v3.26.1
Fixed assets
 9 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
Fixed assets

Note 8 - Fixed assets

 

Fixed assets consist of the following (in thousands):

  

   Estimated Useful Life  June 30, 2026   September 30, 2025 
Equipment  2 - 5 years  $19   $124 
Furniture and fixtures  2 - 5 years   —    214 
Computer software  2 - 3 years   13    202 
Total property and equipment      32    540 
Accumulated depreciation      (23)   (452)
Net property and equipment     $9   $88 

 

During the three months ended March 31, 2026, the Company recorded a non-cash fixed asset balance adjustment of approximately $0.07 million in connection with the reconciliation of fixed asset balances, substantially offset by a corresponding accumulated depreciation adjustment reflected as negative depreciation expense of approximately $(0.06) million during the period. The net impact resulted in an approximate $0.01 million decrease in fixed asset balances from September 30, 2025 to March 31, 2026.

 

Depreciation expense was $0.01 million and $(0.05) million for the three and nine months ended June 30, 2026, respectively.