Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements Of Cash Flows

v3.6.0.2
Condensed Consolidated Statements Of Cash Flows - USD ($)
 3 Months Ended
Dec. 31, 2016
Dec. 31, 2015
OPERATING ACTIVITIES    
Net (loss) income $ (1,366,181) $ 1,490,363
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:    
Depreciation and amortization 89,284 114,406
Amortization of intangible assets 26,729 0
Share-based compensation 317,311 123,344
Warrants issued 542,930  
Deferred income taxes (591,573) 746,452
Loss on disposal of fixed assets 4,469 111
Changes in current assets and liabilities, net of effects of acquisition of a business    
Decrease (increase) in accounts receivable 2,391,226 (3,596,429)
Decrease (increase) in income tax receivable 191 (5,944)
Decrease in inventory 111,404 183,063
Increase (decrease) in prepaid expenses and other assets (75,378) 291,795
(Decrease) increase in accounts payable (522,125) 71,038
Increase in accrued expenses and other current liabilities 237,678 150,570
Net cash provided by (used in) operating activities 1,165,965 (431,231)
INVESTING ACTIVITIES    
Capital expenditures (65,623) (2,942)
Net cash used in investing activities (65,623) (2,942)
Net increase (decrease) in cash 1,100,342 (434,173)
Cash at beginning of period 2,385,082 4,105,814
CASH AT END OF PERIOD 3,485,424 3,671,641
Supplemental Disclosure of Cash Flow Information:    
Cash payments for income taxes paid 112,695 $ 69,856
Schedule of noncash financing and investing activities:    
Issuance of common stock in connection with the APP merger 1,826,097  
Issuance of Series 4 Preferred Stock in connection with the APP Merger 17,981,883  
Reduction of accrued expense upon issuance of shares $ 22,176