XML 20 R8.htm IDEA: XBRL DOCUMENT v3.19.1
Condensed Consolidated Unaudited Statements of Cash Flows - USD ($)
6 Months Ended
Mar. 31, 2019
Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 2,768,536 $ 1,818,990
Adjustments to reconcile net income from operations to net cash flows from operating activities:    
Depreciation 1,217,986 1,020,783
Amortization 31,250 48,125
Gain on sale of property and equipment (17,832) (300)
Equity-based compensation 622,390 642,785
Deferred income taxes 226,918 (423,322)
Provision (recovery) for losses on doubtful accounts 59,000 (77,000)
Inventory allowance 240,699 (231,625)
Other 1,978 1,978
Changes in assets and liabilities:    
Accounts receivable 3,353,602 1,521,705
Inventories 20,978,357 (2,951,171)
Prepaid and other current assets (2,402,722) 1,216,336
Other assets 7,897 (19,903)
Accounts payable (467,687) 126,012
Accrued expenses and accrued wages, salaries and bonuses (2,275,795) (1,059,839)
Income taxes payable / receivable 273,742 (368,469)
Net cash flows from operating activities 24,618,319 1,265,085
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (2,159,232) (1,366,767)
Proceeds from sales of property and equipment 23,700 300
Net cash flows used in investing activities (2,135,532) (1,366,467)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings under revolving credit facility 642,850,736 623,945,799
Repayments under revolving credit facility (661,055,136) (622,433,675)
Principal payments on long-term debt (556,969) (185,753)
Repurchase of common stock (3,186,846) (644,528)
Dividends on common stock (413,100) (458,859)
Withholdings on the exercise of equity-based awards   (79,850)
Net cash flows from (used in) financing activities (22,361,315) 143,134
Net change in cash 121,472 41,752
Cash, beginning of period 520,644 523,065
Cash, end of period 642,116 564,817
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 774,784 489,840
Cash paid during the period for income taxes 674,340 705,790
Supplemental disclosure of non-cash information:    
Equipment acquisitions classified in accounts payable 212,800 63,962
Issuance of common stock in connection with the vesting and exercise of equity-based awards $ 1,005,792 $ 1,183,091