your captcha is too weak and is almost useless to prevent bruteforce attacks and attacks like creating lots of tickets as mentioned above. I would advise to use strong captcha.
It can be easily decoded with any OCR for example
https://code.google.com/p/tesseract-ocr/downloads/list
use tesseract-ocr-setup-3.02.02.exe
after installing this just run command
tesseract captcha.png decoded.txt -l eng
example:

It will be accurate 95% of times.
It is possible for an attacker to code some automated tool to launch bruteforce attacks, create 1000's of new users, create lot of supprot tickets etc.
thanks