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SHORT-TERM AND LONG-TERM DEBT (Tables)

12 Months Ended

Sep. 30, 2025

SHORT-TERM AND LONG-TERM DEBT

Schedule of short-term and long-term debt

​

​	​	​	​	​	​	​
​	​	September 30,		​	September 30,
​	​ ​ ​	2025		​ ​ ​	2024
​	​	​	​	​	​	​
Line of credit payable to bank, monthly interest at 7.25%, final payment due by June 28, 2027, guaranteed by certain directors of the Company.	​	$	24,750,000	​	$	4,500,000
​	​		​	​		​
Equipment line of credit with a total of $9.3 million with payments of $202,809 due in monthly installments, including fixed interest at 7.25% and final payment due February 2028, secured by equipment, guaranteed by certain directors of the Company.	​	​	5,878,041	​	​	7,802,313
​	​	​	​	​	​	​
Paycheck Protection Program loans from Small Business Administration, 1.0% simple interest, initially forgiven in the fiscal year ended September 30, 2021. Final forgiveness decision has not been determined.	​	​	10,401,366	​	​	10,292,676
​	​	​	​	​	​	​
Term note payable to United Bank, WV Pipeline acquisition, due in monthly installments of $64,853, including fixed interest at 4.25%, final payment due by March 25, 2026, secured by receivables and equipment, guaranteed by certain directors of the Company.	​		390,328	​		1,134,185
​	​		​	​		​
Notes payable to finance companies, due in monthly installments totaling $244,000 at September 30, 2025 and $76,000 at September 30, 2024, including interest ranging from 0.00% to 6.0%, final payments due October 2025 through September 2028, secured by equipment.	​		5,415,401	​		1,787,009
​	​		​	​		​
Notes payable to United Bank, Tribute acquisition finance, due in monthly installments totaling $272,016, including fixed interest at 6.9%, final payment due December 2030 secured by receivables and equipment, guaranteed by certain directors of the Company.	​		14,164,413	​		—
​	​		​	​		​
Notes payable to bank, due in monthly installments totaling $7,848, including interest at 4.82%, final payment due November 2034 secured by building and property.	​	​	710,466	​	​	762,670
​	​	​	​	​	​	​
Notes payable to bank, due in monthly installments totaling $59,932, including fixed interest at 6.0%, final payment due October 2027 secured by receivables and equipment, guaranteed by certain directors of the Company.	​		1,411,890	​		2,024,847
​	​		​	​		​
Equipment line of credit with a total of $5.0 million borrowings available, including fixed interest at 8.5% for purchases made in the first twelve months. After twelve months the borrowings will be converted to a forty-eight month term note agreement with a fixed interest rate equal to the “U.S. Treasury Rate” plus 2.75% per annum. Final payment due August 2029. The agreement is guaranteed by certain directors of the Company.	​	​	4,910,097	​	​	—
​	​		​	​		​
Unsecured notes payable to Joe and Cathy Rigney, five-year agreement for monthly fixed interest at 5.0% of sellers’ notes, with $500,000 due September 30, 2030. $461,000 fair value at September 30, 2025.	​		461,000	​		—
​	​		​	​		​
Notes payable to David Bolton and Daniel Bolton, due in annual installments totaling $500,000, including interest at 3.25%, final payment due December 31, 2025, unsecured.	​		500,000	​		940,000
​	​		​	​		​
Note payable to United Bank, Tri-State Paving acquisition, due in monthly installments of $129,910, including fixed interest at 4.50%, final payment due by June 1, 2027, secured by receivables and equipment, guaranteed by certain directors of the Company.	​	​	2,961,211	​	​	4,359,883
​	​	​	​	​	​	​
Notes payable to Corns Enterprises, $1,000,000 with fair value of $936,000, due in annual installments totaling $250,000, including interest at 3.50%, final payment due April 29, 2026, unsecured.	​	​	250,000	​	​	250,000
​	​	​	​	​	​	​
Total debt	​	$	72,204,213	​	$	33,853,583
​	​		​	​		​
Less current maturities	​		21,948,182	​		16,665,591
​	​		​	​		​
Total long term debt	​	$	50,256,031	​	$	17,187,992

Schedule of future expected payments due on short-term and long-term debt

At September 30, 2025, future expected payments due on short-term and long-term debt are as follows:

​

​	​	​	​
2026	​ ​ ​	$	21,948,182
2027	​	​	34,649,826
2028	​	​	6,552,086
2029	​	​	4,291,722
2030	​	​	3,637,104
Thereafter	​	​	1,125,293
​	​	$	72,204,213

​

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