Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements Of Cash Flows

v3.3.1.900
Condensed Consolidated Statements Of Cash Flows - USD ($)
 3 Months Ended
Dec. 31, 2015
Dec. 31, 2014
OPERATING ACTIVITIES    
Net income $ 1,490,363 $ 804,917
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 114,406 127,939
Share-based compensation 123,344 199,676
Deferred income taxes 746,452 569,768
Loss on disposal of fixed assets 111 3,483
Changes in current assets and liabilities (2,905,907) (2,925,956)
Net cash used in operating activities (431,231) (1,220,173)
INVESTING ACTIVITIES    
Capital expenditures (2,942) (2,282)
Net cash used in investing activities (2,942) (2,282)
FINANCING ACTIVITIES    
Dividends paid on common stock   (5,198)
Net cash used in financing activities   (5,198)
Net decrease in cash (434,173) (1,227,653)
Cash at beginning of period 4,105,814 5,796,223
CASH AT END OF PERIOD 3,671,641 4,568,570
Supplemental Disclosure of Cash Flow Information:    
Cash payments for income taxes $ 69,856 61,430
Schedule of noncash financing and investing activities:    
Reduction of accrued expense upon issuance of shares   $ 239,580