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|                                                                                                                                                                      |  |  |
| (Mark One)                                                                                                                                                           |   |   |
| ý                                                                                                                                                               |   | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
| For the fiscal year ended September 30, 2014                                                                                                                    |
| o                                                                                                                                                                    |   | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
| For the transition period from            to           |

|                                                                                   |
|-----------------------------------------------------------------------------------|
|                                                                                   |  |  |
| New Jersey(State or other jurisdiction ofincorporation or organization)           |   | 22-1899798(I.R.S. EmployerIdentification No.) |
| 1776 Peachtree Street, NWAtlanta, Georgia(Address of principal executive offices) |   | 30309(Zip Code) |

|                                         |
|-----------------------------------------|
|                                         |  |  |
| Title of Each Class                     |   | Name of Each Exchange on Which Registered |
| COMMON STOCK, PAR VALUE $.001 PER SHARE |   | THE NASDAQ STOCK MARKET, LLC |

|                                     |
|-------------------------------------|
|                                     |  |  |  |  |  |  |
| Large accelerated filer o |   | Accelerated filer o |   | Non-accelerated filer o (do not check if asmaller reporting company) |   | Smaller reporting company ý |

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|               |
|---------------|
|               |  |  |
|          |   |   |
|          |   | PAGE |
| PART I        |   |
| Item 1.  | Business | 3 |
| Item 1A. | Risk Factors | 8 |
| Item 1B. | Unresolved Staff Comments | 14 |
| Item 2.  | Properties | 14 |
| Item 3.  | Legal Proceedings | 14 |
| Item 4.  | Mine Safety Disclosure | 15 |
| PART II       |   |
| Item 5.  | Market For the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities | 15 |
| Item 6.  | Selected Financial Data | 17 |
| Item 7.  | Management's Discussion and Analysis of Financial Condition and Results of Operations | 17 |
| Item 7A. | Quantitative and Qualitative Disclosures About Market Risk | 27 |
| Item 8.  | Financial Statements and Supplemental Data | 27 |
| Item 9.  | Changes in and Disagreements With Accountants on Accounting and Financial Disclosure | 27 |
| Item 9A. | Controls and Procedures | 28 |
| Item 9B. | Other Information | 29 |
| PART III      |   |
| Item 10. | Directors, Executive Officers and Corporate Governance | 29 |
| Item 11. | Executive Compensation | 29 |
| Item 12. | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters | 29 |
| Item 13. | Certain Relationships and Related Transactions, and Director Independence | 29 |
| Item 14. | Principal Accountant Fees and Services | 29 |
| PART IV       |   |
| Item 15. | Exhibits and Financial Statement Schedules | 29 |

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|         |                                                                                               |
|---------|-----------------------------------------------------------------------------------------------|
| • | high barriers for entry into the selected healthcare and logistics markets in which we serve; |

|         |                                                                                          |
|---------|------------------------------------------------------------------------------------------|
| • | substantial component of our employee base possess specialized credentials and licenses; |

|         |                                                                                 |
|---------|---------------------------------------------------------------------------------|
| • | over 90% of our revenue is derived from prime contracts with the US Government; |

|         |                                                                                                                                                                                     |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | strong past performance record, as evidenced by our DVA customer scoring the highest in overall satisfaction in the J.D. Power National Pharmacy Study for the past five years; and |

|         |                                                                                                                       |
|---------|-----------------------------------------------------------------------------------------------------------------------|
| • | targeted expansion is in critical national priority markets (healthcare and health IT) with Federal budget stability. |

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|                     |
|---------------------|
|                     |  |  |  |  |  |
| Name                |   | Age |   | Positions |
| Zachary C. Parker   |   | 57 |  |   | President, Chief Executive Officer and Director |
| Kathryn M. JohnBull |   | 55 |  |   | Chief Financial Officer |
| John F. Armstrong   |   | 65 |  |   | Executive Vice President—Corporate Development |
| Kevin Wilson        |   | 49 |  |   | President, DLH Solutions, Inc. |

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|         |                                                                                                                                                                                  |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | we expend substantial cost and managerial time and effort to prepare bids and proposals for contracts that we may not win, and to defend those bids through any protest process; |

|         |                                                                                                                                    |
|---------|------------------------------------------------------------------------------------------------------------------------------------|
| • | we may be unable to estimate accurately the resources and cost structure that will be required to service any contract we win; and |

|         |                                                                                                                                                                                                                                                                                                                 |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | we may encounter expenses and delays if our competitors protest or challenge awards of contracts to us in competitive bidding, and any such protest or challenge could result in the resubmission of bids on modified specifications, or in the termination, reduction or modification of the awarded contract. |

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|         |                                                              |
|---------|--------------------------------------------------------------|
| • | actual or anticipated fluctuations in our operating results; |

|         |                                                                                     |
|---------|-------------------------------------------------------------------------------------|
| • | actual or anticipated changes in our growth rates or our competitors' growth rates; |

|         |                                                                               |
|---------|-------------------------------------------------------------------------------|
| • | actual or anticipated changes in healthcare or government policy in the U.S.; |

|         |                                                                                           |
|---------|-------------------------------------------------------------------------------------------|
| • | conditions in the financial markets in general or changes in general economic conditions; |

|         |                                                                   |
|---------|-------------------------------------------------------------------|
| • | our ability to stay in compliance with credit facility covenants; |

|         |                                                                                               |
|---------|-----------------------------------------------------------------------------------------------|
| • | our inability to raise additional capital when and if it is required for use in our business; |

|         |                                                                              |
|---------|------------------------------------------------------------------------------|
| • | conditions of our competitors or the government services industry generally; |

|         |                                                |
|---------|------------------------------------------------|
| • | conditions of our current and desired clients; |

|         |                                                                                                                                                       |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | changes in stock market analyst recommendations regarding our common stock, other comparable companies or the government services industry generally; |

|         |                                                                                                                                      |
|---------|--------------------------------------------------------------------------------------------------------------------------------------|
| • | the impact of our ability to effectively implement acquisitions, investments, joint ventures and divestitures that we may undertake; |

|         |                                                                                                                                                                                 |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | the impact of the volatility of the market value of comparable public companies that are considered in our valuation process and any publicly traded securities we may own; and |

|         |                                                                                                                                      |
|---------|--------------------------------------------------------------------------------------------------------------------------------------|
| • | the impact of litigation, government investigations or customer or other disputes on our operating performance and future prospects. |

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|         |                                      |
|---------|--------------------------------------|
| • | require certain supermajority votes; |

|         |                                                                                                                                                                                    |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | establish certain advance notice procedures for nomination of candidates for election as directors and for shareholders' proposals to be considered at shareholders' meetings; and |

|         |                                                                                                   |
|---------|---------------------------------------------------------------------------------------------------|
| • | divide the board of directors into three classes of directors serving staggered three-year terms. |

|                        |
|------------------------|
|                        |  |  |  |  |
| Location               | Approximate Square Feet |   | Expiration Date |
|                   |   |   |   |
| Corporate Headquarters | 3,925 |   | 7/31/2017 |
|                   | 1776 Peachtree Street, Suite 300S |   |   |   |
|                   | Atlanta, GA 30309 |   |   |   |
|                   |   |   |   |   |
| DLH Solutions, Inc.    |   |   |   |
|                   | 3525 Highway 81 South | 6,200 |   | 5/31/2015 |
|                   | Loganville, GA 30052 |   |   |   |

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|                  |
|------------------|
|                  |  |  |  |  |  |  |  |  |
| FISCAL YEAR 2014 |   | LOW |   | HIGH |
| 1st Quarter |   | $ | 1.02 |  |   | $ | 1.74 |  |
| 2nd Quarter |   | $ | 1.44 |  |   | $ | 3.50 |  |
| 3rd Quarter |   | $ | 1.28 |  |   | $ | 2.48 |  |
| 4th Quarter |   | $ | 1.74 |  |   | $ | 2.10 |  |

|                  |
|------------------|
|                  |  |  |  |  |  |  |  |  |
| FISCAL YEAR 2013 |   | LOW |   | HIGH |
| 1st Quarter |   | $ | 0.54 |  |   | $ | 1.21 |  |
| 2nd Quarter |   | $ | 0.65 |  |   | $ | 1.45 |  |
| 3rd Quarter |   | $ | 0.69 |  |   | $ | 0.97 |  |
| 4th Quarter |   | $ | 0.56 |  |   | $ | 1.65 |  |

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|                                                         |
|---------------------------------------------------------|
|                                                         |  |  |  |  |  |  |  |  |  |  |  |
| Equity Compensation Plan Information(*)                 |
| Plan Category                                           | (a)Number of Securitiesto be issuedupon exercise ofoutstanding options,warrants and rights |   |   |   | (b)Weighted Averageexercise price ofoutstanding options,warrants and rights(or fair value atdate of grant) |   | (c)Number of securitiesremaining available forfuture issuances underequity compensationplans (excluding securitiesreflected in column (a)) |
| Equity Compensation Plans Approved by Security Holders: |   |  |   |   |   |   |  |   |   |  |
| 2006 Long Term Incentive Plan                           | 2,379,500 |  |   |   |   | $ | 1.40 |  |   | 930,347 |  |
| Equity Compensation Plans Not Approved by Stockholders  | 20,000 |  |   | (1) |   | $ | 2.28 |  |   | — |  |

|     |                                                                       |
|-----|-----------------------------------------------------------------------|
| (1) | Consists of warrants to purchase common stock issued to a consultant. |

|                      |
|----------------------|
|                      |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                 |   |   |   |   |   |   |   |   |   |   | ($ in thousands) |
| Period               |   | Total Numberof SharesPurchased |   | Average PricePaid Per Share |   | Total Number ofShares Purchased As Part of PubliclyAnnounced Programs |   | Dollar Value of Shares that May Yet Be Purchased Under the Plan or Program |
| First Quarter Total  |   | 17,275 |  |   | $ | 1.20 |  |   |   | 17,275 |  |   |   |   | $ | 329 |  |   |
| Second Quarter Total |   | — |  |   | $ | — |  |   |   | — |  |   |   |   | $ | 329 |  |   |
| Third Quarter Total  |   | 5,600 |  |   | $ | 1.76 |  |   |   | 5,600 |  |   |   |   | $ | 319 |  |   |
| July 2014            |   | 8,700 |  |   | $ | 1.91 |  |   |   | 8,700 |  |   |   |   | $ | 303 |  |   |
| August 2014          |   | 12,877 |  |   | $ | 1.95 |  |   |   | 12,877 |  |   |   |   | $ | 278 |  |   |
| September 2014       |   | 9,450 |  |   | $ | 1.95 |  |   |   | 9,450 |  |   |   |   | $ | 259 |  |   |
| Fourth Quarter Total |   | 31,027 |  |   | $ | 1.94 |  |   |   | 31,027 |  |   |   |   | $ | 259 |  |   |

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|         |                                                                                                                                                                                                                                                                                                                                                                                                               |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | differentiate DLH offerings by delivering professional, technical, logistical, and consulting services that enable customers to achieve business value through the use of best-in-class processes. Specifically, we use SPOT-m™, DLH’s unique approach to integration of people, processes, and technology tools to measure, manage and optimize our performance at project or enterprise levels; |

|         |                                                                                                                                                                                                                                                                                                                 |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | continue expansion through organic growth as a prime contractor by delivering quality services and cost effective solutions to our customers.  Organic growth has contributed to a 23% increase in revenue over the past three years, from $49.2 million for fiscal year 2012 to $60.5 million for fiscal 2014; |

|         |                                                                                                                                                                                                                                                             |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | selectively review and position ourselves for potential strategic acquisitions or other business arrangements such as subcontracting and joint ventures, in an effort to expand the number of opportunities available and increase our market coverage; and |

|         |                                                                                                                                                                      |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | continue to seek opportunities to increase our sales volume by adding to our business development leadership team, strategic advisers, and health industry resources |

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|                                   |
|-----------------------------------|
|                                   |  |  |  |  |
|                              |   | Fiscal Year Ended |   | Fiscal Year Ended |
| Revenue Stream                    |   | September 30, 2014 |   | September 30, 2013 |
| Healthcare Delivery Solutions     |   | 52% |   | 54% |
| Logistics &Technical Services |   | 48% |   | 46% |

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|         |                                                                                                                                                                                                                                                             |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | federal government budget deficits and the growing U.S. national debt increasing pressure on the U.S. government to reduce federal spending across all federal agencies together with associated uncertainty about the size and timing of those reductions; |

|         |                                                                                                                                                                                                                                                                                                  |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | cost cutting and efficiency initiatives, current and future budget reductions, continued implementation of Congressionally mandated automatic spending cuts, and other efforts to reduce U.S. government spending, which could cause clients to reduce or delay funding for orders for services; |

|         |                                                                                                                                                                  |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | shift to greater use of lowest priced technically acceptable contracting award approaches by governmental agencies resulting in greater pressure on margins; and |

|         |                                                                                                                                                                                                                                                                                                                              |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | changes in the relative mix of overall U.S. government spending and areas of spending growth, with lower spending on homeland security, intelligence and defense-related programs as overseas operations end, and continued increased spending on cyber-security, advanced analytics, technology integration and healthcare. |

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|                                                                     |
|---------------------------------------------------------------------|
|                                                                     |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                |  | Year Ended |   |   |   |   |
| Condensed Consolidated Statement of Operations: |  | September 30, 2014 |   | September 30, 2013 |   | Change (lower) |
| Revenues                                                            |  | $ | 60,493 |  |   | 100.0 | % |   | $ | 53,506 |  |   | 100.0 |  % |   | $ | 6,987 |  |   | — |  % |
| Direct expenses                                                     |  | 51,534 |  |   | 85.2 | % |   | 46,007 |  |   | 86.0 |  % |   | 5,527 |  |   | (0.8 | )% |
| Gross margin                                                        |  | 8,959 |  |   | 14.8 | % |   | 7,499 |  |   | 14.0 |  % |   | 1,460 |  |   | 0.8 |  % |
| General and administrative expenses                                 |  | 8,089 |  |   | 13.4 | % |   | 7,130 |  |   | 13.3 |  % |   | 959 |  |   | 0.1 |  % |
| Depreciation and amortization                                       |  | 106 |  |   | 0.2 | % |   | 121 |  |   | 0.2 |  % |   | (15 | ) |   | — |  % |
| Income from operations                                              |  | 764 |  |   | 1.2 | % |   | 248 |  |   | 0.5 |  % |   | 516 |  |   | 0.7 |  % |
| Other income (expense), net                                         |  | (4 | ) |   | — | % |   | (407 | ) |   | (0.8 | )% |   | 403 |  |   | 0.8 |  % |
| Income (loss) before income taxes                                   |  | 760 |  |   | 1.2 | % |   | (159 | ) |   | (0.3 | )% |   | 919 |  |   | 1.5 |  % |
| (Benefit) provision for income taxes                                |   | (4,597 | ) |   |   |   | — |  |   |   |   | (4,597 | ) |   |   |
| Net Income (loss)                                                   |   | $ | 5,357 |  |   |   |   | $ | (159 | ) |   |   |   | $ | 5,516 |  |   |   |
|                                                                |   |   |   |   |   |   |   |   |   |   |   |   |
| Income (loss) before taxes per share - basic                        |   | $ | 0.08 |  |   |   |   | $ | (0.02 | ) |   |   |   | $ | 0.10 |  |   |   |
| Income (loss) before taxes per share - diluted                      |   | $ | 0.08 |  |   |   |   | $ | (0.02 | ) |   |   |   | $ | 0.10 |  |   |   |
|                                                                |   |   |   |   |   |   |   |   |   |   |   |   |
| Net Income (loss) per share - basic                                 |   | $ | 0.56 |  |   |   |   | $ | (0.02 | ) |   |   |   | $ | 0.58 |  |   |   |
| Net Income (loss) per share - diluted                               |   | $ | 0.54 |  |   |   |   | $ | (0.02 | ) |   |   |   | $ | 0.56 |  |   |   |

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|                                                  |
|--------------------------------------------------|
|                                                  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                             |   | Year Ended |
|                                                  |  | September 30, |
|                                             |  | 2014 |   | 2013 |   | Change |
| Net income (loss)                                |  | $ | 5,357 |  |   | $ | (159 | ) |   | $ | 5,516 |  |
| (i) Interest and other expenses, net        |  | 4 |  |   | 407 |  |   | (403 | ) |
| (ii) (Benefit) provision for income taxes        |  | (4,597 | ) |   | — |  |   | (4,597 | ) |
| (iii) Depreciation and amortization         |  | 106 |  |   | 121 |  |   | (15 | ) |
| (iv) G&A expenses — equity grants |  | 472 |  |   | 206 |  |   | 266 |  |
| EBITDA adjusted for other non-cash charges       |  | $ | 1,342 |  |   | $ | 575 |  |   | $ | 767 |  |

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|                                                            |
|------------------------------------------------------------|
|                                                            |  |  |  |
|                                                       |   |   | Year Ended |
|                                                       | Ref |   | 09/30/14 |
| Cash and cash equivalents                                  | (a) |   | $3.9 |
| Borrowing on line of credit                                | (b) |   | $0.0 |
| Line of credit availability                                | (c) |   | $2.5 |
| Adjusted EBITDA                                            | (d) |   | $1.3 |
| Cash flows from operating activities                       | (e) |   | $1.7 |
| Cash flows used in financing activities                    | (f) |   | $(1.2) |
| Working capital (current assets minus current liabilities) | (g) |   | $0.7 |

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|         |                                                                                     |
|---------|-------------------------------------------------------------------------------------|
| • | Interest rate for loans on billed accounts receivable was reduced to 4.0% from 5.2% |

|         |                                                                                       |
|---------|---------------------------------------------------------------------------------------|
| • | Interest rate for loans on unbilled accounts receivable was reduced to 4.0% from 7.2% |

|         |                                                                                                                                                                   |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Monthly service charge was reduced to 0.3% from 0.65% of the average daily outstanding balance during the month so long as the Loan Agreement is outstanding; and |

|         |                                                                                         |
|---------|-----------------------------------------------------------------------------------------|
| • | Monthly collateral monitoring fee was reduced to $2,500 per month from $5,000 per month |

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|                                  |
|----------------------------------|
|                                  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                             |   |   |   | Payments Due By Period |
| Obligations                      |   |   |   | Less than |   | 1-3 |   | 4-5 |
| (Amounts in thousands) |   | Total |   | 1 Year |   | Years |   | Years |
| Loan Payable (1)                 |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |
| Operating Leases                 |   | 303 |  |   | 143 |  |   | 160 |  |   | — |  |
| Total Obligations                |   | $ | 303 |  |   | $ | 143 |  |   | $ | 160 |  |   | $ | — |  |

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|     |                                     |
|-----|-------------------------------------|
| (a) | (1)  Financial Statements |

|     |                                             |
|-----|---------------------------------------------|
| (a) | (2)  Financial Statement Schedule |

|     |                         |
|-----|-------------------------|
| (a) | (3)  Exhibits |

|             |
|-------------|
|             |  |  |  |
| Exhibit No. |   | Description |
| 3.1         |  |   | Amended and Restated Certificate of Incorporation (filed as Exhibit A to Definitive Proxy Statement dated May 1, 2000 as filed with the Securities and Exchange Commission). |
| 3.2         |  |   | Amended By-Laws of Registrant adopted as of May 15, 2001 (filed as Exhibit 3.4 to the Registration Statement on Form S-4 File No. 333-61730). |
| 3.3         |  |   | Amended and restated By-Laws of Registrant adopted as of August 29, 2001 (filed as Exhibit 3.5 to the Registrant's Form S-3 filed on December 27, 2001). |
| 3.4         |  |   | Amendment to By-Laws of Registrant adopted November 8, 2007 (filed as Exhibit 3.1 to the Registrant's Current Report on Form 8-K filed on November 13, 2007). |
| 3.5         |  |   | Amendment to Amended and Restated Certificate of Incorporation of the Company (filed as Exhibit B to Definitive Proxy Statement dated March 13, 2008 as filed with the Securities and Exchange Commission). |
| 3.6         |  |   | Amendment to Amended and Restated Certificate of Incorporation of the Company filed June 25, 2012 (filed as Exhibit 3.1 to Current Report on Form 8-K filed on June 26, 2012). |
| 4.1         |  |   | Convertible Debenture issued to Wynnefield Small Cap Value, LP I (filed as Exhibit 4.1 to Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2011). |
| 4.2         |  |   | Convertible Debenture issued to Wynnefield Small Cap Value, LP (filed as Exhibit 4.2 to Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2011). |
| 4.3         |  |   | Common Stock Purchase Warrant issued to Wynnefield Small Cap Value, LP I (filed as Exhibit 4.3 to Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2011). |
| 4.4         |  |   | Common Stock Purchase Warrant issued to Wynnefield Small Cap Value, LP (filed as Exhibit 4.4 to Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2011). |
| 4.5         |  |   | Form of Warrant Issued in October 2011 (filed as Exhibit 4.1 to Quarterly Report on Form 10-Q for the fiscal quarter ended December 31, 2011). |
| 4.6         |  |   | Form of Subscription Rights Certificate (filed as Exhibit 4.5 to Registration Statement on Form S-1/A filed on April 26, 2012). |
| 4.7         |  |   | Form of Subscription Agent Agreement by and between Teamstaff, Inc. and Continental Stock Transfer & Trust Company (filed as Exhibit 4.6 to Registration Statement on Form S-1 filed on March 16, 2012). |
| 10.1        |  |   | Form of Stock Purchase Agreement among TeamStaff, Inc. and the Shareholders of RS Staffing Services, Inc. dated as of May 26, 2005 (filed as Exhibit 10.1 to Form 8-K dated June 8, 2005). |
| 10.2        |  | # | Form Notice of Restricted Stock Bonus Award and Restricted Stock Agreement (filed as Exhibit 10.2 to the Form 10-Q filed on May 15, 2006). |
| 10.3        |  | # | Form of Director Stock Option Agreement for options granted September 1, 2006. (filed as Exhibit 10.26 to the Company's Form 10-K filed on December 21, 2006). |
| 10.4        |  | # | Employment Agreement between the Company and Zachary C. Parker, dated February 9, 2010 (filed as Exhibit 10.1 to Current Report on Form 8-K filed on February 11, 2010). |
| 10.5        |  | # | Form of Stock Option Award under 2006 Long Term Incentive Plan (filed as Exhibit 10.6 to Quarterly Report on Form 10-Q filed on February 16, 2010). |
| 10.6        |  | † | Loan and Security Agreement, dated as of July 29, 2010, between Teamstaff Government Solutions, Inc. and Presidential Financial Corporation (filed as Exhibit 10.1 to Quarterly Report on Form 10-Q filed on August 16, 2010). |

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|       |
|-------|
|       |  |  |  |
| 10.7  |  |   | Secured Promissory Note, dated July 29, 2010, executed by TeamStaff Government Solutions, Inc.(filed as Exhibit 10.2 to Quarterly Report on Form 10-Q filed on August 16, 2010). |
| 10.8  |  |   | Corporate Guaranty Agreement, dated July 29, 2010, executed by TeamStaff, Inc. (filed as Exhibit 10.3 to Quarterly Report on Form 10-Q filed on August 16, 2010). |
| 10.9  |  |   | Amendment to Secured Promissory Note and Loan and Security Agreement with Presidential Financial Corporation (filed as Exhibit 10.1 to Current Report on Form 8-K, filed on August 27, 2010). |
| 10.10 |  |   | Second Amendment to Secured Promissory Note and Loan and Security Agreement with Presidential Financial Corporation (filed as Exhibit 10.1 to Current Report on Form 8-K, filed on November 30, 2010). |
| 10.11 |  |   | Third Amendment to Secured Promissory Note and Loan and Security Agreement with Presidential Financial Corporation, dated February 9, 2011 (filed as Exhibit 10.35 to Annual Report on Form 10-K for the fiscal year ended September 30, 2010). |
| 10.12 |  |   | Form of Subscription Agreement (filed as Exhibit 10.3 to Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2011). |
| 10.13 |  |   | Form of Subscription Agreement (filed as Exhibit 10.4 to Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2011). |
| 10.14 |  | # | 2006 Long Term Incentive Plan, as amended (filed as Exhibit A to the Proxy Statement dated July 18, 2011) with respect to the Annual Meeting of Shareholders held on August 18, 2011). |
| 10.15 |  |   | Debenture Purchase Agreement dated as of June 1, 2011 (filed as Exhibit 10.1 to Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2011). |
| 10.16 |  |   | Amendment to Employment Agreement between the Company and Zachary C. Parker (filed as Exhibit 10.2 to Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2011). |
| 10.17 |  |   | Creditor Subordination Agreement by TeamStaff Government Solutions, Inc., TeamStaff, Inc., Presidential Financial Corporation and Wynnefield Partners SmallCap Value LP (filed as Exhibit 10.5 to Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2011). |
| 10.18 |  |   | Creditor Subordination Agreement by TeamStaff Government Solutions, Inc., TeamStaff, Inc., Presidential Financial Corporation and Wynnefield Partners SmallCap Value LP I (filed as Exhibit 10.6 to Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2011). |
| 10.19 |  |   | Fourth Amendment to Secured Promissory Note and Loan and Security Agreement with Presidential Financial Corporation dated November 30, 2011 (filed as Exhibit 10.44 to Annual Report on Form 10-K for the fiscal year ended September 30, 2011). |
| 10.20 |  |   | Standby Purchase Agreement dated May 2, 2012 (filed as Exhibit 10.1 to Current Report on Form 8-K filed May 3, 2012). |
| 10.21 |  |   | Form of Registration Rights Agreement, dated May 2, 2012 (filed as Exhibit 10.2 to Current Report on Form 8-K filed May 3, 2012). |
| 10.22 |  |   | Amendment to Secured Promissory Note and Loan Agreement dated as of May 18, 2012 (filed as Exhibit 10.1 to Current Report on Form 8-K filed May 24, 2012). |
| 10.23 |  | # | Employment Agreement with Kathryn M. JohnBull (filed as Exhibit 10.1 to Current Report on Form 8-K filed June 29, 2012). |
| 10.24 |  | # | Amendment to Employment Agreement with Zachary C. Parker (filed as Exhibit 10.1 to Current Report on Form 8-K filed November 12, 2012). |
| 10.25 |  | # | Employment Agreement between the Company and Kevin Wilson (filed as Exhibit 10.1 to Current Report on Form 8-K dated October 3, 2013). |
| 10.26 |  | # | Employment Agreement between the Company and John F. Armstrong (filed as Exhibit 10.1 to Current Report on Form 8-K filed on December 4, 2013). |
| 10.27 |  | # | 2006 Long Term Incentive Plan, as amended (filed as Annex A to the Company’s Proxy Statement dated January 3, 2014) |
| 10.28 |  |   | Sixth Amendment to Secured Promissory Note and Loan Agreement (filed as Exhibit 10.1 to Current Report on Form 8-K filed April 2, 2014). |
| 10.29 |  | # | Amendment to Employment Agreement with Kathryn M. JohnBull (filed as Exhibit 10.1 to Current Report on Form 8-K filed September 24, 2014). |
| 14.00 |  |   | Code of Ethics (Exhibit 14.1 to Annual Report on Form 10-K for the fiscal year ended September 30, 2003). |

----

|       |
|-------|
|       |  |  |  |
| 21.00 |  | * | Subsidiaries of Registrants. |
| 23.10 |  | * | Consent of WithumSmith+Brown, PC |
| 31.10 |  | * | Certification of Chief Executive Officer pursuant to Section 17 CFR 240.13a-14(a) or 17 CFR 240.15d-14(a). |
| 31.20 |  | * | Certification of Chief Financial Officer pursuant to Section 17 CFR 240.13a-14(a) or 17 CFR 240.15d-14(a). |
| 32.10 |  | * | Certification of Chief Executive Officer and Chief Financial Officer pursuant to 17 CFR 240.13a-14(b) or 17 CFR 240.15d-14(b) and Section 1350 of Chapter 63 of Title 18 of the United States Code. |
| 101.0 |  |   | The following financial information from the DLH Holdings Corp. Annual Report on Form 10-K for the fiscal year ended September 30, 2014, formatted in XBRL (eXtensible Business Reporting Language) and filed electronically herewith: (i) the Consolidated Balance Sheets; (ii) the Consolidated Statements of Operations; (iii) the Consolidated Statements of Cash Flows; (iv) the Consolidated Statements Of Shareholders' Equity and, (v) the Notes to the Consolidated Financial Statements. |

|         |                                                                                                                                                                                                                                                                    |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| † | Portions of this exhibit were omitted and filed separately with the Secretary of the Commission pursuant to an application for confidential treatment filed with the Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended. |

----

|        |
|--------|
|        |  |  |  |  |
|   |   |   |   |   |
|   |   | DLH HOLDINGS CORP. |
|   |   |   |   | /s/ ZACHARY C. PARKER |
|   |   | By: |   | Zachary C. Parker Chief Executive Officer(Principal Executive Officer) |

|                                 |
|---------------------------------|
|                                 |  |  |
| Signature                       | Capacity | Date |
|                            |   |   |
| /s/ FREDERICK G. WASSERMAN | Chairman of the Board | December 10, 2014 |
| Frederick G. Wasserman          |   |   |
|                            |   |   |
| /s/ T. STEPHEN JOHNSON     | Director | December 10, 2014 |
| T. Stephen Johnson              |   |   |
|                            |   |   |
| /s/ MARTIN J. DELANEY      | Director | December 10, 2014 |
| Martin J. Delaney               |   |   |
|                            |   |   |
| /s/ WILLIAM H. ALDERMAN    | Director | December 10, 2014 |
| William H. Alderman             |   |   |
|                            |   |   |
| /s/ AUSTIN J. YERKS III    | Director | December 10, 2014 |
| Austin J. Yerks III             |   |   |
|                            |   |   |
| /s/ ELDER GRANGER          | Director | December 10, 2014 |
| Elder Granger                   |   |   |
|                            |   |   |
| /s/ ZACHARY C. PARKER      | Chief Executive Officer, President and Director | December 10, 2014 |
| Zachary C. Parker               |   |   |
|                            |   |   |
| /s/ KATHRYN M. JOHNBULL    | Chief Financial Officer and Principal Accounting Officer | December 10, 2014 |
| Kathryn M. JohnBull             |   |   |

----

|                                                                                                      |
|------------------------------------------------------------------------------------------------------|
|                                                                                                      |  |  |
|                                                                                                 | Page |
| Report of Independent Registered Public Accounting Firm                                              |   | F-2 |
| Consolidated Statements of Operations for the years ended September 30, 2014 and 2013           |   | F-3 |
| Consolidated Balance Sheets as of September 30, 2014 and 2013                                   |   | F-4 |
| Consolidated Statements of Cash Flows for the years ended September 30, 2014 and 2013           |   | F-5 |
| Consolidated Statements of Shareholders' Equity for the years ended September 30, 2014 and 2013 |   | F-6 |
| Notes to Consolidated Financial Statements                                                           |   | F-7 |

----

----

|                                                 |
|-------------------------------------------------|
|                                                 |  |  |  |  |  |  |  |  |
|                                                 |  | Year Ended |
|                                            |  | September 30, |
|                                            |  | 2014 |   | 2013 |
| Revenue                                         |  | $ | 60,493 |  |   | $ | 53,506 |  |
| Direct expenses                                 |  | 51,534 |  |   | 46,007 |  |
| Gross margin                                    |  | 8,959 |  |   | 7,499 |  |
| General and administrative expenses             |  | 8,089 |  |   | 7,130 |  |
| Depreciation and amortization                   |  | 106 |  |   | 121 |  |
| Income from operations                          |  | 764 |  |   | 248 |  |
| Other expense, net                              |   | (4 | ) |   | (407 | ) |
| Income (loss) before income taxes               |  | 760 |  |   | (159 | ) |
| (Benefit) provision for income taxes            |  | (4,597 | ) |   | — |  |
| Net income (loss)                               |  | $ | 5,357 |  |   | $ | (159 | ) |
|                                                 |  |   |   |   |
| Income (loss) before income taxes per share     |   |   |   |   |
| Basic                                           |   | $ | 0.08 |  |   | $ | (0.02 | ) |
| Diluted                                         |   | $ | 0.08 |  |   | $ | (0.02 | ) |
|                                            |   |   |   |   |
| Net income (loss) before income taxes per share |   |   |   |   |
| Basic                                           |  | $ | 0.56 |  |   | $ | (0.02 | ) |
| Diluted                                         |   | $ | 0.54 |  |   | $ | (0.02 | ) |
|                                            |   |   |   |   |
| Weighted average common shares outstanding      |   |   |   |   |
| Basic                                           |  | 9,570 |  |   | 9,310 |  |
| Diluted                                         |  | 9,839 |  |   | 9,310 |  |

----

|                                                                                                                                                                                                                |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                |  |  |  |  |  |  |  |  |
|                                                                                                                                                                                                                |  |   |  |  |
|                                                                                                                                                                                                                |  | September 30, 2014 |  | September 30, 2013 |
| ASSETS                                                                                                                                                                                                         |  |   |  |   |  |
| Current assets:                                                                                                                                                                                                |  |   |  |   |  |
| Cash and cash equivalents                                                                                                                                                                                      |  | $ | 3,908 |  |  | $ | 3,408 |  |
| Accounts receivable, net                                                                                                                                                                                       |  | 12,372 |  |  | 11,943 |  |
| Deferred taxes, net                                                                                                                                                                                            |   | 84 |  |   | — |  |
| Other current assets                                                                                                                                                                                           |  | 510 |  |  | 599 |  |
| Total current assets                                                                                                                                                                                           |  | 16,874 |  |  | 15,950 |  |
| Equipment and improvements, net                                                                                                                                                                                |  | 63 |  |   | 156 |  |
| Deferred taxes, net                                                                                                                                                                                            |   | 4,513 |  |   | — |  |
| Goodwill                                                                                                                                                                                                       |  | 8,595 |  |  | 8,595 |  |
| Other long-term assets                                                                                                                                                                                         |  | 27 |  |  | 1,057 |  |
| Total assets                                                                                                                                                                                                   |  | $ | 30,072 |  |  | $ | 25,758 |  |
| LIABILITIES AND SHAREHOLDERS’ EQUITY                                                                                                                                                                     |   |   |   |   |  |
| Current liabilities:                                                                                                                                                                                           |   |   |   |   |  |
| Debt obligations                                                                                                                                                                                               |   | $ | — |  |   | $ | 1,313 |  |
| Derivative financial instruments, at fair value                                                                                                                                                                |   | — |  |   | 160 |  |
| Accrued payroll                                                                                                                                                                                                |   | 11,465 |  |   | 11,138 |  |
| Accounts payable, accrued expenses, and other current liabilities                                                                                                                                              |   | 4,746 |  |   | 5,343 |  |
| Total current liabilities                                                                                                                                                                                      |   | 16,211 |  |   | 17,954 |  |
| Other long term liabilities                                                                                                                                                                                    |   | 15 |  |   | 20 |  |
| Total liabilities                                                                                                                                                                                              |   | 16,226 |  |   | 17,974 |  |
| Commitments and contingencies                                                                                                                                                                                  |   |  |  |   |  |  |
| Shareholders' equity:                                                                                                                                                                                          |   |   |   |  |  |
| Preferred stock, $.10 par value; authorized 5,000 shares, none issued and outstanding                                                                                                                          |   | — |  |   | — |  |
| Common stock, $.001 par value; authorized 40,000 shares; issued 9,568 at September 30, 2014 and 9,320 at September 30, 2013, outstanding 9,566 at September 30, 2014 and 9,318 at September 30, 2013 |   | 10 |  |   | 9 |  |
| Additional paid-in capital                                                                                                                                                                                     |   | 76,083 |  |   | 75,400 |  |
| Accumulated deficit                                                                                                                                                                                            |   | (62,244 | ) |   | (67,601 | ) |
| Treasury stock, 2 shares at cost at September 30, 2014 and 2 shares at cost at September 30, 2013                                                                                                         |   | (3 | ) |   | (24 | ) |
| Total shareholders’ equity                                                                                                                                                                               |   | 13,846 |  |   | 7,784 |  |
| Total liabilities and shareholders' equity                                                                                                                                                                     |   | $ | 30,072 |  |   | $ | 25,758 |  |

----

|                                                                                          |
|------------------------------------------------------------------------------------------|
|                                                                                          |  |  |  |  |  |  |  |  |
|                                                                                     |   |   |
|                                                                                     |   | Year Ended |
|                                                                                     |   | September 30, |
|                                                                                     |   | 2014 |   | 2013 |
| Operating activities                                                                     |   |   |   |   |
| Net income (loss)                                                                        |   | $ | 5,357 |  |   | $ | (159 | ) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: |   |   |   |   |
| Depreciation and amortization including financing costs                                  |   | 116 |  |   | 299 |  |
| Change in fair value of derivative financial instruments                                 |   | (99 | ) |   | 41 |  |
| Non-cash equity grants                                                                   |   | 472 |  |   | 206 |  |
| Deferred taxes, net                                                                      |   | (4,597 | ) |   |   |
| Changes in operating assets and liabilities                                              |   |   |   |   |
| Accounts receivable                                                                      |   | (429 | ) |   | 1,085 |  |
| Prepaid workers' compensation and other current assets                                   |   | 89 |  |   | 51 |  |
| Other assets                                                                             |   | 1,030 |  |   | (303 | ) |
| Accounts payable, accrued payroll, accrued expenses and other current liabilities        |   | (269 | ) |   | 628 |  |
| Other long term liabilities                                                              |   | (5 | ) |   | (43 | ) |
| Net cash provided by operating activities                                                |   | 1,665 |  |   | 1,805 |  |
|                                                                                     |   |   |   |   |
| Investing activities                                                                     |   |   |   |   |
| Purchase of equipment and improvements                                                   |   | (13 | ) |   | (9 | ) |
| Net cash used in investing activities                                                    |   | (13 | ) |   | (9 | ) |
|                                                                                     |   |   |   |   |
| Financing activities                                                                     |   |   |   |   |
| Net repayments on bank loan payable                                                      |   | (951 | ) |   | (1,412 | ) |
| Rights offering expenses                                                                 |   | — |  |   | (14 | ) |
| Repayments of capital lease obligations                                                  |   | (22 | ) |   | (51 | ) |
| Net repayment on convertible debentures                                                  |   | (140 | ) |   | — |  |
| Proceeds from exercise of warrants                                                       |   | 52 |  |   | — |  |
| Repurchased shares of common stock held as treasury stock                                |   | 21 |  |   | — |  |
| Repurchased shares of common stock subsequently canceled                                 |   | (112 | ) |   | — |  |
| Net cash used in financing activities                                                    |   | (1,152 | ) |   | (1,477 | ) |
|                                                                                     |   |   |   |   |
| Net increase in cash and cash equivalents                                                |   | 500 |  |   | 319 |  |
| Cash and cash equivalents at beginning of period                                         |   | 3,408 |  |   | 3,089 |  |
| Cash and cash equivalents at end of period                                               |   | $ | 3,908 |  |   | $ | 3,408 |  |
|                                                                                     |   |   |   |   |
| Supplemental disclosures of cash flow information                                        |   |   |   |   |
| Cash paid during the period for interest                                                 |   | $ | 124 |  |   | $ | 94 |  |
| Cash paid during the period for income taxes                                             |   | $ | — |  |   | $ | — |  |
| Non-cash settlement of warrants                                                          |   | $ | 62 |  |   | $ | — |  |

----

|                                                 |
|-------------------------------------------------|
|                                                 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                            |   | Common Stock |   |   |   |   |   | Treasury Stock |   |   |
|                                            |   | AdditionalPaid-InCapital |   | AccumulatedDeficit |   |   |
|                                            |   | Shares |   | Amount |   | Shares |   | Amount |   | Total Shareholders' Equity |
| BALANCE, September 30, 2012                |   | 9,266 |  |   | $ | 9 |  |   | $ | 75,207 |  |   | $ | (67,442 | ) |   | 2 |  |   | $ | (24 | ) |   | $ | 7,750 |  |
| Director restricted stock grants                |   | 52 |  |   |   |  |   | 54 |  |   |   |  |   |   |  |   |   |  |   | 54 |  |
| Issuance of shares for services                 |   |   |  |   |   |  |   | 12 |  |   |   |  |   |   |  |   |   |  |   | 12 |  |
| Expense related to employee stock option grants |   |   |  |   |   |  |   | 140 |  |   |   |  |   |   |  |   |   |  |   | 140 |  |
| Fees related to rights offering                 |   |   |  |   |   |  |   | (13 | ) |   |   |  |   |   |  |   |   |  |   | (13 | ) |
| Net loss                                        |   |   |  |   |   |  |   |   |  |   | (159 | ) |   |   |  |   |   |  |   | (159 | ) |
| BALANCE, September 30, 2013                |   | 9,318 |  |   | $ | 9 |  |   | $ | 75,400 |  |   | $ | (67,601 | ) |   | 2 |  |   | $ | (24 | ) |   | $ | 7,784 |  |
| Director restricted stock grants                |   | 80 |  |   |   |  |   | 109 |  |   |   |  |   |   |  |   |   |  |   | 109 |  |
| Expense related to employee stock option grants |   |   |  |   |   |  |   | 363 |  |   |   |  |   |   |  |   |   |  |   | 363 |  |
| Exercise of convertible debentures              |   | 168 |  |   | 1 |  |   | 209 |  |   |   |  |   |   |  |   |   |  |   | 210 |  |
| Exercise of warrants                            |   | 54 |  |   |   |  |   | 114 |  |   |   |  |   |   |  |   |   |  |   | 114 |  |
| Cancellations of shares                         |   | (52 | ) |   |   |   | (112 | ) |   |   |   | (2) |  |   | 24 |  |   | (88 | ) |
| Purchase of common stock                        |   | (2 | ) |   |   |  |   |   |   |   |  |   | 2 |  |   | (3 | ) |   | (3 | ) |
| Net income                                      |   |   |  |   |   |  |   |   |  |   | 5,357 |  |   |   |  |   |   |  |   | 5,357 |  |
| BALANCE, September 30, 2014                |   | 9,566 |  |  | $ | 10 |  |  | $ | 76,083 |  |  | $ | (62,244 | ) |  | 2 |  |   | $ | (3 | ) |   | $ | 13,846 |  |
|                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

----

|                                        |
|----------------------------------------|
|                                        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                   |   |   |   |   |   | (in thousands) |   |
|                                   |   |   |   |   | September 30, |   | September 30, |
|                                   |   |   | Ref |   |   | 2014 |   |   |   | 2013 |   |
| Billed receivables                     |   |   |   |   |   | $ | 2,569 |  |   |   |   | $ | 2,408 |  |   |
| Unbilled receivables                   |   |   | (a) |   |   | 9,803 |  |   |   |   | 9,535 |  |   |
| Total accounts receivable              |   |   |   |   |   | 12,372 |  |   |   |   | 11,943 |  |   |
| Less:  Allowance for doubtful accounts |   |   | (b) |   |   | — |  |   |   |   | — |  |   |
| Accounts receivable, net               |   |   |   |   |   | $ | 12,372 |  |   |   |   | $ | 11,943 |  |   |

|                                  |
|----------------------------------|
|                                  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                             |   |   |   |   |   | (in thousands) |   |
|                             |   |   |   |   | September 30, |   | September 30, |
|                             |   |   | Ref |   |   | 2014 |   |   |   | 2013 |   |
| Workers' compensation receivable |   |   | (a) |   |   | $ | 199 |  |   |   |   | $ | 358 |  |   |
| Prepaid insurance expense        |   |   |   |   |   | 176 |  |   |   |   | 143 |  |   |
| Other prepaid expenses           |   |   |   |   |   | 135 |  |   |   |   | 98 |  |   |
| Total other current assets       |   |   |   |   |   | $ | 510 |  |   |   |   | $ | 599 |  |   |

----

|                                             |
|---------------------------------------------|
|                                             |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                        |   |   |   |   |   | (in thousands) |   |
|                                        |   |   |   |   | September 30, |   | September 30, |
|                                        |   |   | Ref |   |   | 2014 |   |   |   | 2013 |   |
| Bank loan payable                           |   |   |   |   |   | $ | — |  |   |   |   | $ | 951 |  |   |
| Current portion of capital lease obligation |   |   |   |   |   | — |  |   |   |   | 22 |  |   |
| Convertible debenture, net                  |   |   | (a) |   |   | — |  |   |   |   | 340 |  |   |
| Total debt obligations                      |   |   |   |   |   | $ | — |  |   |   |   | $ | 1,313 |  |   |

|                                                         |
|---------------------------------------------------------|
|                                                         |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                    |   |   |   |   |   | (in thousands) |   |
|                                                    |   |   |   |   | September 30, |   | September 30, |
|                                                    |   |   | Ref |   |   | 2014 |   |   |   | 2013 |   |
| Accrued current payroll                                 |   |   |   |   |   | $ | 2,440 |  |   |   |   | $ | 2,302 |  |   |
| Accrued payroll related to unbilled accounts receivable |   |   |   |   | 9,025 |  |   |   |   | 8,836 |  |   |
| Total accrued payroll                                   |   |   |   |   |   | $ | 11,465 |  |   |   |   | $ | 11,138 |  |   |

|                                                |
|------------------------------------------------|
|                                                |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                           |   |   |   |   |   | (in thousands) |   |
|                                           |   |   |   |   | September 30, |   | September 30, |
|                                           |   |   | Ref |   |   | 2014 |   |   |   | 2013 |   |
| Furniture and equipment                        |   |   |   |   |   | $ | 139 |  |   |   |   | $ | 139 |  |   |
| Computer equipment                             |   |   |   |   |   | 126 |  |   |   |   | 126 |  |   |
| Computer software                              |   |   |   |   |   | 430 |  |   |   |   | 417 |  |   |
| Leasehold improvements                         |   |   |   |   |   | 24 |  |   |   |   | 24 |  |   |
|                                           |   |   |   |   |   | 719 |  |   |   |   | 706 |  |   |
| Less accumulated depreciation and amortization |   |   |   | (656 | ) |   |   |   | (550 | ) |   |
| Equipment and improvements, net                |   |   | (a) |   |   | $ | 63 |  |   |   |   | $ | 156 |  |   |

|                                                      |
|------------------------------------------------------|
|                                                      |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                 |   |   |   |   |   | (in thousands) |   |
|                                                 |   |   |   |   | September 30, |   | September 30, |
|                                                 | Ref |   |   | 2014 |   |   |   | 2013 |   |
| Accounts payable                                     |   |   |   |   |   | $ | 779 |  |   |   |   | $ | 1,396 |  |   |
| Accrued benefits                                     |   |   |   |   |   | 720 |  |   |   |   | 596 |  |   |
| Accrued bonus and incentive compensation             |   |   |   |   | 693 |  |   |   |   | 860 |  |   |
| Accrued workers compensation insurance               |   |   |   |   |   | 767 |  |   |   |   | 563 |  |   |
| Other accrued expenses                               |   |   |   |   |   | 339 |  |   |   |   | 534 |  |   |
| Payroll tax accrual                                  |   |   | (a) |   |   | 1,448 |  |   |   |   | 1,394 |  |   |
| Total accrued expenses and other current liabilities |   |   |   |   |   | $ | 4,746 |  |   |   |   | $ | 5,343 |  |   |

----

|                                                     |
|-----------------------------------------------------|
|                                                     |  |  |  |  |  |  |  |  |  |  |
|                                                |   |   | (in thousands) |   |
|                                                |   |   | Year Ended |   |
|                                                |   |   | September 30, |   |
|                                                | Ref |   | 2014 |   | 2013 |   |
| Interest expense, net                               |   |   | $ | (99 | ) |   | $ | (172 | ) |   |
| Amortization of deferred financing costs            |   |   | (10 | ) |   | (177 | ) |   |
| Change in value of derivative financial instruments | (a) |   | 99 |  |   | (42 | ) |   |
| Other income (expense), net                         |   |   | 6 |  |   | (16 | ) |   |
| Total other expense, net                            |   |   | $ | (4 | ) |   | $ | (407 | ) |   |

----

----

|                            |
|----------------------------|
|                            |  |  |  |  |  |  |  |  |  |
|                       |   |   | (in thousands) |
|                       |   |   | Year Ended |
|                       | Ref |   | September 30, |
|                       |   |   | 2014 |   | 2013 |
| DLH employees              |  |   | $ | 363 |  |   | $ | 140 |  |
| Non-employee directors     | (a) |   | 109 |  |   | 54 |  |
| Warrants to consultants    | (b) |   | — |  |   | 12 |  |
| Total compensation expense |   |   | $ | 472 |  |   | $ | 206 |  |

|                                                 |
|-------------------------------------------------|
|                                                 |  |  |  |  |  |  |  |  |  |
|                                            |   |   | (in thousands) |
|                                            |   |   | Period Ended |
|                                            |   |   | September 30, |
|                                            | Ref |   | 2014 |   | 2013 |
| Unrecognized expense for DLH employees          | (a) |   | $ | 346 |  |   | $ | 92 |  |
| Unrecognized expense for non-employee directors | (b) |   | 125 |  |   | 150 |  |
| Total unrecognized expense                      |   |   | $ | 471 |  |   | $ | 242 |  |

----

|                                              |
|----------------------------------------------|
|                                              |  |  |  |  |  |  |  |  |  |  |  |  |
|                                         |   |   |   |   |   |   | (in years) |   |   |
|                                         |   |   |   |   |   |   | Weighted |   |   |
|                                         |   |   |   |   | Weighted |   | Average |   | (in thousands) |
|                                         |   |   | (in thousands) |   | Average |   | Remaining |   | Aggregate |
|                                         |   |   | Number of |   | Exercise |   | Contractual |   | Intrinsic |
|                                         | Ref |   | Shares |   | Price |   | Term |   | Value |
| Options outstanding, September 30, 2012 |   |   | 1,363 |  |   | $1.19 |   | 8.6 |   | $ | 140 |  |
| Granted                                      |   |   | 250 |  |   | $0.95 |   |   |   |   |
| Cancelled                                    |   |   |   |   |   |   |   |   |   |
| Options outstanding, September 30, 2013 |   |   | 1,613 |  |   | $1.15 |   | 7.9 |   | $ | 388 |  |
| Granted                                      | (a) |   | 830 |  |   | $1.52 |   |   |   |   |  |
| Cancelled                                    |   |   | (63 | ) |   | $1.40 |   |   |   |   |  |
| Options outstanding, September 30, 2014      |   |   | 2,380 |  |   | $1.40 |   | 7.8 |   | $ | 1,589 |  |

|         |                                                                                              |
|---------|----------------------------------------------------------------------------------------------|
| • | average risk free interest rates of 2.55% and 0.69% for 2014 and 2013, respectively; |

|         |                                                                                 |
|---------|---------------------------------------------------------------------------------|
| • | expected volatility of 65.8% and 70.2% for 2014 and 2013, respectively; |

|         |                                                                              |
|---------|------------------------------------------------------------------------------|
| • | contractual lives and expected lives were 10 years for both periods; and |

|         |                                                       |
|---------|-------------------------------------------------------|
| • | no dividend yield was contemplated for either period. |

|                        |
|------------------------|
|                        |  |  |  |  |  |  |  |
|                   |   |   | (in thousands) |
|                   |   |   | Number of Shares |
|                   |   |   | September 30, |
|                   | Ref |   | 2014 |   | 2013 |
| Vested and exercisable | (a) |   | 896 |  |   | 413 |  |
| Unvested               | (b) |   | 1,484 |  |   | 1,200 |  |
| Options outstanding    |   |   | 2,380 |  |   | 1,613 |  |

----

|                                  |
|----------------------------------|
|                                  |  |  |  |  |  |  |  |  |  |
|                             |   |   | September 30, |
|                             |   |   | 2014 |   | 2013 |
| Liability:                       |   |   | — |  |   | — |  |
|                             |   |   |   |   |   |
| Derivative financial instruments |   |   | $ | — |  |   | $ | 160 |  |

|                                                                                           |
|-------------------------------------------------------------------------------------------|
|                                                                                           |  |  |  |  |  |  |  |  |
|                                                                                      |   | (in thousands) |
|                                                                                      |   | Year Ended |
|                                                                                      |   | September 30, 2014 |
|                                                                                      |   | 2014 |   | 2013 |
| Numerator:                                                                                |   |   |   |   |
| Net income (loss)                                                                         |   | $ | 5,357 |  |   | $ | (159 | ) |
| Denominator:                                                                              |   |   |   |   |
| Denominator for basic net income (loss) per share - weighted-average outstanding shares   |   | 9,570 |  |   | 9,310 |  |
| Effect of dilutive securities:                                                            |   |   |   |   |
| Stock options and restricted stock                                                        |   | 269 |  |   |  |  |
| Denominator for diluted net income (loss) per share - weighted-average outstanding shares |   | 9,839 |  |   | 9,310 |  |
|                                                                                      |   |   |   |   |
| Net income (loss) per share — basic                                                 |   | $ | 0.56 |  |   | $ | (0.02 | ) |
| Net income (loss) per share — diluted                                               |   | $ | 0.54 |  |   | $ | (0.02 | ) |

|                                  |
|----------------------------------|
|                                  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                             |   |   |   | Payments Due By Period |
| Obligations                      |   |   |   | Less than |   | 1-3 |   | 4-5 |
| (Amounts in thousands) |   | Total |   | 1 Year |   | Years |   | Years |
| Loan Payable (1)                 |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |
| Operating Leases                 |   | 303 |  |   | 143 |  |   | 160 |  |   | — |  |
| Total Obligations                |   | $ | 303 |  |   | $ | 143 |  |   | $ | 160 |  |   | $ | — |  |

----

----

|                                                  |
|--------------------------------------------------|
|                                                  |  |  |  |  |  |  |  |  |
|                                             |   | Year Ended |
|                                             |   | September 30, |
| (amounts in thousands)                           |   | 2014 |   | 2013 |
| Current deferred income tax asset:               |   |   |   |   |
| Net operating loss carryforwards and tax credits |   | $ | 98 |  |   | $ | — |  |
| Accrued liabilities                              |   | 122 |  |   | — |  |
| Valuation allowance                              |   | (136 | ) |   | — |  |
| Net current deferred tax asset                   |   | $ | 84 |  |   | $ | — |  |

|                                                   |
|---------------------------------------------------|
|                                                   |  |  |  |  |  |  |  |  |
|                                              |   | Year Ended |
|                                              |   | September 30, |
| (amounts in thousands)                            |   | 2014 |   | 2013 |
| Deferred income tax asset (liability):            |   |   |   |   |
| Net operating loss carry forwards and tax credits |   | $ | 16,556 |  |   | $ | 16,944 |  |
| Prepaid workers' compensation                     |   | 273 |  |   | 225 |  |
| Deferred rent                                     |   | 8 |  |   | 9 |  |
| Accrued liabilities                               |   | 336 |  |   | 431 |  |
| Stock based compensation                          |   | 646 |  |   | 500 |  |
| Fixed and intangible assets                       |   | (2,176 | ) |   | (1,989 | ) |
| Other items, net                                  |   | (129 | ) |   | (83 | ) |
| Valuation allowance                               |   | (11,001 | ) |   | (16,037 | ) |
| Net deferred tax asset                            |   | $ | 4,513 |  |   | $ | — |  |

|                            |
|----------------------------|
|                            |  |  |  |  |  |  |  |  |
|                       |   | Year Ended |
|                       |   | September 30, |
| (amounts in thousands)     |   | 2014 |   | 2013 |
| Current expense (benefit)  |   | $ | 7 |  |   | $ | — |  |
| Deferred expense (benefit) |   | (4,604 | ) |   | — |  |
| Total expense (benefit)    |   | $ | (4,597 | ) |   | $ | — |  |

----

|                               |
|-------------------------------|
|                               |  |  |  |  |  |  |  |  |
|                          |   | Year Ended |
|                          |   | September 30, |
| (amounts in thousands)        |   | 2014 |   | 2013 |
| Federal statutory rate        |   | $ | 258 |  |   | $ | (54 | ) |
| State taxes, net              |   | 46 |  |   | — |  |
| Other permanent items         |   | 6 |  |   | 3 |  |
| Tax credits                   |   | (7 | ) |   |   |
| Change in valuation allowance |   | (4,900 | ) |   | 51 |  |
|                          |   | $ | (4,597 | ) |   | $ | — |  |

|                                                 |
|-------------------------------------------------|
|                                                 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                            |   | 2014 Quarters |
|                                            |   | First |   | Second |   | Third |   | Fourth |
| Net revenues                                    |   | $ | 14,477 |  |   | $ | 14,745 |  |   | $ | 15,692 |  |   | $ | 15,579 |  |
| Gross profit                                    |   | 2,112 |  |   | 2,199 |  |   | 2,308 |  |   | 2,340 |  |
| Income (loss) from operations                   |   | 66 |  |   | 225 |  |   | 268 |  |   | 205 |  |
| Income (loss) before income taxes               |   | $ | 133 |  |   | $ | 198 |  |   | $ | 251 |  |   | $ | 178 |  |
| (Benefit) provision for income taxes            |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | (4,597 | ) |
| Net income (loss)                               |   | $ | 133 |  |   | $ | 198 |  |   | $ | 251 |  |   | $ | 4,775 |  |
| Earnings (loss) before taxes per share: (1) (2) |   |   |   |   |   |   |   |   |
| Basic                                           |   | $ | 0.01 |  |   | $ | 0.02 |  |   | $ | 0.03 |  |   | $ | 0.02 |  |
| Diluted                                         |   | $ | 0.01 |  |   | $ | 0.02 |  |   | $ | 0.03 |  |   | $ | 0.02 |  |
|                                            |   |   |   |   |   |   |   |   |
| Earnings (loss) per share: (1) (2)              |   |   |   |   |   |   |   |   |
| Basic                                           |   | $ | 0.01 |  |   | $ | 0.02 |  |   | $ | 0.03 |  |   | $ | 0.50 |  |
| Diluted                                         |   | $ | 0.01 |  |   | $ | 0.02 |  |   | $ | 0.03 |  |   | $ | 0.48 |  |

|                                                 |
|-------------------------------------------------|
|                                                 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                            |   | 2013 Quarters |
|                                            |   | First |   | Second |   | Third |   | Fourth |
| Net revenues                                    |   | $ | 12,994 |  |   | $ | 13,007 |  |   | $ | 13,460 |  |   | $ | 14,045 |  |
| Gross profit                                    |   | 1,788 |  |   | 1,771 |  |   | 1,975 |  |   | 1,964 |  |
| Income (loss) from operations                   |   | (94 | ) |   | 9 |  |   | 158 |  |   | 173 |  |
| Income (loss) before income taxes               |   | $ | (128 | ) |   | $ | (109 | ) |   | $ | 68 |  |   | $ | 9 |  |
| (Benefit) provision for income taxes            |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |
| Net income (loss)                               |   | $ | (128 | ) |   | $ | (109 | ) |   | $ | 68 |  |   | $ | 9 |  |
| Earnings (loss) before taxes per share: (1) (2) |   |   |   |   |   |   |   |   |
| Basic                                           |   | $ | (0.01 | ) |   | $ | (0.01 | ) |   | $ | 0.01 |  |   | $ | 0.00 |  |
| Diluted                                         |   | $ | (0.01 | ) |   | $ | (0.01 | ) |   | $ | 0.01 |  |   | $ | 0.00 |  |
|                                            |   |   |   |   |   |   |   |   |
| Earnings (loss) per share: (1) (2)              |   |   |   |   |   |   |   |   |
| Basic                                           |   | $ | (0.01 | ) |   | $ | (0.01 | ) |   | $ | 0.01 |  |   | $ | 0.00 |  |
| Diluted                                         |   | $ | (0.01 | ) |   | $ | (0.01 | ) |   | $ | 0.01 |  |   | $ | 0.00 |  |

----

|     |                                                                                                                                                                                                                   |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1) | Sum of the quarterly net income (loss) per share amounts does not equal the full fiscal year net income (loss) per share amount due to the effect of changes during the year in the number of shares outstanding. |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | Earnings (loss) per share. Basic earnings (loss) per share is calculated by dividing net income by the weighted-average number of shares outstanding during the reported period. The calculation of diluted earnings per share is similar to basic earnings per share, except that the weighted-average number of shares outstanding includes the dilution from potential shares added from stock options, restricted stock awards and other stock awards. |