Annual report pursuant to Section 13 and 15(d)

Consolidated Statements Of Cash Flows

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Consolidated Statements Of Cash Flows - USD ($)
 12 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2015
OPERATIONS      
Net (loss) income $ (6,612,047) $ 344,725 $ 4,346,036
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:      
Depreciation and amortization 333,999 422,873 494,258
Amortization of intangible assets 147,009    
Share-based compensation 756,275 499,873 489,689
Warrants issued 542,930    
Deferred income taxes (2,255,069) 2,054,817 1,925,739
Provision for obsolete inventory 345,179 (8,630) 173,634
Loss on disposal of fixed assets 73,992 699 3,483
Changes in current operating assets and liabilities, net of effects of acquisition of a business:      
Decrease (increase) in accounts receivable 7,226,825 (4,524,310) (11,144,540)
Decrease (increase) in income tax receivable 2,387 18,864 (21,251)
Decrease (increase) in inventory (479,418) (738,834) 1,064,633
Decrease (increase) in prepaid expenses and other assets (29,383) (77,721) 58,241
(Decrease) increase in accounts payable 897,471 (376,314) (47,510)
Increase in unearned revenue 1,014,517    
(Decrease) increase in accrued expenses and other current liabilities (981,779) 669,600 1,108,891
Net cash provided by (used in) operating activities 982,888 (1,714,358) (1,548,697)
INVESTING ACTIVITIES      
Aquisition of Aspen Park Pharmaceuticals 43,118    
Capital expenditures (133,486) (6,374) (135,424)
Net cash used in investing activities (90,368) (6,374) (135,424)
FINANCING ACTIVITIES      
Purchases of common stock for treasury shares     (950)
Dividends paid on common stock     (5,338)
Net cash used in financing activities     (6,288)
Net increase (decrease) in cash 892,520 (1,720,732) (1,690,409)
Cash at beginning of year 2,385,082 4,105,814 5,796,223
CASH AT END OF YEAR 3,277,602 2,385,082 4,105,814
Supplemental Disclosure of Cash Flow Information:      
Cash payments for income taxes 230,705 352,856 294,441
Acquisition of Aspen Park Pharmaceuticals      
Identifiable non-cash assets acquired 21,049,645    
Identifiable liabilities assumed (8,163,715)    
Net identifiable non-cash assets acquired 12,885,930    
Goodwill 6,878,932    
Subtotal 19,764,862    
Less: consideration issued      
Common Stock 1,826,097    
Series 4 Preferred Stock 17,981,883    
Net cash acquired 43,118    
Schedule of noncash financing and investing activities:      
Reduction of accrued expense upon issuance of shares $ 22,176 $ 19,785 $ 255,577