XML 25 R6.htm IDEA: XBRL DOCUMENT v3.24.2.u1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 3,818,186 $ 3,393,133
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,437,232 258,892
Share-based compensation expense    
Stock options 265,024 646,172
Stock awards 460,931 584,483
Gain on disposal of property and equipment (160,577)  
Impairment of long-lived assets   44,400
Deferred income taxes (623,683) (597,221)
(Increase) decrease in:    
Accounts receivable 2,414,052 (1,646,558)
Contract assets (611,162) (89,420)
Inventories (3,275,938) (393,509)
Prepaid expenses and other current assets 309,943 (71,679)
Other non-current assets (364,041) (104,626)
Increase (decrease) in:    
Accounts payable 2,006,601 58,251
Accrued expenses (92,237) (854,793)
Income taxes (221,615) (133,370)
Contract liabilities (11,825) (156,230)
Net cash provided by operating activities 5,350,891 937,925
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (511,927) (165,084)
Proceeds from the sale of property and equipment 2,225,810  
Acquisition of a business   (35,860,000)
Net cash provided by (used in) investing activities 1,713,883 (36,025,084)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayments of term note (19,500,000)  
Proceeds from line of credit note 29,044,688  
Repayments of line of credit note (19,185,614)  
Proceeds from term note   20,000,000
Proceeds from exercise of stock options   408,846
Net cash (used in) provided by financing activities (9,640,926) 20,408,846
Net (decrease) increase in cash and cash equivalents (2,576,152) (14,678,313)
Cash and cash equivalents, beginning of year 3,097,193 17,250,546
Cash and cash equivalents, end of year 521,041 2,572,233
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for income taxes 1,913,456 $ 1,608,506
SUPPLEMENTAL DISCLOSURE OF NONCASH INFORMATION    
Transfer from prepaid inventory to purchases of property and equipment 3,729,000  
Transfer from prepaid inventory to inventory 5,124,521  
Transfer from prepaid inventory to goodwill 516,580  
Transfer from prepaid inventory to intangible assets, net $ 800,000