XML 22 R8.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income available to common shareholders $ 16,672,257 $ 15,545,265
Adjustments to reconcile net income available to common shareholders to net cash flows from (used in) operating activities:    
Depreciation 3,572,953 3,093,017
Amortization 70,887  
Equity method investment earnings, net of tax (1,670,133) (3,357,978)
Gain on re-valuation of equity method investment to fair value (2,387,411)  
Gain on sales of property and equipment (140,139) (9,864)
Equity-based compensation 3,103,320 2,415,156
Deferred income taxes 797,360 (275,347)
Provision for losses on doubtful accounts (32,420) 50,000
Inventory allowance 212,637 37,708
Change in fair value of mandatorily redeemable non-controlling interest 1,476,986  
Changes in assets and liabilities net of effects of business acquisition:    
Accounts receivable 3,032,876 (1,615,734)
Inventories 3,240,946 3,721,980
Prepaid and other current assets (5,344,754) (2,732,480)
Equity method investment distributions 1,095,467 1,392,730
Other assets (730,391) 48,967
Accounts payable 332,400 1,998,494
Accrued expenses and accrued wages, salaries and bonuses 2,482,409 1,164,828
Other long-term liabilities (653,419) (169,854)
Income taxes payable and receivable (2,241,755) (371,248)
Net cash flows from (used in) operating activities 22,890,076 20,935,640
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (14,691,799) (1,525,882)
Proceeds from sales of property and equipment 152,000 55,728
Principal payment received on note receivable 175,000  
Cash acquired in business acquisition 7,958  
Net cash flows from (used in) investing activities (14,356,841) (1,470,154)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings under revolving credit facilities 2,042,679,688 1,663,751,276
Repayments under revolving credit facilities (2,041,106,459) (1,682,072,093)
Proceeds from borrowings on long-term debt   3,000,000
Principal payments on long-term debt (4,909,548) (510,177)
Proceeds from exercise of stock options 173,590  
Repurchase of common stock   (5,738)
Dividends on common stock (3,440,202) (3,355,301)
Settlement and withholdings of equity-based awards (1,280,749) (415,057)
Distributions to non-controlling interest (737,570)  
Net cash flows from (used in) financing activities (8,621,250) (19,607,090)
Net change in cash (88,015) (141,604)
Cash, beginning of period 519,591 661,195
Cash, end of period 431,576 519,591
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 2,210,828 1,353,985
Cash paid during the period for income taxes 7,915,225 5,138,454
Supplemental disclosure of non-cash information:    
Equipment acquisitions classified in accounts payable 91,656 128,249
Effect of business acquisition (see Note 2) 23,308,624  
Issuance of common stock in connection with the vesting and exercise of equity-based awards $ 2,280,783 $ 949,812