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, 2023
Jun. 30, 2022
Operating Activities:    
Net income $ 4,462,000 $ 25,376,000
Adjustments to reconcile net income to net cash provided by operating activities, net of acquisition:    
Depreciation and amortization 9,978,000 4,616,000
(Gain)/loss on disposal of property and equipment 29,000 443,000
Gain on bankruptcy settlement 0 (11,501,000)
Amortization of debt issuance cost 223,000 (95,000)
Stock based compensation expense 396,000 37,000
Amortization of right-of-use assets 2,069,000 8,517,000
Write-off of ROU asset 0 522,000
Change in reserve for uncollectible accounts 62,000 (6,000)
Change in reserve for obsolete inventory 1,030,000 431,000
Change in deferred income taxes 4,227,000 2,529,000
Disposition of SW Financial, net of cash retained 1,509,000 0
Changes in assets and liabilities, net of acquisitions:    
Trade receivables 2,940,000 (362,000)
Inventories 2,917,000 (18,582,000)
Income taxes payable/receivable 316,000 (481,000)
Prepaid expenses and other current assets 3,482,000 (450,000)
Deposits and other assets (1,002,000) (362,000)
Accounts payable (1,039,000) 3,741,000
Accrued liabilities (5,656,000) (3,553,000)
Other Liabilities 63,000 24,000
Net cash provided by operating activities 26,006,000 10,844,000
Investing Activities:    
Acquisition of Flooring Liquidators, net of cash acquired (33,929,000) 0
Acquisition of Kinetic 0 (24,355,000)
Acquisition of Cal Coast Carpets (1,300,000) 0
Purchase of property and equipment (3,499,000) (8,304,000)
Net cash used in investing activities (38,728,000) (32,659,000)
Financing Activities:    
Net borrowings under revolver loans 3,133,000 18,179,000
Proceeds from issuance of notes payable 9,878,000 20,292,000
Payments on notes payable (5,555,000) (15,122,000)
Proceeds from issuing related party notes payable 7,000,000 0
Payments for debt acquisition costs (98,000) 0
Purchase of common treasury stock (988,000) (2,528,000)
Payments on financing leases (1,621,000) (120,000)
Payments on seller financing arrangements (51,000) 0
Cash paid for taxes on net settlement of stock option exercise (29,000) 0
Debtor-in-possession cash 0 75,000
Net cash provided by financing activities 11,669,000 20,776,000
Decrease in cash (1,053,000) (1,039,000)
Cash, beginning of period 4,600,000 4,664,000
Cash, end of period 3,547,000 3,625,000
Supplemental cash flow disclosures:    
Interest paid 7,443,000 2,496,000
Income taxes paid 102,000 5,795,000
Noncash financing and investing activities:    
Noncash items related to Flooring Liquidators acquisition 36,900,000 0
Noncash stock options exercise $ 327,000 $ 0