<SEC-DOCUMENT>0001157523-14-002860.txt : 20140717
<SEC-HEADER>0001157523-14-002860.hdr.sgml : 20140717
<ACCEPTANCE-DATETIME>20140717163047
ACCESSION NUMBER:		0001157523-14-002860
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20140717
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20140717
DATE AS OF CHANGE:		20140717

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:		14980666

	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>a50907554.htm
<DESCRIPTION>AMCON DISTRIBUTING COMPANY 8-K
<TEXT>
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    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 11pt"><b>UNITED
      STATES</b></font><b><font style="font-family: Times New Roman; font-size: 11pt"><br style="font-family: Times New Roman; font-size: 11pt"></font><font style="font-family: Times New Roman; font-size: 11pt">SECURITIES
      AND EXCHANGE COMMISSION</font></b><font style="font-family: Times New Roman; font-size: 11pt"><br style="font-family: Times New Roman; font-size: 11pt"></font><font style="font-family: Times New Roman; font-size: 11pt"><b>WASHINGTON,
      D.C. 20549</b></font><font style="font-family: Times New Roman; font-size: 11pt"><br style="font-family: Times New Roman; font-size: 11pt"></font><font style="font-family: Times New Roman; font-size: 11pt"><br style="font-family: Times New Roman; font-size: 11pt"></font><font style="font-family: Times New Roman; font-size: 11pt"><b>FORM
      8-K</b></font><font style="font-family: Times New Roman; font-size: 11pt"><br style="font-family: Times New Roman; font-size: 11pt"></font><font style="font-family: Times New Roman; font-size: 11pt"><br style="font-family: Times New Roman; font-size: 11pt"></font><font style="font-family: Times New Roman; font-size: 11pt"><b>CURRENT
      REPORT</b></font><font style="font-family: Times New Roman; font-size: 11pt"><br style="font-family: Times New Roman; font-size: 11pt"></font><font style="font-family: Times New Roman; font-size: 11pt"><b>PURSUANT
      TO SECTION 13 OR 15(d) OF THE</b></font><font style="font-family: Times New Roman; font-size: 11pt"><br style="font-family: Times New Roman; font-size: 11pt"></font><font style="font-family: Times New Roman; font-size: 11pt"><b>SECURITIES
      ACT OF 1934</b></font><font style="font-family: Times New Roman; font-size: 11pt"><br style="font-family: Times New Roman; font-size: 11pt"></font><font style="font-family: Times New Roman; font-size: 11pt"><br style="font-family: Times New Roman; font-size: 11pt"></font><font style="font-family: Times New Roman; font-size: 11pt"><br style="font-family: Times New Roman; font-size: 11pt"></font>
    </p>
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    <table style="font-family: Times New Roman; width: 100%; margin-left:auto;margin-right:auto; font-size: 11pt; margin-bottom: 10.0px" cellspacing="0">
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          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><font style="font-family: Times New Roman; font-size: 11pt"><b>Date
            of Report (Date of earliest event reported) July 17, 2014</b></font></u>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 11pt"><br style="font-family: Times New Roman; font-size: 11pt">
      </font><font style="font-family: Times New Roman; font-size: 11pt"><br style="font-family: Times New Roman; font-size: 11pt">
      </font><u><font style="font-family: Times New Roman; font-size: 11pt"><b>AMCON
      DISTRIBUTING COMPANY</b></font></u><font style="font-family: Times New Roman; font-size: 11pt"><br style="font-family: Times New Roman; font-size: 11pt"></font><font style="font-family: Times New Roman; font-size: 11pt">(Exact
      name of registrant as specified in its charter)</font><font style="font-family: Times New Roman; font-size: 11pt"><br style="font-family: Times New Roman; font-size: 11pt"></font><br><br>
    </p>
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          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Delaware</b>
          </p>
        </td>
        <td valign="top" style="width: 1%; text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          &#160;
        </td>
        <td valign="bottom" style="width: 32%; border-bottom: solid black 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>1-15589</b>
          </p>
        </td>
        <td valign="top" style="width: 1%; text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          &#160;
        </td>
        <td valign="bottom" style="width: 33%; border-bottom: solid black 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>47-0702918</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="width: 33%; text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (State or other jurisdiction
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            of incorporation)
          </p>
        </td>
        <td style="width: 1%">

        </td>
        <td valign="top" style="width: 32%; text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Commission<br>File Number)
          </p>
        </td>
        <td style="width: 1%">

        </td>
        <td valign="bottom" style="width: 33%; text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (IRS Employer
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            Identification No.)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>
      <br>

    </p>
    <div style="text-align:center">
    <table style="font-family: Times New Roman; width: 100%; margin-left:auto;margin-right:auto; font-size: 10pt; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="width: 30%">
          &#160;
        </td>
        <td valign="top" style="width: 40%; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>7405 Irvington Road, Omaha NE 68122</b>
          </p>
        </td>
        <td style="width: 30%">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="3">
          <p style="margin-top: 0px; margin-bottom: 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;
        </td>
      </tr>
      <tr>
        <td style="width: 30%">

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

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

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

        </td>
        <td style="width: 30%">
          &#160;
        </td>
      </tr>
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        <td style="width: 30%">

        </td>
        <td valign="top" style="width: 40%; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Not Applicable</b>
          </p>
        </td>
        <td style="width: 30%">

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

    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 10pt">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-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">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-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <div style="width: 100%; text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
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          1
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          <hr style="color: black; height: 1.5pt">

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

        </div>
      </div>
    </div>
    <p style="text-align: justify; white-space: nowrap">
      <b>ITEM 2.02 &#160;&#160;&#160;&#160;RESULTS OF OPERATIONS AND FINANCIAL CONDITION. </b>
    </p>
    <p style="text-align: justify">
      On July 17, 2014, the Company issued a press release announcing
      financial results for its third fiscal quarter ended June 30, 2014. 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 style="text-align: justify; white-space: nowrap">
      <b>ITEM 9.01 &#160;&#160;&#160;&#160;FINANCIAL STATEMENTS AND EXHIBITS&#160;&#160;</b>
    </p>
<div style="text-align:left">
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          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>EXHIBIT NO.</b></u>
          </p>
        </td>
        <td valign="top" style="width: 80%; text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>DESCRIPTION</b></u>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="width: 20%; text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          99.1
        </td>
        <td valign="top" style="width: 80%; text-align: left; padding-left: 0.0px">
          Press release, dated July 17, 2014, issued by AMCON Distributing
          Company announcing financial results for its third fiscal quarter
          ended June 30, 2014.
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: justify; white-space: nowrap">

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

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="font-family: Times New Roman; text-align: center; font-size: 10pt">
          2
        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

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

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

    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt">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>
<div style="text-align:left">
    <table style="font-family: Times New Roman; width: 100%; font-size: 10pt; margin-bottom: 10.0px" cellspacing="0">
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        </td>
        <td valign="top" style="width: 1%; text-align: left; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px" colspan="2">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>AMCON DISTRIBUTING COMPANY</u>
          </p>
        </td>
        <td style="width: 20%">

        </td>
      </tr>
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        <td valign="top" style="width: 45%; text-align: left; padding-left: 0.0px">

        </td>
        <td valign="top" style="width: 1%; text-align: left; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px" colspan="2">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(Registrant)
          </p>
        </td>
        <td style="width: 20%">

        </td>
      </tr>
      <tr>
        <td colspan="4">

        </td>
        <td style="width: 20%">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="4">

        </td>
        <td style="width: 20%">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="width: 45%; text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Date: July 17, 2014
        </td>
        <td valign="top" style="width: 1%; text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">

        </td>
        <td valign="top" style="border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px" colspan="2">
          /s/ Andrew C. Plummer
        </td>
        <td style="width: 20%">

        </td>
      </tr>
      <tr>
        <td style="width: 45%">

        </td>
        <td style="width: 1%">

        </td>
        <td colspan="2">

        </td>
        <td style="width: 20%">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="width: 45%; text-align: left; padding-left: 0.0px">

        </td>
        <td valign="top" style="width: 1%; text-align: left; padding-left: 0.0px">

        </td>
        <td valign="top" style="width: 6%; text-align: left; padding-left: 0.0px">
          Name:
        </td>
        <td valign="top" style="width: 28%; text-align: left; padding-left: 0.0px">
          Andrew C. Plummer
        </td>
        <td style="width: 20%">

        </td>
      </tr>
      <tr>
        <td valign="top" style="width: 45%; text-align: left; padding-left: 0.0px">

        </td>
        <td valign="top" style="width: 1%; text-align: left; padding-left: 0.0px">

        </td>
        <td valign="top" style="width: 6%; text-align: left; padding-left: 0.0px">
          Title:
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px" colspan="2">
          Vice President &amp; Chief Financial Officer
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: justify; white-space: nowrap">
      <br>

    </p>
    <p style="text-align: center">
      3
    </p>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a50907554-ex991.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2014 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-family: Times New Roman; font-size: 8pt">
    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>AMCON
      Distributing Company Reports Fully Diluted Earnings Per Share of $1.73
      for the Quarter Ended June 30, 2014</b></font>
    </p>
    <p>
      OMAHA, Neb.--(BUSINESS WIRE)--July 17, 2014--AMCON Distributing Company
      (&#8220;AMCON&#8221;) (NYSE MKT:DIT), an Omaha, Nebraska based consumer products
      company is pleased to announce fully diluted earnings per share of $1.73
      on net income available to common shareholders of $1.2 million for the
      fiscal quarter ended June 30, 2014.
    </p>
    <p>
      &#8220;We continue to make progress on our facility expansion at our branch in
      Rapid City. When completed, our northern customers will benefit from our
      enhanced foodservice capabilities,&#8221; said Christopher H. Atayan, AMCON&#8217;s
      Chairman and Chief Executive Officer. Atayan also noted, &#8220;The reach and
      intellectual capital embedded within our wholesale business is
      considerable. We are exploring different ways to leverage and monetize
      those competencies. We believe the independent c-store channel is hungry
      for solutions as they aggressively compete for business with larger
      chains. We feel that we play an important role in providing many of
      these higher margin solutions in areas such as information technology
      and category management.&#8221;
    </p>
    <p>
      Our wholesale distribution segment reported revenues of $314.1 million
      and operating income before depreciation and amortization of $4.1
      million for the third fiscal quarter of 2014. The retail health food
      segment reported revenues of $8.5 million and operating income before
      depreciation and amortization of $0.3 million for the same period.
    </p>
    <p>
      &#8220;We continue to monitor development of the e-cigarette and vaping
      category which is growing both within the c-store channel and through
      other retail channels and is attracting additional scrutiny from
      regulators. We currently offer a full range of e-cigarette and vaping
      products and will modify our approach to this product category as market
      conditions change,&#8221; said Kathleen M. Evans, President of AMCON&#8217;s
      wholesale distribution segment.
    </p>
    <p>
      &#8220;The growth in the natural foods retail industry has led to a
      significant number of new competitors in our Midwestern markets. We have
      implemented our response to this competition and are carefully
      evaluating our product mix while seeking operating additions and
      consolidations where appropriate, all within the context of delivering a
      high level of customer service and satisfaction,&#8221; said Eric Hinkefent,
      President of AMCON&#8217;s retail health food segment.
    </p>
    <p>
      &#8220;We continue to utilize our balance sheet strength to deliver on key
      corporate objectives. During the quarter, we negotiated the repurchase
      of 8,830 shares of common stock in a private transaction while at the
      same time closing on a second small acquisition in North Dakota. The
      recent North Dakota acquisitions and capital expenditures for the Rapid
      City facility expansion improve our market penetration in the growing
      Dakota markets. We closed the June 30, 2014 quarter with shareholders&#8217;
      equity of $53.7 million and consolidated debt of $25.3 million,&#8221; said
      Andrew Plummer, AMCON&#8217;s Chief Financial Officer.
    </p>
    <div style="width: 100%; margin-right: 0pt; text-indent: 0pt; margin-left: 0pt; margin-bottom: 10pt">
      <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="color: black; height: 1.5pt">

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

        </div>
      </div>
    </div>
    <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 sixteen (16) 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>
    <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="width: 100%; text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt">
      <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="color: black; height: 1.5pt">

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

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; width: 100%; font-size: 8pt; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td colspan="11">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="11">
          <b>AMCON Distributing Company and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="11">
          <b>Condensed Consolidated Balance Sheets</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="11">
          <b>June 30, 2014 and September 30, 2013</b>
        </td>
      </tr>
      <tr>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" colspan="3">
          <b>2014</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" colspan="3">
          <b>2013</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          333,751
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          275,036
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Accounts receivable, less allowance for doubtful accounts of $1.2
            million and $1.1 million at June 2014 and September 2013,
            respectively
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          29,699,236
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          28,383,205
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          48,639,828
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          46,125,187
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          1,652,702
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          1,831,933
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          7,050,381
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          5,001,992
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 30.0px">
          Total current assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          87,375,898
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          81,617,353
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          13,944,111
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          13,088,859
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          4,547,228
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          4,820,978
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          465,990
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          497,882
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          112,683,054
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          106,374,899
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          <b>LIABILITIES AND SHAREHOLDERS&#8217; EQUITY</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          16,447,785
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          15,859,636
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          7,114,393
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          6,714,444
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          3,105,187
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          2,754,136
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          332,604
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          1,922,351
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          338,595
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          998,788
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 30.0px">
          Total current liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          27,338,564
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          28,249,355
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          21,164,401
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          14,841,712
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          3,569,713
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          3,327,010
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          3,821,735
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          4,076,892
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          141,014
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          239,396
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 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 June 2014 and September 2013
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Series B cumulative, convertible preferred stock, $.01 par value
            80,000 shares authorized, 16,000 shares issued and outstanding at
            both June 2014 and September 2013, and a total liquidation
            preference of $0.4 million at both June 2014 and September 2013
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Preferred stock, $.01 par value, 1,000,000 shares authorized,
            116,000 shares outstanding and issued in Series A and B referred
            to above
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Common stock, $.01 par value, 3,000,000 shares authorized, 602,602
            shares outstanding at June 2014 and 623,115 shares outstanding at
            September 2013
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          6,677
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          13,577,433
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          12,502,135
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          46,112,791
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          43,532,812
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (5,949,274
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (3,300,956
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 30.0px; padding-bottom: 2.0px">
          Total shareholders&#8217; equity
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          53,747,627
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          52,740,534
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          112,683,054
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          106,374,899
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="width: 100%; text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt">
      <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="color: black; height: 1.5pt">

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

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; width: 100%; font-size: 8pt; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td colspan="21">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="21">
          <b>AMCON Distributing Company and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="21">
          <b>Condensed Consolidated Unaudited Statements of Operations</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="21">
          <b>for the three and nine months ended June 30, 2014 and 2013</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="8">

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="8">

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

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

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

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="8">
          <b>For the three months</b>
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px">

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

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="8">
          <b>For the nine months</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">

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

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

        </td>
        <td valign="top" style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="8">
          <b>ended June</b>
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px; padding-bottom: 2.0px">

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

        </td>
        <td valign="top" style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="8">
          <b>ended June</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" colspan="3">
          <b>2014</b>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" colspan="3">
          <b>2013</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" colspan="3">
          <b>2014</b>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" colspan="3">
          <b>2013</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Sales (including excise taxes of $100.4 million and $100.2
            million, and $283.5 million and $285.4 million, respectively)
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          322,647,624
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          316,031,197
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          900,694,969
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          892,817,669
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          303,353,020
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          296,220,406
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          844,139,340
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          835,480,069
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Gross profit
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          19,294,604
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          19,810,791
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          56,555,629
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          57,337,600
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Selling, general and administrative expenses
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          16,295,082
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          16,065,285
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          48,599,519
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          47,351,952
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          557,736
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          598,061
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          1,810,610
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          1,791,708
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          16,852,818
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          16,663,346
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          50,410,129
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          49,143,660
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Operating income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          2,441,786
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          3,147,445
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          6,145,500
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          8,193,940
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Other expense (income):
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          228,827
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          309,445
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          753,446
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          874,489
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (37,473
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (49,487
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (106,659
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (225,682
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          191,354
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          259,958
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          646,787
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          648,807
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Income from operations before income tax expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          2,250,432
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          2,887,487
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          5,498,713
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          7,545,133
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          990,000
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          1,255,000
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          2,419,000
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          3,236,000
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Net income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          1,260,432
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          1,632,487
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          3,079,713
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          4,309,133
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (48,643
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (48,642
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (145,928
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (156,041
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Net income available to common shareholders
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          1,211,789
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          1,583,845
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          2,933,785
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          4,153,092
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Basic earnings per share available to common shareholders
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          2.00
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          2.54
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          4.79
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          6.67
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          1.73
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          2.19
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          4.18
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          5.73
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          Basic weighted average shares outstanding
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          605,319
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          623,115
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          613,032
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          622,833
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          Diluted weighted average shares outstanding
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          729,978
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          744,732
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          736,531
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          751,946
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="width: 100%; text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt">
      <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="color: black; height: 1.5pt">

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

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; width: 100%; font-size: 8pt; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td colspan="11">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="11">
          <b>AMCON Distributing Company and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="11">
          <b>Condensed Consolidated Unaudited Statements of Cash Flows</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="11">
          <b>for the nine months ended June 30, 2014 and 2013</b>
        </td>
      </tr>
      <tr>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" colspan="3">
          <b>2014</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: center; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" colspan="3">
          <b>2013</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          <b>CASH FLOWS FROM OPERATING ACTIVITIES:</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          3,079,713
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          4,309,133
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          1,536,860
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          1,517,958
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          273,750
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          273,750
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (42,745
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (72,318
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          Equity-based compensation
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          1,025,694
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          971,954
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          421,934
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          449,188
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          63,000
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          80,000
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          15,878
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          54,028
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (6,034
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (6,034
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (1,379,031
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (2,852,651
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          Inventories
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (1,572,589
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (9,827,717
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          Prepaid and other current assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (2,048,389
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (1,622,018
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          Other assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          31,892
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          55,753
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          598,939
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (1,070,612
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          Accrued expenses and accrued wages, salaries and bonuses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          805,286
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          525,856
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px; padding-bottom: 2.0px">
          Income tax payable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (1,589,747
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (1,096,612
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Net cash flows from operating activities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          1,214,411
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (8,310,342
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (2,337,626
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (1,808,206
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          Proceeds from sales of property and equipment
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          47,969
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          144,841
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (996,803
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          &#8212;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Net cash flows from investing activities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (3,286,460
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (1,663,365
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          6,322,689
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          13,697,657
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (915,350
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (883,923
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          Repurchase of Series B Convertible Preferred Stock and common stock
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (2,648,318
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (2,572,085
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          Dividends paid on convertible preferred stock
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (145,928
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (156,041
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          Dividends on common stock
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (353,806
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (352,406
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          Proceeds from exercise of stock options
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (128,523
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (74,610
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Net cash flows from financing activities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          2,130,764
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          9,659,772
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          58,715
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          (313,935
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          275,036
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          491,387
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Cash, end of period
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          333,751
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          177,452
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          751,909
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          851,665
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          3,586,813
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          3,883,424
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          62,414
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          21,248
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Issuance of common stock in connection with the vesting and
            exercise of equity-based awards
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          1,154,869
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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