v3.21.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities    
Net income $ 6,803,223 $ 1,249,055
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 1,139,261 1,210,961
Change in allowance for doubtful accounts 209,612
Amortization of discount on investments (55,641)
Stock-based compensation 623,235 328,523
Changes in operating assets and liabilities:    
Accounts receivable (2,908,235) 1,049,108
Inventories, net (218,638) (2,675,123)
Other assets (188,542) 98,010
Accounts payable and accrued expenses 1,239,733 1,091,431
Net cash provided by operating activities 6,699,649 2,296,324
Cash flows from investing activities    
Purchases of property, plant and equipment and intangible assets (682,009) (1,183,336)
Purchases of investments (6,448,304) (19,076,930)
Proceeds from maturities of investments 6,651,000 16,720,000
Net cash used in investing activities (479,313) (3,540,266)
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 (456,124) 2,582
Tax withholding related to vesting of restricted stock grants (54,208) (5,803)
Repurchase of common stock (428,654)
Net cash used in financing activities (331,251) (262,223)
Increase (Decrease) in cash and cash equivalents 5,889,085 (1,506,165)
Cash and cash equivalents, beginning of period 16,449,636 10,081,721
Cash and cash equivalents, end of period 22,338,721 8,575,556
Supplemental disclosures for cash flow information    
Cash paid during the year for income taxes 2,331,002 355,657
Non-cash financing activities    
Cashless exercise of stock options $ 1,269,414 $ 7,737

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