted into one issued and outstanding share of common stock, par value $0.001. The Company did not issue any fractional shares in connection with the reverse stock split. Instead, fractional share interests were rounded up to the next largest whole share. The reverse stock split does not modify the rights or preferences of the common stock. The number of authorized shares of the Company’s common stock remains at 50 million shares and the par value remains $0.001. The accompanying consolidated financial statements and footnotes have been retroactively adjusted to reflect the effects of the 1-for-5 reverse stock split. Liquidity The Company has incurred operating losses and used cash in its operating activities for the past several years. Cash was used to fund acquisitions to broaden our geographic footprint, develop new products, and build infrastructure. In fiscal 2015, the Company initiated a restructuring plan that included a reduction of workforce and office space, which significantly reduced operating expenses. In the first quarter of fiscal 2016, the Company recorded additional restructuring charges of $586 related to more office lease and workforce reductions. The Company’s management believes it will have an appropriate cost structure for its anticipated sales in the first half of fiscal 2016. Management believes that operating expenses will be reduced to the point where the Company can drive positive Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization, stock-based compensation charges and other onetime charges) . As such, management believes that the Company will provide sufficient cash flows to fund its operations in the ordinary course of business through at least the next twelve months. However, there can be no assurance that the anticipated sales level will be achieved. The Company maintains a bank financing agreement with BridgeBank, a division of Western Alliance Bank, which provides for up to $5 million of revolving credit advances. Borrowing is limited to the lesser of the $5 million or 80% of eligible receivables. Additionally, the Company can borrow up to $1 million in out of formula borrowings and a director/shareholder of the Company guarantees up to $2 million of the outstanding line of credit. As of December 31, 2015, the Company had an outstanding balance under the BridgeBank Loan Agreement of $2.5 million. During fiscal 2015, Bridgebank extended the term to a maturity date of September 30, 2016 and extended it again in December 2015 to a maturity date of December 31, 2016. Also, in December 2015, the four Term Notes from Shareholder in the amount of $2 million were amended to reflect a change in the maturity dates from September 30, 2016 and November 30, 2016 to March 1, 2017. In consideration for the extension in the maturity date, the Company increased the interest by 1.5% and included a prepayment penalty of 2%. The Term Notes of $500 issued in November 2015 were also amended with the same terms and conditions as the first four notes. In addition, the Company amended the maturity dates of its 10% Secured Convertible Notes in the amount of $3 million to March 1, 2017 in exchange for an increase in the interest to 11.5% as of January 1, 2016 and a prepayment penalty of 2%. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 3 Months Ended |
Dec. 31, 2015 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. Summary of Significant Accounting Policies Basis of Presentation and Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant inter-company accounts and transactions have been eliminated in consolidation. Unaudited Interim Financial Information The accompanying interim Condensed Consolidated Balance Sheets as of December 31, 2015 and September 30, 2015, and the interim Condensed Consolidated Statements of Operations, Comprehensive Loss, and Cash Flows for the three months ended December 31, 2015 and 2014 are unaudited. The unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”), and with the same instructions to Form 10-Q and Regulation S-X, and in the opinion of the Company’s management have been prepared on the same basis as the audited consolidated financial statements as of and for the year ended September 30, 2015. These interim condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments and accruals, necessary for the fair presentation of the Company’s financial position at December 31, 2015 and September 30, 2015 and its results of operations and cash flows for the three months ended December 31, 2015 and 2014. The results for the three months ended December 31, 2015 are not necessarily indicative of the results to be expected for the year ending September 30, 2016. The accompanying September 30, 2015 Condensed Consolidated Balance Sheet has been derived from the audited financial statements at that date, but does not include all of the information and footnotes required by US GAAP for complete financial statements. Subsequent Events The Company evaluated subsequent events through the date of this filing and concluded there were no material subsequent events requiring adjustment to or disclosure in these interim condensed consolidated financial statements, except as already disclosed in these financial statements. Recent Accounting Pronouncements In November 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2015-17, Balance Sheet Classification of Deferred Taxes, (the “Update”), which eliminates the current requirement to present deferred tax liabilities and assets as current and noncurrent in a classified balance sheet. Instead, entities will be required to classify all deferred tax assets and liabilities as noncurrent. The Update is effective for financial statements issued for annual periods beginning after December 15, 2016 and interim periods within those annual periods. Management does not expect the adoption of this Update to have a material impact on our consolidated financial position, results of operations or cash flows. All other Accounting Standards Updates issued but not yet effective are not expected to have a material effect on the Company’s future financial statements. |
Note 3 - Accounts Receivable an
Note 3 - Accounts Receivable and Unbilled Receivables | 3 Months Ended |
Dec. 31, 2015 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 3. Accounts Receivable and Unbilled Receivables Accounts receivable and unbilled receivables consists of the following: As of As of December 31, 2015 September 30, 2015 Accounts receivable $ 2,377 $ 2,228 Unbilled receivables 201 306 Subtotal 2,578 2,534 Allowance for doubtful accounts (71 ) (71 ) Accounts receivable and unbilled receivables, net $ 2,507 $ 2,463 |
Note 4 - Fair Value Measurement
Note 4 - Fair Value Measurement and Fair Value of Financial Instruments | 3 Months Ended |
Dec. 31, 2015 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 4 . Fair Value Measurement and Fair Value of Financial Instruments The Company’s other financial instruments consist principally of accounts receivable, accounts payable, and debt. The Company believes the recorded values for accounts receivable and accounts payable approximate current fair values as of December 31, 2015 and September 30, 2015 because of their nature and durations. The carrying value of debt instruments also approximates fair value as of December 31, 2015 and September 30, 2015 based on acceptable valuation methodologies which use market data of similar size and situated debt issues. Assets and liabilities of the Company measured at fair value on a recurring basis as of December 31, 2015 and September 30, 2015 are as follows: December 31, 2015 Level 1 Level 2 Level 3 Total Liabilities: Contingent acquisition consideration - - $ 301 $ 301 Total Liabilities $ - $ - $ 301 $ 301 September 30, 2015 Level 1 Level 2 Level 3 Total Liabilities: Contingent acquisition consideration - - $ 468 $ 468 Total Liabilities $ - $ - $ 468 $ 468 The Company determines the fair value of acquisition-related contingent consideration based on assessment of the probability that the Company would be required to make such future payments. Changes to the fair value of contingent consideration are recorded in general and administrative expenses. The following table provides a rollforward of the fair value, as determined by Level 3 inputs, of the contingent consideration. Changes in the fair value of the contingent consideration liability were as follows: Contingent Consideration Balance, October 1, 2015 $ 468 Payment of contingent consideration (167 ) Balance, December 31, 2015 $ 301 |
Note 5 - Intangible Assets
Note 5 - Intangible Assets | 3 Months Ended |
Dec. 31, 2015 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | 5 . Intangible Assets The components of intangible assets are as follows: As of As of December 31, 2015 September 30, 2015 Domain and trade names $ 10 $ 10 Customer related 712 802 Non-compete agreements 199 216 Balance at end of period $ 921 $ 1,028 Total amortization expense related to intangible assets for the three months ended December 31, 2015 and 2014 was $107 and $152, respectively, and is reflected in operating expenses on the Condensed Consolidated Statements of Operations. The estimated amortization expense for fiscal years 2016 (remaining), 2017, 2018, and 2019 is $323, $335, $242, and $22, respectively. |
Note 6 - Goodwill
Note 6 - Goodwill | 3 Months Ended |
Dec. 31, 2015 | |
Notes to Financial Statements | |
Goodwill Disclosure [Text Block] | 6 . Goodwill During fiscal 2015, the Company recorded a $10.5 million goodwill impairment charge. The Company determined that the most appropriate approach to use to determine the fair value of the reporting unit was the discounted cash flow method. The fair value of our reporting unit pursuant to the discounted cash flow approach was impacted by lower than forecasted revenues, volatility of the Company’s common stock, longer sales cycles, and higher operating losses. A comparison to the implied fair value of goodwill to its carrying value resulted in the impairment charge. The Company did not have an impairment charge in the three months ended December 31, 2015. |
Note 7 - Restructuring
Note 7 - Restructuring | 3 Months Ended |
Dec. 31, 2015 | |
Notes to Financial Statements | |
Restructuring and Related Activities Disclosure [Text Block] | 7 . Restructuring During the second half of fiscal 2015, the Company’s management approved, committed to and initiated plans to restructure and further improve efficiencies by implementing cost reductions in line with the decreases in revenue. The Company renegotiated three office leases and relocated to smaller space, while also negotiating sub-leases for the original space. In addition, the Company executed a general work-force reduction and recognized costs for severance and termination benefits. During the fourth quarter of fiscal 2015, the Company recorded a restructuring liability of $307 for the future contractual rental commitments for vacated office space and related costs, offset by estimated sub-lease income. In total, for the three months ended September 30, 2015, a charge of $496 was recorded to restructuring expenses in the consolidated statement of operations for the total lease expenses less sub-lease rental income, other miscellaneous lease termination costs, loss on disposal of fixed assets, and costs for severance and termination benefits. In the three months ended December 31, 2015, the Company recorded an additional liability of $506 related to severance and termination benefits, and a total of $586 was charged to restructuring expenses in the first quarter of fiscal 2016. These restructuring charges and accruals require estimates and assumptions, including contractual rental commitments or lease buy-outs for vacated office space and related costs, and estimated sub-lease income. The Company’s sub-lease assumptions include the rates to be charged to a sub-tenant and the timing of the sub-lease arrangement. All of the vacated lease space is currently contractually occupied by a new sub-tenant for the remaining life of the lease. These estimates and assumptions will be monitored on a quarterly basis for changes in circumstances with the corresponding adjustments reflected in the consolidated statement of operations. The following table summarizes the restructuring activity for the three months ended December 31, 2015: Employee Severence and Benefits Facility Closures and Other Costs Total Balance at beginning of period, September 30, 2015 $ - $ 307 $ 307 Charges to operations 586 - 586 Cash disbursements - (149 ) (149 ) Changes in estimates - - - Balance at end of period, December 31, 2015 $ 586 $ 158 $ 744 The components of the accrued restructuring liabilities is as follows: As of As of December 31, 2015 September 30, 2015 Facilities and related $ 194 $ 259 Employee related 506 - Other 44 48 Total $ 744 $ 307 As of December 31, 2015, $498 was reflected in Accrued Liabilities and $246 in Other Long Term Liabilities in the Condensed Consolidated Balance Sheet. |
Note 8 - Debt
Note 8 - Debt | 3 Months Ended |
Dec. 31, 2015 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 8 . Debt Debt consists of the following: As of As of December 31, 2015 September 30, 2015 Line of credit borrowings $ 2,467 $ 2,695 Bank term loan 500 250 Subordinated convertible debt 3,000 3,000 Term note from shareholder 2,500 2,000 Subtotal debt $ 8,467 $ 7,945 Other (debt warrants) $ (88 ) $ (158 ) Total debt $ 8,379 $ 7,787 Less current portion $ 500 $ 92 Long term debt, net of current portion $ 7,879 $ 7,695 Line of Credit and Bank Term Loan In December 2013, the Company entered into a Loan and Security Agreement with BridgeBank (the “Loan Agreement”). The Loan Agreement had an original term of 27 months set to expire on March 31, 2016. In December 2015, BridgeBank agreed to extend the term to a maturity date of December 31, 2016. The Loan Agreement provides for up to $5 million of revolving credit advances which may be used for acquisitions and working capital purposes. Borrowings are limited to the lesser of (i) $5 million and (ii) 80% of eligible receivables as defined. The Company can borrow up to $1.0 million in out of formula borrowings for specified periods of time. Borrowings accrued interest at BridgeBank’s prime plus 1.00% (4.25%) through June 1, 2015 and then increased to prime plus 5.00% (8.25%) in accordance with an amendment to the Loan and Security Agreement (see below). The prime rate adjusted to 3.5% on December 17, 2015. The Company pays an annual commitment fee of 0.25%. Borrowings are secured by all of the Company’s assets and all of the Company’s intellectual property. The Company is also required to comply with certain financial and reporting covenants including an Asset Coverage Ratio. As of December 31, 2015, the Company had an outstanding balance under the Loan Agreement of $2.5 million. The Company was in compliance with all financial reporting covenants for the period ended December 31, 2015. In December 2014, the Company signed an Amendment to its Loan and Security Agreement with BridgeBank (the “Amendment”). As part of the Amendment Mr. Michael Taglich, a member of the Board of Directors, signed an unconditional guaranty (the “Guaranty”) and promise to pay the Company’s lender, BridgeBank, N.A all indebtedness in an amount not to exceed $1 million in connection with the out of formula borrowings. The Amendment also modified certain monthly financial reporting requirements and financial covenants on a prospective basis commencing as of the effective date of the Amendment. In July 2015, the Company further amended its Loan and Security Agreement with BridgeBank which further extended the Guaranty from Mr. Taglich to an amount not to exceed $2 million in connection with the out of formula borrowings. Under the terms of the Guaranty, the Guarantor authorizes Lender, without notice or demand and without affecting its liability hereunder, from time to time to: (a) renew, compromise, extend, accelerate, or otherwise change the time for payment, or otherwise change the terms, of the Indebtedness or any part thereof, including increase or decrease of the rate of interest thereon, or otherwise change the terms of the Indebtedness; (b) receive and hold security for the payment of this Guaranty or any Indebtedness and exchange, enforce, waive, release, fail to perfect, sell, or otherwise dispose of any such security; (c) apply such security and direct the order or manner of sale thereof as Lender in its discretion may determine; and (d) release or substitute any Guarantor or any one or more of any endorsers or other guarantors of any of the Indebtedness. To secure all of Guarantor's obligations hereunder, Guarantor assigns and grants to Lender a security interest in all moneys, securities, and other property of Guarantor now or hereafter in the possession of Lender, all deposit accounts of Guarantor maintained with Lender, and all proceeds thereof. Upon default or breach of any of Guarantor's obligations to Lender, Lender may apply any deposit account to reduce the Indebtedness, and may foreclose any collateral as provided in the Uniform Commercial Code and in any security agreements between Lender and Guarantor. At December 31, 2015, the Company had an outstanding short term bank loan with BridgeBank of $500 which was repaid in January 2016. At September 30, 2015, the Company had an outstanding short term bank term loan with BridgeBank of $250 which was repaid in October 2015. Term Notes from Shareholder s The Company has issued term notes to Mr. Michael Taglich and Mr. Robert Taglich, both of whom are shareholders of the Company. Mr. Michael Taglich is also a Director of the Company. Five term notes totaling $2.25 million have been issued to Michael Taglich from the period of January 7, 2015 through December 3, 2015. Total interest due to Mr. Michael Taglich on his notes is $108 as of December 31, 2015. Term notes totaling $250 were issued to Robert Taglich on December 3, 2015. Total interest due to Mr. Robert Taglich on his note is $2 as of December 31, 2015. On December 23 2015, all of the Term Notes due to Mr. Michael and Mr. Robert Taglich were amended. The amendments consisted of an increase of 1.5% interest per annum effective January 1, 2016, an extension of the maturity date to March 1, 2017, and a prepayment penalty of 2%. Interest is due and payable for each of the above mentioned notes on the maturity date. In consideration of the loans by Michael Taglich and a personal guaranty delivered by Michael Taglich to BridgeBank, N.A. for the benefit of Bridgeline on December 19, 2014 (the “Guaranty”), on January 7, 2015 the Company issued Michael Taglich a warrant to purchase 60,000 shares of Common Stock of the Company at a price equal to $4.00 per share. On January 7, 2015, Bridgeline also entered into a side letter with Michael Taglich pursuant to which Bridgeline agreed in the event the Guaranty remains outstanding for a period of more than 12 months, on each anniversary of the date of issuance of the Guaranty while the Guaranty remains outstanding Bridgeline will issue Michael Taglich a warrant to purchase 30,000 shares of common stock, which warrant shall contain the same terms as the warrant issued to Michael Taglich on January 7, 2015. Mr. Taglich was also issued warrants in connection with the first four term notes. He was issued 120,000 at an exercise price of $4.00 in conjunction with the second and third Notes and 160,000 at an exercise price of $1.75 in connection with the fourth Note. The warrants have a term of five years and are exercisable six months after the date of issuance. Bridgeline agreed to provide piggyback registration rights with respect to the shares of common stock underlying the warrants. The fair value of the warrants issued to Mr. Taglich in connection with all of the Term Notes is $270 which was reflected as a debt discount in current liabilities with the offsetting amount recorded to additional paid in capital in the Consolidated Balance Sheet. The fair market value of the warrants is being amortized on a straight-line basis over their expected life, which was adjusted to coincide with the amendment to the maturity dates. Amortization of the debt discount is $100 through December 31, 2015. |
Note 9 - Other Long Term Liabil
Note 9 - Other Long Term Liabilities | 3 Months Ended |
Dec. 31, 2015 | |
Notes to Financial Statements | |
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Noncurrent [Text Block] | 9 . Other Long Term Liabilities Deferred Rent In connection with the leases in Massachusetts, New York, and in San Luis Obispo, the Company made investments in leasehold improvements at these locations of approximately $1.6 million, of which the respective landlords funded approximately $857. The capitalized leasehold improvements are being amortized over the initial lives of each lease. The improvements funded by the landlords are treated as lease incentives. Accordingly, the funding received from the landlords was recorded as fixed asset additions and a deferred rent liability on the Condensed Consolidated Balance Sheets. As of December 31, 2015, $398 was reflected in Accrued Liabilities and $164 is reflected in Other Long Term Liabilities. The deferred rent liability is being amortized as a reduction of rent expense over the lives of the leases. |
Note 10 - Shareholders' Equity
Note 10 - Shareholders' Equity | 3 Months Ended |
Dec. 31, 2015 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 10. Shareholder s ’ Equity Preferred Stock On October 27, 2014, the Company sold 200,000 shares of Series A convertible preferred stock (the “Preferred Stock”) at a purchase price of $10.00 per share for gross proceeds of $2.0 million in a private placement. Net proceeds to the Company after offering expenses were approximately $1.8 million. The shares of Preferred Stock may be converted, at the option of the holder at any time, into such number of shares of common stock (“Conversion Shares”) equal (i) to the number of shares of Preferred Stock to be converted, multiplies by the stated value of $10.00 (the “Stated Value”) and (ii) divided by the conversion price in effect at the time of conversion. The initial conversion price is $0.65, and is subject to adjustment in the event of stock splits or stock dividends. Any accrued but unpaid dividends on the shares of Preferred Stock to be converted shall also be converted in common stock at the conversion price. A mandatory provision also may provide that the Company will have the right to require the holders to convert shares of Preferred Stock into Conversion Shares if (i) the Company’s common stock has closed at or above $1.30 per share for ten consecutive trading days and (ii) the Conversion Shares are (A) registered for resale on an effective registration statement or (B) may be resold pursuant to Rule 144. In the event of any liquidation, dissolution, or winding up of the Company, the holders of shares of Preferred Stock will be entitled to receive in preference to the holders of common stock, the amount equal to the stated value per share of Series A Preferred Stock plus declared and unpaid dividends, if any. After such payment has been made, the remaining assets of the Company will be distributed ratably to the holders of common stock . Cumulative dividends are payable at a rate of 6% per year. If the Company does not pay the dividends in cash, then the Company may pay dividends in any quarter by delivery of additional shares of Preferred Stock (“PIK Election”). If the Company shall make the PIK Election with respect to the dividend payable, it shall deliver a number of shares of Preferred Stock equal to (A) the aggregate dividend payable to such holder as of the end of the quarter divided by As of December 2015, the Company has issued 11,393 preferred convertible shares (PIK shares) to the preferred shareholders of which 3,171 were issued in October 2015. The Company elected to declare a PIK dividend for the next quarterly payment due January 1, 2016. The total PIK dividend declared for January 1, 2016 is 3,221 preferred stock shares. Common Stock In October 2015, the Company sold 680,000 shares of common stock at $1 .00 per share for gross proceeds of $680 in a private placement. Net proceeds to the Company after offering expenses were approximately $669. There are no plans to register the common stock issued in this offering, however in the event the Company does register other common stock, the Company agreed to provide piggyback registration rights with respect to the shares of common stock sold in the offering and underlying the warrants. Contingent Consideration In connection with the acquisition of ElementsLocal on August 1, 2013, the Company issued 105,288 common shares to the sellers of ElementsLocal. In addition, contingent consideration not to exceed 67,693 shares of Bridgeline Digital common stock is contingently issuable to the sellers of ElementsLocal. The contingent consideration is payable quarterly over the 12 consecutive calendar quarters following the acquisition, contingent upon the acquired business achieving certain revenue targets. Through December 31, 2015, the stockholders of ElementsLocal earned 50,769 shares of common stock. Amended and Restated Stock Incentive Plan Effective August 2015, the Company’s Amended and Restated Stock Incentive Plan (the “Plan”) provides for the issuance of up 1,250,000 shares of common stock. The Plan authorizes the award of incentive stock options, non-statutory stock options, restricted stock, unrestricted stock, performance shares, stock appreciation rights and any combination thereof to employees, officers, directors, consultants, independent contractors and advisors of the Company. Options granted under the Plan may be granted with contractual lives of up to ten years. There were 831 ,197 options outstanding reserved under the Plan as of December 31, 2015 and 418 ,803 shares available for future issuance. Common Stock Warrants As of December 31, 2015: (i) placement agent warrants to purchase 43,479, 138,000, 46,155, 64,000, and 61,539 shares at an exercise price of $7.00, $6.25, $6.50, $5.25 and $3.25, respectively are outstanding; and (ii) investor shareholder warrants to purchase 180,000 and 160,000 shares at an exercise price of $4.00 and $1.75 are outstanding. Summary of Option and Warrant Activity and Outstanding Shares Stock Options Stock Warrants Weighted Weighted Average Average Exercise Exercise Options Price Warrants Price Outstanding, September 30, 2015 875,977 $ 0.98 703,281 $ 4.38 Granted 105,000 $ 1.19 - - Exercised - $ - - - Forfeited or expired (149,780 ) $ 3.91 (10,000 ) 7.50 Outstanding, December 31, 2015 831,197 $ 3.32 693,281 $ 4.33 |
Note 11 - Accumulated Other Com
Note 11 - Accumulated Other Comprehensive Loss | 3 Months Ended |
Dec. 31, 2015 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | 11 . Accumulated Other Comprehensive Loss Changes in accumulated other comprehensive loss were as follows: Accumulated Other Comprehensive Loss Balance, October 1, 2015 $ (356 ) Foreign currency translation adjustment 1 Balance, December 31, 2015 $ (355 ) |
Note 12 - Net Loss Per Share
Note 12 - Net Loss Per Share | 3 Months Ended |
Dec. 31, 2015 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 1 2 . Net Loss Per Share Basic and diluted net loss per share is computed as follows: Three Months Ended (in thousands, except per share data) December 31, 2015 2014 Net loss $ (1,348 ) $ (2,110 ) Accrued dividends on convertible preferred stock (32 ) (21 ) Net loss applicable to common shareholders $ (1,380 ) $ (2,131 ) Weighted average common shares outstanding - basic 5,165 4,343 Effect of dilutive securities - - Weighted average common shares outstanding - diluted 5,165 4,343 Net loss per share attributable to common shareholders: Basic and diluted $ (0.25 ) $ (0.49 ) Basic net loss per share is computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding. Diluted net income per share is computed using the weighted average number of common shares outstanding during the period plus the dilutive effect of outstanding stock options and warrants using the “treasury stock” method. The computation of diluted earnings per share does not include the effect of outstanding stock options and warrants that are anti-dilutive . For the three months ended December 31, 2015, there were no options to purchase shares of the Company’s common stock considered as dilutive, as the options were all valued at less than the current market price. Warrants to purchase 693,281 shares of common stock and contingent shares to be issued in connection with prior acquisitions of ElementsLocal have also been excluded as they are anti-dilutive to the Company’s net loss. Also, excluded in the computation of diluted loss per share are the Series A convertible preferred stock shares as they are anti-dilutive to the Company’s net loss. For the three months ended December 31, 2014, options to purchase shares of the Company’s common stock of 2,433 were excluded from the computation of diluted net loss per share as the effect was anti-dilutive to the Company’s net loss. Warrants to purchase 363,278 shares of common stock and contingent shares to be issued in connection with prior acquisitions of Marketnet, Magnetic and ElementsLocal have also been excluded as they are anti-dilutive to the Company’s net loss. Also, excluded in the computation of diluted loss per share are the Series A convertible preferred stock shares as they are anti-dilutive to the Company’s net loss. |
Note 13 - Income Taxes
Note 13 - Income Taxes | 3 Months Ended |
Dec. 31, 2015 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 1 3 . Income Taxes Income tax expense was $6 and $35 for the three months ended December 31, 2015 and 2014. Income tax expense consists of the estimated liability for federal and state income taxes owed by the Company, including the alternative minimum tax. Net operating loss carry forwards are estimated to be sufficient to offset additional taxable income for all periods presented. The Company does not provide for U.S. income taxes on the undistributed earnings of its Indian subsidiary, which the Company considers to be a permanent investment. |
Note 14 - Related Party Transac
Note 14 - Related Party Transactions | 3 Months Ended |
Dec. 31, 2015 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 1 4 . Related Party Transactions In October 2013, Mr. Michael Taglich joined the Board of Directors. Mr. Taglich is the Chairman and President of Taglich Brothers, Inc. a New York based securities firm. Mr. Taglich beneficially owns more than 10% of Bridgeline stock. Other employees, affiliates and clients of Taglich Brothers, Inc. own approximately 600,000 shares of Bridgeline common stock and 40,427 shares of convertible preferred stock. The Company has issued $2.25 million in interest bearing term notes to Mr. Taglich with a maturity date of March 1, 2017. Mr. Taglich has also guaranteed $2 million in connection with the Company’s out of formula borrowings on its credit facility with BridgeBank. In November 2015, the Company entered into a consulting agreement with Mr. Robert Taglich, also of Taglich Brothers, Inc. Mr. Taglich is a shareholder of the Company and beneficially owns approximately 9.5% of Bridgeline stock. The consulting services may include assistance with strategic planning and other matters as requested by management or the Board of Directors of the Company. The term of the Consulting Agreement is twelve months. As compensation for his services, Mr. Taglich was granted 15,000 options to purchase the Company’s common stock at a price of $1.21. The fair value of the options at the time of grant was $0.83 per share. The Company also has an annual service contract for $18 with Taglich Brothers, Inc to perform market research. |
Note 15 - Legal Proceedings
Note 15 - Legal Proceedings | 3 Months Ended |
Dec. 31, 2015 | |
Notes to Financial Statements | |
Legal Matters and Contingencies [Text Block] | 1 5 . Legal Proceedings The Company is subject to ordinary routine litigation and claims incidental to its business. As of December 31, 2015 the Company was not engaged with any material legal proceedings. |
Note 16 - Subsequent Event-Open
Note 16 - Subsequent Event-Open | 3 Months Ended |
Dec. 31, 2015 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 16. Subsequent Events Amendment to Bank Loan Agreement On February 11, 2016, the Company entered into an amendment to its Loan Agreement with Bridgebank, a division of Western Alliance Bank, to extend the term of the loan from an expiration date of December 31, 2016 to March 31, 2017. Term Notes On February 10, 2016, Bridgeline issued Term Notes to both Mr. Michael Taglich and Mr. Robert Taglich to document a loan from each of them for $250. Also, on February 10, 2016, Bridgeline issued a Term Note to Mr. Roger Kahn to document a loan for $100. The terms of the each of these three Notes provide that Bridgeline will pay interest at a rate of 8% per annum due and payable on the maturity date of March 1, 2017. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Basis of Presentation and Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant inter-company accounts and transactions have been eliminated in consolidation. |
Basis of Accounting, Policy [Policy Text Block] | Unaudited Interim Financial Information The accompanying interim Condensed Consolidated Balance Sheets as of December 31, 2015 and September 30, 2015, and the interim Condensed Consolidated Statements of Operations, Comprehensive Loss, and Cash Flows for the three months ended December 31, 2015 and 2014 are unaudited. The unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”), and with the same instructions to Form 10-Q and Regulation S-X, and in the opinion of the Company’s management have been prepared on the same basis as the audited consolidated financial statements as of and for the year ended September 30, 2015. These interim condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments and accruals, necessary for the fair presentation of the Company’s financial position at December 31, 2015 and September 30, 2015 and its results of operations and cash flows for the three months ended December 31, 2015 and 2014. The results for the three months ended December 31, 2015 are not necessarily indicative of the results to be expected for the year ending September 30, 2016. The accompanying September 30, 2015 Condensed Consolidated Balance Sheet has been derived from the audited financial statements at that date, but does not include all of the information and footnotes required by US GAAP for complete financial statements. |
Subsequent Events, Policy [Policy Text Block] | Subsequent Events The Company evaluated subsequent events through the date of this filing and concluded there were no material subsequent events requiring adjustment to or disclosure in these interim condensed consolidated financial statements, except as already disclosed in these financial statements. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements In November 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2015-17, Balance Sheet Classification of Deferred Taxes, (the “Update”), which eliminates the current requirement to present deferred tax liabilities and assets as current and noncurrent in a classified balance sheet. Instead, entities will be required to classify all deferred tax assets and liabilities as noncurrent. The Update is effective for financial statements issued for annual periods beginning after December 15, 2016 and interim periods within those annual periods. Management does not expect the adoption of this Update to have a material impact on our consolidated financial position, results of operations or cash flows. All other Accounting Standards Updates issued but not yet effective are not expected to have a material effect on the Company’s future financial statements. |
Note 3 - Accounts Receivable 25
Note 3 - Accounts Receivable and Unbilled Receivables (Tables) | 3 Months Ended |
Dec. 31, 2015 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | As of As of December 31, 2015 September 30, 2015 Accounts receivable $ 2,377 $ 2,228 Unbilled receivables 201 306 Subtotal 2,578 2,534 Allowance for doubtful accounts (71 ) (71 ) Accounts receivable and unbilled receivables, net $ 2,507 $ 2,463 |
Note 4 - Fair Value Measureme26
Note 4 - Fair Value Measurement and Fair Value of Financial Instruments (Tables) | 3 Months Ended |
Dec. 31, 2015 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | December 31, 2015 Level 1 Level 2 Level 3 Total Liabilities: Contingent acquisition consideration - - $ 301 $ 301 Total Liabilities $ - $ - $ 301 $ 301 September 30, 2015 Level 1 Level 2 Level 3 Total Liabilities: Contingent acquisition consideration - - $ 468 $ 468 Total Liabilities $ - $ - $ 468 $ 468 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Contingent Consideration Balance, October 1, 2015 $ 468 Payment of contingent consideration (167 ) Balance, December 31, 2015 $ 301 |
Note 5 - Intangible Assets (Tab
Note 5 - Intangible Assets (Tables) | 3 Months Ended |
Dec. 31, 2015 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | As of As of December 31, 2015 September 30, 2015 Domain and trade names $ 10 $ 10 Customer related 712 802 Non-compete agreements 199 216 Balance at end of period $ 921 $ 1,028 |
Note 7 - Restructuring (Tables)
Note 7 - Restructuring (Tables) | 3 Months Ended |
Dec. 31, 2015 | |
Notes Tables | |
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | Employee Severence and Benefits Facility Closures and Other Costs Total Balance at beginning of period, September 30, 2015 $ - $ 307 $ 307 Charges to operations 586 - 586 Cash disbursements - (149 ) (149 ) Changes in estimates - - - Balance at end of period, December 31, 2015 $ 586 $ 158 $ 744 |
Restructuring and Related Costs [Table Text Block] | As of As of December 31, 2015 September 30, 2015 Facilities and related $ 194 $ 259 Employee related 506 - Other 44 48 Total $ 744 $ 307 |
Note 8 - Debt (Tables)
Note 8 - Debt (Tables) | 3 Months Ended |
Dec. 31, 2015 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | As of As of December 31, 2015 September 30, 2015 Line of credit borrowings $ 2,467 $ 2,695 Bank term loan 500 250 Subordinated convertible debt 3,000 3,000 Term note from shareholder 2,500 2,000 Subtotal debt $ 8,467 $ 7,945 Other (debt warrants) $ (88 ) $ (158 ) Total debt $ 8,379 $ 7,787 Less current portion $ 500 $ 92 Long term debt, net of current portion $ 7,879 $ 7,695 |
Note 10 - Shareholders' Equity
Note 10 - Shareholders' Equity (Tables) | 3 Months Ended |
Dec. 31, 2015 | |
Notes Tables | |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Stock Options Stock Warrants Weighted Weighted Average Average Exercise Exercise Options Price Warrants Price Outstanding, September 30, 2015 875,977 $ 0.98 703,281 $ 4.38 Granted 105,000 $ 1.19 - - Exercised - $ - - - Forfeited or expired (149,780 ) $ 3.91 (10,000 ) 7.50 Outstanding, December 31, 2015 831,197 $ 3.32 693,281 $ 4.33 |
Note 11 - Accumulated Other C31
Note 11 - Accumulated Other Comprehensive Loss (Tables) | 3 Months Ended |
Dec. 31, 2015 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Accumulated Other Comprehensive Loss Balance, October 1, 2015 $ (356 ) Foreign currency translation adjustment 1 Balance, December 31, 2015 $ (355 ) |
Note 12 - Net Loss Per Share (T
Note 12 - Net Loss Per Share (Tables) | 3 Months Ended |
Dec. 31, 2015 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended (in thousands, except per share data) December 31, 2015 2014 Net loss $ (1,348 ) $ (2,110 ) Accrued dividends on convertible preferred stock (32 ) (21 ) Net loss applicable to common shareholders $ (1,380 ) $ (2,131 ) Weighted average common shares outstanding - basic 5,165 4,343 Effect of dilutive securities - - Weighted average common shares outstanding - diluted 5,165 4,343 Net loss per share attributable to common shareholders: Basic and diluted $ (0.25 ) $ (0.49 ) |
Note 1 - Description of Busin33
Note 1 - Description of Business (Details Textual) | Jan. 01, 2016 | May. 07, 2015shares | Dec. 31, 2015USD ($)$ / sharesshares | Nov. 30, 2015USD ($) | Dec. 31, 2015USD ($)$ / sharesshares | Sep. 30, 2015USD ($)$ / sharesshares | Dec. 31, 2014USD ($) | Jul. 31, 2015USD ($) | May. 08, 2015shares | May. 04, 2015shares | Dec. 31, 2013USD ($) |
Amendment [Member] | |||||||||||
Debt Instrument, Face Amount | $ 2,000,000 | $ 2,000,000 | |||||||||
Pre Reverse Stock Split [Member] | |||||||||||
Common Stock, Shares, Outstanding | shares | 22,000,000 | ||||||||||
Scenario, Forecast [Member] | The 10% Secured Convertible Notes [Member] | |||||||||||
Prepayment Penalty Interest Rate Increase Decrease | 2.00% | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 11.50% | ||||||||||
Minimum [Member] | |||||||||||
Number of Multi-unit Organization Targeted to Grow | 10 | ||||||||||
Maximum [Member] | |||||||||||
Number of Multi-unit Organization Targeted to Grow | 500 | ||||||||||
Reverse Stock Split [Member] | |||||||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 5 | ||||||||||
Revolving Credit Facility [Member] | Bridge Bank Loan Agreement [Member] | Michael Taglich [Member] | |||||||||||
Guaranty Agreement, Out of Formula Borrowings Available, Maximum | 2,000,000 | $ 2,000,000 | |||||||||
Revolving Credit Facility [Member] | Bridge Bank Loan Agreement [Member] | |||||||||||
Guaranty Agreement, Out of Formula Borrowings Available, Maximum | 1,000,000 | 1,000,000 | |||||||||
Revolving Credit Facility [Member] | |||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 5,000,000 | $ 5,000,000 | |||||||||
Line Of Credit Facility Maximum Borrowing Capacity Percentage | 80.00% | 80.00% | |||||||||
Bridge Bank Loan Agreement [Member] | Michael Taglich [Member] | |||||||||||
Guaranty Agreement, Out of Formula Borrowings Available, Maximum | $ 2,000,000 | $ 2,000,000 | $ 2,000,000 | ||||||||
Bridge Bank Loan Agreement [Member] | |||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 5,000,000 | ||||||||||
Long-term Line of Credit | $ 2,500,000 | $ 2,500,000 | |||||||||
Number of Term Notes | 4 | ||||||||||
Debt Instrument, Interest Rate, Increase (Decrease) | 1.50% | ||||||||||
Prepayment Penalty Interest Rate Increase Decrease | 2.00% | ||||||||||
The 10% Secured Convertible Notes [Member] | |||||||||||
Debt Instrument, Face Amount | $ 3 | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | ||||||||||
Number of Products and Platforms | 75 | ||||||||||
Common Stock, Shares, Outstanding | shares | 5,326,615 | 5,326,615 | 4,637,684 | 4,400,000 | |||||||
Common Stock, Par or Stated Value Per Share | $ / shares | $ 0.001 | $ 0.001 | $ 0.001 | ||||||||
Common Stock, Shares Authorized | shares | 50,000,000 | 50,000,000 | 50,000,000 | 50,000,000 | |||||||
Restructuring Charges | $ 586,000 | $ 496,000 | |||||||||
Long-term Line of Credit | $ 2,500,000 | $ 2,500,000 | |||||||||
Proceeds from Issuance of Long-term Debt | $ 500,000 |
Note 3 - Accounts Receivable 34
Note 3 - Accounts Receivable and Unbilled Receivables (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Sep. 30, 2015 |
Trade Accounts Receivable [Member] | ||
Accounts receivable | $ 2,377 | $ 2,228 |
Unbilled Receivables Member | ||
Accounts receivable | 201 | 306 |
Accounts receivable | 2,578 | 2,534 |
Allowance for doubtful accounts | (71) | (71) |
Accounts receivable and unbilled receivables, net | $ 2,507 | $ 2,463 |
Note 4 - Assets and Liabilities
Note 4 - Assets and Liabilities Measured at Fair Values on a Recurring Basis (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Sep. 30, 2015 |
Fair Value, Inputs, Level 3 [Member] | ||
Liabilities: | ||
Contingent acquisition consideration | $ 301 | $ 468 |
Total liabilities | 301 | $ 468 |
Fair Value, Inputs, Level 2 [Member] | ||
Liabilities: | ||
Total liabilities | ||
Contingent acquisition consideration | 301 | $ 468 |
Total liabilities | $ 301 | $ 468 |
Note 4 - Changes in Fair Value
Note 4 - Changes in Fair Value of Contingent Consideration (Details) $ in Thousands | 3 Months Ended |
Dec. 31, 2015USD ($) | |
Balance | $ 468 |
Payment of contingent consideration | (167) |
Balance | $ 301 |
Note 5 - Intangible Assets (Det
Note 5 - Intangible Assets (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Amortization of Intangible Assets | $ 107 | $ 152 |
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year | 323 | |
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 335 | |
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 242 | |
Finite-Lived Intangible Assets, Amortization Expense, Year Four | $ 22 |
Note 5 - Changes in the Carryin
Note 5 - Changes in the Carrying Amount of Intangible Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Sep. 30, 2015 |
Domain And Trade Names [Member] | ||
Finite Lived Intangible Assets, Net | $ 10 | $ 10 |
Customer-Related Intangible Assets [Member] | ||
Finite Lived Intangible Assets, Net | 712 | 802 |
Noncompete Agreements [Member] | ||
Finite Lived Intangible Assets, Net | 199 | 216 |
Finite Lived Intangible Assets, Net | $ 921 | $ 1,028 |
Note 6 - Goodwill (Details Text
Note 6 - Goodwill (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended |
Dec. 31, 2015 | Sep. 30, 2015 | |
Goodwill, Impairment Loss | $ 0 | $ 10,500,000 |
Note 7 - Restructuring (Details
Note 7 - Restructuring (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2015 | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2015 | |
Facility Closing [Member] | ||||
Restructuring Charges | $ 307,000 | |||
Employee Severance [Member] | ||||
Restructuring Charges | $ 506,000 | |||
Accrued Liabilities, Current [Member] | ||||
Restructuring Charges | 498,000 | $ 114,000 | ||
Other Noncurrent Liabilities [Member] | ||||
Restructuring Charges | 246,000 | $ 193,000 | ||
Restructuring Charges | $ 586,000 | $ 496,000 |
Note 7 - Restructuring Charges
Note 7 - Restructuring Charges Reserve Activity (Details) - USD ($) | 3 Months Ended | |
Dec. 31, 2015 | Sep. 30, 2015 | |
Facility Closing [Member] | ||
Balance | $ 307,000 | |
Restructuring Charges | $ 307,000 | |
Cash disbursements | (149,000) | |
Balance | 158,000 | 307,000 |
Employee Severance [Member] | ||
Restructuring Charges | 506,000 | |
Balance | 586,000 | |
Balance | 307,000 | |
Restructuring Charges | 586,000 | 496,000 |
Cash disbursements | (149,000) | |
Balance | $ 744,000 | $ 307,000 |
Note 7 - Accrued Restructuring
Note 7 - Accrued Restructuring Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Sep. 30, 2015 |
Facilities and Related [Member] | ||
Accrued restructuring liabilities | $ 194 | $ 259 |
Employee Severance [Member] | ||
Accrued restructuring liabilities | 506 | |
Other Restructuring Costs [Member] | ||
Accrued restructuring liabilities | 44 | $ 48 |
Accrued restructuring liabilities | $ 744 | $ 307 |
Note 8 - Debt (Details Textual)
Note 8 - Debt (Details Textual) - USD ($) | Jan. 01, 2016 | Dec. 03, 2015 | Jan. 07, 2015 | Dec. 31, 2015 | Nov. 30, 2015 | Dec. 31, 2013 | Dec. 31, 2015 | Dec. 31, 2015 | Jun. 30, 2015 | Dec. 03, 2015 | Dec. 17, 2015 | Sep. 30, 2015 | Jul. 31, 2015 | Nov. 06, 2013 |
Bridge Bank Loan Agreement [Member] | Prime Rate [Member] | ||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 5.00% | 1.00% | ||||||||||||
Bridge Bank Loan Agreement [Member] | Michael Taglich [Member] | ||||||||||||||
Guaranty Agreement, Out of Formula Borrowings Available, Maximum | $ 2,000,000 | $ 2,000,000 | $ 2,000,000 | $ 2,000,000 | ||||||||||
Bridge Bank Loan Agreement [Member] | ||||||||||||||
Debt Instrument, Term | 2 years 90 days | |||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 5,000,000 | |||||||||||||
Line of Credit Facility, Percent of Eligible Receivables | 80.00% | |||||||||||||
Maximum Out of Formula Borrowings if Available Borrowing Is Less Than 5 Million | $ 1,000,000 | |||||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 8.25% | 8.25% | 8.25% | 4.25% | ||||||||||
Line of Credit Facility, Commitment Fee Percentage | 0.25% | |||||||||||||
Long-term Line of Credit | $ 2,500,000 | $ 2,500,000 | $ 2,500,000 | |||||||||||
Debt Instrument, Interest Rate, Increase (Decrease) | 1.50% | |||||||||||||
Prepayment Penalty Interest Rate Increase Decrease | 2.00% | |||||||||||||
SVB [Member] | Bank Term Loan [Member] | ||||||||||||||
Long-term Line of Credit | $ 500,000 | 500,000 | 500,000 | $ 250,000 | ||||||||||
Term Note [Member] | Michael Taglich [Member] | ||||||||||||||
Proceeds from Issuance of Long-term Debt | $ 2,250,000 | |||||||||||||
Interest Payable | 108,000 | 108,000 | 108,000 | |||||||||||
Term Note [Member] | Robert Taglich [Member] | ||||||||||||||
Proceeds from Issuance of Long-term Debt | $ 250,000 | |||||||||||||
Interest Payable | 2,000 | 2,000 | 2,000 | |||||||||||
The 10% Secured Convertible Notes [Member] | Subsequent Event [Member] | ||||||||||||||
Debt Instrument, Interest Rate, Increase (Decrease) | 1.50% | |||||||||||||
Prepayment Penalty Interest Rate Increase Decrease | 2.00% | |||||||||||||
Term Note 2 and 3 [Member] | Michael Taglich [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 120,000 | |||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 4 | |||||||||||||
Term Note 4 [Member] | Michael Taglich [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 160,000 | |||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.75 | |||||||||||||
Michael Taglich [Member] | To be Issued in the Event the Guaranty Remains Outstanding [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 30,000 | |||||||||||||
Michael Taglich [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 60,000 | |||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 4 | |||||||||||||
Warrants Term | 5 years | |||||||||||||
Warrants Exercisable Term | 180 days | |||||||||||||
Warrant Liability, Fair Value Disclosure | 270,000 | 270,000 | 270,000 | |||||||||||
Warrant Liability, Amortization | 100,000 | |||||||||||||
Convertible Subordinated Debt [Member] | ||||||||||||||
Convertible Notes Payable | $ 2,015,000,000 | |||||||||||||
Prime Rate | 3.50% | |||||||||||||
Long-term Line of Credit | $ 2,500,000 | $ 2,500,000 | $ 2,500,000 | |||||||||||
Proceeds from Issuance of Long-term Debt | $ 500,000 |
Note 8 - Summary of Debt (Detai
Note 8 - Summary of Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Sep. 30, 2015 |
Line Of Credit Borrowings [Member] | ||
Debt Instrument Carrying Amount | $ 2,467 | $ 2,695 |
Bank Term Loan [Member] | ||
Debt Instrument Carrying Amount | 500 | 250 |
Subordinated Convertible Debt [Member] | ||
Debt Instrument Carrying Amount | 3,000 | 3,000 |
Term Note [Member] | ||
Debt Instrument Carrying Amount | 2,500 | 2,000 |
Subtotal of All Debt Excluding Debt Warrants [Member] | ||
Debt Instrument Carrying Amount | 8,467 | 7,945 |
Debt Warrants [Member] | ||
Debt Instrument Carrying Amount | (88) | (158) |
Debt Instrument Carrying Amount | 8,379 | 7,787 |
Debt, current | 500 | 92 |
Long term debt, net of current portion | $ 7,879 | $ 7,695 |
Note 9 - Other Long Term Liab45
Note 9 - Other Long Term Liabilities (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2015 | Sep. 30, 2015 |
Paid By Landlord Member | ||
Leasehold Improvements, Gross | $ 857 | |
Leasehold Improvements [Member] | ||
Accrued Liabilities | 398 | |
Other Liabilities, Noncurrent | 164 | |
Leasehold Improvements, Gross | 1,600 | |
Other Liabilities, Noncurrent | $ 784 | $ 726 |
Note 10 - Shareholders' Equit46
Note 10 - Shareholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Jan. 01, 2016 | Oct. 27, 2014 | Aug. 01, 2013 | Oct. 31, 2015 | Aug. 31, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2015 | Sep. 30, 2015 | Dec. 31, 2012 | Oct. 21, 2010 |
Series A Convertible Preferred Stock [Member] | Increased Divided Percentage After Two Years [Member] | |||||||||||
Preferred Stock, Dividend Rate, Percentage | 12.00% | ||||||||||
Series A Convertible Preferred Stock [Member] | |||||||||||
Debt Instrument, Convertible, Threshold Consecutive Trading Days | 10 days | ||||||||||
Stock Issued During Period, Shares, New Issues | 200,000 | ||||||||||
Share Price | $ 10 | ||||||||||
Gross Proceeds From Sale of Stock | $ 2,000 | ||||||||||
Proceeds from Issuance of Private Placement | $ 1,800 | ||||||||||
Preferred Stock Conversion Price | $ 0.65 | ||||||||||
Minimum Common Stock Price Allowing Company to Force Convert Preferred Stock | $ 1.30 | ||||||||||
Preferred Stock, Dividend Rate, Percentage | 6.00% | ||||||||||
Convertible Preferred Stock [Member] | Subsequent Event [Member] | |||||||||||
Preferred Stock Dividends, Shares | 3,221 | ||||||||||
Convertible Preferred Stock [Member] | |||||||||||
Preferred Stock Dividends, Shares | 3,171 | 11,393 | |||||||||
Common Stock [Member] | |||||||||||
Stock Issued During Period, Shares, New Issues | 680,000 | 680,000 | |||||||||
Share Price | $ 1 | ||||||||||
Gross Proceeds From Sale of Stock | $ 680 | ||||||||||
Proceeds from Issuance of Common Stock | $ 669 | ||||||||||
Elements Local [Member] | |||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 105,288 | ||||||||||
Business Acquisition Contingent Consideration Maximum Shares Issuable | 67,693 | ||||||||||
Common Stock, Shares Earned for Achievement of Revenue Targets | 50,769 | ||||||||||
Amended and Restated Stock Incentive Plan [Member] | Employee Stock Option [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||||||||
Amended and Restated Stock Incentive Plan [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,250,000 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 831,197 | 831,197 | |||||||||
Common Stock, Capital Shares Reserved for Future Issuance | 418,803 | 418,803 | |||||||||
Employee Stock Option [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 831,197 | 831,197 | 875,977 | ||||||||
Exercisable at $7.50 Per Share [Member] | Placement Agent Warrants [Member] | |||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 43,479 | 43,479 | |||||||||
Exercisable at $6.25 per Share [Member] | Placement Agent Warrants [Member] | |||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 138,000 | 138,000 | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 6.25 | $ 6.25 | |||||||||
Exercisable at $6.50 per Share [Member] | Placement Agent Warrants [Member] | |||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 46,155 | 46,155 | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 6.50 | $ 6.50 | |||||||||
Exercisable at $5.25 [Member] | Placement Agent Warrants [Member] | |||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 64,000 | 64,000 | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 5.25 | $ 5.25 | |||||||||
Exercisable at $3.25 [Member] | Placement Agent Warrants [Member] | |||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 61,539 | 61,539 | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 3.25 | $ 3.25 | |||||||||
Exercisable at $7.00 per Share [Member] | Placement Agent Warrants [Member] | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 7 | $ 7 | |||||||||
Exercisable at $4.00 [Member] | Investors [Member] | |||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 180,000 | 180,000 | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 4 | $ 4 | |||||||||
Exercisable at $1.75 [Member] | Investors [Member] | |||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 160,000 | 160,000 | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.75 | $ 1.75 | |||||||||
Issued to Non-Employee Consultant [Member] | |||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 16 | ||||||||||
Proceeds from Issuance of Common Stock | $ 669 |
Note 10 - Summary of Option and
Note 10 - Summary of Option and Warrant Activity and Outstanding Shares (Details) | 3 Months Ended |
Dec. 31, 2015$ / sharesshares | |
Employee Stock Option [Member] | |
Outstanding, Stock Options (in shares) | shares | 875,977 |
Outstanding, Stock Options, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 0.98 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares | 105,000 |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares | $ 1.19 |
Forfeited or expired, Stock Options (in shares) | shares | (149,780) |
Forfeited or expired, Stock Options, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 3.91 |
Outstanding, Stock Options (in shares) | shares | 831,197 |
Outstanding, Stock Options, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 3.32 |
Stock Warrants [Member] | |
Outstanding, Stock Warrants (in shares) | shares | 703,281 |
Outstanding, Stock Warrants, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 4.38 |
Forfeited or expired, Stock Warrants (in shares) | shares | (10,000) |
Forfeited or expired, Stock Warrants, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 7.50 |
Outstanding, Stock Warrants (in shares) | shares | 693,281 |
Outstanding, Stock Warrants, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 4.33 |
Note 11 - Accumulated Other C48
Note 11 - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Balance at, | $ (356) | |
Foreign currency translation adjustment | 1 | $ (5) |
Balance at, | $ (355) |
Note 12 - Net Loss Per Share (D
Note 12 - Net Loss Per Share (Details Textual) - shares | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Employee Stock Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 2,433 |
Warrant [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 693,281 | 363,278 |
Note 12 - Basic and Diluted Net
Note 12 - Basic and Diluted Net Loss Per Share (Details) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Net Loss | $ (1,348) | $ (2,110) |
Dividends on convertible preferred stock | (32) | (21) |
Net loss applicable to common shareholders | $ (1,380) | $ (2,131) |
Weighted average common shares outstanding - basic (in shares) | 5,165 | 4,343 |
Weighted average common shares outstanding - diluted (in shares) | 5,165 | 4,343 |
Basic and diluted (in dollars per share) | $ (0.25) | $ (0.49) |
Note 13 - Income Taxes (Details
Note 13 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Expense (Benefit) | $ 6 | $ 35 |
Note 14 - Related Party Trans52
Note 14 - Related Party Transactions (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 3 Months Ended | |||
Nov. 30, 2015 | Dec. 31, 2015 | Sep. 30, 2015 | Jul. 31, 2015 | May. 08, 2015 | |
Michael Taglich [Member] | Minimum [Member] | |||||
Related Party, Ownership Percentage Of Stock | 10.00% | ||||
Michael Taglich [Member] | Bridge Bank Loan Agreement [Member] | |||||
Guaranty Agreement, Out of Formula Borrowings Available, Maximum | $ 2,000 | $ 2,000 | |||
Michael Taglich [Member] | |||||
Due to Related Parties | $ 2,250 | ||||
Employee Affiliates and Clients of Taglich Brother [Member] | Series A Convertible Preferred Stock [Member] | |||||
Preferred Stock, Shares Outstanding | 40,427 | ||||
Employee Affiliates and Clients of Taglich Brother [Member] | |||||
Common Stock, Shares, Outstanding | 600,000 | ||||
Taglich Brothers [Member] | Consulting Agreement[Member] | |||||
Related Party, Ownership Percentage Of Stock | 9.50% | ||||
Term of Consulting Agreement | 1 year | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 15,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 1.21 | ||||
Taglich Brothers [Member] | Annual Service Contract [Member] | |||||
Related Party Transaction, Amounts of Transaction | $ 18 | ||||
Common Stock, Shares, Outstanding | 5,326,615 | 4,637,684 | 4,400,000 | ||
Preferred Stock, Shares Outstanding | 211,393 | 208,222 | |||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 0.83 |
Note 16 - Subsequent Event-Op53
Note 16 - Subsequent Event-Open (Details Textual) - Subsequent Event [Member] $ in Thousands | Feb. 10, 2016USD ($) |
Michael Taglich [Member] | Term Note 5 [Member] | |
Debt Instrument, Face Amount | $ 250 |
Robert Taglich [Member] | Term Note 5 [Member] | |
Debt Instrument, Face Amount | 250 |
Mr. Roger Kahn [Member] | |
Debt Instrument, Face Amount | $ 100 |
Taglich Brothers [Member] | |
Debt Instrument, Interest Rate, Stated Percentage | 8.00% |