XML 17 R5.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Operating Activities    
Net income $ 227,832 $ 169,624
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 217,886 203,349
Amortization 640,560 412,902
Provision for excess and obsolete inventories 284,577 300,000
Deferred income tax provision (benefit) (25,000) 46,000
Share based compensation expense 87,002 94,275
Loss from equity method investment 140,998
Changes in assets and liabilities:    
Accounts receivable 75,535 (1,255,966)
Income tax receivable\payable 113,725 (297,588)
Inventories, net 270,905 1,559,195
Prepaid expenses (55,560) (140,813)
Other assets (424) (1,310)
Accounts payable 375,140 213,280
Accrued expenses (365,778) (378,903)
Other liabilities 70,240 9,402
Net cash provided by operating activities 1,916,640 1,074,445
Investing Activities    
Acquisition of net operating assets (6,643,540) (178,000)
Guaranteed payments for acquisition of business (1,000,000) (1,000,000)
Loan repayments from (investment in and loans to) equity method investee 2,227,387 (421,560)
Purchases of property and equipment (130,150) (182,869)
Net cash used in investing activities (5,546,303) (1,782,429)
Financing Activities    
Proceeds from notes payable 4,000,000
Debt issuance costs (16,300)
Payments on notes payable (976,833) (433,748)
Net cash provided by (used in) financing activities 3,006,867 (433,748)
Net decrease in cash and cash equivalents (622,796) (1,141,732)
Cash and cash equivalents at beginning of period 4,508,126 6,110,986
Cash and cash equivalents at end of period 3,885,330 4,969,254
Supplemental cash flow information:    
Cash paid for interest 161,612 110,073
Cash paid for income taxes 319,200
Supplemental noncash investing activities:    
Deferred guaranteed payments for acquisition of business $ (1,897,372)