Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows (Unaudited)

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Condensed Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities    
Net income $ 1,249,055 $ 1,377,902
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 1,210,961 1,064,024
Change in allowance for doubtful accounts 210,000
Amortization of discount on investments (55,641) (15,855)
Stock-based compensation 328,523 1,102,190
Changes in operating assets and liabilities:    
Accounts receivable, net 1,049,108 3,623,266
Inventories, net (2,675,123) 1,776,613
Other assets 98,010 (486,554)
Accounts payable, accrued expenses and deferred rent 1,091,431 (179,024)
Net cash provided by operating activities 2,296,324 8,472,562
Cash flows from investing activities    
Purchases of property, plant and equipment and intangible assets (1,183,336) (551,607)
Purchases of investments (19,076,930) (12,274,393)
Proceeds from maturities of investments 16,720,000 3,572,000
Net cash used in investing activities (3,540,266) (9,254,000)
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 2,582 24
Tax withholding related to vesting of restricted stock grants (5,803) (6,676)
Repurchase of common stock (428,654)
Net cash (used in) provided by financing activities (262,223) 139,288
Decrease in cash and cash equivalents (1,506,165) (642,150)
Cash and cash equivalents, beginning of period 10,081,721 8,547,777
Cash and cash equivalents, end of period 8,575,556 7,905,627
Supplemental disclosures for cash flow information    
Cash paid during the year for income taxes 355,657 1,051,716
Non-cash financing activities    
Cashless exercise of stock options $ 7,737 $ 17,390