Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
 6 Months Ended
Mar. 31, 2017
Mar. 31, 2016
OPERATING ACTIVITIES:    
Net income $ 3,269,239 $ 1,518,850
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 2,023,245 1,061,018
Amortization of debt issuance cost 98,647 0
Stock based compensation expense 69,520 174,885
Non-cash interest expense associated with convertible debt and warrants 0 9,352
Non-cash issuance of common stock for services 0 15,000
Change in reserve for uncollectible accounts 38,432 (2,326)
Change in reserve for obsolete inventory 155,266 (68,250)
Change in contingent liability 0 (316,000)
Change in deferred income taxes 1,869,295 0
Changes in assets and liabilities:    
Accounts receivable (1,019,852) (1,142,274)
Prepaid expenses and other current assets 632,410 416,905
Inventories (2,595,120) 948,847
Deposits and other assets (57,755) 5,593
Accounts payable (1,150,525) 1,493,616
Accrued liabilities (373,633) (324,522)
Income tax payable 433,519 (376,000)
Net cash provided by operating activities 3,392,688 3,414,694
INVESTING ACTIVITIES:    
Acquisition of businesses, net of cash acquired and seller financing provided (47,310,900) 0
Purchase of intangible assets - Software (96,659) 0
Purchases of property and equipment (5,283,507) (123,204)
Net cash used in investing activities (52,691,066) (123,204)
FINANCING ACTIVITIES:    
Net borrowings under revolver loans 15,155,743 806,304
Payments on debt issuance costs (1,155,000) 0
Payment for the purchase of the noncontrolling interest 0 (2,000,000)
Proceeds from issuance of notes payable 36,984,434 0
Payment of series E preferred stock dividends (959) (959)
Purchase of treasury stock 0 (80,292)
Payments on notes payable (1,704,286) (477,672)
Payments on notes payable, related party 0 (845,566)
Net cash provided by (used in) financing activities 49,279,932 (2,598,185)
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (18,446) 693,305
CASH AND CASH EQUIVALENTS, beginning of period 770,895 2,727,818
CASH AND CASH EQUIVALENTS, end of period 752,449 3,421,123
Supplemental cash flow disclosures:    
Interest paid 2,547,563 680,469
Income taxes paid 0 790,000
Noncash financing and investing activities:    
Notes payable issued to sellers of Vintage Stock 10,000,000 0
Conversion of accrued expense liabilities into common stock 3,384,500 0
Accrued and unpaid dividends 959 959
Note payable issued for purchase of noncontrolling interest 0 500,000
Restated equipment deposit as a purchase of equipment in fiscal year 2016 $ (1,816,855) $ 0