XML 20 R8.htm IDEA: XBRL DOCUMENT v3.22.4
Condensed Consolidated Unaudited Statements of Cash Flows - USD ($)
3 Months Ended
Dec. 31, 2022
Sep. 30, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income available to common shareholders $ 2,629,001   $ 3,001,055
Adjustments to reconcile net income available to common shareholders to net cash flows from (used in) operating activities:      
Depreciation 1,028,353   784,245
Amortization 42,533    
Equity method investment earnings, net of tax     (770,365)
(Gain) loss on sales of property and equipment (36,000)   (31,000)
Equity-based compensation 390,570   710,056
Deferred income taxes 1,145,822   1,173,648
Provision for losses on doubtful accounts (496,332)   (102,000)
Inventory allowance 141,087   99,304
Change in fair value of mandatorily redeemable non-controlling interest (54,916) $ (54,916)  
Changes in assets and liabilities      
Accounts receivable 8,381,282   5,084,916
Inventories (50,699,513)   (2,629,537)
Prepaid and other current assets 45,110   (6,573)
Other assets 199,411   22,184
Accounts payable (6,602,785)   (5,750,609)
Accrued expenses and accrued wages, salaries and bonuses (4,794,015)   (1,519,848)
Other long-term liabilities 48,921   (743,776)
Income taxes payable and receivable 158,978   71,352
Net cash flows from (used in) operating activities (48,472,493)   (606,948)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of property and equipment (1,455,405)   (333,084)
Proceeds from sales of property and equipment 36,000   31,000
Principal payment received on note receivable     175,000
Net cash flows from (used in) investing activities (1,419,405)   (127,084)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Borrowings under revolving credit facilities 639,488,133   439,039,482
Repayments under revolving credit facilities (589,262,053)   (434,242,609)
Principal payments on long-term debt (202,396)   (138,284)
Dividends on common stock (111,220)   (3,114,775)
Settlement and withholdings of equity-based awards     (488,412)
Net cash flows from (used in) financing activities 49,912,464   1,055,402
Net change in cash 20,566   321,370
Cash, beginning of period 431,576   519,591
Cash, end of period 452,142 $ 431,576 840,961
Supplemental disclosure of cash flow information:      
Cash paid during the period for interest 1,458,843   333,941
Supplemental disclosure of non-cash information:      
Equipment acquisitions classified in accounts payable 28,183   16,591
Dividends declared, not paid 3,089,430    
Issuance of common stock in connection with the vesting and exercise of equity-based awards $ 2,044,805   $ 2,280,783