v3.20.4
Condensed Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities    
Net income $ 3,163,439 $ 501,158
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 567,718 606,972
Amortization of discount on investments (28,051)
Stock-based compensation 289,057 240,586
Changes in operating assets and liabilities:    
Accounts receivable 699,031 2,092,912
Inventories, net 720,949 (1,617,461)
Other assets 136,182 (47,538)
Accounts payable and accrued expenses (2,859,717) (1,848,409)
Net cash provided by (used in) operating activities 2,716,659 (99,831)
Cash flows from investing activities    
Purchases of property, plant and equipment and intangible assets (378,883) (788,469)
Purchases of investments (3,968,000) (3,211,000)
Proceeds from maturities of investments 4,426,000 4,438,000
Net cash provided by investing activities 79,117 438,531
Cash flows from financing activities    
Proceeds from issuance of common stock under employee stock purchase plan 179,081 169,652
Tax withholding related to exercise of stock options 85 2,580
Tax withholding related to vesting of restricted stock grants (10,947) (5,803)
Net cash (used in) provided by financing activities (94,336) 166,429
Increase in cash and cash equivalents 2,701,440 505,129
Cash and cash equivalents, beginning of period 16,449,636 10,081,721
Cash and cash equivalents, end of period 19,151,076 10,586,850
Supplemental disclosures for cash flow information    
Cash paid during the year for income taxes 17,000 29,907
Non-cash financing activities    
Cashless exercise of stock options $ 996,182

Source