XML 23 R8.htm IDEA: XBRL DOCUMENT v3.24.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income available to common shareholders $ 4,336,489 $ 11,596,393
Adjustments to reconcile net income available to common shareholders to net cash flows from (used in) operating activities:    
Depreciation 8,957,478 7,161,468
Amortization 537,701 415,178
(Gain) loss on sales of property and equipment (177,467) (133,659)
Equity-based compensation 2,489,781 2,717,370
Deferred income taxes (543,644) 2,589,372
Provision for credit losses (64,705) (133,924)
Inventory allowance 62,349 (138,820)
Change in fair value of contingent consideration (124,992)  
Change in fair value of mandatorily redeemable non-controlling interest 1,040,968 1,307,599
Changes in assets and liabilities, net of effects of business combinations:    
Accounts receivable 5,900,380 (138,956)
Inventories 29,003,285 (7,728,394)
Prepaid and other current assets 2,227,044 (679,229)
Other assets (38,193) (163,340)
Accounts payable 11,397,485 2,213,085
Accrued expenses and accrued wages, salaries and bonuses 1,221,322 1,574,050
Other long-term liabilities 511,231 298,914
Income taxes payable and receivable 1,135,839 (1,034,889)
Net cash flows from (used in) operating activities 67,872,351 19,722,218
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (20,429,805) (11,561,347)
Proceeds from sales of property and equipment 416,546 151,808
Net cash flows from (used in) investing activities (42,108,695) (66,274,842)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings under revolving credit facilities 2,517,192,464 2,512,309,723
Repayments under revolving credit facilities (2,536,358,449) (2,463,134,172)
Proceeds from borrowings on long-term debt   7,000,000
Principal payments on long-term debt (3,765,153) (2,349,065)
Repurchase of common stock   (404,876)
Dividends on common stock (630,362) (3,534,308)
Redemption and distributions to non-controlling interest (2,320,299) (2,975,323)
Net cash flows from (used in) financing activities (25,881,799) 46,911,979
Net change in cash (118,143) 359,355
Cash, beginning of period 790,931 431,576
Cash, end of period 672,788 790,931
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest, net of amounts capitalized 9,985,313 8,311,375
Cash paid during the period for income taxes, net of refunds 2,520,127 4,141,370
Supplemental disclosure of non-cash information:    
Equipment acquisitions classified in accounts payable 1,016,948 1,015,534
Purchase of property financed with promissory note 8,000,000  
Portion of Burklund acquisition financed with promissory note (See Note 2) 3,900,000  
Portion of Burklund acquisition financed with contingent consideration (See Note 2) 1,578,444  
Issuance of common stock in connection with the vesting of equity-based awards 1,296,372 2,044,805
Burklund Distributors, Inc    
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisition (15,464,397)  
Richmond Master Distributors, Inc    
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisition $ (6,631,039)  
Henry's    
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisition   $ (54,865,303)