XML 21 R7.htm IDEA: XBRL DOCUMENT v3.20.4
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ (6,214,000) $ 1,841,000
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities    
Depreciation and amortization 2,854,000 1,832,000
Amortization of forgivable loans 894,000 680,000
Stock-based compensation 3,108,000 4,282,000
Provision (recovery) for doubtful accounts 191,000 (216,000)
Deferred income tax expense (benefit) (2,905,000) (368,000)
Amortization of deferred clearing and marketing credit (210,000) (209,000)
Change in fair value of contingent consideration 311,000 65,000
Disposition/settlement of contingent consideration (540,000)
Impairment of intangible assets 401,000
Impairment of goodwill 724,000 0
Gain on disposal of Gilman branches (297,000)
Amortization of right-of-use assets 3,200,000
Changes in assets and liabilities    
Cash deposits with clearing organizations (10,000) (100,000)
Receivables from broker dealers and clearing organizations 172,000 477,000
Forgivable loans receivable (3,508,000) (1,052,000)
Other receivables, net (5,879,000) (1,200,000)
Securities owned, at fair value 8,853,000 (4,695,000)
Prepaid expenses 959,000 426,000
Other assets 449,000 (629,000)
Accounts payable, accrued expenses and other liabilities (3,794,000) 6,542,000
Securities sold, but not yet purchased at fair value (203,000)
Net cash provided by (used in) operating activities (1,444,000) 7,676,000
CASH FLOWS FROM INVESTING ACTIVITIES    
Acquisition of businesses (4,945,000) (387,000)
Purchase of fixed assets (240,000) (2,744,000)
Collection on notes receivable - disposal of National Tax branches 71,000 114,000
Net cash used in investing activities (5,114,000) (3,017,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Repurchase of common stock for tax withholding (373,000) (425,000)
Principal payments under capital lease obligations (236,000) (223,000)
Principal payments under Finance obligations (229,000) (365,000)
Proceeds from PPP related loans 6,497,000
Contingent consideration payments (730,000) (617,000)
Distributions to non-controlling interest (1,485,000) (899,000)
Net cash provided by (used in) in financing activities 3,444,000 (2,529,000)
NET (DECREASE) INCREASE IN CASH AND RESTRICTED CASH (3,114,000) 2,130,000
CASH AND RESTRICTED CASH BALANCE    
Beginning of the year 31,403,000 29,273,000
End of the year 28,289,000 31,403,000
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Interest 53,000 32,000
Income taxes, net of refunds 108,000 118,000
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES    
Fixed assets (acquired but not paid) 1,000 380,000
Finance obligation 958,000
Assets acquired including goodwill 17,395,000 1,815,000
Contingent consideration payable (9,740,000) (1,428,000)
Additional consideration payable (1,083,000)
Escrow deposit (500,000)
Cash received (1,127,000)
Cash paid, net of cash received 4,945,000 387,000
Notes receivable (included in other receivables) 636,000
Disposal of goodwill (239,000)
Disposal of intangible assets, net (100,000)
Gain on disposal of National Tax branch $ 297,000