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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities      
Net income $ 345,248 $ 4,552,682 $ 6,242,424
Less: Net loss from discounted operation (19,512) (17,887) (59,543)
NET INCOME FROM CONTINUING OPERATION 364,760 4,570,569 6,301,967
Adjustments to reconcile net income to cash provided (used in) by operating activities      
Allowance for doubtful accounts 1,000,000 116
Depreciation and amortization 1,107,360 949,550 215,630
Inventory reserve recovery (990) (5,812) (138,354)
Deferred income tax 1,411 19,012
Amortization of operating lease right-of-use assets 170,172 228,552 150,978
Shares based compensation 1,319,840 349,396 170,883
Non-cash shares issuance for round-up shares 61    
Unrealized foreign currency exchange loss (gain) 847 (35,008) (18,831)
Gain on disposal of property and equipment 725
Changes in operating assets and liabilities:      
Accounts receivable (6,814,746) 2,081,376 (1,300,942)
Inventories (530,637) 721,371 (157,709)
Advance to suppliers, net (5,586,209) (4,563,346) (430,621)
Prepaid expenses and other current assets (7,400,216) (2,170,541) (265,446)
Accounts payable 1,917,735 833,547 (141,927)
Operating lease liabilities (232,147) (147,812)
Taxes payable 832,476 1,561,946 (3,632,922)
Deferred revenue 385,769 (80,176) (875,295)
Accrued expenses and other current liabilities 5,525,631 2,097,424 94,873
Net cash (used in) provided by operating activities from continuing operation (7,708,147) 6,308,112 (157,125)
Net cash used in operating activities from discontinued operations (14,649) (6,960,024) (29,996)
Net cash used in operating activities (7,722,796) (651,912) (187,121)
Cash flows from investing activities      
Purchase of short-term investments (67) (5,097,816)
Proceeds upon redemption of short-term investments 65 6,776,385
Purchase of property and equipment (7,047) (61,906) (27,695)
Proceeds from sales of property and equipment 1,613
Capital expenditures on construction-in-progress (2,040,369)
Purchase of intangible assets (669,190)
Proceeds of borrowings to related parties 5,623
Payment of acquisition deposit
Net cash used in investing activities from continuing operation (6,982) (725,540) (387,882)
Net cash used in investing activities from discontinued operations (8,745) (460,125) (2,667,769)
Net cash used in investing activities (15,727) (1,185,665) (3,055,651)
Cash flows from financing activities      
Net proceeds from issuance of ordinary shares 5,600,000 2,027,544
Proceeds from exercise of stock options 140
Proceeds from short-term loans 4,308,260 2,879,809 2,631,890
Proceeds from long-term loans 694,030 1,132,803 578,343
Repayment of short-term loans (1,510,029) (2,728,836) (40,780)
Repayment of long-term loans (451,269) (2,143,046) (637,147)
(Repayment of) proceeds from borrowings from related parties 205,190 10,419 (97,213)
(Repayment of) proceeds from third party loans (96,066)
(Repayment of) principal from finance lease (26,509) 173,961
Net cash provided by financing activities from continuing operation 8,750,116 1,152,184 2,261,272
Net cash provided by financing activities from discontinued operations 4,997 3,063 244
Net cash provided by financing activities 8,755,113 1,155,247 2,261,516
Effect of changes of foreign exchange rates on cash (470,731) (45,780) (81,750)
Net (decrease) increase in cash and restricted cash 545,859 (728,110) (1,063,006)
Cash and restricted cash, beginning of year 112,751 840,861 1,903,867
Cash and restricted cash, end of year 658,610 112,751 840,861
Less: Cash of discontinued operations at the end of the year 1,405 1,517 1,746
Cash and restricted cash of the continued operations at the end of the year 657,205 111,235 839,115
Supplemental disclosure of cash flow information      
Cash paid for interest expense 303,325 238,224 446,884
Cash paid for income tax 478,683 2,290,393
Supplemental disclosure of non-cash investing and financing activities      
Exercise of options 2
Right-of-use assets obtained in exchange for operating lease obligations 546,323
Unpaid purchase of property and equipment 403,318
The following table identifies the balance sheet line items included in cash, cash equivalents, and restricted cash presented in the consolidated statements of cash flows:      
Cash 80,466
Restricted cash 576,739
Total $ 657,205