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 ($)
 3 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities    
Net income $ 876,930 $ 1,487,454
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 388,625 348,749
Deferred taxes 478,887
Loss on disposal of assets 1,390
Stock based compensation 593,746 226,767
Changes in operating assets and liabilities:    
Accounts receivable, net 548,293 991,240
Inventories (341,490) 239,335
Other assets 228,259 (162,927)
Accounts payable and accrued expenses (2,899,667) (1,352,732)
Net cash (used in) provided by operating activities (605,304) 2,258,163
Cash flows from investing activities    
Purchases of property, plant and equipment and intangible assets (529,302) (226,710)
Purchases of investments (7,440,000) (1,184,000)
Proceeds from maturities of investments 2,459,000 1,886,000
Net cash (used in) provided by investing activities (5,510,302) 475,290
Cash flows from financing activities    
Repurchase of common stock (257,242)
Proceeds from issuance of common stock under employee stock purchase plan 169,500 118,013
Proceeds from issuance of common stock upon exercise of stock options 17 34,990
Tax withholding related to vesting of restricted stock grants (10,326) (1,391)
Net cash provided by (used in) financing activities 159,191 (105,630)
(Decrease) increase in cash and cash equivalents (5,956,415) 2,627,823
Cash and cash equivalents, beginning of period 28,014,321 18,071,210
Cash and cash equivalents, end of period 22,057,906 20,699,033
Supplemental disclosures for cash flow information    
Cash paid during the year for income taxes 12,250 15,884
Non-cash financing activities    
Cashless exercise of stock options $ 32,984 $ 15,890