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 ($)
 9 Months Ended
Jun. 30, 2017
Jun. 30, 2016
OPERATING ACTIVITIES:    
Net income $ 5,397,282 $ 14,887,047
Adjustments to reconcile net income to net cash provided by (used in) operating activities, net of acquisition:    
Depreciation and amortization 3,112,786 1,623,013
Amortization of debt issuance cost 157,158 0
Stock based compensation expense 137,011 254,710
Loss on disposal of property and equipment 55,703 71,614
Non-cash interest expense associated with convertible debt and warrants 0 4,749
Non-cash issuance of common stock for services 0 22,500
Change in reserve for uncollectible accounts (39,865) 30,073
Change in reserve for obsolete inventory (771,971) 703,532
Change in contingent liability 0 (316,000)
Change in deferred income taxes 3,020,553 (12,254,278)
Changes in assets and liabilities:    
Accounts receivable (2,908,689) (426,744)
Prepaid expenses and other current assets 308,373 55,849
Inventories (1,760,954) 1,868,343
Deposits and other assets (57,755) 16,325
Accounts payable 495,296 556,916
Accrued liabilities (449,799) 333,874
Income tax payable 318,144 (376,000)
Net cash provided by operating activities 7,013,273 7,055,523
INVESTING ACTIVITIES:    
Acquisition of businesses, net of cash acquired and seller financing provided (47,310,900) 0
Purchase of intangible assets - Software (124,230) 0
Proceeds from the sale of property and equipment 37,920 653,857
Purchases of property and equipment (5,936,900) (3,343,937)
Net cash used in investing activities (53,334,110) (2,690,080)
FINANCING ACTIVITIES:    
Net borrowings under revolver loans 17,152,852 (2,485,546)
Payments on debt issuance costs (1,155,000) (415,757)
Payment for the purchase of the noncontrolling interest 0 (2,000,000)
Proceeds from issuance of notes payable 36,984,434 10,050,521
Payment of series E preferred stock dividends (959) (959)
Purchase of treasury stock (496,366) (202,005)
Payments on notes payable (2,659,967) (4,400,114)
Payments on notes payable, related party 0 (4,505,979)
Net cash provided by (used in) financing activities 49,824,994 (3,959,839)
INCREASE IN CASH AND CASH EQUIVALENTS 3,504,157 405,604
CASH AND CASH EQUIVALENTS, beginning of period 770,895 2,727,818
CASH AND CASH EQUIVALENTS, end of period 4,275,052 3,133,422
Supplemental cash flow disclosures:    
Interest paid 4,340,486 842,202
Income taxes paid 103,704 466,000
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 584,500 0
Conversion of accrued expense liability to Series B preferred stock 2,800,000  
Accrued and unpaid dividends 479 480
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