v3.21.2
Condensed Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities    
Net income $ 12,901,336 $ 4,243,623
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 1,725,509 1,824,517
Change in allowance for doubtful accounts 209,612 0
Amortization of discount on investments (876) (64,327)
Stock-based compensation 966,290 541,884
Changes in operating assets and liabilities:    
Accounts receivable (5,895,653) 18,912
Inventories, net (6,570,601) (5,868,972)
Other assets (261,371) 190,796
Accounts payable and accrued expenses 5,042,911 1,553,798
Net cash provided by operating activities 8,117,157 2,440,231
Cash flows from investing activities    
Purchases of property, plant and equipment and intangible assets (1,275,117) (1,493,341)
Purchases of investments (11,903,649) (31,837,930)
Proceeds from maturities of investments 10,044,000 30,163,000
Net cash used in investing activities (3,134,766) (3,168,271)
Cash flows from financing activities    
Proceeds from issuance of common stock under employee stock purchase plan 383,697 348,776
Tax withholding and proceeds related to exercise of stock options (456,124) 10,968
Tax withholding related to vesting of restricted stock grants (54,208) (5,803)
Repurchase of common stock 0 (428,654)
Net cash used in financing activities (126,635) (74,713)
Increase (Decrease) in cash and cash equivalents 4,855,756 (802,753)
Cash and cash equivalents, beginning of period 16,449,636 10,081,721
Cash and cash equivalents, end of period 21,305,392 9,278,968
Supplemental disclosures for cash flow information    
Cash paid during the year for income taxes 3,559,502 469,529
Non-cash financing activities    
Cashless exercise of stock options $ 1,269,414 $ 10,962

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