Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows (Unaudited)

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Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities    
Net income $ 501,158 $ 1,009,960
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 606,972 529,414
Amortization of discount on investments (28,051)
Stock-based compensation 240,586 538,524
Changes in operating assets and liabilities:    
Accounts receivable, net 2,092,912 4,653,817
Inventories, net (1,617,461) 424,019
Other assets (47,538) 102,481
Accounts payable, accrued expenses and deferred rent (1,848,409) (432,340)
Net cash (used in) provided by operating activities (99,831) 6,825,875
Cash flows from investing activities    
Purchases of property, plant and equipment and intangible assets (788,469) (276,599)
Purchases of investments (3,211,000) (1,558,000)
Proceeds from maturities of investments 4,438,000 1,680,000
Net cash provided by (used in) investing activities 438,531 (154,599)
Cash flows from financing activities    
Proceeds from issuance of common stock under employee stock purchase plan 169,652 145,940
Proceeds from issuance of common stock upon exercise of stock options 2,580 17
Tax withholding related to vesting of restricted stock grants (5,803) (6,676)
Net cash provided by financing activities 166,429 139,281
Increase in cash and cash equivalents 505,129 6,810,557
Cash and cash equivalents, beginning of period 10,081,721 8,547,777
Cash and cash equivalents, end of period 10,586,850 15,358,334
Supplemental disclosures for cash flow information    
Cash paid during the year for income taxes (29,907) (1,043)
Non-cash financing activities    
Cashless exercise of stock options $ 9,658