XML 17 R5.htm IDEA: XBRL DOCUMENT v3.25.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net income $ 379,708 $ 25,105,010
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation expense 11,962,424 8,539,400
Accreted interest on PPP loans 99,860 108,356
Gain on sale of equipment (83,552) (261,102)
Provision for deferred taxes 262,639 (379,622)
Provision for bad debts 423,750 687,463
Vested restricted stock award compensation 105,119 35,556
Repurchases of shares for tax withholding (24,321)  
Amortization of intangible assets 1,064,493 438,623
Accreted interest on note payable 60,000 61,477
Increase in accounts receivable-trade (14,734,342) (5,582,886)
Increase in retainage receivable (1,574,246) (4,114,532)
Decrease (increase) in other receivables 1,653,111 (530,984)
Increase in contract assets (8,143,235) (8,640,572)
Increase in prepaid expenses and other (936,926) (568,372)
Increase in accounts payable 3,581,993 1,647,020
(Decrease) increase in accrued expenses and other current liabilities (646,233) 2,924,182
Increase (decrease) increase in contract liabilities 10,686,764 (792,013)
Net cash provided by operating activities 4,137,006 18,677,004
Cash flows from investing activities:    
Investment in property and equipment (6,354,069) (8,755,349)
Acquisition of Heritage Painting   (300,000)
Proceeds from sales of property and equipment 1,178,674 1,058,343
Net cash used in investing activities (29,427,859) (7,997,006)
Cash flows from financing activities:    
Proceeds from long-term debt 16,000,000  
Borrowings on lines of credit and short term debt, net of (repayments) 20,258,830 (9,663,150)
Treasury stock purchased (844,230) (41,380)
Cash dividend on common stock (1,504,223) (994,031)
Principal payments on long-term debt (9,304,152) (3,486,973)
Net cash provided by (used in) financing activities 24,606,225 (14,185,534)
Decrease in cash and cash equivalents (684,628) (3,505,536)
Cash and cash equivalents beginning of period 12,926,036 16,431,572
Cash and cash equivalents end of period 12,241,408 12,926,036
Supplemental schedule of noncash investing and financing activities:    
Purchases of property & equipment under financing agreements 1,869,965 1,195,682
Debt assumed in Rigney acquisition for equipment 115,165  
Sellers' note Rigney acquisition 461,000  
Line of credit moved to long-term note for equipment purchases 5,000,000 812,915
Common dividends declared but not paid 501,342  
Net operating lease right-of-use assets received in exchange for operating lease liabilities 630,750 265,941
Cash paid during the year for:    
Interest 2,957,914 2,074,246
Income taxes 2,766,415 $ 7,008,491
Rigney Digital Systems    
Cash flows from investing activities:    
Acquisition (3,000,000)  
Supplemental schedule of noncash investing and financing activities:    
Common stock issued 1,024,421  
Tribute Contracting & Consultants acquisition    
Cash flows from investing activities:    
Acquisition (21,252,464)  
Supplemental schedule of noncash investing and financing activities:    
Common stock issued $ 1,906,517