Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows (Unaudited)

v3.7.0.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities    
Net income $ 1,784,451 $ 2,980,433
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 800,136 706,176
Deferred taxes 1,125,507
(Gain) loss on disposal of assets (5,100) 1,390
Stock-based compensation 1,183,911 473,193
Changes in operating assets and liabilities:    
Accounts receivable, net (115,011) (1,843,207)
Inventories (1,597,722) (919,675)
Prepaid expenses and other 234,201 (207,489)
Accounts payable and accrued expenses (2,296,544) 713,999
Net cash (used in) provided by operating activities (11,678) 3,030,327
Cash flows from investing activities    
Purchases of property, plant and equipment and intangible assets (1,064,936) (421,637)
Proceeds from sale of property, plant and equipment 5,100
Purchases of investments (10,166,075) (3,820,075)
Proceeds from maturities of investments 5,568,000 3,858,000
Net cash used in investing activities (5,657,911) (383,712)
Cash flows from financing activities    
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 28,459 84,738
Tax withholding related to exercise of stock options (10,326) (36,223)
Repurchase of common stock (49,352) (333,761)
Net cash provided by (used in) financing activities 138,281 (167,233)
(Decrease) increase in cash and cash equivalents (5,531,308) 2,479,382
Cash and cash equivalents, beginning of period 28,014,321 18,071,210
Cash and cash equivalents, end of period 22,483,013 20,550,592
Supplemental disclosures for cash flow information    
Cash paid during the year for income taxes 416,750 83,884
Non-cash financing activities    
Cashless exercise of stock options $ 34,268 $ 234,460