A homeless drug addict who threatened to stab a security guard could be jailed, a Ballarat magistrate has warned.
Christy Isaacs threatened the security guard at Melbourne's South Bank in May 2016 after she stole a pair of socks and shoes from a sports store.
While making the threat to stab, she put her hand in her bag, frightening the security guard.
Police arrested Isaacs and her co-accused a short time later at Southern Cross Station.
Tools, including a box cutter and screw driver were found in Isaacs bag.
Isaacs pleaded guilty at Ballarat Magistrates Court on Thursday to a number of charges, including shop theft, threatening to inflict serious injury and possessing cannabis.
Magistrate Gregory Robinson told Isaacs she was one step away from jail.
He ordered her to be assessed for a community corrections order.
"The threat to the security guard and put her hand in her bag with a box cutter in there worries me," Mr Robinson said.
"She is on thin ice. If she doesn't get he CCO I will be sending her to jail."
Isaac's defence lawyer David Tamanika said his client was a homeless drug addict living in the Melbourne CBD.
He said she was drug-affected when she threatened the security guard and she was not carrying the box cutter when she threatened the security guard.
Mr Tamanika said the mother-of-two is now off the drugs, living with her sister in Ballarat and working for the dole.
Isaacs is being assessed for a community corrections order.