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STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Mar. 31, 2024
Mar. 31, 2023
OPERATING ACTIVITIES    
Net income $ 17,124,699 $ 22,694,458
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation 308,147 196,738
Bond premium (discount) amortization (106,354) 60,868
Provision for current estimate of credit losses 9,514 0
Stock-based compensation 141,936 59,657
Deferred income taxes (1,003,844) 161,894
Changes in operating assets and liabilities    
Accounts receivable 3,368,997 (1,818,515)
Inventories (741,575) (1,328,375)
Prepaid expenses and other assets 110,043 (208,532)
Accounts payable and accrued expenses (964,152) (726,695)
Net cash provided by operating activities 18,247,411 19,091,498
INVESTING ACTIVITIES    
Purchases of fixed assets (16,731) (935,791)
Purchases of marketable securities (6,103,185) (28,441,317)
Proceeds from maturities of marketable securities 15,700,000 20,750,000
Receipt of tenant improvement allowance 0 100,000
Net cash provided by (used in) investing activities 9,580,084 (8,527,108)
FINANCING ACTIVITIES    
Exercise of stock options, net of shares withheld for exercise price 117,463 (3)
Repurchase of common stock 0 (20,697)
Payment of dividends to shareholders (19,331,304) (19,323,304)
Net cash used in financing activities (19,213,841) (19,344,004)
Increase (decrease) in cash and cash equivalents 8,613,654 (8,779,614)
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Beginning Balance 1,669,896 10,449,510
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Ending Balance 10,283,550 1,669,896
Supplemental disclosures of cash flow information    
Cash paid during the year for income taxes $ 4,539,071 $ 4,501,656