Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Dec. 31, 2017 | Feb. 10, 2018 | |
Document Information [Line Items] | ||
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) | 4,200,219 | |
Document Type | 10-Q | |
Document Period End Date | Dec. 31, 2017 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Dec. 31, 2017 | Sep. 30, 2017 |
Current assets: | ||
Cash and cash equivalents | $ 1,117 | $ 748 |
Accounts receivable and unbilled receivables, net | 3,208 | 3,026 |
Prepaid expenses and other current assets | 464 | 352 |
Total current assets | 4,789 | 4,126 |
Property and equipment, net | 181 | 209 |
Intangible assets, net | 191 | 263 |
Goodwill | 12,641 | 12,641 |
Other assets | 303 | 334 |
Total assets | 18,105 | 17,573 |
Current liabilities: | ||
Accounts payable | 1,175 | 1,241 |
Accrued liabilities | 980 | 920 |
Debt, current | 42 | |
Deferred revenue | 1,380 | 1,466 |
Total current liabilities | 3,577 | 3,627 |
Debt, net of current portion | 3,142 | 2,500 |
Other long term liabilities | 444 | 172 |
Total liabilities | 7,163 | 6,299 |
Commitments and contingencies | ||
Stockholders’ equity: | ||
Preferred stock - $0.001 par value; 1,000,000 shares authorized; 250,927 at December 31, 2017 and 243,536 at September 30, 2017, issued and outstanding (liquidation preference $2,585) | ||
Common stock - $0.001 par value; 50,000,000 shares authorized; 4,200,219 at December 31, 2017 and at September 30, 2017, issued and outstanding | 4 | 4 |
Additional paid-in capital | 66,043 | 65,869 |
Accumulated deficit | (54,754) | (54,249) |
Accumulated other comprehensive loss | (351) | (350) |
Total stockholders’ equity | 10,942 | 11,274 |
Total liabilities and stockholders’ equity | $ 18,105 | $ 17,573 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2017 | Sep. 30, 2017 |
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) | 250,927 | 243,536 |
Preferred stock, shares outstanding (in shares) | 250,927 | 243,536 |
Preferred stock, liquidation preference | $ 2,585 | $ 2,585 |
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) | 4,200,219 | 4,200,219 |
Common stock, shares outstanding (in shares) | 4,200,219 | 4,200,219 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Net revenue: | ||
Digital engagement services | $ 2,060 | $ 2,026 |
Subscription and perpetual licenses | 1,606 | 1,725 |
Managed service hosting | 303 | 240 |
Total net revenue | 3,969 | 3,991 |
Cost of revenue: | ||
Digital engagement services | 1,397 | 1,128 |
Subscription and perpetual licenses | 480 | 496 |
Managed service hosting | 80 | 71 |
Total cost of revenue | 1,957 | 1,695 |
Gross profit | 2,012 | 2,296 |
Operating expenses: | ||
Sales and marketing | 1,104 | 1,294 |
General and administrative | 736 | 791 |
Research and development | 407 | 360 |
Depreciation and amortization | 108 | 185 |
Restructuring charges | 31 | |
Total operating expenses | 2,355 | 2,661 |
Loss from operations | (343) | (365) |
Interest and other expense, net | (86) | (31) |
Loss before income taxes | (429) | (396) |
Provision for income taxes | 1 | 12 |
Net loss | (430) | (408) |
Dividends on convertible preferred stock | (75) | (68) |
Net loss applicable to common shareholders | $ (505) | $ (476) |
Net loss per share attributable to common shareholders: | ||
Basic and diluted (in dollars per share) | $ (0.12) | $ (0.12) |
Number of weighted average shares outstanding: | ||
Basic and diluted (in shares) | 4,200,219 | 4,011,724 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Net Loss | $ (430) | $ (408) |
Other Comprehensive income: Net change in foreign currency translation adjustment | 1 | 2 |
Comprehensive loss | $ (429) | $ (406) |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Cash flows from operating activities: | ||
Net loss | $ (430) | $ (408) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Amortization of Intangible Assets | 72 | 71 |
Depreciation | 36 | 89 |
Other amortization | 16 | 39 |
Debt discount amortization | 25 | |
Stock-based compensation | 125 | 122 |
Changes in operating assets and liabilities | ||
Accounts receivable and unbilled receivables | (182) | (81) |
Prepaid expenses and other assets | (50) | 39 |
Accounts payable and accrued liabilities | (37) | (390) |
Deferred revenue | (86) | 187 |
Other liabilities | (61) | 39 |
Total adjustments | (145) | 115 |
Net cash used in operating activities | (575) | (293) |
Cash flows used in investing activities: | ||
Software development capitalization costs | (21) | |
Purchase of property and equipment | (8) | |
Net cash used in investing activities | (8) | (21) |
Cash flows provided by financing activities: | ||
Proceeds from issuance of common stock, net of issuance costs | 891 | |
Proceeds from term notes | 953 | |
Borrowing on bank line of credit | 300 | 355 |
Payments on bank line of credit | (300) | (80) |
Contingent acquisition payments | (75) | |
Principal payments on capital leases | (12) | |
Net cash provided by financing activities | 953 | 1,079 |
Effect of exchange rate changes on cash and cash equivalents | (1) | 2 |
Net increase in cash and cash equivalents | 369 | 767 |
Cash and cash equivalents at beginning of period | 748 | 661 |
Cash and cash equivalents at end of period | 1,117 | 1,428 |
Supplemental disclosures of cash flow information: | ||
Interest | 64 | 33 |
Income taxes | 9 | 17 |
Non cash investing and financing activities: | ||
Accrued dividends on convertible preferred stock | $ 76 | $ 68 |
Note 1 - Description of Busines
Note 1 - Description of Business | 3 Months Ended |
Dec. 31, 2017 | |
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 with their digital experience from websites and intranets to online stores. Bridgeline ’s iAPPS® platform integrates Web Content Management, eCommerce, eMarketing, Social Media management, and Web Analytics to deliver digital experiences to its customers. iAPPSds is a platform for large franchise and multi-unit organizations and also integrates Web Content Management, eCommerce, eMarketing, Social Media management, and Web Analytics. The iAPPS platform is delivered through a cloud-based SaaS (“Software as a Service”) multi-tenant business model, 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 hosted by Bridgeline via a cloud-based hosted services model. Bridgeline Digital was incorporated under the laws of the State of Delaware on August 28, 2000. Locations T he Company’s corporate office is located in Burlington, Massachusetts. The Company has one Reverse Stock Split On June 29, 2017, ’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 5 “1 5 1 5 July 24, 2017 July 25, 2017. The reverse stock split reduced the number of shares of the Company ’s common stock currently outstanding from approximately 21 4.2 Upon the effectiveness of the 1 5 five one $.001. not not 50 $0.001. The accompanying condensed consolidated financial statements and footnotes have been retroactively adjusted to reflect the effects of the 1 5 Liquidity and Management’s Plans The Company has a Loan and Security Agreement (“Heritage Agreement”) with Heritage Bank of Commerce (“Heritage Bank”) which has a maturity date of June 15, 2019. $2.5 may may not may December 31, 2017, $2.5 On October 10, 2017, Montage Loan” or “Loan Agreement”) with Montage Capital II, L.P. (“Montage”). The Montage Loan has a thirty-six 36 October 10, 2020. $1.5 may $1 $500 On May 19, 2017, 3 $10 The determinate number of shares of common stock, preferred stock, warrants, and units of any combination thereof (collectively, the “Securities”) may not $10 no December 31, 2017. Historically, the Company has had operating losses and working capital deficiencies, but has undertaken a long term cost reduction plan that includes staff reductions and office lease consolidations to compensate for the shortfalls. The Company will continu e to follow through with its plan and closely monitor and adjust such expenditures throughout the next twelve no twelve December 31, 2017 $ 1.1 twelve not may second may not |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 3 Months Ended |
Dec. 31, 2017 | |
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 balances and transactions have been eliminated in consolidation. Unaudited Interim Financial Information The unaudited 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 instructions to Form 10 X, three December 31, 2017 not September 30, 2018. September 30, 2017 not 10 September 30, 2017. Subsequent Events The Company evaluated subsequent events through the date of this filing and concluded there were no Recent Accounting Pronouncements Revenue Recognition In May 2014, ASU”) No. 2014 09, 606 2014 09 2014 09 December 15, 2017, 2014 09 2014 09 five may 2014 09 first 2019. Companies may 2014 09 2014 09, 2014 09 no 2014 09 The Company plans to adopt the standard using the full retrospective method to restate each prior reporting period presented. Additionally, as the Company continues to assess the new standard along with industry trends and additional interpretive guidance, the Company may As the Company is continuing to assess all potential impacts of the new standard, it currently believes that the impact will not not not first 1 2 Another significant provision under ASU 2014 09 the Company expenses sales commissions in the period incurred. Under ASU 2014 09, 2014 09, may may Leases In February 2 016, No. 2016 02, No, 2016 02 December 15, 2018. Income Taxes On December 22, 2017, Tax Act”). The Tax Act makes broad and complex changes to the U.S. tax code that will affect the Company’s fiscal year ending September 30, 2018, not 21 September 30, 2018. not no December 31, 2017. The changes included in the Tax Act are broad and complex. The final transition impacts of the Tax Act may any legislative action to address questions that arise because of the Tax Act, any changes in accounting standards for income taxes or related interpretations in response to the Tax Act, or any updates or changes to estimates the company has utilized to calculate the transition impact. The Securities Exchange Commission has issued rules that would allow for a measurement period of up to one September 30, 2018 . Cash Flows In August 2016, 2016 15, actice in how certain transactions are classified in the statement of cash flows, specifically certain cash receipts and cash payments. The standard is effective for public business entities financial statements issued for fiscal years beginning after December 15, 2017, Management does not In November 2016, No. 2016 18 requires entities to include in their cash and cash-equivalent balances in the statement of cash flows those amounts that are deemed to be restricted cash and restricted cash equivalents. As a result, companies will no December 15, 2017. 2016 18 2016 18 Goodwill In January 2017, No. 2017 04 2 not December 31, 2020 Business Combinations In January 2017, No. 2017 01, 805 2017 01 December 15, 2017, All other Accounting Standards Updates issued but not not ’s future financial statements. |
Note 3 - Accounts Receivable an
Note 3 - Accounts Receivable and Unbilled Receivables | 3 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 3. Accounts receivable and unbilled receivables consists of the following: As of As of December 31, 2017 September 30, 2017 Accounts receivable $ 3,090 $ 3,174 Unbilled receivables 204 41 Subtotal 3,294 3,215 Allowance for doubtful accounts (86 ) (189 ) Accounts receivable and unbilled receivables, net $ 3,208 $ 3,026 For the three December 31, 2017 December 31, 2016, one 10% three December 31, 2017, two 11% 12% of the Company’s total revenue. For the three December 31, 2016, one 12% . BRIDGELINE DIGITAL, INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (in thousands, except share and per share data) |
Note 4 - Fair Value Measurement
Note 4 - Fair Value Measurement and Fair Value of Financial Instruments | 3 Months Ended |
Dec. 31, 2017 | |
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 measures its financial assets and liabilities at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., exit price) in an orderly transaction between market participants at the measurement date. Additionally, companies are required to provide disclosure and categorize assets and liabilities measured at fair value into one three 1 3 Level 1—Valuations Level 2—Valuations not Level 3—Valuations The Company believes the recorded values for accounts receivable and accounts payable and short term debt approximate current fair values as of December 31, 2017 September 30, 2017 December 31, 2017 September 30, 2017 based upon the Company's ability to acquire similar debt at similar maturities. three December 31, 2017, 3 eight 8 80%, 2.24%. The fair value of t he warrant liability was valued at the loan execution date in the amount of $341 December 31, 2017 $338 Assets and liabilities of the Company measured at fair value on a recurring basis as of December 31, 2017 As of December 31, 2017 Level 1 Level 2 Level 3 Total Liabilities: Warrant liability $ - $ - $ 338 $ 338 Total Liabilities $ - $ - $ 338 $ 338 The following table provides a rollforward of the fair value, as determined by Level 3 warrant liability. Three Months Ended December 31, 2017 Balance at beginning of period, October 1, 2017 $ - Additions 341 Adjustment to fair value (3 ) Balance at end of period, December 31, 2017 $ 338 |
Note 5 - Intangible Assets
Note 5 - Intangible Assets | 3 Months Ended |
Dec. 31, 2017 | |
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, 2017 September 30, 2017 Domain and trade names $ 10 $ 10 Customer related 125 179 Non-compete agreements 56 74 Balance at end of period $ 191 $ 263 Total amortization expense related to intangible assets for the three December 31, 2017 2016 $72 $71, 2018 2019 $175 $16, |
Note 6 - Restructuring
Note 6 - Restructuring | 3 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Restructuring and Related Activities Disclosure [Text Block] | 6 . Restructuring Commencing in fiscal 2015 2017, ’s management approved, committed to and initiated plans to restructure and further improve efficiencies by implementing cost reductions in line with expected decreases in revenue. The Company renegotiated several 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. 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. In the second 2017, The following table summarizes the restructuring activity for the three December 31, 201 7: Facility Closures and Other Costs Balance at beginning of period, October 1, 2017 $ 176 Charges to operations - Cash disbursements (67 ) Changes in estimates - Balance at end of period, December 31, 2017 $ 109 The components of the accrued restructuring liabilities is as follows: As of As of December 31, 2017 September 30, 2017 Facilities and related $ 103 $ 133 Other 6 43 Total $ 109 $ 176 As of December 31, 201 7, $57 $52 As of September 30, 2017, $119 $57 |
Note 7 - Debt
Note 7 - Debt | 3 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 7 . Debt Debt at December 31, 2017 September 30, 2017 As of As of December 31, 2017 September 30, 2017 Line of credit borrowings $ 2,500 $ 2,500 Term loan - Montage Capital 1,000 - Subtotal debt $ 3,500 $ 2,500 Other (debt discount) $ (316 ) - Total debt $ 3,184 $ 2,500 Less current portion $ 42 $ - Long term debt, net of current portion $ 3,142 $ 2,500 Heritage Line of Credit In June 2016, entered into a new Loan and Security Agreement with Heritage Bank of Commerce (“Heritage Agreement” or “Loan Agreement”). The Heritage Agreement had and original a term of 24 2017 June 9, 2019. 0.4% first 0.2% second $6 December 31, 2017. BRIDGELINE DIGITAL, INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (in thousands, except share and per share data) The Heritage Agreement provides for up to $ 2.5 may $2.5 75% $1.0 may not may 1.75%, 6% December 31, 2017, $2.5 A Director and Shareholder of the Company, Michael Taglich, signed an unconditional guaranty (the “Guaranty”) and promise to pay Heritage Bank all indebtedness in an amount not $1.5 may one 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 Le nder, and all proceeds thereof. Upon default or breach of any of Guarantor's obligations to Lender, Lender may may Amendments – Heritage Bank An amendment to the Heritage Agreement (“First Amendment”) was executed on August 15, 2016 d a waiver for the Adjusted EBITDA metric for the quarter ended June 30, 2016. $3.0 $2.5 September 30, 2016, $500 September 30, 2016. On December 14, 2016, second $250 first 2017. On August 10, 2017, third June 9, 2019. On October 6, 2017, a fourth second October 10, 2017, On November 27, 2017, fifth second 2017 first six 2018. thirty BRIDGELINE DIGITAL, INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (in thousands, except share and per share data) Montage Capital II, L.P. Loan Agreement On October 10, 2017, thirty-six 36 October 10, 2020. $1.5 may $1 $500 ’s option in the event that the Company achieves certain financial milestones and is otherwise in compliance with its loan covenants (the “Second Tranche”). Borrowings bear interest at the rate of 12.75% $47 first nine July 1, 2018, $26 $39 second second October 10, 2017, As additional consideration for the Loan, the Company issued to Montage an eight (the “Warrant”) to purchase 66,315 $2.65 may 100,082 1 2 3 13 14 2 1934. Montage shall have the right to receive an equity buy-out of either $250 $375 $341 three December 31, 2017 $25. |
Note 8 - Other Long Term Liabil
Note 8 - Other Long Term Liabilities | 3 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Noncurrent [Text Block] | 8 . Other Long Term Liabilities Deferred Rent In connection with the lease in Massachusetts, the Company made an investment in leasehold improvements at this location of approximately $1.4 $657 December 31, 2017 , $150 $11 September 30, 2017, $154 $43 Warrant Liability The warrant issued to Montage Capital is included in Other Long Term Liabilities in the Condensed Consolidated Balance Sheet. The fair value of the warrant was valued at the loan execution date in the amount of $341 December 31, 2017 $338. |
Note 9 - Shareholders' Equity
Note 9 - Shareholders' Equity | 3 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 9 . Shareholder s ’ Equity Preferred Stock In October 2014, 200,000 Preferred Stock”) at a purchase price of $10.00 $2.0 may $10.00 $16.25, may $32.50 ten may 144. As of December 31, 2017, 1,636 1,007 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 p reference 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 . The Company may January 1, 2017, umulative dividends are payable at a rate of 12% two 6% 12% not may 64,000 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 x five 5 $32.50 As of December 31, 2017, 52 ,563 January 1, 2018. January 1, 2018 7,567 12%. Stock Incentive Plans The Company has granted common stock, common stock warrants, and common stock option awards (the “ Equity Awards”) to employees, consultants, advisors and debt holders of the Company and to former owners and employees of acquired companies that have become employees of the Company. On April 29, 2016, 2016 “2016 2016 August 2016. 2016 500,000 December 31, 2017, 224 ,166 275 ,834 Common Stock Warrants The Company typically issues warrants to individual investors and placement agents to purchase shares of the Company ’s common stock in connection with private placement fund raising activities. Warrants may six five As of December 31, 2017, 227,655 , 311,938 66,315 . Certain of the Company’s officers and directors have also been issued warrants. Included in the total warrants outstanding are warrants to purchase 8,600 November 2016 152,812 guaranteed $1.5 80,000. Total warrants outstanding as December 31, 2017 Issue Type Date Shares Price Expiration Investors 6/19/2013 18,400 $ 31.25 6/19/2018 Placement Agent 6/19/2013 9,200 $ 31.25 6/19/2018 Placement Agent 9/30/2013 6,157 $ 32.50 9/30/2018 Placement Agent 11/6/2013 3,078 $ 32.50 11/6/2018 Placement Agent 3/28/2014 12,800 $ 26.25 3/28/2019 Placement Agent 10/28/2014 12,308 $ 16.25 10/28/2019 Director/Shareholder 12/31/2014 12,000 $ 20.00 12/31/2019 Director/Shareholder 2/12/2015 12,000 $ 20.00 2/12/2020 Director/Shareholder 5/12/2015 12,000 $ 20.00 5/12/2020 Director/Shareholder 7/21/2015 32,000 $ 8.75 7/21/2018 Director/Shareholder 12/31/2015 6,000 $ 20.00 12/31/2020 Placement Agent 5/17/2016 86,778 $ 3.75 5/17/2021 Placement Agent 5/11/2016 53,334 $ 3.75 5/11/2021 Placement Agent 7/15/2016 44,000 $ 4.60 7/15/2021 Investors 11/9/2016 213,538 $ 3.50 5/22/2022 Director/Shareholder 12/31/2016 6,000 $ 20.00 12/31/2021 Financing 10/10/2017 66,315 $ 2.65 10/10/2025 Total 605,908 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, 2017 450,646 $ 7.02 539,593 $ 8.18 Granted 800 $ 2.92 66,315 $ 2.65 Exercised - $ - - - Forfeited or expired (1,520 ) $ (4.82 ) - - Outstanding, December 31, 2017 449,926 $ 7.02 605,908 $ 7.57 |
Note 10 - Net Loss Per Share
Note 10 - Net Loss Per Share | 3 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 1 0 . Net Loss Per Share Bas ic and diluted net loss per share is computed as follows: Three Months Ended (in thousands, except per share data) December 31, 2017 2016 Net loss $ (430 ) $ (408 ) Accrued dividends on convertible preferred stock (75 ) (68 ) Net loss applicable to common shareholders $ (505 ) $ (476 ) Weighted average common shares outstanding - basic and diluted 4,200 4,012 Net loss per share attributable to common shareholders: Basic and diluted $ (0.12 ) $ (0.12 ) 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 and preferred stock using the “treasury stock” method. The computation of diluted earnings per share does not . For the three months ended December 31, 2017, 605,908 For the three December 31, 2016, ’s common stock were considered anti-dilutive, as the options were all valued at less than the current market price. Warrants to purchase 548,281 |
Note 11 - Income Taxes
Note 11 - Income Taxes | 3 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 1 1 . Income Taxes Income tax expense was $ 1 $12 three December 31, 2017 2016. The Company does not U.S. income taxes on the undistributed earnings of its Indian subsidiary, which the Company considers to be a permanent investment. |
Note 12 - Related Party Transac
Note 12 - Related Party Transactions | 3 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 1 2 . Related Party Transactions In October 2013, ’s private offerings in 2012, 2013, 2014, 2016. $3 2013 2015. 22% $1.5 8% |
Note 13 - Legal Proceedsings
Note 13 - Legal Proceedsings | 3 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Legal Matters and Contingencies [Text Block] | 1 3 . Legal Proceedings The Company is subject to ordinary routine litigation and claims incidental to its business. As of December 31, 2017, not |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Dec. 31, 2017 | |
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 balances and transactions have been eliminated in consolidation. |
Basis of Accounting, Policy [Policy Text Block] | Unaudited Interim Financial Information The unaudited 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 instructions to Form 10 X, three December 31, 2017 not September 30, 2018. September 30, 2017 not 10 September 30, 2017. |
Subsequent Events, Policy [Policy Text Block] | Subsequent Events The Company evaluated subsequent events through the date of this filing and concluded there were no |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements Revenue Recognition In May 2014, ASU”) No. 2014 09, 606 2014 09 2014 09 December 15, 2017, 2014 09 2014 09 five may 2014 09 first 2019. Companies may 2014 09 2014 09, 2014 09 no 2014 09 The Company plans to adopt the standard using the full retrospective method to restate each prior reporting period presented. Additionally, as the Company continues to assess the new standard along with industry trends and additional interpretive guidance, the Company may As the Company is continuing to assess all potential impacts of the new standard, it currently believes that the impact will not not not first 1 2 Another significant provision under ASU 2014 09 the Company expenses sales commissions in the period incurred. Under ASU 2014 09, 2014 09, may may Leases In February 2 016, No. 2016 02, No, 2016 02 December 15, 2018. Income Taxes On December 22, 2017, Tax Act”). The Tax Act makes broad and complex changes to the U.S. tax code that will affect the Company’s fiscal year ending September 30, 2018, not 21 September 30, 2018. not no December 31, 2017. The changes included in the Tax Act are broad and complex. The final transition impacts of the Tax Act may any legislative action to address questions that arise because of the Tax Act, any changes in accounting standards for income taxes or related interpretations in response to the Tax Act, or any updates or changes to estimates the company has utilized to calculate the transition impact. The Securities Exchange Commission has issued rules that would allow for a measurement period of up to one September 30, 2018 . Cash Flows In August 2016, 2016 15, actice in how certain transactions are classified in the statement of cash flows, specifically certain cash receipts and cash payments. The standard is effective for public business entities financial statements issued for fiscal years beginning after December 15, 2017, Management does not In November 2016, No. 2016 18 requires entities to include in their cash and cash-equivalent balances in the statement of cash flows those amounts that are deemed to be restricted cash and restricted cash equivalents. As a result, companies will no December 15, 2017. 2016 18 2016 18 Goodwill In January 2017, No. 2017 04 2 not December 31, 2020 Business Combinations In January 2017, No. 2017 01, 805 2017 01 December 15, 2017, All other Accounting Standards Updates issued but not not ’s future financial statements. |
Note 3 - Accounts Receivable 21
Note 3 - Accounts Receivable and Unbilled Receivables (Tables) | 3 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | As of As of December 31, 2017 September 30, 2017 Accounts receivable $ 3,090 $ 3,174 Unbilled receivables 204 41 Subtotal 3,294 3,215 Allowance for doubtful accounts (86 ) (189 ) Accounts receivable and unbilled receivables, net $ 3,208 $ 3,026 |
Note 4 - Fair Value Measureme22
Note 4 - Fair Value Measurement and Fair Value of Financial Instruments (Tables) | 3 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | As of December 31, 2017 Level 1 Level 2 Level 3 Total Liabilities: Warrant liability $ - $ - $ 338 $ 338 Total Liabilities $ - $ - $ 338 $ 338 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Three Months Ended December 31, 2017 Balance at beginning of period, October 1, 2017 $ - Additions 341 Adjustment to fair value (3 ) Balance at end of period, December 31, 2017 $ 338 |
Note 5 - Intangible Assets (Tab
Note 5 - Intangible Assets (Tables) | 3 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | As of As of December 31, 2017 September 30, 2017 Domain and trade names $ 10 $ 10 Customer related 125 179 Non-compete agreements 56 74 Balance at end of period $ 191 $ 263 |
Note 6 - Restructuring (Tables)
Note 6 - Restructuring (Tables) | 3 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | Facility Closures and Other Costs Balance at beginning of period, October 1, 2017 $ 176 Charges to operations - Cash disbursements (67 ) Changes in estimates - Balance at end of period, December 31, 2017 $ 109 |
Restructuring and Related Costs [Table Text Block] | As of As of December 31, 2017 September 30, 2017 Facilities and related $ 103 $ 133 Other 6 43 Total $ 109 $ 176 |
Note 7 - Debt (Tables)
Note 7 - Debt (Tables) | 3 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | As of As of December 31, 2017 September 30, 2017 Line of credit borrowings $ 2,500 $ 2,500 Term loan - Montage Capital 1,000 - Subtotal debt $ 3,500 $ 2,500 Other (debt discount) $ (316 ) - Total debt $ 3,184 $ 2,500 Less current portion $ 42 $ - Long term debt, net of current portion $ 3,142 $ 2,500 |
Note 9 - Shareholders' Equity (
Note 9 - Shareholders' Equity (Tables) | 3 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Issue Type Date Shares Price Expiration Investors 6/19/2013 18,400 $ 31.25 6/19/2018 Placement Agent 6/19/2013 9,200 $ 31.25 6/19/2018 Placement Agent 9/30/2013 6,157 $ 32.50 9/30/2018 Placement Agent 11/6/2013 3,078 $ 32.50 11/6/2018 Placement Agent 3/28/2014 12,800 $ 26.25 3/28/2019 Placement Agent 10/28/2014 12,308 $ 16.25 10/28/2019 Director/Shareholder 12/31/2014 12,000 $ 20.00 12/31/2019 Director/Shareholder 2/12/2015 12,000 $ 20.00 2/12/2020 Director/Shareholder 5/12/2015 12,000 $ 20.00 5/12/2020 Director/Shareholder 7/21/2015 32,000 $ 8.75 7/21/2018 Director/Shareholder 12/31/2015 6,000 $ 20.00 12/31/2020 Placement Agent 5/17/2016 86,778 $ 3.75 5/17/2021 Placement Agent 5/11/2016 53,334 $ 3.75 5/11/2021 Placement Agent 7/15/2016 44,000 $ 4.60 7/15/2021 Investors 11/9/2016 213,538 $ 3.50 5/22/2022 Director/Shareholder 12/31/2016 6,000 $ 20.00 12/31/2021 Financing 10/10/2017 66,315 $ 2.65 10/10/2025 Total 605,908 |
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, 2017 450,646 $ 7.02 539,593 $ 8.18 Granted 800 $ 2.92 66,315 $ 2.65 Exercised - $ - - - Forfeited or expired (1,520 ) $ (4.82 ) - - Outstanding, December 31, 2017 449,926 $ 7.02 605,908 $ 7.57 |
Note 10 - Net Loss Per Share (T
Note 10 - Net Loss Per Share (Tables) | 3 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended (in thousands, except per share data) December 31, 2017 2016 Net loss $ (430 ) $ (408 ) Accrued dividends on convertible preferred stock (75 ) (68 ) Net loss applicable to common shareholders $ (505 ) $ (476 ) Weighted average common shares outstanding - basic and diluted 4,200 4,012 Net loss per share attributable to common shareholders: Basic and diluted $ (0.12 ) $ (0.12 ) |
Note 1 - Description of Busin28
Note 1 - Description of Business (Details Textual) $ / shares in Units, $ in Thousands | Oct. 10, 2017USD ($) | Jul. 24, 2017$ / sharesshares | Jun. 30, 2016USD ($) | Dec. 31, 2017USD ($)$ / sharesshares | Dec. 31, 2016USD ($) | Dec. 31, 2017USD ($)$ / sharesshares | Sep. 30, 2017USD ($)$ / sharesshares | May 19, 2017USD ($) | Sep. 30, 2016USD ($) |
Common Stock, Shares, Outstanding | shares | 4,200,000 | 4,200,219 | 4,200,219 | 4,200,219 | |||||
Common Stock, Par or Stated Value Per Share | $ / shares | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | |||||
Common Stock, Shares Authorized | shares | 50,000,000 | 50,000,000 | 50,000,000 | 50,000,000 | |||||
Proceeds from Issuance of Long-term Debt | $ 953 | ||||||||
Maximum Value of Shares Allowed to Be Offered | $ 10,000 | ||||||||
Cash and Cash Equivalents, at Carrying Value | 1,117 | $ 1,428 | $ 1,117 | $ 748 | $ 661 | ||||
May 2017 Registered Securities [Member] | |||||||||
Proceeds from Issuance or Sale of Equity | 0 | ||||||||
Non-Revolving Term Loan [Member] | Loan Agreement [Member] | |||||||||
Debt Instrument, Term | 3 years | ||||||||
Debt Agreement Maximum Borrowing Capacity | $ 1,500 | ||||||||
Proceeds from Issuance of Long-term Debt | 1,000 | ||||||||
Debt Instrument, Additional Borrowing, Subject to Restrictions | $ 500 | ||||||||
Heritage Agreement [Member] | |||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 2,500 | 2,500 | 2,500 | ||||||
Long-term Line of Credit | $ 2,500 | $ 2,500 | |||||||
Debt Instrument, Term | 2 years | ||||||||
Reverse Stock Split [Member] | |||||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 5 | ||||||||
Pre Reverse Stock Split [Member] | |||||||||
Common Stock, Shares, Outstanding | shares | 21,000,000 |
Note 2 - Summary of Significa29
Note 2 - Summary of Significant Accounting Policies (Details Textual) | 12 Months Ended |
Sep. 30, 2019 | |
Scenario, Forecast [Member] | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% |
Note 3 - Accounts Receivable 30
Note 3 - Accounts Receivable and Unbilled Receivables (Details Textual) - Customer Concentration Risk [Member] - Sales Revenue, Net [Member] | 3 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Number of Major Customers | 2 | 1 |
Customer One [Member] | ||
Concentration Risk, Percentage | 11.00% | |
Customer Two [Member] | ||
Concentration Risk, Percentage | 12.00% | |
One Customer [Member] | ||
Concentration Risk, Percentage | 12.00% |
Note 3 - Accounts Receivable 31
Note 3 - Accounts Receivable and Unbilled Receivables - Summary of Accounts Receivable and Unbilled Receivables (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Sep. 30, 2017 |
Accounts receivable | $ 3,294 | $ 3,215 |
Allowance for doubtful accounts | (86) | (189) |
Accounts receivable and unbilled receivables, net | 3,208 | 3,026 |
Trade Accounts Receivable [Member] | ||
Accounts receivable | 3,090 | 3,174 |
Unbilled Receivables [Member] | ||
Accounts receivable | $ 204 | $ 41 |
Note 4 - Fair Value Measureme32
Note 4 - Fair Value Measurement and Fair Value of Financial Instruments (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2017 | Oct. 10, 2017 | |
Warrants Issued as Consideration for Loan [Member] | ||
Warrants and Rights Outstanding | $ 341 | |
Warrants Issued as Consideration for Loan [Member] | Other Noncurrent Liabilities [Member] | ||
Warrants and Rights Outstanding | $ 338 | |
Warrants [Member] | ||
Fair Value Assumptions, Expected Term | 8 years | |
Fair Value Assumptions, Expected Volatility Rate | 80.00% | |
Fair Value Assumptions, Risk Free Interest Rate | 2.24% |
Note 4 - Fair Value Measureme33
Note 4 - Fair Value Measurement and Fair Value of Financial Instruments - Assets and Liabilities Measured at Fair Values on a Recurring Basis (Details) - Fair Value, Measurements, Recurring [Member] $ in Thousands | Dec. 31, 2017USD ($) |
Liabilities: | |
Warrant liability | $ 338 |
Total liabilities | 338 |
Fair Value, Inputs, Level 1 [Member] | |
Liabilities: | |
Warrant liability | |
Total liabilities | |
Fair Value, Inputs, Level 2 [Member] | |
Liabilities: | |
Warrant liability | |
Total liabilities | |
Fair Value, Inputs, Level 3 [Member] | |
Liabilities: | |
Warrant liability | 338 |
Total liabilities | $ 338 |
Note 4 - Fair Value Measureme34
Note 4 - Fair Value Measurement and Fair Value of Financial Instruments - Changes in Contingent Consideration (Details) - Warrants [Member] - Fair Value, Inputs, Level 3 [Member] $ in Thousands | 3 Months Ended |
Dec. 31, 2017USD ($) | |
Balance at beginning of period, October 1, 2017 | |
Additions | 341 |
Adjustment to fair value | (3) |
Balance at end of period, December 31, 2017 | $ 338 |
Note 5 - Intangible Assets (Det
Note 5 - Intangible Assets (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Amortization of Intangible Assets | $ 72 | $ 71 |
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year | 175 | |
Finite-Lived Intangible Assets, Amortization Expense, Year Two | $ 16 |
Note 5 - Intangible Assets - Ch
Note 5 - Intangible Assets - Changes in the Carrying Amount of Intangible Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Sep. 30, 2017 |
Finite Lived Intangible Assets, Net | $ 191 | $ 263 |
Domain And Trade Names [Member] | ||
Finite Lived Intangible Assets, Net | 10 | 10 |
Customer-Related Intangible Assets [Member] | ||
Finite Lived Intangible Assets, Net | 125 | 179 |
Noncompete Agreements [Member] | ||
Finite Lived Intangible Assets, Net | $ 56 | $ 74 |
Note 6 - Restructuring (Details
Note 6 - Restructuring (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2017 | Sep. 30, 2017 |
Restructuring Reserve | $ 109 | $ 176 |
Accrued Liabilities, Current [Member] | ||
Restructuring Reserve | 57 | 119 |
Other Noncurrent Liabilities [Member] | ||
Restructuring Reserve | $ 52 | $ 57 |
Note 6 - Restructuring - Restru
Note 6 - Restructuring - Restructuring Charges Reserve Activity (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Balance | $ 176 | |
Charges to operations | $ 31 | |
Balance | 109 | |
Facility Closing [Member] | ||
Balance | 176 | |
Charges to operations | ||
Cash disbursements | (67) | |
Changes in estimates | ||
Balance | $ 109 |
Note 6 - Restructuring - Accrue
Note 6 - Restructuring - Accrued Restructuring Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Sep. 30, 2017 |
Restructuring Reserve | $ 109 | $ 176 |
Facilities and Related [Member] | ||
Restructuring Reserve | 103 | 133 |
Other Restructuring Costs [Member] | ||
Restructuring Reserve | $ 6 | $ 43 |
Note 7 - Debt (Details Textual)
Note 7 - Debt (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Oct. 10, 2017 | Jun. 30, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Jun. 09, 2019 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | Dec. 14, 2016 | Sep. 30, 2016 | Aug. 15, 2016 |
Proceeds from Issuance of Long-term Debt | $ 953 | ||||||||||
Warrants Term | 5 years | ||||||||||
Amortization of Debt Discount (Premium) | $ 25 | ||||||||||
Warrants Issued as Consideration for Loan [Member] | |||||||||||
Warrants Term | 8 years | ||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 66,315 | 66,315 | 66,315 | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 2.65 | ||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights, Advance Second Tranche | 100,082 | ||||||||||
Equity Buy-out, First Tranche | $ 250 | ||||||||||
Equity Buy-out, First Tranche and Second Tranche | 375 | ||||||||||
Warrants and Rights Outstanding | $ 341 | ||||||||||
Michael Taglich [Member] | |||||||||||
Guaranty Agreement, Out of Formula Borrowings Available, Maximum | $ 1,500 | $ 1,500 | |||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 152,812 | 152,812 | |||||||||
Bridge Bank Loan Agreement [Member] | Michael Taglich [Member] | |||||||||||
Guaranty Agreement, Out of Formula Borrowings Available, Maximum | $ 1,500 | $ 1,500 | |||||||||
Loan Agreement [Member] | Non-Revolving Term Loan [Member] | |||||||||||
Debt Instrument, Term | 3 years | ||||||||||
Debt Agreement Maximum Borrowing Capacity | $ 1,500 | ||||||||||
Proceeds from Issuance of Long-term Debt | 1,000 | ||||||||||
Debt Instrument, Additional Borrowing, Subject to Restrictions | $ 500 | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.75% | ||||||||||
Payments of Financing Costs | $ 47 | ||||||||||
Debt Instrument, Monthly Payment, Principal, When First Tranche Received | 26 | ||||||||||
Debt Instrument, Monthly Payment, Principal, When First Tranche and Second Tranche Received | $ 39 | ||||||||||
Heritage Agreement [Member] | |||||||||||
Debt Instrument, Term | 2 years | ||||||||||
Line of Credit Facility, Commitment Fee Percentage | 0.40% | ||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 2,500 | 2,500 | 2,500 | ||||||||
Line of Credit Facility, Maximum Borrowing Capacity, Percentage of Eligible Receivables | 75.00% | ||||||||||
Guaranty Agreement, Out of Formula Borrowings Available, Maximum | $ 1,000 | ||||||||||
Long-term Line of Credit | $ 2,500 | $ 2,500 | |||||||||
Heritage Agreement [Member] | First Amendment [Member] | |||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 3,000 | $ 2,500 | |||||||||
Line of Credit, Minimum Cash Requirement in Lender Bank Account | $ 500 | ||||||||||
Heritage Agreement [Member] | Second Amendment [Member] | |||||||||||
Line of Credit, Minimum Cash Requirement in Lender Bank Account | $ 250 | ||||||||||
Heritage Agreement [Member] | Wall Street Journal Prime Rate [Member] | |||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.75% | 6.00% | |||||||||
Heritage Agreement [Member] | Scenario, Forecast [Member] | |||||||||||
Line of Credit Facility, Commitment Fee Percentage | 0.20% | ||||||||||
Line of Credit Facility, Annual Commitment Fee Amount, Thereafter | $ 6 |
Note 7 - Debt - Summary of Debt
Note 7 - Debt - Summary of Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Sep. 30, 2017 |
Debt | $ 3,500 | $ 2,500 |
Debt | 3,500 | 2,500 |
Other (debt discount) | 316 | |
Total debt | 3,184 | 2,500 |
Less current portion | 42 | |
Long term debt, net of current portion | 3,142 | 2,500 |
Non-Revolving Term Loan [Member] | ||
Debt | 1,000 | |
Debt | 1,000 | |
Heritage Agreement [Member] | ||
Debt | 2,500 | 2,500 |
Debt | $ 2,500 | $ 2,500 |
Note 8 - Other Long Term Liab42
Note 8 - Other Long Term Liabilities (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2017 | Oct. 10, 2017 | Sep. 30, 2017 |
Leasehold Improvements, Gross | $ 1,400 | ||
Other Liabilities, Noncurrent | 444 | $ 172 | |
Warrants Issued as Consideration for Loan [Member] | |||
Warrants and Rights Outstanding | $ 341 | ||
Warrants Issued as Consideration for Loan [Member] | Other Noncurrent Liabilities [Member] | |||
Warrants and Rights Outstanding | 338 | ||
Leasehold Improvements [Member] | |||
Accrued Liabilities | 150 | 154 | |
Other Liabilities, Noncurrent | 11 | $ 43 | |
Paid By Landlord [Member] | |||
Leasehold Improvements, Gross | $ 657 |
Note 9 - Shareholders' Equity43
Note 9 - Shareholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Millions | Jan. 01, 2018 | Oct. 10, 2017 | Jan. 01, 2017 | Oct. 27, 2014 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2017 | Sep. 30, 2017 | Apr. 29, 2017 | Nov. 30, 2016 |
Warrants Exercisable Term | 180 days | |||||||||
Warrants Term | 5 years | |||||||||
Michael Taglich [Member] | ||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 152,812 | 152,812 | ||||||||
Guaranty Agreement, Out of Formula Borrowings Available, Maximum | $ 1.5 | $ 1.5 | ||||||||
Placement Agent Warrants [Member] | ||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 227,655 | 227,655 | ||||||||
Individual Investors [Member] | ||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 311,938 | 311,938 | ||||||||
Warrants Issued as Consideration for Loan [Member] | ||||||||||
Warrants Term | 8 years | |||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 66,315 | 66,315 | 66,315 | |||||||
Purchaser Warrant [Member] | Private Placement [Member] | Roger Kahn [Member] | ||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 8,600 | |||||||||
Warrants Issued in Connection with Credit Facility with Heritage Bank [Member] | Michael Taglich [Member] | ||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 80,000 | 80,000 | ||||||||
The 2016 Stock Incentive Plan [Member] | ||||||||||
Common Stock, Capital Shares Reserved for Future Issuance | 500,000 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 224,166 | 224,166 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 275,834 | 275,834 | ||||||||
Convertible Preferred Stock Converted to Common Stock [Member] | ||||||||||
Conversion of Stock, Shares Converted | 1,636 | |||||||||
Conversion of Stock, Shares Issued | 1,007 | |||||||||
Series A Convertible Preferred Stock [Member] | ||||||||||
Stock Issued During Period, Shares, New Issues | 200,000 | |||||||||
Share Price | $ 10 | |||||||||
Gross Proceeds From Sale of Stock | $ 2 | |||||||||
Preferred Stock Conversion Price | $ 16.25 | |||||||||
Minimum Common Stock Price Allowing Company to Force Convert Preferred Stock | $ 32.50 | |||||||||
Preferred Stock, Dividend Rate, Percentage | 12.00% | 6.00% | ||||||||
Preferred Stock Dividends, Shares, Maximum Cumulative | 64,000 | |||||||||
Convertible Preferred Stock [Member] | ||||||||||
Preferred Stock Dividends, Shares | 52,563 | |||||||||
Convertible Preferred Stock [Member] | Subsequent Event [Member] | ||||||||||
Preferred Stock, Dividend Rate, Percentage | 12.00% | |||||||||
Preferred Stock Dividends, Shares | 7,567 |
Note 9 - Shareholders' Equity -
Note 9 - Shareholders' Equity - Stock Warrants Outstanding (Details) | 3 Months Ended |
Dec. 31, 2017$ / sharesshares | |
Stock Warrants Outstanding, Shares (in shares) | 605,908 |
Investor Stock Warrants 1 [Member] | |
Stock Warrants Outstanding, Issue Date | Jun. 19, 2013 |
Stock Warrants Outstanding, Shares (in shares) | 18,400 |
Stock Warrants Outstanding, Price (in dollars per share) | $ / shares | $ 31.25 |
Stock Warrants Outstanding, Expiration | Jun. 19, 2018 |
Placement Agent Stock Warrants 1 [Member] | |
Stock Warrants Outstanding, Issue Date | Jun. 19, 2013 |
Stock Warrants Outstanding, Shares (in shares) | 9,200 |
Stock Warrants Outstanding, Price (in dollars per share) | $ / shares | $ 31.25 |
Stock Warrants Outstanding, Expiration | Jun. 19, 2018 |
Placement Agent Stock Warrants 2 [Member] | |
Stock Warrants Outstanding, Issue Date | Sep. 30, 2013 |
Stock Warrants Outstanding, Shares (in shares) | 6,157 |
Stock Warrants Outstanding, Price (in dollars per share) | $ / shares | $ 32.50 |
Stock Warrants Outstanding, Expiration | Sep. 30, 2018 |
Placement Agent Stock Warrants 3 [Member] | |
Stock Warrants Outstanding, Issue Date | Nov. 6, 2013 |
Stock Warrants Outstanding, Shares (in shares) | 3,078 |
Stock Warrants Outstanding, Price (in dollars per share) | $ / shares | $ 32.50 |
Stock Warrants Outstanding, Expiration | Nov. 6, 2018 |
Placement Agent Stock Warrants 4 [Member] | |
Stock Warrants Outstanding, Issue Date | Mar. 28, 2014 |
Stock Warrants Outstanding, Shares (in shares) | 12,800 |
Stock Warrants Outstanding, Price (in dollars per share) | $ / shares | $ 26.25 |
Stock Warrants Outstanding, Expiration | Mar. 28, 2019 |
Placement Agent Stock Warrants 5 [Member] | |
Stock Warrants Outstanding, Issue Date | Oct. 28, 2014 |
Stock Warrants Outstanding, Shares (in shares) | 12,308 |
Stock Warrants Outstanding, Price (in dollars per share) | $ / shares | $ 16.25 |
Stock Warrants Outstanding, Expiration | Oct. 28, 2019 |
Director/Shareholder 1 [Member] | |
Stock Warrants Outstanding, Issue Date | Dec. 31, 2014 |
Stock Warrants Outstanding, Shares (in shares) | 12,000 |
Stock Warrants Outstanding, Price (in dollars per share) | $ / shares | $ 20 |
Stock Warrants Outstanding, Expiration | Dec. 31, 2019 |
Director/Shareholder 2 [Member] | |
Stock Warrants Outstanding, Issue Date | Feb. 12, 2015 |
Stock Warrants Outstanding, Shares (in shares) | 12,000 |
Stock Warrants Outstanding, Price (in dollars per share) | $ / shares | $ 20 |
Stock Warrants Outstanding, Expiration | Feb. 12, 2020 |
Director/Shareholder 3 [Member] | |
Stock Warrants Outstanding, Issue Date | May 12, 2015 |
Stock Warrants Outstanding, Shares (in shares) | 12,000 |
Stock Warrants Outstanding, Price (in dollars per share) | $ / shares | $ 20 |
Stock Warrants Outstanding, Expiration | May 12, 2020 |
Director/Shareholder 4 [Member] | |
Stock Warrants Outstanding, Issue Date | Jul. 21, 2015 |
Stock Warrants Outstanding, Shares (in shares) | 32,000 |
Stock Warrants Outstanding, Price (in dollars per share) | $ / shares | $ 8.75 |
Stock Warrants Outstanding, Expiration | Jul. 21, 2018 |
Director/Shareholder 5 [Member] | |
Stock Warrants Outstanding, Issue Date | Dec. 31, 2015 |
Stock Warrants Outstanding, Shares (in shares) | 6,000 |
Stock Warrants Outstanding, Price (in dollars per share) | $ / shares | $ 20 |
Stock Warrants Outstanding, Expiration | Dec. 31, 2020 |
Placement Agent Stock Warrants 6 [Member] | |
Stock Warrants Outstanding, Issue Date | May 17, 2016 |
Stock Warrants Outstanding, Shares (in shares) | 86,778 |
Stock Warrants Outstanding, Price (in dollars per share) | $ / shares | $ 3.75 |
Stock Warrants Outstanding, Expiration | May 17, 2021 |
Placement Agent Stock Warrants 7 [Member] | |
Stock Warrants Outstanding, Issue Date | May 11, 2016 |
Stock Warrants Outstanding, Shares (in shares) | 53,334 |
Stock Warrants Outstanding, Price (in dollars per share) | $ / shares | $ 3.75 |
Stock Warrants Outstanding, Expiration | May 11, 2021 |
Placement Agent Stock Warrants 8 [Member] | |
Stock Warrants Outstanding, Issue Date | Jul. 15, 2016 |
Stock Warrants Outstanding, Shares (in shares) | 44,000 |
Stock Warrants Outstanding, Price (in dollars per share) | $ / shares | $ 4.60 |
Stock Warrants Outstanding, Expiration | Jul. 15, 2021 |
Investor Stock Warrants 2 [Member] | |
Stock Warrants Outstanding, Issue Date | Nov. 9, 2016 |
Stock Warrants Outstanding, Shares (in shares) | 213,538 |
Stock Warrants Outstanding, Price (in dollars per share) | $ / shares | $ 3.50 |
Stock Warrants Outstanding, Expiration | May 22, 2022 |
Director/Shareholder 6 [Member] | |
Stock Warrants Outstanding, Issue Date | Dec. 31, 2016 |
Stock Warrants Outstanding, Shares (in shares) | 6,000 |
Stock Warrants Outstanding, Price (in dollars per share) | $ / shares | $ 20 |
Stock Warrants Outstanding, Expiration | Dec. 31, 2021 |
Financing Warrants [Member] | |
Stock Warrants Outstanding, Issue Date | Oct. 10, 2017 |
Stock Warrants Outstanding, Shares (in shares) | 66,315 |
Stock Warrants Outstanding, Price (in dollars per share) | $ / shares | $ 2.65 |
Stock Warrants Outstanding, Expiration | Oct. 10, 2025 |
Note 9 - Shareholders' Equity45
Note 9 - Shareholders' Equity - Summary of Option and Warrant Activity and Outstanding Shares (Details) | 3 Months Ended |
Dec. 31, 2017$ / shares$ / itemshares | |
Employee Stock Option [Member] | |
Outstanding, Options (in shares) | 450,646 |
Outstanding, Options, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 7.02 |
Granted, Options (in shares) | 800 |
Granted, Options, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 2.92 |
Exercised, Options (in shares) | |
Exercised, Options, Weighted Average Exercise Price (in dollars per share) | $ / shares | |
Forfeited or expired, Options (in shares) | (1,520) |
Forfeited or expired, Options, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ (4.82) |
Outstanding, Options (in shares) | 449,926 |
Outstanding, Options, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 7.02 |
Stock Warrants [Member] | |
Outstanding, Warrant (in shares) | 539,593 |
Outstanding, Warrant, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 8.18 |
Granted, Warrant (in shares) | 66,315 |
Granted, Warrant, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 2.65 |
Exercised, Warrant (in shares) | |
Exercised, Warrant, Weighted Average Exercise Price (in USD per Per Share) | $ / item | |
Forfeited or expired, Warrant (in shares) | |
Forfeited or expired, Warrant, Weighted Average Exercise Price (in dollars per share) | $ / shares | |
Outstanding, Warrant (in shares) | 605,908 |
Outstanding, Warrant, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 7.57 |
Note 10 - Net Loss Per Share (D
Note 10 - Net Loss Per Share (Details Textual) - shares | 3 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Warrant [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 605,908 | 548,281 |
Note 10 - Net Loss Per Share -
Note 10 - Net Loss Per Share - Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Net Loss | $ (430) | $ (408) |
Dividends on convertible preferred stock | (75) | (68) |
Net loss applicable to common shareholders | $ (505) | $ (476) |
Weighted average common shares outstanding - basic and diluted (in shares) | 4,200,219 | 4,011,724 |
Basic and diluted (in dollars per share) | $ (0.12) | $ (0.12) |
Note 11 - Income Taxes (Details
Note 11 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Income Tax Expense (Benefit) | $ 1 | $ 12 |
Note 12 - Related Party Trans49
Note 12 - Related Party Transactions (Details Textual) - USD ($) $ in Millions | Dec. 31, 2017 | Sep. 30, 2013 |
Michael Taglich [Member] | ||
Related Party, Ownership Percentage Of Stock | 22.00% | |
Guaranty Agreement, Out of Formula Borrowings Available, Maximum | $ 1.5 | |
Robert Taglich [Member] | ||
Related Party, Ownership Percentage Of Stock | 8.00% | |
Convertible Subordinated Debt [Member] | ||
Convertible Notes Payable | $ 3 |