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, 2022
Jun. 30, 2021
OPERATING ACTIVITIES:    
Net income $ 25,376,000 $ 23,907,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 4,616,000 5,089,000
loss on disposal of property and equipment 443,000 132,000
Gain on Payroll Protection Program loan forgiveness 0 (6,150,000)
Gain on bankruptcy settlement (11,501,000) (1,765,000)
Amortization of debt issuance cost (95,000) 635,000
Stock based compensation expense 37,000 230,000
Amortization of right-of-use assets 8,517,000 125,000
Write-off of ROU asset 522,000 0
Change in reserve for uncollectible accounts (6,000) 451,000
Change in reserve for obsolete inventory 431,000 1,137,000
Changes in assets and liabilities:    
Trade receivables (362,000) 295,000
Inventories (18,582,000) 934,000
Income taxes receivable (481,000) 5,214,000
Prepaid expenses and other current assets (450,000) 430,000
Change in deferred income taxes 2,529,000 1,340,000
Deposits and other assets (362,000) (359,000)
Accounts payable 3,741,000 3,010,000
Accrued liabilities (3,553,000) (1,972,000)
Change in other 24,000 (484,000)
Net cash provided by operating activities 10,844,000 32,199,000
INVESTING ACTIVITIES:    
Purchase of property and equipment (8,304,000) (8,470,000)
Net cash used in investing activities (32,659,000) (14,470,000)
FINANCING ACTIVITIES:    
Net borrowings (payments) under revolver loans 18,179,000 (3,247,000)
Stock option exercise 0 181,000
Proceeds from issuance of notes payable 20,292,000 2,258,000
Purchase of common treasury stock (2,528,000) (409,000)
Payments on related party notes payable 0 (5,500,000)
Debtor-in-possession cash 75,000 128,000
Payments on financing leases (120,000) 0
Payments on notes payable (15,122,000) (9,559,000)
Net cash provided by (used in) financing activities 20,776,000 (16,148,000)
Increase (decrease) in cash (1,039,000) 1,581,000
Cash, beginning of period 4,664,000 8,984,000
Cash, end of period 3,625,000 10,565,000
Supplemental cash flow disclosures:    
Interest paid 2,496,000 3,481,000
Income taxes paid 5,795,000 736,000
SW    
INVESTING ACTIVITIES:    
Investment 0 (6,000,000)
Kinetic    
INVESTING ACTIVITIES:    
Investment $ (24,355,000) $ 0