XML 61 R6.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2017
Operating Activities      
Net loss $ (5,302,443) $ (7,319,856) $ (98,116)
Net income (loss) from discontinued operations (1,267,344) (1,536,159) 2,357,629
Net loss from continuing operations (4,035,099) (5,783,697) (2,455,745)
Adjustments to reconcile net loss from continuing operations to net cash provided by (used in) operating activities:      
Depreciation 367,492 136,761 151,235
Amortization 1,085,400 1,253,244 1,267,182
Provision for excess and obsolete inventories 681,925 175,712 307,811
Charge for lower of cost or net realizable value for inventories 656,323 246,053 126,822
Gain on disposal of property and equipment (251,214) (1,980)
Deferred income tax provision (benefit) 1,328,000 (463,000)
Share based compensation expense 199,292 155,174 175,465
Restructuring charge 449,845
(Gain) loss from equity method investment (135,505) 258,558
Changes in operating assets and liabilities:      
Accounts receivable (1,419,580) 609,223 300,933
Unbilled revenue (2,253,183)
Income tax receivable\payable 157,416 37,648 226,377
Inventories (1,590,972) (462,051) (1,434,314)
Prepaid expenses and other assets (205,516) 25,147 19,163
Accounts payable 180,256 868,779 760,908
Accrued expenses and other liabilities 477,042 36,909 132,166
Deferred revenue 97,478
Net cash used in operating activities – continuing operations (5,988,445) (666,675) (884,997)
Net cash provided by operating activities – discontinued operations 1,179,876 4,492,109 3,873,810
Net cash provided by (used in) operating activities (4,808,569) 3,825,434 2,988,813
Investing Activities      
Acquisition of net operating assets (1,264,058) (6,643,540)
Proceeds from sale of business 753,199
Loan repayments from (investment in and loans to) equity method investee 184,505 (208,854) 2,389,920
Purchases of property and equipment (601,612) (127,257) (140,680)
Disposals of property and equipment 452,245 13,500
Net cash used in investing activities – continuing operations (475,721) (322,611) (4,394,300)
Net cash provided by (used in) investing activities – discontinued operations 7,075,000 10,400 (47,806)
Net cash provided by (used in) investing activities 6,599,279 (312,211) (4,442,106)
Financing Activities      
Change in bank revolving line of credit (500,000) 500,000
Guaranteed payments for acquisition of business (667,000) (667,000) (1,000,000)
Proceeds on notes payable 4,000,000
Debt issuance costs (16,300)
Payments on notes payable (1,496,279) (4,005,658) (1,881,802)
Principal payments on capital lease obligations (64,753)
Net cash provided by (used in) financing activities – continuing operations (2,728,032) (4,172,658) 1,101,898
Net cash used in financing activities – discontinued operations (597,906) (184,008) (184,008)
Net cash provided by (used in) financing activities (3,325,938) (4,356,666) 917,890
Net decrease in cash and cash equivalents and restricted cash (1,535,228) (843,443) (535,403)
Cash and cash equivalents and restricted cash at beginning of year 3,129,280 3,972,723 4,508,126
Cash and cash equivalents and restricted cash at end of year 1,594,052 3,129,280 3,972,723
Supplemental cash flow information:      
Cash paid for interest 126,059 220,117 360,805
Cash received from income taxes (172,343) (59,674) (61,000)
Supplemental noncash investing activities:      
Deferred guaranteed payments for acquisition of business (1,836,105)
Promissory note from disposition of business $ 6,375,000