Consolidated Balance Sheets - USD ($)	Jun. 30, 2015	Jun. 30, 2014
Customer Lists [Member]
Property and equipment:
Finite-lived intangible assets, net	$ 2,502,000	$ 2,981,000
Trade Names [Member]
Property and equipment:
Finite-lived intangible assets, net	2,079,000	2,382,000
Cash	2,762,000	9,557,000
Accounts receivable, less allowance of $180,000 and $211,000 in 2015 and 2014	$ 15,061,000	15,290,000
Income tax receivable		1,088,000
Other receivables	$ 886,000	922,000
Inventory	103,000	101,000
Prepaid expenses and other current assets	1,038,000	2,021,000
Deferred tax assets	73,000	119,000
Total current assets	19,923,000	29,098,000
Computer software and equipment	5,095,000	8,160,000
Office furniture and equipment	1,329,000	1,444,000
Leasehold improvements	486,000	579,000
Property, plant and equipment, gross	6,910,000	10,183,000
Less accumulated depreciation and amortization	(5,857,000)	(7,600,000)
Property, plant and equipment, net	1,053,000	2,583,000
Finite-lived intangible assets, net	4,581,000	5,363,000
Goodwill	16,544,000	16,758,000
Deferred income taxes	4,364,000	4,732,000
Other assets	299,000	223,000
Total assets	46,764,000	$ 58,757,000
Current liabilities:
Current portion of long term debt	3,150,000
Accounts payable and accrued expenses	10,558,000	$ 8,901,000
Accrued compensation and related benefits	1,866,000	1,973,000
Deferred revenue	$ 3,303,000	4,227,000
Obligations under capital leases		188,000
Income tax payable	$ 195,000	796,000
Total current liabilities	$ 19,072,000	16,085,000
Long-term liabilities:
Obligations under capital leases		$ 147,000
Notes payable, net of current portion	$ 14,775,000
Other long-term liabilities		$ 205,000
Total liabilities	$ 33,847,000	$ 16,437,000
Commitments and contingencies (Note 12)
Stockholders’ equity:
Convertible Preferred Stock, $0.01 par value; 1,300,537 shares authorized, 1,298,728 shares issued; 343,461 and 385,357 shares outstanding at June 30, 2015 and June 30, 2014; aggregate liquidation preference of $838,000 and $1,093,000 at June 30, 2015 and June 30, 2014, respectively	$ 3,000	$ 4,000
Common stock, $0.01 par value; 80,000,000 shares authorized; issued and outstanding shares of 29,766,756 and 54,491,296 at June 30, 2015 and June 30, 2014, respectively	298,000	545,000
Additional paid-in capital	35,714,000	66,028,000
Accumulated deficit	(23,164,000)	(25,205,000)
Accumulated other comprehensive income	66,000	948,000
Total stockholders’ equity	12,917,000	42,320,000
Total liabilities and stockholders’ equity	$ 46,764,000	$ 58,757,000

RAND WORLDWIDE INC 10-K