XML 110 R11.htm IDEA: XBRL DOCUMENT v3.2.0.727
Liquidity
9 Months Ended
Jun. 30, 2015
Cash and Cash Equivalents [Abstract]  
Liquidity
Liquidity 

At June 30, 2015, the Company had cash and cash equivalents of approximately $4.7 million, net working capital of approximately $1.6 million, and an accumulated deficit of approximately $(62) million. For the nine months ended June 30, 2015, the Company realized operating income of approximately $1.5 million and net income of approximately $489 thousand, as compared to operating income and net income of $559 thousand and $582 thousand respectively for the nine months ended June 30, 2014.
 
The Company has a credit facility with a lending institution which provides a maximum amount of $6 million. The current term of the credit facility expires on July 29, 2016 and thereafter shall automatically renew on each anniversary date thereof for subsequent twelve month terms unless terminated by either party. Presently, the maximum availability under this loan facility is $3 million, subject to eligible accounts receivable.  The interest rate on both the Accounts Receivable and Unbilled Accounts portion of the loan was 4.0% at June 30, 2015, and September 30, 2014.  At June 30, 2015, our unused loan availability was approximately $2.5 million, comprised of a $1.4 million letter of credit reserve and $1.1 million of unused loan capacity. DLH required no borrowing on the credit facility during third quarter ended June 30, 2015.

Management believes, at present, that: (a) cash and cash equivalents of approximately $4.7 million as of June 30, 2015; (b) the amount available under its line of credit (which is limited to the amount of eligible assets); and (c) planned operating cash flow should be sufficient to support the Company's operations for twelve months from the date of these financial statements.