XML 42 R5.htm IDEA: XBRL DOCUMENT v3.2.0.727
Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Operating Activities    
Net income (loss) $ 1,287,312 $ (626,215)
Net loss from discontinued operations   (666,046)
Net income from continuing operations $ 1,287,312 39,831
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation 299,591 258,796
Amortization 619,354 322,983
Provision for excess and obsolete inventories 450,000 451,351
Deferred income tax benefit (180,000) (148,000)
Share based compensation expense 184,751 134,643
Changes in assets and liabilities:    
Accounts receivable 593,954 213,205
Income tax refund receivable 212,924 (295,122)
Inventories, net (2,166,895) (3,201,256)
Prepaid expenses 17,550 (502)
Accounts payable (125,367) 270,233
Accrued expenses (62,003) 52,706
Net cash provided by (used in) operating activities – continuing operations $ 1,131,171 (1,901,132)
Net cash provided by operating activities – discontinued operations   272,372
Net cash provided by (used in) operating activities $ 1,131,171 (1,628,760)
Investing Activities    
Acquisition of business, net of cash acquired   $ (9,630,647)
Guaranteed payments for acquisition of business $ (1,000,000)  
Additions to land and buildings (56,074)  
Additions to machinery and equipment $ (90,187) $ (29,658)
Proceeds from sale of discontinued operations   2,000,000
Net cash used in investing activities $ (1,146,261) (7,660,305)
Financing Activities    
Proceeds on notes payable   5,000,000
Payments on notes payable $ (632,266) (197,966)
Net cash provided by (used in) financing activities (632,266) 4,802,034
Net decrease in cash and cash equivalents (647,356) (4,487,031)
Cash and cash equivalents at beginning of period 5,286,097 8,476,725
Cash and cash equivalents at end of period 4,638,741 3,989,694
Supplemental cash flow information:    
Cash paid for interest 156,098 80,319
Cash paid for income taxes $ 600,000 32,000
Supplemental noncash investing activities:    
Deferred guaranteed payments for acquisition of business   (2,744,338)
Other receivable related to proceeds from sale of asset held for sale   $ 1,413,001