Annual report pursuant to Section 13 and 15(d)

Statements of Cash Flows

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Statements of Cash Flows - USD ($)
 12 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities    
Net income $ 7,293,066 $ 4,566,156
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 2,421,754 2,178,409
Change in allowance for doubtful accounts 210,000
Amortization of discount on investments (64,327) (71,652)
Deferred taxes (279,808) (3,245)
Loss on disposal of assets 5,785
Stock-based compensation 773,555 1,729,025
Changes in operating assets and liabilities:    
Accounts receivable (1,378,033) 3,492,619
Inventories, net (5,395,558) 1,037,155
Other assets 127,773 (10,469)
Accounts payable, accrued expenses and deferred rent 3,151,566 1,604,655
Net cash provided by operating activities 6,655,773 14,732,653
Cash flows from investing activities    
Purchases of property, plant and equipment and intangible assets (1,806,198) (2,511,646)
Purchases of investments (34,056,930) (20,311,393)
Proceeds from maturities of investments 35,822,000 9,861,000
Net cash used in investing activities (41,128) (12,962,039)
Cash flows from financing activities    
Repurchases of common stock (428,654)
Proceeds from issuance of common stock under employee stock purchase plan 348,776 313,891
Proceeds from issuance of common stock upon exercise of stock options 9,564 2,604
Tax withholding related to vesting of restricted stock grants (176,416) (553,165)
Net cash used in financing activities (246,730) (236,670)
Increase in cash and cash equivalents 6,367,915 1,533,944
Cash and cash equivalents, beginning of year 10,081,721 8,547,777
Cash and cash equivalents, end of year 16,449,636 10,081,721
Supplemental disclosures for cash flow information    
Cash paid during the year for income taxes 1,442,079 1,683,113
Non-cash financing activities    
Cashless exercise of stock options $ 97,811 $ 17,390