Annual report pursuant to Section 13 and 15(d)

Consolidated Statements Of Cash Flows

v3.6.0.2
Consolidated Statements Of Cash Flows - USD ($)
 12 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2014
OPERATIONS      
Net income $ 344,725 $ 4,346,036 $ 2,433,061
Adjustments to reconcile net income to net cash (used in) provided by operating activities:      
Depreciation and amortization 422,873 494,258 589,343
Provision for obsolete inventory (8,630) 173,634 37,603
Provision for bad debts   38,068
Share-based compensation 499,873 489,689 858,615
Deferred income taxes 2,054,817 1,925,739 1,012,334
Loss on disposal of fixed assets 699 3,483 491
Changes in operating assets and liabilities:      
Accounts receivable (4,524,310) (11,144,540) (619,753)
Income tax receivable 18,864 (21,251) 78,440
Inventories (738,834) 1,064,633 (561,633)
Prepaid expenses and other assets (77,721) 58,241 (151,656)
Accounts payable (376,314) (47,510) 220,810
Accrued expenses and other current liabilities 669,600 1,108,891 (270,310)
Net cash (used in) provided by operating activities (1,714,358) (1,548,697) 3,665,413
INVESTING ACTIVITIES      
Capital expenditures (6,374) (135,424) (97,311)
Net cash used in investing activities (6,374) (135,424) (97,311)
FINANCING ACTIVITIES      
Proceeds from exercise of stock options     117,600
Purchases of common stock for treasury shares   (950) (737,745)
Dividends paid on common stock   (5,338) (6,074,164)
Net cash used in financing activities   (6,288) (6,694,309)
Net decrease in cash (1,720,732) (1,690,409) (3,126,207)
Cash at beginning of year 4,105,814 5,796,223 8,922,430
CASH AT END OF YEAR 2,385,082 4,105,814 5,796,223
Supplemental Disclosure of Cash Flow Information:      
Cash payments for income taxes 352,856 294,441 773,041
Schedule of noncash financing and investing activities:      
Dividends payable     6,913
Reduction of accrued expense upon issuance of shares 19,785 $ 255,577 $ 311,515
Fixed asset additions in accounts payable at year end $ 2,295