<SEC-DOCUMENT>0001157523-13-000180.txt : 20130118
<SEC-HEADER>0001157523-13-000180.hdr.sgml : 20130118
<ACCEPTANCE-DATETIME>20130118160521
ACCESSION NUMBER:		0001157523-13-000180
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20130118
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20130118
DATE AS OF CHANGE:		20130118

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMCON DISTRIBUTING CO
		CENTRAL INDEX KEY:			0000928465
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-GROCERIES & GENERAL LINE [5141]
		IRS NUMBER:				470702918
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15589
		FILM NUMBER:		13537652

	BUSINESS ADDRESS:	
		STREET 1:		7405 IRVINGTON ROAD
		STREET 2:		POST OFFICE BOX 641940 (68164-7940)
		CITY:			OMAHA
		STATE:			NE
		ZIP:			68122
		BUSINESS PHONE:		4023313727

	MAIL ADDRESS:	
		STREET 1:		7405 IRVINGTON ROAD
		STREET 2:		POST OFFICE BOX 641940 (68164-7940)
		CITY:			OMAHA
		STATE:			NE
		ZIP:			68122
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a50535691.htm
<DESCRIPTION>AMCON DISTRIBUTING COMPANY 8-K
<TEXT>
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      <font style="font-size: 11pt; font-family: Times New Roman"><b>UNITED
      STATES</b></font><b><font style="font-size: 11pt; font-family: Times New Roman"><br style="font-size: 11pt; font-family: Times New Roman"></font><font style="font-size: 11pt; font-family: Times New Roman">SECURITIES
      AND EXCHANGE COMMISSION</font></b><font style="font-size: 11pt; font-family: Times New Roman"><br style="font-size: 11pt; font-family: Times New Roman"></font><font style="font-size: 11pt; font-family: Times New Roman"><b>WASHINGTON,
      D.C. 20549</b></font><font style="font-size: 11pt; font-family: Times New Roman"><br style="font-size: 11pt; font-family: Times New Roman"></font><font style="font-size: 11pt; font-family: Times New Roman"><br style="font-size: 11pt; font-family: Times New Roman"></font><font style="font-size: 11pt; font-family: Times New Roman"><b>FORM
      8-K</b></font><font style="font-size: 11pt; font-family: Times New Roman"><br style="font-size: 11pt; font-family: Times New Roman"></font><font style="font-size: 11pt; font-family: Times New Roman"><br style="font-size: 11pt; font-family: Times New Roman"></font><font style="font-size: 11pt; font-family: Times New Roman"><b>CURRENT
      REPORT</b></font><font style="font-size: 11pt; font-family: Times New Roman"><br style="font-size: 11pt; font-family: Times New Roman"></font><font style="font-size: 11pt; font-family: Times New Roman"><b>PURSUANT
      TO SECTION 13 OR 15(d) OF THE</b></font><font style="font-size: 11pt; font-family: Times New Roman"><br style="font-size: 11pt; font-family: Times New Roman"></font><font style="font-size: 11pt; font-family: Times New Roman"><b>SECURITIES
      ACT OF 1934</b></font><font style="font-size: 11pt; font-family: Times New Roman"><br style="font-size: 11pt; font-family: Times New Roman"></font><font style="font-size: 11pt; font-family: Times New Roman"><br style="font-size: 11pt; font-family: Times New Roman"></font><font style="font-size: 11pt; font-family: Times New Roman"><br style="font-size: 11pt; font-family: Times New Roman"></font>
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          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><font style="font-size: 11pt; font-family: Times New Roman"><b>Date
            of Report (Date of earliest event reported) January 18, 2013</b></font></u>
          </p>
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    <p style="text-align: center">
      <font style="font-size: 11pt; font-family: Times New Roman"><br style="font-family: Times New Roman; font-size: 11pt">
      </font><font style="font-size: 11pt; font-family: Times New Roman"><br style="font-family: Times New Roman; font-size: 11pt">
      </font><u><font style="font-size: 11pt; font-family: Times New Roman"><b>AMCON
      DISTRIBUTING COMPANY</b></font></u><font style="font-size: 11pt; font-family: Times New Roman"><br style="font-family: Times New Roman; font-size: 11pt"></font><font style="font-size: 11pt; font-family: Times New Roman">(Exact
      name of registrant as specified in its charter)</font><font style="font-size: 11pt; font-family: Times New Roman"><br style="font-family: Times New Roman; font-size: 11pt"></font><br><br>
    </p>
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          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Delaware</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 1%; text-align: left; padding-bottom: 2.0px" valign="top">
          &#160;
        </td>
        <td style="padding-left: 0.0px; width: 32%; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>1-15589</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 1%; text-align: left; padding-bottom: 2.0px" valign="top">
          &#160;
        </td>
        <td style="padding-left: 0.0px; width: 33%; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>47-0702918</b>
          </p>
        </td>
      </tr>
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        <td style="padding-left: 0.0px; width: 33%; text-align: center" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (State or other jurisdiction
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            of incorporation)
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          <p style="margin-bottom: 0px; margin-top: 0px">
            (Commission<br>File Number)
          </p>
        </td>
        <td style="width: 1%">

        </td>
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          <p style="margin-bottom: 0px; margin-top: 0px">
            (IRS Employer
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            Identification No.)
          </p>
        </td>
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    <p>
      <br>

    </p>
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          &#160;
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        <td style="padding-left: 0.0px; width: 40%; border-bottom: solid black 1.0pt; text-align: center" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>7405 Irvington Road, Omaha NE 68122</b>
          </p>
        </td>
        <td style="width: 30%">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="3" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Address of principal executive offices) (Zip Code)
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 30%">

        </td>
        <td style="width: 40%">

        </td>
        <td style="width: 30%">
          &#160;
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        </td>
        <td style="padding-left: 0.0px; width: 40%; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px; white-space: nowrap" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>402-331-3727</b>
          </p>
        </td>
        <td style="width: 30%">

        </td>
      </tr>
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        <td style="padding-left: 0.0px; text-align: center" colspan="3" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Registrant&#8217;s telephone number, including area code)
          </p>
        </td>
      </tr>
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        <td style="width: 30%">

        </td>
        <td style="width: 40%">

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          &#160;
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          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Not Applicable</b>
          </p>
        </td>
        <td style="width: 30%">

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      </tr>
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        <td style="padding-left: 0.0px; text-align: center" colspan="3" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Former name or former address, if changed since last report)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      <font style="font-size: 10pt; font-family: Times New Roman">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions:</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <div style="margin-right: 0pt; text-indent: 0pt; width: 100%; margin-bottom: 10pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="font-family: Times New Roman; font-size: 10pt; text-align: center">
          1
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        </div>
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      <div>
        <div style="text-align: right">

        </div>
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    </div>
    <p style="text-align: left">

    </p>
    <p style="text-align: justify; white-space: nowrap">
      <b>ITEM 2.02 &#160;&#160;RESULTS OF OPERATIONS AND FINANCIAL CONDITION. </b>
    </p>
    <p style="text-align: justify">
      On January 18, 2013, the Company issued a press release announcing
      financial results for its first fiscal quarter ended December 31, 2012.
      A copy of the press release is attached to this report as an exhibit.
    </p>
    <p style="text-align: justify">
      The information in this report (including the exhibit) shall not be
      deemed to be &quot;filed&quot; for the purposes of Section 18 of the Securities
      Exchange Act of 1934, as amended, or otherwise subject to the
      liabilities of that Section.&#160;&#160;The information set forth in this report
      (including the exhibit) shall not be incorporated by reference into any
      registration statement or other document pursuant to the Securities Act
      of 1933, as amended, except as shall be expressly set forth by specific
      reference in such filing.
    </p>
    <p>

    </p>
    <p style="text-align: justify; white-space: nowrap">
      <b>ITEM 9.01&#160;&#160;&#160;FINANCIAL STATEMENTS AND EXHIBITS</b>
    </p>
    <p style="text-align: justify; white-space: nowrap">

    </p>
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            <u><b>EXHIBIT NO.</b></u>
          </p>
        </td>
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          &#160;
        </td>
        <td style="padding-left: 0.0px; width: 80%; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>DESCRIPTION</b></u>
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          &#160;
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          <p style="margin-bottom: 0px; margin-top: 0px">
            99.1
          </p>
        </td>
        <td style="width: 5%">

        </td>
        <td style="padding-left: 0.0px; width: 80%; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Press release, dated January 18, 2013, issued by AMCON
            Distributing Company
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            announcing financial results for its first fiscal quarter ended
            December 31, 2012.
          </p>
        </td>
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    </table>
    </div>
    <p>

    </p>
    <div style="margin-right: 0pt; text-indent: 0pt; width: 100%; margin-bottom: 10pt; margin-left: 0pt">
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        <div style="text-align: left">

        </div>
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          2
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          <hr style="height: 1.5pt; color: black">

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        <div style="text-align: right">

        </div>
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    </div>
    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      <font style="font-size: 10pt; font-family: Times New Roman">SIGNATURE</font><br><br>
    </p>
    <p style="text-align: left">
      Pursuant to the requirements of the Securities and Exchange Act of 1934,
      the registrant has duly caused this report to be signed on its behalf by
      the undersigned hereunto duly authorized.
    </p>
    <p style="text-align: center">

    </p>
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        </td>
        <td style="width: 28%">

        </td>
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          &#160;
        </td>
        <td style="padding-left: 0.0px; width: 35%; text-align: center" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>AMCON DISTRIBUTING COMPANY</u>
          </p>
        </td>
        <td style="width: 15%">

        </td>
      </tr>
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        <td style="width: 6%">

        </td>
        <td style="width: 28%">

        </td>
        <td style="width: 16%">

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          <p style="margin-bottom: 0px; margin-top: 0px">
            (Registrant)
          </p>
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        <td style="width: 15%">

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        <td style="width: 6%">

        </td>
        <td style="width: 28%">

        </td>
        <td style="width: 16%">

        </td>
        <td style="width: 35%">

        </td>
        <td style="padding-left: 0.0px; width: 15%; text-align: left" valign="top">
          &#160;
        </td>
      </tr>
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        <td style="width: 6%">

        </td>
        <td style="width: 28%">

        </td>
        <td style="width: 16%">

        </td>
        <td style="width: 35%">

        </td>
        <td style="padding-left: 0.0px; width: 15%; text-align: left" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; width: 6%; text-align: left; padding-bottom: 2.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Date:
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 28%; text-align: left; padding-bottom: 2.0px" valign="top">
          January 18, 2013
        </td>
        <td style="width: 16%">

        </td>
        <td style="padding-left: 0.0px; width: 35%; border-bottom: solid black 1.0pt; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            /s/ Andrew C. Plummer
          </p>
        </td>
        <td style="width: 15%">

        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 28%">

        </td>
        <td style="width: 16%">

        </td>
        <td style="width: 35%">

        </td>
        <td style="padding-left: 0.0px; width: 15%; text-align: left" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 28%">

        </td>
        <td style="width: 16%">

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Name: Andrew C. Plummer
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 28%">

        </td>
        <td style="width: 16%">

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Title: Vice President &amp; Chief Financial Officer
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <font style="font-size: 10pt; font-family: Times New Roman">3</font>
    </p>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a50535691ex991.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<!--All rights reserved www.businesswire.com-->
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    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>AMCON
      Distributing Company Reports Fully Diluted Earnings Per Share of $1.90
      for the Fiscal Quarter Ended December 31, 2012</b></font>
    </p>
    <p>
      OMAHA, Neb.--(BUSINESS WIRE)--January 18, 2013--AMCON Distributing
      Company (&#8220;AMCON&#8221;) (NYSE AMEX MKT:DIT), an Omaha, Nebraska based consumer
      products company is pleased to announce fully diluted earnings per share
      of $1.90 on net income available to common shareholders of $1.4 million
      for the fiscal quarter ended December 31, 2012.
    </p>
    <p>
      &#8220;Our management team is committed to the development of our focused
      business strategy in a diligent fashion. AMCON&#8217;s culture of extreme
      dedication to customer service is what enables us to deliver consistent
      results. The depth and breadth of our customer relationships, in both
      our divisions, is an important and valuable asset as the merchant
      landscape remains highly competitive,&#8221; said Christopher H. Atayan,
      AMCON&#8217;s Chairman and Chief Executive Officer. &#8220;We carefully manage our
      balance sheet and pay particular attention to the risk adjusted return
      on capital we employ. This approach, consistently applied, has enabled
      us to develop shareholder value over the long term, while prudently
      managing risk,&#8221; noted Mr. Atayan.
    </p>
    <p>
      &#8220;The price/value relationship of our products and services are extremely
      important to our customer base. We are in alignment with our customers
      and our key vendors to develop dynamic merchandising programs that
      foster customer profitability and growth. We continue to make
      investments in foodservice and information technology as a key component
      of our program development,&#8221; said Kathleen Evans, President of AMCON&#8217;s
      wholesale distribution segment.
    </p>
    <p>
      &#8220;We are progressing toward the opening of our two new stores located in
      Northwest Arkansas and Omaha, Nebraska. Site development and other
      preparations are going smoothly,&#8221; said Eric Hinkefent, President of
      AMCON&#8217;s retail health food segment. &#8220;We continue to look for new
      locations which support our customer focused business model,&#8221; added Mr.
      Hinkefent.
    </p>
    <p>
      &#8220;We were able to use our balance sheet strength to achieve several
      corporate objectives during the quarter. We negotiated the repurchase of
      38,000 shares of preferred stock and 14,209 shares of common stock while
      at the same time taking advantage of attractive product related
      opportunities. At December 31, 2012, shareholders&#8217; equity was $48.8
      million and consolidated debt was $36.3 million,&#8221; said Andrew Plummer,
      AMCON&#8217;s Chief Financial Officer. &#8220;We continue to make a wide variety of
      capital investments that will enhance our ability to provide first class
      service and support to our customers,&#8221; added Mr. Plummer.
    </p>
    <p>
      AMCON is a leading wholesale distributor of consumer products, including
      beverages, candy, tobacco, groceries, foodservice, frozen and chilled
      foods, and health and beauty care products with locations in Illinois,
      Missouri, Nebraska, North Dakota, South Dakota, and Tennessee. AMCON
      also operates fourteen (14) health and natural product retail stores in
      the Midwest and Florida. The retail stores operate under the names
      Chamberlin's Market &amp; Cafe <u>www.chamberlins.com</u> and Akin&#8217;s
      Natural Foods Market <u>www.akins.com</u>.
    </p>
    <div style="margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <i>This news release contains forward-looking statements that are
      subject to risks and uncertainties and which reflect management's
      current beliefs and estimates of future economic circumstances, industry
      conditions, Company performance and financial results. A number of
      factors could affect the future results of the Company and could cause
      those results to differ materially from those expressed in the Company's
      forward-looking statements including, without limitation, availability
      of sufficient cash resources to conduct its business and meet its
      capital expenditures needs and the other factors described under Item
      1.A. of the Company&#8217;s Annual Report on Form 10-K. Moreover, past
      financial performance should not be considered a reliable indicator of
      future performance. Accordingly, the Company claims the protection of
      the safe harbor for forward-looking statements contained in the Private
      Securities Litigation Reform Act of 1995 with respect to all such
      forward-looking statements.</i>
    </p>
    <p style="text-align: center">
      <b>Visit AMCON Distributing Company's web site at: <u>www.amcon.com</u></b>
    </p>
    <div style="margin-right: 0pt; text-indent: 0pt; width: 100%; margin-bottom: 10pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td colspan="9">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="9" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>AMCON Distributing Company and Subsidiaries</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="9" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Condensed Consolidated Balance Sheets</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="9" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>December 31, 2012 and September 30, 2012</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="3" valign="top">
          <b>December</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="3" valign="top">
          <b>September</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center" colspan="3" valign="top">
          <b>2012</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center" colspan="3" valign="top">
          <b>2012</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="3" valign="top">
          <b>(Unaudited)</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <b>ASSETS</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Current assets:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Cash
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          34,802
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          491,387
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Accounts receivable, less allowance for doubtful accounts of $1.3
          million and $1.2 million at December 2012 and September 2012,
          respectively
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          32,335,062
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          32,681,835
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Inventories, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          49,705,411
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          38,364,621
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Deferred income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,618,414
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,916,619
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left; padding-bottom: 2.0px" valign="bottom">
          Prepaid and other current assets
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          7,355,045
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          6,476,702
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 30.0px; text-align: left" valign="bottom">
          Total current assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          91,048,734
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          79,931,164
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Property and equipment, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          12,895,924
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          13,083,912
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Goodwill
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          6,349,827
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          6,349,827
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Other intangible assets, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          5,094,728
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          5,185,978
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="bottom">
          Other assets
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          441,409
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,258,985
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          115,830,622
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          105,809,866
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>LIABILITIES AND SHAREHOLDERS&#8217; EQUITY</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Current liabilities:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Accounts payable
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          15,220,297
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          17,189,208
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Accrued expenses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          5,709,984
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          6,931,859
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Accrued wages, salaries and bonuses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2,146,303
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2,503,361
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Income taxes payable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          625,784
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2,194,966
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left; padding-bottom: 2.0px" valign="bottom">
          Current maturities of long-term debt
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,192,560
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,182,829
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 30.0px; text-align: left" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Total current liabilities
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          24,894,928
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          30,002,223
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Credit facility
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          30,379,181
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          14,353,732
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Deferred income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          3,754,812
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          3,633,390
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Long-term debt, less current maturities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          4,773,604
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          5,075,680
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Other long-term liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          334,175
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          336,186
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Series A cumulative, Convertible Preferred Stock, $.01 par value
            100,000 shares authorized and issued, and a total liquidation
            preference of $2.5 million at both December 2012 and September
            2012.
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2,500,000
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2,500,000
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Series B cumulative, Convertible Preferred Stock, $.01 par value
            80,000 shares authorized, 16,000 shares issued and outstanding at
            December 31, 2012 and 58,000 shares issued and outstanding at
            September 30, 2012, and a total liquidation preference of $0.4
            million and $1.5 million at December 2012 and September 2012,
            respectively.
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          400,000
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,450,000
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Shareholders&#8217; equity:
          </p>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Preferred stock, $0.01 par value, 1,000,000 shares authorized,
            116,000 and 158,000 shares outstanding and issued in Series A and
            B referred to above
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Common stock, $.01 par value, 3,000,000 shares authorized, 623,115
            shares outstanding at December 2012 and 612,327 shares outstanding
            at September 2012
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          6,543
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          6,293
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Additional paid-in capital
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          12,453,049
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          11,021,109
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Retained earnings
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          39,635,286
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          38,349,253
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left; padding-bottom: 2.0px" valign="bottom">
          Treasury stock at cost
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (3,300,956
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (918,000
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 30.0px; text-align: left; padding-bottom: 2.0px" valign="bottom">
          Total shareholders&#8217; equity
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          48,793,922
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          48,458,655
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          115,830,622
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          105,809,866
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-right: 0pt; text-indent: 0pt; width: 100%; margin-bottom: 10pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="9" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>AMCON Distributing Company and Subsidiaries</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="9" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Condensed Consolidated Unaudited Statements of Operations</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="9" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>for the three months ended December 31, 2012 and 2011</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center" colspan="3" valign="top">
          <b>2012</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center" colspan="3" valign="top">
          <b>2011</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Sales (including excise taxes of $98.0 million and $90.5 million,
          respectively)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          302,218,321
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          283,563,050
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="bottom">
          Cost of sales
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          282,988,532
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          264,925,373
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="bottom">
          Gross profit
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          19,229,789
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          18,637,677
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Selling, general and administrative expenses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          15,848,472
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          15,350,002
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="bottom">
          Depreciation and amortization
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          593,862
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          613,494
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          16,442,334
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          15,963,496
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="bottom">
          Operating income
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2,787,455
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2,674,181
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Other expense (income):
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Interest expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          316,052
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          424,110
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left; padding-bottom: 2.0px" valign="bottom">
          Other (income), net
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (61,349
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (151,264
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          254,703
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          272,846
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Income from operations before income tax expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2,532,752
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2,401,335
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="bottom">
          Income tax expense
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,070,000
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          963,000
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Net income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,462,752
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,438,335
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="bottom">
          Preferred stock dividend requirements
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (59,291
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (67,641
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 4.0px" valign="bottom">
          Net income available to common shareholders
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,403,461
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,370,694
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Basic earnings per share available to common shareholders
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2.26
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2.21
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Diluted earnings per share available to common shareholders
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1.90
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1.83
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Basic weighted average shares outstanding
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          622,277
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          619,910
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Diluted weighted average shares outstanding
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          767,957
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          783,994
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-right: 0pt; text-indent: 0pt; width: 100%; margin-bottom: 10pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="9" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>AMCON Distributing Company and Subsidiaries</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="9" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Condensed Consolidated Unaudited Statements of Cash Flows</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="9" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>for the three months ended December 31, 2012 and 2011</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center" colspan="3" valign="top">
          <b>2012</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center" colspan="3" valign="top">
          <b>2011</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>CASH FLOWS FROM OPERATING ACTIVITIES:</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Net income
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,462,752
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,438,335
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Adjustments to reconcile net income from operations to net cash
            flows from operating activities:
          </p>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Depreciation
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          502,612
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          512,555
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Amortization
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          91,250
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          100,939
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Gain on sale of property and equipment
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (70,631
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (3,600
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Equity-based compensation
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          327,476
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          318,894
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Deferred income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          419,627
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          449,159
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Provision for losses on doubtful accounts
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          105,000
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          87,735
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Provision for losses on inventory obsolescence
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          71,603
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          46,563
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Other
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (2,011
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (2,012
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 5.0px; text-align: left" valign="bottom">
          Changes in assets and liabilities:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Accounts receivable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          241,773
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          3,652,086
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Inventories
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (11,412,393
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (9,538,609
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Prepaid and other current assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (878,343
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,122,163
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Other assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          56,705
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (4,175
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Accounts payable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (2,021,716
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (2,586,190
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Accrued expenses and accrued wages, salaries and bonuses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (500,789
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (1,731,517
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left; padding-bottom: 2.0px" valign="bottom">
          Income tax payable
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (1,569,182
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (1,367,567
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Net cash flows from operating activities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (13,176,267
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (7,505,241
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          CASH FLOWS FROM INVESTING ACTIVITIES:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Purchases of property and equipment
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (330,228
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (261,717
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left; padding-bottom: 2.0px" valign="bottom">
          Proceeds from sales of property and equipment
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          139,040
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          3,600
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Net cash flows from investing activities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (191,188
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (258,117
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          CASH FLOWS FROM FINANCING ACTIVITIES:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Net borrowings on bank credit agreements
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          16,025,449
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          7,996,506
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Principal payments on long-term debt
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (292,345
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (410,772
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Repurchase of Series B Convertible Preferred Stock and common stock
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (2,572,085
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Dividends paid on convertible preferred stock
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (59,291
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (67,641
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Dividends on common stock
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (117,428
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (119,313
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Proceeds from exercise of stock options
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,180
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,180
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left; padding-bottom: 2.0px" valign="bottom">
          Withholdings on the exercise of equity-based awards
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (74,610
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (51,452
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="bottom">
          Net cash flows from financing activities
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          12,910,870
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          7,348,508
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Net change in cash
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (456,585
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (414,850
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Cash, beginning of period
          </p>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          491,387
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,389,665
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 4.0px" valign="bottom">
          Cash, end of period
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          34,802
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          974,815
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center" colspan="3" valign="top">
          <b>2012</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center" colspan="3" valign="top">
          <b>2011</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Supplemental disclosure of cash flow information:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Cash paid during the period for interest
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          279,667
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          401,312
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Cash paid during the period for income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2,219,555
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,881,407
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Supplemental disclosure of non-cash information:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Equipment acquisitions classified as accounts payable
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          64,042
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          3,254
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Issuance of common stock in connection with the vesting and exercise
          of equity-based awards
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,389,258
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          950,562
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Conversion by holder of Series B Convertible Preferred Stock to
          common stock
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          100,000
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Common stock acquired with other consideration
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          760,871
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      CONTACT:<br>AMCON Distributing Company<br>Christopher H. Atayan,
      402-331-3727
    </p>
  </body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
