<SEC-DOCUMENT>0001157523-16-006097.txt : 20160718
<SEC-HEADER>0001157523-16-006097.hdr.sgml : 20160718
<ACCEPTANCE-DATETIME>20160718160248
ACCESSION NUMBER:		0001157523-16-006097
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20160718
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160718
DATE AS OF CHANGE:		20160718

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:		161771626

	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>a51383368.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>
    <div style="text-align:center">
    <table cellspacing="0" style="font-family: Times New Roman; margin-bottom: 10.0px; font-size: 11pt; margin-left:auto;margin-right:auto; width: 100%">
      <tr>
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          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><font style="font-family: Times New Roman; font-size: 11pt"><b>Date
            of Report (Date of earliest event reported) July 18, 2016</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-bottom: 0px; margin-top: 0px">
            <b>Delaware</b>
          </p>
        </td>
        <td valign="top" style="padding-bottom: 2.0px; text-align: left; width: 1%; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: center; width: 32%; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>1-15589</b>
          </p>
        </td>
        <td valign="top" style="padding-bottom: 2.0px; text-align: left; width: 1%; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: center; width: 33%; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>47-0702918</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: center; width: 33%; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (State or other jurisdiction
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            of incorporation)
          </p>
        </td>
        <td style="width: 1%">

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

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

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

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

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

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

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

        </td>
        <td valign="top" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; width: 40%; border-bottom-style: solid; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 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-bottom: 0px; margin-top: 0px">
            (Former name or former address, if changed since last report)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

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

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="font-family: Times New Roman; font-size: 10pt; text-align: center">
          1
        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

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

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

    </p>
    <p style="text-align: justify; white-space: nowrap">
      <b>ITEM 2.02 &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;RESULTS OF OPERATIONS AND FINANCIAL CONDITION. </b>
    </p>
    <p style="text-align: justify">
      On July 18, 2016, the Company issued a press release announcing
      financial results for its fiscal quarter ended June 30, 2016.&#160;&#160;A copy of
      the press release is attached to this report as an exhibit.
    </p>
    <p style="text-align: justify">
      The information in this report (including the exhibit) shall not be
      deemed to be &quot;filed&quot; for the purposes of Section 18 of the Securities
      Exchange Act of 1934, as amended, or otherwise subject to the
      liabilities of that Section.&#160;&#160;The information set forth in this report
      (including the exhibit) shall not be incorporated by reference into any
      registration statement or other document pursuant to the Securities Act
      of 1933, as amended, except as shall be expressly set forth by specific
      reference in such filing.
    </p>
    <p>

    </p>
    <p style="text-align: justify; white-space: nowrap">
      <b>ITEM 9.01&#160;&#160;&#160;&#160;FINANCIAL STATEMENTS AND EXHIBITS&#160;&#160;</b>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; margin-bottom: 10.0px; font-size: 10pt; width: 100%">
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          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>EXHIBIT NO.</b></u>
          </p>
        </td>
        <td valign="top" style="text-align: left; width: 80%; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>DESCRIPTION</b></u>
          </p>
        </td>
      </tr>
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          <p style="margin-bottom: 0px; margin-top: 0px">
            99.1
          </p>
        </td>
        <td valign="top" style="text-align: left; width: 80%; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Press release, dated July 18, 2016, issued by AMCON Distributing
            Company
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 20%">

        </td>
        <td valign="top" style="text-align: left; width: 80%; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            announcing financial results for its fiscal quarter ended June 30,
            2016.
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      2
    </p>
    <div style="text-indent: 0pt; margin-left: 0pt; margin-bottom: 10pt; margin-right: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

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

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

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

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

    </p>
    <div style="text-align:center">
    <table cellspacing="0" style="font-family: Times New Roman; margin-bottom: 10.0px; font-size: 10pt; width: 100%; margin-left:auto;margin-right:auto">
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        <td style="width: 5%">

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

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px" colspan="2">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>AMCON DISTRIBUTING COMPANY</u>
          </p>
        </td>
        <td style="width: 14%">

        </td>
      </tr>
      <tr>
        <td style="width: 5%">

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

        </td>
        <td valign="top" style="text-align: left; padding-left: 50.0px" colspan="2">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Registrant)
          </p>
        </td>
        <td style="width: 14%">

        </td>
      </tr>
      <tr>
        <td style="width: 5%">

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

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

        </td>
        <td valign="top" style="text-align: left; width: 30%; padding-left: 0.0px">

        </td>
        <td style="width: 14%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

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

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

        </td>
        <td style="width: 30%">

        </td>
        <td style="width: 14%">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-bottom: 2.0px; text-align: left; width: 5%; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Date:
          </p>
        </td>
        <td valign="top" style="padding-bottom: 2.0px; text-align: left; width: 45%; padding-left: 0.0px">
          July 18, 2016
        </td>
        <td valign="top" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px" colspan="2">
          <p style="margin-bottom: 0px; margin-top: 0px">
            /s/ Andrew C. Plummer
          </p>
        </td>
        <td style="width: 14%">

        </td>
      </tr>
      <tr>
        <td style="width: 5%">

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

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

        </td>
        <td style="width: 30%">

        </td>
        <td style="width: 14%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

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

        </td>
        <td valign="top" style="text-align: left; width: 6%; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Name:
          </p>
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px" colspan="2">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Andrew C. Plummer
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

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

        </td>
        <td valign="top" style="text-align: left; width: 6%; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Title:
          </p>
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px" colspan="2">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Vice President &amp; Chief Financial Officer
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      3
    </p>
    <p style="text-align: center">

    </p>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51383368ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2016 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 $2.62
      for the Quarter Ended June 30, 2016</b></font>
    </p>
    <p>
      OMAHA, Neb.--(BUSINESS WIRE)--July 18, 2016--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 $2.62
      on net income available to common shareholders of $1.8 million for the
      fiscal quarter ended June 30, 2016.
    </p>
    <p>
      &#8220;The convenience sector continues to embrace fresh and on-the-go food
      offerings that enhance their ability to effectively compete against
      quick service restaurants for consumer dollars,&#8221; said Christopher H.
      Atayan, AMCON&#8217;s Chairman and Chief Executive Officer. Atayan continued,
      &#8220;AMCON has developed robust programs and expanded its capabilities in
      foodservice and technology to support our customers as they continue to
      evolve their stores. We have a long-term commitment to building
      partnerships with our customers and suppliers alike.&#8221; He further noted,
      &#8220;we are actively seeking acquisitions that can benefit from our
      extensive platform of customer service.&#8221;
    </p>
    <p>
      For the third fiscal quarter, the wholesale distribution segment
      reported revenues of $326.9 million, operating income of $4.9 million,
      and operating income before depreciation and amortization of $5.3
      million. Our retail health food segment reported revenues of $6.5
      million, an operating loss of $0.1 million, and break even operating
      income before depreciation and amortization for the same period.
    </p>
    <p>
      &#8220;Our customers can count on our sales and marketing teams&#8217; expertise in
      store design, product and program selection, and product placement to
      help them maximize sales and profitability particularly during the
      critical peak sales season. The investments we&#8217;ve made in our
      refrigerated trucking fleet have proven to be a competitive advantage as
      we are increasingly placing more emphasis on our foodservice offerings,&#8221;
      said Kathleen M. Evans, President of AMCON&#8217;s Wholesale Distribution
      segment.
    </p>
    <p>
      &#8220;We are proactively taking steps to respond to the competitive
      environment that we operate in. We are focused on developing an enhanced
      shopping experience that builds on our key historical strengths of
      customer service and product selection,&#8221; said Eric Hinkefent, President
      of AMCON&#8217;s Retail Health Food Segment.
    </p>
    <p>
      &#8220;We take a conservative approach to managing our balance sheet. The
      emphasis we place on working capital and liquidity provides us a
      competitive advantage in both of our business segments. We are able to
      move decisively when opportunities manifest themselves,&#8221; said Andrew C.
      Plummer, AMCON&#8217;s Chief Financial Officer. &#8220;We were pleased to close the
      June 30, 2016 quarter with shareholders&#8217; equity of $62.2 million and
      consolidated debt of $17.2 million.&#8221;
    </p>
    <p>
      AMCON is a leading wholesale distributor of consumer products, including
      beverages, candy, tobacco, groceries, foodservice, frozen and chilled
      foods, and health and beauty care products with locations in Illinois,
      Missouri, Nebraska, North Dakota, South Dakota and Tennessee. AMCON also
      operates fifteen (15) health and natural product retail stores in the
      Midwest and Florida. The retail stores operate under the names
      Chamberlin's Market &amp; Cafe <u>www.chamberlins.com</u> and Akin&#8217;s
      Natural Foods Market <u>www.akins.com</u>.
    </p>
    <div style="text-indent: 0pt; margin-left: 0pt; margin-bottom: 10pt; margin-right: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

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

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

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

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

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

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

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

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; margin-bottom: 10.0px; font-size: 8pt; width: 100%">
      <tr>
        <td colspan="9">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="9">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>AMCON Distributing Company and Subsidiaries</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="9">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Condensed Consolidated Balance Sheets</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="9">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>June 30, 2016 and September&#160;30, 2015</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

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

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

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

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

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

        </td>
        <td>

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

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

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

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px" colspan="3">
          <b>2016</b>
        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px" colspan="3">
          <b>2015</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Cash
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          414,997
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          219,536
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Accounts receivable, less allowance for doubtful accounts of $0.8
          million at June 2016 and $0.9 million at September 2015
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          33,932,942
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          31,866,787
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Inventories, net
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          50,670,660
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          60,793,478
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Deferred income taxes
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          1,404,470
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          1,553,726
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Income taxes receivable
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          113,238
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 10.0px">
          Prepaid and other current assets
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          5,446,628
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          2,125,908
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 20.0px">
          Total current assets
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          91,869,697
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          96,672,673
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Property and equipment, net
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          12,362,980
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          12,753,145
        </td>
        <td>

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

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

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

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          3,825,561
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          4,090,978
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          289,287
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          317,184
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap">
          114,697,352
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap">
          120,183,807
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#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="2">

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Accounts payable
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          17,997,838
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          17,044,726
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Accrued expenses
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          6,847,950
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          7,224,963
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Accrued wages, salaries and bonuses
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          3,423,813
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          3,282,354
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Income taxes payable
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          363,114
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 10.0px">
          Current maturities of long-term debt
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          359,737
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          351,383
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 20.0px">
          Total current liabilities
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          28,992,452
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          27,903,426
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Credit facility
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          13,708,439
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          20,902,207
        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          3,785,570
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          3,696,098
        </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 valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          3,113,288
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          3,384,319
        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          29,826
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          34,860
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          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 2016 and September 2015
        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Series B cumulative, Convertible Preferred Stock, $.01 par value
          80,000 shares authorized, 16,000 shares issued and outstanding at
          both June 2016 and September 2015, and a total liquidation
          preference of $0.4 million at both June 2016 and September 2015
        </td>
        <td>

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

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

        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Shareholders&#8217; equity:
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Preferred stock, $.01 par value, 1,000,000 shares authorized,
          116,000 shares outstanding and issued in Series A and B referred to
          above
        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Common stock, $.01 par value, 3,000,000 shares authorized, 587,185
          shares outstanding and issued at June 2016 and 621,104 shares
          outstanding and issued at September 2015
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          7,197
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          7,061
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Additional paid-in capital
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          16,676,738
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          15,509,199
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Retained earnings
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          57,209,248
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          53,527,606
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 10.0px">
          Treasury stock at cost
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          (11,725,406
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: left; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          (7,680,969
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: left; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 20.0px">
          Total shareholders&#8217; equity
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          62,167,777
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          61,362,897
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap">
          114,697,352
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap">
          120,183,807
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-left: 0pt; margin-bottom: 10pt; margin-right: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

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

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

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

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; margin-bottom: 10.0px; font-size: 8pt; width: 100%">
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="17">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>AMCON Distributing Company and Subsidiaries</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="17">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Condensed Consolidated Unaudited Statements of Operations</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="17">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>for the three and nine months ended June 30, 2016 and 2015</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

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

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

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

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

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

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

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

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: center; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap" colspan="7">
          <b>For the three months ended June</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: center; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap" colspan="7">
          <b>For the nine months ended June</b>
        </td>
      </tr>
      <tr>
        <td>

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

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px" colspan="3">
          <b>2016</b>
        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px" colspan="3">
          <b>2015</b>
        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px" colspan="3">
          <b>2016</b>
        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px" colspan="3">
          <b>2015</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Sales (including excise taxes of $98.9 million and $101.5 million,
          and $284.9 million and $285.9 million, respectively)
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          333,398,723
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          334,456,509
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          951,856,098
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          937,333,849
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          314,235,192
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          314,957,889
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          896,190,425
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          880,575,362
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px">
          Gross profit
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          19,163,531
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          19,498,620
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          55,665,673
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          56,758,487
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Selling, general and administrative expenses
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          15,335,808
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          15,405,676
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          45,951,300
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          47,072,555
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          512,543
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          542,307
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          1,655,173
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          1,709,469
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          15,848,351
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          15,947,983
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          47,606,473
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          48,782,024
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px">
          Operating income
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          3,315,180
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          3,550,637
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          8,059,200
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          7,976,463
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Interest expense
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          188,798
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          242,266
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          562,654
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          673,783
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 10.0px">
          Other (income), net
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          (35,552
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: left; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          (20,853
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: left; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          (98,634
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: left; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          (63,907
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: left; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          153,246
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          221,413
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          464,020
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          609,876
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#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 valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          3,161,934
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          3,329,224
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          7,595,180
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          7,366,587
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          1,310,000
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          1,333,000
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          3,241,000
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          3,055,000
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Net income
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          1,851,934
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          1,996,224
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          4,354,180
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          4,311,587
        </td>
        <td>

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

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

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

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          (146,462
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: left; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          (145,928
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: left; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px">
          Net income available to common shareholders
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap">
          1,803,292
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap">
          1,947,581
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap">
          4,207,718
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap">
          4,165,659
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Basic earnings per share available to common shareholders
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          3.03
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          3.16
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          6.91
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          6.78
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Diluted earnings per share available to common shareholders
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          2.62
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          2.69
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          6.07
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          5.85
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Basic weighted average shares outstanding
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          596,112
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          615,822
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          609,240
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          614,723
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Diluted weighted average shares outstanding
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          707,300
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          741,183
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          717,875
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          737,325
        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Dividends declared and paid per common share
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          0.18
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          0.18
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          0.82
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          0.54
        </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>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-left: 0pt; margin-bottom: 10pt; margin-right: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

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

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

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

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; margin-bottom: 10.0px; font-size: 8pt; width: 100%">
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="9">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>AMCON Distributing Company and Subsidiaries</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="9">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Condensed Consolidated Unaudited Statements of Cash Flows</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="9">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>for the nine months ended June 30, 2016 and 2015</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

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

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

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

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

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

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px" colspan="3">
          <b>2016</b>
        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px" colspan="3">
          <b>2015</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          CASH FLOWS FROM OPERATING ACTIVITIES:
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          4,354,180
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          4,311,587
        </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="2">

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Depreciation
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          1,389,756
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          1,435,719
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Amortization
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          265,417
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          (Gain) loss on sale of property and equipment
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (69,215
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          5,103
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Equity-based compensation
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          1,050,644
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          910,920
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Deferred income taxes
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          238,728
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          133,493
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Provision (recovery) for losses on doubtful accounts
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (39,000
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          193,000
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Provision for losses on inventory obsolescence
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          2,014
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          132,793
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Other
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (5,034
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Changes in assets and liabilities:
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Accounts receivable
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (2,027,155
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (207,224
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Inventories
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          10,120,804
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (6,393,734
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Prepaid and other current assets
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (3,320,720
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          942,531
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Other assets
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          27,897
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          118,531
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Accounts payable
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          924,567
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          242,760
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Accrued expenses and accrued wages, salaries and bonuses
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          2,825
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          1,505,917
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 10.0px">
          Income taxes payable
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          476,352
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          (1,022,572
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: left; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Net cash flows from operating activities
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          13,392,060
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          2,576,540
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </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="2">

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Purchase of property and equipment
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (1,013,988
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (812,624
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 10.0px">
          Proceeds from sales of property and equipment
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          112,157
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          24,000
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Net cash flows from investing activities
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (901,831
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (788,624
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Net payments on bank credit agreements
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (7,193,768
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (774,559
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Principal payments on long-term debt
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (262,677
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (255,157
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Repurchase of common stock
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (4,044,437
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Dividends paid on convertible preferred stock
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (146,462
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (145,928
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Dividends on common stock
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (526,076
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          (348,732
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 10.0px">
          Withholdings on the exercise of equity-based awards
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          (121,348
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: left; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          (213,605
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: left; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px">
          Net cash flows from financing activities
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          (12,294,768
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: left; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          (1,737,981
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: left; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Net change in cash
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          195,461
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          49,935
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px">
          Cash, beginning of period
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          219,536
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap">
          99,922
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px">
          Cash, end of period
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap">
          414,997
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; padding-right: 0.0px; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap">
          149,857
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Cash paid during the period for interest
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          576,681
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          677,163
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Cash paid during the period for income taxes
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          2,525,920
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          3,944,080
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Equipment acquisitions classified as accounts payable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          51,874
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          8,483
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Issuance of common stock in connection with the vesting and exercise
          of equity-based awards
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          1,174,981
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap">
          1,240,842
        </td>
        <td>

        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      .
    </p>
    <p>
      CONTACT:<br>AMCON Distributing Company<br>Christopher H. Atayan,
      402-331-3727
    </p>
  </body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
